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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
filed with U.S. Securities and Exchange Commission on February 19, 2021.</FONT></P>

<P STYLE="text-align: right; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Registration
No. 333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">UNITED
STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</FONT></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">FORM
S-1<BR>
REGISTRATION STATEMENT<BR>
<I>UNDER<BR>
THE SECURITIES ACT OF 1933</I></FONT></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt">BANNIX
ACQUISITION CORP.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif"><BR>
(Exact name of Registrant as specified in its charter)</FONT></P>

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<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; width: 33%; text-align: center; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Delaware</B></FONT></TD>
    <TD STYLE="padding: 0pt; width: 34%; text-align: center; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>6770</B></FONT></TD>
    <TD STYLE="padding: 0pt; width: 33%; text-align: center; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>86-1626016</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; text-align: center; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(State
    or other jurisdiction of<BR>
    incorporation or organization)</B></FONT></TD>
    <TD STYLE="padding: 0pt; text-align: center; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(Primary
    Standard Industrial<BR>
    Classification Code Number)</B></FONT></TD>
    <TD STYLE="padding: 0pt; text-align: center; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>(I.R.S.
    Employer<BR>
    Identification Number)</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">300
Tice Boulevard; Suite 315<BR>
Woodcliff Lake, New Jersey 07677<BR>
Telephone: (201) 712-9800<BR>
(Address, including zip code, and telephone number, including area code, of registrant&rsquo;s principal executive offices)</FONT></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Subash
Menon, Chief Executive Officer<BR>
300 Tice Boulevard; Suite 315</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Woodcliff
Lake, New Jersey 07677<BR>
Telephone: (201) 712-9800<BR>
(Name, address, including zip code, and telephone number, including area code, of agent for service)</FONT></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Copies
to:</I></FONT></P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; width: 49%; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Mitchell
    S. Nussbaum<BR>
    Tahra Wright<BR>
    Loeb &amp; Loeb LLP<BR>
    345 Park Ave<BR>
    New York, New York 10154<BR>
    Telephone: (212) 407-4000<BR>
    Facsimile: (212) 207-4880</B></FONT></TD>
    <TD STYLE="padding-top: 0pt; width: 2%; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; width: 49%; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Bill
                                         Nelson</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Alain
        Dermarkar&nbsp;</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Shearman
        &amp; Sterling LLP&nbsp;</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Bank
        of America Tower&nbsp;</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>800
        Capital Street, Suite 2200&nbsp;</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Houston,
        Texas 77002&nbsp;</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Telephone:
        (713) 354-4900</B></FONT></P></TD></TR>
</TABLE>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Approximate
date of commencement of proposed sale to the public:</B> As soon as practicable after the effective date of this registration
statement.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under
the Securities Act of 1933 check the following box &#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please
check the following box and list the Securities Act registration statement number of the earlier effective registration statement
for the same offering. &#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list
the Securities Act registration statement number of the earlier effective registration statement for the same offering. &#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list
the Securities Act registration statement number of the earlier effective registration statement for the same offering. &#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate
by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting
company or an emerging growth company. See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo;
&ldquo;smaller reporting company&rdquo; and &ldquo;emerging growth company&rdquo; in Rule 12b-2 of the Exchange Act:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 25%"><FONT STYLE="font-family: Times New Roman, Times, Serif">Large accelerated filer</FONT></TD>
    <TD STYLE="width: 22%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&#9744;</FONT></TD>
    <TD STYLE="width: 22%"><FONT STYLE="font-family: Times New Roman, Times, Serif">Accelerated filer&#9;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9744;&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Non-accelerated filer</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&#9746;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Smaller reporting company&#9;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9746;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Emerging growth company</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9746;&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.
&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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    <TD COLSPAN="17" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">CALCULATION
    OF REGISTRATION FEE</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Title
    of Each Class of <BR> Security Being Registered</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Amount
    Being Registered</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Proposed
    Maximum Offering Price per Security<SUP>(1)</SUP></B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Proposed
    Maximum Aggregate Offering Price<SUP>(1)</SUP></B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Amount
    of Registration Fee</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 52%; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Units,
    each consisting of one share of common stock, $0.01 par value, and one-half of one redeemable warrant(2)</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">11,500,000</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.00</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">115,000,000</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">12,546.50</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Shares of common
    stock included as part of the units(3)</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">11,500,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">(4)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Redeemable
    warrants included as part of the units(3)</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">5,750,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">(4)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Representative&rsquo;s
    shares of common stock(3)</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">287,500</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.00</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,875,000</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">313.66</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total:</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">117,875,000</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">12,860.16</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; vertical-align: top"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1)</FONT></P></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Estimated
                                         solely for the purpose of calculating the registration fee.</FONT></TD></TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(2)</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Includes
                                         1,500,000 units, consisting of 1,500,000 shares of common stock and 750,000 redeemable
                                         warrants, which may be issued upon exercise of a 30-day option granted to the underwriters
                                         to cover over-allotments, if any.</FONT></TD></TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(3)</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pursuant
                                         to Rule 416, there are also being registered an indeterminable number of additional securities
                                         as may be issued to prevent dilution resulting from stock splits, stock dividends or
                                         similar transactions.</FONT></TD></TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(4)</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">No
                                         fee pursuant to Rule 457(g).</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>The
Registrant hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until
the registrant shall file a further amendment which specifically states that this Registration Statement shall thereafter become
effective in accordance with Section 8(a) of the Securities Act of 1933, as amended, or until the Registration Statement shall
become effective on such date as the Securities and Exchange Commission, acting pursuant to said Section 8(a), may determine.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Arial Narrow, Helvetica, Sans-Serif; margin: 0pt 0; color: red"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>The
information in this prospectus is not complete and may be changed. We may not sell these securities until the registration statement
filed with the Securities and Exchange Commission is effective. This prospectus is not an offer to sell these securities and it
is not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.</B>&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial Narrow, Helvetica, Sans-Serif; margin: 0pt 0; color: red"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>




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    <TD STYLE="padding-top: 0pt; width: 148.9pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Red"><B>PRELIMINARY
    PROSPECTUS</B></FONT></TD>
    <TD STYLE="padding-top: 0pt; width: 273.05pt; padding-right: 0pt; padding-left: 0pt; text-align: right; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Red"><B>SUBJECT
    TO COMPLETION, DATED FEBRUARY 19, 2021</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Bannix
Acquisition Corp.<BR>
$100,000,000<BR>
10,000,000 Units</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Bannix
Acquisition Corp. is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange,
asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, which we refer
to throughout this prospectus as our initial business combination. While we may pursue an initial business combination target
in any business, industry or geographical location, we intend to focus our search on businesses in the customer engagement sector
of telecommunications, retail and financial services. We have not selected any specific business combination target and we have
not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination
target.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">This
is an initial public offering of our securities. Each unit has an offering price of $10.00 and consists of one share of our common
stock and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of our common
stock at a price of $11.50 per share, subject to adjustment as described in this prospectus. Only whole warrants are exercisable.
No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Accordingly, unless you
purchase at least two units, you will not be able to receive or trade a whole warrant. The warrants will become exercisable on
the later of 30 days after the completion of our initial business combination and 12 months from the closing of this offering,
and will expire five years after the completion of our initial business combination or earlier upon redemption or liquidation,
as described in this prospectus. We have also granted the underwriters a 30-day option to purchase up to an additional 1,500,000
units to cover over-allotments, if any.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We will
provide our public stockholders with the opportunity to redeem all or a portion of their shares of our common stock upon the completion
of our initial business combination at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the
trust account described below as of two business days prior to the consummation of our initial business combination, including
interest (which interest shall be net of taxes payable) divided by the number of then outstanding shares of common stock that
were sold as part of the units in this offering, which we refer to collectively as our public shares, subject to the limitations
described herein.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We have
18 months from the closing of this offering (or up to 24 months from the closing of this offering if we extend the period of time
to consummate a business combination, as described in more detail in this prospectus) to consummate our initial business combination.
Pursuant to the terms of our amended and restated certificate of incorporation and the trust agreement to be entered into between
us and Continental Stock Transfer &amp; Trust Company, LLC on the date of this prospectus, in order to extend the time available
for us to consummate our initial business combination, our initial stockholders or their affiliates or designees, upon five days
advance notice prior to the applicable deadline, must deposit into the trust account for each three-month extension, $1,000,000,
or $1,150,000 if the underwriters&rsquo; over-allotment option is exercised in full ($0.10 per share in either case), on or prior
to the date of the applicable deadline. If we are unable to consummate our initial business combination within the above time
period, we will distribute the aggregate amount then on deposit in the trust account, net of taxes payable, and less up to $100,000
of interest to pay liquidation expenses, pro rata to our public stockholders by way of the redemption of their shares and to cease
all operations except for the purposes of winding up of our affairs, as further described herein. In such event, the warrants
will expire and be worthless. If we are unable to complete our business combination within 18 months from the closing of this
offering (or up to 24 months from the closing of this offering if we extend the period of time to consummate a business combination,
as described in more detail in this prospectus), we will redeem 100% of 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 (less up to $100,000 of interest to pay
dissolution expenses and which interest shall be net of taxes payable) divided by the number of then outstanding public shares,
subject to applicable law and as further described herein.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Subash
Menon and Sudeesh Yezhuvath (through their investment entity Bannix Management LLP) and Suresh Yezhuvath, (who we refer to as
the &ldquo;sponsors&rdquo; throughout this prospectus), certain funds and accounts managed by ___________ (which we refer to as
the &ldquo;anchor investor&rdquo; throughout this prospectus) and I-Bankers Securities, Inc. (&ldquo;I-Bankers&rdquo;), the representative
of the underwriters in this offering, have committed to purchase an aggregate of 3,500,000 warrants (3,800,000 warrants if the
underwriters&rsquo; over-allotment option is exercised) at a price of $1.00 per warrant ($3,500,000 in the aggregate, or $3,800,000
if the underwriters&rsquo; over-allotment option is exercised in full), in a private placement that will close simultaneously
with the closing of this offering. Of such amount, 1,300,000 warrants will be purchased by our sponsors , 1,000,000 warrants will
be purchased by I-Bankers and, in lieu of I-Bankers acquiring such warrants, such warrants will be issued to our sponsors (such
that<FONT STYLE="font-size: 10pt; line-height: 107%">, immediately following the closing of this offering, our sponsors will own
2,300,000 warrants and I-Bankers will own no private placement warrants)</FONT>, and 1,200,000 warrants will be purchased
by the anchor investor (or 1,500,000 if the over-allotment is exercised in full). We refer to these warrants throughout this prospectus
as the private placement warrants. The private placement warrants are identical to the warrants sold in this offering except as
otherwise described in this prospectus. Our initial stockholders, which include our sponsors, I-Bankers, and the anchor
investor have purchased or will purchase upon closing of this offering, 2,875,000 shares of common stock (up to 375,000
of which are subject to forfeiture by our sponsors depending on the extent to which the underwriters&rsquo; over-allotment option
is exercised), which we also refer to as founder shares for an aggregate purchase price of $28,750. Of the founder shares, 2,180,000
were purchased by the sponsors, and each of I-Bankers and the anchor investor will purchase upon closing of this offering 245,000
and 450,000 shares respectively. Upon the closing of this offering, we will issue to I-Bankers (and/or its
designee) will purchase 250,000 shares (or 287,500 shares if the over-allotment option is fully exercised) for nominal
consideration which such shares are referred to as the &ldquo;representative shares.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Currently,
there is no public market for our units, common stock or warrants. We intend to apply to list our units, common stock and warrants
on The Nasdaq Capital Market, or Nasdaq, under the symbols &ldquo;__________U,&rdquo; &ldquo;_______&rdquo; and &ldquo;_______W,&rdquo;
respectively. We expect that our units will be listed on Nasdaq on or promptly after the date of this prospectus. We cannot guarantee
that our securities will be approved for listing on Nasdaq. The common stock and warrants comprising the units will begin separate
trading on the 52nd day following the date of this prospectus (or if such date is not a business day, the following business day)
unless I-Bankers informs us of their decision to allow earlier separate trading, subject to our filing a Current Report on Form
8-K with the Securities and Exchange Commission, or the SEC, containing an audited balance sheet reflecting our receipt of the
gross proceeds of this offering and issuing a press release announcing when such separate trading will begin. At the time that
the common stock and warrants comprising the units begin separate trading, holders will hold the separate securities and no longer
hold units (without any action needing to be taken by the holders), and the units will no longer trade. Once the securities comprising
the units begin separate trading, we expect that the common stock and warrants will be listed on Nasdaq under the symbols &ldquo;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&rdquo;
and &ldquo;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;W,&rdquo; respectively.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>We
are an &ldquo;emerging growth company&rdquo; under applicable federal securities laws and will be subject to reduced public company
reporting requirements. Investing in our securities involves a high degree of risk. See &ldquo;Risk Factors&rdquo; beginning on
page 29 for a discussion of information that should be considered in connection with an investment in our securities. Investors
will not be entitled to protections normally afforded to investors in Rule 419 blank check offerings.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Per
    Unit</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Public
    offering price</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.00</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">100,000,000</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Underwriting
    discounts and commissions(1)(2)</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">0.20</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,000,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Proceeds,
    before expenses, to us</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">9.80</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">98,000,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1)</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">                                         </FONT><P STYLE="margin: 0; font: 10pt/107% Times New Roman, Times, Serif">The
                                         underwriters will receive compensation in addition to the underwriting discount. See
                                         &ldquo;Underwriting&rdquo; for a description of underwriting compensation payable
                                         to the underwriters.</P></TD></TR>                                                                                      <TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt">&nbsp;</TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt">(2)</TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt">Includes
                                         $1,000,000 that will be used by I-Bankers to acquire 1,000,000 warrants that will be
                                         issued to our sponsors in lieu of I-Bankers.</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Of
the proceeds we receive from this offering and the sale of the private placement warrants described in this prospectus, $100 million
or $115 million if the underwriters&rsquo; over-allotment option is exercised in full ($10.00 per unit in either case but subject
to increase of up to $0.20 per share in the event that our sponsors elect to extend the period of time), will be deposited into
a trust account with Continental Stock Transfer &amp; Trust Company acting as trustee. Except with respect to interest earned
on the funds in the trust account that are released to us to pay our taxes, if any, these funds will not be released from the
trust account until the earliest of (i) the completion of our initial business combination, (ii) the redemption of any public
shares properly tendered in connection with a stockholder vote to amend our amended and restated certificate of incorporation
(A) to modify the substance or timing of our obligation to redeem 100% of our public shares if we do not complete our initial
business combination within 18 months from the closing of this offering (or up to 24 months from the closing of this offering
if we extend the period of time to consummate a business combination, as described in more detail in this prospectus) or (B) with
respect to any other provision relating to stockholders&rsquo; rights or pre-business combination activity, and (iii) the redemption
of all of our public shares if we are unable to complete our business combination within 18 months from the closing of this offering
(or up to 24 months from the closing of this offering if we extend the period of time to consummate a business combination, as
described in more detail in this prospectus), subject to applicable law. The proceeds deposited in the trust account could become
subject to the claims of our creditors, if any, which could have priority over the claims of our public stockholders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
underwriters are offering the units for sale on a firm commitment basis. The underwriters expect to deliver the units to the purchasers
on or about &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2021.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Neither
the SEC nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is
truthful or complete. Any representation to the contrary is a criminal offense.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Sole
Book-Running Manager</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>I-Bankers
Securities, Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&#9;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2021</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>




<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>TABLE
OF CONTENTS</U></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%">
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="padding: 0pt 0pt 1.5pt; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Page</B></FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt 0pt 0in; width: 90%; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_001">SUMMARY</A></FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; width: 10%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">1</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_002">SUMMARY
    FINANCIAL DATA</A></FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">28</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_003">RISK
    FACTORS</A></FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">29</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_004">CAUTIONARY
    NOTE REGARDING FORWARD-LOOKING STATEMENTS</A></FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">55</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_005">USE
    OF PROCEEDS</A></FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">56</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_006">DIVIDEND
    POLICY</A></FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">58</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_007">DILUTION</A></FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">59</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_008">CAPITALIZATION</A></FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">61</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt 0pt 0in 10pt; text-align: left; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_009">MANAGEMENT&rsquo;S
    DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</A></FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">62</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_010">PROPOSED
    BUSINESS</A></FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">67</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_011">MANAGEMENT</A></FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">92</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_012">PRINCIPAL
    STOCKHOLDERS</A></FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_013">CERTAIN
    RELATIONSHIPS AND RELATED PARTY TRANSACTIONS</A></FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">102</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_014">DESCRIPTION
    OF SECURITIES</A></FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">104</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_015">UNITED
    STATES FEDERAL INCOME TAX CONSIDERATIONS</A></FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">116</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_016">UNDERWRITING</A></FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">123</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_017">LEGAL
    MATTERS</A></FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">130</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_018">EXPERTS</A></FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">130</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_019">WHERE
    YOU CAN FIND ADDITIONAL INFORMATION</A></FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">130</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: White">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt 0pt 0in; text-align: left; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#a_020">INDEX
    TO FINANCIAL STATEMENTS</A></FONT></TD>
    <TD STYLE="padding: 0pt 0pt 0in; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">F-1</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>You
should rely only on the information contained in this prospectus. We have not, and the underwriters have not, authorized anyone
to provide you with different information. If anyone provides you with different or inconsistent information, you should not rely
on it. We are not, and the underwriters are not, making an offer to sell securities in any jurisdiction where the offer or sale
is not permitted. You should not assume that the information contained in this prospectus is accurate as of any date other than
the date on the front of this prospectus.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"></P>

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<DIV STYLE="padding: 5pt; border: Black 1.5pt solid; width: 99%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>




<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="a_001"></A>SUMMARY</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">This
summary only highlights the more detailed information appearing elsewhere in this prospectus. As this is a summary, it does not
contain all of the information that you should consider in making an investment decision. You should read this entire prospectus
carefully, including the information under &ldquo;Risk Factors&rdquo; and our financial statements and the related notes included
elsewhere in this prospectus, before investing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Unless
otherwise stated in this prospectus, references to:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;B2B&rdquo;
                                         means business to business and, as used in this prospectus, is used to refer to businesses
                                         that provide products and services to other businesses;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;founder
                                         shares&rdquo; are to shares of our common stock purchased by the initial stockholders
                                         in a private placement prior to this offering;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;initial
                                         stockholders&rdquo; are to holders of our founder shares prior to this offering;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;management&rdquo;
                                         or our &ldquo;management team&rdquo; are to our executive officers and directors;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;private
                                         placement warrants&rdquo; are to the warrants issued in a private placement to our sponsors,
                                         the anchor investor and I-Bankers simultaneously with the closing of this offering;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;public
                                         shares&rdquo; are to shares of our common stock sold as part of the units in this offering
                                         (whether they are purchased in this offering or thereafter in the open market);</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;public
                                         stockholders&rdquo; are to the holders of our public shares, including our sponsors and
                                         management team to the extent our sponsors and/or members of our management team purchase
                                         public shares, provided that our sponsors&rsquo; and member of our management team&rsquo;s
                                         status as a &ldquo;public stockholder&rdquo; shall only exist with respect to such public
                                         shares;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;public
                                         warrants&rdquo; are to the redeemable warrants sold as part of the units in this offering
                                         (whether they are purchased in this offering or thereafter in the open market) and to
                                         any warrants issued upon conversion of working capital loans that are sold to third parties
                                         that are not our initial stockholders or executive officers or directors (or permitted
                                         transferees) following the consummation of our initial business combination;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;sponsors&rdquo;
                                         are to Subash Menon and Sudeesh Yezhuvath (through their investment entity Bannix Management
                                         LLP) and Suresh Yezhuvath;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;warrants&rdquo;
                                         are to our warrants, which includes the public warrants as well as the private placement
                                         warrants to the extent they are no longer held by the initial purchasers of the private
                                         placement warrants or their permitted transferees; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;we,&rdquo;
                                         &ldquo;us,&rdquo; &ldquo;company&rdquo; or &ldquo;our company&rdquo; are to Bannix Acquisition
                                         Corp., a Delaware corporation.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Each
unit consists of one share of common stock and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof
to purchase one share of our common stock at a price of $11.50 per share, subject to adjustment as described in this prospectus,
and only whole warrants are exercisable.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Unless
we tell you otherwise, the information in this prospectus assumes that the underwriters will not exercise the underwriters&rsquo;
over-allotment option.</U></FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
Company</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
are a blank check company formed under the laws of the State of Delaware on January 21, 2021. We were formed for the purpose of
effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one
or more businesses, which we refer to throughout this prospectus as our initial business combination. At the time of preparing
this prospectus, we have not identified any specific business combination, nor has anyone on our behalf initiated or engaged in
any substantive discussions, formal or otherwise, related to such a transaction. Our efforts to date are limited to organizational
activities related to this offering.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<DIV STYLE="padding: 5pt; border: Black 1.5pt solid; width: 99%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Although
we are not limited to a particular industry or geographic region for purposes of consummating an&nbsp;initial business combination,
we intend to focus on B2B enterprise software companies, particularly those operating in the Customer Engagement space
within the telecom, retail and financial services sectors. We will target businesses located in North America and Western Europe,
ideally those with a recurring revenue model and an overall transaction value of at least $400 million.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in; color: #13293D"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black; background-color: white">Customer
Engagement is the process of interacting with customers, either enterprise customers or consumers, through a variety of channels
in order to strengthen relationships with them. Today, given the extremely high volume of interactions that take place in real
time, customer engagement solutions utilize artificial intelligence/ machine learning and leverage big data to more effectively
model and understand customer behavior, expectations and preferences. Such solutions drive revenue and better retention by enabling
enterprises to more effectively communicate and interact with their customers through a superior digital experience. Today&rsquo;s
customer engagement solutions cover a wide variety of applications including communication and fulfillment. These are often implemented
in omni-channel engagement models utilizing a variety of modes and touchpoints including customer relations management (&ldquo;CRM&rdquo;)
platforms, web chat, social media, bots, instant messaging platforms, apps and customer self-service.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in; color: #202122"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black; background-color: white">The
sponsors of Bannix Acquisition Corp. have particular expertise with B2B2X models (&ldquo;business to business to X&rdquo;), where
&ldquo;X&rdquo; represents any type of end user, either enterprises or consumers. Having successfully developed customer engagement
solutions for telecom companies operating within a B2B2X paradigm, we believe the current landscape provides for tremendous opportunities
to acquire similar companies across the retail and financial services sectors.</FONT>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="color: #13293D">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="color: #13293D">&nbsp;</FONT>The
customer engagement arena has been growing and evolving at a rapid pace over the past few years. Given its critical importance
to enterprises, we expect the growth of the space to accelerate in years to come. COVID has also accelerated the speed of adoption
of various customer engagement solutions by enterprises due to the increased need to digitally engage with customers. Accordingly,
we expect a large number of private companies to need capital due to attractive acquisition opportunities. In addition, we see
COVID as a long-term&nbsp;catalyst in accelerating the broader adoption of customer engagement solutions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in">We intend to employ a proactive&nbsp;acquisition
strategy focused on identifying potential business combination targets in our chosen space. Likely targets will include software
companies operating within the overall customer engagement sector for various industry verticals. We believe strongly in our management
team&rsquo;s ability to add value from both an operating and a financing perspective, which has been a key driver of our past
successes and which we believe will continue to be central to our differentiated acquisition strategy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Our ideal target company profile:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font: 11pt Calibri, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="width: 24px; font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operates
    in the B2B enterprise software arena with a recurring revenue business model</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Provides services to the telecom, financial
    services, or retail sectors</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Utilizes big data analytics technologies,
    advanced artificial intelligence/machine learning algorithms, cloud capabilities, and IoT-friendly infrastructure</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in; color: #202122"><FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in; color: #13293D"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
believe the target universe of enterprise software companies offering Customer Engagement solutions is robust, particularly
due to increasing demands and expectations of both enterprise customers and individual consumers. The below graph shows the strong
projected growth of the Customer Engagement Solutions market.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 9pt Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; color: Red"><FONT STYLE="font-family: Times New Roman, Times, Serif"><IMG SRC="img_001.jpg" ALT=""></FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Global
Customer Engagement Solutions Market</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9;<I>Source:
Mordor Intelligence Report (CUSTOMER ENGAGEMENT SOLUTIONS MARKET - GROWTH, &#9;TRENDS, AND FORECAST 2020-2025)</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"></P>
</DIV>
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<DIV STYLE="padding: 5pt; border: Black 1.5pt solid; width: 99%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="text-align: left; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
Management and Business Strategy</FONT></P>

<P STYLE="text-align: left; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
will seek to create compelling stockholder value by leveraging the track record, strong network, and complementary experience
of our management team and sponsors, which includes experts in nearly all facets of the telecommunications, retail and financial
services sectors and strong expertise in investment management. Highlights of our team include the following:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Subash
Menon, Chief Executive Officer and Chairman of the Board</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>&nbsp;</I></B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt">&#9679;</TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Currently
                                         CEO and Co-founder of Pelatro (LON: PTRO), a Customer Engagement enterprise software
                                         company listed on the Alternative Investment Market (&ldquo;AIM&rdquo;) and the London
                                         Stock Exchange (&ldquo;LSE&rdquo;). Having founded Pelatro in 2013, Mr. Menon
                                         has propelled the growth of the company to its current stage, with
                                         currently approximately 200 employees across five offices and an enterprise customer
                                         base of 21 companies across 17 countries. Mr. Menon  guided Pelatro through
                                         a successful initial public offering (&ldquo;IPO&rdquo;) on the LSE in 2017.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
former CEO and Founder of Subex Limited, Mr. Menon grew and transformed a start-up into a publicly-traded enterprise
software company <FONT STYLE="line-height: 107%">providing digital trust products to communication service providers. At its peak
under Mr. Menon&rsquo;s leadership, Subex had over 1,400 employees across 10 offices and generated over $110 million
in revenue across an enterprise customer base of approximately 200 companies. During Mr. Menon&rsquo;s tenure, Subex achieved
a market cap of approximately $430 million and received the &ldquo;NASSCOM Innovation Award&rdquo; from the President of India</FONT><FONT STYLE="line-height: 107%">.</FONT></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.75in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Guided
                                         company through multiple acquisitions in the UK, US and Canada and through a
                                         successful IPO in 1999 in India: National Stock Exchange (NSE: SUBEXLTD) and Bombay
                                         Stock Exchange (BSE: 532348).</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.75in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Financial
                                         instruments of Subex are listed on stock exchanges in London, Luxembourg and Singapore.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Degree
                                         in Electrical Engineering with Honors from the prestigious NIT, Durgapur in India and
                                         is a Distinguished Alumnus.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Sudeesh
Yezhuvath, Chief Operating Officer and Director</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>&nbsp;</I></B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Three
                                         decades of experience in the telecom industry. Areas of expertise include post-merger
                                         integration, sales, marketing, product management, technical operations and human
                                         resources.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Currently
                                         COO, Co-Founder and Executive Director of Pelatro, a Customer Engagement enterprise
                                         software company listed on the AIM and the LSE.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Former
                                         COO and Member of the Board of Directors at Subex Ltd. At Subex, oversaw Post-Merger
                                         Integration of its many acquisitions including the then-largest cross-border software
                                         product acquisition from India.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt">&nbsp;</TD>
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">B.Tech degree from the University of Calicut.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt">&nbsp;</TD>
<TD STYLE="text-align: left; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt">&nbsp;</TD>
<TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt">&nbsp;</TD>
<TD STYLE="text-align: left; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt">&#9679;</TD>
<TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt">Successfully worked together with Mr. Menon for two decades, having built and grown two successful enterprise software companies and navigated them through IPOs.</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Nicholos
Hellyer, Chief Financial Officer</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>&nbsp;</I></B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Currently
                                         Finance Director of Pelatro Plc; responsible for all financial aspects of the IPO process,
                                         including historic reporting and IFRS conversion.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT>&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Former
                                         Senior Investment Banker at UBS, HSBC, and Opus Corporate Finance; advised small and
                                         midcap companies in a broad range of transactions, including IPOs, fundraisings and mergers
                                         and acquisitions (&ldquo;M&amp;A&rdquo;) for growth and entrepreneurial companies.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Previously
                                         held non-executive director roles in companies quoted on the UK AIM and the Swedish Nasdaq
                                         First North markets.</FONT></TD></TR>                                                                                                                                                                                                                                          <TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt">&nbsp;</TD><TD STYLE="text-align: left; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt">&nbsp;</TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt">&nbsp;</TD><TD STYLE="text-align: left; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt">&#9679;</TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt">Qualified
                                         as a Chartered Accountant with KPMG</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">B.Sc.
                                         (First Class Honors) in Geography and Geology from Kings College London.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Dr.
Hossein Eslambolchi, Independent Director</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>&nbsp;</I></B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Chairman
                                         and CEO of CyberFlow Analytics, a cyber-intelligence software-as-a-service (&ldquo;SaaS&rdquo;)
                                         company, and 2020 Venture Partners, which provides <FONT STYLE="background-color: white">technology
                                         and operations consulting to Private Equity Firms and&nbsp;Venture&nbsp;Capitalists in
                                         the areas of Telecommunication Infrastructure, Network Intelligence and Information and
                                         Communications Technology (&ldquo;ICT&rdquo;)</FONT>.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director
                                         of Clearwire Corporation from 2010-2013 and is on the Board of Directors for Hyperoffice,
                                         a privately-held enterprise software company offering web collaboration, online
                                         meeting, web conferencing, online database and email marketing applications to the small
                                         and mid-sized business segment</FONT>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="text-align: left; margin-top: 0; margin-bottom: 0"></P>
</DIV>
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    <DIV STYLE=" margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<DIV STYLE="padding: 5pt; border: Black 1.5pt solid; width: 99%"><P STYLE="text-align: left; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt">&#9679;<FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">J<FONT STYLE="font-size: 10pt; line-height: 107%">oined
                                         AT&amp;T Bell Laboratories&nbsp;in 1986 and rose to become global CTO and CIO, President
                                         and CEO of AT&amp;T Labs and AT&amp;T Global Network Services and was a 16b officer of
                                         the company as of 2001. Served on AT&amp;T&rsquo;s governing Executive Committee.</FONT></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Regarded
                                         in scientific community as expert in IP network design and reliability, security, IP
                                         technologies, services and IP applications. Known for establishing industry
                                         standard business processes such as the  &ldquo;Concept of One&rdquo; and the
                                         &ldquo;Concept of Zero,&rdquo; and the &ldquo;Concept of None&rdquo; <FONT STYLE="line-height: 107%">which
                                         have been applied effectively to streamline production processes.&nbsp; Also</FONT><FONT STYLE="line-height: 107%">&nbsp;
                                         known in the industry for the &ldquo;Eslambolchi Law of Complexity,&rdquo; a unique
                                         model designed to govern telecom protocols.</FONT></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">
                                         Serves on Board of Advisors to the University of California San Diego School Of Engineering, Allegis Capital VC, SquareZero, RainStor, Prodapt, Tickets48 and PureWave Networks. Dr. Eslambolchi also serves as a member of the Board of Trustees for the Shiraz University School of Medical Sciences in New York City.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">BS,
                                         MS, Ph.D. and Post Doc degrees in Applied &amp; Astro Physics along with MD in Neurosurgery
                                         with highest honors from University of California San Diego</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Sample
                                         Achievements:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.75in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Holds
                                         over 1,000 patents worldwide</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.75in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">AT&amp;T
                                         Fellow Award, AT&amp;T&rsquo;s highest technical honor, 1999</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.75in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Thomas
                                         Alva Edison Inventor of the Year Award by the New Jersey Inventors Hall of Fame, 1997
                                         and 2013.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.75in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Top
                                         100 alumni in the history of the University of California San Diego.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Vishant
Vora, Independent Director</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>&nbsp;</I></B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Technology
                                         executive with over 30 years of experience in the telecom industry across the Americas,
                                         Europe and Asia.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Currently
                                         President of Global Operations and Managed Services at Mavenir (<FONT STYLE="font-size: 11pt; line-height: 107%">approx.
                                         $427 million revenue in 2019)</FONT> with responsibility for <FONT STYLE="background-color: white">global
                                         end-to-end business operations including network design, rollout and deployments, solutions
                                         and systems integration services, managed services and related strategic initiatives.</FONT></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Mr.
                                         Vora</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif"> led the technological
                                         transformation at Vodafone Romania as the CTO helping to grow the subscriber base over
                                         12 times.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Also
                                         </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">a member of the Vodafone
                                         Global Technology Board responsible for the technological direction and strategy for
                                         the Vodafone Group.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
                                         CTO of Vodafone Idea, India, Mr. Vora successfully integrated the networks and
                                         operations of Vodafone and Idea into a global behemoth with over 300 million subscribers.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">At
                                         Vodafone Idea, India, Mr. Vora oversaw a budget of approximately $4.5 billion
                                         while leading a team of 6,000 people.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Awarded
                                         </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;CTO of the
                                         Year in India&rdquo; award in 2014.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Alumnus
                                         </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">of the Harvard Business
                                         School where he completed the General Management Program in Business Administration.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Degree
                                         </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">in Electrical Engineering
                                         from Lawrence Technological University, US.</FONT></TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Dr.
Kumar Shiralagi, Independent Director</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>&nbsp;</I></B></FONT></P>

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<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Investment
                                         advisor in the VC/PE industry since 2003</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Former
                                         Managing Director at Kalaari Capital Advisors in India. Kalaari manages over $650 million
                                         and has several investments in the business-to-consumer (&ldquo;B2C&rdquo;) space,
                                         including milkbasket, Zivame and Snapdeal. Previously served as India country
                                         head and Director for Intel Capital&rsquo;s investments in South Asia. Intel Capital
                                         is a fund set up by Intel Corporation, focused on emerging technologies including
                                         cloud computing, artificial intelligence/machine learning, edge computing
                                         and cyber security. Intel Capital past investments include companies such as
                                         Broadcom and RedHat. Dr. Shiralagi served in key roles as an investor and a Board
                                         member for the investments made by Kalaari and Intel Capital.</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Scientist
                                         at Motorola Research Laboratories in the field of high-speed devices, optoelectronics
                                         and nanotechnology and published over 60 papers in reputable journals and has 23 issued
                                         patents.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Worked
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">at Motorola Ventures, the global investment arm of Motorola
Solutions which invests in <FONT STYLE="background-color: white">mission critical communications, video security &amp; analytics,
and public safety workflow software</FONT>.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Co-founder
                                         and COO at Lytek Corporation in Phoenix AZ, a manufacturer of surface emitting lasers.</FONT></TD></TR>                                                                                                                                                                                                                                                                                                                                                                                                                                                <TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt">&nbsp;</TD><TD STYLE="text-align: left; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt">&nbsp;</TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt">&nbsp;</TD><TD STYLE="text-align: left; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt">&#9679;</TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt">MBA
                                         from Thunderbird</TD></TR>
</TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Bachelors
                                         in Electronics and Communications from National Institute of Technology, Surathkal in
                                         1984; MS and PhD in Electrical Engineering from Arizona State University.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
directors and officers have deep relationships within the software industry and within the end user industries like telecommunications,
financial services and retail. This extensive and deep pool of knowledge, experience and expertise will guide the corporation
successfully with respect to all aspects of business like strategy, identification of appropriate targets, acquisition, integration
and operations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="text-align: left; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Acquisition
Target Criteria</FONT></P>

<P STYLE="text-align: left; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
will seek to identify companies that have compelling market presence, growth potential and a combination of the characteristics
listed below. We will use these criteria and guidelines in evaluating acquisition opportunities, but we may decide to enter our
initial business combination with a target business that does not meet these criteria and guidelines. We intend to acquire companies
or assets that we believe have the following attributes:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<TD STYLE="text-align: left; width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Growth
                                         Potential: high growth history and future trajectory in revenue top line, above industry
                                         average</FONT></TD>
</TR></TABLE>

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<TD STYLE="text-align: left; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
</TR></TABLE>

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<TD STYLE="text-align: left; width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Competitive
                                         Position: Leading or growing market share compared to peer group</FONT></TD>
</TR></TABLE>

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<TD STYLE="text-align: left; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
</TR></TABLE>

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<TD STYLE="text-align: left; width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Management
                                         Team: Talented, highly motivated, experienced with strong execution track record.</FONT></TD>
</TR></TABLE>

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<TD STYLE="text-align: left; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
</TR></TABLE>

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<TD STYLE="text-align: left; width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Profitability
                                         or visible path to profitability: Strong business economics and good operating results
                                         leading to profitability</FONT></TD>
</TR></TABLE>

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<TD STYLE="text-align: left; width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
</TR></TABLE>

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<TD STYLE="text-align: left; width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Operational
                                         Efficiency: Possibility to improve through introduction of processes.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">These
criteria are not intended to be exhaustive. Any evaluation relating to the merits of a particular initial business combination
may be based, to the extent relevant, on these general guidelines as well as other considerations, factors and criteria that our
management may deem relevant.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Initial
Business Combination</B></FONT></P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
will have until 18&nbsp;months from the closing of this offering to consummate our initial business combination. However, if we
anticipate that we may not be able to consummate our initial business combination within 18&nbsp;months, we may, by resolution
of our board of directors if requested by our initial stockholders, extend the period of time to consummate a business combination
up to two times, each by an additional three months (for a total of up to 24&nbsp;months to complete a business combination),
subject to the sponsors depositing additional funds into the trust account as set out below. Pursuant to the terms of our amended
and restated certificate of incorporation and the trust agreement to be entered into between us and Continental Stock Transfer
&amp; Trust Company on the date of this prospectus, in order to extend the time available for us to consummate our initial business
combination, our initial stockholders or their affiliates or designees, upon five days advance notice prior to the applicable
deadline, must deposit into the trust account for each three-month&nbsp;extension, $1,000,000, or $1,150,000 if the underwriters&rsquo;
over-allotment&nbsp;option is exercised in full ($0.10 per share in either case) on or prior to the date of the applicable deadline,
up to an aggregate of $2,000,000 (or $2,300,000 if the underwriters&rsquo; over-allotment&nbsp;option is exercised in full), or
approximately $0.20 per share. In the event that we receive notice from our sponsors five days prior to the applicable deadline
of its wish for us to effect an extension, we intend to issue a press release announcing such intention at least three days prior
to the applicable deadline. In addition, we intend to issue a press release the day after the applicable deadline announcing whether
or not the funds had been timely deposited. Our sponsors and its affiliates or designees are not obligated to fund the trust account
to extend the time for us to complete our initial business combination. If we are unable to consummate our initial business combination
within the applicable time period, we will, promptly but not more than ten business days thereafter, redeem the public shares
for a pro rata portion of the funds held in the trust account and promptly 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. In such event, the warrants will
be worthless. Additionally, pursuant to Nasdaq rules, any initial business combination must be approved by a majority of our independent
directors.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
anticipate structuring our initial business combination so that the post-transaction&nbsp;company in which our public stockholders
own shares will own or acquire substantially all of the equity interests or assets of the target business or businesses. We may,
however, structure our initial business combination such that the post-transaction&nbsp;company owns or acquires less than substantially
all of such interests or assets of the target business in order to meet certain objectives of the target management team or stockholders
or for other reasons, but we will only complete such business combination if the post-transaction&nbsp;company owns or acquires
50% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient
for it not to be required to register as an investment company under the Investment Company Act of 1940, as amended (the &ldquo;Investment
Company Act&rdquo;). Even if the post-transaction&nbsp;company owns or acquires 50% or more of the voting securities of the target,
our stockholders prior to the initial business combination may collectively own a minority interest in the post-transaction&nbsp;company,
depending on valuations ascribed to the target and us in the business combination transaction. For example, we could pursue a
transaction in which we issue a substantial number of new shares in exchange for all of the outstanding capital stock of shares
or other equity interests. In this case, we would acquire a 100% controlling interest in the target. However, as a result of the
issuance of a substantial number of new shares, our stockholders immediately prior to our initial business combination could own
less than a majority of our outstanding shares subsequent to our initial business combination. If less than 100% of the equity
interests or assets of a target business or businesses are owned or acquired by the post-transaction&nbsp;company, the portion
of such business or businesses that is owned or acquired is what will be valued for purposes of the 80% of net assets test. If
the initial business combination involves more than one target business, the 80% of net assets test will be based on the aggregate
value of all of the target businesses even if the acquisitions of the target businesses are not closed simultaneously.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Although
we believe that the net proceeds of this offering will be sufficient to allow us to consummate a business combination, because
we have not yet identified any prospective target business, we cannot ascertain the capital requirements for any particular transaction.
If the net proceeds of this offering prove to be insufficient, either because of the size of the business combination, the depletion
of the available net proceeds in search of a target business, or because we become obligated to redeem a significant number of
our public shares upon consummation of our initial business combination, we will be required to seek additional financing, in
which case we may issue additional securities or incur debt in connection with such business combination. Furthermore, we may
issue a substantial number of additional ordinary or preferred shares to complete our initial business combination or under an
employee incentive plan upon or after consummation of our initial business combination (although our amended and restated certificate
of incorporation will provide that we may not issue securities that can vote with ordinary stockholders on matters related to
our pre-initial&nbsp;business combination activity). We do not have a maximum debt leverage ratio or a policy with respect to
how much debt we may incur. The amount of debt we will be willing to incur will depend on the facts and circumstances of the proposed
business combination and market conditions at the time of the potential business combination. At this time, we are not party to
any arrangement or understanding with any third party with respect to raising additional funds through the sale of our securities
or the incurrence of debt. Subject to compliance with applicable securities laws, we would only consummate such financing simultaneously
with the consummation of our initial business combination</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Nasdaq
rules require that our initial business combination must occur with one or more target businesses that together have an aggregate
fair market value of at least 80% of the assets held in the trust account (excluding advisory fees and taxes payable on the income
earned on the trust account) at the time of the agreement to enter into the initial business combination. If our board of directors
is not able to independently determine the fair market value of the target business or businesses, we will obtain an opinion from
an independent investment banking firm or an independent accounting firm with respect to the satisfaction of such criteria. We
do not intend to purchase multiple businesses in unrelated industries in connection with our initial business combination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"></P>
</DIV>
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<DIV STYLE="padding: 5pt; border: Black 1.5pt solid; width: 99%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Our
Acquisition Process</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
process starts with a deep analysis of the future needs of the industry that we seek to enter and then crafting an appropriate
strategy to ensure success. On the basis of this strategy, our management team will work with its advisors to identify and prepare
a list of target companies. This list will be expanded with the help of investment bankers who specialize in M&amp;A in our chosen
area. Once the list has been finalized, the investment banker retained by us will be mandated to approach the targets and initiate
discussions. Thus, the approach is not to merely evaluate companies identified by the investment bankers. Rather, it is to identify
those companies that fit our strategy and then to approach them i.e. focused and targeted.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
believe that conducting comprehensive due diligence on prospective investments is particularly important to achieve a successful
business combination. We will utilize the diligence, rigor, and expertise of available resources of the network of our management
team including the members of our board of directors to evaluate potential targets&rsquo; strengths, weaknesses, and opportunities
to identify the relative risk and return profile of any potential target for our initial business combination. Given our management
team&rsquo;s extensive experience in evaluating investment opportunities and conducting due diligence, we will often be familiar
with the prospective target&rsquo;s end-market, competitive landscape and business model. We certainly will engage third parties
to assist us when needed.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
evaluating a prospective target for an initial business combination, we expect to conduct a thorough diligence review that will
encompass, among other things, meetings with incumbent management and employees, document reviews, inspection of facilities, financial
analyses and technology reviews, as well as a review of other information that will be made available to us.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
are not prohibited from pursuing an initial business combination with a company affiliated with our sponsors, our officers, or
our directors, subject to certain approvals and consents. In the event we seek to complete our initial business combination with
a company that is affiliated with our sponsors, officers or directors, we, or a committee of independent directors, will obtain
an opinion from an independent investment banking firm which is a member of the Financial Industry Regulatory Authority, Inc.
(&ldquo;FINRA&rdquo;) or an independent accounting firm that our initial business combination is fair to us from a financial point
of view.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
currently do not have any specific targets for an initial business combination selected. Our officers and directors have not contacted
nor had any discussions with possible target businesses in which they directly or indirectly proposed or encouraged a potential
target to consider a possible combination with us. We have not (nor has anyone on our behalf) contacted any prospective target
business or had any discussions, formal or otherwise, with respect to a business combination transaction with any prospective
target business. We have not (nor have any of our agents or affiliates) been approached by any candidates (or representative of
any candidates) with respect to a possible business combination with us.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Each
of our officers and directors presently has, and any of them in the future may have additional, fiduciary or contractual obligations
to other entities pursuant to which such officer or director is or will be required to present a business combination opportunity,
subject to his or her fiduciary duties under Delaware law. Accordingly, if any of our officers or directors becomes aware of a
business combination opportunity which is suitable for an entity to which he or she has then-current&nbsp;fiduciary or contractual
obligations, he or she will honor his or her fiduciary or contractual obligations to present such opportunity to such entity,
subject to his or her fiduciary duties under Delaware law. Our amended and restated certificate of incorporation will provide
that we renounce our interest in any corporate opportunity offered to any director or officer unless such opportunity is expressly
offered to such person solely in his or her capacity as a director or officer of our company and such opportunity is one we are
legally and contractually permitted to undertake and would otherwise be reasonable for us to pursue.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-style: normal">Status
as a public company</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-style: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
believe our structure will make us an attractive business combination partner to target businesses. As an existing public company,
we offer a target business an alternative to the traditional initial public offering through a merger or other business combination.
In this situation, the owners of the target business would exchange their shares of stock in the target business for shares of
our stock or for a combination of shares of our stock and cash, allowing us to tailor the consideration to the specific needs
of the sellers. We believe target businesses might find this method a more certain and cost-effective method to becoming a public
company than the typical initial public offering. In a typical initial public offering, there are additional expenses incurred
in marketing, roadshow and public reporting efforts that will likely not be present to the same extent in connection with a business
combination with us. Furthermore, once the business combination is consummated, the target business will have effectively become
public, whereas an initial public offering is always subject to the underwriters&rsquo; ability to complete the offering, as well
as general market conditions, that could prevent the offering from occurring. Once public, we believe the target business would
then have greater access to capital and an additional means of providing management incentives consistent with stockholders&rsquo;
interests than it would have as a privately held company. It can offer further benefits by augmenting a company&rsquo;s profile
among potential new customers and vendors and aid in attracting talented employees.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">While
we believe that our status as a public company will make us an attractive business partner, some potential target businesses may
view the inherent limitations in our status as a blank check company as a deterrent and may prefer to effect a business combination
with a more established entity or with a private company. These inherent limitations include limitations on our available financial
resources, which may be inferior to those of other entities pursuing the acquisition of similar target businesses; the requirement
that we seek stockholder approval of a business combination or conduct a tender offer in relation thereto, which may delay the
consummation of a transaction; and the existence of our outstanding warrants, which may represent a source of future dilution.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Corporate
Information</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
executive offices are located at 300 Tice Boulevard, Suite 315, Woodcliff Lake, New Jersey 07677, and our telephone number is
(201) 712-9800.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
are an &ldquo;emerging growth company,&rdquo; as defined in Section 2(a) of the Securities Act of 1933, as amended, or the Securities
Act, as modified by the Jumpstart Our Business Startups Act of 2012, or the JOBS Act. As such, we are eligible to take advantage
of certain exemptions from various reporting requirements that are applicable to other public companies that are not &ldquo;emerging
growth companies&rdquo; including, but not limited to, not being required to comply with the auditor attestation requirements
of Section 404 of the Sarbanes-Oxley Act of 2002, or the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive
compensation in our periodic reports and proxy statements, and exemptions from the requirements of holding a non-binding advisory
vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. If some investors
find our securities less attractive as a result, there may be a less active trading market for our securities and the prices of
our securities may be more volatile.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
addition, Section 107 of the JOBS Act also provides that an &ldquo;emerging growth company&rdquo; can take advantage of the extended
transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards.
In other words, an &ldquo;emerging growth company&rdquo; can delay the adoption of certain accounting standards until those standards
would otherwise apply to private companies. We intend to take advantage of the benefits of this extended transition period.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
will remain an emerging growth company until the earlier of (1) the last day of the fiscal year (a) following the fifth anniversary
of the completion of this offering, (b) in which we have total annual gross revenue of at least $1.07 billion, or (c) in which
we are deemed to be a large accelerated filer, which means the market value of our common stock that is held by non-affiliates
exceeds $700 million as of the prior June 30th, and (2) the date on which we have issued more than $1.00 billion in non-convertible
debt securities during the prior three-year period. References herein to &ldquo;emerging growth company&rdquo; shall have the
meaning associated with it in the JOBS Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Additionally,
we are a &ldquo;smaller reporting company&rdquo; as defined in Rule&nbsp;10(f)(1) of Regulation S-K. Smaller reporting companies
may take advantage of certain reduced disclosure obligations, including, among other things, providing only two years of audited
financial statements. We will remain a smaller reporting company until the last day of the fiscal year in which (1)&nbsp;the market
value of our common stock held by non-affiliates&nbsp;exceeds $250&nbsp;million as of the end of the prior June 30<SUP>th</SUP>,
or (2)&nbsp;our annual revenues exceeded $100&nbsp;million during such completed fiscal year and the market value of our common
stock held by non-affiliates&nbsp;exceeds $700&nbsp;million as of the prior June 30<SUP>th</SUP>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"></P>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Offering</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>In
making your decision on whether to invest in our securities, you should take into account not only the backgrounds of the members
of our management team, but also the special risks we face as a blank check company and the fact that this offering is not being
conducted in compliance with Rule 419 promulgated under the Securities Act. You will not be entitled to protections normally afforded
to investors in Rule 419 blank check offerings. You should carefully consider these and the other risks set forth in the section
below entitled &ldquo;Risk Factors.&rdquo;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>&nbsp;</I></B></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 99%; margin-left: -4.75pt; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; width: 40%; padding-left: 0.125in; text-indent: -0.125in; padding-right: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Securities
    offered&#9;</FONT></TD>
    <TD STYLE="padding-top: 0pt; width: 60%; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><P STYLE="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">10,000,000
                                         units, at $10.00 per unit, each unit consisting of:</FONT></P>
        <P STYLE="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 18pt; text-indent: -18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;&#9;&nbsp;&nbsp;&nbsp;&nbsp;one
        share of common stock; and</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 20pt; text-indent: -20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 18pt; text-indent: -18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;&#9;&nbsp;&nbsp;&nbsp;&nbsp;one-half
        of one redeemable warrant to purchase one share of common stock.</FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-left: 0.125in; text-indent: -0.125in; padding-right: 0pt"></TD>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><P STYLE="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-left: 0.125in; text-indent: -0.125in; padding-right: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Proposed
    Nasdaq symbols&#9;</FONT></TD>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Units:
                                         &ldquo; U&rdquo;</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>&#9679;&#9;&nbsp;&nbsp;&nbsp;&nbsp;Common Stock: &ldquo;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
        &rdquo;<BR>
<BR>
&#9679;&#9;&nbsp;&nbsp;&nbsp;&nbsp;Warrants: &ldquo; W&rdquo;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-left: 0.125in; text-indent: -0.125in; padding-right: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-left: 0.125in; text-indent: -0.125in; padding-right: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Trading
    commencement and separation of common stock and warrants&#9;</FONT></TD>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
    units will begin trading promptly after the date of this prospectus. The common stock and warrants comprising the units will
    begin separate trading on the 52nd day following the date of this prospectus (or if such date is not a business day, the following
    business day) unless I-Bankers informs us of their decision to allow earlier separate trading, subject to our having filed
    the Current Report on Form 8-K described below and having issued a press release announcing when such separate trading will
    begin. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Accordingly,
    unless you purchase at least two units, you will not be able to receive or trade a whole warrant. At the time that the common
    stock and warrants comprising the units begin separate trading, holders will hold the separate securities and no longer hold
    units (without any action needing to be taken by the holders), and the units will no longer trade.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-left: 0.125in; text-indent: -0.125in; padding-right: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Separate
    trading of the common stock and warrants is prohibited until we have filed a Current Report on Form 8-K&#9;</FONT></TD>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><BR>
    In no event will the common stock and warrants be traded separately until we have filed with the SEC a Current Report on Form
    8-K which includes an audited balance sheet reflecting our receipt of the gross proceeds at the closing of this offering.
    We will file the Current Report on Form 8-K promptly after the closing of this offering, which is anticipated to take place
    three business days from the date of this prospectus. If the underwriters&rsquo; over-allotment option is exercised following
    the initial filing of such Current Report on Form 8-K, a second or amended Current Report on Form 8-K will be filed to provide
    updated financial information to reflect the exercise of the underwriters&rsquo; over-allotment option.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"></P>
</DIV>
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<DIV STYLE="padding: 5pt; border: Black 1.5pt solid; width: 99%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 98%; margin-left: -4.75pt; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt 0pt 10pt 0.125in; width: 40%; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Units:</B></FONT></TD>
    <TD STYLE="padding: 0pt 0pt 10pt; width: 60%; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt 0pt 10pt 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Number
    outstanding before this offering&#9;</FONT></TD>
    <TD STYLE="padding: 0pt 0pt 10pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">0</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt 0pt 10pt 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Number
    outstanding after this offering&#9;</FONT></TD>
    <TD STYLE="padding: 0pt 0pt 10pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">10,000,000 (assuming
    no exercise of the underwriters&rsquo; over-allotment option)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt 0pt 10pt 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Common
    stock:</B></FONT></TD>
    <TD STYLE="padding: 0pt 0pt 10pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt 0pt 10pt 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Number
    outstanding before this offering&#9;</FONT></TD>
    <TD STYLE="padding: 0pt 0pt 10pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,875,000<SUP>(1)</SUP></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt 0pt 10pt 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Number
    outstanding after this offering&#9;</FONT></TD>
    <TD STYLE="padding: 0pt 0pt 10pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">12,750,000<SUP>(2)
    </SUP>(assuming no exercise of the underwriters&rsquo; over-allotment option)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt 0pt 10pt 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Warrants:</B></FONT></TD>
    <TD STYLE="padding: 0pt 0pt 10pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt 0pt 10pt 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Number
    of warrants outstanding before this offering</FONT></TD>
    <TD STYLE="padding: 0pt 0pt 10pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">0</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt 0pt 10pt 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Number
    of private placement warrants to be sold simultaneously with this offering&#9;</FONT></TD>
    <TD STYLE="padding: 0pt 0pt 10pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">3,500,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt 0pt 10pt 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Number
    of warrants to be outstanding after this offering and the private placement&#9;</FONT></TD>
    <TD STYLE="padding: 0pt 0pt 10pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">8,800,000<SUP>(3)
    </SUP>(assuming no exercise of the underwriters&rsquo; over-allotment option)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt 0pt 10pt 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Exercisability&#9;</FONT></TD>
    <TD STYLE="padding: 0pt 0pt 10pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Each whole warrant
    offered in this offering is exercisable to purchase one share of our common stock. No fractional warrants will be issued upon
    separation of the units and only whole warrants will trade.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt 0pt 10pt 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Exercise
    price</FONT></TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$11.50 per share, subject
    to adjustments as described herein. In addition, if (x) we issue additional shares of common stock or equity-linked securities
    for capital raising purposes in connection with the closing of our initial business combination at an issue price or effective
    issue price of less than $9.20 per share of common stock (with such issue price or effective issue price to be determined
    in good faith by our board of directors and, in the case of any such issuance to our initial stockholders or their affiliates,
    without taking into account any founder shares held by such stockholders or their affiliates, as applicable, prior to such
    issuance (the &ldquo;Newly Issued Price&rdquo;)), (y) the aggregate gross proceeds from such issuances represent more than
    60% of the total equity proceeds, and interest thereon, available for funding our initial business combination (net of redemptions),
    and (z) the volume weighted average trading price of our common stock during the 20 trading day period starting on the trading
    day prior to the day on which we consummate our business combination (such price, the &ldquo;Market Value&rdquo;) is below
    $9.20 per share, the exercise price shall be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market
    Value and the Newly Issued Price, and the $18.00 per share redemption trigger price described in the section &ldquo;Redemption
    of warrants&rdquo; will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly
    Issued Price.</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1)</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">This
                                         number consists of solely founder shares and includes up to 375,000 shares that are subject
                                         to forfeiture by our sponsors depending on the extent to which the underwriters&rsquo;
                                         over-allotment option is exercised. Except as otherwise specified, the rest of this prospectus
                                         has been drafted to give effect to the full forfeiture of these 375,000 shares.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.5in"></P>
</DIV>
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    <DIV STYLE=" margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->
<DIV STYLE="padding: 5pt; border: Black 1.5pt solid; width: 99%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(2)</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Includes
                                         10,000,000 public shares, 2,500,000 founder shares and 250,000 shares to be issued to
                                         the representative of the underwriters upon the closing of this offering.</FONT></TD></TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(3)</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Includes
                                         5,000,000 public warrants, 3,500,000 private placement warrants and 300,000 warrants
                                         to be issued to the representative of the underwriters.</FONT></TD></TR></TABLE>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 98%; margin-left: -4.75pt; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; width: 40%; padding-left: 0pt; text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Exercise
    period&#9;</FONT></TD>
    <TD STYLE="padding-top: 0pt; width: 60%; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
                                         warrants will become exercisable on the later of:</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 18pt; text-indent: -18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;&#9;&nbsp;&nbsp;&nbsp;&nbsp;30
        days after the completion of our initial business combination, and</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 18pt; text-indent: -18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12
        months from the closing of this offering;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">provided
        in each case that we have an effective registration statement under the Securities Act covering the shares of common stock
        issuable upon exercise of the warrants and a current prospectus relating to them is available (or we permit holders to
        exercise their warrants on a cashless basis under the circumstances specified in the warrant agreement).</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
        are not registering the shares of 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 30 business days after the closing of our initial business combination,
        we will use our reasonable best efforts to file, and within 90 business days after the closing of our initial business
        combination, to have declared effective, a registration statement relating to those shares of common stock, and to maintain
        a current prospectus relating to such shares of common stock until the warrants expire or are redeemed. Notwithstanding
        the foregoing, if a registration statement covering the shares of common stock issuable upon exercise of the warrants
        is not effective within the above specified period following the consummation of our initial business combination, warrant
        holders may, until such time as there is an effective registration statement and during any period when we shall have
        failed to maintain an effective registration statement, exercise warrants on a cashless basis pursuant to the exemption
        provided by Section 3(a)(9) of the Securities Act of 1933, as amended, or the Securities Act, provided that such exemption
        is available. If that exemption, or another exemption, is not available, holders will not be able to exercise their warrants
        on a cashless basis.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
        warrants will expire at 5:00 p.m., New York City time, five years after the completion of our initial business combination
        or earlier upon redemption or liquidation. On the exercise of any warrant, the warrant exercise price will be paid directly
        to us and not placed in the trust account.</FONT></P></TD></TR>
</TABLE>

<P STYLE="margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
</DIV>
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    <DIV STYLE=" margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page --><DIV STYLE="padding: 5pt; border: Black 1.5pt solid; width: 99%"><P STYLE="margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 98%; margin-left: -4.75pt; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 40%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Redemption
                                         of warrants&#9;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 60%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Once
                                         the warrants become exercisable, we may redeem the outstanding warrants (except as described
                                         herein with respect to the private placement warrants):</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 18pt; text-indent: -18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;&nbsp;&nbsp;&nbsp;&nbsp;&#9;in
        whole and not in part;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 18pt; text-indent: -18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 18pt; text-indent: -18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;&nbsp;&nbsp;&nbsp;&nbsp;&#9;at
        a price of $0.01 per warrant;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 18pt; text-indent: -18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 18pt; text-indent: -18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;&nbsp;&nbsp;&nbsp;&nbsp;&#9;upon
        a minimum of 30 days&rsquo; prior written notice of redemption, which we refer to as the 30-day redemption period; and</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 18pt; text-indent: -18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 18pt; text-indent: -18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;&nbsp;&nbsp;&nbsp;&nbsp;&#9;if,
        and only if, the last sale price of our common stock equals or exceeds $18.00 per share for any 20 trading days within
        a 30-trading day period ending on the third trading day prior to the date on which we send the notice of redemption to
        the warrant holders.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
        will not redeem the warrants unless an effective registration statement under the Securities Act covering the shares of
        common stock issuable upon exercise of the warrants is effective and a current prospectus relating to those shares of
        common stock is available throughout the 30-day redemption period, except if the warrants may be exercised on a cashless
        basis and such cashless exercise is exempt from registration under the Securities Act. We may not redeem the warrants
        when a holder may not exercise such warrants.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
        we call the warrants for redemption as described above, our management will have the option to require all holders that
        wish to exercise warrants to do so on a &ldquo;cashless basis.&rdquo; In determining whether to require all holders to
        exercise their warrants on a &ldquo;cashless basis,&rdquo; our management will consider, among other factors, our cash
        position, the number of warrants that are outstanding and the dilutive effect on our stockholders of issuing the maximum
        number of shares of common stock issuable upon the exercise of our warrants. In such event, each holder would pay the
        exercise price by surrendering the warrants for that number of shares of common stock equal to the quotient obtained by
        dividing (x) the product of the number of shares of common stock underlying the warrants, multiplied by the difference
        between the exercise price of the warrants and the &ldquo;fair market value&rdquo; (defined below) by (y) the fair market
        value. The &ldquo;fair market value&rdquo; shall mean the average reported last sale price of the common stock for the
        10 trading days ending on the third trading day prior to the date on which the notice of redemption is sent to the holders
        of warrants. Please see the section entitled &ldquo;Description of Securities &mdash; Warrants &mdash; Public Stockholders&rsquo;
        Warrants&rdquo; for additional information.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">None
        of the private placement warrants will be redeemable by us so long as they are held by the initial purchasers of the private
        placement warrants or their permitted transferees.</FONT></P></TD></TR>
</TABLE>

<P STYLE="margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="margin: 0"></P>
</DIV>
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    <!-- Field: /Page -->
<DIV STYLE="padding: 5pt; border: Black 1.5pt solid; width: 99%"><P STYLE="margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 98%; margin-left: -4.75pt; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 40%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Founder
                                         shares&#9;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 60%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt">Our
                                         initial stockholders have purchased or will purchase upon closing of this
                                         offering 2,875,000 founder shares for an aggregate purchase price of $28,750 (up
                                         to 375,000 of which are subject to forfeiture). Prior to our receipt of any proceeds
                                         related to the initial investment in the company of $28,750, we had no assets, tangible
                                         or intangible.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
        we increase or decrease the size of this offering, we will effect a stock dividend or share contribution back to capital
        or other appropriate mechanism, as applicable, with respect to our common stock immediately prior to the consummation
        of this offering in such amount as to maintain the ownership of founder shares by our initial stockholders at 20% of our
        issued and outstanding shares of our common stock upon the consummation of this offering (excluding the representative&rsquo;s
        shares). Up to 375,000 founder shares held by our sponsors are subject to forfeiture depending on the extent to which
        the underwriters&rsquo; over-allotment option is exercised.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
        founder shares are identical to the shares of common stock included in the units being sold in this offering, except that:</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 18pt; text-indent: -18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;&#9;&nbsp;&nbsp;&nbsp;&nbsp;the
        founder shares are subject to certain transfer restrictions, as described in more detail below,</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 18pt; text-indent: -18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;&#9;&nbsp;&nbsp;&nbsp;&nbsp;our
        sponsors, officers and directors have entered into a letter agreement with us, pursuant to which they have agreed (i)
        to waive their redemption rights with respect to their founder shares and public shares in connection with the completion
        of our initial business combination and (ii) to waive their rights to liquidating distributions from the trust account
        with respect to their founder shares if we fail to complete our initial business combination within 18 months from the
        closing of this offering (or up to 24 months from the closing of this offering if we extend the period of time to consummate
        a business combination, as described in more detail in this prospectus), 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 business combination
        within the prescribed time frame). Our sponsors, officers and directors have agreed to vote their founder shares and any
        public shares purchased during or after this offering in favor of our initial business combination. As a result, in addition
        to the founder shares held by our sponsors, we would need 3,875,001 shares, or 38.75%, of the 10,000,000
        public shares sold in this offering to be voted in favor of a transaction (assuming all outstanding shares are voted)
        in order to have our initial business combination approved (assuming the underwriters&rsquo; over-allotment option is
        not exercised). Furthermore, assuming only the minimum number of stockholders required to be present at the stockholders&rsquo;
        meeting held to approve our initial business combination are present at such meeting, we would need only 687,502 shares
        of the 10,000,000 public shares, or approximately 5.39% of the shares sold as part of the units in this offering,
        to be voted in favor of our initial business combination in order to have such transaction approved (assuming the underwriters&rsquo;
        over-allotment option is not exercised). In addition, in the event that our board of directors amends our bylaws to reduce
        the number of shares required to be present at a meeting of our stockholders, we would need even fewer public shares to
        be voted in favor of our initial business combination to have such transaction approved; and</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;&#9;&nbsp;&nbsp;&nbsp;&nbsp;the
        founder shares are subject to registration rights.</FONT></P></TD></TR>
</TABLE>

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<P STYLE="margin: 0"></P>
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<P STYLE="margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
<DIV STYLE="padding: 5pt; border: Black 1.5pt solid; width: 99%"><TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 98%; margin-left: -4.75pt; border-collapse: collapse">
<TR STYLE="vertical-align: top"><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 40%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Transfer
                                         restrictions on founder shares&#9;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 60%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
                                         initial stockholders have agreed not to transfer, assign or sell any of their founder
                                         shares until the earlier to occur of: (A) one year after the completion of our initial
                                         business combination or (B) the date on which we complete a liquidation, merger, stock
                                         exchange or other similar transaction after our initial business combination that results
                                         in all of our public stockholders having the right to exchange their shares of common
                                         stock for cash, securities or other property (except as described herein under &ldquo;Principal
                                         Stockholders &mdash; Transfers of Founder Shares. Private Placement Warrants and Underlying
                                         Securities&rdquo;). We refer to such transfer restrictions throughout this prospectus
                                         as the &ldquo;lock-up&rdquo;.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Notwithstanding
        the foregoing, if the last sale price of our 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, the founder shares will be released from the lock-up.</FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Private
                                         placement warrants&#9;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
                                         sponsors, I-Banker and the anchor investor have committed to purchase an aggregate of
                                         3,500,000 warrants (or 3,800,000 warrants if the underwriters&rsquo; over-allotment option
                                         is exercised in full) at a price of $1.00 per warrant ($3,500,000 in the aggregate, or
                                         $3,800,000 if the underwriters&rsquo; over-allotment option is exercised in full) in
                                         a private placement that will close simultaneously with the closing of this offering.
                                         Of such amount, 1,300,000 warrants will be purchased by our sponsors, 1,000,000 warrants
                                         will be purchased by I-Bankers and, in lieu of I-Bankers acquiring such warrants,
                                         such warrants will be issued to our sponsors (such that, immediately following the closing
                                         of this offering, our sponsors will own 2,300,000 private placement warrants and I-Bankers will own no
                                         private placement warrants), and 1,200,000 warrants will be purchased by the anchor
                                         investor (or 1,500,000 if the over-allotment is exercised in full).</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
        purchase price of the private placement warrants will be added to the proceeds from this offering to be held in the trust
        account. If we do not complete our initial business combination within 18 months from the closing of this offering (or
        up to 24 months from the closing of this offering if we extend the period of time to consummate a business combination,
        as described in more detail in this prospectus), the proceeds from the sale of the private placement warrants held in
        the trust will be used to fund the redemption of our public shares (subject to the requirements of applicable law) and
        the private placement warrants will expire worthless. The private placement warrants are identical to the warrants included
        in the units sold in this offering, except that the private placement warrants: (i) will not be redeemable by us and (ii)
        may be exercised for cash or on a cashless basis, as described in this prospectus, in each case so long as they are held
        by the initial purchasers or any of their permitted transferees. If the private placement warrants are held by holders
        other than the initial purchasers or any of their 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 this offering.</FONT></P></TD></TR>
</TABLE>

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<P STYLE="margin: 0"></P>
</DIV>
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<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 98%; margin-left: -4.75pt; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 40%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Cashless
                                         exercise of private placement warrants&#9;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 60%"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
    holders of private placement warrants elect to exercise them on a cashless basis, they would pay the exercise price by surrendering
    their warrants for that number of shares of common stock equal to the quotient obtained by dividing (x) the product of the
    number of shares of common stock underlying the warrants, multiplied by the difference between the exercise price of the warrants
    and the &ldquo;fair market value&rdquo; (defined below) by (y) the fair market value. The &ldquo;fair market value&rdquo;
    shall mean the average reported last sale price of the common stock for the 10 trading days ending on the third trading day
    prior to the date on which the notice of warrant exercise is sent to the warrant agent.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Proceeds
                                         to be held in trust account&#9;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
                                         rules of Nasdaq provide that at least 90% of the gross proceeds from this offering and
                                         the private placement be deposited in a trust account. Of the $103.5 million in gross
                                         proceeds we will receive from this offering and the sale of the private placement warrants
                                         described in this prospectus, or $118.8 million if the underwriters&rsquo; over-allotment
                                         option is exercised in full, $100 million ($10.00 per unit), or $115 million ($10.00
                                         per unit) if the underwriters&rsquo; over-allotment option is exercised in full, will
                                         be deposited into a segregated trust account located in the United States with Continental
                                         Stock Transfer &amp; Trust Company acting as trustee (subject to increase of up to an
                                         additional approximately $0.20 per share in the event that our sponsors elects to extend
                                         the period of time to consummate a business combination, as described in more detail
                                         in this prospectus), and $3,500,000 (or $3,800,000 if the underwriters&rsquo; over-allotment
                                         option is exercised in full), will be used to pay expenses in connection with the closing
                                         of this offering (including underwriter discounts and commissions) and for working capital
                                         following this offering.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pursuant
        to the business combination marketing agreement we will enter into with I-Bankers in connection with this offering, I-Bankers
        will provide marketing services in connection with our initial business combination and will receive compensation for
        such services equal to 2.75% of the gross proceeds of this offering.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Except
        with respect to interest earned on the funds held in the trust account that may be released to us to pay our taxes, if
        any, the proceeds from this offering will not be released from the trust account until the earliest of (i) the completion
        of our initial business combination, (ii) the redemption of any public shares properly tendered in connection with a stockholder
        vote to amend our amended and restated certificate of incorporation (A) to modify the substance or timing of our obligation
        to redeem 100% of our public shares if we do not complete our initial business combination within the required time period
        or (B) with respect to any other provision relating to stockholders&rsquo; rights or pre-business combination activity,
        and (iii) the redemption of all of our public shares if we are unable to complete our business combination within the
        required time period, subject to applicable law. The proceeds deposited in the trust account could become subject to the
        claims of our creditors, if any, which could have priority over the claims of our public stockholders.</FONT></P></TD></TR>
</TABLE>

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<P STYLE="margin: 0"></P>
</DIV>
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<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 98%; margin-left: -4.75pt; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 40%"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Ability
                                         to extend time to complete business combination</FONT></P>
        <P STYLE="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 60%"><P STYLE="text-indent: 0pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
                                         we anticipate that we may not be able to consummate our initial business combination
                                         within 18 months, we may, by resolution of our board of directors if requested by our
                                         sponsors, extend the period of time to consummate a business combination up to two times,
                                         each by an additional three months (for a total of up to 24 months to complete a business
                                         combination), subject to the sponsors depositing additional funds into the trust account
                                         as set out below. Pursuant to the terms of our amended and restated certificate of incorporation
                                         and the trust agreement to be entered into between us and Continental Stock Transfer
                                         &amp; Trust Company, LLC on the date of this prospectus, in order to extend the time
                                         available for us to consummate our initial business combination, our initial stockholders
                                         or their affiliates or designees, upon five days advance notice prior to the applicable
                                         deadline, must deposit into the trust account for each three-month extension, $1,000,000,
                                         or $1,150,000 if the underwriters&rsquo; over-allotment option is exercised in full ($0.10
                                         per share in either case) on or prior to the date of the applicable deadline, up to an
                                         aggregate of $2,000,000 (or $2,300,000 if the underwriters&rsquo; over-allotment option
                                         is exercised in full), or approximately $0.20 per share. Any such payments would be made
                                         in the form of a loan. The terms of the promissory note to be issued in connection with
                                         any such loans have not yet been negotiated. If we complete our initial business combination,
                                         we would repay such loaned amounts out of the proceeds of the trust account released
                                         to us. If we do not complete a business combination, we will not repay such loans. Furthermore,
                                         the letter agreement with our initial stockholders contains a provision pursuant to which
                                         our sponsors has agreed to waive its right to be repaid for such loans in the event that
                                         we do not complete a business combination. Our sponsors and their affiliates or designees
                                         are not obligated to fund the trust account to extend the time for us to complete our
                                         initial business combination.</FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Anticipated
                                         expenses and funding sources&#9;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Unless
    and until we complete our initial business combination, no proceeds held in the trust account will be available for our use,
    except the withdrawal of interest to pay taxes. Unless and until we complete our initial business combination, we may pay
    our expenses only from the net proceeds of this offering and the sale of the private placement warrants not held in the trust
    account, which will be approximately $500,000 in working capital after the payment of expenses relating to this offering.
    Additionally, in order to meet our working capital needs following the consummation of this offering if the funds available
    to us are insufficient, our initial stockholders may, but are not obligated to, loan us funds, from time to time or at any
    time, in whatever amount they deem reasonable in their sole discretion. Each loan would be evidenced by a promissory note.
    The notes would either be paid upon consummation of our initial business combination, without interest, or, at the holder&rsquo;s
    discretion, up to $1,500,000 of the notes may be converted into private placement warrants at a price of $1.00 per warrant.
    In the event that the initial business combination does not close, we may use a portion of the working capital held outside
    the trust account to repay such loaned amounts, but no other proceeds from our trust account would be used for such repayment.</FONT></TD></TR>
</TABLE>

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<P STYLE="margin: 0"></P>
</DIV>
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<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 98%; margin-left: -4.75pt; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 40%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Conditions
                                         to completing our initial business combination&#9;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 60%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">There
                                         is no limitation on our ability to raise funds privately or through loans in connection
                                         with our initial business combination (although our amended and restated certificate
                                         of incorporation will provide that we may not issue securities that can vote with common
                                         stockholders on matters related to our pre-business combination activity). The Nasdaq
                                         rules require that our initial business combination must be with one or more target businesses
                                         that together have an aggregate fair market value equal to at least 80% of the value
                                         of the assets held in the trust account (excluding taxes payable on the interest earned
                                         on the trust account) at the time of our signing a definitive agreement in connection
                                         with our initial business combination. We will be required to comply with such rule so
                                         long as we obtain and maintain a listing for our securities on Nasdaq. We do not intend
                                         to purchase multiple businesses in unrelated industries in conjunction with our initial
                                         business combination.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
        our board of directors is not able to independently determine the fair market value of the target business or businesses,
        we will obtain an opinion from an independent investment banking firm that is a member of FINRA, or from an independent
        accounting firm. Additionally, pursuant to Nasdaq rules, any initial business combination must be approved by a majority
        of our independent directors. We will complete our initial business combination only if the post-transaction company in
        which our public stockholders own shares will own or acquire 50% or more of the outstanding voting securities of the target
        or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment
        company under the Investment Company Act. Even if the post-transaction company owns or acquires 50% or more of the voting
        securities of the target, our stockholders prior to the business combination may collectively own a minority interest
        in the post-transaction company, depending on valuations ascribed to the target and us in the business combination transaction.
        If less than 100% of the equity interests or assets of a target business or businesses are owned or acquired by the post-transaction
        company, the portion of such business or businesses that is owned or acquired is what will be valued for purposes of the
        80% of net assets test, provided that in the event that the business combination involves more than one target business,
        the 80% of net assets test will be based on the aggregate value of all of the target businesses.</FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Permitted
                                         purchases of public shares by our affiliates&#9;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">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 initial stockholders, directors, executive officers, advisors or their
                                         affiliates may purchase shares in privately negotiated transactions or in the open market
                                         either prior to or following the completion of our initial business combination. However,
                                         other than as expressly stated herein, they have no current commitments, plans or intentions
                                         to engage in such transactions and have not formulated any terms or conditions for any
                                         such transactions. None of the funds in the trust account will be used to purchase shares
                                         in such transactions. If they engage in such transactions, they will not make any such
                                         purchases when they are in possession of any material non-public information not disclosed
                                         to the seller or if such purchases are prohibited by Regulation M under the Exchange
                                         Act.</FONT></P></TD></TR>
</TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 98%; margin-left: -4.75pt; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
    do not currently anticipate that such purchases, if any, would constitute a tender offer subject to the tender offer rules
    under the Exchange Act or a going-private transaction subject to the going-private rules under the Exchange Act; however,
    if the purchasers determine at the time of any such purchases that the purchases are subject to such rules, the purchasers
    will comply with such rules. Our initial stockholders, directors, executive officers, advisors or their affiliates will not
    make any purchases if the purchases would violate Section 9(a)(2) or Rule 10b-5 of the Exchange Act.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 40%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Redemption
                                         rights for public stockholders upon completion of our initial business combination&#9;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 60%"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
    will provide our public stockholders with the opportunity to redeem all or a portion of their public shares upon the completion
    of our initial business combination at a per-share price, payable in cash, equal to the aggregate amount then on deposit in
    the trust account as of two business days prior to the consummation of our initial business combination, including interest
    (which interest shall be net of taxes payable) divided by the number of then outstanding public shares, subject to the limitations
    described herein. The amount in the trust account is initially anticipated to be $10.00 per public share, subject to increase
    of up to an additional approximately $0.20 per ordinary share in the event that our sponsors elect to extend the period of
    time to consummate a business combination, as described in more detail in this prospectus. The per share amount we will distribute
    to investors who properly redeem their shares will not be reduced by the fee payable to I-Bankers pursuant to the business
    combination marketing agreement. See the section entitled &ldquo;Underwriting &mdash; Business Combination Marketing Agreement.&rdquo;
    There will be no redemption rights upon the completion of our initial business combination with respect to our warrants. Our
    sponsors, officers and directors have entered into a letter agreement with us, pursuant to which they have agreed to waive
    their redemption rights with respect to their founder shares and any public shares they may acquire after this offering in
    connection with the completion of our business combination, 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
    the prescribed time frame.</FONT></TD></TR>
</TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 98%; margin-left: -4.75pt; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 40%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Manner
                                         of conducting redemptions</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 60%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
                                         will provide our public stockholders with the opportunity to redeem all or a portion
                                         of their public shares upon the completion of our initial business combination either
                                         (i) in connection with a stockholder meeting called to approve the business combination
                                         or (ii) by means of a tender offer. The decision as to whether we will seek stockholder
                                         approval of a proposed business combination or conduct a tender offer will be made by
                                         us, solely in our discretion, and will be based on a variety of factors such as the timing
                                         of the transaction and whether the terms of the transaction would require us to seek
                                         stockholder approval under the law or stock exchange listing requirement. Under Nasdaq
                                         rules, asset acquisitions and stock purchases would not typically require stockholder
                                         approval while direct mergers with our company where we do not survive and any transactions
                                         where we issue more than 20% of our outstanding common stock or seek to amend our amended
                                         and restated certificate of incorporation would require stockholder approval. We may
                                         conduct redemptions without a stockholder vote pursuant to the tender offer rules of
                                         the SEC unless stockholder approval is required by law or stock exchange listing requirement
                                         or we choose to seek stockholder approval for business or other legal reasons. So long
                                         as we obtain and maintain a listing for our securities on Nasdaq, we would be required
                                         to comply with such rules.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
        a stockholder vote is not required and we do not decide to hold a stockholder vote for business or other legal reasons,
        we will, pursuant to our amended and restated certificate of incorporation:</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 18pt; text-indent: -18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;&nbsp;&nbsp;&nbsp;&nbsp;&#9;conduct
        the redemptions pursuant to Rule 13e-4 and Regulation 14E of the Exchange Act, which regulate issuer tender offers, and</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 18pt; text-indent: -18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;&#9;&nbsp;&nbsp;&nbsp;&nbsp;file
        tender offer documents with the SEC prior to completing our initial business combination which contain substantially the
        same financial and other information about the initial business combination and the redemption rights as is required under
        Regulation 14A of the Exchange Act, which regulates the solicitation of proxies.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Upon
        the public announcement of our business combination, if we elect to conduct redemptions pursuant to the tender offer rules,
        we or our initial stockholders will terminate any plan established in accordance with Rule 10b5-1 to purchase shares of
        our common stock in the open market, in order to comply with Rule 14e-5 under the Exchange Act.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
        the event we conduct redemptions pursuant to the tender offer rules, our offer to redeem will remain open for at least
        20 business days, in accordance with Rule 14e-1(a) under the Exchange Act, and we will not be permitted to complete our
        initial business combination until the expiration of the tender offer period. In addition, the tender offer will be conditioned
        on public stockholders not tendering more than a specified number of public shares, which number will be based on the
        requirement that we may not redeem public shares in an amount that would cause our net tangible assets to be less than
        $5,000,001 both immediately before and after the consummation of our initial business combination (so that we are not
        subject to the SEC&rsquo;s &ldquo;penny stock&rdquo; rules) or any greater net tangible asset or cash requirement which
        may be contained in the agreement relating to our initial business combination. If public stockholders tender more shares
        than we have offered to purchase, we will withdraw the tender offer and not complete the initial business combination.</FONT></P></TD></TR>
</TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 98%; margin-left: -4.75pt; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 40%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 60%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">If,
                                         however, stockholder approval of the transaction is required by law or stock exchange
                                         listing requirement, or we decide to obtain stockholder approval for business or other
                                         legal reasons, we will: &nbsp;</FONT></P>
                                                                                                                                                <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                                                                                                                <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 18pt; text-indent: -18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;&#9;&nbsp;&nbsp;&nbsp;&nbsp;conduct
                                         the redemptions in conjunction with a proxy solicitation pursuant to Regulation 14A of
                                         the Exchange Act, which regulates the solicitation of proxies, and not pursuant to the
                                         tender offer rules, and &nbsp;</FONT></P>
                                                                                                                                                <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                                                                                                                <P STYLE="margin: 0pt 0pt 0pt 18pt; font: 10pt Times New Roman, Times, Serif; text-indent: -18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;&#9;&nbsp;&nbsp;&nbsp;&nbsp;file
                                         proxy materials with the SEC. &nbsp;</FONT></P>
                                                                                                                                                <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                                                                                                                <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">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
                                         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. Our sponsors, officers and directors will count towards
                                         this quorum and have agreed to vote their founder shares and any public shares purchased
                                         during or after this offering in favor of our initial business combination. These quorum
                                         and voting thresholds, and the voting agreements of our sponsors, officers and directors
                                         may make it more likely that we will consummate our initial business combination. Each
                                         public stockholder may elect to redeem its public shares irrespective of whether they
                                         vote for or against the proposed transaction. &nbsp;</FONT></P>
                                                                                                                                                <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                                                                                                                <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
                                         amended and restated certificate of incorporation will provide that in no event will
                                         we redeem our public shares in an amount that would cause our net tangible assets to
                                         be less than $5,000,001 both immediately before and after the consummation of our initial
                                         business combination (so that we are not subject to the SEC&rsquo;s &ldquo;penny stock&rdquo;
                                         rules). Redemptions of our public shares may also be subject to a higher net tangible
                                         asset test or cash requirement pursuant to an agreement relating to our initial business
                                         combination. For example, the proposed business combination may require: (i) cash consideration
                                         to be paid to the target or its owners, (ii) cash to be transferred to the target for
                                         working capital or other general corporate purposes or (iii) the retention of cash to
                                         satisfy other conditions in accordance with the terms of the proposed business combination.
                                         In the event the aggregate cash consideration we would be required to pay for all shares
                                         of common stock that are validly submitted for redemption plus any amount required to
                                         satisfy cash conditions pursuant to the terms of the proposed business combination exceed
                                         the aggregate amount of cash available to us, we will not complete the business combination
                                         or redeem any shares, and all shares of common stock submitted for redemption will be
                                         returned to the holders thereof.</FONT></P>



</TD></TR>
</TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 98%; margin-left: -4.75pt; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 40%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Limitation
                                         on redemption rights of stockholders holding 15% or more of the shares sold in this offering
                                         if we hold stockholder vote&#9;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 60%"><FONT STYLE="font-family: Times New Roman, Times, Serif">Notwithstanding
    the foregoing redemption rights, if we seek stockholder approval of our initial business combination and we do not conduct
    redemptions in connection with our business combination pursuant to the tender offer rules, our amended and restated certificate
    of incorporation will provide 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 &ldquo;group&rdquo; (as defined under Section 13 of the Exchange Act),
    will be restricted from redeeming its shares with respect to an aggregate of 15% or more of the shares sold in this offering.
    We believe the restriction described above will discourage stockholders from accumulating large blocks of shares, and subsequent
    attempts by such holders to use their ability to redeem their shares as a means to force us, our sponsors or our management
    to purchase their shares at a significant premium to the then-current market price or on other undesirable terms. Absent this
    provision, a public stockholder holding an aggregate of 15% or more of the shares sold in this offering could threaten to
    exercise its redemption rights against a business combination if such holder&rsquo;s shares are not purchased by us, our sponsors
    or our management at a premium to the then-current market price or on other undesirable terms. By limiting our stockholders&rsquo;
    ability to redeem to less than 15% of the shares sold in this offering, we believe we will limit the ability of a small group
    of stockholders to unreasonably attempt to block our ability to complete our business combination, particularly in connection
    with a business combination with a target that requires as a closing condition that we have a minimum net worth or a certain
    amount of cash. However, we would not be restricting our stockholders&rsquo; ability to vote all of their shares (including
    all shares held by those stockholders that hold 15% or more of the shares sold in this offering) for or against our business
    combination.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Redemption
                                         rights in connection with proposed amendments to our certificate of incorporation&#9;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Some
    other blank check companies have a provision in their charter which prohibits the amendment of certain charter provisions.
    Our amended and restated certificate of incorporation will provide that any of its provisions related to pre-business combination
    activity (including the requirement to deposit proceeds of this offering and the private placement of warrants into the trust
    account and not release such amounts except in specified circumstances, and to provide redemption rights to public stockholders
    as described herein) may be amended if approved by holders of 65% of our common stock, and corresponding provisions of the
    trust agreement governing the release of funds from our trust account may be amended if approved by holders of 65% of our
    common stock. In all other instances, our amended and restated certificate of incorporation will provide that it may be amended
    by holders of a majority of our common stock, subject to applicable provisions of the Delaware General Corporation Law, or
    DGCL, or applicable stock exchange rules. Our initial stockholders, who will collectively beneficially own 20.0% of our common
    stock upon the closing of this offering (excluding the Representative&rsquo;s shares and assuming they do not purchase any
    units in this offering), will participate in any vote to amend our amended and restated certificate of incorporation and/or
    trust agreement and will have the discretion to vote in any manner they choose. Our sponsors, executive officers and directors
    have agreed, pursuant to a written agreement with us, that they will not propose any amendment to our amended and restated
    certificate of incorporation (i) to modify the substance or timing of our obligation to redeem 100% of our public shares if
    we do not complete our initial business combination within 18 months (or up to 24 months from the closing of this offering
    if we extend the period of time to consummate a business combination, as described in more detail in this prospectus) from
    the closing of this offering or (ii) with respect to any other provision relating to stockholders&rsquo; rights or pre-business
    combination activity, unless we provide our public stockholders with the opportunity to redeem their shares of common stock
    upon approval of any such amendment at a per-share price, payable in cash, equal to the aggregate amount then on deposit in
    the trust account, including interest (which interest shall be net of taxes payable) divided by the number of then outstanding
    public shares. Our sponsors, officers and directors have entered into a letter agreement with us, pursuant to which they have
    agreed to waive their redemption rights with respect to their founder shares and public shares in connection with the completion
    of our initial business combination, 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 the prescribed time
    frame.</FONT></TD></TR>
</TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 98%; margin-left: -4.75pt; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 40%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Release
                                         of funds in trust account on closing of our initial business combination&#9;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 60%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
                                         the completion of our initial business combination, all amounts held in the trust account
                                         will be released to us, other than the funds that the trustee will use to pay amounts
                                         due to any public stockholders who exercise their redemption rights as described above
                                         under &ldquo;Redemption rights for public stockholders upon completion of our initial
                                         business combination.&rdquo; We will use the remaining funds to pay I-Bankers the fee
                                         payable under the business combination marketing agreement described under the heading
                                         &ldquo;Underwriting &mdash; Business Combination Marketing Agreement,&rdquo; and to pay
                                         all or a portion of the consideration payable to the target or owners of the target of
                                         our initial business combination and to pay other expenses associated with our initial
                                         business combination.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
        our initial business combination is paid for using equity or debt securities, or not all of the funds released from the
        trust account are used for payment of the consideration in connection with our initial business combination, we may apply
        the balance of the cash released to us from the trust account for general corporate purposes, including for maintenance
        or expansion of operations of post-transaction businesses, the payment of principal or interest due on indebtedness incurred
        in completing our initial business combination, to fund the purchase of other companies or for working capital.</FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Redemption
                                         of public shares and distribution and liquidation if no initial business combination&#9;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
                                         will have only 18 months (or up to 24 months from the closing of this offering if we
                                         extend the period of time to consummate a business combination, as described in more
                                         detail in this prospectus) from the closing of this offering to complete our initial
                                         business combination. If we are unable to complete our initial business combination within
                                         such period, we will: (i) cease all operations except for the purpose of winding up,
                                         (ii) as promptly as reasonably possible but not more than ten business days thereafter,
                                         redeem the public shares, at a per-share price, payable in cash, equal to the aggregate
                                         amount then on deposit in the trust account, including interest (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&rsquo; rights as stockholders (including the right to
                                         receive further liquidation distributions, if any), subject to applicable law, and (iii)
                                         as promptly as reasonably possible following such redemption, subject to the approval
                                         of 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. There will be no redemption rights or liquidating
                                         distributions with respect to our warrants, which will expire worthless if we fail to
                                         complete our business combination within the 18-month time period (or up to 24 months
                                         from the closing of this offering if we extend the period of time to consummate a business
                                         combination, as described in more detail in this prospectus).</FONT></P></TD></TR>
</TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 98%; margin-left: -4.75pt; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 40%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 60%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>
                                                                                          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
                                         initial stockholders have waived their rights to liquidating distributions from the trust
                                         account with respect to their founder shares if we fail to complete our initial business
                                         combination within 18 months (or up to 24 months from the closing of this offering if
                                         we extend the period of time to consummate a business combination, as described in more
                                         detail in this prospectus) from the closing of this offering. However, if our initial
                                         stockholders acquire public shares after this offering, they will be entitled to liquidating
                                         distributions from the trust account with respect to such public shares if we fail to
                                         complete our initial business combination within the allotted 18-month (or up to 24 months
                                         from the closing of this offering if we extend the period of time to consummate a business
                                         combination, as described in more detail in this prospectus) time frame.</FONT></P>
                                                                                          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
                                                                                          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
                                         underwriters will not receive any of their marketing fee pursuant to the business combination
                                         marketing agreement that is held in the trust account in the event we do not complete
                                         our initial business combination. &nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
sponsors, executive officers and directors have agreed, pursuant to a written agreement with us, that they will not propose any
amendment to our amended and restated certificate of incorporation (i) to modify the substance or timing of our obligation to
redeem 100% of our public shares if we do not complete our initial business combination within 18 months (or up to 24 months from
the closing of this offering if we extend the period of time to consummate a business combination, as described in more detail
in this prospectus) from the closing of this offering or (ii) with respect to any other provision relating to stockholders&rsquo;
rights or pre-business combination activity, unless we provide our public stockholders with the opportunity to redeem their shares
of common stock upon approval of any such amendment at a per-share price, payable in cash, equal to the aggregate amount then
on deposit in the trust account, including interest (which interest shall be net of taxes payable) divided by the number of then
outstanding public shares. However, we may not redeem our public shares in an amount that would cause our net tangible assets
to be less than $5,000,001 both immediately before and after the consummation of our initial business combination (so that we
are not subject to the SEC&rsquo;s &ldquo;penny stock&rdquo; rules).</FONT></P>





</TD></TR>
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<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 98%; margin-left: -4.75pt; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 40%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Limited
                                         payments to insiders&#9;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 60%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">There
                                         will be no finder&rsquo;s fees, reimbursements, non-cash payments or cash payments made
                                         to our sponsors, officers and directors, or their affiliates, for services rendered to
                                         us prior to or in connection with the completion of our initial business combination,
                                         other than the following payments, none of which will be made from the proceeds of this
                                         offering held in the trust account prior to the completion of our initial business combination:</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 18pt; text-indent: -18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;&#9;&nbsp;&nbsp;&nbsp;&nbsp;Repayment
        of related party loans outstanding in the amount of $27,963 as of February 9, 2021 and an additional amount of $35 for
        an expense paid by a sponsor on our behalf;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 18pt; text-indent: -18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;&#9;&nbsp;&nbsp;&nbsp;&nbsp;Repayment
        of an aggregate of up to $300,000 as a promissory note made, or to be made, to us by our sponsors to be used for
        a portion of the expenses of this offering;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 18pt; text-indent: -18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;&#9;&nbsp;&nbsp;&nbsp;&nbsp;Payment
        to an affiliate of one of our officers of $5,000 per month for office space, utilities, secretarial support and other
        administrative and consulting services;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 18pt; text-indent: -18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;&#9;&nbsp;&nbsp;&nbsp;&nbsp;Reimbursement
        for any out-of-pocket expenses related to identifying, investigating and completing an initial business combination; and</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 18pt; text-indent: -18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;&#9;&nbsp;&nbsp;&nbsp;&nbsp;Repayment
        of loans which may be made by our initial stockholders or their affiliates to finance transaction costs in connection
        with an intended initial business combination, the terms of which have not been determined nor have any written agreements
        been executed with respect thereto. Up to $1,500,000 of such loans may be convertible into private placement warrants
        at a price of $1.00 per warrant.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 18pt; text-indent: -18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 18pt; text-indent: -18pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Upon
        the closing of this offering, we will engage I-Bankers as an advisor in connection with our business combination to assist
        us in holding meetings with our stockholders to discuss the potential business combination and the target business&rsquo;
        attributes, introduce us to potential investors that are interested in purchasing our securities in connection with the
        potential business combination, assist us in obtaining stockholder approval for the business combination and assist us
        with our press releases and public filings in connection with the business combination. We will pay I-Bankers a cash fee
        for such services immediately before or after the consummation of our initial business combination in an amount equal
        to, in the aggregate, 3.5% of the gross proceeds of this offering, including any proceeds from the full or partial exercise
        of the over-allotment option.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
        audit committee will review on a quarterly basis all payments that were made to our sponsors, officers or directors, or
        our or their affiliates.</FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Audit
                                         Committee</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Prior
    to the effectiveness of this registration statement, we will have established and will maintain an audit committee to, among
    other things, monitor compliance with the terms described above and the other terms relating to this offering. If any noncompliance
    is identified, then the audit committee will be charged with the responsibility to immediately take all action necessary to
    rectify such noncompliance or otherwise to cause compliance with the terms of this offering. For more information, see the
    section entitled &ldquo;Management &mdash; Committees of the Board of Directors &mdash; Audit Committee.&rdquo;</FONT></TD></TR>
</TABLE>

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<P STYLE="margin: 0"></P>
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<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 98%; margin-left: -4.75pt; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 40%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Conflicts
                                         of Interest</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 60%"><FONT STYLE="font-family: Times New Roman, Times, Serif">Each
    of our officers and directors presently has, and any of them in the future may have additional, fiduciary or contractual obligations
    to another entity pursuant to which such officer or director is or will be required to present a business combination opportunity
    to such entity. Accordingly, if any of our officers or directors becomes aware of a business combination opportunity which
    is suitable for an entity to which he or she has then-current fiduciary or contractual obligations, he or she will honor these
    obligations to present such business combination opportunity to such entity, and only present it to us if such entity rejects
    the opportunity. We do not believe, however, that the fiduciary duties or contractual obligations of our officers or directors
    will materially affect our ability to complete our business combination. Our amended and restated certificate of incorporation
    will provide that we renounce our interest in any corporate opportunity offered to any director or officer unless such opportunity
    is expressly offered to such person solely in his or her capacity as a director or officer of our company and such opportunity
    is one we are legally and contractually permitted to undertake and would otherwise be reasonable for us to pursue.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Indemnity</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P></TD>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
                                         sponsors have agreed that it will be liable to us if and to the extent any claims by
                                         a vendor for services rendered or products sold to us, or a prospective target business
                                         with which we have discussed entering into a transaction agreement, reduce the amount
                                         of funds in the trust account to below (i) $10.00 per public share or (ii) such lesser
                                         amount per public share held in the trust account as of the date of the liquidation of
                                         the trust account due to reductions in the value of the trust assets, in each case net
                                         of the interest which may be released to us to pay taxes, except as to any claims by
                                         a third party who executed a waiver of any and all rights to seek access to the trust
                                         account and except as to any claims under indemnity of the underwriters of this offering
                                         against certain liabilities, including liabilities under the Securities Act. Moreover,
                                         in the event that an executed waiver is deemed to be unenforceable against a third party,
                                         our sponsors will not be responsible to the extent of any liability for such third party
                                         claims.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
        have not asked our sponsors to reserve for such indemnification obligations, and our sponsors&rsquo; only assets are securities
        of our company. Therefore, we cannot assure you that our sponsors would be able to satisfy those obligations. We believe
        the likelihood of our sponsors having to indemnify the trust account is limited because we will endeavor to have all vendors
        and prospective target businesses as well as other entities execute agreements with us waiving any right, title, interest
        or claim of any kind in or to monies held in the trust account.</FONT></P></TD></TR>
</TABLE>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Risks</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
are a newly formed company that has conducted no operations and has generated no revenues. Until we complete our initial business
combination, we will have no operations and will generate no operating revenues. In making your decision whether to invest in
our securities, you should take into account not only the background of our management team, but also the special risks we face
as a blank check company. This offering is not being conducted in compliance with Rule 419 promulgated under the Securities Act.
Accordingly, you will not be entitled to protections normally afforded to investors in Rule 419 blank check offerings. For additional
information concerning how Rule 419 blank check offerings differ from this offering, please see &ldquo;Proposed Business &mdash;
Comparison of This Offering to Those of Blank Check Companies Subject to Rule 419.&rdquo; You should carefully consider these
and the other risks set forth in the section entitled &ldquo;Risk Factors.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Summary
of Risk Factors</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">An
investment in our securities involves a high degree of risk. The occurrence of one or more of the events or circumstances described
in the section titled &ldquo;Risk Factors,&rdquo; alone or in combination with other events or circumstances, may materially adversely
affect our business, financial condition and operating results. In that event, the trading price of our securities could decline,
and you could lose all or part of your investment. Such risks include, but are not limited to:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
                                         independent registered public accounting firm&rsquo;s report contains an explanatory
                                         paragraph that expresses substantial doubt about our ability to continue as a &ldquo;going
                                         concern.&rdquo;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
                                         public stockholders may not be afforded an opportunity to vote on our proposed initial
                                         business combination, and even if we hold a vote, holders of our founder shares will
                                         participate in such vote, which means we may complete our initial business combination
                                         even though a majority of our public stockholders do not support such a combination.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
                                         we seek stockholder approval of our initial business combination, our sponsors, officers
                                         and directors have agreed to vote in favor of such initial business combination, regardless
                                         of how our public stockholders vote.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Your
                                         only opportunity to affect the investment decision regarding a potential business combination
                                         may be limited to the exercise of your right to redeem your shares from us for cash,
                                         unless we seek stockholder approval of the business combination.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
                                         ability of our public stockholders to redeem their shares for cash may make our financial
                                         condition unattractive to potential business combination targets, which may make it difficult
                                         for us to enter into a business combination with a target.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
                                         ability of our public stockholders to exercise redemption rights with respect to a large
                                         number of our shares may not allow us to complete the most desirable business combination
                                         or optimize our capital structure.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
                                         ability of our public stockholders to exercise redemption rights with respect to a large
                                         number of our shares could increase the probability that our initial business combination
                                         would be unsuccessful and that you would have to wait for liquidation in order to redeem
                                         your stock.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
                                         requirement that we complete our initial business combination within the prescribed time
                                         frame may give potential target businesses leverage over us in negotiating a business
                                         combination and may decrease our ability to conduct due diligence on potential business
                                         combination targets as we approach our dissolution deadline, which could undermine our
                                         ability to complete our business combination on terms that would produce value for our
                                         stockholders.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
                                         may not be able to complete our initial business combination within the prescribed time
                                         frame, in which case we would cease all operations except for the purpose of winding
                                         up and we would redeem our public shares and liquidate.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"></P>
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<DIV STYLE="padding: 5pt; border: Black 1.5pt solid; width: 99%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
                                         a stockholder fails to receive notice of our offer to redeem our public shares in connection
                                         with our business combination, or fails to comply with the procedures for tendering its
                                         shares, such shares may not be redeemed.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
                                         we seek stockholder approval of our initial business combination and we do not conduct
                                         redemptions pursuant to the tender offer rules, and if you or a &ldquo;group&rdquo; of
                                         stockholders are deemed to hold 15% or more of our common stock, you will lose the ability
                                         to redeem all such shares equal to or in excess of 15% of our common stock.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
                                         are not required to obtain an opinion from an independent investment banking firm or
                                         from an independent accounting firm, and consequently, you may have no assurance from
                                         an independent source that the price we are paying for the business is fair to our company
                                         from a financial point of view.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
                                         may engage in a business combination with one or more target businesses that have relationships
                                         with entities that may be affiliated with our sponsors, executive officers and directors
                                         which may raise potential conflicts of interest.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
                                         will likely only be able to complete one business combination with the proceeds of this
                                         offering and the sale of the private placement warrants, which will cause us to be solely
                                         dependent on a single business which may have a limited number of products or services.
                                         This lack of diversification may negatively impact our operations and profitability.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
                                         executive officers and directors will allocate their time to other businesses thereby
                                         causing conflicts of interest in their determination as to how much time to devote to
                                         our affairs. This conflict of interest could have a negative impact on our ability to
                                         complete our initial business combination.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Certain
                                         of our executive officers and directors are now, and all of them may in the future become,
                                         affiliated with entities engaged in business activities similar to those intended to
                                         be conducted by us following our initial business combination and, accordingly, may have
                                         conflicts of interest in determining to which entity a particular business opportunity
                                         should be presented.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Since
                                         our initial stockholders, including our sponsors, executive officers and directors, will
                                         lose their entire investment in us if our initial business combination is not completed,
                                         a conflict of interest may arise in determining whether a particular business combination
                                         target is appropriate for our initial business combination.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Because
                                         each unit contains one-half of one redeemable warrant and only a whole warrant may be
                                         exercised, the units may be worth less than units of other blank check companies.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
                                         are not registering the shares of common stock issuable upon exercise of the warrants
                                         under the Securities Act or any state securities laws at this time, and such registration
                                         may not be in place when an investor desires to exercise warrants, thus precluding such
                                         investor from being able to exercise its warrants except on a cashless basis and potentially
                                         causing such warrants to expire worthless.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
                                         initial stockholders paid an aggregate of $28,750, or approximately $0.01 per founder
                                         share, and, accordingly, you will experience immediate and substantial dilution from
                                         the purchase of our common stock.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Provisions
                                         in our amended and restated certificate of incorporation and Delaware law may have the
                                         effect of discouraging lawsuits against our directors and officers.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

</DIV>
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<DIV STYLE="padding: 5pt; border: Black 1.5pt solid; width: 99%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;<B><A NAME="a_002"></A>SUMMARY
FINANCIAL DATA</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
following table summarizes the relevant financial data for our business and should be read with our financial statements, which
are included in this prospectus. We have not had any significant operations to date, so only balance sheet data is presented.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">February
    9, 2021, 2021</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">Balance
    Sheet Data:</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Actual</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
    Adjusted</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Working
    capital (deficiency)<SUP>(1)</SUP></FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; text-align: right">(15,576</TD><TD STYLE="width: 1%; text-align: left">)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; text-align: right">100,531,167</TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total assets<SUP>(1)</SUP></FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">75,908</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">100,531,167&#9;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
    liabilities</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">47,241</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0&#9;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Value
    of common stock that may be redeemed in connection with our initial business combination ($10.00 per share)<SUP>(2)</SUP></FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right">95,531,160<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
    stockholders&rsquo; equity<SUP>(3)</SUP></FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">28,667</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right">5,000,007<FONT STYLE="font-family: Times New Roman, Times, Serif">&#9;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1)</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
                                         &ldquo;as adjusted&rdquo; calculation assumes no exercise of the over-allotment option
                                         and includes $100,000,000 cash held in trust from the proceeds of this offering and the
                                         sale of the private placement warrants, plus $500,000 in cash held outside the trust
                                         account.</FONT></TD></TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(2)</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
                                         &ldquo;as adjusted&rdquo; calculation assumes no exercise of the over-allotment option
                                         and equals the &ldquo;as adjusted&rdquo; total assets, less the &ldquo;as adjusted&rdquo;
                                         total liabilities, less the &ldquo;as adjusted&rdquo; stockholders&rsquo; equity, which
                                         is set to approximate the minimum net tangible assets threshold of at least $5,000,001.</FONT></TD></TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(3)</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Assumes
                                         no exercise of the over-allotment option. The &ldquo;as adjusted&rdquo; calculation equals
                                         the &ldquo;as adjusted&rdquo; total assets, less the &ldquo;as adjusted&rdquo; total
                                         liabilities, less the value of shares of common stock that may be redeemed in connection
                                         with our initial business combination (approximately $10.00 per share).</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
&ldquo;as adjusted&rdquo; information gives effect to the sale of the units in this offering, the sale of the private placement
warrants and the payment of the estimated expenses of this offering. The &ldquo;as adjusted&rdquo; total assets amount includes
the $100,000,000 held in the trust account if the underwriters&rsquo; over-allotment option is not exercised) for the benefit
of our public stockholders, which amount will be available to us only upon the completion of our initial business combination
within the time period described in this prospectus.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
no business combination is completed within 18 months (or up to 24 months from the closing of this offering if we extend the period
of time to consummate a business combination, as described in more detail in this prospectus) from the closing of this offering,
the proceeds 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) will be used to fund the redemption of our public shares. Our initial stockholders
have agreed to waive their rights to liquidating distributions from the trust account with respect to their founder shares if
we fail to complete our initial business combination within such 18-month (or up to 24-month) time period.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>




<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="a_003"></A>RISK
FACTORS</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">An
investment in our securities involves a high degree of risk. You should consider carefully all of the risks described below, together
with the other information contained in this prospectus, before making a decision to invest in our units. If any of the following
events occur, our business, financial condition and operating results may be materially adversely affected. In that event, the
trading price of our securities could decline, and you could lose all or part of your investment.</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Risks
Relating to Our Search For, Consummation of, or Inability to Consummate, a Business Combination</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
independent registered public accounting firm&rsquo;s report contains an explanatory paragraph that expresses substantial doubt
about our ability to continue as a &ldquo;going concern.&rdquo;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of February 9, 2021, we had $19,665 of cash and a working capital deficiency of $(15,576). Further, we have incurred and
expect to continue to incur significant costs in pursuit of our acquisition plans. Management&rsquo;s plans to address this need
for capital through this offering are discussed in the section of this prospectus titled &ldquo;Management&rsquo;s Discussion
and Analysis of Financial Condition and Results of Operations.&rdquo; Our plans to raise capital and to consummate our initial
business combination may not be successful. These factors, among others, raise substantial doubt about our ability to continue
as a going concern. The financial statements contained elsewhere in this prospectus do not include any adjustments that might
result from our inability to consummate this offering or our inability to continue as a going concern.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
public stockholders may not be afforded an opportunity to vote on our proposed initial business combination, and even if we hold
a vote, holders of our founder shares will participate in such vote, which means we may complete our initial business combination
even though a majority of our public stockholders do not support such a combination.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
may not hold a stockholder vote to approve our initial business combination unless the business combination would require stockholder
approval under applicable state law or the rules of Nasdaq or if we decide to hold a stockholder vote for business or other reasons.
For instance, the Nasdaq rules currently allow us to engage in a tender offer in lieu of a stockholder meeting but would still
require us to obtain stockholder approval if we were seeking to issue more than 20% of our outstanding shares to a target business
as consideration in any business combination. Therefore, if we were structuring a business combination that required us to issue
more than 20% of our outstanding shares, we would seek stockholder approval of such business combination. However, except for
as required by law, the decision as to whether we will seek stockholder approval of a proposed business combination or will allow
stockholders to sell their shares to us in a tender offer will be made by us, solely in our discretion, and will be based on a
variety of factors, such as the timing of the transaction and whether the terms of the transaction would otherwise require us
to seek stockholder approval. Even if we seek stockholder approval, the holders of our founder shares will participate in the
vote on such approval. Accordingly, we may consummate our initial business combination even if holders of a majority of the outstanding
public shares of our common stock do not approve of the business combination we consummate. Please see the section entitled &ldquo;Proposed
Business &mdash; Stockholders May Not Have the Ability to Approve Our Initial Business Combination&rdquo; for additional information.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
we seek stockholder approval of our initial business combination, our sponsors, officers and directors have agreed to vote in
favor of such initial business combination, regardless of how our public stockholders vote.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Unlike
many other blank check companies in which the initial stockholders agree to vote their founder shares in accordance with the majority
of the votes cast by the public stockholders in connection with an initial business combination, our sponsors, officers and directors
have agreed to vote their founder shares, as well as any public shares purchased during or after this offering, in favor of our
initial business combination. Our sponsors, officers and directors will own ____% of our outstanding shares of common stock immediately
following the completion of this offering. As a result, in addition to the founder shares, we would need 3,875,001, or
38.75%, of the 10,000,000&nbsp;public shares sold in this offering to be voted in favor of a transaction (assuming all
outstanding shares are voted) in order to have our initial business combination approved (assuming the underwriters&rsquo; over-allotment
option is not exercised). Furthermore, assuming only the minimum number of stockholders required to be present at the stockholders&rsquo;
meeting held to approve our initial business combination are present at such meeting, we would need only 687,502 of the
10,000,000 public shares, or approximately 5.39% of the shares sold as part of the units in this offering, to be voted
in favor of our initial business combination in order to have such transaction approved (assuming the underwriters&rsquo; over-allotment
option is not exercised). In addition, in the event that our board of directors amends our bylaws to reduce the number of shares
required to be present at a meeting of our stockholders, we would need even fewer public shares to be voted in favor of our initial
business combination to have such transaction approved.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Accordingly,
if we seek stockholder approval of our initial business combination, it is more likely that the necessary stockholder approval
will be received than would be the case if our initial stockholders agreed to vote their shares in accordance with the majority
of the votes cast by our public stockholders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Your
only opportunity to affect the investment decision regarding a potential business combination may be limited to the exercise of
your right to redeem your shares from us for cash, unless we seek stockholder approval of the business combination.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">At
the time of your investment in us, you may not be provided with an opportunity to evaluate the specific merits or risks of one
or more target businesses. Since our board of directors may complete a business combination without seeking stockholder approval,
public stockholders may not have the right or opportunity to vote on the business combination, unless we seek such stockholder
vote. Accordingly, if we do not seek stockholder approval, your only opportunity to affect the investment decision regarding a
potential business combination may be limited to exercising your redemption rights within the period of time (which will be at
least 20 business days) set forth in our tender offer documents mailed to our public stockholders in which we describe our initial
business combination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
ability of our public stockholders to redeem their shares for cash may make our financial condition unattractive to potential
business combination targets, which may make it difficult for us to enter into a business combination with a target.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
may seek to enter into a business combination transaction agreement with a prospective target that requires as a closing condition
that we have a minimum net worth or a certain amount of cash. If too many public stockholders exercise their redemption rights,
we would not be able to meet such closing condition and, as a result, would not be able to proceed with the business combination.
Furthermore, in no event will we redeem our public shares in an amount that would cause our net tangible assets to be less than
$5,000,001 both immediately before and after the consummation of our initial business combination (so that we are not subject
to the SEC&rsquo;s &ldquo;penny stock&rdquo; rules) or any greater net tangible asset or cash requirement which may be contained
in the agreement relating to our initial business combination. Consequently, if accepting all properly submitted redemption requests
would cause our net tangible assets to be less than $5,000,001 both immediately before and after the consummation of our initial
business combination or such greater amount necessary to satisfy a closing condition as described above, we would not proceed
with such redemption and the related business combination and may instead search for an alternate business combination. Prospective
targets will be aware of these risks and, thus, may be reluctant to enter into a business combination transaction with us.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
ability of our public stockholders to exercise redemption rights with respect to a large number of our shares may not allow us
to complete the most desirable business combination or optimize our capital structure.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">At
the time we enter into an agreement for our initial business combination, we will not know how many stockholders may exercise
their redemption rights, and therefore will need to structure the transaction based on our expectations as to the number of shares
that will be submitted for redemption. If our business combination agreement requires us to use a portion of the cash in the trust
account to pay the purchase price, or requires us to have a minimum amount of cash at closing, we will need to reserve a portion
of the cash in the trust account to meet such requirements, or arrange for third party financing. In addition, if a larger number
of shares is submitted for redemption than we initially expected, we may need to restructure the transaction to reserve a greater
portion of the cash in the trust account or arrange for third party financing. Raising additional third party financing may involve
dilutive equity issuances or the incurrence of indebtedness at higher than desirable levels. The amount of the fee payable to&nbsp;I-Bankers&nbsp;pursuant
to the terms of the business combination marketing agreement will not be adjusted for any shares that are redeemed in connection
with an initial business combination. The above considerations may limit our ability to complete the most desirable business combination
available to us or optimize our capital structure, or may incentivize us to structure a transaction whereby we issue shares to
new investors and not to sellers of target businesses.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
ability of our public stockholders to exercise redemption rights with respect to a large number of our shares could increase the
probability that our initial business combination would be unsuccessful and that you would have to wait for liquidation in order
to redeem your stock.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
our initial business combination agreement requires us to use a portion of the cash in the trust account to pay the purchase price,
or requires us to have a minimum amount of cash at closing, the probability that our initial business combination would be unsuccessful
is increased. If our initial business combination is unsuccessful, you would not receive your pro rata portion of the trust account
until we liquidate the trust account. If you are in need of immediate liquidity, you could attempt to sell your stock in the open
market; however, at such time our stock may trade at a discount to the pro rata amount per share in the trust account. In either
situation, you may suffer a material loss on your investment or lose the benefit of funds expected in connection with our redemption
until we liquidate or you are able to sell your stock in the open market.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
requirement that we complete our initial business combination within the prescribed time frame may give potential target businesses
leverage over us in negotiating a business combination and may decrease our ability to conduct due diligence on potential business
combination targets as we approach our dissolution deadline, which could undermine our ability to complete our business combination
on terms that would produce value for our stockholders.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Any
potential target business with which we enter into negotiations concerning a business combination will be aware that we must complete
our initial business combination within 18 months from the closing of this offering. Consequently, such target business may obtain
leverage over us in negotiating a business combination, knowing that if we do not complete our initial business combination with
that particular target business, we may be unable to complete our initial business combination with any target business. This
risk will increase as we get closer to the timeframe described above. In addition, we may have limited time to conduct due diligence
and may enter into our initial business combination on terms that we would have rejected upon a more comprehensive investigation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Our
sponsors may decide not to extend the term we have to consummate our initial business combination, in which case we would cease
all operations except for the purpose of winding up and we would redeem our public shares and liquidate, and the warrants will
be worthless.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
will have until 18 months from the closing of this offering to consummate our initial business combination. However, if we anticipate
that we may not be able to consummate our initial business combination within 18 months, we may, by resolution of our board of
directors if requested by our sponsors, extend the period of time to consummate a business combination up to two times, each by
an additional three months (for a total of up to 24 months to complete a business combination), subject to the sponsors depositing
additional funds into the trust account as set out below. In order for the time available for us to consummate our initial business
combination to be extended, our sponsors or their affiliates or designees must deposit into the trust account for each three month
extension $1,000,000 or $1,150,000 if the underwriters&rsquo; over-allotment option is exercised in full ($0.10 per share in either
case) on or prior to the date of the applicable deadline, up to an aggregate of $2,000,000 (or $2,300,000 if the underwriters&rsquo;
over-allotment option is exercised in full), or approximately $0.20 per share. Any such payments would be made in the form of
a loan. The terms of the promissory note to be issued in connection with any such loans have not yet been negotiated. Consequently,
such loans might not be made on the terms described in this prospectus. Our sponsors and their affiliates or designees are not
obligated to fund the trust account to extend the time for us to complete our initial business combination. If we are unable to
consummate our initial business combination within the applicable time period, we will, promptly redeem the public shares for
a pro rata portion of the funds held in the trust account and promptly 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. In such event, the rights and warrants will
be worthless.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
may not be able to complete our initial business combination within the prescribed time frame, in which case we would cease all
operations except for the purpose of winding up and we would redeem our public shares and liquidate.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
must complete our initial business combination within 18 months from the closing of this offering (or up to 24 months from the
closing of this offering if we extend the period of time to consummate a business combination, as described in more detail in
this prospectus). We may not be able to find a suitable target business and complete our initial business combination within such
time period. If we have not completed our initial business combination within such time period, we will: (i)&nbsp;cease all operations
except for the purpose of winding up, (ii)&nbsp;as promptly as reasonably possible but not more than ten business days thereafter,
redeem the public shares, at a&nbsp;per-share&nbsp;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&rsquo;
rights as stockholders (including the right to receive further liquidation distributions, if any), subject to applicable law,
and (iii)&nbsp;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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
we seek stockholder approval of our initial business combination, our initial stockholders, directors, executive officers, advisors
and their affiliates may elect to purchase shares from public stockholders, which may influence a vote on a proposed business
combination and reduce the public &ldquo;float&rdquo; of our common stock.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
we seek stockholder approval of our initial business combination and we do not conduct redemptions in connection with our business
combination pursuant to the tender offer rules, our initial stockholders, directors, executive officers, advisors or their affiliates
may purchase shares in privately negotiated transactions or in the open market either prior to or following the completion of
our initial business combination, although they are under no obligation to do so. Such a purchase may include a contractual acknowledgement
that such stockholder, although still the record holder of our shares is no longer the beneficial owner thereof and therefore
agrees not to exercise its redemption rights. In the event that our initial stockholders, directors, executive officers, advisors
or their affiliates purchase shares in privately negotiated transactions from public stockholders who have already elected to
exercise their redemption rights, such selling stockholders would be required to revoke their prior elections to redeem their
shares. The purpose of such purchases could be to vote such shares in favor of the business combination and thereby increase the
likelihood of obtaining stockholder approval of the business combination or to satisfy a closing condition in an agreement with
a target that requires us to have a minimum net worth or a certain amount of cash at the closing of our business combination,
where it appears that such requirement would otherwise not be met. This may result in the completion of a business combination
that may not otherwise have been possible.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
addition, if such purchases are made, the public &ldquo;float&rdquo; of our common stock and the number of beneficial holders
of our securities may be reduced, possibly making it difficult to maintain or obtain the quotation, listing or trading of our
securities on a national securities exchange.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
a stockholder fails to receive notice of our offer to redeem our public shares in connection with our business combination, or
fails to comply with the procedures for tendering its shares, such shares may not be redeemed.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
will comply with the tender offer rules or proxy rules, as applicable, when conducting redemptions in connection with our business
combination. Despite our compliance with these rules, if a stockholder fails to receive our tender offer or proxy materials, as
applicable, such stockholder may not become aware of the opportunity to redeem its shares. In addition, the tender offer documents
or proxy materials, as applicable, that we will furnish to holders of our public shares in connection with our initial business
combination will describe the various procedures that must be complied with in order to validly tender or redeem public shares.
In the event that a stockholder fails to comply with these procedures, its shares may not be redeemed. See &ldquo;Proposed Business&nbsp;&mdash;
Business Strategy&nbsp;&mdash; Tendering stock certificates in connection with a tender offer or redemption rights.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">You
will not be entitled to protections normally afforded to investors of many other blank check companies.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Since
the net proceeds of this offering and the sale of the private placement warrants are intended to be used to complete an initial
business combination with a target business that has not been identified, we may be deemed to be a &ldquo;blank check&rdquo; company
under the United States securities laws. However, because we will have net tangible assets in excess of $5,000,000 upon the successful
completion of this offering and the sale of the private placement warrants and will file a Current Report on Form&nbsp;8-K,&nbsp;including
an audited balance sheet demonstrating this fact, we are exempt from rules promulgated by the SEC to protect investors in blank
check companies, such as Rule 419. Accordingly, investors will not be afforded the benefits or protections of those rules. Among
other things, this means our units sold in this offering will be immediately tradable and we will have a longer period of time
to complete our business combination than do companies subject to Rule 419. Moreover, if this offering were subject to Rule 419,
that rule would prohibit the release of any interest earned on funds held in the trust account to us unless and until the funds
in the trust account were released to us in connection with our completion of an initial business combination. For a more detailed
comparison of our offering to offerings that comply with Rule 419, please see &ldquo;Proposed Business &mdash; Comparison of This
Offering to Those of Blank Check Companies Subject to Rule 419.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
we seek stockholder approval of our initial business combination and we do not conduct redemptions pursuant to the tender offer
rules, and if you or a &ldquo;group&rdquo; of stockholders are deemed to hold 15% or more of our common stock, you will lose the
ability to redeem all such shares equal to or in excess of 15% of our common stock.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">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 will provide 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 &ldquo;group&rdquo; (as defined under Section&nbsp;13 of the Exchange Act), will be restricted from seeking
redemption rights with respect to an aggregate of 15% or more of the shares sold in this offering, which we refer to as the &ldquo;Excess
Shares.&rdquo; However, we would not be restricting our stockholders&rsquo; ability to vote all of their shares (including Excess
Shares) for or against our business combination. Your inability to redeem the Excess Shares will reduce your influence over our
ability to complete our business combination and you could suffer a material loss on your investment in us if you sell Excess
Shares in open market transactions. Additionally, you will not receive redemption distributions with respect to the Excess Shares
if we complete our business combination. And as a result, you will continue to hold that number of shares equal to or exceeding
15% and, in order to dispose of such shares, would be required to sell your stock in open market transactions, potentially at
a loss.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Because
of our limited resources and the significant competition for business combination opportunities, it may be more difficult for
us to complete our initial business combination. If we are unable to complete our initial business combination, our public stockholders
may receive only approximately $10.00 per share, on our redemption, and our warrants will expire worthless.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
expect to encounter intense competition from other entities having a business objective similar to ours, including private investors
(which may be individuals or investment partnerships), other blank check companies and other entities, domestic and international,
competing for the types of businesses we intend to acquire. Many of these individuals and entities are well-established and have
extensive experience in identifying and effecting, directly or indirectly, acquisitions of companies operating in or providing
services to various industries. Many of these competitors possess greater technical, human and other resources or more local industry
knowledge than we do and our financial resources will be relatively limited when contrasted with those of many of these competitors.
While we believe there are numerous target businesses we could potentially acquire with the net proceeds of this offering and
the sale of the private placement warrants, our ability to compete with respect to the acquisition of certain target businesses
that are sizable will be limited by our available financial resources. This inherent competitive limitation gives others an advantage
in pursuing the acquisition of certain target businesses. Furthermore, if we are obligated to pay cash for the shares of common
stock redeemed and, in the event we seek stockholder approval of our business combination, we make purchases of our common stock,
the resources available to us for our initial business combination will potentially be reduced. Any of these obligations may place
us at a competitive disadvantage in successfully negotiating a business combination. If we are unable to complete our initial
business combination, our public stockholders may receive only approximately $10.00 per share on the liquidation of our trust
account and our warrants will expire worthless.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
the net proceeds of this offering and the sale of the private placement warrants not being held in the trust account are insufficient
to allow us to operate for at least 18 months following the closing of this offering, we may be unable to complete our initial
business combination.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
funds available to us outside of the trust account may not be sufficient to allow us to operate for at least 18 months (or up
to 24 months from the closing of this offering if we extend the period of time to consummate a business combination, as described
in more detail in this prospectus) following the closing of this offering, assuming that our initial business combination is not
completed during that time. Of the funds available to us, we could use a portion of the funds available to us to pay fees to consultants
to assist us with our search for a target business. We could also use a portion of the funds as a down payment or to fund a&nbsp;&ldquo;no-shop&rdquo;&nbsp;provision
(a provision in letters of intent designed to keep target businesses from &ldquo;shopping&rdquo; around for transactions with
other companies on terms more favorable to such target businesses) with respect to a particular proposed business combination,
although we do not have any current intention to do so. If we entered into a letter of intent where we paid for the right to receive
exclusivity from a target business and were subsequently required to forfeit such funds (whether as a result of our breach or
otherwise), we might not have sufficient funds to continue searching for, or conduct due diligence with respect to, a target business.
If we are unable to complete our initial business combination, our public stockholders may receive only approximately $10.00 per
share on the liquidation of our trust account and our warrants will expire worthless.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
the net proceeds of this offering and the sale of the private placement warrants not being held in the trust account are insufficient,
it could limit the amount available to fund our search for a target business or businesses and complete our initial business combination
and we will depend on loans from our initial stockholders or management team to fund our search, to pay our taxes and to complete
our business combination.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Of
the net proceeds of this offering and the sale of the private placement warrants, only approximately $500,000 will be available
to us initially outside the trust account to fund our working capital requirements. In the event that our offering expenses exceed
our estimate of $500,000, we may fund such excess with funds not to be held in the trust account. In such case, the amount of
funds we intend to be held outside the trust account would decrease by a corresponding amount. Conversely, in the event that the
offering expenses are less than our estimate, the amount of funds we intend to be held outside the trust account would increase
by a corresponding amount. If we are required to seek additional capital, we would need to borrow funds from our initial stockholders,
management team or other third parties to operate or may be forced to liquidate. None of our initial stockholders, members of
our management team or any of their affiliates is under any obligation to advance funds to us in such circumstances. Any such
advances would be repaid only from funds held outside the trust account or from funds released to us upon completion of our initial
business combination. Up to $1,500,000 of such working capital loans may be convertible into private placement-equivalent 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 of the underlying warrants. We do not expect to seek loans
from parties other than our initial stockholders or an affiliate of our initial stockholders as we do not believe third parties
will be willing to loan such funds and provide a waiver against any and all rights to seek access to funds in our trust account.
If we are unable to complete our initial business combination because we do not have sufficient funds available to us, we will
be forced to cease operations and liquidate the trust account.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Consequently,
our public stockholders may only receive approximately $10.00 per share on our redemption of our public shares, and our warrants
will expire worthless.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
may seek acquisition opportunities in companies that may be outside of our management&rsquo;s areas of expertise.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
will consider a business combination outside of our management&rsquo;s areas of expertise if a business combination candidate
is presented to us and we determine that such candidate offers an attractive acquisition opportunity for our company. In the event
we elect to pursue an acquisition outside of the areas of our management&rsquo;s expertise, our management&rsquo;s expertise may
not be directly applicable to its evaluation or operation, and the information contained in this prospectus regarding the areas
of our management&rsquo;s expertise would not be relevant to an understanding of the business that we elect to acquire. As a result,
our management may not be able to adequately ascertain or assess all of the significant risk factors. Accordingly, any stockholders
who choose to remain stockholders following our business combination could suffer a reduction in the value of their shares. Such
stockholders are unlikely to have a remedy for such reduction in value unless they are able to successfully claim that the reduction
was due to the breach by our officers or directors of a duty of care or other fiduciary duty owed to them, or if they are able
to successfully bring a private claim under securities laws that the tender offer materials or proxy statement relating to the
business combination contained an actionable material misstatement or material omission.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Although
we have identified general criteria and guidelines that we believe are important in evaluating prospective target businesses,
we may enter into our initial business combination with a target that does not meet such criteria and guidelines, and as a result,
the target business with which we enter into our initial business combination may not have attributes entirely consistent with
our general criteria and guidelines.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Although
we have identified general criteria and guidelines for evaluating prospective target businesses, it is possible that a target
business with which we enter into our initial business combination will not have all of these positive attributes. If we complete
our initial business combination with a target that does not meet some or all of these guidelines, such combination may not be
as successful as a combination with a business that does meet all of our general criteria and guidelines. In addition, if we announce
a prospective business combination with a target that does not meet our general criteria and guidelines, a greater number of stockholders
may exercise their redemption rights, which may make it difficult for us to meet any closing condition with a target business
that requires us to have a minimum net worth or a certain amount of cash. In addition, if stockholder approval of the transaction
is required by law, or we decide to obtain stockholder approval for business or other legal reasons, it may be more difficult
for us to attain stockholder approval of our initial business combination if the target business does not meet our general criteria
and guidelines. If we are unable to complete our initial business combination, our public stockholders may receive only approximately
$10.00 per share on the liquidation of our trust account and our warrants will expire worthless.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
are not required to obtain an opinion from an independent investment banking firm or from an independent accounting firm, and
consequently, you may have no assurance from an independent source that the price we are paying for the business is fair to our
company from a financial point of view.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Unless
we complete our business combination with an affiliated entity, or our board of directors cannot independently determine the fair
market value of the target business or businesses, we are not required to obtain an opinion from an independent investment banking
firm that is a member of FINRA or from an independent accounting firm that the price we are paying for a target is fair to our
company from a financial point of view. If no opinion is obtained, our stockholders will be relying on the judgment of our board
of directors, who will determine fair market value based on standards generally accepted by the financial community. Such standards
used will be disclosed in our tender offer documents or proxy solicitation materials, as applicable, related to our initial business
combination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Resources
could be wasted in researching acquisitions that are not completed, which could materially adversely affect subsequent attempts
to locate and acquire or merge with another business. If we are unable to complete our initial business combination, our public
stockholders may receive only approximately $10.00 per share on the liquidation of our trust account and our warrants will expire
worthless.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
anticipate that the investigation of each specific target business and the negotiation, drafting and execution of relevant agreements,
disclosure documents and other instruments will require substantial management time and attention and substantial costs for accountants,
attorneys and others. If we decide not to complete a specific initial business combination, the costs incurred up to that point
for the proposed transaction likely would not be recoverable. Furthermore, if we reach an agreement relating to a specific target
business, we may fail to complete our initial business combination for any number of reasons including those beyond our control.
Any such event will result in a loss to us of the related costs incurred which could materially adversely affect subsequent attempts
to locate and acquire or merge with another business. If we are unable to complete our initial business combination, our public
stockholders may receive only approximately $10.00 per share on the liquidation of our trust account and our warrants will expire
worthless.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
may have a limited ability to assess the management of a prospective target business and, as a result, may effect our initial
business combination with a target business whose management may not have the skills, qualifications or abilities to manage a
public company.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">When
evaluating the desirability of effecting our initial business combination with a prospective target business, our ability to assess
the target business&rsquo; management may be limited due to a lack of time, resources or information. Our assessment of the capabilities
of the target&rsquo;s management, therefore, may prove to be incorrect and such management may lack the skills, qualifications
or abilities we suspected. Should the target&rsquo;s management not possess the skills, qualifications or abilities necessary
to manage a public company, the operations and profitability of the post-combination business may be negatively impacted. Accordingly,
any stockholders who choose to remain stockholders following the business combination could suffer a reduction in the value of
their shares. Such stockholders are unlikely to have a remedy for such reduction in value unless they are able to successfully
claim that the reduction was due to the breach by our officers or directors of a duty of care or other fiduciary duty owed to
them, or if they are able to successfully bring a private claim under securities laws that the tender offer materials or proxy
statement relating to the business combination contained an actionable material misstatement or material omission.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
officers and directors of an acquisition candidate may resign upon completion of our initial business combination. The departure
of a business combination target&rsquo;s key personnel could negatively impact the operations and profitability of our post-combination
business. The role of an acquisition candidate&rsquo;s key personnel upon the completion of our initial business combination cannot
be ascertained at this time. Although we contemplate that certain members of an acquisition candidate&rsquo;s management team
will remain associated with the acquisition candidate following our initial business combination, it is possible that members
of the management of an acquisition candidate will not wish to remain in place.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
may engage in a business combination with one or more target businesses that have relationships with entities that may be affiliated
with our sponsors, executive officers and directors which may raise potential conflicts of interest.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
light of the involvement of our sponsors, executive officers and directors with other entities, we may decide to acquire one or
more businesses affiliated with our sponsors, executive officers and directors. Our directors also serve as officers and board
members for other entities, including, without limitation, those described under &ldquo;Management &mdash; Conflicts of Interest.&rdquo;
Such entities may compete with us for business combination opportunities. Our sponsors, officers and directors are not currently
aware of any specific opportunities for us to complete our initial business combination with any entities with which they are
affiliated, and there have been no preliminary discussions concerning a business combination with any such entity or entities.
Although we will not be specifically focusing on, or targeting, any transaction with any affiliated entities, we would pursue
such a transaction if we determined that such affiliated entity met our criteria for a business combination as set forth in &ldquo;Proposed
Business&nbsp;&mdash; Effecting our initial business combination &mdash; Selection of a target business and structuring of our
initial business combination&rdquo; and such transaction was approved by a majority of our disinterested directors. Despite our
agreement to obtain an opinion from an independent investment banking firm that is a member of FINRA, or from an independent accounting
firm, regarding the fairness to our company from a financial point of view of a business combination with one or more domestic
or international businesses affiliated with our executive officers or directors, potential conflicts of interest still may exist
and, as a result, the terms of the business combination may not be as advantageous to our public stockholders as they would be
absent any conflicts of interest.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
will likely only be able to complete one business combination with the proceeds of this offering and the sale of the private placement
warrants, which will cause us to be solely dependent on a single business which may have a limited number of products or services.
This lack of diversification may negatively impact our operations and profitability.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
may effectuate our initial business combination with a single target business or multiple target businesses simultaneously or
within a short period of time. However, we may not be able to effectuate our initial business combination with more than one target
business because of various factors, including the existence of complex accounting issues and the requirement that we prepare
and file pro forma financial statements with the SEC that present operating results and the financial condition of several target
businesses as if they had been operated on a combined basis. By completing our initial business combination with only a single
entity, our lack of diversification may subject us to numerous economic, competitive and regulatory risks. Further, we would not
be able to diversify our operations or benefit from the possible spreading of risks or offsetting of losses, unlike other entities
which may have the resources to complete several business combinations in different industries or different areas of a single
industry. Accordingly, the prospects for our success may be:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">solely
                                         dependent upon the performance of a single business, property or asset, or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">dependent
                                         upon the development or market acceptance of a single or limited number of products,
                                         processes or services.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">This
lack of diversification may subject us to numerous economic, competitive and regulatory risks, any or all of which may have a
substantial adverse impact upon the particular industry in which we may operate subsequent to our initial business combination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
may attempt to simultaneously complete business combinations with multiple prospective targets, which may hinder our ability to
complete our initial business combination and give rise to increased costs and risks that could negatively impact our operations
and profitability.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
we determine to simultaneously acquire several businesses that are owned by different sellers, we will need for each of such sellers
to agree that our purchase of its business is contingent on the simultaneous closings of the other business combinations, which
may make it more difficult for us, and delay our ability, to complete our initial business combination. With multiple business
combinations, we could also face additional risks, including additional burdens and costs with respect to possible multiple negotiations
and due diligence investigations (if there are multiple sellers) and the additional risks associated with the subsequent assimilation
of the operations and services or products of the acquired companies in a single operating business. If we are unable to adequately
address these risks, it could negatively impact our profitability and results of operations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
management may not be able to maintain control of a target business after our initial business combination. We cannot provide
assurance that, upon loss of control of a target business, new management will possess the skills, qualifications or abilities
necessary to profitably operate such business.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
may structure our initial business combination so that the post-transaction company in which our public stockholders own shares
will own less than 100% of the equity interests or assets of a target business, but we will only complete such business combination
if the post-transaction company owns or acquires 50% or more of the outstanding voting securities of the target or otherwise acquires
a controlling interest in the target sufficient for us not to be required to register as an investment company under the Investment
Company Act. We will not consider any transaction that does not meet such criteria. Even if the post-transaction company owns
50% or more of the voting securities of the target, our stockholders prior to the business combination may collectively own a
minority interest in the post business combination company, depending on valuations ascribed to the target and us in the business
combination transaction. For example, we could pursue a transaction in which we issue a substantial number of new shares of common
stock in exchange for all of the outstanding capital stock of a target. In this case, we would acquire a 100% interest in the
target. However, as a result of the issuance of a substantial number of new shares of common stock, our stockholders immediately
prior to such transaction could own less than a majority of our outstanding shares of common stock subsequent to such transaction.
In addition, other minority stockholders may subsequently combine their holdings resulting in a single person or group obtaining
a larger share of the company&rsquo;s stock than we initially acquired. Accordingly, this may make it more likely that our management
will not be able to maintain our control of the target business.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
do not have a specified maximum redemption threshold, except that in no event will we redeem our public shares in an amount that
would cause our net tangible assets to be less than $5,000,001 both immediately before and after the consummation of our initial
business combination. The absence of such a redemption threshold may make it possible for us to complete our initial business
combination with which a substantial majority of our stockholders do not agree.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
amended and restated certificate of incorporation will not provide a specified maximum redemption threshold, except that in no
event will we redeem our public shares in an amount that would cause our net tangible assets to be less than $5,000,001 both immediately
before and after the consummation of our initial business combination (such that we become subject to the SEC&rsquo;s &ldquo;penny
stock&rdquo; rules) or any greater net tangible asset or cash requirement which may be contained in the agreement relating to
our initial business combination. As a result, we may be able to complete our initial business combination even though a substantial
majority of our public stockholders do not agree with the transaction and have redeemed their shares or, if we seek stockholder
approval of our initial business combination and do not conduct redemptions in connection with our initial business combination
pursuant to the tender offer rules, have entered into privately negotiated agreements to sell their shares to our initial stockholders,
including our officers or directors, or their advisors or their affiliates. In the event the aggregate cash consideration we would
be required to pay for all shares of common stock that are validly submitted for redemption plus any amount required to satisfy
cash conditions pursuant to the terms of the proposed business combination exceed the aggregate amount of cash available to us,
we will not complete the business combination or redeem any shares, all shares of common stock submitted for redemption will be
returned to the holders thereof, and we instead may search for an alternate business combination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
may be unable to obtain additional financing to complete our initial business combination or to fund the operations and growth
of a target business, which could compel us to restructure or abandon a particular business combination.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Although
we believe that the net proceeds of this offering and the sale of the private placement warrants will be sufficient to allow us
to complete our initial business combination, because we have not yet identified any prospective target business we cannot ascertain
the capital requirements for any particular transaction. If the net proceeds of this offering and the sale of the private placement
warrants prove to be insufficient, either because of the size of our initial business combination, the depletion of the available
net proceeds in search of a target business, the obligation to repurchase for cash a significant number of shares from stockholders
who elect redemption in connection with our initial business combination or the terms of negotiated transactions to purchase shares
in connection with our initial business combination, we may be required to seek additional financing or to abandon the proposed
business combination. We cannot assure you that such financing will be available on acceptable terms, if at all. To the extent
that additional financing proves to be unavailable when needed to complete our initial business combination, we would be compelled
to either restructure the transaction or abandon that particular business combination and seek an alternative target business
candidate. In addition, even if we do not need additional financing to complete our business combination, we may require such
financing to fund the operations or growth of the target business. The failure to secure additional financing could have a material
adverse effect on the continued development or growth of the target business. None of our officers, directors or stockholders
is required to provide any financing to us in connection with or after our business combination. If we are unable to complete
our initial business combination, our public stockholders may only receive approximately $10.00 per share on the liquidation of
our trust account, and our warrants will expire worthless.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Because
we must furnish our stockholders with target business financial statements, we may lose the ability to complete an otherwise advantageous
initial business combination with some prospective target businesses.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
federal proxy rules require that a proxy statement with respect to a vote on a business combination meeting certain financial
significance tests include historical and/or pro forma financial statement disclosure. We will include the same financial statement
disclosure in connection with our tender offer documents, whether or not they are required under the tender offer rules. These
financial statements may be required to be prepared in accordance with, or be reconciled to, accounting principles generally accepted
in the United States of America, or GAAP, or international financial reporting standards depending on the circumstances and the
historical financial statements may be required to be audited in accordance with the standards of the Public Company Accounting
Oversight Board (United States), or PCAOB. These financial statement requirements may limit the pool of potential target businesses
we may acquire because some targets may be unable to provide such financial statements in time for us to disclose such financial
statements in accordance with federal proxy rules and complete our initial business combination within the prescribed time frame.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
search for a business combination, and any target business with which we ultimately consummate our initial business combination,
may be materially adversely affected by the coronavirus&nbsp;(COVID-19)&nbsp;pandemic.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The&nbsp;COVID-19&nbsp;pandemic
has resulted in a widespread health crisis and is adversely affecting the economies and financial markets in the U.S. and worldwide,
and could adversely affect the business of any potential target company with which we consummate a business combination. Furthermore,
we may be unable to complete a business combination if continued concerns relating to&nbsp;COVID-19&nbsp;continue to restrict
travel, continue to limit the ability to have meetings with potential investors or the target company&rsquo;s personnel, vendors
and services providers are unavailable to negotiate and consummate a transaction in a timely manner. The extent to which&nbsp;COVID-19&nbsp;impacts
our search for a business combination will depend on future developments, which are highly uncertain and cannot be predicted,
including new information which may emerge concerning the severity of&nbsp;COVID-19&nbsp;and the actions to contain&nbsp;COVID-19&nbsp;or
treat its impact, among others. If the disruptions posed by&nbsp;COVID-19&nbsp;or other matters of global concern continue for
an extensive period of time, our ability to consummate a business combination, or the operations of a target business with which
we ultimately consummate a business combination, may be materially adversely affected.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
addition, our ability to consummate a transaction may be dependent on the ability to raise equity and debt financing which may
be impacted by COVID-19 and other events, including a result of increased market volatility, decreased market liquidity and third
party financing being unavailable on terms acceptable to us or at all.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Finally,
the outbreak of COVID-19 or other infectious diseases may also have the effect of heightening many of the other risks described
in this &ldquo;Risk Factors&rdquo; section, such as those related to the market for our securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Risks
Relating to the Post-Business Combination Company</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Subsequent
to the completion of our initial business combination, we may be required to take write-downs or write-offs, restructuring and
impairment or other charges that could have a significant negative effect on our financial condition, results of operations and
our stock price, which could cause you to lose some or all of your investment.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Even
if we conduct extensive due diligence on a target business with which we combine, we cannot assure you that this diligence will
surface all material issues that may be present inside a particular target business, that it would be possible to uncover all
material issues through a customary amount of due diligence, or that factors outside of the target business and outside of our
control will not later arise. As a result of these factors, we may be forced to later write-down or&nbsp;write-off&nbsp;assets,
restructure our operations, or incur impairment or other charges that could result in our reporting losses. Even if our due diligence
successfully identifies certain risks, unexpected risks may arise and previously known risks may materialize in a manner not consistent
with our preliminary risk analysis. Even though these charges may be&nbsp;non-cash&nbsp;items and not have an immediate impact
on our liquidity, the fact that we report charges of this nature could contribute to negative market perceptions about us or our
securities. In addition, charges of this nature may cause us to violate net worth or other covenants to which we may be subject
as a result of assuming&nbsp;pre-existing&nbsp;debt held by a target business or by virtue of our obtaining post-combination debt
financing. Accordingly, any stockholders who choose to remain stockholders following the business combination could suffer a reduction
in the value of their shares. Such stockholders are unlikely to have a remedy for such reduction in value unless they are able
to successfully claim that the reduction was due to the breach by our officers or directors of a duty of care or other fiduciary
duty owed to them, or if they are able to successfully bring a private claim under securities laws that the tender offer materials
or proxy statement relating to the business combination contained an actionable material misstatement or material omission.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Because
we are not limited to a particular industry or any specific target businesses with which to pursue our initial business combination,
you will be unable to ascertain the merits or risks of any particular target business&rsquo; operations.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Although
we expect to focus our search for a target business on entities in the customer engagement sector of the telecommunications, retail
and financial services industries, we may seek to complete a business combination with an operating company in any industry or
sector. However, we will not, under our amended and restated certificate of incorporation, be permitted to effectuate our business
combination with another blank check company or similar company with nominal operations. Because we have not yet identified or
approached any specific target business with respect to a business combination, there is no basis to evaluate the possible merits
or risks of any particular target business&rsquo; operations, results of operations, cash flows, liquidity, financial condition
or prospects. To the extent we complete our business combination, we may be affected by numerous risks inherent in the business
operations with which we combine. For example, if we combine with a financially unstable business or an entity lacking an established
record of sales or earnings, we may be affected by the risks inherent in the business and operations of a financially unstable
or a development stage entity. Although our officers and directors will endeavor to evaluate the risks inherent in a particular
target business, we cannot assure you that we will properly ascertain or assess all of the significant risk factors or that we
will have adequate time to complete due diligence. Furthermore, some of these risks may be outside of our control and leave us
with no ability to control or reduce the chances that those risks will adversely impact a target business. We also cannot assure
you that an investment in our units will ultimately prove to be more favorable to investors than a direct investment, if such
opportunity were available, in a business combination target. Accordingly, any stockholders who choose to remain stockholders
following the business combination could suffer a reduction in the value of their shares. Such stockholders are unlikely to have
a remedy for such reduction in value unless they are able to successfully claim that the reduction was due to the breach by our
officers or directors of a duty of care or other fiduciary duty owed to them, or if they are able to successfully bring a private
claim under securities laws that the tender offer materials or proxy statement relating to the business combination contained
an actionable material misstatement or material omission.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
may issue notes or other debt securities, or otherwise incur substantial debt, to complete a business combination, which may adversely
affect our leverage and financial condition and thus negatively impact the value of our stockholders&rsquo; investment in us.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Although
we have no commitments as of the date of this prospectus to issue any notes or other debt securities, or to otherwise incur outstanding
debt following this offering, we may choose to incur substantial debt to complete our initial business combination. We have agreed
that we will not incur any indebtedness unless we have obtained from the lender a waiver of any right, title, interest or claim
of any kind in or to the monies held in the trust account. As such, no issuance of debt will affect the&nbsp;per-share&nbsp;amount
available for redemption from the trust account. Nevertheless, the incurrence of debt could have a variety of negative effects,
including:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">default
                                         and foreclosure on our assets if our operating revenues after an initial business combination
                                         are insufficient to repay our debt obligations;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">acceleration
                                         of our obligations to repay the indebtedness even if we make all principal and interest
                                         payments when due if we breach certain covenants that require the maintenance of certain
                                         financial ratios or reserves without a waiver or renegotiation of that covenant;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">our
                                         immediate payment of all principal and accrued interest, if any, if the debt security
                                         is payable on demand;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">our
                                         inability to obtain necessary additional financing if the debt security contains covenants
                                         restricting our ability to obtain such financing while the debt security is outstanding;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">our
                                         inability to pay dividends on our common stock;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">using
                                         a substantial portion of our cash flow to pay principal and interest on our debt, which
                                         will reduce the funds available for dividends on our common stock if declared, expenses,
                                         capital expenditures, acquisitions and other general corporate purposes;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">limitations
                                         on our flexibility in planning for and reacting to changes in our business and in the
                                         industry in which we operate;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">increased
                                         vulnerability to adverse changes in general economic, industry and competitive conditions
                                         and adverse changes in government regulation; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">limitations
                                         on our ability to borrow additional amounts for expenses, capital expenditures, acquisitions,
                                         debt service requirements, execution of our strategy and other purposes and other disadvantages
                                         compared to our competitors who have less debt.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
we effect our initial business combination with a company with operations or opportunities outside of the United States, we would
be subject to a variety of additional risks that may negatively impact our operations.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
we effect our initial business combination with a company with operations or opportunities outside of the United States, we would
be subject to any special considerations or risks associated with companies operating in an international setting, including any
of the following:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 24.5pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">higher
                                         costs and difficulties inherent in managing cross-border business operations and complying
                                         with different commercial and legal requirements of overseas markets;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">rules
                                         and regulations regarding currency redemption;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">laws
                                         governing the manner in which future business combinations may be effected;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">tariffs
                                         and trade barriers;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">regulations
                                         related to customs and import/export matters;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">local
                                         or regional economic policies and market conditions;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">unexpected
                                         changes in regulatory requirements;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">longer
                                         payment cycles;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">tax
                                         issues, such as tax law changes and variations in tax laws as compared to the United
                                         States;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">currency
                                         fluctuations and exchange controls;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">rates
                                         of inflation;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">challenges
                                         in collecting accounts receivable;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">cultural
                                         and language differences;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">employment
                                         regulations;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">underdeveloped
                                         or unpredictable legal or regulatory systems;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">corruption;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">protection
                                         of intellectual property;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">social
                                         unrest, crime, strikes, riots, civil disturbances, regime changes, political upheaval,
                                         terrorist attacks, natural disasters and wars;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">deterioration
                                         of political relations with the United States; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">government
                                         appropriation of assets.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We may
not be able to adequately address these additional risks. If we were unable to do so, our operations might suffer, which may adversely
impact our results of operations and financial condition.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Risks
Relating to our Management Team</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Past
performance by our management team may not be indicative of future performance of an investment in us.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Information
regarding performance by, or businesses associated with, our management team is presented for informational purposes only. Any
past experience and performance of our management team is not a guarantee either: (a) that we will be able to successfully identify
a suitable candidate for our initial business combination; or (b)&nbsp;of any results with respect to any initial business combination
we may consummate. You should not rely on the historical record of our management team&rsquo;s performance as indicative of the
future performance of an investment in us or the returns we will, or are likely to, generate going forward.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
are dependent upon our executive officers and directors and their departure could adversely affect our ability to operate.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
operations are dependent upon a relatively small group of individuals. We believe that our success depends on the continued service
of our executive officers and directors, at least until we have completed our business combination. In addition, our executive
officers and directors are not required to commit any specified amount of time to our affairs and, accordingly, will have conflicts
of interest in allocating management time among various business activities, including identifying potential business combinations
and monitoring the related due diligence. We do not have an employment agreement with, or&nbsp;key-man&nbsp;insurance on the life
of, any of our directors or executive officers. The unexpected loss of the services of one or more of our directors or executive
officers could have a detrimental effect on us.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
ability to successfully effect our initial business combination and to be successful thereafter will be totally dependent upon
the efforts of our key personnel, some of whom may join us following our initial business combination. The loss of key personnel
could negatively impact the operations and profitability of our post-combination business.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
ability to successfully effect our initial business combination is dependent upon the efforts of our key personnel. The role of
our key personnel in the target business, however, cannot presently be ascertained. Although some of our key personnel may remain
with the target business in senior management or advisory positions following our initial business combination, it is likely that
some or all of the management of the target business will remain in place. While we intend to closely scrutinize any individuals
we engage after our initial business combination, we cannot assure you that our assessment of these individuals will prove to
be correct. These individuals may be unfamiliar with the requirements of operating a company regulated by the SEC, which could
cause us to have to expend time and resources helping them become familiar with such requirements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
key personnel may negotiate employment or consulting agreements with a target business in connection with a particular business
combination. These agreements may provide for them to receive compensation following our initial business combination and as a
result, may cause them to have conflicts of interest in determining whether a particular business combination is the most advantageous.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
key personnel may be able to remain with the company after the completion of our initial business combination only if they are
able to negotiate employment or consulting agreements in connection with the business combination. Such negotiations would take
place simultaneously with the negotiation of the business combination and could provide for such individuals to receive compensation
in the form of cash payments and/or our securities for services they would render to us after the completion of the business combination.
The personal and financial interests of such individuals may influence their motivation in identifying and selecting a target
business. However, we believe the ability of such individuals to remain with us after the completion of our initial business combination
will not be the determining factor in our decision as to whether or not we will proceed with any potential business combination.
There is no certainty, however, that any of our key personnel will remain with us after the completion of our business combination.
We cannot assure you that any of our key personnel will remain in senior management or advisory positions with us. The determination
as to whether any of our key personnel will remain with us will be made at the time of our initial business combination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
executive officers and directors will allocate their time to other businesses thereby causing conflicts of interest in their determination
as to how much time to devote to our affairs. This conflict of interest could have a negative impact on our ability to complete
our initial business combination.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
executive officers and directors are not required to, and will not, commit their full time to our affairs, which may result in
a conflict of interest in allocating their time between our operations and our search for a business combination and their other
businesses. We do not intend to have any full-time employees prior to the completion of our initial business combination. Each
of our executive officers is engaged in several other business endeavors for which he may be entitled to substantial compensation
and our executive officers are not obligated to contribute any specific number of hours per week to our affairs. Our independent
directors also serve as officers and board members for other entities. If our executive officers&rsquo; and directors&rsquo; other
business affairs require them to devote substantial amounts of time to such affairs in excess of their current commitment levels,
it could limit their ability to devote time to our affairs which may have a negative impact on our ability to complete our initial
business combination. For a complete discussion of our executive officers&rsquo; and directors&rsquo; other business affairs,
please see &ldquo;Management &mdash; Directors and Executive Officers.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Certain
of our executive officers and directors are now, and all of them may in the future become, affiliated with entities engaged in
business activities similar to those intended to be conducted by us following our initial business combination and, accordingly,
may have conflicts of interest in determining to which entity a particular business opportunity should be presented.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Following
the completion of this offering and until we consummate our initial business combination, we intend to engage in the business
of identifying and combining with one or more businesses. Our executive officers and directors are, or may in the future become,
affiliated with entities that are engaged in business activities similar to those intended to be conducted by us following our
initial business combination. See a description of our executive officers&rsquo; and directors&rsquo; current affiliations under
the headings &ldquo;Management&rdquo; and &ldquo;Management &mdash; Conflicts of Interest&rdquo; below.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
officers and directors also may become aware of business opportunities which may be appropriate for presentation to us and the
other entities to which they owe certain fiduciary or contractual duties. Accordingly, they may have conflicts of interest in
determining to which entity a particular business opportunity should be presented. These conflicts may not be resolved in our
favor and a potential target business may be presented to another entity prior to its presentation to us. Our amended and restated
certificate of incorporation will provide that we renounce our interest in any corporate opportunity offered to any director or
officer unless such opportunity is expressly offered to such person solely in his or her capacity as a director or officer of
our company and such opportunity is one we are legally and contractually permitted to undertake and would otherwise be reasonable
for us to pursue.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">For
a complete discussion of our executive officers&rsquo; and directors&rsquo; business affiliations and the potential conflicts
of interest that you should be aware of, please see &ldquo;Management &mdash; Directors and Executive Officers,&rdquo; &ldquo;Management
&mdash; Conflicts of Interest&rdquo; and &ldquo;Certain Relationships and Related Party Transactions.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
executive officers, directors, security holders and their respective affiliates may have competitive pecuniary interests that
conflict with our interests.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
have not adopted a policy that expressly prohibits our executive officers, directors, security holders and their respective affiliates
from having a direct or indirect pecuniary or financial interest in any investment to be acquired or disposed of by us or in any
transaction to which we are a party or have an interest. In fact, we may enter into a business combination with a target business
that is affiliated with our directors or executive officers, although we do not currently intend to do so. Nor do we have a policy
that expressly prohibits any such persons from engaging for their own account in business activities of the types conducted by
us. Accordingly, such persons or entities may have a conflict between their interests and ours.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Since
our initial stockholders, including our sponsors, executive officers and directors, will lose their entire investment in us if
our initial business combination is not completed, a conflict of interest may arise in determining whether a particular business
combination target is appropriate for our initial business combination.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Upon
the closing of this offering, our initial stockholders will hold 2,875,000 founder shares (up to 375,000 of which are subject
to forfeiture). Certain members of our management team also have a financial interest in our sponsors.&nbsp;The founder shares
held by our initial stockholders will be worthless if we do not complete an initial business combination. In addition, our sponsors
will purchase 2,300,000 private warrants (inclusive of 1,000,000 warrants that <FONT STYLE="font-size: 10pt; line-height: 107%">will
be purchased by I-Bankers and, in lieu of I-Bankers acquiring such warrants, they will be issued to our sponsors) </FONT>for
an aggregate purchase price of $2,300,000. All of the foregoing private warrants will also be worthless if we do not consummate
our initial business combination. The personal and financial interests of our sponsors, executive officers and directors may influence
their motivation in identifying and selecting a target business combination, completing an initial business combination and influencing
the operation of the business following the initial business combination. This risk may become more acute as the&nbsp;18-month&nbsp;
(or up to 24 months from the closing of this offering if we extend the period of time to consummate a business combination, as
described in more detail in this prospectus) anniversary of the closing of this offering nears, which is the deadline for our
completion of an initial business combination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Since
our sponsors, executive officers and directors will not be eligible to be reimbursed for their&nbsp;out-of-pocket&nbsp;expenses
if our business combination is not completed, a conflict of interest may arise in determining whether a particular business combination
target is appropriate for our initial business combination.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">At
the closing of our initial business combination, our sponsors, executive officers and directors, or any of their respective affiliates,
will be reimbursed for any&nbsp;out-of-pocket&nbsp;expenses incurred in connection with activities on our behalf such as identifying
potential target businesses and performing due diligence on suitable business combinations. There is no cap or ceiling on the
reimbursement of&nbsp;out-of-pocket&nbsp;expenses incurred in connection with activities on our behalf. These financial interests
of our sponsors, executive officers and directors, may influence their motivation in identifying and selecting a target business
combination and completing an initial business combination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Risks
Relating to Our Securities</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">You
will not have any rights or interests in funds from the trust account, except under certain limited circumstances. To liquidate
your investment, therefore, you may be forced to sell your public shares or warrants, potentially at a loss.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
public stockholders will be entitled to receive funds from the trust account only upon the earliest to occur of: (i)&nbsp;the
completion of our initial business combination, (ii)&nbsp;the redemption of any public shares properly tendered in connection
with a stockholder vote to amend our amended and restated certificate of incorporation (A)&nbsp;to modify the substance or timing
of our obligation to redeem 100% of our public shares if we do not complete our initial business combination within 18 months
from the closing of this offering (or up to 24 months from the closing of this offering if we extend the period of time to consummate
a business combination, as described in more detail in this prospectus) or (B)&nbsp;with respect to any other provision relating
to stockholders&rsquo; rights or&nbsp;pre-business&nbsp;combination activity and (iii)&nbsp;the redemption of all of our public
shares if we are unable to complete our business combination within 18 months from the closing (or up to 24 months from the closing
of this offering if we extend the period of time to consummate a business combination, as described in more detail in this prospectus)
of this offering, subject to applicable law and as further described herein. Stockholders who do not exercise their rights to
the funds in connection with an amendment to our certificate of incorporation would still have rights to the funds in connection
with a subsequent business combination. In no other circumstances will a public stockholder have any right or interest of any
kind in the trust account. Accordingly, to liquidate your investment, you may be forced to sell your public shares or warrants,
potentially at a loss.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Because
each unit contains&nbsp;one-half&nbsp;of one redeemable warrant and only a whole warrant may be exercised, the units may be worth
less than units of other blank check companies.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Each
unit contains&nbsp;one-half&nbsp;of one redeemable warrant. No fractional warrants will be issued upon separation of the units
and only whole warrants will trade. Accordingly, unless you purchase at least two units, you will not be able to receive or trade
a whole warrant. This is different from other offerings similar to ours whose units include one share of common stock and one
warrant to purchase one share. We have established the components of the units in this way in order to reduce the dilutive effect
of the warrants upon completion of an initial business combination since the warrants will be exercisable in the aggregate for
one half of the number of shares compared to units that each contain a warrant to purchase one share, thus making us, we believe,
a more attractive business combination partner for target businesses. Nevertheless, this unit structure may cause our units to
be worth less than if they included a warrant to purchase one share.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Nasdaq
may delist our securities from trading on its exchange, which could limit investors&rsquo; ability to make transactions in our
securities and subject us to additional trading restrictions.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
intend to apply to have our units listed on Nasdaq on or promptly after the date of this prospectus and our common stock and warrants
listed on or promptly after their date of separation. Although after giving effect to this offering we expect to meet, on a pro
forma basis, the minimum initial listing standards set forth in the Nasdaq listing standards, we cannot assure you that our securities
will be, or will continue to be, listed on Nasdaq in the future or prior to our initial business combination. In order to continue
listing our securities on Nasdaq prior to our initial business combination, we must maintain certain financial, distribution and
stock price levels. Additionally, in connection with our initial business combination, we will be required to demonstrate compliance
with Nasdaq&rsquo;s initial listing requirements, which are more rigorous than Nasdaq&rsquo;s continued listing requirements,
in order to continue to maintain the listing of our securities on Nasdaq. For instance, our stock price would generally be required
to be at least $4.00 per share. We cannot assure you that we will be able to meet those initial listing requirements at that time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
Nasdaq delists our securities from trading on its exchange and we are not able to list our securities on another national securities
exchange, we expect our securities could be quoted on an&nbsp;over-the-counter&nbsp;market. If this were to occur, we could face
significant material adverse consequences, including:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">a
                                         limited availability of market quotations for our securities;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">reduced
                                         liquidity for our securities;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">a
                                         determination that our common stock is a &ldquo;penny stock&rdquo; which will require
                                         brokers trading in our common stock to adhere to more stringent rules and possibly result
                                         in a reduced level of trading activity in the secondary trading market for our securities;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">a
                                         limited amount of news and analyst coverage; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">a
                                         decreased ability to issue additional securities or obtain additional financing in the
                                         future.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
third parties bring claims against us, the proceeds held in the trust account could be reduced and the&nbsp;per-share&nbsp;redemption
amount received by stockholders may be less than $10.00 per share.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
placing of funds in the trust account may not protect those funds from third-party claims against us. Although we will seek to
have all vendors, service providers, prospective target businesses or other entities with which we do business execute agreements
with us waiving any right, title, interest or claim of any kind in or to any monies held in the trust account for the benefit
of our public stockholders, such parties may not execute such agreements, or even if they execute such agreements they may not
be prevented from bringing claims against the trust account, including, but not limited to, fraudulent inducement, breach of fiduciary
responsibility or other similar claims, as well as claims challenging the enforceability of the waiver, in each case in order
to gain advantage with respect to a claim against our assets, including the funds held in the trust account. If any third party
refuses to execute an agreement waiving such claims to the monies held in the trust account, our management will perform an analysis
of the alternatives available to it and will only enter into an agreement with a third party that has not executed a waiver if
management believes that such third party&rsquo;s engagement would be significantly more beneficial to us than any alternative.
We are not aware of any product or service providers who have not or will not provide such waiver other than the underwriters
of this offering.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Examples
of possible instances where we may engage a third party that refuses to execute a waiver include the engagement of a third party
consultant whose particular expertise or skills are believed by management to be significantly superior to those of other consultants
that would agree to execute a waiver or in cases where management is unable to find a service provider willing to execute a waiver.
In addition, there is no guarantee that such entities will agree to waive any claims they may have in the future as a result of,
or arising out of, any negotiations, contracts or agreements with us and will not seek recourse against the trust account for
any reason. Upon redemption of our public shares, if we are unable to complete our business combination within the prescribed
timeframe, or upon the exercise of a redemption right in connection with our business combination, we will be required to provide
for payment of claims of creditors that were not waived that may be brought against us within the 10 years following redemption.
Accordingly, the&nbsp;per-share&nbsp;redemption amount received by public stockholders could be less than the $10.00 per share
initially held in the trust account, due to claims of such creditors. Our sponsors have agreed that it will be liable to us if
and to the extent any claims by a vendor for services rendered or products sold to us, or a prospective target business with which
we have discussed entering into a transaction agreement, reduce the amount of funds in the trust account to below (i) $10.00 per
public share or (ii)&nbsp;such lesser amount per public share held in the trust account as of the date of the liquidation of the
trust account due to reductions in the value of the trust assets, in each case net of the interest which may be withdrawn to pay
taxes, except as to any claims by a third party who executed a waiver of any and all rights to seek access to the trust account
and except as to any claims under indemnity of the underwriters of this offering against certain liabilities, including liabilities
under the Securities Act. Moreover, in the event that an executed waiver is deemed to be unenforceable against a third party,
our sponsors will not be responsible to the extent of any liability for such third party claims. We have not asked our sponsors
to reserve for such indemnification obligations, and our sponsors&rsquo; only assets are securities of our company. Therefore,
we cannot assure you that our sponsors would be able to satisfy those obligations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">A
provision of our warrant agreement may make it more difficult for us to consummate an initial business combination.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
(x)&nbsp;we issue additional shares of common stock or equity-linked securities for capital raising purposes in connection with
the closing of our initial business combination at an issue price or effective issue price of less than $9.20 per share of common
stock (with such issue price or effective issue price to be determined in good faith by our board of directors and, in the case
of any such issuance to our sponsors or their affiliates, without taking into account any founder shares held by our sponsors
or their affiliates, as applicable, prior to such issuance) (the &ldquo;newly issued price&rdquo;), (y)&nbsp;the aggregate gross
proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding
of our initial business combination on the date of the completion of our initial business combination (net of redemptions), and
(z)&nbsp;the volume weighted average trading price of our common stock during the 20 trading day period starting on the trading
day prior to the day on which we complete our initial business combination (such price, the &ldquo;Market Value&rdquo;) is below
$9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of
the Market Value and the newly issued price, and the $18.00 per share redemption trigger price will be adjusted (to the nearest
cent) to be equal to 180% of the higher of the Market Value and the newly issued price. This may make it more difficult for us
to consummate an initial business combination with a target business.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
directors may decide not to enforce the indemnification obligations of our sponsors, resulting in a reduction in the amount of
funds in the trust account available for distribution to our public stockholders.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
the event that the proceeds in the trust account are reduced below the lesser of (i) $10.00 per share or (ii)&nbsp;other than
due to the failure to obtain a waiver from a vendor waiving any right, title, interest or claim of any kind in or to any monies
held in the trust account for the benefit of our public stockholders, such lesser amount per share held in the trust account as
of the date of the liquidation of the trust account due to reductions in the value of the trust assets, in each case net of the
interest which may be withdrawn to pay taxes, and our sponsors assert that it is unable to satisfy its obligations or that it
has no indemnification obligations related to a particular claim, our independent directors would determine whether to take legal
action against our sponsors to enforce its indemnification obligations. While we currently expect that our independent directors
would take legal action on our behalf against our sponsors to enforce its indemnification obligations to us, it is possible that
our independent directors in exercising their business judgment may choose not to do so in any particular instance. If our independent
directors choose not to enforce these indemnification obligations, the amount of funds in the trust account available for distribution
to our public stockholders may be reduced below $10.00 per share.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">If,
after we distribute the proceeds in the trust account to our public stockholders, we file a bankruptcy petition or an involuntary
bankruptcy petition is filed against us that is not dismissed, a bankruptcy court may seek to recover such proceeds, and the members
of our board of directors may be viewed as having breached their fiduciary duties to our creditors, thereby exposing the members
of our board of directors and us to claims of punitive damages.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If,
after we distribute the proceeds in the trust account to our public stockholders, we file a bankruptcy petition or an involuntary
bankruptcy petition is filed against us that is not dismissed, any distributions received by stockholders could be viewed under
applicable debtor/creditor and/or bankruptcy laws as either a &ldquo;preferential transfer&rdquo; or a &ldquo;fraudulent conveyance.&rdquo;
As a result, a bankruptcy court could seek to recover all amounts received by our stockholders. In addition, our board of directors
may be viewed as having breached its fiduciary duty to our creditors and/or having acted in bad faith, thereby exposing itself
and us to claims of punitive damages, by paying public stockholders from the trust account prior to addressing the claims of creditors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">If,
before distributing the proceeds in the trust account to our public stockholders, we file a bankruptcy petition or an involuntary
bankruptcy petition is filed against us that is not dismissed, the claims of creditors in such proceeding may have priority over
the claims of our stockholders and the&nbsp;per-share&nbsp;amount that would otherwise be received by our stockholders in connection
with our liquidation may be reduced.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If,
before distributing the proceeds in the trust account to our public stockholders, we file a bankruptcy petition or an involuntary
bankruptcy petition is filed against us that is not dismissed, the proceeds held in the trust account could be subject to applicable
bankruptcy law, and may be included in our bankruptcy estate and subject to the claims of third parties with priority over the
claims of our stockholders. To the extent any bankruptcy claims deplete the trust account, the&nbsp;per-share&nbsp;amount that
would otherwise be received by our stockholders in connection with our liquidation may be reduced.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
stockholders may be held liable for claims by third parties against us to the extent of distributions received by them upon redemption
of their shares.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Under
the DGCL, stockholders may be held liable for claims by third parties against a corporation to the extent of distributions received
by them in a dissolution. The pro rata portion of our trust account distributed to our public stockholders upon the redemption
of our public shares in the event we do not complete our initial business combination within 18 months from the closing of this
offering (or up to 24 months from the closing of this offering if we extend the period of time to consummate a business combination,
as described in more detail in this prospectus) may be considered a liquidation distribution under Delaware law. If a corporation
complies with certain procedures set forth in Section&nbsp;280 of the DGCL intended to ensure that it makes reasonable provision
for all claims against it, including a&nbsp;60-day&nbsp;notice period during which any third-party claims can be brought against
the corporation, a&nbsp;90-day&nbsp;period during which the corporation may reject any claims brought, and an additional&nbsp;150-day&nbsp;waiting
period before any liquidating distributions are made to stockholders, any liability of stockholders with respect to a liquidating
distribution is limited to the lesser of such stockholder&rsquo;s pro rata share of the claim or the amount distributed to the
stockholder, and any liability of the stockholder would be barred after the third anniversary of the dissolution. However, it
is our intention to redeem our public shares as soon as reasonably possible following the 18th month (or up to the 24th month
if we extend the period of time to consummate a business combination, as described in more detail in this prospectus) from the
closing of this offering in the event we do not complete our business combination and, therefore, we do not intend to comply with
those procedures.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Because
we will not be complying with Section&nbsp;280, Section&nbsp;281(b) of the DGCL requires us to adopt a plan, based on facts known
to us at such time that will provide for our payment of all existing and pending claims or claims that may be potentially brought
against us within the 10 years following our dissolution. However, because we are a blank check company, rather than an operating
company, and our operations will be limited to searching for prospective target businesses to acquire, the only likely claims
to arise would be from our vendors (such as lawyers, investment bankers, etc.) or prospective target businesses. If our plan of
distribution complies with Section&nbsp;281(b) of the DGCL, any liability of stockholders with respect to a liquidating distribution
is limited to the lesser of such stockholder&rsquo;s pro rata share of the claim or the amount distributed to the stockholder,
and any liability of the stockholder would likely be barred after the third anniversary of the dissolution. We cannot assure you
that we will properly assess all claims that may be potentially brought against us. As such, our stockholders could potentially
be liable for any claims to the extent of distributions received by them (but no more) and any liability of our stockholders may
extend beyond the third anniversary of such date. Furthermore, if the pro rata portion of our trust account distributed to our
public stockholders upon the redemption of our public shares in the event we do not complete our initial business combination
within 18 months (or up to 24 months from the closing of this offering if we extend the period of time to consummate a business
combination, as described in more detail in this prospectus) from the closing of this offering is not considered a liquidation
distribution under Delaware law and such redemption distribution is deemed to be unlawful (potentially due to the imposition of
legal proceedings that a party may bring or due to other circumstances that are currently unknown), then pursuant to Section&nbsp;174
of the DGCL, the statute of limitations for claims of creditors could then be six years after the unlawful redemption distribution,
instead of three years, as in the case of a liquidation distribution.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
may not hold an annual meeting of stockholders until after our consummation of a business combination and you will not be entitled
to any of the corporate protections provided by such a meeting.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
accordance with the Nasdaq 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 Nasdaq. Under Section&nbsp;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 a company&rsquo;s 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&nbsp;211(b)
of the DGCL, which requires an annual meeting. Therefore, if our stockholders want us to hold an annual meeting prior to our consummation
of a 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&nbsp;211(c) of the DGCL.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
are not registering the shares of common stock issuable upon exercise of the warrants under the Securities Act or any state securities
laws at this time, and such registration may not be in place when an investor desires to exercise warrants, thus precluding such
investor from being able to exercise its warrants except on a cashless basis and potentially causing such warrants to expire worthless.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
are not registering the shares of common stock issuable upon exercise of the warrants under the Securities Act or any state securities
laws at this time. However, under the terms of the warrant agreement, we have agreed, as soon as practicable, but in no event
later than 30 business days after the closing of our initial business combination, we will use our reasonable best efforts to
file, and within 90 business days after the closing of our initial business combination, to have declared effective, a registration
statement relating to the common stock issuable upon exercise of the warrants, and to maintain a current prospectus relating to
such shares of common stock until the expiration of the warrants in accordance with the provisions of the warrant agreement. We
cannot assure you that we will be able to do so if, for example, any facts or events arise which represent a fundamental change
in the information set forth in the registration statement or prospectus, the financial statements contained or incorporated by
reference therein are not current or correct or the SEC issues a stop order. If the shares issuable upon exercise of the warrants
are not registered under the Securities Act, we will be required to permit holders to exercise their warrants on a cashless basis.
However, no warrant will be exercisable for cash or on a cashless basis, and we will not be obligated to issue any shares to holders
seeking to exercise their warrants, unless the issuance of the shares upon such exercise is registered or qualified under the
securities laws of the state of the exercising holder or an exemption from registration is available. Notwithstanding the above,
if our common stock is at the time of any exercise of a warrant not listed on a national securities exchange such that it satisfies
the definition of a &ldquo;covered security&rdquo; under Section&nbsp;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 &ldquo;cashless basis&rdquo; in accordance with Section&nbsp;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 best efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is
not available. In no event will we be required to net cash settle any warrant, or issue securities or other compensation in exchange
for the warrants in the event that we are unable to register or qualify the shares underlying the warrants under applicable state
securities laws. If the issuance of the shares upon exercise of the warrants is not so registered or qualified or exempt from
registration or qualification, the holder of such warrant shall not be entitled to exercise such warrant and such warrant may
have no value and expire worthless. In such event, holders who acquired their warrants as part of a purchase of units will have
paid the full unit purchase price solely for the shares of common stock included in the units. We may not redeem the warrants
when a holder may not exercise such warrants. However, there may be instances in which holders of our public warrants may be unable
to exercise such public warrants but holders of our private warrants may be able to exercise such private warrants.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
grant of registration rights to our initial stockholders and holders of our private placement warrants may make it more difficult
to complete our initial business combination, and the future exercise of such rights may adversely affect the market price of
our common stock.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pursuant
to an agreement to be entered into concurrently with the issuance and sale of the securities in this offering, our initial stockholders
and their permitted transferees can demand that we register their shares of our common stock at the time of our initial business
combination. In addition, holders of our private placement warrants and their permitted transferees can demand that we register
the private placement warrants and the shares of common stock issuable upon exercise of the private placement warrants, and holders
of securities that may be issued upon conversion of working capital loans may demand that we register such warrants or the common
stock issuable upon exercise of such warrants. We will bear the cost of registering these securities. The registration and availability
of such a significant number of securities for trading in the public market may have an adverse effect on the market price of
our common stock. In addition, the existence of the registration rights may make our initial business combination more costly
or difficult to conclude. This is because the stockholders of the target business may increase the equity stake they seek in the
combined entity or ask for more cash consideration to offset the negative impact on the market price of our common stock that
is expected when the common stock owned by our initial stockholders, holders of our private placement warrants or holders of our
working capital loans or their respective permitted transferees are registered.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
may issue additional shares of common stock or preferred stock to complete our initial business combination or under an employee
incentive plan after completion of our initial business combination, and any such issuances would dilute the interest of our stockholders
and likely present other risks.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
amended and restated certificate of incorporation will authorize the issuance of up to 100,000,000 shares of common stock,
par value $0.01 per share, and 1,000,000 shares of undesignated preferred stock, par value $0.01 per share. Immediately
after this offering, there will be 87,250,000 (assuming that the underwriters have not exercised the underwriters&rsquo;
over-allotment option) authorized but unissued shares of common stock available for issuance, which amount takes into account
shares of common stock reserved for issuance upon exercise of outstanding warrants. Immediately after this offering, there will
be no shares of preferred stock issued and outstanding.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
may issue a substantial number of additional shares of common stock, and may issue shares of preferred stock, in order to complete
our initial business combination or under an employee incentive plan after completion of our initial business combination (although
our amended and restated certificate of incorporation will provide that we may not issue securities that can vote with common
stockholders on matters related to our&nbsp;pre-business&nbsp;combination activity). However, our amended and restated certificate
of incorporation will provide, among other things, that prior to our initial business combination, we may not issue additional
shares of capital stock that would entitle the holders thereof to (i)&nbsp;receive funds from the trust account or (ii)&nbsp;vote
on any initial business combination. These provisions of our amended and restated certificate of incorporation, like all provisions
of our amended and restated certificate of incorporation, may be amended with a stockholder vote. However, our sponsors, executive
officers and directors have agreed, pursuant to a written agreement with us, that they will not propose any amendment to our amended
and restated certificate of incorporation (A)&nbsp;to modify the substance or timing of our obligation to redeem 100% of our public
shares if we do not complete our initial business combination within 18 months from the closing of this offering or (B)&nbsp;with
respect to any other provision relating to stockholders&rsquo; rights or&nbsp;pre-business&nbsp;combination activity, unless we
provide our public stockholders with the opportunity to redeem their shares of common stock upon approval of any such amendment
at a&nbsp;per-share&nbsp;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. The issuance
of additional shares of common or preferred stock:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">may
                                         significantly dilute the equity interest of investors in this offering;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">may
                                         subordinate the rights of holders of common stock if preferred stock is issued with rights
                                         senior to those afforded our common stock;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">could
                                         cause a change in control if a substantial number of common stock is issued, which may
                                         affect, among other things, our ability to use our net operating loss carry forwards,
                                         if any, and could result in the resignation or removal of our present officers and directors;
                                         and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">may
                                         adversely affect prevailing market prices for our units, common stock and/or warrants.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
order to effectuate an initial business combination, blank check companies have, in the recent past, amended various provisions
of their charters and modified governing instruments. We cannot assure you that we will not seek to amend our amended and restated
certificate of incorporation or governing instruments in a manner that will make it easier for us to complete our initial business
combination that our stockholders may not support.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
order to effectuate a business combination, blank check companies have, in the recent past, amended various provisions of their
charters and modified governing instruments. For example, blank check companies have amended the definition of business combination,
increased redemption thresholds and extended the time period in which the company must consummate its initial business combination.
We cannot assure you that we will not seek to amend our charter or governing instruments in order to effectuate our initial business
combination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Certain
agreements related to this offering may be amended without stockholder approval.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Certain
agreements, including the underwriting agreement relating to this offering, the investment management trust agreement between
us and Continental Stock Transfer&nbsp;&amp; Trust Company, the letter agreements and the registration rights agreement among
us and our sponsors, executive officers and directors, the administrative services agreement between us and our sponsors, and
the business combination marketing agreement may be amended without stockholder approval. These agreements contain various provisions
that our public stockholders might deem to be material. While we do not expect our board of directors to approve any amendment
to any of these agreements prior to our initial business combination, it may be possible that our board of directors, in exercising
its business judgment and subject to its fiduciary duties, chooses to approve one or more amendments to any such agreement in
connection with the consummation of our initial business combination. Any such amendment may have an adverse effect on the value
of an investment in our securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
initial stockholders control a substantial interest in us and thus may exert a substantial influence on actions requiring a stockholder
vote, potentially in a manner that you do not support.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Upon
the closing of this offering, our initial stockholders will own 20.0% of our issued and outstanding shares of common stock (excluding
the Representative&rsquo;s shares and assuming they do not purchase units in this offering). Accordingly, they may exert a substantial
influence on actions requiring a stockholder vote, potentially in a manner that you do not support, including amendments to our
amended and restated certificate of incorporation and approval of major corporate transactions. If our initial stockholders purchase
any units in this offering or additional shares of common stock in the aftermarket or in privately negotiated transactions, this
would increase their influence.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
initial stockholders paid an aggregate of $28,750, or approximately $0.01 per founder share, and, accordingly, you will experience
immediate and substantial dilution from the purchase of our common stock.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
difference between the public offering price per share (allocating all of the unit purchase price to the common stock and none
to the warrant included in the unit) and the pro forma net tangible book value per share of our common stock after this offering
constitutes the dilution to you and the other investors in this offering. Our initial stockholders acquired the founder shares
at a nominal price, significantly contributing to this dilution. Upon the closing of this offering, and assuming no value is ascribed
to the warrants included in the units, you and the other public stockholders will incur an immediate and substantial dilution
of approximately 84.36% (or $8.44 per share, assuming no exercise of the underwriters&rsquo; over-allotment option),
the difference between the pro forma net tangible book value per share after this offering of $1.56 and the initial offering
price of $10.00 per unit.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
may amend the terms of the warrants in a manner that may be adverse to holders of public warrants with the approval by the holders
of at least 65% of the then outstanding public warrants.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
warrants will be issued in registered form under a warrant agreement between Continental Stock Transfer&nbsp;&amp; Trust Company,
as warrant agent, and us. The warrant agreement provides that the terms of the warrants may be amended without the consent of
any holder to cure any ambiguity or correct any defective provision, but requires the approval by the holders of at least 65%
of the then outstanding public warrants to make any change that adversely affects the interests of the registered holders of public
warrants. Accordingly, we may amend the terms of the public warrants in a manner adverse to a holder if holders of at least 65%
of the then outstanding public warrants approve of such amendment. Although our ability to amend the terms of the public warrants
with the consent of at least 65% of the then outstanding public warrants is unlimited, examples of such amendments could be amendments
to, among other things, increase the exercise price of the warrants, shorten the exercise period or decrease the number of shares
of our common stock purchasable upon exercise of a warrant.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
may redeem your unexpired warrants prior to their exercise at a time that is disadvantageous to you, thereby making your warrants
worthless.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
have the ability to redeem outstanding warrants at any time after they become exercisable and prior to their expiration, at a
price of $0.01 per warrant, provided that the last reported sales price of our common stock equals or exceeds $18.00 per share
for any 20 trading days within a 30&nbsp;trading-day&nbsp;period ending on the third trading day prior to the date we send the
notice of redemption to the warrant holders. We may not redeem the warrants when a holder may not exercise such warrants. Redemption
of the outstanding warrants could force you (i)&nbsp;to exercise your warrants and pay the exercise price therefor at a time when
it may be disadvantageous for you to do so, (ii)&nbsp;to sell your warrants at the then-current market price when you might otherwise
wish to hold your warrants or (iii)&nbsp;to accept the nominal redemption price which, at the time the outstanding warrants are
called for redemption, is likely to be substantially less than the market value of your warrants. None of the private placement
warrants will be redeemable by us so long as they are held by their initial purchasers or their permitted transferees.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
warrants may have an adverse effect on the market price of our common stock and make it more difficult to effectuate our initial
business combination.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
will be issuing warrants to purchase 5,000,000 shares of our common stock (or up to 5,750,000 shares of common stock if the underwriters&rsquo;
over-allotment option is exercised in full) as part of the units offered by this prospectus and, simultaneously with the closing
of this offering, we will be issuing an aggregate of 3,500,000 warrants (or 3,800,000 warrants if the underwriters&rsquo; over-allotment
option is exercised in full) at a price of $1.00&nbsp;per warrant in a private placement to our sponsors and&nbsp;I-Bankers.&nbsp;In
addition, if our initial stockholders make any working capital loans, up to $1,500,000 of such loans may be convertible, at the
option of the lender, into private placement warrants at a price of $1.00 per warrant of the post business combination entity.
To the extent we issue shares of common stock to effectuate a business combination, the potential for the issuance of a substantial
number of additional shares of common stock upon exercise of these warrants could make us a less attractive acquisition vehicle
to a target business. Such warrants, if and when exercised, would increase the number of issued and outstanding shares of our
common stock and reduce the value of the shares of common stock issued to complete the business combination. Therefore, our warrants
may make it more difficult to effectuate a business combination or increase the cost of acquiring the target business.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
determination of the offering price of our units and the size of this offering is more arbitrary than the pricing of securities
and size of an offering of an operating company in a particular industry. You may have less assurance, therefore, that the offering
price of our units properly reflects the value of such units than you would have in a typical offering of an operating company.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Prior
to this offering there has been no public market for any of our securities. The public offering price of the units and the terms
of the warrants were negotiated between us and the underwriters. In determining the size of this offering, management held customary
organizational meetings with representatives of the underwriters, both prior to our inception and thereafter, with respect to
the state of capital markets, generally, and the amount the underwriters believed they reasonably could raise on our behalf. Factors
considered in determining the size of this offering, prices and terms of the units, including the common stock and warrants underlying
the units, include:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                         history and prospects of companies whose principal business is the acquisition of other
                                         companies;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">prior
                                         offerings of those companies;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">our
                                         prospects for acquiring an operating business at attractive values;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">our
                                         capital structure;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">an
                                         assessment of our management and their experience in identifying operating companies;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">general
                                         conditions of the securities markets at the time of this offering; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">other
                                         factors as were deemed relevant.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Although
these factors were considered, the determination of our offering price is more arbitrary than the pricing of securities of an
operating company in a particular industry since we have no historical operations or financial results.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Provisions
in our amended and restated certificate of incorporation and Delaware law may inhibit a takeover of us, which could limit the
price investors might be willing to pay in the future for our common stock and could entrench management.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
amended and restated certificate of incorporation will contain provisions that may discourage unsolicited takeover proposals that
stockholders may consider to be in their best interests. These provisions include the ability of the board of directors to designate
the terms of and issue new series of preferred stock, which may make more difficult the removal of management and may discourage
transactions that otherwise could involve payment of a premium over prevailing market prices for our securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
are also subject to anti-takeover provisions under Delaware law, which could delay or prevent a change of control. Together these
provisions may make more difficult the removal of management and may discourage transactions that otherwise could involve payment
of a premium over prevailing market prices for our securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Provisions
in our amended and restated certificate of incorporation and Delaware law may have the effect of discouraging lawsuits against
our directors and officers.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
amended and restated certificate of incorporation will require, unless we consent in writing to the selection of an alternative
forum, that (i)&nbsp;any derivative action or proceeding brought on our behalf, (ii)&nbsp;any action asserting a claim of breach
of a fiduciary duty owed by any director, officer or other employee to us or our stockholders, (iii)&nbsp;any action asserting
a claim against us, our directors, officers or employees arising pursuant to any provision of the DGCL or our amended and restated
certificate of incorporation or bylaws, or (iv)&nbsp;any action asserting a claim against us, our directors, officers or employees
governed by the internal affairs doctrine may be brought only in the Court of Chancery in the State of Delaware, except any claim
(A)&nbsp;as to which the Court of Chancery of 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)&nbsp;for which the Court of Chancery does not have subject matter jurisdiction,
or (D)&nbsp;any action arising under the Securities Act, as to which the Court of Chancery and the federal district court for
the District of Delaware shall have concurrent 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&rsquo;s counsel. 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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Notwithstanding
the foregoing, our amended and restated certificate of incorporation will provide that the exclusive forum provision will not
apply to suits brought to enforce a duty or liability created by the Exchange Act or any other claim for which the federal courts
have exclusive jurisdiction. Section&nbsp;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. 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, the provision may have the effect of discouraging lawsuits against our directors and officers.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">General
Risks</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
are a newly formed company with no operating history and no revenues, and you have no basis on which to evaluate our ability to
achieve our business objective.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
are a newly formed company with no operating results, and we will not commence operations until obtaining funding through this
offering. Because we lack an operating history, you have no basis upon which to evaluate our ability to achieve our business objective
of completing our initial business combination with one or more target businesses. We have no plans, arrangements or understandings
with any prospective target business concerning a business combination and may be unable to complete our initial business combination.
If we fail to complete our initial business combination, we will never generate any operating revenues.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
we are deemed to be an investment company under the Investment Company Act, we may be required to institute burdensome compliance
requirements and our activities may be restricted, which may make it difficult for us to complete our business combination.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
we are deemed to be an investment company under the Investment Company Act, our activities may be restricted, including, without
limitation, restrictions on the nature of our investments, and restrictions on the issuance of our securities, each of which may
make it difficult for us to complete our business combination. In addition, we may have imposed upon us burdensome requirements,
including, without limitation, registration as an investment company; adoption of a specific form of corporate structure; and
reporting, record keeping, voting, proxy and disclosure requirements and other rules and regulations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
order not to be regulated as an investment company under the Investment Company Act, unless we can qualify for an exclusion, we
must ensure that we are engaged primarily in a business other than investing, reinvesting or trading in securities and that our
activities do not include investing, reinvesting, owning, holding or trading &ldquo;investment securities&rdquo; constituting
more than 40% of our total assets (exclusive of U.S. government securities and cash items) on an unconsolidated basis. Our business
will be to identify and complete a business combination and thereafter to operate the post-transaction business or assets for
the long term. We do not plan to buy businesses or assets with a view to resale or profit from their resale. We do not plan to
buy unrelated businesses or assets or to be a passive investor.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
do not believe that our anticipated principal activities will subject us to the Investment Company Act. The proceeds held in the
trust account may be invested by the trustee only in United States government treasury bills with a maturity of 185 days or less
or in money market funds investing solely in United States Treasuries and meeting certain conditions under Rule&nbsp;2a-7&nbsp;under
the Investment Company Act. Because the investment of the proceeds will be restricted to these instruments, we believe we will
meet the requirements for the exemption provided in Rule&nbsp;3a-1&nbsp;promulgated under the Investment Company Act. If we were
deemed to be subject to the Investment Company Act, compliance with these additional regulatory burdens would require additional
expenses for which we have not allotted funds and may hinder our ability to consummate a business combination. If we are unable
to complete our initial business combination, our public stockholders may receive only approximately $10.00 per share on the liquidation
of our trust account and our warrants will expire worthless.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Changes
in laws or regulations, or a failure to comply with any laws and regulations, may adversely affect our business, investments and
results of operations.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
are subject to laws and regulations enacted by national, regional and local governments. In particular, we will be required to
comply with certain SEC and other legal requirements. Compliance with, and monitoring of, applicable laws and regulations may
be difficult, time consuming and costly. Those laws and regulations and their interpretation and application may also change from
time to time and those changes could have a material adverse effect on our business, investments and results of operations. In
addition, a failure to comply with applicable laws or regulations, as interpreted and applied, could have a material adverse effect
on our business and results of operations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">There
is currently no market for our securities and a market for our securities may not develop, which would adversely affect the liquidity
and price of our securities.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">There
is currently no market for our securities. Stockholders therefore have no access to information about prior market history on
which to base their investment decision. Following this offering, the price of our securities may vary significantly due to one
or more potential business combinations and general market or economic conditions. Furthermore, an active trading market for our
securities may never develop or, if developed, it may not be sustained. You may be unable to sell your securities unless a market
can be established and sustained.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
are an emerging growth company within the meaning of the Securities Act, and we intend to take advantage of certain exemptions
from disclosure requirements available to emerging growth companies, which could make our securities less attractive to investors
and may make it more difficult to compare our performance with other public companies.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
are an &ldquo;emerging growth company&rdquo; within the meaning of the Securities Act, as modified by the JOBS Act, and we intend
to take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that
are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements
of Section&nbsp;404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in our periodic
reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation
and stockholder approval of any golden parachute payments not previously approved. As a result, our stockholders may not have
access to certain information they may deem important. We could be an emerging growth company for up to five years, although circumstances
could cause us to lose that status earlier, including if the market value of our common stock held by&nbsp;non-affiliates&nbsp;exceeds
$700&nbsp;million as of any June&nbsp;30 before that time, in which case we would no longer be an emerging growth company as of
the following December 31. We cannot predict whether investors will find our securities less attractive because we will rely on
these exemptions. If some investors find our securities less attractive as a result of our reliance on these exemptions, the trading
prices of our securities may be lower than they otherwise would be, there may be a less active trading market for our securities
and the trading prices of our securities may be more volatile.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Further,
Section&nbsp;102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial
accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared
effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised
financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and
comply with the requirements that apply to&nbsp;non-emerging&nbsp;growth companies but any such an election to opt out is irrevocable.
We have elected not to opt out of such extended transition period which means that when a standard is issued or revised and it
has different application dates for public or private companies, we, as an emerging growth company, can adopt the new or revised
standard at the time private companies adopt the new or revised standard. This may make comparison of our financial statements
with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of
using the extended transition period difficult or impossible because of the potential differences in accounting standards used.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Compliance
obligations under the Sarbanes-Oxley Act may make it more difficult for us to effectuate our initial business combination, require
substantial financial and management resources, and increase the time and costs of completing an acquisition.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Section&nbsp;404
of the Sarbanes-Oxley Act requires that we evaluate and report on our system of internal controls beginning with our Annual Report
on Form&nbsp;10-K&nbsp;for the year ending December&nbsp;31, 2021. Only in the event we are deemed to be a large accelerated filer
or an accelerated filer will we be required to comply with the independent registered public accounting firm attestation requirement
on our internal control over financial reporting. Further, for as long as we remain an emerging growth company, we will not be
required to comply with the independent registered public accounting firm attestation requirement on our internal control over
financial reporting. The fact that we are a blank check company makes compliance with the requirements of the Sarbanes-Oxley Act
particularly burdensome on us as compared to other public companies because a target company with which we seek to complete our
initial business combination may not be in compliance with the provisions of the Sarbanes-Oxley Act regarding adequacy of its
internal controls. The development of the internal control of any such entity to achieve compliance with the Sarbanes-Oxley Act
may increase the time and costs necessary to complete any such acquisition.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="a_004"></A>CAUTIONARY
NOTE REGARDING FORWARD-LOOKING STATEMENTS</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Some
statements contained in this prospectus may constitute &ldquo;forward-looking statements&rdquo; for purposes of the federal securities
laws. Our forward-looking statements include, but are not limited to, statements regarding our or our management team&rsquo;s
expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections,
forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking
statements. The words &ldquo;anticipate,&rdquo; &ldquo;believe,&rdquo; &ldquo;continue,&rdquo; &ldquo;could,&rdquo; &ldquo;estimate,&rdquo;
&ldquo;expect,&rdquo; &ldquo;intends,&rdquo; &ldquo;may,&rdquo; &ldquo;might,&rdquo; &ldquo;plan,&rdquo; &ldquo;possible,&rdquo;
&ldquo;potential,&rdquo; &ldquo;predict,&rdquo; &ldquo;project,&rdquo; &ldquo;should,&rdquo; &ldquo;would&rdquo; and similar expressions
may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.
Forward-looking statements in this prospectus may include, for example, statements about:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">our
                                         ability to select an appropriate target business or businesses;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">our
                                         ability to complete our initial business combination;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">our
                                         expectations around the performance of the prospective target business or businesses;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">our
                                         success in retaining or recruiting, or changes required in, our officers, key employees
                                         or directors following our initial business combination;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">our
                                         officers and directors allocating their time to other businesses and potentially having
                                         conflicts of interest with our business or in approving our initial business combination,
                                         as a result of which they would then receive expense reimbursements;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">our
                                         potential ability to obtain additional financing to complete our initial business combination;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">our
                                         pool of prospective target businesses;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                         ability of our officers and directors to generate a number of potential acquisition opportunities;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">our
                                         public securities&rsquo; potential liquidity and trading;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                         lack of a market for our securities;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                         use of proceeds not held in the trust account or available to us from interest income
                                         on the trust account balance;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                         trust account not being subject to claims of third parties; or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">our
                                         financial performance following this offering.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
forward-looking statements contained in this prospectus are based on our current expectations and beliefs concerning future developments
and their potential effects on us. There can be no assurance that future developments affecting us will be those that we have
anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control)
or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by
these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described under
the heading &ldquo;Risk Factors.&rdquo; Should one or more of these risks or uncertainties materialize, or should any of our assumptions
prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake
no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise,
except as may be required under applicable securities laws.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="a_005"></A>USE
OF PROCEEDS</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
are offering 10,000,000 units at an offering price of $10.00 per unit. We estimate that the net proceeds of this offering together
with the funds we will receive from the sale of the private placement warrants will be used as set forth in the following table.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Without<BR>
    Over-Allotment<BR> Option</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Over-Allotment<BR>
    Option<BR> Exercised</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: italic 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Gross
    proceeds</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Gross
    proceeds from units offered to public<SUP>(1)</SUP></FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">100,000,000</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">115,000,000</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Gross
    proceeds from private placement warrants offered in the private placement</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">3,500,000</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">3,800,000</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
    gross proceeds</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">103,500,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">118,800,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Estimated
    Offering expenses</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Underwriting
    discounts and commissions<SUP>(2)</SUP></FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,000,000</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,300,000</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Legal
    fees and expenses</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">225,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">225,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Nasdaq
    listing and filing fees</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">75,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">75,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Underwriter&rsquo;s
    counsel and road show expenses</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">150,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">150,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Directors
    and officer&rsquo;s insurance</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">400,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">400,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Printing
    and EDGAR filing fees</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">40,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">40,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Accounting
    fees and expenses</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">40,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">40,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">FINRA
    filing fees</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">18,181</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">18,181</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">SEC
    registration fees</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">12,860</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">12,860</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Miscellaneous</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">38,959</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">38,959</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
    offering expenses (other than underwriting commissions)</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,000,000</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,000,000</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Proceeds
    after offering expenses</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">100,500,000</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">115,500,000</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Held
    in trust account</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">100,000,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">115,000,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">%
    of public offering size</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">100</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Not
    held in trust account</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">500,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">500,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
following table shows the use of the approximately $500,000 of net proceeds not held in the trust account.<SUP>(3)</SUP></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Amount</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">%&nbsp;of&nbsp;Total</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Legal,
    accounting, due diligence, travel, and other expenses in connection with any business combination</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">250,000</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">50.00</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Legal
    and accounting fees related to regulatory reporting obligations</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">60,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">12.00</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Payment
    for office space, administrative and support services</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">120,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">24.00</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Working
    capital to cover other miscellaneous expenses</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">70,000</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">14.00</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">500,000</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">100.0</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; width: 4%; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1)</FONT></TD>
    <TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Includes
    amounts payable to public stockholders who properly redeem their shares in connection with our successful completion of our
    initial business combination.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt">(2)</TD>
    <TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><P STYLE="margin: 0">Includes
                                         $1,000,000 that will be used by I-Bankers to acquire 1,000,000 warrants that  will be issued  to our sponsors in lieu of I-Bankers.</P>


</TD></TR>
</TABLE>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; width: 4%; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(3)</FONT></TD>
    <TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">These
    expenses are estimates only. Our actual expenditures for some or all of these items may differ from the estimates set forth
    herein. For example, we may incur greater legal and accounting expenses than our current estimates in connection with negotiating
    and structuring a business combination based upon the level of complexity of such business combination. In the event we identify
    an acquisition target in a specific industry subject to specific regulations, we may incur additional expenses associated
    with legal due diligence and the engagement of special legal counsel. In addition, our staffing needs may vary and, as a result,
    we may engage a number of consultants to assist with legal and financial due diligence. We do not anticipate any change in
    our intended use of proceeds, other than fluctuations among the current categories of allocated expenses, which fluctuations,
    to the extent they exceed current estimates for any specific category of expenses, would not be available for other expenses.
    In addition, in order to finance transaction costs in connection with an intended initial business combination, our initial
    stockholders or an affiliate of our initial stockholders or certain of our officers and directors may, but are not obligated
    to, loan us funds as may be required. If we complete our initial business combination, we would repay such loaned amounts
    out of the proceeds of the trust account released to us. Otherwise, such loans would be repaid only out of funds held outside
    the trust account. In the event that our initial business combination does not close, we may use a portion of the working
    capital held outside the trust account to repay such loaned amounts but no proceeds from our trust account would be used to
    repay such loaned amounts. The terms of such loans, if any, have not been determined and no written agreements exist with
    respect to such loans.</FONT></TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
rules of Nasdaq provide that at least 90% of the gross proceeds from this offering and the private placement be deposited in a
trust account. Of the net proceeds of this offering and the sale of the private placement warrants, $100,000,000 (or $115,000,000
if the underwriters&rsquo; over-allotment option is exercised in full) will be placed in a trust account with Continental Stock
Transfer&nbsp;&amp; Trust Company acting as trustee and will be invested only in U.S. government treasury bills with a maturity
of 185 days or less or in money market funds meeting certain conditions under Rule&nbsp;2a-7&nbsp;under the Investment Company
Act which invest only in direct U.S. government treasury obligations. Based on current interest rates, and assuming no exercise
of the over-allotment option, we estimate that the interest earned on the trust account will be approximately $60,000 per year,
assuming an interest rate of 0.06% per year; however, we can provide no assurances regarding this amount. We will not be permitted
to withdraw any of the principal or interest held in the trust account, except with respect to interest earned on the funds held
in the trust account that may be released to us to pay our taxes, if any. The proceeds from this offering will not be released
from the trust account until the earliest of (i)&nbsp;the completion of our initial business combination, (ii)&nbsp;the redemption
of any public shares properly tendered in connection with a stockholder vote to amend our amended and restated certificate of
incorporation (A)&nbsp;to modify the substance or timing of our obligation to redeem 100% of our public shares if we do not complete
our initial business combination within 18 months (or up to 24 months from the closing of this offering if we extend the period
of time to consummate a business combination, as described in more detail in this prospectus)from the closing of this offering
or (B)&nbsp;with respect to any other provision relating to stockholders&rsquo; rights or&nbsp;pre-business&nbsp;combination activity,
and (iii)&nbsp;the redemption of all of our public shares if we are unable to complete our business combination within 18 months
(or up to 24 months from the closing of this offering if we extend the period of time to consummate a business combination, as
described in more detail in this prospectus)from the closing of this offering, subject to applicable law. Based on current interest
rates, interest earned on the trust account may not be sufficient to pay taxes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
net proceeds held in the trust account may be used as consideration to pay the sellers of a target business with which we ultimately
complete our initial business combination. If our initial business combination is paid for using equity or debt securities, or
not all of the funds released from the trust account are used for payment of the consideration in connection with our initial
business combination, we may apply the balance of the cash released from the trust account for general corporate purposes, including
for maintenance or expansion of operations of the post-transaction company, the payment of principal or interest due on indebtedness
incurred in completing our initial business combination, to fund the purchase of other companies or for working capital.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
believe that amounts not held in trust will be sufficient to pay the costs and expenses to which such proceeds are allocated.
This belief is based on the fact that while we may begin preliminary due diligence of a target business in connection with an
indication of interest, we intend to undertake&nbsp;in-depth&nbsp;due diligence, depending on the circumstances of the relevant
prospective acquisition, only after we have negotiated and signed a letter of intent or other preliminary agreement that addresses
the terms of a business combination. However, if our estimate of the costs of undertaking&nbsp;in-depth&nbsp;due diligence and
negotiating a business combination is less than the actual amount necessary to do so, we may be required to raise additional capital,
the amount, availability and cost of which is currently unascertainable. If we are required to seek additional capital, we could
seek such additional capital through loans or additional investments from our initial stockholders, members of our management
team or their affiliates, but such persons are not under any obligation to advance funds to, or invest in, us.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
will enter into an Administrative Services Agreement pursuant to which we will pay (commencing on the effective date of this registration
statement) an affiliate of one of our officers a total of $5,000 per month. We believe these types of arrangements are customary
among many SPACs. Upon completion of our initial business combination or our liquidation, we will cease paying these monthly fees.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Prior
to the closing of this offering, our sponsors have agreed to loan us up to $300,000, in the form of a promissory note,
to be used for a portion of the expenses of this offering. Separately, as of February 9, 2021, we have borrowed $27,963 from our
sponsors as related party loans. The loans and promissory note are non-interest bearing and unsecured. The promissory
note is due at the earlier of June 30, 2021 or the successful closing of this offering. The related party loans are due for repayment
within six months of January 29, 2021 in cash or issuance of shares and/or warrants of equivalent value. The promissory note would
be forgiven if the offering does not close. The cash available for repayment of the loans and note would be from the $500,000
of offering proceeds that has been allocated to the payment of offering expenses. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
addition, in order to finance transaction costs in connection with an intended initial business combination, our initial stockholders
or an affiliate of our initial stockholders or certain of our officers and directors may, but are not obligated to, loan us funds
as may be required. If we complete our initial business combination, we would repay such loaned amounts out of the proceeds of
the trust account released to us. Otherwise, such loans would be repaid only out of funds held outside the trust account. In the
event that our initial business combination does not close, we may use a portion of the working capital held outside the trust
account to repay such loaned amounts but no proceeds from our trust account would be used to repay such loaned amounts. Up to
$1,500,000 of such loans may be convertible, at the option of the lender, into warrants at a price of $1.00 per warrant
of the post business combination entity. The warrants would be identical to the private placement warrants, including as to exercise
price, exercisability and exercise period. The terms of such loans by our initial stockholders, officers and directors, if any,
have not been determined and no written agreements exist with respect to such loans. We do not expect to seek loans from parties
other than our initial stockholders or an affiliate of our initial stockholders as we do not believe third parties will be willing
to loan such funds and provide a waiver against any and all rights to seek access to funds in our trust account.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="a_006"></A>DIVIDEND
POLICY</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
have not paid any cash dividends on our common stock to date and do not intend to pay cash dividends prior to the completion of
our initial business combination. The payment of cash dividends in the future will be dependent upon our revenues and earnings,
if any, capital requirements and general financial condition subsequent to completion of our initial business combination. The
payment of any cash dividends subsequent to our initial business combination will be within the discretion of our board of directors
at such time. In addition, our board of directors is not currently contemplating and does not anticipate declaring any stock dividends
in the foreseeable future, except if we increase the size of the offering, in which case we will effect a stock dividend or other
appropriate mechanism immediately prior to the consummation of the offering in an amount as to maintain the ownership of our initial
stockholders prior to this offering at 20.0% of our issued and outstanding shares of common stock upon the consummation of this
offering (excluding the Representative&rsquo;s shares). Further, if we incur any indebtedness in connection with our business
combination, our ability to declare dividends may be limited by restrictive covenants we may agree to in connection therewith.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="a_007"></A>DILUTION</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
difference between the public offering price per share of common stock, assuming no value is attributed to the warrants included
in the units we are offering pursuant to this prospectus, and the pro forma net tangible book value per share of our common stock
after this offering constitutes the dilution to investors in this offering. Such calculation does not reflect any dilution associated
with the exercise of warrants, including the private placement warrants, which would cause the actual dilution to the public stockholders
to be higher, particularly where a cashless exercise is utilized. Net tangible book value per share is determined by dividing
our net tangible book value, which is our total tangible assets less total liabilities (including the value of common stock which
may be redeemed for cash), by the number of outstanding shares of our common stock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">At
February 9, 2021, our net tangible book deficit was $15,576, or approximately $(0.006) per share of common stock. After giving
effect to the sale of 10,000,000 shares of common stock included in the units we are offering by this prospectus and the sale
of the private placement warrants, and the deduction of underwriting commissions and estimated expenses of this offering, our
pro forma net tangible book value at February 9, 2021 would have been $5,000,007 or $1.56 per share (or $1.39 per
share, if the underwriters&rsquo; over-allotment option is exercised in full), representing an immediate increase in net tangible
book value of $1.57 per share (or $1.39 if the over-allotment option is exercised in full) to our initial stockholders
as of the date of this prospectus. For purposes of presentation, we have reduced our pro forma net tangible book value after this
offering (assuming no exercise of the underwriters&rsquo; over-allotment option) by $95,531,160 (or $110,531,535
assuming full exercise of the over-allotment option) because holders of up to approximately 95.53% of our public shares
(or 96.11% assuming full exercise of the over-allotment option) may redeem their shares for a pro rata share of the aggregate
amount then on deposit in the trust account at a&nbsp;per-share&nbsp;redemption price equal to the amount in the trust account
as set forth in our tender offer or proxy materials (initially anticipated to be the aggregate amount held in trust two days prior
to the commencement of our tender offer or stockholders meeting, including interest (which interest shall be net of taxes payable)
divided by the number of shares of common stock sold in this offering).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
following table illustrates the dilution to the public stockholders on a&nbsp;per-share&nbsp;basis, assuming no value is attributed
to the warrants included in the units:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Without<BR>
    Over-allotment</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">With<BR>
    Over-allotment</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 76%; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Public
    offering price</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.00</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.00</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net
    tangible book value before this offering</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(0.006</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(0.005</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Increase
    attributable to public shares and private placement warrants</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.570</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.390</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pro
    forma net tangible book value after this offering and the sale of the private placement warrants</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.564</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.385</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 1pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 1pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 1pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 1pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 1pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 1pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dilution
    to public stockholders</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">8.436</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">8.615</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1.5pt; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 0.75pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 0.75pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 0.75pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 0.75pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 0.75pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 0.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 0.75pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Percentage
    of dilution to new investors</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">84.36</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">86.15</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
following table sets forth information with respect to our initial stockholders and the public stockholders:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Shares
    Purchased</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
    Consideration</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Average<BR>
    Price&nbsp;per</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Number</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Percentage</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Amount</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Percentage</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Share</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 40%; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Initial
    stockholders<SUP>(1)</SUP></FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,500,000</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">19.61</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">28,750</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">0.03</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">0.01</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Representative shares</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">250,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.96</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,500</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">0.00</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">0.01</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Public
    stockholders</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">10,000,000</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">78.43</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">100,000,000</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">99.97</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.00</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">12,750,000</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">100.00</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">100,031,250</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">100.00</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">%</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; width: 4%; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;(1)</FONT></TD>
    <TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Assumes
    the full forfeiture of 375,000 shares that are subject to forfeiture by our sponsors depending on the extent to which the
    underwriters&rsquo; over-allotment option is exercised.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
pro forma net tangible book value per share after the offering is calculated as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Without<BR>
    Over-allotment</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">With<BR>
    Over-allotment</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">Numerator:</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 76%; text-align: left; text-indent: 0pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net
    tangible book value before this offering</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(15,576</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(15,576</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net
    proceeds from this offering and private placements</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">100,500,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">115,500,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net
    proceeds from representative shares</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,500</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,875</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Plus:
    Offering costs paid in advance, excluded from tangible book value</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">44,243</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">44,243</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt; text-indent: 0pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Less:
    Proceeds held in trust subject to conversion/tender</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(95,531,160</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(110,531,535</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1.5pt; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">5,000,007</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">5,000,007</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Denominator:</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Shares
    of common stock outstanding prior to this offering</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,875,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,875,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Shares
    of common stock forfeited if over-allotment option is not exercised</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(375,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Shares
    of common stock included in the units offered</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">10,000,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">11,500,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Representative
    shares</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">250,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">287,500</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt; text-indent: 0pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Less:
    shares subject to redemption</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(9,552,891</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(11,052,895</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">3,197,109</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">3,609,605</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="a_008"></A>CAPITALIZATION</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
following table sets forth our capitalization at February 9, 2021, and as adjusted to give effect to the sale of 10,000,000 units
in this offering for $100,000,000 (or $10.00 per unit) and the sale of 3,500,000 private placement warrants for $3,500,000 (or
$1.00 per private placement warrants) and the application of the estimated net proceeds (excluding net working capital of $500,000
not held in the trust account) derived from the sale of such securities:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">February
    9, 2021</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Actual</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>As
    Adjusted<SUP>(1)</SUP></B></FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Loan
    </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">payable to related party<SUP>(2)</SUP></FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">27,963</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&mdash;</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Common
    stock subject to possible redemption,&nbsp;-0-&nbsp;shares actual and 9,552,891 shares as adjusted<SUP>(3)</SUP></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">95,528,910</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Stockholders&rsquo;
    equity:</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Preferred
    stock, $0.01 par value, shares authorized 0 (actual), 1,000,000 shares (as adjusted); no shares issued&nbsp;or
    outstanding (actual and as adjusted)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&mdash;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Common
    Stock. $0.01par value, shares authorized 10,000,000 (actual), 100,000,000 shares (as&nbsp;adjusted); 2,875,000 shares
    issued and outstanding (actual); 12,750,000 shares issued and outstanding (as adjusted)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">28,750</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">127,500</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Additional&nbsp;paid-in&nbsp;capital</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">4,872,590</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Accumulated
    deficit</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(83</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(83</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
    stockholders&rsquo; equity</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">28,667</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">5,000,007</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
    capitalization</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">56,630</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">100,528,917</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="width: 96%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assumes the full forfeiture
    of 375,000 shares that are subject to forfeiture by our sponsors depending on the extent to which the underwriters&rsquo;
    over-allotment option is exercised. The proceeds of the sale of such shares will not be deposited into the trust account,
    the shares will not be eligible for redemption from the trust account nor will they be eligible to vote upon the initial business
    combination.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Represents borrowings from our sponsor. In addition,
    an affiliate of our sponsors may loan us up to an aggregate of $300,000 under an unsecured promissory note to be used for
    a portion of the expenses of this offering. The loans and promissory note are non-interest bearing. The loan is due to
    be repaid within six months of January 29, 2021. The promissory note is due at either the earlier of June 30, 2021 or the
    closing of this offering. This would be forgiven if the offering was abandoned. Subsequent to February 9, 2021, we have
    drawn $19,965 under the $300,000 promissory note.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon the completion of our initial business
    combination, we will provide our public 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 as of two business days prior to the consummation
    of the initial business combination, including interest (which interest shall be net of taxes payable) subject to the limitations
    described herein whereby our net tangible assets will be maintained at a minimum of $5,000,001 either immediately before or
    after the consummation of our initial business combination and any limitations (including, but not limited to, cash requirements)
    created by the terms of the proposed business combination.</FONT></TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="a_009"></A>MANAGEMENT&rsquo;S
DISCUSSION AND ANALYSIS OF<BR>
FINANCIAL CONDITION AND RESULTS OF OPERATIONS</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Overview</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 24.5pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
are a blank check company incorporated on January 21, 2021 as a Delaware corporation and formed for the purpose of effecting a
merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or
more businesses. We have not selected any specific business combination target and we have not, nor has anyone on our behalf,
engaged in any substantive discussions directly or indirectly, with any business combination target with respect to an initial
business combination with us. While our efforts in identifying a prospective target business for our initial business combination
will not be limited to a particular industry or geographic region, we intend to initially focus our search on identifying a prospective
target business in the healthcare industry. We intend to effectuate our initial business combination using cash from the proceeds
of this offering, shares issued to the owners of the target, debt issued to bank or other lenders or the owners of the target,
additional equity raised through a public or private offering, or a combination of the foregoing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 24.5pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 24.5pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
issuance of additional shares in connection with a business combination to the owners of the target or other investors:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 24.5pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">may
                                         significantly dilute the equity interest of investors in this offering;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">may
                                         subordinate the rights of holders of common stock if shares of preferred stock are issued
                                         with rights senior to those of our common stock;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">could
                                         cause a change in control if a substantial number of shares of our common stock are issued,
                                         which may affect, among other things, our ability to use our net operating loss carry
                                         forwards, if any, and could result in the resignation or removal of our present officers
                                         and directors;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">may
                                         have the effect of delaying or preventing a change of control of us by diluting the share
                                         ownership or voting rights of a person seeking to obtain control of us; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">may
                                         adversely affect prevailing market prices for our common stock and/or warrants.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Similarly,
if we issue debt securities or otherwise incur significant debt to bank or other lenders or the owners of a target, it could result
in:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">default
                                         and foreclosure on our assets if our operating revenues after an initial business combination
                                         are insufficient to repay our debt obligations;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">acceleration
                                         of our obligations to repay the indebtedness even if we make all principal and interest
                                         payments when due if we breach certain covenants that require the maintenance of certain
                                         financial ratios or reserves without a waiver or renegotiation of that covenant;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">our
                                         immediate payment of all principal and accrued interest, if any, if the debt is payable
                                         on demand;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">our
                                         inability to obtain necessary additional financing if the debt contains covenants restricting
                                         our ability to obtain such financing while the debt is outstanding;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">our
                                         inability to pay dividends on our common stock;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">using
                                         a substantial portion of our cash flow to pay principal and interest on our debt, which
                                         will reduce the funds available for dividends on common stock if declared, expenses,
                                         capital expenditures, acquisitions and other general corporate purposes;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">limitations
                                         on our flexibility in planning for and reacting to changes in our business and in the
                                         industry in which we operate;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">increased
                                         vulnerability to adverse changes in general economic, industry and competitive conditions
                                         and adverse changes in government regulation; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">limitations
                                         on our ability to borrow additional amounts for expenses, capital expenditures, acquisitions,
                                         debt service requirements, execution of our strategy and other purposes and other disadvantages
                                         compared to our competitors who have less debt.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
indicated in the accompanying financial statements, at February 9, 2021, we had deferred offering costs of $44,243. Further, we
expect to incur significant additional offering costs and costs in the pursuit of our initial business combination. We cannot
assure you that our plans to raise capital or to complete our initial business combination will be successful.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Results
of Operations and Known Trends or Future Events</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
have neither engaged in any operations nor generated any revenues to date. Our only activities since inception have been organizational
activities and those necessary to prepare for this offering. Following this offering, we will not generate any operating revenues
until after completion of our initial business combination. We will generate&nbsp;non-operating&nbsp;income in the form of interest
income on cash and cash equivalents after this offering. There has been no significant change in our financial or trading position
and no material adverse change has occurred since the date of our audited financial statements. After this offering, we expect
to incur increased expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance),
as well as for due diligence expenses. We expect our expenses to increase substantially after the closing of this offering.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Liquidity
and Capital Resources</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
liquidity needs have been satisfied  through the payment by our initial stockholders of
$28,750 to cover certain of our offering costs in exchange for the issuance of certain of the founder shares to our initial stockholders
and up to $300,000 in loans available from our sponsors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
estimate that the net proceeds from the sales of the units in this offering and the private placement warrants, after deducting
offering expenses of approximately $500,000 and underwriting discounts and commissions of $2,000,000 (excluding potential business
combination marketing fees payable to&nbsp;I-Bankers&nbsp;of $2,750,000 or $3,162,500 if the over-allotment option is exercised
in full) will be $100,500,000. $100,000,000 will be held in the trust account, which includes funds for the business combination
marketing fees described above. If the underwriters&rsquo; over-allotment option is exercised in full, we estimate that the net
proceeds from the sales of the units in this offering and the private placement warrants, after deducting offering expenses of
approximately $500,000 and underwriting discounts and commissions of $2,300,000 (excluding the potential business combination
marketing fees payable to&nbsp;I-Bankers&nbsp;of $3,162,500), will be $115,750,000. $115,000,000 will be held in the trust account,
which includes the funds for potential business combination marketing fees described above. The proceeds held in the trust account
will be invested only in U.S. government treasury obligations with a maturity of 185 days or less or in money market funds meeting
certain conditions under Rule&nbsp;2a-7&nbsp;under the Investment Company Act which invest only in direct U.S. government treasury
obligations. The remaining approximately $500,000 will not be held in the trust account. In the event that our offering expenses
exceed our estimate of $500,000, we may fund such excess with funds not to be held in the trust account. In such case, the amount
of funds we intend to be held outside the trust account would decrease by a corresponding amount. Conversely, in the event that
the offering expenses are less than our estimate of $500,000, the amount of funds we intend to be held outside the trust account
would increase by a corresponding amount.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
intend to use substantially all of the funds held in the trust account, including any amounts representing interest earned on
the trust account (excluding the business combination marketing fees payable to&nbsp;I-Bankers)&nbsp;to complete our initial business
combination. We may withdraw interest to pay our taxes and liquidation expenses if we are unsuccessful in completing a business
acquisition. We estimate our annual franchise tax obligations, based on the number of shares of our common stock authorized and
outstanding after the completion of this offering, to be $200,000, which is the maximum amount of annual franchise taxes payable
by us as a Delaware corporation per annum, which we may pay from funds from this offering held outside of the trust account or
from interest earned on the funds held in the trust account and released to us for this purpose. Our annual income tax obligations
will depend on the amount of interest and other income earned on the amounts held in the trust account reduced by our operating
expense and franchise taxes. We expect the interest earned on the amount in the trust account will be sufficient to pay our income
taxes. To the extent that our equity or debt is used, in whole or in part, as consideration to complete our initial business combination,
the remaining proceeds held in the trust account will be used as working capital to finance the operations of the target business
or businesses, make other acquisitions and pursue our growth strategies.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Prior
to the completion of our initial business combination, we will have available to us the approximately $500,000 of proceeds held
outside the trust account. We will use these funds primarily to pay expenses associated with being a public company and to identify
and evaluate target businesses, perform business due diligence on prospective target businesses, travel to and from the offices,
plants or similar locations of prospective target businesses or their representatives or owners, review corporate documents and
material agreements of prospective target businesses, and structure, negotiate and complete a business combination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
do not believe we will need to raise additional funds following this offering in order to meet the expenditures required for operating
our business prior to our initial business combination. However, if our estimates of the costs of identifying a target business,
undertaking&nbsp;in-depth&nbsp;due diligence and negotiating an initial business combination are less than the actual amount necessary
to do so, we may have insufficient funds available to operate our business prior to our initial business combination. In order
to fund working capital deficiencies or finance transaction costs in connection with an intended initial business combination,
our initial stockholders or one of its affiliates or certain of our officers and directors may, but are not obligated to, loan
us funds as may be required. If we complete our initial business combination, we would repay such loaned amounts (subject to the
conversion rights described below). In the event that our initial business combination does not close, we may use a portion of
the working capital held outside the trust account to repay such loaned amounts but no proceeds from our trust account would be
used for such repayment. Up to $1,500,000 of such loans may at the option of the lender determined at the time of the loan be
convertible into private placement warrants at a price of $1.00 per warrant of the post business combination entity. The warrants
would be identical to the private placement warrants, including as to exercise price, exercisability and exercise period. The
terms of such loans, if any, have not been determined and no written agreements exist with respect to such loans. Prior to the
completion of our initial business combination, we do not expect to seek loans from parties other than our initial stockholders
or their affiliates as we do not believe third parties will be willing to loan such funds and provide a waiver against any and
all rights to seek access to funds in our trust account.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
expect our primary liquidity requirements during the period after this offering and prior to our initial business combination
to include approximately $250,000 for legal, accounting, due diligence, travel and other expenses associated with structuring,
negotiating and documenting successful business combinations; $60,000 for legal and accounting fees related to regulatory reporting
requirements; $240,000 for office space, secretarial and administrative services; and approximately $200,000 for general working
capital that will be used for miscellaneous expenses and reserves.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">These
amounts are estimates and may differ materially from our actual expenses. In addition, we could use a portion of the funds not
being placed in trust to pay commitment fees for financing, fees to consultants to assist us with our search for a target business
or as a down payment or to fund a&nbsp;&ldquo;no-shop&rdquo;&nbsp;provision (a provision designed to keep target businesses from
&ldquo;shopping&rdquo; around for transactions with other companies or investors on terms more favorable to such target businesses)
with respect to a particular proposed business combination, although we do not have any current intention to do so. If we entered
into an agreement where we paid for the right to receive exclusivity from a target business, the amount that would be used as
a down payment or to fund a&nbsp;&ldquo;no-shop&rdquo;&nbsp;provision would be determined based on the terms of the specific business
combination and the amount of our available funds at the time. Our forfeiture of such funds (whether as a result of our breach
or otherwise) could result in our not having sufficient funds to continue searching for, or conducting due diligence with respect
to, prospective target businesses.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Moreover,
we may need to obtain additional financing to complete our initial business combination, either because the transaction requires
more cash than is available from the proceeds held in our trust account or because we become obligated to redeem a significant
number of our public shares upon completion of the business combination, in which case we may issue additional securities or incur
debt in connection with such business combination. In addition, we intend to target businesses with enterprise values that are
greater than we could acquire with the net proceeds of this offering and the sale of the private placement warrants, and, as a
result, if the cash portion of the purchase price exceeds the amount available from the trust account, net of amounts needed to
satisfy any redemptions by public stockholders, we may be required to seek additional financing to complete such proposed initial
business combination. We may also obtain financing prior to the closing of our initial business combination to fund our working
capital needs and transaction costs in connection with our search for and completion of our initial business combination. There
is no limitation on our ability to raise funds through the issuance of equity or equity-linked securities or through loans, advances
or other indebtedness in connection with our initial business combination, including pursuant to forward purchase agreements or
backstop agreements we may enter into following consummation of this offering. Subject to compliance with applicable securities
laws, we would only complete such financing simultaneously with the completion of our initial business combination. If we are
unable to complete our initial business combination because we do not have sufficient funds available to us, we will be forced
to cease operations and liquidate the trust account. In addition, following our initial business combination, if cash on hand
is insufficient, we may need to obtain additional financing in order to meet our obligations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Controls
and Procedures</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
will be required to comply with the internal control requirements of the Sarbanes-Oxley Act for the fiscal year ending December&nbsp;31,
2021. Only in the event that we are deemed to be a large accelerated filer or an accelerated filer and no longer an emerging growth
company would we be required to comply with the independent registered public accounting firm attestation requirement. Further,
for as long as we remain an emerging growth company as defined in the JOBS Act, we intend to take advantage of certain exemptions
from various reporting requirements that are applicable to other public companies that are not emerging growth companies including,
but not limited to, not being required to comply with the independent registered public accounting firm attestation requirement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Prior
to the closing of this offering, we have not completed an assessment, nor has our independent registered public accounting firm
tested our systems, of internal controls. We expect to assess the internal controls of our target business or businesses prior
to the completion of our initial business combination and, if necessary, to implement and test additional controls as we may determine
are necessary in order to state that we maintain an effective system of internal controls. A target business may not be in compliance
with the provisions of the Sarbanes-Oxley Act regarding the adequacy of internal controls. Many small and&nbsp;mid-sized&nbsp;target
businesses we may consider for our initial business combination may have internal controls that need improvement in areas such
as:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">staffing
                                         for financial, accounting and external reporting areas, including segregation of duties;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">reconciliation
                                         of accounts;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">proper
                                         recording of expenses and liabilities in the period to which they relate;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">evidence
                                         of internal review and approval of accounting transactions;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">documentation
                                         of processes, assumptions and conclusions underlying significant estimates; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">documentation
                                         of accounting policies and procedures.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 24.5pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">Because
it will take time, management involvement and perhaps outside resources to determine what internal control improvements are necessary
for us to meet regulatory requirements and market expectations for our operation of a target business, we may incur significant
expenses in meeting our public reporting responsibilities, particularly in the areas of designing, enhancing, or remediating internal
and disclosure controls. Doing so effectively may also take longer than we expect, thus increasing our exposure to financial fraud
or erroneous financing reporting.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 24.5pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Once
our management&rsquo;s report on internal controls is complete, we will retain our independent registered public accounting firm
to audit and render an opinion on such report when required by Section&nbsp;404 of the Sarbanes-Oxley Act. The independent registered
public accounting firm may identify additional issues concerning a target business&rsquo;s internal controls while performing
their audit of internal control over financial reporting.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Quantitative
and Qualitative Disclosures about Market Risk</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
net proceeds of this offering and the sale of the private placement warrants held in the trust account will be invested in U.S.
government treasury obligations with a maturity of 185 days or less or in money market funds meeting certain conditions under
Rule&nbsp;2a-7&nbsp;under the Investment Company Act which invest only in direct U.S. government treasury obligations. Due to
the short-term nature of these investments, we believe there will be no associated material exposure to interest rate risk.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Off-Balance&nbsp;Sheet
Arrangements; Commitments and Contractual Obligations; Quarterly Results</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of February 9, 2021, we did not have any&nbsp;off-balance&nbsp;sheet arrangements as defined in Item&nbsp;303(a)(4)(ii) of Regulation&nbsp;S-K&nbsp;and
did not have any commitments or contractual obligations. No unaudited quarterly operating data is included in this prospectus
as we have not conducted any operations to date.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">JOBS
Act</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
JOBS Act contains provisions that, among other things, relax certain reporting requirements for qualifying public companies. We
will qualify as an &ldquo;emerging growth company&rdquo; and under the JOBS Act will be allowed to comply with new or revised
accounting pronouncements based on the effective date for private (not publicly traded) companies. We are electing to delay the
adoption of new or revised accounting standards, and as a result, we may not comply with new or revised accounting standards on
the relevant dates on which adoption of such standards is required for&nbsp;non-emerging&nbsp;growth companies. As a result, our
financial statements may not be comparable to companies that comply with new or revised accounting pronouncements as of public
company effective dates.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Additionally,
we are in the process of evaluating the benefits of relying on the other reduced reporting requirements provided by the JOBS Act.
Subject to certain conditions set forth in the JOBS Act, if, as an &ldquo;emerging growth company,&rdquo; we choose to rely on
such exemptions we may not be required to, among other things, (i)&nbsp;provide an independent registered public accounting firm&rsquo;s
attestation report on our system of internal controls over financial reporting pursuant to Section&nbsp;404, (ii) provide all
of the compensation disclosure that may be required of&nbsp;non-emerging&nbsp;growth public companies under the Dodd-Frank Wall
Street Reform and Consumer Protection Act, (iii)&nbsp;comply with any requirement that may be adopted by the PCAOB regarding mandatory
audit firm rotation or a supplement to the independent registered public accounting firm&rsquo;s report providing additional information
about the audit and the financial statements (auditor discussion and analysis), and (iv)&nbsp;disclose certain executive compensation
related items such as the correlation between executive compensation and performance and comparisons of the CEO&rsquo;s compensation
to median employee compensation. These exemptions will apply for a period of five years following the completion of this offering
or until we are no longer an &ldquo;emerging growth company,&rdquo; whichever is earlier.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="a_010"></A>PROPOSED
BUSINESS</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Overview</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
are a blank check company incorporated in Delaware formed for the purpose of acquiring, engaging in a share exchange, share reconstruction
and amalgamation with, purchasing all or substantially all of the assets of, entering into contractual arrangements with, or engaging
in any other similar business combination with one or more businesses or entities, which we refer to throughout this prospectus
as our initial business combination. Although we are not limited to a particular industry or geographic region for purposes of
consummating an initial business combination, we intend to we intend to focus on B2B enterprise software companies, particularly
those operating in the customer engagement space within the telecommunications, retail and financial services industries in North
America and Western Europe, ideally those with a recurring revenue model and an overall transaction value of at least $400 million.
We have not identified any acquisition target and we have not, nor has anyone on our behalf, initiated any discussions to identify
any acquisition target. From the date of our formation through the date of this prospectus, there have been no communications
or discussions between any of our officers, directors or our sponsors and any of their contacts or relationships regarding a potential
initial business combination with our company. Additionally, we have not engaged or retained any agent or other representative
to identify or locate any suitable acquisition candidate, to conduct any research or take any measures, directly or indirectly,
to locate or contact a target business.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The customer engagement arena has been
growing and evolving at a rapid pace over the past few years. Given its critical importance to enterprises,
we expect the growth of the space to accelerate in the years to come. COVID has also accelerated the speed of adoption
of various customer engagement solutions by enterprises due to the increased need to digitally engage with
customers. Accordingly, we expect a large number of private companies to need capital due to attractive acquisition
opportunities. In addition, we see COVID as a long-term&nbsp;catalyst in accelerating the broader adoption of customer
engagement solutions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We intend to employ a proactive&nbsp;acquisition
strategy focused on identifying potential business combination targets in the chosen space. Likely targets will include
software companies operating within the overall customer engagement sector for various industry verticals. We believe strongly
in our management team&rsquo;s ability to add value from both an operating and a financing perspective, which has been a key driver
of our past successes and which we believe will continue to be central to our differentiated acquisition strategy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
ideal target company profile:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1)</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Operates
                                         in the B2B enterprise software arena with a recurring revenue business model</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(2)</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Provides
                                         services</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif"> to the telecom,
                                         financial services, or retail sectors</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(3)</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Utilizes
                                         big data analytics technologies, advanced artificial intelligence/machine learning algorithms,
                                         cloud capabilities, and IoT-friendly infrastructure</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Business
Strategy</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
will seek to create compelling stockholder value by leveraging the track record, strong network, and complementary experience
of our management team and sponsors, which includes experts in nearly all facets of the telecommunications, retail and financial
services sectors and strong expertise in investment management. Highlights of our team include the following:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Subash
Menon, Chief Executive Officer and Chairman of the Board</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>&nbsp;</I></B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Currently
                                         CEO and Co-founder of Pelatro (LON: PTRO), a Customer Engagement enterprise software
                                         company listed on the Alternative Investment Market (&ldquo;AIM&rdquo;) and the London
                                         Stock Exchange (&ldquo;LSE&rdquo;). Having founded Pelatro in 2013, Mr. Menon has propelled
                                         the growth of the company to its current stage with currently approximately 200 employees
                                         across five offices and an enterprise customer base of 21 companies across 17 countries.
                                         Mr. Menon guided Pelatro through a successful initial public offering (&ldquo;IPO&rdquo;)
                                         on the LSE in 2017.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
                                         former CEO and Founder of Subex Limited, Mr. Menon grew and transformed a start-up
                                         into a publicly-traded enterprise software company <FONT STYLE="line-height: 107%">providing
                                         digital trust products to communication service providers. At its peak under Mr. Menon&rsquo;s
                                         leadership, Subex had over 1,400 employees across 10 offices  and generated over $110 million
                                         in revenue across an enterprise customer base of approximately 200 companies. During Mr. Menon&rsquo;s
                                         tenure, Subex achieved a market cap of approximately $430 million and received the &ldquo;NASSCOM
                                         Innovation Award&rdquo; from the President of India.</FONT></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Guided
                                         company through multiple acquisitions in the UK, US and Canada and through a
                                         successful IPO in 1999 in India: National Stock Exchange (NSE: SUBEXLTD) and Bombay
                                         Stock Exchange (BSE: 532348).</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Financial
                                         instruments of Subex are listed on stock exchanges in London, Luxembourg and Singapore.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Degree
                                         in Electrical Engineering with Honors from the prestigious NIT, Durgapur in India and
                                         is a Distinguished Alumnus.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Sudeesh
Yezhuvath, Chief Operating Officer and Director</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>&nbsp;</I></B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Three
                                         decades of experience in the telecom industry. Areas of expertise include post-merger
                                         integration, sales, marketing, product management, technical operations and human
                                         resources.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Currently
                                         COO, Co-Founder and Executive Director of Pelatro, a Customer Engagement enterprise
                                         software company listed on the AIM and LSE.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Former
                                         COO and Member of the Board of Directors at Subex Ltd. At Subex, oversaw Post-Merger
                                         Integration of its many acquisitions including the then-largest cross-border software
                                         product acquisition from India.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">B.Tech
degree from the University of Calicut.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt"></FONT>&#9679;</TD>
<TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt">S<FONT STYLE="font-family: Times New Roman, Times, Serif; line-height: 107%">uccessfully
worked together with Mr. Menon for two decades, having built and grown two successful enterprise software companies and navigated
them through IPOs.</FONT></FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Nicholos
Hellyer, Chief Financial Officer</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>&nbsp;</I></B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Currently
                                         Finance Director of Pelatro Plc; responsible for all financial aspects of the IPO process,
                                         including historic reporting and IFRS conversion.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Former
                                         Senior Investment Banker at UBS, HSBC, and Opus Corporate Finance; advised small and
                                         midcap companies in a broad range of transactions, including IPOs, fundraisings and M&amp;A
                                         for growth and entrepreneurial companies with values ranging typically from $50 to $250
                                         mln.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Previously
                                         held non-executive director roles in companies quoted on the UK AIM and the Swedish Nasdaq
                                         First North markets.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Qualified
                                         as a Chartered Accountant with KPMG.</FONT></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">B.Sc.
                                         (First Class Honors) in Geography and Geology from Kings College London.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Dr.
Hossein Eslambolchi, Independent Director Nominee</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>&nbsp;</I></B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Chairman
                                         and CEO of CyberFlow Analytics, a cyber-intelligence software-as-a-service (&ldquo;SaaS)
                                         company, and 2020 Venture Partners, which provides <FONT STYLE="background-color: white">technology
                                         and operations consulting to Private Equity Firms and&nbsp;Venture&nbsp;Capitalists in
                                         the areas of Telecommunication Infrastructure, Network Intelligence and Information
                                         and Communications Technology (&ldquo;ICT&rdquo;).</FONT></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director
                                         of Clearwire Corporation from 2010-2013 and is on the Board of Directors for Hyperoffice,
                                         <FONT STYLE="background-color: white">a privately-held enterprise software company
                                         offering</FONT> </FONT>web collaboration, online meeting, web conferencing, online
                                         database and email marketing applications to the small and mid-sized business segment.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt">&#9679;<FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Joined
                                         AT&amp;T Bell Laboratories&nbsp;in 1986 and rose to become global CTO and CIO, President
                                         and CEO of AT&amp;T Labs and AT&amp;T Global Network Services and was a 16b officer of
                                         the company as of 2001. Served on AT&amp;T&rsquo;s governing Executive Committee.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Regarded
                                         in scientific community as expert in IP network design and reliability, security, IP
                                         technologies, services and IP applications. Known for establishing industry
                                         standard business processes such as the &ldquo;Concept of One&rdquo; and the &ldquo;Concept
                                         of Zero,&rdquo; and the &ldquo;Concept of None,&rdquo; <FONT STYLE="line-height: 107%">which
                                         have been applied effectively to streamline production processes.</FONT></FONT><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt; line-height: 107%">&nbsp;
                                         </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 107%">Also</FONT><FONT STYLE="font: 10pt/107% Times New Roman, Times, Serif">&nbsp;known
                                         in the industry for the &ldquo;Eslambolchi Law of Complexity,&rdquo; a unique model
                                         designed to govern telecom protocols.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Serves
                                         on Board of Advisors to the University of California San Diego School Of Engineering,
                                         Allegis Capital VC, SquareZero, RainStor, Prodapt, Tickets48 and PureWave Networks. Dr.
                                         Eslambolchi also serves as a member of the Board of Trustees for the Shiraz University
                                         School of Medical Sciences in New York City.</FONT></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">BS,
                                         MS, Ph.D. and Post Doc degrees in Applied &amp; Astro Physics along with MD in Neurosurgery
                                         with highest honors from University of California San Diego.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"></P>

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    <DIV STYLE=" margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Sample
                                         Achievements:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.75in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Holds
                                         over 1,000 patents worldwide</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.75in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">AT&amp;T
                                         Fellow Award, AT&amp;T&rsquo;s highest technical honor, 1999</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.75in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Thomas
                                         Alva Edison Inventor of the Year Award by the New Jersey Inventors Hall of Fame, 1997
                                         and 2013.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.75in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Top
                                         100 alumni in the history of the University of California San Diego</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Vishant
Vora, Independent Director</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>&nbsp;</I></B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Technology
                                         executive with over 30 years of experience in the telecom industry across the Americas,
                                         Europe and Asia</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Currently
                                         President of Global Operations and Managed Services at Mavenir <FONT STYLE="line-height: 107%">(approximately
                                         $427 million in revenue in 2019)</FONT> with responsibility for <FONT STYLE="background-color: white">global
                                         end-to-end business operations including network design, rollout and deployments, solutions
                                         and systems integration services, managed services and related strategic initiatives</FONT></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Mr.
                                         Vora</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif"> led the technological
                                         transformation at Vodafone Romania as the CTO helping to grow the subscriber base over
                                         12 times</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Also
                                         </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">a member of the Vodafone
                                         Global Technology Board responsible for the technological direction and strategy for
                                         the Vodafone Group</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
                                         CTO of Vodafone Idea, India, Mr. Vora successfully integrated the networks and
                                         operations of Vodafone and Idea into a global behemoth with over 300 million subscribers</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">At
                                         Vodafone Idea, India, Mr. Vora oversaw a budget of approximately $4.5 billion
                                         while leading a team of 6,000 people</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Awarded
                                         the</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif"> &ldquo;CTO of
                                         the Year in India&rdquo; award in 2014</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Alumnus
                                         </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">of the Harvard Business
                                         School where he completed the General Management Program in Business Administration</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Degree
                                         </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">in Electrical Engineering
                                         from Lawrence Technological University, US</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Dr.
Kumar Shiralagi, Independent Director Nominee</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>&nbsp;</I></B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Investment
                                         advisor in the VC/PE industry since 2003</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Former
                                         Managing Director at Kalaari Capital Advisors in India. Kalaari manages over $650 million
                                         and has several investments in the business-to-consumer (&ldquo;B2C&rdquo;) space
                                         including milkbasket, Zivame and Snapdeal. Previously served as India
                                         country head and Director for Intel Capital&rsquo;s investments in South Asia. Intel
                                         Capital is a fund set up by Intel Corporation, focused on emerging technologies including
                                         cloud, artificial intelligence/machine learning, edge computing and cyber
                                         security. Intel Capital&rsquo;s past investments include companies such as
                                         Broadcom and RedHat. Dr. Shiralagi served in key roles as an investor and a board
                                         member for the investments made by Kalaari and Intel Capital.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Scientist
                                         at Motorola Research Laboratories in the field of high-speed devices, optoelectronics
                                         and nanotechnology and published over 60 papers in reputable journals and has 23 issued
                                         patents.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Worked
                                         at</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif"> Motorola Ventures,
                                         the global investment arm of Motorola Solutions which invests in <FONT STYLE="background-color: white">mission
                                         critical communications, video security &amp; analytics, and public safety workflow software
                                         </FONT>till 1999.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Co-founder
                                         and COO at Lytek Corporation in Phoenix AZ, a manufacturer of surface emitting lasers.</FONT></TD></TR>                                                                                                                                                                                                                                                                                                                                                                                                                                                <TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt">&nbsp;</TD><TD STYLE="text-align: left; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt">&nbsp;</TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt">&nbsp;</TD><TD STYLE="text-align: left; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt">&#9679;</TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt">MBA
                                         from Thunderbird</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="text-align: left; padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; text-align: left; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Bachelors
                                         in Electronics and Communications from National Institute of Technology, Surathkal in
                                         1984; MS and PhD in Electrical Engineering from Arizona State University.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
directors and officers have deep relationships within the software industry and within the end user industries like telecommunications,
financial services and retail. This extensive and deep pool of knowledge, experience and expertise will guide the corporation
successfully with respect to all aspects of business, including strategy, identification of appropriate targets, acquisition,
integration and operations.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Market
Opportunity</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Although
we are not limited to a particular industry or geographic region for purposes of consummating an&nbsp;initial business combination,
we intend to focus on B2B enterprise software companies, particularly those operating in the Customer Engagement space
within the telecommunications, retail and financial services sectors. We will target businesses located in North America
and Western Europe, ideally those with a recurring revenue model and an overall transaction value between of at least $400
million.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Customer
Engagement is the process of interacting with customers, either enterprise customers or consumers, through a variety of channels
in order to strengthen relationships with them. Today, given the extremely high volume of interactions that take place in real
time, customer engagement solutions utilize artificial intelligence/ machine learning and leverage big data to more effectively
model and understand customer behavior, expectations and preferences. Such solutions drive revenue and better retention by enabling
enterprises to more effectively communicate and interact with their customers through a superior digital experience. Today&rsquo;s
customer engagement solutions cover a wide variety of applications including communication and fulfillment. These are often implemented
in omni-channel engagement models utilizing a variety of modes and touchpoints including CRM platforms, web chat, social media,
bots, instant messaging platforms, apps and customer self-service.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">The
sponsors of Bannix Acquisition Corp. have particular expertise with B2B2X models (&ldquo;business to business to X&rdquo;), where
&ldquo;X&rdquo; represents any type of end user, either enterprises or consumers. Having successfully developed customer engagement
solutions for telecom companies operating within a B2B2X paradigm, we believe the current landscape provides for tremendous opportunities
to acquire similar companies across the retail and financial services sectors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
believe the target universe of enterprise software companies offering Customer Engagement solutions is robust, particularly
due to increasing demands and expectations of both enterprise customers and individual consumers. The below graph shows the strong
projected growth of the Customer Engagement Solutions market.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><IMG SRC="img_002.jpg" ALT="">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Global
Customer Engagement Solutions Market</FONT></P>


<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9;<I>Source:
Mordor Intelligence Report (CUSTOMER ENGAGEMENT SOLUTIONS MARKET - GROWTH, &#9;TRENDS, AND FORECAST 2020-2025)</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 22.5pt">The graph given below
provides considerable insight into the experience of consumers and customer experience professionals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 22.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 9pt Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; color: Red"><FONT STYLE="font-family: Times New Roman, Times, Serif"><IMG SRC="img_003.jpg" ALT="">&nbsp;</FONT></P>

<P STYLE="font: 9pt Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; color: Red"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Sources:
Forrester Consulting, Aberdeen Group and Gartner Inc. </I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Given
the disenchantment of consumers and the industry practitioners with the depth and quality of engagement, the market is expected
to expand significantly in the coming years for innovative solutions. Further, an increasing number of enterprises will opt for
these solutions to increase engagement with consumers, improve the digital experience of consumers, enhance brand awareness and
deliver higher customer satisfaction. Consequently, demand is expected to grow robustly in all sectors, particularly in the sectors
that we plan to focus on. Growth projections and market sizes are provided in the graphs given below.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 9pt Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; color: Red"><FONT STYLE="font-family: Times New Roman, Times, Serif"><IMG SRC="img_004.jpg" ALT="">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Sources:
Grand View Research Report (Telecom Services Market Size, Share &amp; Trends Analysis 2020-2027); The Business Research Company
(Retail Global Market Report 2021: COVID-19 Impact And Recovery To 2030) and The Business Research Company Report (Financial Services
Global Market Report 2021: COVID-19 Impact And Recovery To 2030</I>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Acquisition
Criteria</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
will seek to identify companies that have compelling market presence, growth potential and a combination of the following characteristics.
We will use these criteria and guidelines in evaluating acquisition opportunities, but we may decide to enter our initial business
combination with a target business that does not meet these criteria and guidelines. We intend to acquire companies or assets
that we believe have the following attributes:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: right"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Growth
                                         Potential: high growth history and future trajectory in revenue top line, above industry
                                         average</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: right"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Competitive
                                         Position: Leading or growing market share compared to peer group</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: right"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Management
                                         Team: Talented, highly motivated, experienced with strong execution track record.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: right"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Profitability
                                         or visible path to profitability: Strong business economics and good operating results
                                         leading to profitability</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: right"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Operational
                                         Efficiency: Possibility to improve through introduction of processes.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">These
criteria are not intended to be exhaustive. Any evaluation relating to the merits of a particular initial business combination
may be based, to the extent relevant, on these general guidelines as well as other considerations, factors and criteria that our
management may deem relevant.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
are not prohibited from pursuing an initial business combination or subsequent transaction with a company that is affiliated with
our advisors or our sponsors, officers or directors. In the event we seek to complete our initial business combination with a
company that is affiliated with our sponsors, officers or directors, we will obtain an opinion from an independent investment
banking firm which is a member of FINRA or an independent valuation or accounting firm that such initial business combination
or transaction is fair to our company from a financial point of view.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
currently do not have any specific business combination under consideration. Our officers and directors have neither individually
selected nor considered a target business, nor have they had any substantive discussions regarding possible target businesses
among themselves or with our underwriters or other advisors. Additionally, we have not, nor has anyone on our behalf, taken any
substantive measure, directly or indirectly, to select or locate any suitable acquisition candidate for us, nor have we engaged
or retained any agent or other representative to select or locate any such acquisition candidate.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">With
respect to the foregoing descriptions, past performance of our management team including the members of our board of directors,
is not a guarantee either (i)&nbsp;of success with respect to any business combination we may consummate or (ii)&nbsp;that we
will be able to identify a suitable candidate for our initial business combination. You should not rely on the historical performance
record of our management team or members of our board of directors as indicative of our future performance. Our officers and directors
have not had experience with blank check companies or special purpose acquisition companies in the past. In addition, our directors
and executive officers may have conflicts of interest with other entities to which they owe fiduciary or contractual obligations
with respect to initial business combination opportunities. For a list of our directors and executive officers and entities for
which a conflict of interest may or does exist between such directors and officers and the company, as well as the priority and
preference that such entity has with respect to performance of obligations and presentation of business opportunities to us, please
refer to the table and subsequent explanatory paragraph under &ldquo;Management &mdash; Conflicts of Interest.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Effecting
Our Initial Business Combination</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
are not presently engaged in, and we will not engage in, any operations for an indefinite period of time following this offering.
We intend to complete our initial business combination using cash from the proceeds of this offering and the private placement
of the private placement units, our share capital, debt or a combination of these as the consideration to be paid in our initial
business combination. We may seek to complete our initial business combination with a company or business that may be financially
unstable or in its early stages of development or growth, which would subject us to the numerous risks inherent in such companies
and businesses, although we will not be permitted to effectuate our initial business combination with another blank check company
or a similar company with nominal operations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
our initial business combination is paid for using equity or debt securities, or not all of the funds released from the trust
account are used for payment of the consideration in connection with our business combination or used for redemptions of our ordinary
shares, we may apply the balance of the cash released to us from the trust account for general corporate purposes, including for
maintenance or expansion of operations of the post-transaction&nbsp;company, the payment of principal or interest due on indebtedness
incurred in completing our initial business combination, to fund the purchase of other assets, companies or for working capital.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
may seek to raise additional funds through a private offering of debt or equity securities in connection with the completion of
our initial business combination (which may include a specified future issuance), and we may complete our initial business combination
using the proceeds of such offering rather than using the amounts held in the trust account. Subject to compliance with applicable
securities laws, we would expect to complete such financing only simultaneously with the completion of our business combination.
In the case of an initial business combination funded with assets other than the trust account assets, our tender offer documents
or proxy materials disclosing the business combination would disclose the terms of the financing and, only if we determine necessary
for business reasons or if required by law, we would seek stockholder approval of such financing. There are no prohibitions on
our ability to raise funds privately, including pursuant to any specified future issuance, or through loans in connection with
our initial business combination. At this time, we are not a party to any arrangement or understanding with any third party with
respect to raising any additional funds through the sale of securities or otherwise.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
time required to select and evaluate a target business and to structure and complete our initial business combination, and the
costs associated with this process, are not currently ascertainable with any degree of certainty. Any costs incurred with respect
to the identification and evaluation of a prospective target business with which our business combination is not ultimately completed
will result in our incurring losses and will reduce the funds we can use to complete another business combination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">So
long as we obtain and maintain a listing for our securities on Nasdaq, our initial business combination must be with one or more
target businesses that together have an aggregate fair market value equal to at least 80% of the value of the assets held in the
trust account (excluding taxes payable on the interest earned on the trust account) at the time of our signing a definitive agreement
in connection with our initial business combination. If our board of directors is not able to independently determine the fair
market value of the target business or businesses, we will obtain an opinion from an independent investment banking firm that
is a member of FINRA, or an independent accounting firm with respect to the satisfaction of such criteria. Additionally, pursuant
to Nasdaq rules, any initial business combination must be approved by a majority of our independent directors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
anticipate structuring our initial business combination so that the post-transaction company in which our public stockholders
own shares will own or acquire 100% of the equity interests or assets of the target business or businesses. We may, however, structure
our initial business combination such that the post-transaction company owns or acquires less than 100% of such interests or assets
of the target business in order to meet certain objectives of the target management team or stockholders or for other reasons.
However, we will only complete such business combination if the post-transaction company owns or acquires 50% or more of the outstanding
voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required
to register as an investment company under the Investment Company Act. Even if the post-transaction company owns or acquires 50%
or more of the voting securities of the target, our stockholders prior to the business combination may collectively own a minority
interest in the post-transaction company, depending on valuations ascribed to the target and us in the business combination transaction.
For example, we could pursue a transaction in which we issue a substantial number of new shares in exchange for all of the outstanding
capital stock of a target. In this case, we would acquire a 100% controlling interest in the target. However, as a result of the
issuance of a substantial number of new shares, our stockholders immediately prior to our initial business combination could own
less than a majority of our outstanding shares subsequent to our initial business combination. If less than 100% of the equity
interests or assets of a target business or businesses are owned or acquired by the post-transaction company, the portion of such
business or businesses that is owned or acquired is what will be valued for purposes of the 80% of net assets test. If the business
combination involves more than one target business, the 80% of net assets test will be based on the aggregate value of all of
the target businesses and we will treat the target businesses together as the initial business combination for purposes of a tender
offer or for seeking stockholder approval, as applicable.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Sourcing
of Potential Business Combination Targets</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
expect to receive a number of proprietary transaction opportunities to originate as a result of the business relationships, direct
outreach, and deal sourcing activities from the network built up by our management team, including the members of our board of
directors. We also anticipate that target business candidates will be brought to our attention from various unaffiliated sources,
including investment banking firms, consultants, accounting firms, private equity groups, large business enterprises, and other
market participants. These sources may also introduce us to target businesses in which they think we may be interested on an unsolicited
basis, since many of these sources will have read this prospectus and know what types of businesses we are targeting. Some of
our officers and directors may enter into employment or consulting agreements with the post-transaction&nbsp;company following
our initial business combination. The presence or absence of any such fees or arrangements will not be used as a criterion in
our selection process of an acquisition candidate. In no event will our sponsors or any of our existing officers or directors,
or any entity with which they are affiliated, be paid any finder&rsquo;s fee, consulting fee or other compensation prior to, or
for any services they render in order to effectuate, the completion of our initial business combination (regardless of the type
of transaction that it is).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
are not prohibited from pursuing an initial business combination with a business combination target that is affiliated with our
sponsors, officers or directors. In the event we seek to complete our initial business combination with a business combination
target that is affiliated with our sponsors, officers or directors, we, or a committee of independent directors, would obtain
an opinion from an independent investment banking firm which is a member of FINRA or an independent accounting firm that such
an initial business combination is fair to our company from a financial point of view. We are not required to obtain such an opinion
in any other context. As more fully discussed in the section of this prospectus entitled &ldquo;Management&nbsp;&mdash; Conflicts
of Interest,&rdquo; if any of our officers or directors becomes aware of a business combination opportunity that falls within
the line of business of any entity to which he or she has pre-existing&nbsp;fiduciary or contractual obligations, he or she may
be required to present such business combination opportunity to such entity prior to presenting such business combination opportunity
to us, subject to his or her fiduciary duties under Delaware law. As a result of these duties and obligations, situations may
arise in which business opportunities may be given to one or more of these other entities prior to being presented to us.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Financial
Position</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">With
funds available for a business combination initially in the amount of $100,000,000 assuming no redemptions (or $115,000,000 assuming
no redemptions and the underwriters&rsquo; over-allotment option is exercised in full), we offer a target business a variety of
options such as creating a liquidity event for its owners, providing capital for the potential growth and expansion of its operations
or strengthening its balance sheet by reducing its debt ratio. This amount includes up to $2,750,000 of the business combination
marketing fee payable to&nbsp;I-Bankers&nbsp;(or up to $3,162,500 if the underwriters&rsquo; over-allotment option is exercised
in full). Because we are able to complete our initial business combination using our cash, debt or equity securities, or a combination
of the foregoing, we have the flexibility to use the most efficient combination that will allow us to tailor the consideration
to be paid to the target business to fit its needs and desires. However, we have not taken any steps to secure third party financing
and there can be no assurance it will be available to us.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Lack
of Business Diversification</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">For
an indefinite period of time after the completion of our initial business combination, the prospects for our success may depend
entirely on the future performance of a single business. Unlike other entities that have the resources to complete business combinations
with multiple entities in one or several industries, it is probable that we will not have the resources to diversify our operations
and mitigate the risks of being in a single line of business. In addition, we intend to focus our search for an initial business
combination in a single industry. By completing our business combination with only a single entity, our lack of diversification
may:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: right"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">subject
                                         us to negative economic, competitive and regulatory developments, any or all of which
                                         may have a substantial adverse impact on the particular industry in which we operate
                                         after our initial business combination, and</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: right"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">cause
                                         us to depend on the marketing and sale of a single product or limited number of products
                                         or services.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Limited
ability to evaluate the target&rsquo;s management team</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Although
we intend to closely scrutinize the management of a prospective target business when evaluating the desirability of effecting
our business combination with that business, our assessment of the target business&rsquo; management may not prove to be correct.
In addition, the future management may not have the necessary skills, qualifications or abilities to manage a public company.
Furthermore, the future role of members of our management team including our board of directors, if any, in the target business
cannot presently be stated with any certainty. While it is possible that one or more of our directors will remain associated in
some capacity with us following our business combination, it is presently unknown if any of them will devote their full efforts
to our affairs subsequent to our business combination. Moreover, we cannot assure you that members of our management team will
have significant experience or knowledge relating to the operations of the particular target business. The determination as to
whether any members of our board of directors will remain with the combined company will be made at the time of our initial business
combination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">Following
a business combination, to the extent that we deem it necessary, we may seek to recruit additional managers to supplement the
incumbent management team of the target business. We cannot assure you that we will have the ability to recruit additional managers,
or that additional managers will have the requisite skills, knowledge or experience necessary to enhance the incumbent management</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Stockholders
may not have the ability to approve our initial business combination</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
may conduct redemptions without a stockholder vote pursuant to the tender offer rules of the SEC. However, we will seek stockholder
approval if it is required by law or applicable stock exchange rule, or we may decide to seek stockholder approval for business
or other legal reasons. Presented in the table below is a graphic explanation of the types of initial business combinations we
may consider and whether stockholder approval is currently required under Delaware law for each such transaction.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 88%; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Type
    of Transaction</FONT></TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; width: 9%; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Whether<BR>
                                         Stockholder<BR> Approval is<BR> Required</B></FONT></TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Purchase
    of assets</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">No</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Purchase
    of stock of target not involving a merger with the company</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">No</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Merger
    of target into a subsidiary of the company</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">No</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Merger
    of the company with a target</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">Yes</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Under
Nasdaq&rsquo;s listing rules, stockholder approval would be required for our initial business combination if, for example:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">we
                                         issue shares of common stock that will be equal to or in excess of 20% of the number
                                         of shares of our common stock then outstanding (other than in a public offering);</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">any
                                         of our directors, officers or substantial stockholders (as defined by Nasdaq rules) has
                                         a 5% or greater interest (or such persons collectively have a 10% or greater interest),
                                         directly or indirectly, in the target business or assets to be acquired or otherwise
                                         and the present or potential issuance of common stock could result in an increase in
                                         outstanding common shares or voting power of 5% or more; or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                         issuance or potential issuance of common stock will result in our undergoing a change
                                         of control.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Permitted
purchases of our securities</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
the event we seek stockholder approval of our business combination and we do not conduct redemptions in connection with our business
combination pursuant to the tender offer rules, our initial stockholders, directors, officers, advisors or their affiliates may
purchase shares in privately negotiated transactions or in the open market either prior to or following the completion of our
initial business combination. However, they have no current commitments, plans or intentions to engage in such transactions and
have not formulated any terms or conditions for any such transactions. None of the funds in the trust account will be used to
purchase shares in such transactions. They will not make any such purchases when they are in possession of any material&nbsp;non-public&nbsp;information
not disclosed to the seller or if such purchases are prohibited by Regulation M under the Exchange Act. Such a purchase may include
a contractual acknowledgement that such stockholder, although still the record holder of our shares is no longer the beneficial
owner thereof and therefore agrees not to exercise its redemption rights. Subsequent to the consummation of this offering, we
will adopt an insider trading policy which will require insiders to: (i)&nbsp;refrain from purchasing shares during certain blackout
periods and when they are in possession of any material&nbsp;non-public&nbsp;information and (ii)&nbsp;to clear all trades with
our legal counsel prior to execution. We cannot currently determine whether our insiders will make such purchases pursuant to
a&nbsp;Rule&nbsp;10b5-1&nbsp;plan, as it will be dependent upon several factors, including but not limited to, the timing and
size of such purchases. Depending on such circumstances, our insiders may either make such purchases pursuant to a&nbsp;Rule&nbsp;10b5-1&nbsp;plan
or determine that such a plan is not necessary.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 24.5pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
the event that our initial stockholders, directors, officers, advisors or their affiliates purchase shares in privately negotiated
transactions from public stockholders who have already elected to exercise their redemption rights, such selling stockholders
would be required to revoke their prior elections to redeem their shares. We do not currently anticipate that such purchases,
if any, would constitute a tender offer subject to the tender offer rules under the Exchange Act or a going-private transaction
subject to the going-private rules under the Exchange Act; however, if the purchasers determine at the time of any such purchases
that the purchases are subject to such rules, the purchasers will comply with such rules.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 24.5pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
purpose of such purchases would be to (i)&nbsp;vote such shares in favor of the business combination and thereby increase the
likelihood of obtaining stockholder approval of the business combination or (ii)&nbsp;to satisfy a closing condition in an agreement
with a target that requires us to have a minimum net worth or a certain amount of cash at the closing of our business combination,
where it appears that such requirement would otherwise not be met. This may result in the completion of our business combination
that may not otherwise have been possible.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
addition, if such purchases are made, the public &ldquo;float&rdquo; of our common stock may be reduced and the number of beneficial
holders of our securities may be reduced, which may make it difficult to maintain or obtain the quotation, listing or trading
of our securities on a national securities exchange.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
initial stockholders, officers, directors and/or their affiliates anticipate that they may identify the stockholders with whom
our initial stockholders, officers, directors or their affiliates may pursue privately negotiated purchases by either the stockholders
contacting us directly or by our receipt of redemption requests submitted by stockholders following our mailing of proxy materials
in connection with our initial business combination. To the extent that our initial stockholders, officers, directors, advisors
or their affiliates enter into a private purchase, they would identify and contact only potential selling stockholders who have
expressed their election to redeem their shares for a pro rata share of the trust account or vote against the business combination.
Our initial stockholders, officers, directors, advisors or their affiliates will only purchase shares if such purchases comply
with Regulation M under the Exchange Act and the other federal securities laws.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Any
purchases by our initial stockholders, officers, directors and/or their affiliates who are affiliated purchasers under Rule&nbsp;10b-18&nbsp;under
the Exchange Act will only be made to the extent such purchases are able to be made in compliance with Rule&nbsp;10b-18,&nbsp;which
is a safe harbor from liability for manipulation under Section&nbsp;9(a)(2) and Rule&nbsp;10b-5&nbsp;of the Exchange Act. Rule&nbsp;10b-18&nbsp;has
certain technical requirements that must be complied with in order for the safe harbor to be available to the purchaser. Our initial
stockholders, officers, directors and/or their affiliates will not make purchases of common stock if the purchases would violate
Section&nbsp;9(a)(2) or Rule&nbsp;10b-5&nbsp;of the Exchange Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Ability
to Extend Time to Complete Business Combination</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
will have until 18 months from the closing of this offering to consummate our initial business combination. However, if we anticipate
that we may not be able to consummate our initial business combination within 18 months, we may, by resolution of our board of
directors if requested by our sponsors, extend the period of time to consummate a business combination up to two times, each by
an additional three months (for a total of up to 24 months to complete a business combination), subject to the sponsors depositing
additional funds into the trust account as set out below. Pursuant to the terms of our amended and restated certificate of incorporation
and the trust agreement to be entered into between us and Continental Stock Transfer &amp; Trust Company, LLC on the date of this
prospectus, in order to extend the time available for us to consummate our initial business combination, our initial stockholders
or their affiliates or designees, upon five days advance notice prior to the applicable deadline, must deposit into the trust
account for each three-month extension, $1,000,000, or $1,150,000 if the underwriters&rsquo; over-allotment option is exercised
in full ($0.10 per share in either case) on or prior to the date of the applicable deadline, up to an aggregate of $2,000,000
(or $2,300,000 if the underwriters&rsquo; over-allotment option is exercised in full), or approximately $0.20 per share. In the
event that we receive notice from our sponsors five days prior to the applicable deadline of its wish for us to effect an extension,
we intend to issue a press release announcing such intention at least three days prior to the applicable deadline. In addition,
we intend to issue a press release the day after the applicable deadline announcing whether or not the funds had been timely deposited.
Our sponsors and its affiliates or designees are not obligated to fund the trust account to extend the time for us to complete
our initial business combination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Redemption
rights for public stockholders upon completion of our initial business combination</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
will provide our public stockholders with the opportunity to redeem all or a portion of their shares of common stock upon the
completion of our initial business combination at a&nbsp;per-share&nbsp;price, payable in cash, equal to the aggregate amount
then on deposit in the trust account as of two business days prior to the consummation of the initial business combination, including
interest (which interest shall be net of taxes payable) divided by the number of then outstanding public shares, subject to the
limitations described herein. The amount in the trust account is initially anticipated to be approximately $10.00 per public share
(subject to increase of up to an additional approximately $0.20 per share in the event that our sponsors elect to extend the period
of time to consummate a business combination, as described in more detail in this prospectus). The per share amount we will distribute
to stockholders who properly exercise their redemption rights will not be reduced by the fee payable to&nbsp;I-Bankers&nbsp;pursuant
to the business combination marketing agreement. See the section entitled &ldquo;Underwriting &mdash; Business Combination Marketing
Agreement.&rdquo; Our sponsors, officers and directors have entered into a letter agreement with us, pursuant to which they have
agreed to waive their redemption rights with respect to their founder shares and any public shares they may hold in connection
with the completion of our business combination, 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 the prescribed time
frame.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Manner
of Conducting Redemptions</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
will provide our public stockholders with the opportunity to redeem all or a portion of their shares of common stock upon the
completion of our initial business combination either (i)&nbsp;in connection with a stockholder meeting called to approve the
business combination or (ii)&nbsp;by means of a tender offer. The decision as to whether we will seek stockholder approval of
a proposed business combination or conduct a tender offer will be made by us, solely in our discretion, and will be based on a
variety of factors such as the timing of the transaction and whether the terms of the transaction would require us to seek stockholder
approval under the law or stock exchange listing requirement. Under Nasdaq rules, asset acquisitions and stock purchases would
not typically require stockholder approval while direct mergers with our company where we do not survive and any transactions
where we issue more than 20% of our outstanding common stock or seek to amend our amended and restated certificate of incorporation
would require stockholder approval. We may conduct redemptions without a stockholder vote pursuant to the tender offer rules of
the SEC unless stockholder approval is required by law or stock exchange listing requirement or we choose to seek stockholder
approval for business or other legal reasons. So long as we obtain and maintain a listing for our securities on Nasdaq, we would
be required to comply with such rules.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
a stockholder vote is not required and we do not decide to hold a stockholder vote for business or other legal reasons, we will,
pursuant to our amended and restated certificate of incorporation:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">conduct
                                         the redemptions pursuant to Rule&nbsp;13e-4&nbsp;and Regulation 14E of the Exchange Act,
                                         which regulate issuer tender offers, and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">file
                                         tender offer documents with the SEC prior to completing our initial business combination
                                         which contain substantially the same financial and other information about the initial
                                         business combination and the redemption rights as is required under Regulation 14A of
                                         the Exchange Act, which regulates the solicitation of proxies.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Upon
the public announcement of our initial business combination, we or our initial stockholders will terminate any plan established
in accordance with Rule&nbsp;10b5-1&nbsp;to purchase shares of our common stock in the open market if we elect to redeem our public
shares through a tender offer, to comply with Rule&nbsp;14e-5&nbsp;under the Exchange Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
the event we conduct redemptions pursuant to the tender offer rules, our offer to redeem will remain open for at least 20 business
days, in accordance with Rule&nbsp;14e-1(a)&nbsp;under the Exchange Act, and we will not be permitted to complete our initial
business combination until the expiration of the tender offer period. In addition, the tender offer will be conditioned on public
stockholders not tendering more than a specified number of public shares which are not purchased by our initial stockholders,
which number will be based on the requirement that we may not redeem public shares in an amount that would cause our net tangible
assets to be less than $5,000,001 both immediately before and after the consummation of our initial business combination (so that
we are not subject to the SEC&rsquo;s &ldquo;penny stock&rdquo; rules) or any greater net tangible asset or cash requirement which
may be contained in the agreement relating to our initial business combination. If public stockholders tender more shares than
we have offered to purchase, we will withdraw the tender offer and not complete the initial business combination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If,
however, stockholder approval of the transaction is required by law or stock exchange listing requirement, or we decide to obtain
stockholder approval for business or other legal reasons, we will, pursuant to our amended and restated certificate of incorporation:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">conduct
                                         the redemptions in conjunction with a proxy solicitation pursuant to Regulation 14A of
                                         the Exchange Act, which regulates the solicitation of proxies, and not pursuant to the
                                         tender offer rules, and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">file
                                         proxy materials with the SEC.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
the event that we seek stockholder approval of our initial business combination, we will distribute proxy materials and, in connection
therewith, provide our public stockholders with the redemption rights described above upon completion of the initial business
combination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">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 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. Our sponsors, executive officers and directors
will count toward this quorum and have agreed to vote their founder shares and any public shares purchased during or after this
offering in favor of our initial business combination. These quorum and voting thresholds, and the voting agreements of our sponsors,
executive officers and directors may make it more likely that we will consummate our initial business combination. Each public
stockholder may elect to redeem its public shares irrespective of whether they vote for or against the proposed transaction. In
addition, our sponsors, officers and directors have entered into a letter agreement with us, pursuant to which they have agreed
to waive their redemption rights with respect to their founder shares and public shares in connection with the completion of a
business combination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
amended and restated certificate of incorporation will provide that in no event will we redeem our public shares in an amount
that would cause our net tangible assets to be less than $5,000,001 both immediately before and after the consummation of our
initial business combination (so that we are not subject to the SEC&rsquo;s &ldquo;penny stock&rdquo; rules). Redemptions of our
public shares may also be subject to a higher net tangible asset test or cash requirement pursuant to an agreement relating to
our initial business combination. For example, the proposed business combination may require: (i)&nbsp;cash consideration to be
paid to the target or its owners, (ii)&nbsp;cash to be transferred to the target for working capital or other general corporate
purposes or (iii)&nbsp;the retention of cash to satisfy other conditions in accordance with the terms of the proposed business
combination. In the event the aggregate cash consideration we would be required to pay for all shares of common stock that are
validly submitted for redemption plus any amount required to satisfy cash conditions pursuant to the terms of the proposed business
combination exceed the aggregate amount of cash available to us, we will not complete the business combination or redeem any shares,
and all shares of common stock submitted for redemption will be returned to the holders thereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Limitation
on redemption upon completion of our initial business combination if we seek stockholder approval</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Notwithstanding
the foregoing, if we seek stockholder approval of our initial business combination and we do not conduct redemptions in connection
with our business combination pursuant to the tender offer rules, our amended and restated certificate of incorporation will provide
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 &ldquo;group&rdquo; (as defined under Section&nbsp;13 of the Exchange Act), will be restricted from seeking
redemption rights with respect to Excess Shares. We believe this restriction will discourage stockholders from accumulating large
blocks of shares, and subsequent attempts by such holders to use their ability to exercise their redemption rights against a proposed
business combination as a means to force us, our initial stockholders or our management to purchase their shares at a significant
premium to the then-current market price or on other undesirable terms. Absent this provision, a public stockholder holding an
aggregate of 15% or more of the shares sold in this offering could threaten to exercise its redemption rights if such holder&rsquo;s
shares are not purchased by us, our initial stockholders or our management at a premium to the then-current market price or on
other undesirable terms. By limiting our stockholders&rsquo; ability to redeem to less than 15% of the shares sold in this offering,
we believe we will limit the ability of a small group of stockholders to unreasonably attempt to block our ability to complete
our business combination, particularly in connection with a business combination with a target that requires as a closing condition
that we have a minimum net worth or a certain amount of cash. However, we would not be restricting our stockholders&rsquo; ability
to vote all of their shares (including Excess Shares) for or against our business combination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Tendering
stock certificates in connection with a tender offer or redemption rights</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
may require our public stockholders seeking to exercise their redemption rights, whether they are record holders or hold their
shares in &ldquo;street name,&rdquo; to either tender their certificates to our transfer agent prior to the date set forth in
the tender offer documents mailed to such holders, or up to two business days prior to the vote on the proposal to approve the
business combination in the event we distribute proxy materials, or to deliver their shares to the transfer agent electronically
using Depository Trust Company&rsquo;s DWAC (Deposit/Withdrawal At Custodian) System, at the holder&rsquo;s option. The tender
offer or proxy materials, as applicable, that we will furnish to holders of our public shares in connection with our initial business
combination will indicate whether we are requiring public stockholders to satisfy such delivery requirements. Accordingly, a public
stockholder would have from the time we send out our tender offer materials until the close of the tender offer period, or up
to two business days prior to the vote on the business combination if we distribute proxy materials, as applicable, to tender
its shares if it wishes to seek to exercise its redemption rights. Given the relatively short exercise period, it is advisable
for stockholders to use electronic delivery of their public shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">There
is a nominal cost associated with the above-referenced tendering process and the act of certificating the shares or delivering
them through the DWAC System. The transfer agent will typically charge the tendering broker and it would be up to the broker whether
or not to pass the cost on to the redeeming holder. However, the fee would be incurred regardless of whether or not we require
holders seeking to exercise redemption rights to tender their shares. The need to deliver shares is a requirement of exercising
redemption rights regardless of the timing of when such delivery must be effectuated.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
foregoing is different from the procedures used by some blank check companies. In order to perfect redemption rights in connection
with their business combinations, many blank check companies would distribute proxy materials for the stockholders&rsquo; vote
on an initial business combination, and a holder could simply vote against a proposed business combination and check a box on
the proxy card indicating such holder was seeking to exercise his or her redemption rights. After the business combination was
approved, the company would contact such stockholder to arrange for him or her to deliver his or her certificate to verify ownership.
As a result, the stockholder then had an &ldquo;option window&rdquo; after the completion of the business combination during which
he or she could monitor the price of the company&rsquo;s stock in the market. If the price rose above the redemption price, he
or she could sell his or her shares in the open market before actually delivering his or her shares to the company for cancellation.
As a result, the redemption rights, to which stockholders were aware they needed to commit before the stockholder meeting, would
become &ldquo;option&rdquo; rights surviving past the completion of the business combination until the redeeming holder delivered
its certificate. The requirement for physical or electronic delivery prior to the meeting ensures that a redeeming holder&rsquo;s
election to redeem is irrevocable once the business combination is approved.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Any
request to redeem such shares, once made, may be withdrawn at any time up to the date set forth in the tender offer materials
or the date of the stockholder meeting set forth in our proxy materials, as applicable. Furthermore, if a holder of a public share
delivered its certificate in connection with an election of redemption rights and subsequently decides prior to the applicable
date not to elect to exercise such rights, such holder may simply request that the transfer agent return the certificate (physically
or electronically). It is anticipated that the funds to be distributed to holders of our public shares electing to redeem their
shares will be distributed promptly after the completion of our initial business combination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
our initial business combination is not approved or completed for any reason, then our public stockholders who elected to exercise
their redemption rights would not be entitled to redeem their shares for the applicable pro rata share of the trust account. In
such case, we will promptly return any certificates delivered by public holders who elected to redeem their shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
our initial business combination is not completed, we may continue to try to complete a business combination with a different
target until 18 months from the closing of this offering.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Redemption
of public shares and liquidation if no initial business combination</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
will have only 18 months (or up to 24 months from the closing of this offering if we extend the period of time to consummate a
business combination, as described in more detail in this prospectus) from the closing of this offering to complete our initial
business combination. If we are unable to complete our initial business combination within such&nbsp;18-month&nbsp;period (or
up to 24 months from the closing of this offering if we extend the period of time to consummate a business combination, as described
in more detail in this prospectus), we will: (i)&nbsp;cease all operations except for the purpose of winding up, (ii)&nbsp;as
promptly as reasonably possible but not more than ten business days thereafter, redeem the public shares, at a&nbsp;per-share&nbsp;price,
payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest (less up to $100,000 of
interest to pay dissolution expenses, which interest shall be net of taxes payable) divided by the number of then outstanding
public shares, which redemption will completely extinguish public stockholders&rsquo; rights as stockholders (including the right
to receive further liquidation distributions, if any), subject to applicable law, and (iii)&nbsp;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. There will be no redemption rights or liquidating distributions with respect to our warrants, which will expire worthless
if we fail to complete our initial business combination within the&nbsp;18-month&nbsp;time period (or up to 24 months from the
closing of this offering if we extend the period of time to consummate a business combination, as described in more detail in
this prospectus).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
initial stockholders have agreed to waive their rights to liquidating distributions from the trust account with respect to their
founder shares if we fail to complete our initial business combination within 18 months (or up to 24 months from the closing of
this offering if we extend the period of time to consummate a business combination, as described in more detail in this prospectus)
from the closing of this offering. However, if our initial stockholders acquire public shares in or after this offering, they
will be entitled to liquidating distributions from the trust account with respect to such public shares if we fail to complete
our initial business combination within the allotted&nbsp;18-month&nbsp;(or up to 24 months from the closing of this offering
if we extend the period of time to consummate a business combination, as described in more detail in this prospectus)time period.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
sponsors, officers and directors have agreed, pursuant to a written letter agreement with us, that they will not propose any amendment
to our amended and restated certificate of incorporation that would affect (i)&nbsp;the substance or timing of our obligation
to redeem 100% of our public shares if we do not complete our initial business combination within 18 months from the closing of
this offering or (ii)&nbsp;with respect to any other provision relating to stockholders&rsquo; rights or&nbsp;pre-business&nbsp;combination
activity, unless we provide our public stockholders with the opportunity to redeem their shares of common stock upon approval
of any such amendment at a&nbsp;per-share&nbsp;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.
However, we may not redeem our public shares in an amount that would cause our net tangible assets to be less than $5,000,001
both immediately before and after the consummation of our initial business combination (so that we are not subject to the SEC&rsquo;s
&ldquo;penny stock&rdquo; rules). If this optional redemption right is exercised with respect to an excessive number of public
shares such that we cannot satisfy the net tangible asset requirement (described above), we would not proceed with the amendment
or the related redemption of our public shares at such time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
expect that all costs and expenses associated with implementing our plan of dissolution, as well as payments to any creditors,
will be funded from amounts remaining out of the $500,000 of proceeds held outside the trust account, although we cannot assure
you that there will be sufficient funds for such purpose. However, if those funds are not sufficient to cover the costs and expenses
associated with implementing our plan of dissolution, to the extent that there is any interest accrued in the trust account not
required to pay taxes, we may request the trustee to release to us an additional amount of up to $100,000 of such accrued interest
to pay those costs and expenses.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
we were to expend all of the net proceeds of this offering and the private placement, other than the proceeds deposited in the
trust account, and without taking into account interest, if any, earned on the trust account, the&nbsp;per-share&nbsp;redemption
amount received by stockholders upon our dissolution would be approximately $10.00. The proceeds deposited in the trust account
could, however, become subject to the claims of our creditors which would have higher priority than the claims of our public stockholders.
We cannot assure you that the actual&nbsp;per-share&nbsp;redemption amount received by stockholders will not be substantially
less than $10.00. Under Section&nbsp;281(b) of the DGCL, our plan of dissolution must provide for all claims against us to be
paid in full or make provision for payments to be made in full, as applicable, if there are sufficient assets. These claims must
be paid or provided for before we make any distribution of our remaining assets to our stockholders. While we intend to pay such
amounts, if any, we cannot assure you that we will have funds sufficient to pay or provide for all creditors&rsquo; claims.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Although
we will seek to have all vendors, service providers, prospective target businesses or other entities with which we do business
execute agreements with us waiving any right, title, interest or claim of any kind in or to any monies held in the trust account
for the benefit of our public stockholders, there is no guarantee that they will execute such agreements or even if they execute
such agreements that they would be prevented from bringing claims against the trust account including but not limited to fraudulent
inducement, breach of fiduciary responsibility or other similar claims, as well as claims challenging the enforceability of the
waiver, in each case in order to gain an advantage with respect to a claim against our assets, including the funds held in the
trust account. If any third party refuses to execute an agreement waiving such claims to the monies held in the trust account,
our management will perform an analysis of the alternatives available to it and will only enter into an agreement with a third
party that has not executed a waiver if management believes that such third party&rsquo;s engagement would be significantly more
beneficial to us than any alternative. Examples of possible instances where we may engage a third party that refuses to execute
a waiver include the engagement of a third party consultant whose particular expertise or skills are believed by management to
be significantly superior to those of other consultants that would agree to execute a waiver or in cases where management is unable
to find a service provider willing to execute a waiver. In addition, there is no guarantee that such entities will agree to waive
any claims they may have in the future as a result of, or arising out of, any negotiations, contracts or agreements with us and
will not seek recourse against the trust account for any reason. In order to protect the amounts held in the trust account, our
sponsors have agreed that it will be liable to us if and to the extent any claims by a vendor for services rendered or products
sold to us, or a prospective target business with which we have discussed entering into a transaction agreement, reduce the amount
of funds in the trust account to below (i) $10.00 per public share or (ii)&nbsp;such lesser amount per public share held in the
trust account as of the date of the liquidation of the trust account, due to reductions in value of the trust assets, in each
case net of the amount of interest which may be withdrawn to pay taxes, except as to any claims by a third party who executed
a waiver of any and all rights to seek access to the trust account and except as to any claims under our indemnity of the underwriters
of this offering against certain liabilities, including liabilities under the Securities Act. In the event that an executed waiver
is deemed to be unenforceable against a third party, then our sponsors will not be responsible to the extent of any liability
for such third-party claims. We have not asked our sponsors to reserve for such indemnification obligations, and our sponsors&rsquo;
only assets are securities of our company. Therefore, we cannot assure you that our sponsors would be able to satisfy those obligations.
We believe the likelihood of our sponsors having to indemnify the trust account is limited because we will endeavor to have all
vendors and prospective target businesses as well as other entities execute agreements with us waiving any right, title, interest
or claim of any kind in or to monies held in the trust account.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
the event that the proceeds in the trust account are reduced below (i) $10.00 per public share or (ii)&nbsp;such lesser amount
per public share held in the trust account as of the date of the liquidation of the trust account, due to reductions in value
of the trust assets, in each case net of the amount of interest which may be withdrawn to pay taxes, and our sponsors assert that
it is unable to satisfy its indemnification obligations or that it has no indemnification obligations related to a particular
claim, our independent directors would determine whether to take legal action against our sponsors to enforce its indemnification
obligations. While we currently expect that our independent directors would take legal action on our behalf against our sponsors
to enforce its indemnification obligations to us, it is possible that our independent directors in exercising their business judgment
may choose not to do so in any particular instance. Accordingly, we cannot assure you that due to claims of creditors the actual
value of the&nbsp;per-share&nbsp;redemption price will not be substantially less than $10.00 per share.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
will seek to reduce the possibility that our sponsors will have to indemnify the trust account due to claims of creditors by endeavoring
to have all vendors, service providers, prospective target businesses or other entities with which we do business execute agreements
with us waiving any right, title, interest or claim of any kind in or to monies held in the trust account. Our sponsors will also
not be liable as to any claims under our indemnity of the underwriters of this offering against certain liabilities, including
liabilities under the Securities Act. We will have access to up to $500,000 from the proceeds of this offering with which to pay
any such potential claims (including costs and expenses incurred in connection with our liquidation, currently estimated to be
no more than approximately $100,000). In the event that we liquidate and it is subsequently determined that the reserve for claims
and liabilities is insufficient, stockholders who received funds from our trust account could be liable for claims made by creditors.
In the event that our offering expenses exceed our estimate of $500,000, we may fund such excess with funds from the funds not
to be held in the trust account. In such case, the amount of funds we intend to be held outside the trust account would decrease
by a corresponding amount. Conversely, in the event that the offering expenses are less than our estimate of $500,000, the amount
of funds we intend to be held outside the trust account would increase by a corresponding amount.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Under
the DGCL, stockholders may be held liable for claims by third parties against a corporation to the extent of distributions received
by them in a dissolution. The pro rata portion of our trust account distributed to our public stockholders upon the redemption
of our public shares in the event we do not complete our initial business combination within 18 months (or up to 24 months from
the closing of this offering if we extend the period of time to consummate a business combination, as described in more detail
in this prospectus) from the closing of this offering may be considered a liquidation distribution under Delaware law. If the
corporation complies with certain procedures set forth in Section&nbsp;280 of the DGCL intended to ensure that it makes reasonable
provision for all claims against it, including a&nbsp;60-day&nbsp;notice period during which any third-party claims can be brought
against the corporation, a&nbsp;90-day&nbsp;period during which the corporation may reject any claims brought, and an additional
150 day waiting period before any liquidated distributions are made to stockholders, any liability of stockholders with respect
to a liquidating distribution is limited to the lesser of such stockholder&rsquo;s pro rata share of the claim or the amount distributed
to the stockholder, and any liability of the stockholder would be barred after the third anniversary of the dissolution. However,&nbsp;
it is our intention to redeem our public shares as soon as reasonably possible following the 18th month (or up to the 24th month
if we extend the time period in which to consummate a business combination as described in more detail in this prospectus) from
the closing of this offering in the event we do not complete a business combination and, therefore, we do not intend to comply
with those procedures.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Because
we will not be complying with Section&nbsp;280, Section&nbsp;281(b) of the DGCL requires us to adopt a plan, based on facts known
to us at such time that will provide for our payment of all existing and pending claims or claims that may be potentially brought
against us within the subsequent 10 years. However, because we are a blank check company, rather than an operating company, and
our operations will be limited to searching for prospective target businesses to acquire, the only likely claims to arise would
be from our vendors (such as lawyers, investment bankers, etc.) or prospective target businesses. As described above, pursuant
to the obligation contained in our underwriting agreement, we will seek to have all vendors, service providers, prospective target
businesses or other entities with which we do business execute agreements with us waiving any right, title, interest or claim
of any kind in or to any monies held in the trust account.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
a result of this obligation, the claims that could be made against us are significantly limited and the likelihood that any claim
that would result in any liability extending to the trust account is remote. Further, our sponsors may be liable only to the extent
necessary to ensure that the amounts in the trust account are not reduced below (i) $10.00 per public share or (ii)&nbsp;such
lesser amount per public share held in the trust account as of the date of the liquidation of the trust account, due to reductions
in value of the trust assets, in each case net of the amount of interest withdrawn to pay taxes, and will not be liable as to
any claims under our indemnity of the underwriters of this offering against certain liabilities, including liabilities under the
Securities Act. In the event that an executed waiver is deemed to be unenforceable against a third party, our sponsors will not
be responsible to the extent of any liability for such third-party claims.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
we file a bankruptcy petition or an involuntary bankruptcy petition is filed against us that is not dismissed, the proceeds held
in the trust account could be subject to applicable bankruptcy law, and may be included in our bankruptcy estate and subject to
the claims of third parties with priority over the claims of our stockholders. To the extent any bankruptcy claims deplete the
trust account, we cannot assure you we will be able to return $10.00 per share to our public stockholders. Additionally, if we
file a bankruptcy petition or an involuntary bankruptcy petition is filed against us that is not dismissed, any distributions
received by stockholders could be viewed under applicable debtor/creditor and/or bankruptcy laws as either a &ldquo;preferential
transfer&rdquo; or a &ldquo;fraudulent conveyance.&rdquo; As a result, a bankruptcy court could seek to recover some or all amounts
received by our stockholders. Furthermore, our board of directors may be viewed as having breached its fiduciary duty to our creditors
and/or may have acted in bad faith, and thereby exposing itself and our company to claims of punitive damages, by paying public
stockholders from the trust account prior to addressing the claims of creditors. We cannot assure you that claims will not be
brought against us for these reasons.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
public stockholders will be entitled to receive funds from the trust account only upon the earliest to occur of: (i)&nbsp;the
completion of our initial business combination, (ii)&nbsp;the redemption of any public shares properly tendered in connection
with a stockholder vote to amend our amended and restated certificate of incorporation (A)&nbsp;to modify the substance or timing
of our obligation to redeem 100% of our public shares if we do not complete our initial business combination within 18 months
(or up to 24 months from the closing of this offering if we extend the period of time to consummate a business combination, as
described in more detail in this prospectus) from the closing of this offering or (B)&nbsp;with respect to any other provision
relating to stockholders&rsquo; rights or&nbsp;pre-business&nbsp;combination activity, and (iii)&nbsp;the redemption of all of
our public shares if we are unable to complete our initial business combination within 18 months from the closing of this offering,
subject to applicable law. In no other circumstances will a stockholder have any right or interest of any kind to or in the trust
account. In the event we seek stockholder approval in connection with our initial business combination, a stockholder&rsquo;s
voting in connection with the business combination alone will not result in a stockholder&rsquo;s redeeming its shares to us for
an applicable pro rata share of the trust account. Such stockholder must have also exercised its redemption rights described above.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Amended
and Restated Certificate of Incorporation</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
amended and restated certificate of incorporation will contain certain requirements and restrictions relating to this offering
that will apply to us until the consummation of our initial business combination. If we seek to amend any provisions of our amended
and restated certificate of incorporation relating to stockholders&rsquo; rights or&nbsp;pre-business&nbsp;combination activity,
we will provide dissenting public stockholders with the opportunity to redeem their public shares in connection with any such
vote. Specifically, our amended and restated certificate of incorporation will provide, among other things, that:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">prior
                                         to the consummation of our initial business combination, we shall either (1)&nbsp;seek
                                         stockholder approval of our initial business combination at a meeting called for such
                                         purpose at which stockholders may seek to redeem their shares, regardless of whether
                                         they vote for or against the proposed business combination, into their pro rata share
                                         of the aggregate amount then on deposit in the trust account, including interest (which
                                         interest shall be net of taxes payable) or (2)&nbsp;provide our public stockholders with
                                         the opportunity to tender their shares to us by means of a tender offer (and thereby
                                         avoid the need for a stockholder vote) for an amount equal to their pro rata share of
                                         the aggregate amount then on deposit in the trust account, including interest (which
                                         interest shall be net of taxes payable) in each case subject to the limitations described
                                         herein;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">we
                                         will consummate our initial business combination only if we have net tangible assets
                                         of at least $5,000,001 either immediately before or after such consummation and, solely
                                         if we seek stockholder approval, a majority of the outstanding shares of common stock
                                         voted are voted in favor of the business combination;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">if
                                         our initial business combination is not consummated within 18 months (or up to 24 months
                                         from the closing of this offering if we extend the period of time to consummate a business
                                         combination, as described in more detail in this prospectus) from the closing of this
                                         offering, then our existence will terminate and we will distribute all amounts in the
                                         trust account; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">prior
                                         to our initial business combination, we may not issue additional shares of capital stock
                                         that would entitle the holders thereof to (i)&nbsp;receive funds from the trust account
                                         or (ii)&nbsp;vote on any initial business combination.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">These
provisions cannot be amended without the approval of holders of 65% of our common stock. In the event we seek stockholder approval
in connection with our initial business combination, our amended and restated certificate of incorporation will provide that we
may consummate our initial business combination only if approved by a majority of the shares of common stock voted by our stockholders
at a duly held stockholders meeting.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Comparison
of redemption or purchase prices in connection with our initial business combination and if we fail to complete our business combination.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
following table compares the redemptions and other permitted purchases of public shares that may take place in connection with
the completion of our initial business combination and if we are unable to complete our business combination within 18 months
(or up to 24 months from the closing of this offering if we extend the period of time to consummate a business combination, as
described in more detail in this prospectus) from the closing of this offering.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0pt 0pt 1.5pt; text-indent: 0pt; width: 25.48%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt 0pt 1.5pt; text-indent: 0pt; width: 1.48%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 22.48%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Redemptions
    in Connection<BR>
    with our Initial<BR>
    Business Combination</B></FONT></TD>
    <TD STYLE="padding: 0pt 0pt 1.5pt; text-indent: 0pt; width: 1.48%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 24.92%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Other&nbsp;Permitted&nbsp;Purchases<BR>
    of&nbsp;Public&nbsp;Shares by our<BR>
    Affiliates</B></FONT></TD>
    <TD STYLE="padding: 0pt 0pt 1.5pt; text-indent: 0pt; width: 1.48%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 22.68%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Redemptions&nbsp;if&nbsp;we&nbsp;fail&nbsp;to<BR>
    Complete an Initial<BR>
    Business Combination</B></FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Calculation&nbsp;of
    redemption&nbsp;price</B></FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Redemptions
    at the time of our initial business combination may be made pursuant to a tender offer or in connection with a stockholder
    vote. The redemption price will be the same whether we conduct redemptions pursuant to a tender offer or in connection with
    a stockholder vote. In either case, our public stockholders may redeem their public shares for cash equal to the aggregate
    amount then on deposit in the trust account as of two business days prior to the consummation of the initial business combination
    (which is initially anticipated to be $10.00 per share), including interest (which interest shall be net of taxes payable)
    divided by the number of then outstanding public shares, subject to the limitation that no redemptions will take place if
    all of the redemptions would cause our net tangible assets to be less than $ 5,000,001 both immediately before and after the
    consummation of our initial business combination and any limitations (including but not limited to cash requirements) agreed
    to in connection with the negotiation of terms of a proposed business combination.</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
    we seek stockholder approval of our initial business combination, our initial stockholders, directors, officers, advisors
    or their affiliates may purchase shares in privately negotiated transactions or in the open market either prior to or following
    completion of our initial business combination. Such purchases will only be made to the extent such purchases are able to
    be made in compliance with Rule&nbsp;10b-18,&nbsp;which is a safe harbor from liability for manipulation under Section&nbsp;9(a)(2)
    and&nbsp;Rule&nbsp;10b-5&nbsp;of the Exchange Act. None of the funds in the trust account will be used to purchase shares
    in such transactions.</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
    we are unable to complete our business combination within 18 months from the closing of this offering, we will redeem all
    public shares at a&nbsp;per-share&nbsp;price, payable in cash, equal to the aggregate amount then on deposit in the trust
    account (which is initially anticipated to be $10.00 per share), including interest (less up to $100,000 of interest to pay
    dissolution expenses, which interest shall be net of taxes payable) divided by the number of then outstanding public shares.</FONT></TD></TR>

<TR>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Impact
    to remaining stockholders</B></FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
    redemptions in connection with our initial business combination will reduce the book value per share for our remaining stockholders,
    who will bear the burden of paying certain marketing fees to&nbsp;I-Bankers&nbsp;and interest withdrawn in order to pay taxes
    (to the extent not paid from amounts accrued as interest on the funds held in the trust account).</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
    the permitted purchases described above are made, there will be no impact to our remaining stockholders because the purchase
    price would not be paid by us.</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
    redemption of our public shares if we fail to complete our initial business combination will reduce the book value per share
    for the shares held by our initial stockholders, who will be our only remaining stockholders after such redemptions</FONT></TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Comparison
of This Offering to Those of Blank Check Companies Subject to Rule 419</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
following table compares the terms of this offering to the terms of an offering by a blank check company subject to the provisions
of Rule 419. This comparison assumes that the gross proceeds, underwriting commissions and underwriting expenses of our offering
would be identical to those of an offering undertaken by a company subject to Rule 419, and that the underwriters will not exercise
the underwriters&rsquo; over-allotment option. None of the provisions of Rule 419 apply to our offering.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0pt 0pt 1.5pt; text-indent: 0pt; width: 35.02%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt 0pt 1.5pt; text-indent: 0pt; width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 32%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Terms
    of Our Offering</B></FONT></TD>
    <TD STYLE="padding: 0pt 0pt 1.5pt; text-indent: 0pt; width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 28.98%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Terms
    Under a Rule 419 Offering</B></FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Escrow
    of offering proceeds</B></FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
                                         rules of Nasdaq provide that at least 90% of the gross proceeds from this offering and
                                         the private placement be deposited in a trust account.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$100,000,000
        of the net proceeds of this offering and the sale of the private placement warrants will be deposited into a trust account
        located in the United States with Continental Stock Transfer&nbsp;&amp; Trust Company acting as trustee.</FONT></P></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Approximately
    $_________ of the offering proceeds, representing the gross proceeds of this offering less allowable underwriting commissions,
    expenses and company deductions under Rule&nbsp;419, would be required to be deposited into either an escrow account with
    an insured depositary institution or in a separate bank account established by a broker-dealer in which the broker-dealer
    acts as trustee for persons having the beneficial interests in the account.</FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Investment
    of net proceeds</B></FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">$100,000,000
    of the net offering proceeds and the proceeds from the sale of the private placement warrants held in trust will be invested
    only in U.S. government treasury bills with a maturity of 180 days or less or in money market funds meeting certain conditions
    under Rule&nbsp;2a-7&nbsp;under the Investment Company Act which invest only in direct U.S. government treasury obligations.</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Proceeds
    could be invested only in specified securities such as a money market fund meeting conditions of the Investment Company Act
    or in securities that are direct obligations of, or obligations guaranteed as to principal or interest by, the United&nbsp;States.</FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Receipt
    of interest on escrowed funds</B></FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Interest
    on proceeds from the trust account to be paid to stockholders is reduced by (i)&nbsp;any taxes paid or payable, and (ii)&nbsp;in
    the event of our liquidation for failure to complete our initial business combination within the allotted time, up to $100,000
    of net interest that may be released to us should we have no or insufficient working capital to fund the costs and expenses
    of our dissolution and liquidation.</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Interest
    on funds in escrow account would be held for the sole benefit of investors, unless and only after the funds held in escrow
    were released to us in connection with our completion of a business combination.</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="margin: 0"></P>

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    <DIV STYLE=" margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0pt 0pt 1.5pt; text-indent: 0pt; width: 35.02%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt 0pt 1.5pt; text-indent: 0pt; width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 32%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Terms
    of Our Offering</B></FONT></TD>
    <TD STYLE="padding: 0pt 0pt 1.5pt; text-indent: 0pt; width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 28.98%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Terms
    Under a Rule 419 Offering</B></FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Limitation
    on fair value or net assets of target business</B></FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
    Nasdaq rules require that our initial business combination must be with one or more target businesses that together have an
    aggregate fair market value equal to at least 80% of the value of the assets held in the trust account (excluding certain
    marketing fees payable to&nbsp;I-Bankers&nbsp;and taxes payable on the interest earned on the trust account) at the time of
    our signing a definitive agreement in connection with our initial business combination. So long as we obtain and maintain
    a listing for our securities on Nasdaq, we will be required to comply with such rule.</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
    fair value or net assets of a target business must represent at least 80% of the maximum offering proceeds.</FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 0pt; vertical-align: top; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD></TR>
<TR>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Trading&nbsp;of&nbsp;securities&nbsp;issued</B></FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
    units are expected to begin trading on or promptly after the date of this prospectus. The common stock and warrants comprising
    the units will begin separate trading on the 52<SUP>nd</SUP>&nbsp;day following the date of this prospectus (or, if such date
    is not a business day, the following business day) unless&nbsp;I-Bankers&nbsp;informs us of its decision to allow earlier
    separate trading, subject to our having filed the Current Report on Form&nbsp;8-K&nbsp;described below and having issued a
    press release announcing when such separate trading will begin. We will file the Current Report on Form&nbsp;8-K&nbsp;promptly
    after the closing of this offering, which is anticipated to take place three business days from the date of this prospectus.
    If the underwriters&rsquo; over-allotment option is exercised following the initial filing of such Current Report on Form&nbsp;8-K,&nbsp;a
    second or amended Current Report on Form&nbsp;8-K&nbsp;will be filed to provide updated financial information to reflect the
    exercise of the underwriters&rsquo; over-allotment option.</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">No
    trading of the units or the underlying common stock and warrants would be permitted until the completion of a business combination.
    During this period, the securities would be held in the escrow or trust account.</FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Exercise&nbsp;of&nbsp;the&nbsp;warrants</B></FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
    warrants cannot be exercised until the later of 30 days after the completion of our initial business combination or 12 months
    from the closing of this offering.</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
    warrants could be exercised prior to the completion of a business combination, but securities received and cash paid in connection
    with the exercise would be deposited in the escrow or trust account.</FONT></TD></TR>
</TABLE>

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<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 36%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 32%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Terms
    of Our Offering</B></FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 28%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Terms
    Under a Rule 419 Offering</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Election&nbsp;to&nbsp;remain&nbsp;an
    investor</B></FONT></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
        will provide our public 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 as of two business days prior to the consummation of
        our initial business combination, including interest, which interest shall be net of taxes payable, upon the completion
        of our initial business combination, subject to the limitations described herein. We may not be required by law to hold
        a stockholder vote. If we are not required by law and do not otherwise decide to hold a stockholder vote, 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 which will contain substantially the same financial and other information
        about the initial business combination and the redemption rights as is required under the SEC&rsquo;s proxy rules. If,
        however, we hold a stockholder vote, 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 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.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Additionally,
        each public stockholder may elect to redeem its public shares irrespective of whether they vote for or against the proposed
        transaction.</FONT></P></TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A prospectus containing
    information pertaining to the business combination required by the SEC would be sent to each investor. Each investor would
    be given the opportunity to notify the company in writing, within a period of no less than 20 business days and no more than
    45 business days from the effective date of a post-effective amendment to the company&rsquo;s registration statement, to decide
    if he, she or it elects to remain a stockholder of the company or require the return of his, her or its investment. If the
    company has not received the notification by the end of the 45<SUP>th</SUP>&nbsp;business day, funds and interest or dividends,
    if any, held in the trust or escrow account are automatically returned to the stockholder. Unless a sufficient number of investors
    elect to remain investors, all funds on deposit in the escrow account must be returned to all of the investors and none of
    the securities are issued.</FONT></TD></TR>
</TABLE>

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<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0pt 0pt 1.5pt; text-indent: 0pt; width: 35.02%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt 0pt 1.5pt; text-indent: 0pt; width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 32%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Terms
    of Our Offering</B></FONT></TD>
    <TD STYLE="padding: 0pt 0pt 1.5pt; text-indent: 0pt; width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 28.98%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Terms
    Under a Rule 419 Offering</B></FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Business&nbsp;combination
    deadline</B></FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
    we are unable to complete an initial business combination within 18 months (or up to 24 months from the closing of this offering
    if we extend the period of time to consummate a business combination, as described in more detail in this prospectus) from
    the closing of this offering, we will (i)&nbsp;cease all operations except for the purpose of winding up, (ii)&nbsp;as promptly
    as reasonably possible but not more than ten business days thereafter, redeem 100% of the public shares, at a&nbsp;per-share&nbsp;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&rsquo; rights as stockholders (including the
    right to receive further liquidation distributions, if any), subject to applicable law, and (iii)&nbsp;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.</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
    an acquisition has not been completed within 18 months after the effective date of the company&rsquo;s registration statement,
    funds held in the trust or escrow account are returned to investors.</FONT></TD></TR>
</TABLE>

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<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0pt 0pt 1.5pt; text-indent: 0pt; width: 35.02%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt 0pt 1.5pt; text-indent: 0pt; width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 32%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Terms
    of Our Offering</B></FONT></TD>
    <TD STYLE="padding: 0pt 0pt 1.5pt; text-indent: 0pt; width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 28.98%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Terms
    Under a Rule 419 Offering</B></FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Release
    of funds</B></FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Except
    with respect to interest earned on the funds held in the trust account that may be released to us to pay our taxes, if any,
    the proceeds from this offering will not be released from the trust account until the earliest of (i)&nbsp;the completion
    of our initial business combination, (ii)&nbsp;the redemption of any public shares properly tendered in connection with a
    stockholder vote to amend and restate our amended and restated certificate of incorporation (A)&nbsp;to modify the substance
    or timing of our obligation to redeem 100% of our public shares if we do not complete our initial business combination within
    18 months (or up to 24 months from the closing of this offering if we extend the period of time to consummate a business combination,
    as described in more detail in this prospectus) from the closing of this offering or (B)&nbsp;with respect to any other provision
    relating to stockholders&rsquo; rights or&nbsp;pre-business&nbsp;combination activity and (iii)&nbsp;the redemption of all
    of our public shares if we are unable to complete our business combination within 18 months (or up to 24 months from the closing
    of this offering if we extend the period of time to consummate a business combination, as described in more detail in this
    prospectus) from the closing of this offering, subject to applicable law.</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
    proceeds held in the escrow account are not released until the earlier of the completion of a business combination or the
    failure to effect a business combination within the allotted time.</FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 0pt; vertical-align: top; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Limitation&nbsp;on
                                         redemption</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>rights
        of stockholders</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>holding
        15% or more of</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>the
        shares sold in this offering if we hold a stockholder vote</B></FONT></P></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">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 will
    provide 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 &ldquo;group&rdquo; (as defined under Section&nbsp;13 of the Exchange Act), will be restricted
    from seeking redemption rights with respect Excess Shares (an aggregate of 15% or more of the shares sold in this offering).
    Our public stockholders&rsquo; inability to redeem Excess Shares will reduce their influence over our ability to complete
    our business combination and they could suffer a material loss on their investment in us if they sell Excess Shares in open
    market transactions.</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Most
    blank check companies provide no restrictions on the ability of stockholders to redeem shares based on the number of shares
    held by such stockholders in connection with an initial business combination.</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0pt 0pt 1.5pt; text-indent: 0pt; width: 35.02%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt 0pt 1.5pt; text-indent: 0pt; width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 32%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Terms
    of Our Offering</B></FONT></TD>
    <TD STYLE="padding: 0pt 0pt 1.5pt; text-indent: 0pt; width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 28.98%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Terms
    Under a Rule 419 Offering</B></FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Tendering
    stock certificates in connection with a tender offer or redemption rights</B></FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
    may require our public stockholders seeking to exercise their redemption rights, whether they are record holders or hold their
    shares in &ldquo;street name,&rdquo; to either tender their certificates to our transfer agent prior to the date set forth
    in the tender offer documents mailed to such holders, or up to two business days prior to the vote on the proposal to approve
    the business combination in the event we distribute proxy materials, or to deliver their shares to the transfer agent electronically
    using Depository Trust Company&rsquo;s DWAC (Deposit/Withdrawal At Custodian) System, at the holder&rsquo;s option. The tender
    offer or proxy materials, as applicable, that we will furnish to holders of our public shares in connection with our initial
    business combination will indicate whether we are requiring public stockholders to satisfy such delivery requirements. Accordingly,
    a public stockholder would have from the time we send out our tender offer materials until the close of the tender offer period,
    or up to two days prior to the vote on the business combination if we distribute proxy materials, as applicable, to tender
    its shares if it wishes to seek to exercise its redemption rights.</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
    order to perfect redemption rights in connection with their business combinations, holders could vote against a proposed business
    combination and check a box on the proxy card indicating such holders were seeking to exercise their redemption rights. After
    the business combination was approved, the company would contact such stockholders to arrange for them to deliver their certificate
    to verify ownership.</FONT></TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Competition</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
identifying, evaluating and selecting a target business for our initial business combination, we may encounter intense competition
from other entities having a business objective similar to ours, including other blank check companies, private equity groups,
venture capital funds leveraged buyout funds, and operating businesses seeking strategic acquisitions. Many of these entities
are well established and have significant experience identifying and effecting business combinations directly or through affiliates.
Moreover, many of these competitors possess greater financial, technical, human and other resources than us. Our ability to acquire
larger target businesses will be limited by our available financial resources. This inherent limitation gives others an advantage
in pursuing the acquisition of a target business. Furthermore, the requirement that, so long as our securities are listed on Nasdaq,
we acquire a target business or businesses having a fair market value equal to at least 80% of the value of the trust account
(less certain advisory fees to I-Bankers&nbsp;and taxes payable on interest earned and less any interest earned thereon that is
released to us for taxes) at the time of the agreement to enter into the business combination, our obligation to pay cash in connection
with our public stockholders who exercise their redemption rights, and our outstanding rights and warrants and the potential future
dilution they represent, may not be viewed favorably by certain target businesses. Any of these factors may place us at a competitive
disadvantage in successfully negotiating our initial business combination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Facilities</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
currently maintain our executive offices at 300 Tice Boulevard, Suite 315, Woodcliff Lake, NJ 07677. Currently we are not paying
any rent for the use of this office. However, that might change in the coming months. We believe, based on rents and fees for
similar services in Woodcliff, NJ, that, in the event of our having to pay a rent, that will not be more than $3,000 per month.
We consider our current office space adequate for our current operations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Employees</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
currently have three officers. These individuals are not obligated to devote any specific number of hours to our matters but they
intend to devote as much of their time as they deem necessary to our affairs until we have completed our initial business combination.
The amount of time they will devote in any time period will vary based on whether a target business has been selected for our
initial business combination and the stage of the business combination process we are in. We do not intend to have any full-time&nbsp;employees
prior to the consummation of our initial business combination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Periodic
Reporting and Financial Information</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
will register our units, common stock and warrants under the Exchange Act and have reporting obligations, including the requirement
that we file annual, quarterly and current reports with the SEC. In accordance with the requirements of the Exchange Act, our
annual reports will contain financial statements audited and reported on by our independent registered public auditors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
will provide stockholders with audited financial statements of the prospective target business as part of the tender offer materials
or proxy solicitation materials sent to stockholders to assist them in assessing the target business. In all likelihood, these
financial statements will need to be prepared in accordance with GAAP. We cannot assure you that any particular target business
identified by us as a potential acquisition candidate will have financial statements prepared in accordance with GAAP or that
the potential target business will be able to prepare its financial statements in accordance with GAAP. To the extent that this
requirement cannot be met, we may not be able to acquire the proposed target business. While this may limit the pool of potential
acquisition candidates, we do not believe that this limitation will be material.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
will be required to evaluate our internal control procedures for the fiscal year ending December&nbsp;31, 2021 as required by
the Sarbanes-Oxley Act. Only in the event we are deemed to be a large accelerated filer or an accelerated filer will we be required
to have our internal control procedures audited. A target company may not be in compliance with the provisions of the Sarbanes-Oxley
Act regarding adequacy of their internal controls. The development of the internal controls of any such entity to achieve compliance
with the Sarbanes-Oxley Act may increase the time and costs necessary to complete any such acquisition.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
are an &ldquo;emerging growth company,&rdquo; as defined in Section&nbsp;2(a) of the Securities Act, as modified by the JOBS Act.
As such, we are eligible to take advantage of certain exemptions from various reporting requirements that are applicable to other
public companies that are not &ldquo;emerging growth companies&rdquo; including, but not limited to, not being required to comply
with the auditor attestation requirements of Section&nbsp;404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding
executive compensation in our periodic reports and proxy statements, and exemptions from the requirements of holding a&nbsp;non-binding&nbsp;advisory
vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. If some investors
find our securities less attractive as a result, there may be a less active trading market for our securities and the prices of
our securities may be more volatile.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
addition, Section&nbsp;107 of the JOBS Act also provides that an &ldquo;emerging growth company&rdquo; can take advantage of the
extended transition period provided in Section&nbsp;7(a)(2)(B) of the Securities Act for complying with new or revised accounting
standards. In other words, an &ldquo;emerging growth company&rdquo; can delay the adoption of certain accounting standards until
those standards would otherwise apply to private companies. We intend to take advantage of the benefits of this extended transition
period.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
will remain an emerging growth company until the earlier of (1)&nbsp;the last day of the fiscal year (a)&nbsp;following the fifth
anniversary of the completion of this offering, (b)&nbsp;in which we have total annual gross revenue of at least $1.07&nbsp;billion,
or (c)&nbsp;in which we are deemed to be a large accelerated filer, which means the market value of our common stock that is held
by&nbsp;non-affiliates&nbsp;exceeds $700&nbsp;million as of the prior June 30<SUP>th</SUP>, and (2)&nbsp;the date on which we
have issued more than $1.00&nbsp;billion in&nbsp;non-convertible&nbsp;debt securities during the prior three-year period. References
herein to &ldquo;emerging growth company&rdquo; shall have the meaning associated with it in the JOBS Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Additionally,
we are a &ldquo;smaller reporting company&rdquo; as defined in Rule&nbsp;10(f)(1) of Regulation S-K. Smaller reporting companies
may take advantage of certain reduced disclosure obligations, including, among other things, providing only two years of audited
financial statements. We will remain a smaller reporting company until the last day of the fiscal year in which (1)&nbsp;the market
value of our common stock held by non-affiliates&nbsp;exceeds $250&nbsp;million as of the end of the prior June 30<SUP>th</SUP>,
or (2)&nbsp;our annual revenues exceeded $100&nbsp;million during such completed fiscal year and the market value of our common
stock held by non-affiliates&nbsp;exceeds $700&nbsp;million as of the prior June 30<SUP>th</SUP>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Legal
Proceedings</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">There
is no material litigation, arbitration or governmental proceeding currently pending against us or any members of our management
team in their capacity as such.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="a_011"></A>MANAGEMENT</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Directors,
Director Nominees and Executive Officers</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
directors, director nominees and officers are as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Name</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Age</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Title</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 30%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Subash
    Menon</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: center; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">55</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 59%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Chairman
    of the Board of Directors and Chief Executive Officer</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Sudeesh
    Yezhuvath</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">51</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Chief
    Operating Officer and Director</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Nicholos
    Hellyer</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">58</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Chief
    Financial Officer</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dr.
    Hossein Eslambolchi</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">63</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director
    Nominee</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dr.
    Kumar Shiralagi</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">58</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director
    Nominee</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Vishant
    Vora</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">53</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director
    Nominee</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Subash Menon has been our Chairman of the Board
of Directors and Chief Executive Officer since January 2021. He is also the Chief Executive Officer of Pelatro Plc, an AIM and
LSE listed entity. Pelatro Plc offers campaign management and loyalty management solutions for telecommunication companies
and these solutions are part of the overall Customer Engagement space within the telecom industry. At Pelatro, Mr. Menon
is responsible for sales, marketing, finance, legal and investor relations. Prior to co-founding Pelatro in 2013, Mr. Menon
had founded and led Subex Limited for 20 years (from 1992 to 2012). Mr. Menon successfully took Subex from startup stage,
through an IPO to a company that generated revenue of over $110 million, with 200 customers across 80 countries. During
that period, Subex completed several acquisitions of companies in the U.S., UK and Canada. Under Mr. Menon&rsquo;s
leadership, Subex achieved several milestones &ndash; the first software product company to list in India, the
first Indian software company to acquire an overseas company and the first Indian company to use GDR as an instrument for
acquisition. For the innovative achievements Mr. Menon achieved at Subex, he was named a &ldquo;Mover &amp; Shaker&rdquo;
in the Indian software industry. Subex also won the &ldquo;NASSCOM Innovation Award&rdquo; and &ldquo;One of the 8 Most innovative
Companies&rdquo; award from NASSCOM. Mr. Menon has a graduate degree in Electrical Engineering from National Institute
of Technology, Durgapur and is a Distinguished Alumnus. Mr. Menon has presented numerous papers on business at international
fora.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Sudeesh Yezhuvath has been a Member of our
Board of Directors and Chief Operating Officer since January 2021. He is also the Chief Operating Officer of Pelatro Plc, an AIM
and LSE listed entity. Pelatro Plc offers campaign management and loyalty management solutions for telecommunication
companies and these solutions are part of the overall Customer Engagement space within the telecom industry. At Pelatro, Mr.
Yezhuvath is responsible for engineering, implementation, customer support, human resources and product management.
Prior to co-founding Pelatro in 2013, Mr. Yezhuvath was the Chief Operating Officer of Subex Limited for 19 years (from 1993 to
2012). During his tenure at Subex and currently at Pelatro, Mr. Yezhuvath has completed acquisitions for which
he was responsible for handling all post-acquisition integration activities. Mr. Yezhuvath is a graduate engineer from
NSS College of Engineering in India and has presented numerous papers on technology at international fora.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Nicholos Hellyer has been our Chief Financial
Officer since January 2021. He is also the Finance Director of Pelatro Plc and is responsible for all financial aspects of the
IPO process, including historic reporting and IFRS conversion. Mr. Hellyer qualified as a Chartered Accountant with KPMG,
London. Mr. Hellyer is a former Senior Investment Banker at UBS, HSBC, and Opus Corporate Finance. Nicholos has advised small
and midcap companies in a broad range of transactions, including IPOs, fundraisings and M&amp;A for growth and entrepreneurial
companies. Mr. Hellyer has held non-executive director roles in companies quoted on the UK AIM and the Swedish Nasdaq First
North markets. He graduated with First Class Honors in Geography and Geology from Kings College, London.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Dr. Hossein Eslambolchi, currently a director
nominee, will serve as an independent director on our board of directors following the completion of this offering.
He is currently the Chairman and CEO of CyberFlow Analytics and 2020 Venture Partners, was Director of Clearwire Corporation from
2010 to 2013 and is on the board of directors for Hyperoffice. Dr. Eslambolchi also serves on the board of advisors
to the University of California San Diego School Of Engineering, Allegis Capital VC, SquareZero, RainStor, Prodapt, Tickets48
and PureWave Networks and serves as a member of the board of trustees for the Shiraz University School of Medical Sciences
in New York City. Dr. Eslambolchi is regarded in the scientific community as an expert in IP network design and reliability,
security, IP technologies, services, IP applications and setting an industry vision for &ldquo;the &ldquo;Concept of One&rdquo;
and the &ldquo;Concept of Zero,&rdquo; which have been used to streamline production, as well as the &ldquo;Concept of None&rdquo;.&nbsp;Dr.
Eslambolchi is also known in the industry for the &ldquo;Eslambolchi Law of Complexity&rdquo;. Dr. Eslambolchi joined AT&amp;T
Bell Laboratories&nbsp;in 1986 and rose to become global CTO and CIO, President and CEO of AT&amp;T Labs and AT&amp;T Global
Network Services and was a 16b officer of the company as of 2001. He also served on AT&amp;T&rsquo;s governing Executive
Committee. Dr. Eslambolchi completed BS, MS, Ph.D. and Post Doc degrees in Applied &amp; Astro Physics along with MD in
Neurosurgery with highest honors from University of California San Diego. Further, he holds over 1,000 patents worldwide; won
&ldquo;AT&amp;T Fellow Award&rdquo; in 1999, AT&amp;T&rsquo;s highest technical honor; won &ldquo;Thomas Alva Edison Inventor
of the Year Award&rdquo; instituted by the New Jersey Inventors Hall of Fame in 1997 and 2013 and is among the Top 100 alumni
in the history of the University of California San Diego.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Dr. Kumar Shiralagi, currently a director
nominee, will serve as an independent director on our board of directors following the completion of this offering. Dr. Shiralagi
has been an investment advisor in the venture capital/private equity space since 2003. He is a former Managing Director at Kalaari
Capital Advisors in India and previously served as India country head and Director for Intel Capital&rsquo;s investments in South
Asia. Dr. Shiralagi played key roles as an investor and a board member for the investments made by Kalaari and Intel Capital.
Previously, Dr. Shiralagi was a scientist at Motorola Research Laboratories in the field of high-speed devices, optoelectronics
and nanotechnology, published over 60 papers in reputable journals and has 23 issued patents. After Dr. Shiralagi received his
MBA from Thunderbird, he joined Mortorola Ventures where he began his career investing in technology companies . Dr. Shiralagi
also co-founded and was the COO at Lytek Corporation, a manufacturer of surface emitting lasers based in Phoenix, Arizona. Dr.
Shiralagi graduated in Electronics and Communications from National Institute of Technology, Surathkal and completed MS and PhD
in Electrical Engineering from Arizona State University.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Mr. Vishant Vora, currently a director nominee,
will serve as an independent director on our board of directors following the completion of this offering. Mr. Vora is a technology
executive with over 30 years of experience in the telecom industry across the Americas, Europe and Asia and is currently the President
of Global Operations and Managed Services at Mevenir with responsibility for <FONT STYLE="background-color: white">global end-to-end
business operations including network design, rollout and deployments, solutions and systems integration services, managed services
and related strategic initiatives. Previously, </FONT>Mr. Vora led the technological transformation at Vodafone Romania as the
CTO helping to grow the subscriber base over 12 timesand was a member of the Vodafone Global Technology Board responsible for
the technological direction and strategy for the Vodafone Group. As CTO of Vodafone Idea, India, Mr. Vora successfully integrated
the networks and operations of Vodafone Idea, India into a global behemoth with over 300 million subscribers. At Vodafone Idea,
India, Mr. Vora oversaw a budget of approximately $4.5 billion and lead a team of approximately 6,000 people. Mr. Vora also won
the &ldquo;CTO of the Year in India&rdquo; award in 2014. Mr. Vora is an alumnus of the Harvard Business School where he completed
the General Management Program in Business Administration and received his undergraduate degree in Electrical Engineering from
Lawrence Technological University.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Involvement
in Certain Legal Proceedings</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Except
as described below, to the best of our knowledge, none of our directors or executive officers has, during the past ten years:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: right"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">been
                                         convicted in a criminal proceeding or been subject to a pending criminal proceeding (excluding
                                         traffic violations and other minor offenses);</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"></TD><TD STYLE="text-align: left; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">had
                                         any bankruptcy or winding-up&nbsp;petition filed by or against the business or property
                                         of the person, or of any partnership, corporation or business association of which he
                                         was a general partner or executive officer, either at the time of the bankruptcy or winding-up&nbsp;filing
                                         or within two years prior to that time;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"></TD><TD STYLE="text-align: left; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">been
                                         subject to any order, judgment, or decree, not subsequently reversed, suspended or vacated,
                                         by any court of competent jurisdiction or federal or state authority, permanently or
                                         temporarily enjoining, barring, suspending or otherwise limiting, his involvement in
                                         any type of business, securities, futures, commodities, investment, banking, savings
                                         and loan, or insurance activities, or to be associated with persons engaged in any such
                                         activity;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"></TD><TD STYLE="text-align: left; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">been
                                         found by a court of competent jurisdiction in a civil action or by the Securities and
                                         Exchange Commission (the &ldquo;SEC&rdquo;) or the Commodity Futures Trading Commission
                                         to have violated a federal or state securities or commodities law, and the judgment has
                                         not been reversed, suspended, or vacated;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -24pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: right"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">been
                                         the subject of, or a party to, any federal or state judicial or administrative order,
                                         judgment, decree, or finding, not subsequently reversed, suspended or vacated (not including
                                         any settlement of a civil proceeding among private litigants), relating to an alleged
                                         violation of any federal or state securities or commodities law or regulation, any law
                                         or regulation respecting financial institutions or insurance companies including, but
                                         not limited to, a temporary or permanent injunction, order of disgorgement or restitution,
                                         civil money penalty or temporary or permanent cease-and-desist&nbsp;order, or removal
                                         or prohibition order, or any law or regulation prohibiting mail or wire fraud or fraud
                                         in connection with any business entity; or</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: right"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">been
                                         the subject of, or a party to, any sanction or order, not subsequently reversed, suspended
                                         or vacated, of any self-regulatory&nbsp;organization (as defined in Section&nbsp;3(a)(26)
                                         of the Exchange Act), any registered entity (as defined in Section&nbsp;1(a)(29) of the
                                         Commodity Exchange Act), or any equivalent exchange, association, entity or organization
                                         that has disciplinary authority over its members or persons associated with a member.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Number
of Officers and Directors</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
expect to have five directors upon completion of this offering. We may not hold an annual meeting of stockholders until after
we consummate our initial business combination. Our officers are elected by the board of directors and serve at the discretion
of the board of directors, rather than for specific terms of office. Our board of directors is authorized to appoint persons to
the offices set forth in our bylaws as it deems appropriate.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Director
Independence</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Nasdaq
requires that a majority of our board of directors must be composed of &ldquo;independent directors,&rdquo; which is defined generally
as a person other than an officer or employee of the company or its subsidiaries or any other individual having a relationship,
which, in the opinion of the company&rsquo;s board of directors would interfere with the director&rsquo;s exercise of independent
judgment in carrying out the responsibilities of a director.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Upon
the effective date of the registration statement of which this prospectus forms a part, Messrs. Eslambolchi, Vora and Shiralagi
will be our independent directors. Our independent directors will have regularly scheduled meetings at which only independent
directors are present. Any affiliated transactions will be on terms no less favorable to us than could be obtained from independent
parties. Any affiliated transactions must be approved by a majority of our independent and disinterested directors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Executive
Officer and Director Compensation</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Except
for the shares issued, we do not plan to pay any compensation to our sponsors, officers and directors, or any of their respective
affiliates, prior to or in connection with the consummation of our initial business combination. Additionally, these individuals
will be reimbursed for any out-of-pocket&nbsp;expenses incurred in connection with activities on our behalf such as identifying
potential target businesses and performing due diligence on suitable business combinations. Our independent directors will review
on a quarterly basis all payments that are made to our sponsors, officers, directors, or our or their affiliates.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">After
the completion of our initial business combination, members of our management team who remain with us, may be paid consulting,
management or other fees from the combined company with any and all amounts being fully disclosed to stockholders, to the extent
then known, in the tender offer materials or proxy solicitation materials furnished to our stockholders in connection with a proposed
business combination. It is unlikely the amount of such compensation will be known at the time, as it will be up to the directors
of the post-combination&nbsp;business to determine executive and director compensation. Any compensation to be paid to our officers
will be determined, or recommenced, to the board of directors for determination, either by a committee constituted solely by independent
directors or by a majority of the independent directors on our board of directors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
do not intend to take any action to ensure that members of our management team maintain their positions with us after the consummation
of our initial business combination, although it is possible that some or all of our officers and directors may negotiate employment
or consulting arrangements to remain with us after the initial business combination. The existence or terms of any such employment
or consulting arrangements to retain their positions with us may influence our management&rsquo;s motivation in identifying or
selecting a target business but we do not believe that the ability of our management to remain with us after the consummation
of our initial business combination will be a determining factor in our decision to proceed with any potential business combination.
We are not party to any agreements with our officers and directors that provide for benefits upon termination of employment.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Committees
of the Board of Directors</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Upon
the effective date of the registration statement of which this prospectus forms part, our board of directors will have two standing
committees: an audit committee and a compensation committee. Each committee will operate under a charter that has been approved
by our board of directors and will have the composition and responsibilities described below. Our audit committee and compensation
committee and nominating will be composed solely of independent directors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Audit
Committee</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Upon
the effectiveness of the registration statement of which this prospectus forms a part, we will establish an audit committee of
the board of directors. The members of our audit committee will be Dr. Eslambolchi, Doctor Shiralagi and Mr. Vora. Dr. Shiralagi
will serve as chairperson of the audit committee. Under the Nasdaq listing standards and applicable SEC rules, we are required
to have at least three members on the audit committee. The rules of Nasdaq and Rule&nbsp;10A-3&nbsp;of the Exchange Act require
that the audit committee of a listed company be comprised solely of independent directors. Dr. Eslambolchi, Dr. Shiralagi and
Mr. Vora qualify as independent directors under applicable rules. Each member of the audit committee is financially literate and
our board of directors has determined that Dr. Shiralagi qualifies as an &ldquo;audit committee financial expert&rdquo; as defined
in applicable SEC rules.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
will adopt an audit committee charter, which will detail the principal functions of the audit committee, including:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                         appointment, compensation, retention, replacement, and oversight of the work of the independent
                                         registered accounting firm and any other independent registered public accounting firm
                                         engaged by us;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">pre-approving&nbsp;all
                                         audit and&nbsp;non-audit&nbsp;services to be provided by the independent registered accounting
                                         firm or any other registered public accounting firm engaged by us, and establishing&nbsp;pre-approval&nbsp;policies
                                         and procedures;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">reviewing
                                         and discussing with the independent registered accounting firm all relationships the
                                         auditors have with us in order to evaluate their continued independence;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">setting
                                         clear hiring policies for employees or former employees of the independent registered
                                         accounting firm;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">setting
                                         clear policies for audit partner rotation in compliance with applicable laws and regulations;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">obtaining
                                         and reviewing a report, at least annually, from the independent registered accounting
                                         firm describing (i)&nbsp;the independent registered accounting firm&rsquo;s internal
                                         quality-control procedures and (ii)&nbsp;any material issues raised by the most recent
                                         internal quality-control review, or peer review, of the audit firm, or by any inquiry
                                         or investigation by governmental or professional authorities, within, the preceding five
                                         years respecting one or more independent audits carried out by the firm and any steps
                                         taken to deal with such issues;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">reviewing
                                         and approving any related party transaction required to be disclosed pursuant to Item
                                         404 of Regulation&nbsp;S-K&nbsp;promulgated by the SEC prior to us entering into such
                                         transaction; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">reviewing
                                         with management, the independent registered accounting firm, and our legal advisors,
                                         as appropriate, any legal, regulatory or compliance matters, including any correspondence
                                         with regulators or government agencies and any employee complaints or published reports
                                         that raise material issues regarding our financial statements or accounting policies
                                         and any significant changes in accounting standards or rules promulgated by the Financial
                                         Accounting Standards Board, the SEC or other regulatory authorities.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Compensation
Committee</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Upon
the effectiveness of the registration statement of which this prospectus forms a part, we will establish a compensation committee
of the board of directors consisting of two members. The members of our Compensation Committee will be Dr. Eslambolchi, Mr. Vora
and Dr. Shiralagi. Dr. Eslambolchi will serve as chairman of the compensation committee. Under the Nasdaq listing standards and
applicable SEC rules, we are required to have at least two members on the compensation committee, all of whom must be independent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
will adopt a compensation committee charter, which will detail the principal functions of the compensation committee, including:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">reviewing
                                         and approving on an annual basis the corporate goals and objectives relevant to our Chief
                                         Executive Officer&rsquo;s compensation, evaluating our Chief Executive Officer&rsquo;s
                                         performance in light of such goals and objectives and determining and approving the remuneration
                                         (if any) of our Chief Executive Officer based on such evaluation;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">reviewing
                                         and approving the compensation of all of our other executive officers;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">reviewing
                                         our executive compensation policies and plans;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">implementing
                                         and administering our incentive compensation equity-based remuneration plans;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">assisting
                                         management in complying with our proxy statement and annual report disclosure requirements;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">approving
                                         all special perquisites, special cash payments and other special compensation and benefit
                                         arrangements for our executive officers and employees;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">producing
                                         a report on executive compensation to be included in our annual proxy statement; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">reviewing,
                                         evaluating and recommending changes, if appropriate, to the remuneration for directors.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
charter will also provide that the compensation committee may, in its sole discretion, retain or obtain the advice of a compensation
consultant, legal counsel or other adviser and will be directly responsible for the appointment, compensation and oversight of
the work of any such adviser. However, before engaging or receiving advice from a compensation consultant, external legal counsel
or any other adviser, the compensation committee will consider the independence of each such adviser, including the factors required
by Nasdaq and the SEC.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Director
Nominations</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
do not have a standing nominating committee, though we intend to form a corporate governance and nominating committee as and when
required to do so by law or Nasdaq rules. In accordance with Rule&nbsp;5605(e)(2) of the Nasdaq rules, a majority of the independent
directors may recommend a director nominee for selection by the board of directors. The board of directors believes that the independent
directors can satisfactorily carry out the responsibility of properly selecting or approving director nominees without the formation
of a standing nominating committee. The directors who shall participate in the consideration and recommendation of director nominees
are Messrs. Eslambolchi, Vora and Shiralagi. In accordance with Rule&nbsp;5605(e)(1)(A) of the Nasdaq rules, all such directors
are independent. As there is no standing nominating committee, we do not have a nominating committee charter in place.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
board of directors will also consider director candidates recommended for nomination by our stockholders during such times as
they are seeking proposed nominees to stand for appointment at the next annual general meeting (or, if applicable, an extraordinary
general meeting). Our stockholders that wish to nominate a director for election to the Board should follow the procedures set
forth in our amended and restated certificate of incorporation. We have not formally established any specific, minimum qualifications
that must be met or skills that are necessary for directors to possess. In general, in identifying and evaluating nominees for
director, the board of directors considers educational background, diversity of professional experience, knowledge of our business,
integrity, professional reputation, independence, wisdom, and the ability to represent the best interests of our stockholders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
board of directors is divided into three classes with only one class of directors being appointed in each year and each class
serving a three-year&nbsp;term. The term of office of the first class of directors, consisting of Dr. Shiralagi, will expire at
the first annual general meeting. The term of office of the second class of directors, consisting of Messrs. Eslambolchi and Vora,
will expire at the second annual general meeting. The term of office of the third class of directors, consisting of Mr.&nbsp;Subash
Menon and Mr. Sudeesh Yezhuvath, will expire at the third annual general meeting.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: left; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Code
of Ethics</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
have adopted a code of conduct and ethics applicable to our directors, officers and employees in accordance with applicable federal
securities laws. We will file a copy of our form of Code of Ethics and our audit committee charter as exhibits to the registration
statement. You will be able to review these documents by accessing our public filings at the SEC&rsquo;s web site at&nbsp;<I>www.sec.gov</I>.
In addition, a copy of the Code of Ethics will be provided without charge upon request from us. We intend to disclose any amendments
to or waivers of certain provisions of our Code of Ethics in a Current Report on Form&nbsp;8-K. See &ldquo;Where You Can Find
Additional Information.&rdquo;&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Conflicts
of Interest</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
general, officers and directors of a corporation incorporated under the laws of the State of Delaware are required to present
business opportunities to a corporation if:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                         corporation could financially undertake the opportunity;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                         opportunity is within the corporation&rsquo;s line of business; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">it
                                         would not be fair to the corporation and its stockholders for the opportunity not to
                                         be brought to the attention of the corporation.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
relation to the foregoing, our amended and restated certificate of incorporation provides that:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">we
                                         renounce any interest or expectancy in, or being offered an opportunity to participate
                                         in, any business opportunities that are presented to us or our officers or directors
                                         or stockholders or affiliates thereof, including but not limited to, our initial stockholders
                                         and its affiliates, except as may be prescribed by any written agreement with us; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">our
                                         officers and directors will not be liable to our company or our stockholders for monetary
                                         damages for breach of any fiduciary duty by reason of any of our activities or any of
                                         our initial stockholders or its affiliates to the fullest extent permitted by Delaware
                                         law.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Each
of our officers and directors presently has, and any of them in the future may have additional, fiduciary or contractual obligations
to another entity pursuant to which such officer or director is or will be required to present a business combination opportunity
to such entity. Accordingly, if any of our officers or directors becomes aware of a business combination opportunity which is
suitable for an entity to which he or she has then-current fiduciary or contractual obligations, he or she will honor these fiduciary
obligations under applicable law. Our amended and restated certificate of incorporation will provide that we renounce our interest
in any corporate opportunity offered to any director or officer unless such opportunity is expressly offered to such person solely
in his or her capacity as a director or officer of our company and such opportunity is one we are legally and contractually permitted
to undertake and would otherwise be reasonable for us to pursue.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
following table summarizes the relevant&nbsp;pre-existing&nbsp;fiduciary or contractual obligations of our officers and directors:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 0pt; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 29.98%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Individual</B></FONT></TD>
<TD STYLE="padding: 0pt 0pt 1.5pt; text-indent: 0pt; width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt; width: 33%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Entity</B></FONT></TD>
<TD STYLE="padding: 0pt 0pt 1.5pt; text-indent: 0pt; width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt; width: 35%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Position
at affiliated entity</B></FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
<TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; padding-right: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subash
Menon</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; vertical-align: top; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pelatro
PLC</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
Executive Officer and Director</FONT></TD></TR>
<TR STYLE="background-color: White">
<TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; padding-right: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sudeesh
Yezhuvath</FONT></TD>
<TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; vertical-align: top; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;
Pelatro PLC</FONT></TD>
<TD COLSPAN="2" STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;Chief
Operating Officer</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
<TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; padding-right: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nicholos
Hellyer</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; vertical-align: top; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pelatro
PLC</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Finance
Director </FONT></TD></TR>
<TR STYLE="background-color: White">
<TD STYLE="text-align: left; padding-top: 0pt; vertical-align: top; padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; padding-right: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dr.
Hossein Eslambolchi</FONT></TD>
<TD COLSPAN="2" STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CyberFlow
Analytics<BR> 2020 Venture Partners<BR> Hyperoffice</FONT></TD>
<TD COLSPAN="2" STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman
and CEO<BR> Chairman and CEO<BR> Director </FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
<TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; padding-right: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dr.
Kumar Shiralagi</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lytek
Corporation&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;Chief
Operating Officer</FONT></TD></TR>
<TR STYLE="background-color: White">
<TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; padding-right: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.
Vishant Vora</FONT></TD>
<TD COLSPAN="2" STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;Mavenir</FONT></TD>
<TD COLSPAN="2" STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;President
of Global Operations</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Potential
investors should also be aware of the following other potential conflicts of interest:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">None
                                         of our officers or directors is required to commit his or her full time to our affairs
                                         and, accordingly, may have conflicts of interest in allocating his or her time among
                                         various business activities.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
                                         sponsors, executive officers and directors have agreed to waive their redemption rights
                                         with respect to their founder shares and any public shares they hold in connection with
                                         the consummation of our initial business combination. Additionally, our sponsors, executive
                                         officers and directors have agreed to waive their redemption rights with respect to their
                                         founder shares if we fail to consummate our initial business combination within 18 months
                                         after the closing of this offering, although they will be entitled to liquidating distributions
                                         from the trust account with respect to any public shares they hold. If we do not complete
                                         our initial business combination within such applicable time period, the proceeds of
                                         the sale of the private placement warrants will be used to fund the redemption of our
                                         public shares, and the private placement warrants will expire worthless. With certain
                                         limited exceptions, the founder shares will not be transferable, assignable or salable
                                         by our initial stockholders until the earlier of (1)&nbsp;one year after the completion
                                         of our initial business combination and (2)&nbsp;the date on which we consummate a liquidation,
                                         merger, capital stock exchange, reorganization, or other similar transaction after our
                                         initial business combination that results in all of our stockholders having the right
                                         to exchange their shares of common stock for cash, securities or other property. Notwithstanding
                                         the foregoing, if the last sale price of our common stock equals or exceeds $18.00 per
                                         share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations
                                         and the like) for any 20 trading days within any&nbsp;30-trading&nbsp;day period commencing
                                         at least 150 days after our initial business combination, the founder shares will be
                                         released from the&nbsp;lock-up.&nbsp;With certain limited exceptions, the private placement
                                         warrants and the securities underlying such warrants will not be transferable, assignable
                                         or salable by our initial stockholders until 30 days after the completion of our initial
                                         business combination. Since our initial stockholders and officers and directors may directly
                                         or indirectly own common stock and warrants following this offering, our officers and
                                         directors may have a conflict of interest in determining whether a particular target
                                         business is an appropriate business with which to effectuate our initial business combination.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
                                         officers and directors may have a conflict of interest with respect to evaluating a particular
                                         business combination if the retention or resignation of any such officers and directors
                                         was included by a target business as a condition to any agreement with respect to our
                                         initial business combination.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
                                         initial stockholders, officers or directors may have a conflict of interest with respect
                                         to evaluating a business combination and financing arrangements as we may obtain loans
                                         from our initial stockholders or an affiliate of our initial stockholders or any of our
                                         officers or directors to finance transaction costs in connection with an intended initial
                                         business combination. Up to $1,500,000 of such loans may be, at the option of the lender,
                                         convertible into placement warrants at a price of $1.00 per warrant. Such units would
                                         be identical to the private placement warrants, including as to exercise price, exercisability
                                         and exercise period.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
                                         initial stockholders, officers and directors may be owed reimbursement for expenses incurred
                                         in connection with certain activities on our behalf which would only be repaid if we
                                         complete an initial business combination.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
conflicts described above may not be resolved in our favor.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
are not prohibited from pursuing an initial business combination with a company that is affiliated with our initial stockholders,
officers or directors. In the event we seek to complete our initial business combination with such a company, we, or a committee
of independent directors, would obtain an opinion from an independent investment banking firm which is a member of FINRA, or from
an independent accounting firm, that such an initial business combination is fair to our company from a financial point of view.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
the event that we submit our initial business combination to our public stockholders for a vote, our sponsors, executive officers,
and directors have agreed to vote their founder shares and any public shares purchased in or after this offering in favor of our
initial business combination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Limitation
on Liability and Indemnification of Officers and Directors</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
amended and restated certificate of incorporation will provide that our officers and directors will be indemnified by us to the
fullest extent authorized by Delaware law, as it now exists or may in the future be amended. In addition, our amended and restated
certificate of incorporation will provide that our directors will not be personally liable for monetary damages to us for breaches
of their fiduciary duty as directors, except to the extent such exemption from liability or limitation thereof is not permitted
by the DGCL.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
will enter into agreements with our officers and directors to provide contractual indemnification in addition to the indemnification
provided for in our amended and restated certificate of incorporation. Our bylaws also permit us to maintain insurance on behalf
of any officer, director or employee for any liability arising out of his or her actions, regardless of whether Delaware law would
permit such indemnification. We will obtain a policy of directors&rsquo; and officers&rsquo; liability insurance that insures
our officers and directors against the cost of defense, settlement or payment of a judgment in some circumstances and insures
us against our obligations to indemnify our officers and directors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">These
provisions may discourage stockholders from bringing a lawsuit against our directors for breach of their fiduciary duty. These
provisions also may have the effect of reducing the likelihood of derivative litigation against officers and directors, even though
such an action, if successful, might otherwise benefit us and our stockholders. Furthermore, a stockholder&rsquo;s investment
may be adversely affected to the extent we pay the costs of settlement and damage awards against officers and directors pursuant
to these indemnification provisions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
believe that these provisions, the directors&rsquo; and officers&rsquo; liability insurance and the indemnity agreements are necessary
to attract and retain talented and experienced officers and directors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="a_012"></A>PRINCIPAL
STOCKHOLDERS</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
following table sets forth information regarding the beneficial ownership of our common stock as of the date of this prospectus,
and as adjusted to reflect the sale of our common stock included in the units offered by this prospectus, and assuming no purchase
of units in this offering, by:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">each
                                         person known by us to be the beneficial owner of more than 5% of our outstanding shares
                                         of common stock;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">each
                                         of our executive officers, directors and director nominees; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">all
                                         our executive officers, directors and director nominees as a group.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Unless
otherwise indicated, we believe that all persons named in the table have sole voting and investment power with respect to all
shares of common stock beneficially owned by them. The following table does not reflect record or beneficial ownership of the
private placement warrants as these warrants are not exercisable within 60&nbsp;days of the date of this prospectus.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding: 0pt 0pt 1.5pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt 0pt 1.5pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD COLSPAN="6" STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Before
Offering</B></FONT></TD>
<TD STYLE="padding: 0pt 0pt 1.5pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt 0pt 1.5pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD COLSPAN="6" STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>After
Offering<SUP>(3)</SUP></B></FONT></TD>
<TD STYLE="padding: 0pt 0pt 1.5pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 0pt; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name
and Address of Beneficial Owner<SUP>(1)</SUP></B></FONT></TD>
<TD STYLE="padding: 0pt 0pt 1.5pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Number
of</B><BR> <B>Shares</B><BR> <B>Beneficially</B><BR> <B>Owned<SUP>(2)</SUP></B></FONT></TD>
<TD STYLE="padding: 0pt 0pt 1.5pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt 0pt 1.5pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Approximate</B><BR>
<B>Percentage&nbsp;of</B><BR> <B>Outstanding</B><BR> <B>Common&nbsp;Stock</B></FONT></TD>
<TD STYLE="padding: 0pt 0pt 1.5pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt 0pt 1.5pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Number
of</B><BR> <B>Shares</B><BR> <B>Beneficially</B><BR> <B>Owned</B></FONT></TD>
<TD STYLE="padding: 0pt 0pt 1.5pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding: 0pt 0pt 1.5pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD COLSPAN="2" STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Approximate</B><BR>
<B>Percentage&nbsp;of</B><BR> <B>Outstanding</B><BR> <B>Common&nbsp;Stock</B></FONT></TD>
<TD STYLE="padding: 0pt 0pt 1.5pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-top: 0pt; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>5%
and greater holders</I></B></FONT></TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
<TD STYLE="padding-top: 0pt; vertical-align: top; padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; padding-right: 0pt; width: 37.64%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bannix
Management LLP</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 2.22%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;1,200,000</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 2.22%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">41.73</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 2.24%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 2.24%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
<TD STYLE="padding-top: 0pt; vertical-align: top; padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; padding-right: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[Anchor
Investor]</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
<TD STYLE="padding-top: 0pt; vertical-align: top; padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; padding-right: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">I-Bankers</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
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<TD STYLE="padding-top: 0pt; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
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<TD STYLE="padding-top: 0pt; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
<TD STYLE="padding-top: 0pt; vertical-align: top; padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; padding-right: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Directors
and Officers</I></B></FONT></TD>
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<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
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<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-top: 0pt; padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; padding-right: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subash
Menon</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,675,000</FONT></TD>
<TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">58.27</FONT></TD>
<TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="padding-top: 0pt; padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; padding-right: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sudeesh
Yezhuvath</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-top: 0pt; padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; padding-right: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nicholos
Hellyer</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="padding-top: 0pt; padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; padding-right: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dr.
Hossein Eslambolchi</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-top: 0pt; padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; padding-right: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dr.
Kumar Shiralagi</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="padding-top: 0pt; padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; padding-right: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Vishant
Vora</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: White">
<TD STYLE="padding-top: 0pt; vertical-align: top; padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; padding-right: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
<TD STYLE="padding-top: 0pt; vertical-align: top; padding-left: 0pt; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; padding-right: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
directors, director nominees and executive officers as a group (____&nbsp;individuals)</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-align: right; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-top: 0pt; white-space: nowrap; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">___________</FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; width: 4.02%; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">*</FONT></TD>
    <TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Less
    than 1%.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1)</FONT></TD>
    <TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Unless
    otherwise noted, the business address of each of the following entities or individuals is 300 Tice Boulevard, Suite 315, Woodcliff
    Lake, NJ 07677.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(2)</FONT></TD>
    <TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Interests
    shown consist solely of founder shares.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(3)</FONT></TD>
    <TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Based
    on 12,750,000 shares of common stock outstanding immediately after this offering (assumes the underwriters&rsquo; over-allotment
    option has not been exercised and an aggregate of 375,000 founder shares have been forfeited by sponsors).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(4)</FONT></TD>
    <TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Includes
    shares held by our sponsors, of which _________ is the sole manager.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(5)</FONT></TD>
    <TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
    individual holds an interest in Bannix Management LLP and disclaims any beneficial ownership other than to the extent of his
    pecuniary interest.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Immediately
after this offering, our initial stockholders will beneficially own 20% of the then issued and outstanding shares of common stock
(assuming they do not purchase any units in this offering). Because of this ownership block, our initial stockholders may be able
to effectively influence the outcome of all other matters requiring approval by our stockholders, including amendments to our
amended and restated certificate of incorporation and approval of significant corporate transactions including our initial business
combination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
sponsors have committed, pursuant to a written agreement, to purchase an aggregate of 2,300,000 private placement warrants (inclusive
of the private placement warrants issued to our sponsors in lieu of  I-Bankers), each exercisable to purchase one share of common stock at $11.50 per share, at a
price of $1.00 per warrant ($2,300,000 in the aggregate), in a private placement that will close simultaneously with the
closing of this offering. The number of private placement warrants to be purchased if the underwriters&rsquo; over-allotment
option is exercised only in part will be a number of warrants necessary to maintain in the trust account $10.00 per unit sold
to the public in this offering. These additional private placement warrants will be purchased simultaneously with the
purchase of units resulting from the exercise of the underwriters&rsquo; over-allotment option. If we do not complete our
initial business combination within 18 months from the closing of this offering, the private placement warrants will expire
worthless. The private placement warrants are subject to the transfer restrictions described below. The private placement
warrants will not be redeemable (except as described under &ldquo;Description of Securities &mdash; Warrants &mdash; Private
Placement Warrants&rdquo;) by us so long as they are held by our sponsors or their permitted transferees. Our sponsors or
their permitted transferees have the option to exercise the private placement warrants on a cashless basis. If the private
placement warrants are held by holders other than the sponsors or their 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
this offering. Otherwise, the private placement warrants have terms and provisions that are identical to those of the
warrants being sold as part of the units in this offering.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
sponsors, executive officers and directors may be deemed to be &ldquo;promoters&rdquo; as such term is defined under the federal
securities laws.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Transfers
of Founder Shares, Private Placement Warrants and Underlying Securities</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
founder shares, placement warrants and any shares of common stock issued upon exercise of the private placement warrants are each
subject to transfer restrictions pursuant to&nbsp;lock-up&nbsp;provisions in the letter agreements with us to be entered into
by our initial stockholders. Those&nbsp;lock-up&nbsp;provisions provide that such securities are not transferable or salable (i)&nbsp;in
the case of the founder shares, until the earlier of (A)&nbsp;one year after the completion of our initial business combination
or (B)&nbsp;if, subsequent to our initial business combination, the last sale price of the common stock (x)&nbsp;equals or exceeds
$18.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading
days within any&nbsp;30-trading&nbsp;day period commencing at least 150&nbsp;days after our initial business combination, or (y)&nbsp;the
date following the completion of our initial business combination on which we complete a liquidation, merger, stock exchange 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, and (ii)&nbsp;in the case of the private placement warrants and the respective common stock
underlying such warrants, until 30&nbsp;days after the completion of our initial business combination, except in each case (a)&nbsp;to
our officers or directors, any affiliates or family members of any of our officers or directors, our initial stockholders or any
affiliates or family members of members of our initial stockholders, or any affiliates of our initial stockholders (or their employees);
(b)&nbsp;in the case of an individual, by gift to a member of one of the members of the individual&rsquo;s immediate family or
to a trust, the beneficiary of which is a member of one of the individual&rsquo;s immediate family, an affiliate of such person
or to a charitable organization; (c)&nbsp;in the case of an individual, by virtue of laws of descent and distribution upon death
of the individual; (d)&nbsp;in the case of an individual, pursuant to a qualified domestic relations order; (e)&nbsp;by private
sales or transfers made in connection with the consummation of a business combination at prices no greater than the price at which
the securities were originally purchased; or (f)&nbsp;if a holder is an entity, as a distribution to its partners, stockholders,
officers or members upon its liquidation; provided, however, that in any case these permitted transferees must enter into a written
agreement agreeing to be bound by these transfer restrictions to the extent and for the duration that such terms remain in effect
at the time of the transfer and by the same agreements entered into by our initial stockholders with respect to such securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Registration
Rights</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
holders of the founder shares, the private placement warrants (and underlying securities) and private placement warrants that
may be issued upon conversion of working capital loans (and any underlying securities) will be entitled to registration rights
pursuant to a registration rights agreement to be signed prior to or on the closing date of this offering requiring us to register
such securities for resale. The holders of these securities are entitled to make up to three demands, excluding short form demands,
that we register such securities. In addition, the holders have certain &ldquo;piggy-back&rdquo; registration rights with respect
to registration statements filed subsequent to the completion of our initial business combination. However, the registration rights
agreement provides that we will not permit any registration statement filed under the Securities Act to become effective until
termination of the applicable&nbsp;lock-up&nbsp;period described above &ldquo;&mdash;Transfers of Founder Shares, Private Placement
Warrants and Underlying Securities.&rdquo; We will bear the expenses incurred in connection with the filing of any such registration
statements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="a_013"></A>CERTAIN
RELATIONSHIPS AND RELATED PARTY TRANSACTIONS</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">initial stockholders purchased or will purchase upon closing
of this offering 2,875,000 founder shares for an aggregate purchase price of $28,750 (up to 375,000 of which are subject to
forfeiture). If we increase or decrease the size of the offering, we will effect a stock dividend or share contribution back to
capital or other appropriate mechanism, as applicable, with respect to our common stock immediately prior to the consummation
of the offering in such amount as to maintain the ownership of founder shares by our initial stockholders prior to this offering
at 20% of our issued and outstanding shares of our common stock upon the consummation of this offering (excluding the Representative&rsquo;s
shares).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
sponsors have committed, pursuant to a written agreement, to purchase an aggregate of 2,300,000 private placement warrants (inclusive
of the private placement warrants transferred from I-Bankers to our sponsors concurrently with the closing of this offering)
each exercisable to purchase one share of common stock at $11.50 per share, at a price of $1.00 per warrant ($2,300,000 in the
aggregate), in a private placement that will close simultaneously with the closing of this offering. Each private placement warrant
entitles the holder to purchase one share of common stock at $11.50 per share. The private placement warrants (including the shares
of common stock issuable upon exercise of the private placement warrants) may not, subject to certain limited exceptions, be transferred,
assigned or sold until 30 days after the completion of our initial business combination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
more fully discussed in &ldquo;Management&nbsp;&mdash; Conflicts of Interest,&rdquo; if any of our officers or directors becomes
aware of a business combination opportunity that falls within the line of business of any entity to which he or she has then-current
fiduciary or contractual obligations, he or she may be required to present such business combination opportunity to such entity
prior to presenting such business combination opportunity to us. Our executive officers and directors currently have certain relevant
fiduciary duties or contractual obligations that may take priority over their duties to us.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
will enter into an Administrative Services Agreement pursuant to which we will pay (commencing on the effective date of this registration
statement) an affiliate of one of our officers a total of $5,000 per month for office space, utilities, secretarial support and
other administrative and consulting services. Upon completion of our initial business combination or our liquidation, we will
cease paying these monthly fees. Accordingly, in the event the consummation of our initial business combination takes the maximum
24 months, we will pay a total of $120,000 ($5,000 per month) for office space, utilities, secretarial support and other administrative
and consulting services.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
sponsors, executive officers and directors, or any of their respective affiliates, will be reimbursed for any&nbsp;out-of-pocket&nbsp;expenses
incurred in connection with activities on our behalf such as identifying potential target businesses and performing due diligence
on suitable business combinations. Our audit committee will review on a quarterly basis all payments that were made to our sponsors,
officers, directors or our or their affiliates and will determine which expenses and the amount of expenses that will be reimbursed.
There is no cap or ceiling on the reimbursement of&nbsp;out-of-pocket&nbsp;expenses incurred by such persons in connection with
activities on our behalf.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Prior
to the closing of this offering, our sponsors have agreed to loan us up to $300,000, in the form of a promissory note, to be used
for a portion of the expenses of this offering. Separately, as of February 9, 2021, we have borrowed $27,963 from our sponsors
as related party loans. The loans and promissory note are non-interest bearing and unsecured. The promissory note is due at the
earlier of June 30, 2021 or the successful closing of this offering. The related party loans are due for repayment within six
months of January 29, 2021 in cash or issuance of shares and/or warrants of equivalent value. The promissory note would be forgiven
if the offering does not close. The cash available for repayment of the loans and note would be from the $500,000 of offering
proceeds that has been allocated to the payment of offering expenses.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
addition, in order to finance transaction costs in connection with an intended initial business combination, our initial stockholders
or an affiliate of our initial stockholders or certain of our officers and directors may, but are not obligated to, loan us funds
as may be required. If we complete an initial business combination, we would repay such loaned amounts. In the event that the
initial business combination does not close, we may use a portion of the working capital held outside the trust account to repay
such loaned amounts but no proceeds from our trust account would be used for such repayment. Up to $1,500,000 of such loans may
be, at the option of the lender, convertible into warrants at a price of $1.00 per warrant of the post business combination entity.
The warrants would be identical to the private placement warrants, including as to exercise price, exercisability and exercise
period. The terms of such loans, if any, have not been determined and no written agreements exist with respect to such loans.
We do not expect to seek loans from parties other than our initial stockholders or an affiliate of our initial stockholders or
certain officers and directors as we do not believe third parties will be willing to loan such funds and provide a waiver against
any and all rights to seek access to funds in our trust account.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
do not intend to pay consulting, finders or success fees to our officer and directors in connection with any business combination.
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">However, these individuals will be reimbursed for any&nbsp;out-of-pocket&nbsp;expenses
incurred in connection with activities on our behalf such as identifying potential target businesses and performing due diligence
on suitable business combinations. Our audit committee will review on a quarterly basis all payments that were made to our initial
stockholders, officers, directors or our or their affiliates.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">After
our initial business combination, members of our management team who remain with us may be paid consulting, management or other
fees from the combined company with any and all amounts being fully disclosed to our stockholders, to the extent then known, in
the tender offer or proxy solicitation materials, as applicable, furnished to our stockholders. It is unlikely the amount of such
compensation will be known at the time of distribution of such tender offer materials or at the time of a stockholder meeting
held to consider our initial business combination, as applicable, as it will be up to the directors of the post-combination business
to determine executive officer and director compensation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
will enter into a registration rights agreement with respect to the founder shares and private placement warrants (and underlying
securities), which is described under the heading &ldquo;Principal Stockholders&nbsp;&mdash; Registration Rights.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Policy
for Approval of Related Party Transactions</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
audit committee of our board of directors will adopt a policy setting forth the policies and procedures for its review and approval
or ratification of &ldquo;related party transactions.&rdquo; Pursuant to the policy, the audit committee will consider (i)&nbsp;the
relevant facts and circumstances of each related party transaction, including if the transaction is on terms comparable to those
that could be obtained in&nbsp;arm&rsquo;s-length&nbsp;dealings with an unrelated third party, (ii)&nbsp;the extent of the related
party&rsquo;s interest in the transaction, (iii)&nbsp;whether the transaction contravenes our code of ethics or other policies,
(iv)&nbsp;whether the audit committee believes the relationship underlying the transaction to be in the best interests of the
company and its stockholders and (v)&nbsp;the effect that the transaction may have on a director&rsquo;s status as an independent
member of the board and on his or her eligibility to serve on the board&rsquo;s committees. Management will present to the audit
committee each proposed related party transaction, including all relevant facts and circumstances relating thereto. Under the
policy, we may consummate related party transactions only if our audit committee approves or ratifies the transaction in accordance
with the guidelines set forth in the policy. The policy will not permit any director or executive officer to participate in the
discussion of, or decision concerning, a related person transaction in which he or she is the related party.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="a_014"></A>DESCRIPTION
OF SECURITIES</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pursuant
to our amended and restated certificate of incorporation, our authorized capital stock will consist of 100,000,000 shares of common
stock, $0.01 par value, and 1,000,000 shares of undesignated preferred stock, $0.01 par value. The following description summarizes
the material terms of our capital stock. Because it is only a summary, it may not contain all the information that is important
to you.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Public
Units</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Each
unit has an offering price of $10.00 and consists of one share of common stock and&nbsp;one-half&nbsp;of one redeemable warrant.
Each whole warrant entitles the holder thereof to purchase one share of our common stock at a price of $11.50 per share, subject
to adjustment as described in this prospectus. No fractional warrants will be issued upon separation of the units and only whole
warrants will trade. The common stock and warrants comprising the units will begin separate trading on the 52<SUP>nd</SUP>&nbsp;day
following the date of this prospectus (or if such date is not a business day, the following business day) unless&nbsp;I-Bankers&nbsp;informs
us of its decision to allow earlier separate trading, subject to our having filed the Current Report on&nbsp;Form&nbsp;8-K&nbsp;described
below and having issued a press release announcing when such separate trading will begin. At the time that the common stock and
warrants comprising the units begin separate trading, holders will hold the separate securities and no longer hold units (without
any action needing to be taken by the holders), and the units will no longer trade.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
no event will the common stock and warrants be traded separately until we have filed with the SEC a Current Report on&nbsp;Form&nbsp;8-K&nbsp;which
includes an audited balance sheet reflecting our receipt of the gross proceeds at the closing of this offering. We will file the
Current Report on&nbsp;Form&nbsp;8-K&nbsp;promptly after the closing of this offering which will include this audited balance
sheet, which closing is anticipated to take place three business days after the date of this prospectus. If the underwriters&rsquo;
over-allotment option is exercised following the initial filing of such Current Report on&nbsp;Form&nbsp;8-K,&nbsp;a second or
amended Current Report on&nbsp;Form&nbsp;8-K&nbsp;will be filed to provide updated financial information to reflect the exercise
of the underwriters&rsquo; over-allotment option.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Common
Stock</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Upon
the closing of this offering, 12,750,000 shares of our common stock will be outstanding (assuming no exercise of the underwriters&rsquo;
over-allotment option and the corresponding forfeiture of 375,000 founder shares by our sponsors), including:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">10,000,000
                                         shares of our common stock underlying the units being offered in this offering;</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,500,000
                                         shares of common stock held by our initial stockholders; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">250,000
                                         Representative&rsquo;s shares.</FONT></TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
we increase or decrease the size of this offering, we will effect a stock dividend or share contribution back to capital or other
appropriate mechanism, as applicable, with respect to our common stock immediately prior to the consummation of this offering
in such amount as to maintain the ownership of founder shares by our initial stockholders prior to this offering at 20.0% of our
issued and outstanding shares of our common stock upon the consummation of this offering (excluding the Representative&rsquo;s
shares).</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Common
stockholders of record are entitled to one vote for each share held on all matters to be voted on by stockholders. 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 common stock that are voted is required to approve any such matter
voted on by our stockholders. 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 (prior to consummation
of our initial business combination). Our stockholders are entitled to receive ratable dividends when, as and if declared by the
board of directors out of funds legally available therefor.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Because
our amended and restated certificate of incorporation will authorize the issuance of up to 100,000,000 shares of common stock,
if we were to enter into a business combination, we may (depending on the terms of such a business combination) be required to
increase the number of shares of common stock which we are authorized to issue at the same time as our stockholders vote on the
business combination to the extent we seek stockholder approval in connection with our initial business combination.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
accordance with the Nasdaq corporate governance requirements, we are not required to hold an annual meeting until one year after
our first full fiscal year end following our listing on Nasdaq. Under Section&nbsp;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&nbsp;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&nbsp;211(c) of the DGCL.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
will provide our stockholders with the opportunity to redeem all or a portion of their public shares upon the completion of our
initial business combination at a&nbsp;per-share&nbsp;price, payable in cash, equal to the aggregate amount then on deposit in
the trust account as of two business days prior to the consummation of our initial business combination, including interest (which
interest shall be net of taxes payable) divided by the number of then outstanding public shares, subject to the limitations described
herein. The amount in the trust account is initially anticipated to be approximately $10.00 per public share. The per share amount
we will distribute to stockholders who properly exercise their redemption rights will not be reduced by the fee payable to&nbsp;I-Bankers&nbsp;pursuant
to the business combination marketing agreement. See the section entitled &ldquo;Underwriting&nbsp;&mdash; Business Combination
Marketing Agreement.&rdquo; Our sponsors, officers and directors have entered into a letter agreement with us, pursuant to which
they have agreed to waive their redemption rights with respect to their founder shares and any public shares in connection with
the completion of our initial business combination, although they will be entitled to liquidating distributions from the trust
account with respect to any public shares they hold if we fail to consummate our initial business combination within 18 months
after the closing of this offering (or up to 24 months from the closing of this offering if we extend the period of time to consummate
a business combination, as described in more detail in this prospectus).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">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 legal 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&rsquo;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 legal 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 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 initial
stockholders, officers, directors, advisors or their affiliates in privately-negotiated transactions (as described in this prospectus),
if any, could result in the approval of our business combination even if a majority of our public stockholders vote, or indicate
their intention to vote, against such initial business combination. For purposes of seeking approval of the majority of our outstanding
shares of common stock,&nbsp;non-votes&nbsp;will have no effect on the approval of our business combination once a quorum is obtained.
We intend to give approximately 30&nbsp;days (but not less than 10&nbsp;days nor more than 60&nbsp;days) prior written notice
of any such meeting, if required, at which a vote shall be taken to approve our business combination. These quorum and voting
thresholds, and the voting agreements of our sponsors, officers and directors, may make it more likely that we will consummate
our initial business combination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">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 will provide 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 &ldquo;group&rdquo; (as defined under Section&nbsp;13 of the Exchange Act), will be restricted from redeeming
its shares with respect to an aggregate of 15% or more of the shares of common stock sold in this offering, which we refer to
as the &ldquo;Excess Shares.&rdquo; However, we would not be restricting our stockholders&rsquo; ability to vote all of their
shares (including Excess Shares) for or against our initial business combination. Our stockholders&rsquo; 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 business combination. And, as a
result, such stockholders will continue to hold that number of shares equal to or exceeding 15% and, in order to dispose such
shares would be required to sell their stock in open market transactions, potentially at a loss.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
we seek stockholder approval in connection with our initial business combination, our sponsors, officers and directors have agreed
to vote their founder shares and any public shares purchased during or after this offering in favor of our initial business combination.
As a result, in addition to the founder shares, we would need 3,875,001, or 38.75%, of the 10,000,000 public shares
sold in this offering to be voted in favor of a transaction (assuming all outstanding shares are voted) in order to have our initial
business combination approved (assuming the underwriters&rsquo; over-allotment option is not exercised). Furthermore, assuming
only the minimum number of stockholders required to be present at the stockholders&rsquo; meeting held to approve our initial
business combination are present at such meeting, we would need only 687,502 of the 10,000,000 public shares, or approximately
5.39% of the shares sold as part of the units in this offering, to be voted in favor of our initial business combination
in order to have such transaction approved (assuming the underwriters&rsquo; over-allotment option is not exercised). In addition,
in the event that our board of directors amends our bylaws to reduce the number of shares required to be present at a meeting
of our stockholders, we would need even fewer public shares to be voted in favor of our initial business combination to have such
transaction approved. 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 limitations described in the preceding paragraph).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pursuant
to our amended and restated certificate of incorporation, if we are unable to complete our initial business combination within
18 months from the closing of this offering, we will (i)&nbsp;cease all operations except for the purpose of winding up, (ii)&nbsp;as
promptly as reasonably possible but not more than ten business days thereafter, subject to lawfully available funds therefor,
redeem the public shares, at a&nbsp;per-share&nbsp;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&rsquo;
rights as stockholders (including the right to receive further liquidation distributions, if any), subject to applicable law,
and (iii)&nbsp;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 agreed to waive their rights to
liquidating distributions from the trust account with respect to their founder shares if we fail to complete our initial business
combination within 18 months from the closing of this offering (or up to 24 months from the closing of this offering if we extend
the period of time to consummate a business combination, as described in more detail in this prospectus). However, if our initial
stockholders acquire public shares after this offering, they will be entitled to liquidating distributions from the trust account
with respect to such public shares if we fail to complete our initial business combination within the prescribed time period.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
the event of a liquidation, dissolution or winding up of the company after a 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, including interest (which interest shall be net of taxes payable) upon the completion of our initial business
combination, subject to the limitations described herein.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Founder
Shares</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
founder shares are identical to the shares of common stock included in the units being sold in this offering, and holders of founder
shares have the same stockholder rights as public stockholders, except that (i)&nbsp;the founder shares are subject to certain
transfer restrictions, as described in more detail below; (ii)(A) our sponsors, officers and directors have entered into a letter
agreement with us, pursuant to which they have agreed to waive their redemption rights with respect to their founder shares and
public shares in connection with the completion of our initial business combination and (B)&nbsp;our sponsors, officers and directors
have agreed to waive their rights to liquidating distributions from the trust account with respect to their founder shares if
we fail to complete our initial business combination within 18 months from the closing of this offering (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 business combination within such time period); and (iii)&nbsp;the founder shares are subject to registration rights. If we
submit our initial business combination to our public stockholders for a vote, our sponsors, officers and directors have agreed
to vote their founder shares and any public shares purchased during or after this offering in favor of our initial business combination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">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 initial stockholders, each of whom will be subject to the same transfer restrictions)
until the earlier of one year after the completion of our initial business combination or earlier if, (x)&nbsp;subsequent to our
initial business combination, the last sale price of the 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&nbsp;30-trading&nbsp;day
period commencing at least 150&nbsp;days after our initial business combination, or (y)&nbsp;the date following the completion
of our initial business combination on which we complete a liquidation, merger, stock exchange or other similar transaction that
results in all of our public stockholders having the right to exchange their shares of common stock for cash, securities or other
property. Up to 375,000 founder shares will be forfeited by our sponsors depending on the exercise of the underwriters&rsquo;
over-allotment option.</FONT></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Preferred
Stock</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
amended and restated certificate of incorporation will provide that shares of preferred stock may be issued from time to time
in one or more series. Our board of directors will be authorized to fix the voting rights, if any, designations, powers, preferences,
the relative, participating, optional or other special rights and any qualifications, limitations and restrictions thereof, applicable
to the shares of each series. Our board of directors will be able to, without stockholder approval, issue preferred stock with
voting and other rights that could adversely affect the voting power and other rights of the holders of the common stock and could
have anti-takeover effects. The ability of our board of directors to issue preferred stock without stockholder approval could
have the effect of delaying, deferring or preventing a change of control of us or the removal of existing management. We have
no preferred stock outstanding at the date hereof. Although we do not currently intend to issue any shares of preferred stock,
we cannot assure you that we will not do so in the future. No shares of preferred stock are being issued or registered in this
offering.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Warrants</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Public
Warrants</FONT></P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Each
whole warrant entitles the registered holder to purchase one share of our 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 this offering or 30&nbsp;days
after the completion of our initial business combination, and only whole warrants are exercisable. Pursuant to the warrant agreement,
a warrant holder may exercise its warrants only for a whole number of shares of common stock. This means only a whole warrant
may be exercised at a given time by a warrant holder. No fractional warrants will be issued upon separation of the units and only
whole warrants will trade. Accordingly, unless you purchase at least two units, you will not be able to receive or trade a whole
warrant. The warrants will expire five years after the completion of our initial business combination, at 5:00 p.m., New&nbsp;York
City time, or earlier upon redemption or liquidation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
will not be obligated to deliver any shares of 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 with respect to the shares of 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 for cash, and we will not be obligated to issue any
shares to holders seeking to exercise their warrants, unless the issuance of the shares upon such exercise is registered or qualified
under the securities laws of the state of the exercising holder, or an exemption is available. Notwithstanding the foregoing,
if a registration statement covering the shares of common stock issuable upon exercise of the public warrants is not effective
within a specified period following the consummation of our initial business combination, warrant holders may, until such time
as there is an effective registration statement and during any period when we shall have failed to maintain an effective registration
statement, exercise warrants on a cashless basis pursuant to the exemption provided by Section&nbsp;3(a)(9) of the Securities
Act, provided that such exemption is available. If that exemption, or another exemption, is not available, holders will not be
able to exercise their warrants on a cashless basis.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
have agreed that as soon as practicable, but in no event later than 30 business days, after the closing of our initial business
combination, we will use our reasonable best efforts to file, and within 90 business days after the closing of our initial business
combination, to have declared effective, a registration statement relating to the shares of common stock issuable upon exercise
of the warrants and to maintain the effectiveness of such registration statement, and a current prospectus relating thereto, until
the expiration of the warrants in accordance with the provisions of the warrant agreement. Notwithstanding the above, if our common
stock is at the time of any exercise of a warrant not listed on a national securities exchange such that it satisfies the definition
of a &ldquo;covered security&rdquo; under Section&nbsp;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 &ldquo;cashless basis&rdquo; in accordance with Section&nbsp;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 will use our best efforts to qualify the shares under applicable blue sky laws to the extent an exemption is not available.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Once
the warrants become exercisable, we may call the warrants for redemption:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">in
                                         whole and not in part;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">at
                                         a price of $0.01 per warrant;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">upon
                                         not less than 30&nbsp;days&rsquo; prior written notice of redemption (the&nbsp;&ldquo;30-day&nbsp;redemption
                                         period&rdquo;) to each warrant holder; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">if,
                                         and only if, the reported last sale price of the common stock equals or exceeds $18.00
                                         per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations
                                         and the like) for any 20 trading days within a&nbsp;30-trading&nbsp;day period ending
                                         on the third trading day prior to the date we send to the notice of redemption to the
                                         warrant holders.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
may not redeem the warrants when a holder may not exercise such warrants.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
have established the last of the redemption criterion discussed above to prevent a redemption call unless there is at the time
of the call a significant premium to the warrant exercise price. If the foregoing conditions are satisfied and we issue a notice
of redemption of the warrants, each warrant holder will be entitled to exercise his, her or its warrant prior to the scheduled
redemption date. However, the price of the common stock may fall below the $18.00 redemption trigger price as well as the $11.50
warrant exercise price (for whole shares) after the redemption notice is issued.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
we call the warrants for redemption as described above, our management will have the option to require any holder that wishes
to exercise his, her or its warrant to do so on a &ldquo;cashless basis.&rdquo; In determining whether to require all holders
to exercise their warrants on a &ldquo;cashless basis,&rdquo; our management will consider, among other factors, our cash position,
the number of warrants that are outstanding and the dilutive effect on our stockholders of issuing the maximum number of shares
of common stock issuable upon the exercise of our warrants. If our management takes advantage of this option, all holders of warrants
would pay the exercise price by surrendering their warrants for that number of shares of common stock equal to the quotient obtained
by dividing (x)&nbsp;the product of the number of shares of common stock underlying the warrants, multiplied by the difference
between the exercise price of the warrants and the &ldquo;fair market value&rdquo; (defined below) by (y)&nbsp;the fair market
value. The &ldquo;fair market value&rdquo; shall mean the average reported last sale price of the common stock for the 10 trading
days ending on the third trading day prior to the date on which the notice of redemption is sent to the holders of warrants. If
our management takes advantage of this option, the notice of redemption will contain the information necessary to calculate the
number of shares of common stock to be received upon exercise of the warrants, including the &ldquo;fair market value&rdquo; in
such case. Requiring a cashless exercise in this manner will reduce the number of shares to be issued and thereby lessen the dilutive
effect of a warrant redemption. We believe this feature is an attractive option to us if we do not need the cash from the exercise
of the warrants after our initial business combination. If we call our warrants for redemption and our management does not take
advantage of this option, our initial stockholders and its permitted transferees would still be entitled to exercise their private
placement warrants for cash or on a cashless basis using the same formula described above that other warrant holders would have
been required to use had all warrant holders been required to exercise their warrants on a cashless basis, as described in more
detail below.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">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 and any of its affiliates
or any other person subject to aggregation with such person for purposes of the &ldquo;beneficial ownership&rdquo; test under
Section&nbsp;13 of the Exchange Act, or any &ldquo;group&rdquo; (within the meaning of Section&nbsp;13 of the Exchange Act) of
which such person is or may be deemed to be a part, would beneficially own (within the meaning of Section&nbsp;13 of the Exchange
Act) (or to the extent that for any reason the equivalent calculation under Section&nbsp;16 of the Exchange Act and the rules
and regulations thereunder would result in a higher ownership percentage, such higher percentage would be) in excess of 9.8% (or
such other amount as a holder may specify) of the shares of common stock outstanding immediately after giving effect to such exercise.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
the number of outstanding shares of common stock is increased by a stock dividend payable in shares of common stock, or by a&nbsp;split-up&nbsp;of
shares of common stock or other similar event, then, on the effective date of such stock dividend,&nbsp;split-up&nbsp;or similar
event, the number of shares of common stock issuable on exercise of each warrant will be increased in proportion to such increase
in the outstanding shares of common stock. A rights offering to holders of common stock entitling holders to purchase shares of
common stock at a price less than the fair market value will be deemed a stock dividend of a number of shares of common stock
equal to the product of (i)&nbsp;the number of shares of 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 common stock) multiplied
by (ii)&nbsp;one (1)&nbsp;minus the quotient of (x)&nbsp;the price per share of common stock paid in such rights offering divided
by (y)&nbsp;the fair market value. For these purposes (i)&nbsp;if the rights offering is for securities convertible into or exercisable
for common stock, in determining the price payable for common stock, there will be taken into account any consideration received
for such rights, as well as any additional amount payable upon exercise or conversion and (ii)&nbsp;fair market value means the
volume weighted average price of common stock as reported during the ten (10)&nbsp;trading day period ending on the trading day
prior to the first date on which the shares of common stock trade on the applicable exchange or in the applicable market, regular
way, without the right to receive such rights.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">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 common stock on account of such shares of common stock (or other shares of our capital
stock into which the warrants are convertible), other than (a)&nbsp;as described above, (b)&nbsp;certain ordinary cash dividends,
(c)&nbsp;to satisfy the redemption rights of the holders of common stock in connection with a proposed initial business combination,
(d)&nbsp;as a result of the repurchase of shares of common stock by the company if the proposed initial business combination is
presented to the stockholders of the company for approval, or (e)&nbsp;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 common stock in respect of such event.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
the number of outstanding shares of our common stock is decreased by a consolidation, combination, reverse stock split or reclassification
of shares of 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 common stock issuable on exercise of each warrant will be decreased
in proportion to such decrease in outstanding shares of common stock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Whenever
the number of shares of 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)&nbsp;the
numerator of which will be the number of shares of common stock purchasable upon the exercise of the warrants immediately prior
to such adjustment, and (y)&nbsp;the denominator of which will be the number of shares of common stock so purchasable immediately
thereafter.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
case of any reclassification or reorganization of the outstanding shares of common stock (other than those described above or
that solely affects the par value of such shares of 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 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 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. However, if such holders were entitled to exercise a right of election as to the
kind or amount of securities, cash or other assets receivable upon such consolidation or merger, then the kind and amount of securities,
cash or other assets for which each warrant will become exercisable will be deemed to be the weighted average of the kind and
amount received per share by such holders in such consolidation or merger that affirmatively make such election, and if a tender,
exchange or redemption offer has been made to and accepted by such holders (other than a tender, exchange or redemption offer
made by the company in connection with redemption rights held by stockholders of the company as provided for in the company&rsquo;s
amended and restated certificate of incorporation or as a result of the repurchase of shares of common stock by the company if
a proposed initial business combination is presented to the stockholders of the company for approval) under circumstances in which,
upon completion of such tender or exchange offer, the maker thereof, together with members of any group (within the meaning of&nbsp;Rule&nbsp;13d-5(b)(1)&nbsp;under
the Exchange Act) of which such maker is a part, and together with any affiliate or associate of such maker (within the meaning
of&nbsp;Rule&nbsp;12b-2&nbsp;under the Exchange Act) and any members of any such group of which any such affiliate or associate
is a part, own beneficially (within the meaning of&nbsp;Rule&nbsp;13d-3&nbsp;under the Exchange Act) more than 50% of the outstanding
shares of common stock , the holder of a warrant will be entitled to receive the highest amount of cash, securities or other property
to which such holder would actually have been entitled as a stockholder if such warrant holder had exercised the warrant prior
to the expiration of such tender or exchange offer, accepted such offer and all of the common stock held by such holder had been
purchased pursuant to such tender or exchange offer, subject to adjustments (from and after the consummation of such tender or
exchange offer) as nearly equivalent as possible to the adjustments provided for in the warrant agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
warrants will be issued in registered form under a warrant agreement between Continental Stock Transfer&nbsp;&amp; Trust Company,
as warrant agent, and us. You should review a copy of the warrant agreement, which will be filed as an exhibit to the registration
statement of which this prospectus is 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 65% of the then outstanding public warrants
to make any change that adversely affects the interests of the registered holders of public warrants.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
warrants may be exercised upon surrender of the warrant certificate on or prior to the expiration date at the offices of the warrant
agent, with the exercise form on the reverse side of the warrant certificate completed and executed as indicated, accompanied
by full payment of the exercise price (or on a cashless basis, if applicable), by certified or official bank check payable to
us, for the number of warrants being exercised. The warrant holders do not have the rights or privileges of holders of common
stock and any voting rights until they exercise their warrants and receive shares of common stock. After the issuance of shares
of common stock upon exercise of the warrants, each holder will be entitled to one vote for each share held of record on all matters
to be voted on by stockholders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">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 common
stock to be issued to the warrant holder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Private
Placement Warrants</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
private placement warrants (including the common stock issuable upon exercise of the private placement warrants) will (with limited
exceptions) not be transferable, assignable or salable until 30&nbsp;days after the completion of our initial business combination
and they will not be redeemable by us so long as they are held by the original holders or their permitted transferees. Otherwise,
the private placement warrants have terms and provisions that are identical to those of the warrants being sold as part of the
units in this offering. If the private placement warrants are held by holders other than the original holders or their 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 this offering.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
holders of the private placement warrants elect to exercise them on a cashless basis, they would pay the exercise price by surrendering
his, her or its warrants for that number of shares of common stock equal to the quotient obtained by dividing (x)&nbsp;the product
of the number of shares of common stock underlying the warrants, multiplied by the difference between the exercise price of the
warrants and the &ldquo;fair market value&rdquo; (defined below) by (y)&nbsp;the fair market value. The &ldquo;fair market value&rdquo;
shall mean the average reported last sale price of the common stock for the 10 trading days ending on the third trading day prior
to the date on which the notice of warrant exercise is sent to the warrant agent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
order to finance transaction costs in connection with an intended initial business combination, our initial stockholders or an
affiliate of our initial stockholders or certain of our officers and directors may, but are not obligated to, loan us funds as
may be required. Up to $1,500,000 of such working capital loans may be convertible, at the option of the lender, into private
placement-equivalent warrants at a price of $1.00 per warrant. The 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 initial stockholders
or its affiliates, or our officers and directors, if any, have not been determined and no written agreements exist with respect
to such loans.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
addition, holders of our private placement warrants are entitled to certain registration rights.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dividends</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
have not paid any cash dividends on our common stock to date and do not intend to pay cash dividends prior to the completion of
a business combination. The payment of cash dividends in the future will be dependent upon our revenues and earnings, if any,
capital requirements and general financial condition subsequent to completion of a business combination. The payment of any cash
dividends subsequent to a business combination will be within the discretion of our board of directors at such time. In addition,
our board of directors is not currently contemplating and does not anticipate declaring any stock dividends in the foreseeable
future, except if we increase the size of the offering, in which case we will effect a stock dividend with respect to our common
stock immediately prior to the consummation of the offering in such amount as to maintain the ownership of founder shares by our
initial stockholders prior to this offering at 20.0% of our issued and outstanding shares of our common stock upon the consummation
of this offering (excluding the Representative&rsquo;s shares). Further, if we incur any indebtedness, our ability to declare
dividends may be limited by restrictive covenants we may agree to in connection therewith.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
Transfer Agent and Warrant Agent</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
transfer agent for our common stock and warrant agent for our warrants is Continental Stock Transfer&nbsp;&amp; Trust Company.
We have agreed to indemnify Continental Stock Transfer&nbsp;&amp; Trust Company in its roles as transfer agent and warrant agent,
its agents and each of its stockholders, directors, officers and employees against all liabilities, including judgments, costs
and reasonable counsel fees 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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
Amended and Restated Certificate of Incorporation</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Provisions
Relating to this Offering</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
amended and restated certificate of incorporation will contain certain requirements and restrictions relating to this 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 common stock. Our initial stockholders, who will collectively beneficially own
20.0% of our common stock upon the closing of this offering (excluding the Representative&rsquo;s shares), will 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. Specifically, our amended and restated certificate of incorporation will provide, among other things, that:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">if
                                         we are unable to complete our initial business combination within 18 months from the
                                         closing of this offering (or up to 24 months from the closing of this offering if we
                                         extend the period of time to consummate a business combination, as described in more
                                         detail in this prospectus), we will (i)&nbsp;cease all operations except for the purpose
                                         of winding up, (ii)&nbsp;as promptly as reasonably possible but not more than ten business
                                         days thereafter, subject to lawfully available funds therefor, redeem 100% of the public
                                         shares, at a&nbsp;per-share&nbsp;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&rsquo; rights as stockholders (including the right to receive further
                                         liquidation distributions, if any), subject to applicable law, and (iii)&nbsp;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;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">prior
                                         to our initial business combination, we may not issue additional shares of capital stock
                                         that would entitle the holders thereof to (i)&nbsp;receive funds from the trust account
                                         or (ii)&nbsp;vote on any initial business combination;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">so
                                         long as we obtain and maintain a listing for our securities on Nasdaq, our initial business
                                         combination must be with one or more target businesses that together have an aggregate
                                         fair market value equal to at least 80% of the value of the assets held in the trust
                                         account (excluding taxes payable on the interest earned on the trust account) at the
                                         time of our signing a definitive agreement in connection with our initial business combination;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">if
                                         our stockholders approve an amendment to our amended and restated certificate of incorporation
                                         (i)&nbsp;to modify the substance or timing of our obligation to redeem 100% of our public
                                         shares if we do not complete our initial business combination within 18 months from the
                                         closing of this offering or (ii)&nbsp;with respect to any other provision relating to
                                         stockholders&rsquo; rights or&nbsp;pre-business&nbsp;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&nbsp;per-share&nbsp;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</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">we
                                         will not effectuate our initial business combination with another blank check company
                                         or a similar company with nominal operations.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">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 both immediately before and after the
consummation of our initial business combination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Certain
Anti-Takeover Provisions of Delaware Law and our Amended and Restated Certificate of Incorporation and Bylaws</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
will be subject to the provisions of Section&nbsp;203 of the DGCL regulating corporate takeovers upon completion of this offering.
This statute prevents certain Delaware corporations, under certain circumstances, from engaging in a &ldquo;business combination&rdquo;
with:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">a
                                         stockholder who owns 15% or more of our outstanding voting stock (otherwise known as
                                         an &ldquo;interested stockholder&rdquo;);</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">an
                                         affiliate of an interested stockholder; or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">an
                                         associate of an interested stockholder, for three years following the date that the stockholder
                                         became an interested stockholder.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">A
&ldquo;business combination&rdquo; includes a merger or sale of more than 10% of our assets. However, the above provisions of
Section&nbsp;203 do not apply if:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">our
                                         board of directors approves the transaction that made the stockholder an &ldquo;interested
                                         stockholder,&rdquo; prior to the date of the transaction;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">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</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">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&nbsp;two-thirds&nbsp;of the outstanding voting
                                         stock not owned by the interested stockholder.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
authorized but unissued common stock and preferred stock are available for future issuances without stockholder approval and could
be utilized for a variety of corporate purposes, including future offerings to raise additional capital, acquisitions and employee
benefit plans. The existence of authorized but unissued and unreserved 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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Exclusive
Forum for Certain Lawsuits</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
amended and restated certificate of incorporation will require, unless we consent in writing to the selection of an alternative
forum, that (i)&nbsp;any derivative action or proceeding brought on our behalf, (ii)&nbsp;any action asserting a claim of breach
of a fiduciary duty owed by any director, officer or other employee to us or our stockholders, (iii)&nbsp;any action asserting
a claim against us, our directors, officers or employees arising pursuant to any provision of the DGCL or our amended and restated
certificate of incorporation or bylaws, or (iv)&nbsp;any action asserting a claim against us, our directors, officers or employees
governed by the internal affairs doctrine may be brought only in the Court of Chancery in the State of Delaware, except any claim
(A)&nbsp;as to which the Court of Chancery of 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)&nbsp;for which the Court of Chancery does not have subject matter jurisdiction,
or (D)&nbsp;any action arising under the Securities Act, as to which the Court of Chancery and the federal district court for
the District of Delaware shall have concurrent 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&rsquo;s counsel. 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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Notwithstanding
the foregoing, our amended and restated certificate of incorporation will provide that the exclusive forum provision will not
apply to suits brought to enforce a duty or liability created by the Exchange Act or any other claim for which the federal courts
have exclusive jurisdiction. Section&nbsp;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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Special
Meeting of Stockholders</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
bylaws provide that special meetings of our stockholders may be called only by a majority vote of our board of directors, by our
Chief Executive Officer or by our Chairman.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Advance
Notice Requirements for Stockholder Proposals and Director Nominations</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
bylaws provide that stockholders seeking to bring business before our annual meeting of stockholders, or to nominate candidates
for election as directors at our annual meeting of stockholders must provide timely notice of their intent in writing. To be timely,
a stockholder&rsquo;s notice will need to be received by the company secretary at our principal executive offices not later than
the close of business on the 90<SUP>th</SUP>&nbsp;day nor earlier than the opening of business on the 120<SUP>th</SUP>&nbsp;day
prior to the anniversary of the immediately preceding annual meeting of stockholders. Pursuant to&nbsp;Rule&nbsp;14a-8&nbsp;of
the Exchange Act, proposals seeking inclusion in our annual proxy statement must comply with the notice periods contained therein.
Our bylaws also specify certain requirements as to the form and content of a stockholders&rsquo; meeting. These provisions may
preclude our stockholders from bringing matters before our annual meeting of stockholders or from making nominations for directors
at our annual meeting of stockholders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Action
by Written Consent</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Subsequent
to the consummation of the 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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Securities
Eligible for Future Sale</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Immediately
after this offering we will have 12,750,000 (or 14,662,500 if the underwriters&rsquo; over-allotment option is exercised in full)
shares of common stock outstanding. The 10,000,000 shares (or 11,500,000 shares if the underwriters&rsquo; over-allotment option
is exercised in full) sold in this offering will be freely tradable without restriction or further registration under the Securities
Act, except for any shares purchased by one of our affiliates within the meaning of Rule&nbsp;144 under the Securities Act. All
of the 2,500,000 (or 2,875,000 if the underwriters&rsquo; over-allotment option is exercised in full) founder shares are restricted
securities under Rule&nbsp;144, in that they were issued in private transactions not involving a public offering, and are subject
to transfer restrictions as set forth elsewhere in this prospectus. These restricted securities will be subject to registration
rights as more fully described below under &ldquo;&mdash; Registration Rights.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Rule&nbsp;144</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pursuant
to Rule&nbsp;144, a person who has beneficially owned restricted shares of our common stock or warrants for at least six months
would be entitled to sell their securities provided that (i)&nbsp;such person is not deemed to have been one of our affiliates
at the time of, or at any time during the three months preceding, a sale and (ii)&nbsp;we are subject to the Exchange Act periodic
reporting requirements for at least three months before the sale and have filed all required reports under Section&nbsp;13 or
15(d) of the Exchange Act during the 12 months (or such shorter period as we were required to file reports) preceding the sale.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Persons
who have beneficially owned restricted shares of our common stock or warrants for at least six months but who are our affiliates
at the time of, or at any time during the three months preceding, a sale, would be subject to additional restrictions, by which
such person would be entitled to sell within any three-month period only a number of securities that does not exceed the greater
of:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">1%
                                         of the total number of shares of common stock then outstanding, which will equal __________
                                         shares immediately after this offering (or _______ if the underwriters exercise the underwriters&rsquo;
                                         over-allotment option in full); or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                         average weekly reported trading volume of the common stock during the four calendar weeks
                                         preceding the filing of a notice on Form&nbsp;144 with respect to the sale.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Sales
by our affiliates under Rule&nbsp;144 are also limited by manner of sale provisions and notice requirements and to the availability
of current public information about us.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Restrictions
on the Use of Rule&nbsp;144 by Shell Companies or Former Shell Companies</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Rule&nbsp;144
is not available for the resale of securities initially issued by shell companies (other than business combination related shell
companies) or issuers that have been at any time previously a shell company. However, Rule&nbsp;144 also includes an important
exception to this prohibition if the following conditions are met:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                         issuer of the securities that was formerly a shell company has ceased to be a shell company;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                         issuer of the securities is subject to the reporting requirements of Section&nbsp;13
                                         or 15(d) of the Exchange Act;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                         issuer of the securities has filed all Exchange Act reports and materials required to
                                         be filed, as applicable, during the preceding 12 months (or such shorter period that
                                         the issuer was required to file such reports and materials), other than&nbsp;Form&nbsp;8-K&nbsp;reports;
                                         and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">at
                                         least one year has elapsed from the time that the issuer filed current Form&nbsp;10 type
                                         information with the SEC reflecting its status as an entity that is not a shell company.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
a result, our initial stockholders will be able to sell their founder shares and private placement warrants (and underlying securities),
as applicable, pursuant to Rule&nbsp;144 without registration one year after we have completed our initial business combination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Registration
Rights</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
holders of the founder shares, the private placement warrants (and underlying securities) and private placement warrants that
may be issued upon conversion of working capital loans (and any underlying securities) will be entitled to registration rights
pursuant to a registration rights agreement to be signed prior to or on the closing date of this offering requiring us to register
such securities for resale. The holders of these securities are entitled to make up to three demands, excluding short form demands,
that we register such securities. In addition, the holders have certain &ldquo;piggy-back&rdquo; registration rights with respect
to registration statements filed subsequent to the completion of our initial business combination. However, the registration rights
agreement provides that we will not permit any registration statement filed under the Securities Act to become effective until
termination of the applicable&nbsp;lock-up&nbsp;period described above &ldquo;Principal Stockholders &mdash; Transfers of Founder
Shares, Private Placement Warrants and Underlying Securities.&rdquo; We will bear the expenses incurred in connection with the
filing of any such registration statements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Listing
of Securities</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
intend to apply to list our units, common stock and warrants on Nasdaq under the symbols &ldquo;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U,&rdquo;
&ldquo;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo; and &ldquo;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;W,&rdquo;
respectively. We expect that our units will be listed on Nasdaq on or promptly after the effective date of the registration statement.
Following the date the shares of our common stock and warrants are eligible to trade separately, we anticipate that the shares
of our common stock and warrants will be listed separately on Nasdaq. At the time that the common stock and warrants comprising
the units begin separate trading, holders will hold the separate securities and no longer hold units (without any action needing
to be taken by the holders), and the units will no longer trade.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="a_015"></A>UNITED
STATES FEDERAL INCOME TAX CONSIDERATIONS</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
following is a discussion of U.S. federal income tax considerations generally applicable to the acquisition, ownership and disposition
of our units, shares of common stock and warrants, which we refer to collectively as our securities. Because the components of
a unit are separable at the option of the holder, the holder of a unit generally should be treated, for U.S. federal income tax
purposes, as the owner of the underlying common stock and warrant components of the unit, as the case may be. As a result, the
discussion below with respect to actual holders of common stock and warrants should also apply to holders of units (as the deemed
owners of the underlying common stock and warrants that comprise the units). This discussion applies only to securities that are
held as a capital asset for U.S. federal income tax purposes and is applicable only to holders who purchased units in this offering.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">This
discussion does not describe all of the tax consequences that may be relevant to you in light of your particular circumstances,
including the alternative minimum tax, the Medicare tax on certain investment income and the different consequences that may apply
if you are subject to special rules that apply to certain types of investors, including but not limited to:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">financial
                                         institutions;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">insurance
                                         companies;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">dealers
                                         or traders subject to a&nbsp;mark-to-market&nbsp;method of accounting with respect to
                                         the securities;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">persons
                                         holding the securities as part of a &ldquo;straddle,&rdquo; hedge, integrated transaction
                                         or similar transaction;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">U.S.
                                         holders (as defined below) whose functional currency is not the U.S. dollar;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">partnerships
                                         or other pass-through entities for U.S. federal income tax purposes and any beneficial
                                         owners of such entities; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">tax-exempt&nbsp;entities.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
a partnership (including an entity or arrangement treated as a partnership for U.S. federal income tax purposes) holds our securities,
the tax treatment of a partner, member or other beneficial owner in such partnership will generally depend upon the status of
the partner, member or other beneficial owner, the activities of the partnership and certain determinations made at the partner,
member or other beneficial owner level. If you are a partner, member or other beneficial owner of a partnership holding our securities,
you are urged to consult your tax advisor regarding the tax consequences of the ownership and disposition of our securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">This
discussion is based on the Internal Revenue Code of 1986, as amended (the &ldquo;Code&rdquo;), and administrative pronouncements,
judicial decisions and final, temporary and proposed Treasury regulations as of the date hereof, changes to any of which subsequent
to the date of this prospectus may affect the tax consequences described herein. This discussion does not address any aspect of
state, local or&nbsp;non-U.S.&nbsp;taxation, or any U.S. federal taxes other than income taxes (such as gift and estate taxes).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">You
are urged to consult your tax advisor with respect to the application of U.S. federal tax laws to your particular situation, as
well as any tax consequences arising under the laws of any state, local or foreign jurisdiction.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Personal
Holding Company Status</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
could be subject to a second level of U.S. federal income tax on a portion of our income if we are determined to be a personal
holding company, or PHC, for U.S. federal income tax purposes. A U.S. corporation generally will be classified as a PHC for U.S.
federal income tax purposes in a given taxable year if (i)&nbsp;at any time during the last half of such taxable year, five or
fewer individuals (without regard to their citizenship or residency and including as individuals for this purpose certain entities
such as certain&nbsp;tax-exempt&nbsp;organizations, pension funds and charitable trusts) own or are deemed to own (pursuant to
certain constructive ownership rules) more than 50% of the stock of the corporation by value and (ii)&nbsp;at least 60% of the
corporation&rsquo;s adjusted ordinary gross income, as determined for U.S. federal income tax purposes, for such taxable year
consists of PHC income (which includes, among other things, dividends, interest, certain royalties, annuities and, under certain
circumstances, rents).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Depending
on the date and size of our initial business combination, at least 60% of our adjusted ordinary gross income may consist of PHC
income as discussed above. In addition, depending on the concentration of our stock in the hands of individuals, including certain&nbsp;tax-exempt&nbsp;organizations,
pension funds and charitable trusts, more than 50% of our stock may be owned or deemed owned (pursuant to the constructive ownership
rules) by such persons during the last half of a taxable year. Thus, no assurance can be given that we will not be a PHC following
this offering or in the future. If we are or were to become a PHC in a given taxable year, we would be subject to an additional
PHC tax, currently 20%, on our undistributed PHC income, which generally includes our taxable income, subject to certain adjustments.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Allocation
of Purchase Price and Characterization of a Unit</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">No
statutory, administrative or judicial authority directly addresses the treatment of a unit for U.S. federal income tax purposes
and, therefore, that treatment is not entirely clear. The acquisition of a unit should be treated for U.S. federal income tax
purposes as the acquisition of one share of our common stock and&nbsp;one-half&nbsp;of one warrant to acquire one share of our
common stock. We intend to treat the acquisition of a unit in this manner and, by purchasing a unit, you will agree to adopt such
treatment for U.S. federal income tax purposes. For U.S. federal income tax purposes, each holder of a unit must allocate the
purchase price paid by such holder for such unit between the one share of common stock and the&nbsp;one-half&nbsp;of one warrant
based on the relative fair market value of each at the time of issuance. The price allocated to each share of common stock and
the&nbsp;one-half&nbsp;of one warrant should be the stockholder&rsquo;s tax basis in such share or warrant, as the case may be.
Any disposition of a unit should be treated for U.S. federal income tax purposes as a disposition of the share of common stock
and&nbsp;one-half&nbsp;of one warrant comprising the unit, and the amount realized on the disposition should be allocated between
the common stock and&nbsp;one-half&nbsp;of one warrant based on their respective relative fair market values at the time of disposition.
The separation of shares of common stock and warrants comprising units should not be a taxable event for U.S. federal income tax
purposes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
foregoing treatment of the shares of common stock and warrants and a holder&rsquo;s purchase price allocation are not binding
on the Internal Revenue Service (&ldquo;IRS&rdquo;) or the courts. Because there are no authorities that directly address the
units, no assurance can be given that the IRS or the courts will agree with the characterization described above or the discussion
below. Accordingly, each prospective investor is urged to consult its own tax advisors regarding the tax consequences of an investment
in a unit (including alternative characterizations of a unit). The balance of this discussion assumes that the characterization
of the units described above is respected for U.S. federal income tax purposes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">U.S.
Holders</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">This
section applies to you if you are a &ldquo;U.S. holder.&rdquo; A U.S. holder is a beneficial owner of our units, shares of common
stock or warrants who or that is, for U.S. federal income tax purposes:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">an
                                         individual who is a citizen or resident of the United&nbsp;States;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">a
                                         corporation (or other entity taxable as a corporation for U.S. federal income tax purposes)
                                         organized in or under the laws of the United&nbsp;States, any state thereof or the District
                                         of Columbia;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">an
                                         estate the income of which is includible in gross income for United&nbsp;States federal
                                         income tax purposes regardless of its source; or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">a
                                         trust (A)&nbsp;the administration of which is subject to the primary supervision of a
                                         United&nbsp;States court and which has one or more United&nbsp;States persons (within
                                         the meaning of the Code) who have the authority to control all substantial decisions
                                         of the trust or (B)&nbsp;that has in effect a valid election under applicable Treasury
                                         regulations to be treated as a United&nbsp;States person.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Taxation
of Distributions</I>. If we pay distributions to U.S. holders of shares of our common stock, such distributions generally will
constitute dividends for U.S. federal income tax purposes to the extent paid from our current or accumulated earnings and profits,
as determined under U.S. federal income tax principles. Distributions in excess of current and accumulated earnings and profits
will constitute a return of capital that will be applied against and reduce (but not below zero) the U.S. holder&rsquo;s adjusted
tax basis in our common stock. Any remaining excess will be treated as gain realized on the sale or other disposition of the common
stock and will be treated as described under &ldquo;U.S. Holders&nbsp;&mdash; Gain or Loss on Sale, Taxable Exchange or Other
Taxable Disposition of Common Stock and Warrants&rdquo; below.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dividends
we pay to a U.S. holder that is a taxable corporation generally will qualify for the dividends received deduction if the requisite
holding period is satisfied. With certain exceptions (including, but not limited to, dividends treated as investment income for
purposes of investment interest deduction limitations), and provided certain holding period requirements are met, dividends we
pay to a&nbsp;non-corporate&nbsp;U.S. holder generally will constitute &ldquo;qualified dividends&rdquo; that will be subject
to tax at the maximum tax rate accorded to long-term capital gains. It is unclear whether the redemption rights with respect to
the common stock described in this prospectus may prevent a U.S. holder from satisfying the applicable holding period requirements
with respect to the dividends received deduction or the preferential tax rate on qualified dividend income, as the case may be.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Gain
or Loss on Sale, Taxable Exchange or Other Taxable Disposition of Common Stock and Warrants.</I>&nbsp;Upon a sale or other taxable
disposition of our common stock or warrants which, in general, would include a redemption of common stock or warrants that is
treated as a sale of such securities as described below, and including as a result of a dissolution and liquidation in the event
we do not consummate an initial business combination within the required time period, a U.S. holder generally will recognize capital
gain or loss in an amount equal to the difference between the amount realized and the U.S. holder&rsquo;s adjusted tax basis in
the common stock or warrants. Any such capital gain or loss generally will be long-term capital gain or loss if the U.S. holder&rsquo;s
holding period for the common stock or warrants so disposed of exceeds one year. It is unclear, however, whether the redemption
rights with respect to the common stock described in this prospectus may suspend the running of the applicable holding period
for this purpose. Long-term capital gains recognized by&nbsp;non-corporate&nbsp;U.S. holders will be eligible to be taxed at reduced
rates. The deductibility of capital losses is subject to limitations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Generally,
the amount of gain or loss recognized by a U.S. holder is an amount equal to the difference between (i)&nbsp;the sum of the amount
of cash and the fair market value of any property received in such disposition (or, if the common stock or warrants are held as
part of units at the time of the disposition, the portion of the amount realized on such disposition that is allocated to the
common stock or the warrants based upon the then fair market values of the common stock and the warrants included in the units)
and (ii)&nbsp;the U.S. holder&rsquo;s adjusted tax basis in its common stock or warrants so disposed of. A U.S. holder&rsquo;s
adjusted tax basis in its common stock or warrants generally will equal the U.S. holder&rsquo;s acquisition cost (that is, as
discussed above, the portion of the purchase price of a unit allocated to a share of common stock or one warrant or, as discussed
below, the U.S. holder&rsquo;s initial basis for common stock received upon exercise of warrants) less, in the case of a share
of common stock, any prior distributions treated as a return of capital.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Redemption
of Common Stock.</I>&nbsp;In the event that a U.S. holder&rsquo;s common stock is redeemed pursuant to the redemption provisions
described in this prospectus under &ldquo;Description of Securities&nbsp;&mdash; Common Stock&rdquo; or if we purchase a U.S.
holder&rsquo;s common stock in an open market transaction, the treatment of the transaction for U.S. federal income tax purposes
will depend on whether the redemption qualifies as sale of the common stock under Section&nbsp;302 of the Code. If the redemption
qualifies as a sale of common stock, the U.S. holder will be treated as described under &ldquo;U.S. Holders&nbsp;&mdash; Gain
or Loss on Sale, Taxable Exchange or Other Taxable Disposition of Common Stock and Warrants&rdquo; above. If the redemption does
not qualify as a sale of common stock, the U.S. holder will be treated as receiving a corporate distribution with the tax consequences
described above under &ldquo;U.S.&nbsp;Holders&nbsp;&mdash; Taxation of Distributions.&rdquo; Whether a redemption qualifies for
sale treatment will depend largely on the total number of shares of our stock treated as held by the U.S. holder (including any
stock constructively owned by the U.S. holder as a result of owning warrants) relative to all of our shares outstanding both before
and after the redemption. The redemption of common stock generally will be treated as a sale of the common stock (rather than
as a corporate distribution) if the redemption (i)&nbsp;is &ldquo;substantially disproportionate&rdquo; with respect to the U.S.
holder, (ii)&nbsp;results in a &ldquo;complete termination&rdquo; of the U.S. holder&rsquo;s interest in us or (iii)&nbsp;is &ldquo;not
essentially equivalent to a dividend&rdquo; with respect to the U.S. holder. These tests are explained more fully below.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
determining whether any of the foregoing tests are satisfied, a U.S. holder takes into account not only stock actually owned by
the U.S. holder, but also shares of our stock that are constructively owned by it. A U.S. holder may constructively own, in addition
to stock owned directly, stock owned by certain related individuals and entities in which the U.S. holder has an interest or that
have an interest in such U.S. holder, as well as any stock the U.S. holder has a right to acquire by exercise of an option, which
would generally include common stock which could be acquired pursuant to the exercise of the warrants. In order to meet the substantially
disproportionate test, the percentage of our outstanding voting stock actually and constructively owned by the U.S. holder immediately
following the redemption of common stock must, among other requirements, be less than 80% of the percentage of our outstanding
voting stock actually and constructively owned by the U.S. holder immediately before the redemption. There will be a complete
termination of a U.S. holder&rsquo;s interest if either (i)&nbsp;all of the shares of our stock actually and constructively owned
by the U.S. holder are redeemed or (ii)&nbsp;all of the shares of our stock actually owned by the U.S. holder are redeemed and
the U.S. holder is eligible to waive, and effectively waives in accordance with specific rules, the attribution of stock owned
by certain family members and the U.S. holder does not constructively own any other stock. The redemption of the common stock
will not be essentially equivalent to a dividend if a U.S. holder&rsquo;s conversion results in a &ldquo;meaningful reduction&rdquo;
of the U.S. holder&rsquo;s proportionate interest in us. Whether the redemption will result in a meaningful reduction in a U.S.
holder&rsquo;s proportionate interest in us will depend on the particular facts and circumstances. However, the IRS has indicated
in a published ruling that even a small reduction in the proportionate interest of a small minority stockholder in a publicly
held corporation who exercises no control over corporate affairs may constitute such a &ldquo;meaningful reduction.&rdquo; A U.S.
holder should consult with its own tax advisors as to the tax consequences of a redemption.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
none of the foregoing tests is satisfied, then the redemption will be treated as a corporate distribution and the tax effects
will be as described under &ldquo;U.S. Holders&nbsp;&mdash; Taxation of Distributions,&rdquo; above. After the application of
those rules, any remaining tax basis of the U.S. holder in the redeemed common stock will be added to the U.S. holder&rsquo;s
adjusted tax basis in its remaining stock, or, if it has none, to the U.S. holder&rsquo;s adjusted tax basis in its warrants or
possibly in other stock constructively owned by it.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Exercise
or Lapse of a Warrant.</I>&nbsp;Except as discussed below with respect to the cashless exercise of a warrant, a U.S. holder generally
will not recognize taxable gain or loss the acquisition of common stock upon exercise of a warrant for cash. The U.S. holder&rsquo;s
tax basis in the share of our common stock received upon exercise of the warrant generally will be an amount equal to the sum
of the U.S. holder&rsquo;s initial investment in the warrant (i.e., the portion of the U.S. holder&rsquo;s purchase price for
units that is allocated to the warrant, as described above under &ldquo;&mdash; Allocation of Purchase Price and Characterization
of a Unit&rdquo;) and the exercise price. The U.S. holder&rsquo;s holding period for the common stock received upon exercise of
the warrants will begin on the date following the date of exercise (or possibly the date of exercise) of the warrants and will
not include the period during which the U.S. holder held the warrants. If a warrant is allowed to lapse unexercised, a U.S. holder
generally will recognize a capital loss equal to such holder&rsquo;s tax basis in the warrant.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
tax consequences of a cashless exercise of a warrant are not clear under current tax law. A cashless exercise may be&nbsp;tax-free,&nbsp;either
because the exercise is not a realization event or because the exercise is treated as a recapitalization for U.S. federal income
tax purposes. In either&nbsp;tax-free&nbsp;situation, a U.S. holder&rsquo;s basis in the common stock received would equal the
holder&rsquo;s basis in the warrant. If the cashless exercise were treated as not being a realization event, a U.S. holder&rsquo;s
holding period in the common stock would be treated as commencing on the date following the date of exercise (or possibly the
date of exercise) of the warrant. If the cashless exercise were treated as a recapitalization, the holding period of the common
stock would include the holding period of the warrant.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">It
is also possible that a cashless exercise could be treated as a taxable exchange in which gain or loss would be recognized. In
such event, a U.S. holder would recognize gain or loss with respect to the portion of the exercised warrants treated as surrendered
to pay the exercise price of the warrants (the &ldquo;surrendered warrants&rdquo;). The U.S. holder would recognize capital gain
or loss in an amount equal to the difference between the fair market value of the common stock represented by the surrendered
warrants and the sum of the U.S. holder&rsquo;s tax basis in the surrendered warrants and the aggregate exercise price of the
surrendered warrants (if they had been exercised in a regular exercise). In this case, a U.S. holder&rsquo;s tax basis in the
common stock received would equal the sum of the U.S. holder&rsquo;s initial investment in the warrants exercised (i.e., the portion
of the U.S. holder&rsquo;s purchase price for the units that is allocated to the warrant, as described above under &ldquo;&mdash;
Allocation of Purchase Price and Characterization of a Unit&rdquo;) and the aggregate exercise price of such warrants. A U.S.
holder&rsquo;s holding period for the common stock would commence on the date following the date of exercise (or possibly the
date of exercise) of the warrant.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Due
to the absence of authority on the U.S. federal income tax treatment of a cashless exercise, there can be no assurance which,
if any, of the alternative tax consequences and holding periods described above would be adopted by the IRS or a court of law.
Accordingly, U.S. holders should consult their tax advisors regarding the tax consequences of a cashless exercise.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Possible
Constructive Distributions.</I>&nbsp;The terms of each warrant provide for an adjustment to the number of shares of common stock
for which the warrant may be exercised or to the exercise price of the warrant in certain events, as discussed in the section
of this prospectus entitled &ldquo;Description of Securities &mdash; Warrants&nbsp;&mdash; Public Stockholders&rsquo; Warrants.&rdquo;
An adjustment which has the effect of preventing dilution generally is not taxable. U.S. holders of the warrants would, however,
be treated as receiving a constructive distribution from us if, for example, the adjustment to the number of such shares or to
such exercise price increases the warrant holders&rsquo; proportionate interest in our assets or earnings and profits (e.g., through
an increase in the number of shares of common stock that would be obtained upon exercise or through a decrease in the exercise
price of the warrant) as a result of a distribution of cash or other property, such as other securities, to the holders of shares
of our common stock, or as a result of the issuance of a stock dividend to holders of shares of our common stock, in each case
which is taxable to the holders of such shares as a distribution. A U.S. holder would be subject to tax on any such constructive
distribution in the same manner as if the U.S. holder received a cash distribution from us equal to the fair market value of such
increased interest.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Non-U.S.&nbsp;Holders</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">This
section applies to you if you are a&nbsp;&ldquo;Non-U.S.&nbsp;holder.&rdquo; A&nbsp;Non-U.S.&nbsp;holder is a beneficial owner
of our units who or that is not a U.S. Holder or a partnership (or other entity or arrangement treated as a partnership) for U.S.
federal income tax purposes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Taxation
of Distributions.</I>&nbsp;In general, any distributions we make to a&nbsp;Non-U.S.&nbsp;holder of shares of our common stock,
to the extent paid out of our current or accumulated earnings and profits (as determined under U.S. federal income tax principles),
will constitute dividends for U.S. federal income tax purposes and, provided such dividends are not effectively connected with
the&nbsp;Non-U.S.&nbsp;holder&rsquo;s conduct of a trade or business within the United&nbsp;States, we will be required to withhold
tax from the gross amount of the dividend at a rate of 30%, unless such&nbsp;Non-U.S.&nbsp;holder is eligible for a reduced rate
of withholding tax under an applicable income tax treaty and provides proper certification of its eligibility for such reduced
rate (usually on an IRS&nbsp;Form&nbsp;W-8BEN&nbsp;or&nbsp;W-8BEN-E).&nbsp;Any distribution not constituting a dividend will be
treated first as reducing (but not below zero) the&nbsp;Non-U.S.&nbsp;holder&rsquo;s adjusted tax basis in its shares of our common
stock and, to the extent such distribution exceeds the&nbsp;Non-U.S.&nbsp;holder&rsquo;s adjusted tax basis, as gain realized
from the sale or other disposition of the common stock, which will be treated as described under&nbsp;&ldquo;Non-U.S.&nbsp;Holders&nbsp;&mdash;
Gain on Sale, Taxable Exchange or Other Taxable Disposition of Common Stock and Warrants&rdquo; below. In addition, if we determine
that we are classified as a &ldquo;United&nbsp;States real property holding corporation&rdquo; (see&nbsp;&ldquo;Non-U.S.&nbsp;Holders&nbsp;&mdash;
Gain on Sale, Taxable Exchange or Other Taxable Disposition of Common Stock and Warrants&rdquo; below), we will withhold 15% of
any distribution that exceeds our current and accumulated earnings and profits.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dividends
we pay to a&nbsp;Non-U.S.&nbsp;holder that are effectively connected with the&nbsp;Non-U.S.&nbsp;holder&rsquo;s conduct of a trade
or business within the United&nbsp;States (or if a tax treaty applies are attributable to a United&nbsp;States permanent establishment
or fixed base maintained by the&nbsp;Non-U.S.&nbsp;holder) will generally not be subject to U.S. withholding tax, provided such&nbsp;Non-U.S.&nbsp;holder
complies with certain certification and disclosure requirements (usually by providing an applicable IRS&nbsp;Form&nbsp;W-8).&nbsp;Instead,
such dividends will generally be subject to U.S. federal income tax as if the&nbsp;Non-U.S.&nbsp;holder were a U.S. resident,
subject to an applicable tax treaty providing otherwise. A&nbsp;Non-U.S.&nbsp;corporation receiving effectively connected dividends
may also be subject to an additional &ldquo;branch profits tax&rdquo; imposed at a rate of 30% (or a lower treaty rate).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Exercise
of a Warrant.</I>&nbsp;The U.S. federal income tax treatment of a&nbsp;Non-U.S.&nbsp;holder&rsquo;s exercise of a warrant, or
the lapse of a warrant held by a&nbsp;Non-U.S.&nbsp;holder generally will correspond to the U.S. federal income tax treatment
of a warrant by a U.S. holder, as described under &ldquo;U.S. Holders&nbsp;&mdash; Exercise or Lapse of a Warrant&rdquo; above,
although to the extent a cashless exercise results in a taxable exchange, the consequences would be similar to those described
below in&nbsp;&ldquo;Non-U.S.&nbsp;Holders&nbsp;&mdash; Gain on Sale, Taxable Exchange or Other Taxable Disposition of Common
Stock and Warrants.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Gain
on Sale, Taxable Exchange or Other Taxable Disposition of Common Stock and Warrants.</I>&nbsp;A&nbsp;Non-U.S.&nbsp;holder generally
will not be subject to U.S. federal income or withholding tax in respect of gain realized on a sale, taxable exchange or other
taxable disposition of our common stock, which would include a dissolution and liquidation in the event we do not complete an
initial business combination within 18 months from the closing of this offering, or warrants (including an expiration or redemption
of our warrants), in each case without regard to whether those securities were held as part of a unit, unless:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                         gain is effectively connected with the conduct of a trade or business by the&nbsp;Non-U.S.&nbsp;holder
                                         within the United&nbsp;States (or if a tax treaty applies are attributable to a United&nbsp;States
                                         permanent establishment or fixed base maintained by the&nbsp;Non-U.S.&nbsp;holder);</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The&nbsp;Non-U.S.&nbsp;holder
                                         is an individual present in the United&nbsp;States for 183&nbsp;days or more in the taxable
                                         year of disposition and certain other conditions are met; or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">we
                                         are or have been a &ldquo;United&nbsp;States real property holding corporation&rdquo;
                                         for U.S. federal income tax purposes at any time during the shorter of the five-year
                                         period ending on the date of disposition or the period that the&nbsp;Non-U.S.&nbsp;holder
                                         held our common stock, and, in the case where shares of our common stock are regularly
                                         traded on an established securities market, the&nbsp;Non-U.S.&nbsp;holder has owned,
                                         directly or constructively, more than 5% of our common stock at any time within the shorter
                                         of the five-year period preceding the disposition or such&nbsp;Non-U.S.&nbsp;holder&rsquo;s
                                         holding period for the shares of our common stock. There can be no assurance that our
                                         common stock will be treated as regularly traded on an established securities market
                                         for this purpose.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Unless
an applicable tax treaty provides otherwise, gain described in the first bullet point above will be subject to tax at generally
applicable U.S. federal income tax rates as if the&nbsp;Non-U.S.&nbsp;holder were a U.S. resident. Any gains described in the
first bullet point above of a&nbsp;Non-U.S.&nbsp;holder that is a foreign corporation may also be subject to an additional &ldquo;branch
profits tax&rdquo; at a 30% rate (or lower treaty rate). Gain described in the second bullet point above will generally be subject
to a 30% U.S. federal income tax rate.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
the third bullet point above applies to a&nbsp;Non-U.S.&nbsp;holder, gain recognized by such holder on the sale, exchange or other
disposition of our common stock or warrants will be subject to tax at generally applicable U.S. federal income tax rates. In addition,
a buyer of our common stock or warrants from such holder may be required to withhold U.S. federal income tax at a rate of 15%
of the amount realized upon such disposition. We cannot determine whether we will be a United&nbsp;States real property holding
corporation in the future until we complete an initial business combination. We will be classified as a United&nbsp;States real
property holding corporation if the fair market value of our &ldquo;United&nbsp;States real property interests&rdquo; equals or
exceeds 50&nbsp;percent of the sum of the fair market value of our worldwide real property interests plus our other assets used
or held for use in a trade or business, as determined for U.S. federal income tax purposes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Redemption
of Common Stock.</I>&nbsp;The characterization for U.S. federal income tax purposes of the redemption of a&nbsp;Non-U.S.&nbsp;holder&rsquo;s
common stock pursuant to the redemption provisions described in the section of this prospectus entitled &ldquo;Description of
Securities&nbsp;&mdash; Common Stock&rdquo; generally will correspond to the U.S. federal income tax characterization of such
a redemption of a U.S. holder&rsquo;s common stock, as described under &ldquo;U.S. Holders&nbsp;&mdash; Redemption of Common Stock&rdquo;
above, and the consequences of the redemption to the&nbsp;Non-U.S.&nbsp;holder will be as described above under&nbsp;&ldquo;Non-U.S.&nbsp;Holders&nbsp;&mdash;
Taxation of Distributions&rdquo; and&nbsp;&ldquo;Non-U.S.&nbsp;holders&nbsp;&mdash; Gain on Sale, Taxable Exchange or Other Taxable
Disposition of Common Stock and Warrants,&rdquo; as applicable.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Possible
Constructive Distributions.&nbsp;</I>The terms of each warrant provide for an adjustment to the number of shares of common stock
for which the warrant may be exercised or to the exercise price of the warrant in certain events, as discussed in the section
of this prospectus entitled &ldquo;Description of Securities&nbsp;&mdash; Warrants&nbsp;&mdash; Public Stockholders&rsquo; Warrants.&rdquo;
An adjustment which has the effect of preventing dilution generally is not taxable.&nbsp;Non-U.S.&nbsp;holders of the warrants
would, however, be treated as receiving a constructive distribution from us if, for example, the adjustment to the number of such
shares or to such exercise price increases the warrantholders&rsquo; proportionate interest in our assets or earnings and profits
(e.g., through an increase in the number of shares of common stock that would be obtained upon exercise or through a decrease
in the exercise price of the warrant) as a result of a distribution of cash or other property, such as other securities, to the
holders of shares of our common stock, or as a result of the issuance of a stock dividend to holders of shares of our common stock,
in each case which is taxable to the holders of such shares as a distribution. A&nbsp;Non-U.S.&nbsp;holder would be subject to
tax on any such constructive distribution in the same manner as if the&nbsp;Non-U.S.&nbsp;holder received a cash distribution
from us equal to the fair market value of such increased interest.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Information
Reporting and Backup Withholding.</I>&nbsp;Information returns will be filed with the IRS in connection with payments of dividends
and the proceeds from a sale or other disposition of our units, shares of common stock and warrants. A&nbsp;Non-U.S.&nbsp;holder
may have to comply with certification procedures to establish that it is not a United&nbsp;States person in order to avoid information
reporting and backup withholding requirements. The certification procedures required to claim a reduced rate of withholding under
a tax treaty will generally satisfy the certification requirements necessary to avoid the backup withholding as well. Backup withholding
is not an additional tax. The amount of any backup withholding from a payment to a&nbsp;Non-U.S.&nbsp;holder will be allowed as
a credit against such holder&rsquo;s U.S. federal income tax liability and may entitle such holder to a refund, provided that
the required information is timely furnished to the IRS.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>FATCA
Withholding Taxes.&nbsp;</I>Sections&nbsp;1471 through 1474 of the Code and the Treasury Regulations and administrative guidance
promulgated thereunder (commonly referred as the &ldquo;Foreign Account Tax Compliance Act&rdquo; or &ldquo;FATCA&rdquo;) generally
impose withholding at a rate of 30% in certain circumstances on dividends (including constructive distributions) and certain other
payments paid to certain foreign financial institutions (including certain investment vehicles) and certain other&nbsp;non-U.S.&nbsp;entities
unless various U.S. information reporting and due diligence requirements (generally relating to ownership by U.S. persons of interests
in or accounts with those entities) have been satisfied, or an exemption applies. Such an exemption must typically be evidenced
by delivery of a properly executed IRS&nbsp;Form&nbsp;W-8BEN-E.&nbsp;An intergovernmental agreement between the United&nbsp;States
and the entity&rsquo;s jurisdiction may modify these requirements. If FATCA withholding is imposed, a&nbsp;Non-U.S.&nbsp;holder
that is not a foreign financial institution generally will be entitled to a refund of any amounts withheld by filing a U.S. federal
income tax return (which may entail significant administrative burden).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="a_016"></A>UNDERWRITING</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 24.5pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">I-Bankers&nbsp;is
acting as the representative of the underwriters named below. Subject to the terms and conditions of the underwriting agreement,
the underwriters named below have severally agreed to purchase from us on a firm commitment basis, and we have agreed to sell
to that underwriter, the respective number of units set forth opposite the underwriter&rsquo;s name, at a public offering price
less the underwriting discounts and commissions set forth on the cover page of this prospectus:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 24.5pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Underwriter</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Number
    of<BR> Units</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 88%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">I-Bankers&nbsp;Securities,
    Inc.</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 9%; text-align: right"></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">10,000,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
underwriting agreement provides that the obligations of the underwriters to purchase the units included in this offering are subject
to approval of legal matters by counsel and to other conditions. The underwriters are obligated to purchase all of the units (other
than those covered by the underwriters&rsquo; over-allotment option described below) if they purchase any of the units.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Units
sold by the underwriters to the public will initially be offered at the initial public offering price set forth on the cover of
this prospectus. After the initial public offering, the underwriters may change the offering price and the other selling terms.
The offering of the units by the underwriters is subject to receipt and acceptance and subject to the underwriters&rsquo; right
to reject any order in whole or in part. The underwriters do not intend to make sales to discretionary accounts.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
the underwriters sell more units than the total number set forth in the table above, we have granted to the underwriters an option,
exercisable for 30 &nbsp;days from the date of this prospectus, to purchase up to 1,500,000 additional units at the public offering
price less the underwriting discounts and commissions. The underwriters may exercise this option solely for the purpose of covering
over-allotments, if any, in connection with this offering. To the extent the option is exercised, each underwriter must purchase
a number of additional units approximately proportionate to that underwriter&rsquo;s initial purchase commitment. Any units issued
or sold under the option will be issued and sold on the same terms and conditions as the other units that are the subject of this
offering.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Prior
to this offering, there has been no public market for our securities. Consequently, the initial public offering price for the
units was determined by negotiations between us and the representative.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
determination of our per unit offering price was more arbitrary than would typically be the case if we were an operating company.
Among the factors considered in determining the initial public offering price were the history and prospects of companies whose
principal business is the acquisition of other companies, prior offerings of those companies, our management team, our capital
structure, and currently prevailing general conditions in equity securities markets, including current market valuations of publicly
traded companies considered comparable to our company. We cannot assure you, however, that the price at which the units, common
stock or warrants will sell in the public market after this offering will not be lower than the initial public offering price
or that an active trading market in our units, common stock or warrants will develop and continue after this offering.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
expect our units to be listed on Nasdaq under the symbol &ldquo;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U&rdquo;
and, once the common stock and warrants begin separate trading, to have our common stock and warrants listed on Nasdaq under the
symbols &ldquo;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo; and &ldquo;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;W,&rdquo;
respectively.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
following table shows the underwriting discounts and commissions that we are to pay to the underwriters in connection with this
offering. These amounts are shown assuming both no exercise and full exercise of the underwriters&rsquo; over-allotment option.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Paid
    by<BR> Bannix<BR> Acquisition Corp.</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">No
    Exercise</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Full
    Exercise</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Per
    Unit Underwriting Discounts and Commissions</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">0.20</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">0.20</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,000,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,300,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Business
Combination Marketing Agreement</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Under
a business combination marketing agreement, we will engage&nbsp;I-Bankers&nbsp;as advisors in connection with our business combination
to assist us in holding meetings with our stockholders to discuss the potential business combination and the target business&rsquo;s
attributes, introduce us to potential investors that are interested in purchasing our securities in connection with the potential
business combination, assist us in obtaining stockholder approval for the business combination and assist us with our press releases
and public filings in connection with the business combination. We will pay&nbsp;I-Bankers&nbsp;a cash fee for such marketing
services upon the consummation of our initial business combination in an amount equal to, in the aggregate, 2.75% of the gross
proceeds of this offering, including any proceeds from the full or partial exercise of the underwriters&rsquo; over-allotment
option.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Representative&rsquo;s
Shares</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
have agreed to issue to&nbsp;I-Bankers&nbsp; (and/or its designees) 250,000 shares of common stock (or up to 287,500 shares if
the underwriters&rsquo; over-allotment option is exercised in full) for nominal consideration upon the consummation
of this offering.&nbsp;I-Bankers&nbsp; (and/or its designees) has agreed not to transfer, assign or sell any such shares until
the completion of our initial business combination. In addition,&nbsp;I-Bankers&nbsp; (and/or its designees) has agreed (i)&nbsp;to
waive its redemption rights with respect to such shares in connection with the completion of our initial business combination
and (ii)&nbsp;to waive its rights to liquidating distributions from the trust account with respect to such shares if we fail to
complete our initial business combination within 18 months from the closing of this offering.</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
shares have been deemed compensation by FINRA and are therefore subject to a&nbsp;lock-up&nbsp;for a period of 180 days immediately
following the commencement of sales in this offering. Pursuant to FINRA Rule 5110(e)(1), these securities will not be the subject
of any hedging, short sale, derivative, put or call transaction that would result in the economic disposition of the securities
by any person for a period of 180 days immediately following the commencement of sales in this offering, nor may they be sold,
transferred, assigned, pledged or hypothecated for a period of 180 days immediately following the commencement of sales in this
offering, except to any underwriter and selected dealer participating in the offering and their bona fide officers or partners.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Founder Shares</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">We have agreed to issue to&nbsp;I-Bankers&nbsp;
(and/or its designees) 245,000 shares of common stock upon the consummation of this offering.&nbsp;I-Bankers&nbsp; (and/or its
designees) has agreed not to transfer, assign or sell any such shares until the completion of our initial business combination.
In addition,&nbsp;I-Bankers&nbsp; (and/or its designees) has agreed (i)&nbsp;to waive its redemption rights with respect to such
shares in connection with the completion of our initial business combination and (ii)&nbsp;to waive its rights to liquidating
distributions from the trust account with respect to such shares if we fail to complete our initial business combination within
18 months from the closing of this offering.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The shares have been deemed compensation by FINRA and are therefore subject to a&nbsp;lock-up&nbsp;for
a period of 180 days immediately following the commencement of sales in this offering. Pursuant to FINRA Rule 5110(e)(1), these
securities will not be the subject of any hedging, short sale, derivative, put or call transaction that would result in the economic
disposition of the securities by any person for a period of 180 days immediately following the commencement of sales in this offering,
nor may they be sold, transferred, assigned, pledged or hypothecated for a period of 180 days immediately following the commencement
of sales in this offering, except to any underwriter and selected dealer participating in the offering and their bona fide officers
or partners.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Representative&rsquo;s
Warrants</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
have agreed to grant to I-Bankers Securities, Inc. (and/or its designees) 300,000 warrants (or 345,000 warrants if the underwriters&rsquo;
over-allotment option is exercised in full) exercisable at $12.00 per share (or an aggregate exercise price of $3,600,000 or $4,140,000
if the underwriters&rsquo; over-allotment option is exercised in full) upon the closing of this offering. The warrant may be exercised
for cash or on a cashless basis, at the holder&rsquo;s option, at any time during the period commencing on the later of the first
anniversary of the effective date of the registration statement of which this prospectus forms a part and the closing of our initial
business combination and terminating on the fifth anniversary of such effectiveness date. Notwithstanding anything to the contrary,
I-Bankers Securities, Inc. has agreed that neither it nor its designees will be permitted to exercise the warrants after the five
year anniversary of the effective date of the registration statement of which this prospectus forms a part. The warrants and such
shares purchased pursuant to the warrants have been deemed compensation by FINRA and are therefore subject to a lock-up for a
period of 180 days immediately following the date of the effectiveness of the registration statement of which this prospectus
forms a part pursuant to FINRA Rule 5110(e)(1). Pursuant to FINRA Rule 5110(e)(1), these securities will not be the subject of
any hedging, short sale, derivative, put or call transaction that would result in the economic disposition of the securities by
any person for a period of 180 days immediately following the effective date of the registration statement of which this prospectus
forms a part, nor may they be sold, transferred, assigned, pledged or hypothecated for a period of 180 days immediately following
the effective date of the registration statement of which this prospectus forms a part except to any underwriter and selected
dealer participating in the offering and their bona fide officers or partners. The warrants grant to holders demand and &ldquo;piggy
back&rdquo; rights for periods of five and seven years, respectively, from the effective date of the registration statement of
which this prospectus forms a part with respect to the registration under the Securities Act of the shares issuable upon exercise
of the warrants. We will bear all fees and expenses attendant to registering the securities, other than underwriting commissions,
which will be paid for by the holders themselves. The exercise price and number of shares issuable upon exercise of the warrants
may be adjusted in certain circumstances including in the event of a share dividend, or our recapitalization, reorganization,
merger or consolidation. However, the warrants will not be adjusted for issuances of shares at a price below its exercise price.
We will have no obligation to net cash settle the exercise of the warrants. The holder of the warrants will not be entitled to
exercise the warrants for cash unless a registration statement covering the securities underlying the warrants is effective or
an exemption from registration is available.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
connection with the offering, the underwriters may purchase and sell units in the open market. Purchases and sales in the open
market may include short sales, purchases to cover short positions, which may include purchases pursuant to the underwriters&rsquo;
over-allotment option, and stabilizing purchases.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Short
                                         sales involve secondary market sales by the underwriters of a greater number of units
                                         than they are required to purchase in the offering.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;Covered&rdquo;
                                         short sales are sales of units in an amount up to the number of units represented by
                                         the underwriters&rsquo; over-allotment option.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;Naked&rdquo;
                                         short sales are sales of units in an amount in excess of the number of units represented
                                         by the underwriters&rsquo; over-allotment option.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Covering
                                         transactions involve purchases of units either pursuant to the underwriters&rsquo; over-allotment
                                         option or in the open market after the distribution has been completed in order to cover
                                         short positions.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">To
                                         close a naked short position, the underwriters must purchase shares in the open market
                                         after the distribution has been completed. A naked short position is more likely to be
                                         created if the underwriters are concerned that there may be downward pressure on the
                                         price of the units in the open market after pricing that could adversely affect investors
                                         who purchase in the offering.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">To
                                         close a covered short position, the underwriters must purchase units in the open market
                                         after the distribution has been completed or must exercise the underwriters&rsquo; over-allotment
                                         option. In determining the source of shares to close the covered short position, the
                                         underwriters will consider, among other things, the price of units available for purchase
                                         in the open market as compared to the price at which they may purchase units through
                                         the underwriters&rsquo; over-allotment option.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Stabilizing
                                         transactions involve bids to purchase units so long as the stabilizing bids do not exceed
                                         a specified maximum.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Purchases
to cover short positions and stabilizing purchases, as well as other purchases by the underwriters for their own accounts, may
have the effect of preventing or retarding a decline in the market price of the units. They may also cause the price of the units
to be higher than the price that would otherwise exist in the open market in the absence of these transactions. The underwriters
may conduct these transactions in the&nbsp;over-the-counter&nbsp;market or otherwise. If the underwriters commence any of these
transactions, they may discontinue them at any time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
estimate that our portion of the total expenses of this offering payable by us will be $___________, excluding underwriting discounts
and commissions. We have agreed to pay certain expenses of the underwriter, including respective road show expenses and legal
costs and expenses reasonably incurred by the underwriter in an amount not to exceed $150,000.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
have agreed to indemnify the underwriters against certain liabilities, including liabilities under the Securities Act, or to contribute
to payments the underwriters may be required to make because of any of those liabilities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
underwriters and their respective affiliates are full-service financial institutions engaged in various activities, which may
include securities trading, commercial and investment banking, financial advisory, investment management, investment research,
principal investment, hedging, financing and brokerage activities. Some of the underwriters and their affiliates may in the future
engage in investment banking and other commercial dealings in the ordinary course of business with us or our affiliates, including
in connection with acting in an advisory capacity or as a potential financing source in conjunction with our potential acquisition
of a company. They may in the future receive customary fees and commissions for these transactions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
addition, in the ordinary course of their business activities, the underwriters and their affiliates may make or hold a broad
array of investments and actively trade debt and equity securities (or related derivative securities) and financial instruments
(including bank loans) for their own account and for the accounts of their customers. Such investments and securities activities
may involve securities and/or instruments of ours or our affiliates. The underwriters and their affiliates may also make investment
recommendations and/or publish or express independent research views in respect of such securities or financial instruments and
may hold, or recommend to clients that they acquire, long and/or short positions in such securities and instruments.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">With
the exception of the business combination marketing agreement described above, we are not under any contractual obligation to
engage any of the underwriters to provide any services for us after this offering, and have no present intent to do so. However,
any of the underwriters may introduce us to potential target businesses or assist us in raising additional capital in the future.
If any of the underwriters provide services to us after this offering, we may pay such underwriter fair and reasonable fees that
would be determined at that time in an arm&rsquo;s length negotiation; provided that no agreement will be entered into with any
of the underwriters and no fees for such services will be paid to any of the underwriters prior to the date that is 60&nbsp;days
from the date of this prospectus, unless FINRA determines that such payment would not be deemed underwriters&rsquo; compensation
in connection with this offering and we may pay the underwriters of this offering or any entity with which they are affiliated
a finder&rsquo;s fee or other compensation for services rendered to us in connection with the completion of a business combination.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Sales
Outside the United&nbsp;States</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">No
action has been taken in any jurisdiction (except in the United&nbsp;States) that would permit a public offering of the units,
or the possession, circulation or distribution of this prospectus or any other material relating to us or the units in any jurisdiction
where action for that purpose is required. Accordingly, the units may not be offered or sold, directly or indirectly, and none
of this prospectus or any other offering material or advertisements in connection with the units may be distributed or published,
in or from any country or jurisdiction except in compliance with any applicable rules and regulations of any such country or jurisdiction.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Each
of the underwriters may arrange to sell the units offered hereby in certain jurisdictions outside the United&nbsp;States, either
directly or through affiliates, where they are permitted to do so.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Notice
to Prospective Investors in Australia</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">No
placement document, prospectus, product disclosure statement or other disclosure document has been lodged with the Australian
Securities and Investments Commission (&ldquo;ASIC&rdquo;), in relation to the offering. This prospectus does not constitute a
prospectus, product disclosure statement or other disclosure document under the Corporations Act 2001 (the &ldquo;Corporations
Act&rdquo;), and does not purport to include the information required for a prospectus, product disclosure statement or other
disclosure document under the Corporations Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Any
offer in Australia of the shares may only be made to persons (the &ldquo;Exempt Investors&rdquo;) who are &ldquo;sophisticated
investors&rdquo; (within the meaning of section 708(8) of the Corporations Act), &ldquo;professional investors&rdquo; (within
the meaning of section 708(11) of the Corporations Act) or otherwise pursuant to one or more exemptions contained in section 708
of the Corporations Act so that it is lawful to offer the shares without disclosure to investors under Chapter 6D of the Corporations
Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
shares applied for by Exempt Investors in Australia must not be offered for sale in Australia in the period of 12 months after
the date of allotment under the offering, except in circumstances where disclosure to investors under Chapter 6D of the Corporations
Act would not be required pursuant to an exemption under section 708 of the Corporations Act or otherwise or where the offer is
pursuant to a disclosure document which complies with Chapter&nbsp;6D of the Corporations Act. Any person acquiring shares must
observe such Australian&nbsp;on-sale&nbsp;restrictions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">This
prospectus contains general information only and does not take account of the investment objectives, financial situation or particular
needs of any particular person. It does not contain any securities recommendations or financial product advice. Before making
an investment decision, investors need to consider whether the information in this prospectus is appropriate to their needs, objectives
and circumstances, and, if necessary, seek expert advice on those matters.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Notice
to Prospective Investors in the Dubai International Financial Centre</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">This
prospectus relates to an Exempt Offer in accordance with the Offered Securities Rules of the Dubai Financial Services Authority
(&ldquo;DFSA&rdquo;).This prospectus is intended for distribution only to persons of a type specified in the Offered Securities
Rules of the DFSA. It must not be delivered to, or relied on by, any other person. The DFSA has no responsibility for reviewing
or verifying any documents in connection with Exempt Offers. The DFSA has not approved this prospectus nor taken steps to verify
the information set forth herein and has no responsibility for the prospectus. The shares to which this prospectus relates may
be illiquid and/or subject to restrictions on their resale. Prospective purchasers of the shares offered should conduct their
own due diligence on the shares. If you do not understand the contents of this prospectus you should consult an authorized financial
advisor.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Notice
to Prospective Investors in the European Economic Area</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
units are not intended to be offered or sold to and should not be offered or sold to any retail investor in the European Economic
Area (the &ldquo;EEA&rdquo;). For these purposes, a retail investor means a person who is one (or more) of: (i)&nbsp;a retail
client as defined in point (11)&nbsp;of Article 4(1) of Directive 2014/65/EU, as amended (&ldquo;MiFID II&rdquo;); or (ii)&nbsp;a
customer within the meaning of Directive 2002/92/EC, as amended (the &ldquo;Insurance Mediation Directive&rdquo;), where that
customer would not qualify as a professional client as defined in point (10)&nbsp;of Article 4(1) of MiFID II; or (iii)&nbsp;not
a qualified investor as defined in the Directive 2003/71/EC (as amended, the &ldquo;Prospectus Directive&rdquo;). No key information
document required by Regulation (EU) No 1286/2014, as amended (the &ldquo;PRIIPs Regulation&rdquo;) for offering or selling the
units or otherwise making them available to retail investors in the EEA has been prepared. Offering or selling the units or otherwise
making them available to any retail investor in the EEA may be unlawful under the PRIIPS Regulation. This prospectus has been
prepared on the basis that any offer of the units in any member state of the EEA will be made pursuant to an exemption under the
Prospectus Directive from a requirement to publish a prospectus for offers of units. This prospectus is not a prospectus for the
purpose of the Prospectus Directive.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Notice
to Prospective Investors in Switzerland</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
shares may not be publicly offered in Switzerland and will not be listed on the SIX Swiss Exchange (&ldquo;SIX&rdquo;) or on any
other stock exchange or regulated trading facility in Switzerland. This document has been prepared without regard to the disclosure
standards for issuance prospectuses under art. 652a or art. 1156 of the Swiss Code of Obligations or the disclosure standards
for listing prospectuses under art. 27 ff. of the SIX Listing Rules or the listing rules of any other stock exchange or regulated
trading facility in Switzerland. Neither this document nor any other offering or marketing material relating to the shares or
the offering may be publicly distributed or otherwise made publicly available in Switzerland.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Neither
this document nor any other offering or marketing material relating to the offering, the Company, the shares have been or will
be filed with or approved by any Swiss regulatory authority. In particular, this document will not be filed with, and the offer
of shares will not be supervised by, the Swiss Financial Market Supervisory Authority FINMA (FINMA), and the offer of shares has
not been and will not be authorized under the Swiss Federal Act on Collective Investment Schemes (&ldquo;CISA&rdquo;).The investor
protection afforded to acquirers of interests in collective investment schemes under the CISA does not extend to acquirers of
shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Notice
to Prospective Investors in the United&nbsp;Kingdom</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">This
prospectus is only being distributed to, and is only directed at, persons in the United&nbsp;Kingdom that are qualified investors
within the meaning of Article 2(1)(e) of the Prospectus Directive that are also (i)&nbsp;investment professionals falling within
Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order&nbsp;2005 (the &ldquo;Order&rdquo;) or
(ii)&nbsp;high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a)
to (d)&nbsp;of the Order (all such persons together being referred to as a &ldquo;relevant person&rdquo;).The units are only available
to, and any invitation, offer or agreement to purchase or otherwise acquire such units will be engaged in only with, relevant
persons. This prospectus and its contents are confidential and should not be distributed, published or reproduced (in whole or
in part) or disclosed by recipients to any other persons in the United&nbsp;Kingdom. Any person in the United&nbsp;Kingdom that
is not a relevant person should not act or rely on this document or any of its contents.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Notice
to Prospective Investors in France</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Neither
this prospectus nor any other offering material relating to the units described in this prospectus has been submitted to the clearance
procedures of the Autorit&eacute; des March&eacute;s Financiers or by the competent authority of another member state of the European
Economic Area and notified to the Autorit&eacute; des March&eacute;s Financiers. The units have not been offered or sold and will
not be offered or sold, directly or indirectly, to the public in France. Neither this prospectus nor any other offering material
relating to the units has been or will be:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">released,
                                         issued, distributed or caused to be released, issued or distributed to the public in
                                         France; or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">used
                                         in connection with any offer for subscription or sale of the units to the public in France.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Such
offers, sales and distributions will be made in France only:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">to
                                         qualified investors (investisseurs qualifi&eacute;s) and/or to a restricted circle of
                                         investors (cercle restreint d&rsquo;investisseurs), in each case investing for their
                                         own account, all as defined in, and in accordance with, Articles&nbsp;L.411-2,&nbsp;D.411-1,&nbsp;D.411-2,&nbsp;D.734-1,&nbsp;D.744-1,&nbsp;D.754-1&nbsp;and&nbsp;D.764-1&nbsp;of
                                         the French Code mon&eacute;taire et financier;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">to
                                         investment services providers authorized to engage in portfolio management on behalf
                                         of third parties; or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">in
                                         a transaction that, in accordance with Articles&nbsp;L.411-2-II-1b&nbsp;or 2b or 31b
                                         of the French Code mon&eacute;taire et financier and article&nbsp;211-2&nbsp;of the General
                                         Regulations (R&egrave;glement G&eacute;n&eacute;ral) of the Autorit&eacute; des March&eacute;s
                                         Financiers, does not constitute a public offer (appel public &agrave; l&rsquo;&eacute;pargne).</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
units may be resold directly or indirectly, only in compliance with Articles&nbsp;L.411-1,&nbsp;L.411-2,&nbsp;L.412-1&nbsp;and&nbsp;L.621-8&nbsp;through&nbsp;L.621-8-3&nbsp;of
the French Code monetaire et financier.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Notice
to Prospective Investors in Hong&nbsp;Kong</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
units may not be offered or sold in Hong&nbsp;Kong by means of any document other than (i)&nbsp;in circumstances which do not
constitute an offer to the public within the meaning of the Companies Ordinance (Cap. 32, Laws of Hong&nbsp;Kong), or (ii)&nbsp;to
&ldquo;professional investors&rdquo; within the meaning of the Securities and Futures Ordinance (Cap. 571, Laws of Hong&nbsp;Kong)
and any rules made thereunder, or (iii)&nbsp;in other circumstances which do not result in the document being a &ldquo;prospectus&rdquo;
within the meaning of the Companies Ordinance (Cap. 32, Laws of Hong&nbsp;Kong) and no advertisement, invitation or document relating
to the units may be issued or may be in the possession of any person for the purpose of issue (in each case whether in Hong&nbsp;Kong
or elsewhere), which is directed at, or the contents of which are likely to be accessed or read by, the public in Hong&nbsp;Kong
(except if permitted to do so under the laws of Hong&nbsp;Kong) other than with respect to units which are or are intended to
be disposed of only to persons outside Hong&nbsp;Kong or only to &ldquo;professional investors&rdquo; within the meaning of the
Securities and Futures Ordinance (Cap. 571, Laws of Hong&nbsp;Kong) and any rules made thereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Notice
to Prospective Investors in Japan</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
units have not been and will not be registered under the Financial Instruments and Exchange Law of Japan (Law No.&nbsp;25 of 1948,
as amended) and, accordingly, will not be offered or sold, directly or indirectly, in Japan, or for the benefit of any Japanese
Person or to others for&nbsp;re-offering&nbsp;or resale, directly or indirectly, in Japan or to any Japanese Person, except in
compliance with all applicable laws, regulations and ministerial guidelines promulgated by relevant Japanese governmental or regulatory
authorities in effect at the relevant time. For the purposes of this paragraph, &ldquo;Japanese Person&rdquo; shall mean any person
resident in Japan, including any corporation or other entity organized under the laws of Japan.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Notice
to Prospective Investors in Singapore</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">This
prospectus has not been registered as a prospectus with the Monetary Authority of Singapore. Accordingly, this prospectus and
any other document or material in connection with the offer or sale, or invitation for subscription or purchase, of the units
may not be circulated or distributed, nor may the units be offered or sold, or be made the subject of an invitation for subscription
or purchase, whether directly or indirectly, to persons in Singapore other than (i)&nbsp;to an institutional investor under Section&nbsp;274
of the Securities and Futures Act, Chapter&nbsp;289 of Singapore (the &ldquo;SFA&rdquo;), (ii)&nbsp;to a relevant person pursuant
to Section&nbsp;275(1), or any person pursuant to Section&nbsp;275(1A), and in accordance with the conditions specified in Section&nbsp;275
of the SFA or (iii)&nbsp;otherwise pursuant to, and in accordance with the conditions of, any other applicable provision of the
SFA, in each case subject to compliance with conditions set forth in the SFA.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Where
the units are subscribed or purchased under Section&nbsp;275 of the SFA by a relevant person which is:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">shares,
                                         debentures and units of shares and debentures of that corporation or the beneficiaries&rsquo;
                                         rights and interest (howsoever described) in that trust shall not be transferred within
                                         six months after that corporation or that trust has acquired the shares pursuant to an
                                         offer made under Section&nbsp;275 of the SFA except:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">to
                                         an institutional investor (for corporations, under Section&nbsp;274 of the SFA) or to
                                         a relevant person defined in Section&nbsp;275(2) of the SFA, or to any person pursuant
                                         to an offer that is made on terms that such shares, debentures and units of shares and
                                         debentures of that corporation or such rights and interest in that trust are acquired
                                         at a consideration of not less than $200,000 (or its equivalent in a foreign currency)
                                         for each transaction, whether such amount is to be paid for in cash or by exchange of
                                         securities or other assets, and further for corporations, in accordance with the conditions
                                         specified in Section&nbsp;275 of the SFA;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">where
                                         no consideration is or will be given for the transfer; or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">where
                                         the transfer is by operation of law.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Notice
to Canadian Residents</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Resale
Restrictions</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
distribution of units in Canada is being made only in the provinces of Ontario, Quebec, Alberta and British Columbia on a private
placement basis exempt from the requirement that we prepare and file a prospectus with the securities regulatory authorities in
each province where trades of these securities are made. Any resale of the units in Canada must be made under applicable securities
laws which may vary depending on the relevant jurisdiction, and which may require resales to be made under available statutory
exemptions or under a discretionary exemption granted by the applicable Canadian securities regulatory authority. Purchasers are
advised to seek legal advice prior to any resale of the securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Representations
of Canadian Purchasers</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">By
purchasing units in Canada and accepting delivery of a purchase confirmation, a purchaser is representing to us and the dealer
from whom the purchase confirmation is received that:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                         purchaser is entitled under applicable provincial securities laws to purchase the units
                                         without the benefit of a prospectus qualified under those securities laws as it is an
                                         &ldquo;accredited investor&rdquo; as defined under National Instrument&nbsp;45-106&nbsp;&mdash;&nbsp;Prospectus
                                         Exemptions,</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                         purchaser is a &ldquo;permitted client&rdquo; as defined in National Instrument&nbsp;31-103&nbsp;&mdash;&nbsp;Registration
                                         Requirements, Exemptions and Ongoing Registrant Obligations,</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">where
                                         required by law, the purchaser is purchasing as principal and not as agent, and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></TD><TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">the
                                         purchaser has reviewed the text above under Resale Restrictions.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Conflicts
of Interest</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Canadian
purchasers are hereby notified that the underwriters are relying on the exemption set out in section&nbsp;3A.3 or 3A.4, if applicable,
of National Instrument&nbsp;33-105&nbsp;&mdash;&nbsp;Underwriting Conflicts from having to provide certain conflict of interest
disclosure in this document.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Statutory
Rights of Action</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Securities
legislation in certain provinces or territories of Canada may provide a purchaser with remedies for rescission or damages if the
prospectus (including any amendment thereto) such as this document contains a misrepresentation, provided that the remedies for
rescission or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser&rsquo;s
province or territory. The purchaser of these securities in Canada should refer to any applicable provisions of the securities
legislation of the purchaser&rsquo;s province or territory for particulars of these rights or consult with a legal advisor.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Enforcement
of Legal Rights</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">All
of our directors and officers as well as the experts named herein may be located outside of Canada and, as a result, it may not
be possible for Canadian purchasers to effect service of process within Canada upon us or those persons. All or a substantial
portion of our assets and the assets of those persons may be located outside of Canada and, as a result, it may not be possible
to satisfy a judgment against us or those persons in Canada or to enforce a judgment obtained in Canadian courts against us or
those persons outside of Canada.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Taxation
and Eligibility for Investment</FONT></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Canadian
purchasers of units should consult their own legal and tax advisors with respect to the tax consequences of an investment in the
units in their particular circumstances and about the eligibility of the units for investment by the purchaser under relevant
Canadian legislation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="a_017"></A>LEGAL
MATTERS</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Loeb
&amp; Loeb LLP, New York, New York, has passed upon the validity of the securities offered hereby on behalf of us. Certain legal
matters will be passed upon on behalf of the underwriters by Shearman &amp; Sterling LLP Houston, Texas.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="a_018"></A>EXPERTS</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
financial statements of Bannix Acquisition Corp. as of February 9, 2021 and for the period January 21, 2021 (inception) through
February 9, 2021, appearing in this prospectus have been audited by Rotenberg Meril Solomon Bertiger &amp; Guttilla, P.C., independent
registered public accounting firm, as set forth in their report thereon (which contains an explanatory paragraph relating to substantial
doubt about the ability of Bannix Acquisition Corp. to continue as a going concern, as described in Note 1 to the financial statements),
appearing elsewhere in this prospectus, and are included in reliance upon such report given on the authority of such firm as experts
in accounting and auditing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="a_019"></A>WHERE
YOU CAN FIND ADDITIONAL INFORMATION</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
have filed with the SEC a registration statement on&nbsp;Form&nbsp;S-1&nbsp;under the Securities Act with respect to the securities
we are offering by this prospectus. This prospectus does not contain all of the information included in the registration statement.
For further information about us and our securities, you should refer to the registration statement and the exhibits and schedules
filed with the registration statement. Whenever we make reference in this prospectus to any of our contracts, agreements or other
documents, the references are materially complete but may not include a description of all aspects of such contracts, agreements
or other documents, and you should refer to the exhibits attached to the registration statement for copies of the actual contract,
agreement or other document.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Upon
completion of this offering, we will be subject to the information requirements of the Exchange Act and will file annual, quarterly
and current event reports, proxy statements and other information with the SEC. You can read our SEC filings, including the registration
statement, over the Internet at the SEC&rsquo;s website at&nbsp;<I>www.sec.gov</I>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="a_020"></A>BANNIX
ACQUISITION CORP.<BR>
INDEX TO FINANCIAL STATEMENTS</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0pt 0pt 1.5pt 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Page</B></FONT></TD>
    </TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-left: 10pt; text-indent: -10pt; padding-right: 0pt; width: 91%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#fin_001">Report
    of Independent Registered Public Accounting Firm</A></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; white-space: nowrap; text-align: center; padding-right: 0pt; padding-left: 0pt; width: 9%"><FONT STYLE="font-family: Times New Roman, Times, Serif">F-2</FONT></TD>
    </TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-left: 10pt; text-indent: -10pt; padding-right: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Financial
    Statements:</FONT></TD>
    <TD STYLE="text-align: center; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    </TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-left: 10pt; text-indent: -10pt; padding-right: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#fin_002">Balance
    Sheet as of February 9, 2021</A></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; white-space: nowrap; text-align: center; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">F-3</FONT></TD>
    </TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-left: 10pt; text-indent: -10pt; padding-right: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#fin_003">Statement
    of Operations for the period from January 21, 2021 (inception) through February 9, 2021</A></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; white-space: nowrap; text-align: center; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">F-4</FONT></TD>
    </TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#fin_004">Statement
    of Changes in Stockholders&rsquo; Equity for the period from January 21, 2021 (inception) through February 9, 2021</A></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; white-space: nowrap; text-align: center; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">F-5</FONT></TD>
    </TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-left: 10pt; text-indent: -10pt; padding-right: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#fin_005">Statement
    of Cash Flows for the period from January 21, 2021 (inception) through February 9, 2021</A></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; white-space: nowrap; text-align: center; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">F-6</FONT></TD>
    </TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-left: 10pt; text-indent: -10pt; padding-right: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#fin_006">Notes
    to Financial Statements</A></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; white-space: nowrap; text-align: center; padding-right: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">F-7</FONT></TD>
    </TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #404040"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #345A8A"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt"><B><A NAME="fin_001"></A>Independent
Auditors&rsquo; Report</B></FONT></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #345A8A"></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #345A8A"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #404040"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center"><B>REPORT OF INDEPENDENT REGISTERED
PUBLIC ACCOUNTING FIRM</B></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">To the Stockholders and the Board of Directors of</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">Bannix Acquisition Corp.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><B>Opinion on the Financial Statements</B></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">We have audited the accompanying
balance sheet of Bannix Acquisition Corp. (the &quot;Company&quot;) as of February 9, 2021, and the related statements of operations,
stockholders&rsquo; equity, and cash flows for the period January 21, 2021 (Date of Inception) through February 9, 2021,
and the related notes (collectively referred to as the &quot;financial statements&quot;). In our opinion, the financial statements
present fairly, in all material respects, the financial position of the Company as of February 9, 2021 and the results of its
operations and its cash flows for the period from January&nbsp;21, 2021 (Date of Inception) through February 9, 2021, in conformity
with accounting principles generally accepted in the United States of America.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B>Explanatory Paragraph -- Going
Concern</B></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">The accompanying financial statements
have been prepared assuming that the Company will continue as a going concern. As discussed in Note 1 to the financial statements,
the Company's ability to execute its business plan is dependent upon its completion of the proposed initial public offering described
in Note 3 to the financial statements. The Company had a working capital deficit as of February 9, 2021 and lacks the financial
resources it needs to sustain operations for a reasonable period of time, which is considered to be one year from the issuance
date of the financial statements. These conditions raise substantial doubt about the Company's ability to continue as a going concern.
Management's plans with regard to these matters are also described in Notes 1 and 3. The financial statements do not include any
adjustments that might become necessary should the Company be unable to continue as a going concern.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"><B>Basis for Opinion</B></P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">These financial statements are the
responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based
on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (&quot;PCAOB&quot;)
and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable
rules and regulations of the Securities and Exchange Commission and the PCAOB.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">We conducted our audit in accordance
with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required
to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit we are
required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion
on the effectiveness of the entity's internal control over financial reporting. Accordingly, we express no such opinion.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">Our audit included performing procedures
to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures
that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures
in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made
by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides
a reasonable basis for our opinion.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">/s/ Rotenberg Meril Solomon Bertiger &amp; Guttilla,
P.C.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">Rotenberg Meril Solomon Bertiger &amp; Guttilla, P.C.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">We have served as the Company's auditor since 2021.</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">Saddle Brook, New Jersey</P>

<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0">February 15, 2021</P>
<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #404040"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #404040"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #404040"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #404040"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #345A8A"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt"><B><A NAME="fin_002"></A>Balance
Sheet</B></FONT></P>

<DIV STYLE="border-bottom: black 1pt solid; padding: 0in"><P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #A6A6A6"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
                                         of February 09, 2021</FONT></P>

</DIV>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #404040"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Cambria, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #486C8F"><FONT STYLE="font-family: Times New Roman, Times, Serif">ASSETS</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 88%; text-indent: 0pt; padding-left: 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Cash</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">19,665</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Deferred
    offering costs associated with proposed public offering</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">44,243</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1.5pt; text-indent: 0pt; padding-left: 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Share
    subscription receivable</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">12,000</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: #404040; font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: 0pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">TOTAL
    ASSETS</FONT></TD><TD STYLE="color: #404040; font-weight: bold; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; color: #404040; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; color: #404040; font-weight: bold; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">75,908</FONT></TD><TD STYLE="padding-bottom: 4pt; color: #404040; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: #404040; font-weight: bold; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="color: #404040; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="color: #404040; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="color: #404040; font-weight: bold; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="color: #404040; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: #486C8F; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">LIABILITIES
    AND STOCKHOLDERS&rsquo; EQUITY</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: black; font-weight: bold; text-indent: 0pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Liabilities</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; font-weight: bold; text-align: left; text-indent: 0pt; padding-left: 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Current
    Liabilities</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: black; text-align: left; text-indent: 0pt; padding-left: 30pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Accounts
    payable (related party of $35)</FONT></TD><TD STYLE="color: black"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="color: black; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="color: black; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">19,278</FONT></TD><TD STYLE="color: black; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left; padding-bottom: 1.5pt; text-indent: 0pt; padding-left: 30pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Loans
    payable &ndash; related parties</FONT></TD><TD STYLE="color: black; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; color: black; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; color: black; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">27,963</FONT></TD><TD STYLE="padding-bottom: 1.5pt; color: black; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: black; font-weight: bold; text-align: left; text-indent: 0pt; padding-left: 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total&nbsp;Current
    Liabilities</FONT></TD><TD STYLE="color: black; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="color: black; font-weight: bold; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">47,241</FONT></TD><TD STYLE="color: black; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; font-weight: bold; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="color: black; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="color: black; font-weight: bold; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="color: black; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: 0pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Commitments</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Stockholders&rsquo;
    Equity</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: #404040; text-align: left; text-indent: -10pt; padding-left: 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #404040">Common
    stock, par value $0.01; authorized 10,000,000 shares; issued and outstanding 2,875,000 shares<SUP>(1)</SUP></FONT></TD><TD STYLE="color: #404040"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="color: #404040; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="color: #404040; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">28,750</FONT></TD><TD STYLE="color: #404040; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: #404040; text-align: left; padding-bottom: 1.5pt; text-indent: 0pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Accumulated
    deficit</FONT></TD><TD STYLE="color: #404040; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; color: #404040; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; color: #404040; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(83</FONT></TD><TD STYLE="padding-bottom: 1.5pt; color: #404040; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: #404040; font-weight: bold; text-align: left; padding-bottom: 1.5pt; text-indent: 0pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
    Stockholders&rsquo; Equity</FONT></TD><TD STYLE="color: #404040; font-weight: bold; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; color: #404040; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; color: #404040; font-weight: bold; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">28,667</FONT></TD><TD STYLE="padding-bottom: 1.5pt; color: #404040; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: #404040; font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">TOTAL
    LIABILITIES AND STOCKHOLDERS&rsquo; EQUITY</FONT></TD><TD STYLE="color: #404040; font-weight: bold; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; color: #404040; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; color: #404040; font-weight: bold; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">75,908</FONT></TD><TD STYLE="padding-bottom: 4pt; color: #404040; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>



<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #404040"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&nbsp;&nbsp;</I></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #404040">(1)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black">At February 09, 2021, includes
    up to 375,000 ordinary shares subject to forfeiture if the over-allotment&nbsp;option is not exercised in full or in part
    by the underwriters. (See Note 6).</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #404040"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #404040"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
accompanying notes are an integral part to these financial statements.<BR STYLE="clear: both"></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #404040"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;<B>&nbsp;</B></FONT></P>

<!-- Field: Page; Sequence: 138; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font-size: 10pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #345A8A"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt"><B><A NAME="fin_003"></A>Statement
of Operations</B></FONT></P>

<P STYLE="border-bottom: black 1pt solid; font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #A6A6A6"><FONT STYLE="font-family: Times New Roman, Times, Serif">For
the period from January 21, 2021 (inception) to February 09, 2021</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Cambria, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #486C8F"><FONT STYLE="font-family: Times New Roman, Times, Serif">EXPENSES</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 88%; color: black; text-align: left; padding-bottom: 1.5pt; text-indent: 0pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">General
    and administrative expenses</FONT></TD><TD STYLE="width: 1%; color: black; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; color: black; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; color: black; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">83</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; color: black; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: #486C8F; text-align: left; padding-bottom: 4pt; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">NET
    LOSS</FONT></TD><TD STYLE="color: black; font-weight: bold; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; color: black; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; color: black; font-weight: bold; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(83</FONT></TD><TD STYLE="padding-bottom: 4pt; color: black; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Weighted
    average shares outstanding, basic and diluted<SUP>(1)</SUP>&#9;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,043,815</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Basic
    and diluted net loss per common share</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(0.00</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #404040"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&nbsp;&nbsp;</I></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">At February 09, 2021, includes up to 375,000
    ordinary shares subject to forfeiture if the over-allotment&nbsp;option is not exercised in full or in part by the underwriters.
    (See Note 6)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #404040"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #404040"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
accompanying notes are an integral part to these financial statements.<BR STYLE="clear: both"></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #404040"></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font-size: 10pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #404040"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #345A8A"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt"><B><A NAME="fin_004"></A>Statement
of Changes in Stockholders&rsquo; Equity</B></FONT></P>

<DIV STYLE="border-bottom: black 1pt solid; padding: 0in"><P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #A6A6A6"><FONT STYLE="font-family: Times New Roman, Times, Serif">For
                                         the period from January 21, 2021 (inception) to February 09, 2021</FONT></P>

</DIV>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Cambria, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="color: #404040; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="color: #404040; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Common
    Stock</FONT></TD><TD STYLE="padding-bottom: 1.5pt; color: #404040"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="color: #404040; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #404040; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Accumulated
    Deficit</FONT></TD><TD STYLE="padding-bottom: 1.5pt; color: #404040"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="color: #404040; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #404040; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Stockholders&rsquo;
    Equity</FONT></TD><TD STYLE="padding-bottom: 1.5pt; color: #404040"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="color: #404040; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #404040; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Shares</FONT></TD><TD STYLE="padding-bottom: 1.5pt; color: #404040"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="color: #404040; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #404040; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Amount</FONT></TD><TD STYLE="padding-bottom: 1.5pt; color: #404040"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: #404040; font-weight: bold; padding-left: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Balance
    - January 21, 2021 (inception)</FONT></TD><TD STYLE="color: #404040; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="color: #404040; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="color: #404040; font-weight: bold; text-align: right">&mdash;</TD><TD STYLE="color: #404040; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="color: #404040; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="color: #404040; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="color: #404040; font-weight: bold; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&mdash;</FONT></TD><TD STYLE="color: #404040; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="color: #404040; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="color: #404040; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="color: #404040; font-weight: bold; text-align: right">&mdash;</TD><TD STYLE="color: #404040; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="color: #404040; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="color: #404040; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="color: #404040; font-weight: bold; text-align: right">&mdash;</TD><TD STYLE="color: #404040; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 52%; color: #404040; text-align: left; padding-left: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #404040">Issuance
    of common stock to Sponsors<SUP>(1)</SUP></FONT></TD><TD STYLE="width: 1%; color: #404040"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #404040; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 9%; color: #404040; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,875,000</FONT></TD><TD STYLE="width: 1%; color: #404040; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #404040"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #404040; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 9%; color: #404040; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">28,750</FONT></TD><TD STYLE="width: 1%; color: #404040; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #404040"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #404040; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 9%; color: #404040; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;28,750</FONT></TD><TD STYLE="width: 1%; color: #404040; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: #404040; text-align: left; padding-bottom: 1.5pt; padding-left: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net
    loss</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="color: #404040; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; color: #404040; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; color: #404040; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(83</FONT></TD><TD STYLE="padding-bottom: 1.5pt; color: #404040; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="color: #404040; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; color: #404040; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; color: #404040; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(83</FONT></TD><TD STYLE="padding-bottom: 1.5pt; color: #404040; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: #404040; font-weight: bold; padding-bottom: 4pt; padding-left: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Balance
    &ndash; February 09, 2021</FONT></TD><TD STYLE="color: #404040; font-weight: bold; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; color: #404040; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 4pt double; color: #404040; font-weight: bold; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,875,000</FONT></TD><TD STYLE="padding-bottom: 4pt; color: #404040; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="color: #404040; font-weight: bold; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; color: #404040; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; color: #404040; font-weight: bold; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">28,750</FONT></TD><TD STYLE="padding-bottom: 4pt; color: #404040; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="color: #404040; font-weight: bold; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; color: #404040; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; color: #404040; font-weight: bold; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(83</FONT></TD><TD STYLE="padding-bottom: 4pt; color: #404040; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="color: #404040; font-weight: bold; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; color: #404040; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; color: #404040; font-weight: bold; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">28,667</FONT></TD><TD STYLE="padding-bottom: 4pt; color: #404040; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #404040"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">At February 09, 2021, includes up to 375,000
    ordinary shares subject to forfeiture if the over-allotment&nbsp;option is not exercised in full or in part by the underwriters.
    (See Note 6)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #404040"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #404040"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
accompanying notes are an integral part to these financial statements.<BR STYLE="clear: both">
&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #404040"></P>

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<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #404040"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #345A8A"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt"><B><A NAME="fin_005"></A>Statement
of Cash Flows</B></FONT></P>

<P STYLE="border-bottom: black 1pt solid; font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #A6A6A6"><FONT STYLE="font-family: Times New Roman, Times, Serif">For
the period from January 21, 2021 (inception) to February 09, 2021</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Cambria, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #486C8F"><FONT STYLE="font-family: Times New Roman, Times, Serif">Cash Flows from Operating Activities:</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 88%; color: black; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net
    Loss</FONT></TD><TD STYLE="width: 1%; color: black"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: black; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; color: black; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(83</FONT></TD><TD STYLE="width: 1%; color: black; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Changes
    in operating assets and liabilities:</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: black; text-align: left; padding-bottom: 1.5pt; text-indent: 0pt; padding-left: 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Accounts
    payable</FONT></TD><TD STYLE="color: black; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; color: black; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; color: black; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">35</FONT></TD><TD STYLE="padding-bottom: 1.5pt; color: black; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: 0pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;Net
    used in operating activities</FONT></TD><TD STYLE="color: black; font-weight: bold; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; color: black; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; color: black; font-weight: bold; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">(48</FONT></TD><TD STYLE="padding-bottom: 4pt; color: black; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: #486C8F; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Cash
    Flows from Financing Activities:</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: #486C8F; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">Proceeds
    from sale of common stock to Sponsors</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">16,750</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">Loans
    from related parties</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">2,963</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: #404040; font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: 0pt; padding-left: 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">Net
    cash provided by financing activities</FONT></TD><TD STYLE="color: #404040; font-weight: bold; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; color: #404040; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; color: #404040; font-weight: bold; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">19,713</FONT></TD><TD STYLE="padding-bottom: 4pt; color: #404040; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: #404040; font-weight: bold; text-align: left; padding-bottom: 4pt; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">Net
    change in cash</FONT></TD><TD STYLE="color: #404040; font-weight: bold; padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; color: #404040; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; color: #404040; font-weight: bold; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">19,665</FONT></TD><TD STYLE="padding-bottom: 4pt; color: #404040; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-indent: 0pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">Cash
    &ndash; beginning of the period</FONT></TD><TD STYLE="color: #404040"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: #404040; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD><TD STYLE="color: #404040; text-align: right"><FONT STYLE="color: Black">&mdash;</FONT></TD><TD STYLE="color: #404040; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; padding-bottom: 1.5pt; text-indent: 0pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">Cash
    &ndash; end of the period</FONT></TD><TD STYLE="color: #404040; font-weight: bold; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; color: #404040; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">$</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; color: #404040; font-weight: bold; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">19,665</FONT></TD><TD STYLE="padding-bottom: 1.5pt; color: #404040; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-indent: 0pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD><TD STYLE="color: #404040; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: #404040; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD><TD STYLE="color: #404040; font-weight: bold; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD><TD STYLE="color: #404040; font-weight: bold; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">Supplemental
    disclosure of noncash financing activities:</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: 0pt; padding-left: 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">Deferred
    offering costs included in accounts payable</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">$</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">19,243</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: 0pt; padding-left: 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">Deferred
    offering costs paid by Sponsor</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">$</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">25,000</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 4pt; text-indent: 0pt; padding-left: 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">Share
    subscription receivable</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">12,000</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>




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<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #404040"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
accompanying notes are an integral part to these financial statements.<BR STYLE="clear: both"></FONT></P>

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<P STYLE="font: 18pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 18pt"><A NAME="fin_006"></A>Bannix
Acquisition Corp.</FONT></P>

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<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #345A8A"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 16pt"><B>Notes
to Financial Statements</B></FONT></P>

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<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #404040"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>February
09, 2021</B></FONT></P>

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<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; color: #404040"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Note
1&nbsp;&mdash; Organization and Business Operations</B></FONT></P>

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<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Organization
and General</I></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Bannix
Acquisition Corp. (the &ldquo;Company&rdquo;) is a newly organized blank check company incorporated in the state of Delaware on
January 21, 2021. The Company was formed for the purpose of effecting mergers, capital stock exchange, asset acquisitions, stock
purchases, reorganization or similar business combinations with one or more businesses (&ldquo;Business Combination&rdquo;). The
Company has not selected any specific Business Combination target and the Company has not, nor has anyone on its behalf, initiated
any substantive discussions, directly or indirectly, with any Business Combination target with respect to the Business Combination.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company has selected December 31 as its fiscal year end.</FONT></P>

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<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of February 09, 2021, the Company had not commenced any operations. All activities for the period from January 21, 2021 (inception)
through February 09, 2021 relate to the Company&rsquo;s formation and the initial Proposed Public Offering (the &ldquo;Proposed
Public Offering&rdquo;) described below. The Company will not generate any operating revenue until after the completion of its
initial Business Combination, at the earliest. The Company will generate non-operating&nbsp;income in the form of interest income
on cash and cash equivalents from the proceeds derived from the Proposed Public Offering.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Sponsors
and Proposed Financing</I></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company&rsquo;s sponsors are Subash Menon and Sudeesh Yezhuvath (through their investment entity Bannix Management LLP) and Suresh
Yezhuvath (the &ldquo;Sponsors&rdquo;). The Company&rsquo;s ability to commence operations is contingent upon obtaining adequate
financial resources through a Proposed Public Offering of 10,000,000 units at $10.00 per unit (the &ldquo;Units&rdquo;) (or 11,500,000
units if the underwriters&rsquo; over-allotment&nbsp;option is exercised in full), which is discussed in Note 3. Each Unit consists
of one ordinary share (the &ldquo;Public Share&rdquo;) and, one-half&nbsp;redeemable warrant to purchase one ordinary share at
a price of $11.50 per whole share. The Company&rsquo;s management has broad discretion with respect to the specific application
of the net proceeds of the Proposed Public Offering and the warrants issued to the Sponsors (the &ldquo;Private Warrants&rdquo;),
although substantially all of the net proceeds are intended to be generally applied toward consummating a Business Combination
(less deferred underwriting commissions).</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Trust
Account</I></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Upon
the closing of the Proposed Public Offering, management has agreed that an aggregate of $10.00 per Unit sold in the Proposed Public
Offering will be held in a trust account (&ldquo;Trust Account&rdquo;) and invested in U.S. government securities, within the
meaning set forth in Section&nbsp;2(a)(16) of the Investment Company Act, with a maturity of 180&nbsp;days or less or in any open-ended&nbsp;investment
company that holds itself out as a money market fund meeting the conditions of Rule&nbsp;2a-7&nbsp;of the Investment Company Act,
as determined by the Company. Except with respect to interest earned on the funds held in the Trust Account that may be released
to the Company to pay its franchise and income tax obligations (less up to $100,000 of interest to pay dissolution expenses),
the proceeds from this offering and the sale of the Private Warrants will not be released from the Trust Account until the earliest
of (a)&nbsp;the completion of the Company&rsquo;s initial Business Combination, (b)&nbsp;the redemption of any Public Shares properly
submitted in connection with a stockholder vote to amend the Company&rsquo;s amended and restated certificate of incorporation,
and (c)&nbsp;the redemption of the Company&rsquo;s Public Shares if the Company is unable to complete the initial Business Combination
within 18&nbsp;months from the closing of this offering, or within any period of extension, subject to applicable law. The proceeds
deposited in the Trust Account could become subject to the claims of the Company&rsquo;s creditors, if any, which could have priority
over the claims of the Company&rsquo;s public stockholders.</FONT></P>

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<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Initial
Business Combination</I></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
will have until 18&nbsp;months from the closing of this offering to consummate our initial Business Combination. However, if we
anticipate that we may not be able to consummate our initial Business Combination within 18&nbsp;months, we may, by resolution
of our board if requested by our initial stockholders, extend the period of time to consummate a Business Combination up to two
times, each by an additional three months (for a total of up to 24&nbsp;months to complete a Business Combination), subject to
the sponsors depositing additional funds into the Trust Account as set out below. Pursuant to the terms of our bylaws and the
trust agreement to be entered into between us and Continental Stock Transfer &amp; Trust Company on the date of this prospectus,
in order to extend the time available for us to consummate our initial Business Combination, our initial stockholders or their
affiliates or designees, upon five days advance notice prior to the applicable deadline, must deposit into the Trust Account for
each three-month&nbsp;extension, $1,000,000, or $1,150,000 if the underwriters&rsquo; over-allotment&nbsp;option is exercised
in full ($0.10 per share in either case) on or prior to the date of the applicable deadline, up to an aggregate of $2,000,000
(or $2,300,000 if the underwriters&rsquo; over-allotment&nbsp;option is exercised in full), or approximately $0.20 per share.
In the event that we receive notice from our Sponsors five days prior to the applicable deadline of its wish for us to effect
an extension, we intend to issue a press release announcing such intention at least three days prior to the applicable deadline.
In addition, we intend to issue a press release the day after the applicable deadline announcing whether or not the funds had
been timely deposited. Our Sponsors and its affiliates or designees are not obligated to fund the Trust Account to extend the
time for us to complete our initial Business Combination. If we are unable to consummate our initial Business Combination within
the applicable time period, we will, promptly but not more than ten business days thereafter, redeem the Public Shares for a pro
rata portion of the funds held in the Trust Account and promptly 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. In such event, the rights and warrants will be worthless.
Additionally, pursuant to Nasdaq rules, any initial Business Combination must be approved by a majority of our independent directors.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
anticipate structuring our initial Business Combination so that the post-transaction&nbsp;company in which our public stockholders
own shares will own or acquire substantially all of the equity interests or assets of the target business or businesses. We may,
however, structure our initial Business Combination such that the post-transaction&nbsp;company owns or acquires less than substantially
all of such interests or assets of the target business in order to meet certain objectives of the target management team or stockholders
or for other reasons, but we will only complete such Business Combination if the post-transaction&nbsp;company owns or acquires
50% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient
for it not to be required to register as an investment company under the Investment Company Act of 1940, as amended (the &ldquo;Investment
Company Act&rdquo;). Even if the post-transaction&nbsp;company owns or acquires 50% or more of the voting securities of the target,
our stockholders prior to the initial Business Combination may collectively own a minority interest in the post-transaction&nbsp;company,
depending on valuations ascribed to the target and us in the Business Combination transaction. For example, we could pursue a
transaction in which we issue a substantial number of new shares in exchange for all of the outstanding capital stock of shares
or other equity interests. In this case, we would acquire a 100% controlling interest in the target. However, as a result of the
issuance of a substantial number of new shares, our stockholders immediately prior to our initial Business Combination could own
less than a majority of our outstanding shares subsequent to our initial Business Combination. If less than 100% of the equity
interests or assets of a target business or businesses are owned or acquired by the post-transaction&nbsp;company, the portion
of such business or businesses that is owned or acquired is what will be valued for purposes of the 80% of net assets test. If
the initial Business Combination involves more than one target business, the 80% of net assets test will be based on the aggregate
value of all of the target businesses even if the acquisitions of the target businesses are not closed simultaneously.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Although
we believe that the net proceeds of this offering will be sufficient to allow us to consummate a Business Combination, because
we have not yet identified any prospective target business, we cannot ascertain the capital requirements for any particular transaction.
If the net proceeds of this offering prove to be insufficient, either because of the size of the Business Combination, the depletion
of the available net proceeds in search of a target business, or because we become obligated to redeem a significant number of
our Public Shares upon consummation of our initial Business Combination, we will be required to seek additional financing, in
which case we may issue additional securities or incur debt in connection with such Business Combination. Furthermore, we may
issue a substantial number of additional ordinary or preferred shares to complete our initial Business Combination or under an
employee incentive plan upon or after consummation of our initial Business Combination. We do not have a maximum debt leverage
ratio or a policy with respect to how much debt we may incur. The amount of debt we will be willing to incur will depend on the
facts and circumstances of the proposed Business Combination and market conditions at the time of the potential Business Combination.
At this time, we are not party to any arrangement or understanding with any third party with respect to raising additional funds
through the sale of our securities or the incurrence of debt. Subject to compliance with applicable securities laws, we would
only consummate such financing simultaneously with the consummation of our initial Business Combination.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Nasdaq
rules require that our initial Business Combination must occur with one or more target businesses that together have an aggregate
fair market value of at least 80% of the assets held in the Trust Account (excluding advisory fees and taxes payable on the income
earned on the Trust Account) at the time of the agreement to enter into the initial Business Combination. If our board is not
able to independently determine the fair market value of the target business or businesses, we will obtain an opinion from an
independent investment banking firm or an independent accounting firm with respect to the satisfaction of such criteria. We do
not intend to purchase multiple businesses in unrelated industries in connection with our initial Business Combination.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company will provide its public stockholders with the opportunity to redeem all or a portion of their Public Shares upon the completion
of the initial Business Combination either (i)&nbsp;in connection with a stockholder meeting called to approve the initial Business
Combination or (ii)&nbsp;by means of a tender offer. The decision as to whether the Company will seek stockholder approval of
a proposed initial Business Combination or conduct a tender offer will be made by the Company, solely at its discretion. The stockholders
will be entitled to redeem their shares for a pro rata portion of the amount then on deposit in the Trust Account (initially approximately
$10.00 per share, plus any pro rata interest earned on the funds held in the Trust Account and not previously released to the
Company to pay its tax obligations).</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
ordinary shares subject to redemption will be recorded at a redemption value and classified as temporary equity upon the completion
of the Proposed Public Offering, in accordance with Accounting Standards Codification (&ldquo;ASC&rdquo;) Topic 480 &ldquo;Distinguishing
Liabilities from Equity.&rdquo; In such case, the Company will proceed with a Business Combination if the Company has net tangible
assets of at least $5,000,001 upon such consummation of a Business Combination and, if the Company seeks stockholder approval,
a majority of the issued and outstanding shares voted are voted in favor of the Business Combination.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Sponsors, officers and directors and Representative (as defined in Note 5) have agreed to (i)&nbsp;waive their redemption rights
with respect to their Founder Shares (as defined in Note 6) and Public Shares in connection with the completion of the initial
Business Combination, (ii)&nbsp;waive their redemption rights with respect to their Founder Shares and Public Shares in connection
with a stockholder vote to approve an amendment to the Company&rsquo;s amended and restated certificate of incorporation, and
(iii)&nbsp;waive their rights to liquidating distributions from the Trust Account with respect to their Founder Shares if the
Company fails to complete the initial Business Combination within the 18 month period post the Proposed Public Offering plus the
two extension periods of 3 months each (the &ldquo;Combination Period&rdquo;).</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company&rsquo;s Sponsors have agreed that they will be liable to the Company if and to the extent any claims by a third party
for services rendered or products sold to the Company, or a prospective target business with which the Company has entered into
a written letter of intent, confidentiality or similar agreement or Business Combination agreement, reduce the amount of funds
in the Trust Account to below the lesser of (i) $10.00 per Public Share and (ii)&nbsp;the actual amount per Public Share held
in the Trust Account as of the date of the liquidation of the Trust Account, if less than $10.00 per share due to reductions in
the value of the trust assets, 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&rsquo;s indemnity of the underwriters of this
offering against certain liabilities, including liabilities under the Securities Act. However, the Company has not asked its Sponsors
to reserve for such indemnification obligations, nor has the Company independently verified whether its Sponsors have sufficient
funds to satisfy its indemnity obligations and believe that the Company&rsquo;s Sponsors&rsquo; only assets are securities of
the Company. Therefore, the Company cannot assure that its Sponsors would be able to satisfy those obligations.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Going Concern
Consideration</I></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of February 09, 2021, the Company had $19,665 in cash and a working capital deficit of $15,576 (excluding deferred offering costs). The Company has incurred and expects to continue to incur significant costs in pursuit of its financing
and acquisition plans. These conditions raise substantial doubt about the Company&rsquo;s ability to continue as a going concern
one year from the issuance date of the financial statements. Management plans to address this uncertainty through a Proposed Public
Offering as discussed in Note 3 and issuance of an unsecured promissory note to with principal up to $300,000 to the Sponsors
as discussed in Note 4. There is no assurance that the Company&rsquo;s plans to raise capital or to consummate a Business Combination
will be successful within the Combination Period. The financial statements do not include any adjustments that might result from
the outcome of this uncertainty.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Note 2&nbsp;&mdash;
Significant Accounting Policies</B></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Basis of
Presentation</I></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
accompanying financial statements of the Company are presented in U.S. dollars in conformity with accounting principles generally
accepted in the United&nbsp;States of America (&ldquo;GAAP&rdquo;) and pursuant to the rules and regulations of the U.S. Securities
and Exchange Commission (&ldquo;SEC&rdquo;).</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>



<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Emerging
Growth Company Status</I></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company is an &ldquo;emerging growth company,&rdquo; as defined in Section&nbsp;2(a) of the Securities Act of 1933, as amended,
(the &ldquo;Securities Act&rdquo;), as modified by the Jumpstart our Business Startups Act of 2012, (the &ldquo;JOBS Act&rdquo;),
and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies
that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation
requirements of Section&nbsp;404 of the Sarbanes-Oxley&nbsp;Act, reduced disclosure obligations regarding executive compensation
in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive
compensation and stockholder approval of any golden parachute payments not previously approved.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"></P>

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<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Further,
Section&nbsp;102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial
accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared
effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised
financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and
comply with the requirements that apply to non-emerging&nbsp;growth companies but any such election to opt out is irrevocable.
The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised
and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt
the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company&rsquo;s
financial statements with another public company which is neither an emerging growth company nor an emerging growth company which
has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting
standards used.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Use of
Estimates</I></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect
the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial
statements and the reported amounts of expenses and revenues during the reporting period. Actual results could differ
from those estimates.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Cash and
Cash Equivalents</I></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company considers all short-term&nbsp;investments with an original maturity of three months or less when purchased to be cash
equivalents. The Company did not have any cash equivalents as of February 09, 2021.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Deferred
Offering Costs</I></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Deferred
offering costs consist of legal and accounting expenses incurred through the balance sheet date that are directly related to the
Proposed Public Offering and that will be charged to stockholders&rsquo; equity upon the completion of the Proposed Public Offering.
Should the Proposed Public Offering prove to be unsuccessful, these deferred costs, as well as additional expenses to be incurred,
will be charged to operations.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Fair Value
of Financial Instruments</I></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
fair value of the Company&rsquo;s cash, receivables and liabilities approximates the carrying amounts represented in the
accompanying balance sheet, due to their short-term&nbsp;nature.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Net Loss
Per Share</I></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net
loss per share is computed by dividing net loss by the weighted average number of shares outstanding during the period, excluding
shares subject to forfeiture. At February 09, 2021, the Company did not have any dilutive securities and other contracts that
could, potentially, be exercised or converted into shares and then share in the earnings of the Company. As a result, diluted
loss per share is the same as basic loss per share for the period presented.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Income
Taxes</I></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company accounts for income taxes under ASC 740 Income Taxes (&ldquo;ASC 740&rdquo;). ASC 740 requires the recognition of deferred
tax assets and liabilities for both the expected impact of differences between the financial statement and tax basis of assets
and liabilities and for the expected future tax benefit to be derived from tax loss and tax credit carry forwards. ASC 740 additionally
requires a valuation allowance to be established when it is more likely than not that all or a portion of deferred tax assets
will not be realized.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">ASC
740 also clarifies the accounting for uncertainty in income taxes recognized in an enterprise&rsquo;s financial statements and
prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position
taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not&nbsp;to
be sustained upon examination by taxing authorities. ASC 740 also provides guidance on derecognition, classification, interest
and penalties, accounting in interim period, disclosure and transition.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized
tax benefits and no amounts accrued for interest and penalties as of February&nbsp;09, 2021. The Company is currently not aware
of any issues under review that could result in significant payments, accruals or material deviation from its position.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
provision for income taxes was deemed to be immaterial for the period from January&nbsp;21, 2021 (inception) through February&nbsp;09,
2021.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"></P>

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<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Concentration
of Credit Risk</I></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Financial
instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution,
which, at times, may exceed the federal depository insurance coverage of $250,000. The Company has not experienced losses on these
accounts and management believes the Company is not exposed to significant risks on such accounts.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Recent
Accounting Pronouncements</I></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Management
does not believe that any recently issued, but not effective, accounting standards, if currently adopted, would have a material
effect on the Company&rsquo;s financial statements.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Note 3&nbsp;&mdash;
Proposed Public Offering</B></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
the Proposed Public Offering, the Company will offer for sale up to 10,000,000 Units, (or 11,500,000 Units if the underwriters&rsquo;
over-allotment&nbsp;option is exercised in full) at a purchase price of $10.00 per Unit. Each Unit that the Company is offering
has a price of $10.00 and consists of one ordinary share and one-half&nbsp;warrant to purchase one ordinary share. Each warrant
will entitle the holder to purchase one ordinary share at a price of $11.50 per share, subject to adjustment. Each warrant will
become exercisable on the later of the completion of the initial Business Combination or 12&nbsp;months from the closing of this
offering and will expire five years after the completion of the initial Business Combination, or earlier upon redemption or liquidation
(see Note 6). The ordinary shares and warrants comprising the Units will begin separate trading on the 52<SUP>nd</SUP>&nbsp;day
following the date of this prospectus unless our underwriters, I-Bankers&nbsp;Securities, Inc., inform us of their decision to
allow earlier separate trading, subject to our having filed the Current Report on Form 8-K&nbsp;described above, and having issued
a press release announcing when such separate trading will begin. At the time that the ordinary shares and warrants comprising
the Units begin separate trading, holders will hold the separate securities and no longer hold units (without any action needing
to be taken by the holders), and the units will no longer trade.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Note 4&nbsp;&mdash;
Related Party Transactions</B></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Promissory
Note&nbsp;&mdash; Related Party</I></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company shall issue an unsecured promissory note to the Sponsors, as and when required, pursuant to which the Company may borrow
up to an aggregate principal amount of $300,000 to be used for a portion of the expenses of this offering. This note is non-interest&nbsp;bearing,
unsecured and due at the earlier of June&nbsp;30, 2021 or the successful closing of this offering. The loan will be repaid upon
the closing of this offering out of the estimated $1,500,000 of offering proceeds that has been allocated to the payment of offering
expenses (other than underwriting commissions). In the event of this offering not materializing, the note will not be repayable.
No promissory notes were outstanding as of February 09, 2021. As of February 15, 2021, the Company has withdrawn $19,965 under
the terms of the promissory note.&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Loans &ndash;
Related Parties</I></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
order to finance transaction costs in connection with a Business Combination, the Sponsors or an affiliate of the Sponsors or
certain of the Company&rsquo;s officers and directors may, but are not obligated to, loan the Company funds as may be required.
If the Company completes a Business Combination, the Company would repay the loans out of the proceeds of the Trust Account released
to the Company. Otherwise, the loans would be repaid only out of funds held outside the Trust Account. In the event that a Business
Combination does not close, the Company may use a portion of the working capital held outside the Trust Account to repay the loans
but no proceeds from the Trust Account would be used to repay the loans. These loans are non-interest bearing and are due for
repayment within 6 months of January 29, 2021 in cash or issuance of share and/or warrants of equivalent value. At February 09,
2021, loans outstanding were $27,963. An additional $35 was included in Accounts Payable on the Balance Sheet for expenses paid
by one of the Sponsors on behalf of the Company.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Rent &ndash;
Related Party</I></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company&rsquo;s principal executive offices are located in Woodcliff Lake, New Jersey. The headquarters is located in the offices
of a business associate of the Company. The Company is not paying rent for this space at this time.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 27pt"></P>

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<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Note 5&nbsp;&mdash;
Commitments and Contingencies</B></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Registration
Rights</I></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
holders of the Founder Shares, private placement warrants, and warrants that may be issued upon conversion of related party loans
will have registration rights to require the Company to register a sale of any of its securities held by them pursuant to a registration
rights agreement to be signed prior to or on the effective date of this offering. These holders will be entitled to make up to
three demands, excluding short form registration demands, that the Company registers such securities for sale under the Securities
Act. In addition, these holders will have &ldquo;piggy-back&rdquo; registration rights to include their securities in other registration
statements filed by the Company.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Underwriters&rsquo;
Agreement</I></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
underwriters have a 30-day&nbsp;option from the date of Proposed Public Offering to purchase up to an additional 1,500,000 units
to cover over-allotments, if any.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
underwriters will be entitled to a cash underwriting discount of 2% of the gross proceeds of the Proposed Public Offering,
or $2,000,000 (of which $1,000,000 will be used by I-Bankers to acquire 1,000,000 private placement warrants that will be issued
to our sponsors in lieu of I-Bankers), and a deferred underwriting discount of $300,000 in the aggregate if the underwriters&rsquo;
over-allotment&nbsp;option is exercised in full which will be payable to the underwriters from the amounts held in the Trust Account
solely in the event that the Company completes a Business Combination, subject to the terms of the underwriting agreement. Additionally,
the underwriters will be entitled to a Business Combination marketing fee of 2.75% of the gross proceeds of the Proposed Public
Offering held in the Trust Account upon the completion of the Company&rsquo;s initial Business Combination subject to the terms
of the underwriting agreement.</FONT></P>
<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company expects to issue the underwriter (and/or its designees) (the &ldquo;Representative&rdquo;) 250,000 (or 287,500
if the underwriters&rsquo; over-allotment&nbsp;is exercised in full) of ordinary shares for $0.01 per share (the &ldquo;Representative
Shares&rdquo;) upon the consummation of the Proposed Public Offering. The Company intends to account for the Representative Shares
as an expense of the Proposed Public Offering resulting in a charge directly to stockholders&rsquo; equity. In addition, the Company
expects the Representative to agree (i)&nbsp;to waive its redemption rights with respect to such shares in connection with the
completion of the initial Business Combination and (ii)&nbsp;to waive its rights to liquidating distributions from the Trust Account
with respect to such shares if the Company fails to complete its initial Business Combination within the Combination Period.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
addition, the Company has agreed to issue to the Representative a warrant to purchase up to 300,000 ordinary shares (or 345,000&nbsp;shares
if the underwriters&rsquo; over-allotment&nbsp;option is exercised in full) at $12.00 per share (the &ldquo;Representative Warrants&rdquo;).
Such warrants will not be redeemable for as long as they are held by the Representative and they may not be exercised after five
years from the effective date of the registration statement of which the Proposed Public Offering forms a part. Except as described
above, the warrants are identical to those underlying the units offered by in the Proposed Public Offering.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Risks and
Uncertainties</I></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Management
is currently evaluating the impact of the COVID-19&nbsp;pandemic on the industry and has concluded that while it is reasonably
possible that the virus could have a negative effect on the Company&rsquo;s financial position, results of its operations, close
of the Proposed Public Offering, and/or search for a target company, the specific impact is not readily determinable as of the
date of these financial statements. The financial statements do not include any adjustments that might result from the outcome
of this uncertainty.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Note 6&nbsp;&mdash;
Stockholder&rsquo;s Equity</B></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Ordinary
shares<B>&nbsp;</B></I></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company is authorized to issue a total of 10,000,000 ordinary shares with par value of $0.01 each. At February 09, 2021, a total
of 2,875,000 ordinary shares were issued.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Each
share of ordinary shares entitles the holder to one vote.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;<I>&nbsp;</I></FONT></P>

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<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Founder
Shares</I></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
February 2021, the Sponsors subscribed 2,875,000&nbsp;shares of the Company&rsquo;s ordinary shares (the &ldquo;Founder Shares&rdquo;)
for $28,750, or $0.01 per share, in connection with formation. As of February 09, 2021, the Company had received $16,750 and reflected
the balance of $12,000 as share subscription receivable. The balance was received on February 12, 2021. Out of the Founder Shares,
up to 375,000 ordinary shares are subject to forfeiture if the over-allotment&nbsp;option is not exercised in full or in part
by the underwriters.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt; color: #404040"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Sponsors have agreed not to transfer, assign or sell <FONT STYLE="color: #404040">the Founder Shares until the earlier </FONT>to
occur of: (A) one year after the completion of our initial Business Combination or (B) the date on which we complete a liquidation,
merger, stock exchange or other similar transaction after our initial Business Combination that results in all of our public stockholders
having the right to exchange their shares of common stock for cash, securities or other property. We refer to such transfer restrictions
as the &ldquo;lock-up&rdquo;. Notwithstanding the foregoing, if the last sale price of our 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, the Founder Shares
will be released from the lock-up.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt; color: #404040"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Warrants<B>&nbsp;</B></I></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 22.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">No
warrants are currently outstanding. Each whole warrant entitles the holder to purchase one share of the Company&rsquo;s ordinary
shares at a price of $11.50 per share, subject to adjustment as discussed herein. In addition, if (x)&nbsp;the Company issues
additional ordinary shares or equity-linked&nbsp;securities for capital raising purposes in connection with the closing of its
initial Business Combination at an issue price or effective issue price of less than $9.20 per share of ordinary shares (with
such issue price or effective issue price to be determined in good faith by the Company&rsquo;s board of directors and, in the
case of any such issuance to the Company&rsquo;s Sponsors or its affiliates, without taking into account any Founder Shares held
by the Company&rsquo;s Sponsors or its affiliates, prior to such issuance) (the &ldquo;Newly Issued Price&rdquo;), (y)&nbsp;the
aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available
for the funding of the initial Business Combination on the date of the consummation of the initial Business Combination (net of
redemptions), and (z)&nbsp;the volume weighted average trading price of the Company&rsquo;s ordinary shares during the 20 trading
day period starting on the trading day prior to the day on which the Company consummates the initial Business Combination (such
price, the &ldquo;Market Value&rdquo;) is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest
cent) to be equal to 115% of the Market Value, and the $18.00 per share redemption trigger price described below under &ldquo;Redemption
of warrants&rdquo; will be adjusted (to the nearest cent) to be equal to 180% of the Market Value.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 22.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
warrants will become exercisable on the later of 12&nbsp;months from the closing of this offering or upon completion of its initial
Business Combination and will expire five years after the completion of the Company&rsquo;s initial Business Combination, at 5:00
p.m., Eastern Time, or earlier upon redemption or liquidation.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company will not be obligated to deliver any ordinary shares pursuant to the exercise of a warrant and will have no obligation
to settle such warrant exercise unless a registration statement under the Securities Act with respect to the ordinary shares underlying
the warrants is then effective and a prospectus is current. No warrant will be exercisable, and the Company will not be obligated
to issue ordinary shares upon exercise of a warrant unless ordinary shares 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 no event will the Company 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 ordinary shares underlying such unit.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"></P>

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<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Redemption
of warrants</I></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company may call the warrants for redemption (excluding the private warrants, and any outstanding Representative&rsquo;s Warrants,
and any warrants underlying units issued to the Sponsors, initial stockholders, officers, directors or their affiliates in payment
of related party loans made to the Company), in whole and not in part, at a price of $0.01 per warrant:</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Cambria, Times, Serif; margin-top: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 12pt; text-align: left"></TD><TD STYLE="width: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">at
                                         any time while the warrants are exercisable,</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: left; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Cambria, Times, Serif; margin-top: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 12pt; text-align: left"></TD><TD STYLE="width: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&bull;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">upon
                                         not less than 30&nbsp;days prior written notice of redemption to each warrant holder,</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: left; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Cambria, Times, Serif; margin-top: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 12pt; text-align: left"></TD><TD STYLE="width: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">if,
                                         and only if, the reported last sale price of the ordinary shares equals or exceeds $18.00
                                         per share (as adjusted for stock splits, stock dividends, reorganizations and recapitalizations),
                                         for any 20 trading days within a 30 trading day period ending on the third trading business
                                         day prior to the notice of redemption to warrant holders, and</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: left; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Cambria, Times, Serif; margin-top: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 12pt; text-align: left"></TD><TD STYLE="width: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">if,
                                         and only if, there is a current registration statement in effect with respect to the
                                         issuance of the ordinary shares underlying such warrants at the time of redemption and
                                         for the entire 30-day&nbsp;trading period referred to above and continuing each day until
                                         the date of redemption.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0 0pt 48pt; text-align: left; text-indent: -24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
the Company calls the warrants for redemption as described above, the management will have the option to require any holder that
wishes to exercise its warrant to do so on a &ldquo;cashless basis.&rdquo; If the management takes advantage of this option, all
holders of warrants would pay the exercise price by surrendering their warrants for that number of shares of ordinary shares equal
to the quotient obtained by dividing (x)&nbsp;the product of the number of shares of ordinary shares underlying the warrants,
multiplied by the excess of the &ldquo;fair market value&rdquo; (defined below) over the exercise price of the warrants by (y)&nbsp;the
fair market value. The &ldquo;fair market value&rdquo; shall mean the average reported last sale price of the ordinary shares
for the 10 trading days ending on the third trading day prior to the date on which the notice of redemption is sent to the holders
of warrants.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
the Company is unable to complete an initial Business Combination within the Combination Period and the Company liquidates the
funds held in the Trust Account, holders of warrants will not receive any of such funds with respect to their warrants, nor will
they receive any distribution from the Company&rsquo;s assets held outside of the Trust Account with respect to such warrants.
Accordingly, the warrants may expire worthless.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Note 7&nbsp;&mdash;
Subsequent Events</B></FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company evaluated subsequent events and transactions through the date of the filing. Based upon this review, other than as described
above, the Company did not identify any subsequent events that would have required adjustment or disclosure in the financial statements.</FONT></P>

<P STYLE="font: 10pt Cambria, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt">BANNIX
ACQUISITION CORP.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt">10,000,000
Units</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Prospectus</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 0pt auto; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">,
2021</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Sole
Book-Running Manager</I></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt">I-Bankers&nbsp;Securities,
Inc.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Co-Manager</I></B></FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Co-Manager</I></B></FONT></TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Through
and including &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 2021 (25&nbsp;days
after the commencement of this offering), all dealers that effect transactions in these securities, whether or not participating
in this offering, may be required to deliver a prospectus. This delivery is in addition to a dealer&rsquo;s obligation to deliver
a prospectus when acting as an underwriter and with respect to their unsold allotments or subscriptions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">PART
II</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">INFORMATION
NOT REQUIRED IN PROSPECTUS</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Item&nbsp;13.
Other Expenses of Issuance and Distribution.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
estimated expenses payable by us in connection with the offering described in this registration statement (other than the underwriting
discounts and commissions) will be as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 88%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Legal
    fees and expenses</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">225,000</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Accounting
    fees and expenses</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">40,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Underwriter&rsquo;s
    counsel and road show fees</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">150,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Printing
    and EDGAR filing fees</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">40,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">SEC
    registration fees</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">12,860</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">FINRA
    Expenses</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">18,181</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Directors&rsquo;
    and officers&rsquo; insurance</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">400,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Nasdaq
    listing and filing fees</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">75,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Miscellaneous
    expenses</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">38,959</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
    offering expenses</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1,000,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 0pt; padding-left: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Item&nbsp;14.
Indemnification of Directors and Officers.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
amended and restated certificate of incorporation will provide that all of our directors, officers, employees and agents shall
be entitled to be indemnified by us to the fullest extent permitted by Section&nbsp;145 of the Delaware General Corporation Law
(&ldquo;DGCL&rdquo;). Section&nbsp;145 of the DGCL concerning indemnification of officers, directors, employees and agents is
set forth below.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Section&nbsp;145.
Indemnification of officers, directors, employees and agents; insurance.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; width: 0.25in; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(a)</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">A
    corporation shall have power to indemnify any person who was or is a party or is threatened to be made a party to any threatened,
    pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action
    by or in the right of the corporation) by reason of the fact that the person is or was a director, officer, employee or agent
    of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another
    corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys&rsquo; fees), judgments,
    fines and amounts paid in settlement actually and reasonably incurred by the person in connection with such action, suit or
    proceeding if the person acted in good faith and in a manner the person reasonably believed to be in or not opposed to the
    best interests of the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe
    the person&rsquo;s conduct was unlawful. The termination of any action, suit or proceeding by judgment, order, settlement,
    conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that the person
    did not act in good faith and in a manner which the person reasonably believed to be in or not opposed to the best interests
    of the corporation, and, with respect to any criminal action or proceeding, had reasonable cause to believe that the person&rsquo;s
    conduct was unlawful.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; width: 0.25in; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(b)</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">A
    corporation shall have power to indemnify any person who was or is a party or is threatened to be made a party to any threatened,
    pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor by reason of
    the fact that the person is or was a director, officer, employee or agent of the corporation, or is or was serving at the
    request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust
    or other enterprise against expenses (including attorneys&rsquo; fees) actually and reasonably incurred by the person in connection
    with the defense or settlement of such action or suit if the person acted in good faith and in a manner the person reasonably
    believed to be in or not opposed to the best interests of the corporation and except that no indemnification shall be made
    in respect of any claim, issue or matter as to which such person shall have been adjudged to be liable to the corporation
    unless and only to the extent that the Court of Chancery or the court in which such action or suit was brought shall determine
    upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person
    is fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery or such other court shall deem
    proper.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; width: 0.25in; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(c)</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">To
    the extent that a present or former director or officer of a corporation has been successful on the merits or otherwise in
    defense of any action, suit or proceeding referred to in subsections (a)&nbsp;and (b)&nbsp;of this section, or in defense
    of any claim, issue or matter therein, such person shall be indemnified against expenses (including attorneys&rsquo; fees)
    actually and reasonably incurred by such person in connection therewith.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; width: 0.25in; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(d)</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Any
    indemnification under subsections (a)&nbsp;and (b)&nbsp;of this section (unless ordered by a court) shall be made by the corporation
    only as authorized in the specific case upon a determination that indemnification of the present or former director, officer,
    employee or agent is proper in the circumstances because the person has met the applicable standard of conduct set forth in
    subsections (a)&nbsp;and (b)&nbsp;of this section. Such determination shall be made, with respect to a person who is a director
    or officer at the time of such determination, (1)&nbsp;by a majority vote of the directors who are not parties to such action,
    suit or proceeding, even though less than a quorum, or (2)&nbsp;by a committee of such directors designated by majority vote
    of such directors, even though less than a quorum, or (3)&nbsp;if there are no such directors, or if such directors so direct,
    by independent legal counsel in a written opinion, or (4)&nbsp;by the stockholders.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; width: 0.25in; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(e)</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Expenses
    (including attorneys&rsquo; fees) incurred by an officer or director in defending any civil, criminal, administrative or investigative
    action, suit or proceeding may be paid by the corporation in advance of the final disposition of such action, suit or proceeding
    upon receipt of an undertaking by or on behalf of such director or officer to repay such amount if it shall ultimately be
    determined that such person is not entitled to be indemnified by the corporation as authorized in this section. Such expenses
    (including attorneys&rsquo; fees) incurred by former officers and directors or other employees and agents may be so paid upon
    such terms and conditions, if any, as the corporation deems appropriate.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; width: 0.25in; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(f)</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
    indemnification and advancement of expenses provided by, or granted pursuant to, the other subsections of this section shall
    not be deemed exclusive of any other rights to which those seeking indemnification or advancement of expenses may be entitled
    under any bylaw, agreement, vote of stockholders or disinterested directors or otherwise, both as to action in such person&rsquo;s
    official capacity and as to action in another capacity while holding such office. A right to indemnification or to advancement
    of expenses arising under a provision of the certificate of incorporation or a bylaw shall not be eliminated or impaired by
    an amendment to such provision after the occurrence of the act or omission that is the subject of the civil, criminal, administrative
    or investigative action, suit or proceeding for which indemnification or advancement of expenses is sought, unless the provision
    in effect at the time of such act or omission explicitly authorizes such elimination or impairment after such action or omission
    has occurred.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; width: 0.25in; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(g)</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">A
    corporation shall have power to purchase and maintain insurance on behalf of any person who is or was a director, officer,
    employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee
    or agent of another corporation, partnership, joint venture, trust or other enterprise against any liability asserted against
    such person and incurred by such person in any such capacity, or arising out of such person&rsquo;s status as such, whether
    or not the corporation would have the power to indemnify such person against such liability under this section.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; width: 0.25in; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(h)</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">For
    purposes of this section, references to &ldquo;the corporation&rdquo; shall include, in addition to the resulting corporation,
    any constituent corporation (including any constituent of a constituent) absorbed in a consolidation or merger which, if its
    separate existence had continued, would have had power and authority to indemnify its directors, officers, and employees or
    agents, so that any person who is or was a director, officer, employee or agent of such constituent corporation, or is or
    was serving at the request of such constituent corporation as a director, officer, employee or agent of another corporation,
    partnership, joint venture, trust or other enterprise, shall stand in the same position under this section with respect to
    the resulting or surviving corporation as such person would have with respect to such constituent corporation if its separate
    existence had continued.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; width: 0.25in; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(i)</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">For
    purposes of this section, references to &ldquo;other enterprises&rdquo; shall include employee benefit plans; references to
    &ldquo;fines&rdquo; shall include any excise taxes assessed on a person with respect to any employee benefit plan; and references
    to &ldquo;serving at the request of the corporation&rdquo; shall include any service as a director, officer, employee or agent
    of the corporation which imposes duties on, or involves services by, such director, officer, employee or agent with respect
    to an employee benefit plan, its participants or beneficiaries; and a person who acted in good faith and in a manner such
    person reasonably believed to be in the interest of the participants and beneficiaries of an employee benefit plan shall be
    deemed to have acted in a manner &ldquo;not opposed to the best interests of the corporation&rdquo; as referred to in this
    section.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; width: 0.25in; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(j)</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
    indemnification and advancement of expenses provided by, or granted pursuant to, this section shall, unless otherwise provided
    when authorized or ratified, continue as to a person who has ceased to be a director, officer, employee or agent and shall
    inure to the benefit of the heirs, executors and administrators of such a person.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; width: 0.25in; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(k)</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
    Court of Chancery is hereby vested with exclusive jurisdiction to hear and determine all actions for advancement of expenses
    or indemnification brought under this section or under any bylaw, agreement, vote of stockholders or disinterested directors,
    or otherwise. The Court of Chancery may summarily determine a corporation&rsquo;s obligation to advance expenses (including
    attorneys&rsquo; fees).</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Insofar
as indemnification for liabilities arising under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;) may
be permitted to our directors, officers, and controlling persons pursuant to the foregoing provisions, or otherwise, we have been
advised that, in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities Act and
is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment of
expenses incurred or paid by a director, officer or controlling person in a successful defense of any action, suit or proceeding)
is asserted by such director, officer or controlling person in connection with the securities being registered, we will, unless
in the opinion of our counsel the matter has been settled by controlling precedent, submit to the court of appropriate jurisdiction
the question whether such indemnification by us is against public policy as expressed in the Securities Act and will be governed
by the final adjudication of such issue.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
accordance with Section&nbsp;102(b)(7) of the DGCL, our amended and restated certificate of incorporation, will provide that no
director shall be personally liable to us or any of our stockholders for monetary damages resulting from breaches of their fiduciary
duty as directors, except to the extent such limitation on or exemption from liability is not permitted under the DGCL. The effect
of this provision of our amended and restated certificate of incorporation is to eliminate our rights and those of our stockholders
(through stockholders&rsquo; derivative suits on our behalf) to recover monetary damages against a director for breach of the
fiduciary duty of care as a director, including breaches resulting from negligent or grossly negligent behavior, except, as restricted
by Section&nbsp;102(b)(7) of the DGCL. However, this provision does not limit or eliminate our rights or the rights of any stockholder
to seek nonmonetary relief, such as an injunction or rescission, in the event of a breach of a director&rsquo;s duty of care.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
the DGCL is amended to authorize corporate action further eliminating or limiting the liability of directors, then, in accordance
with our amended and restated certificate of incorporation, the liability of our directors to us or our stockholders will be eliminated
or limited to the fullest extent authorized by the DGCL, as so amended. Any repeal or amendment of provisions of our amended and
restated certificate of incorporation limiting or eliminating the liability of directors, whether by our stockholders or by changes
in law, or the adoption of any other provisions inconsistent therewith, will (unless otherwise required by law) be prospective
only, except to the extent such amendment or change in law permits us to further limit or eliminate the liability of directors
on a retroactive basis.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
amended and restated certificate of incorporation will also provide that we will, to the fullest extent authorized or permitted
by applicable law, indemnify our current and former officers and directors, as well as those persons who, while directors or officers
of our corporation, are or were serving as directors, officers, employees or agents of another entity, trust or other enterprise,
including service with respect to an employee benefit plan, in connection with any threatened, pending or completed proceeding,
whether civil, criminal, administrative or investigative, against all expense, liability and loss (including, without limitation,
attorneys&rsquo; fees, judgments, fines, ERISA excise taxes and penalties and amounts paid in settlement) reasonably incurred
or suffered by any such person in connection with any such proceeding. Notwithstanding the foregoing, a person eligible for indemnification
pursuant to our amended and restated certificate of incorporation will be indemnified by us in connection with a proceeding initiated
by such person only if such proceeding was authorized by our board of directors, except for proceedings to enforce rights to indemnification.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
right to indemnification which will be conferred by our amended and restated certificate of incorporation is a contract right
that includes the right to be paid by us the expenses incurred in defending or otherwise participating in any proceeding referenced
above in advance of its final disposition, provided, however, that if the DGCL requires, an advancement of expenses incurred by
our officer or director (solely in the capacity as an officer or director of our corporation) will be made only upon delivery
to us of an undertaking, by or on behalf of such officer or director, to repay all amounts so advanced if it is ultimately determined
that such person is not entitled to be indemnified for such expenses under our amended and restated certificate of incorporation
or otherwise.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
rights to indemnification and advancement of expenses will not be deemed exclusive of any other rights which any person covered
by our amended and restated certificate of incorporation may have or hereafter acquire under law, our amended and restated certificate
of incorporation, our bylaws, an agreement, vote of stockholders or disinterested directors, or otherwise.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Any
repeal or amendment of provisions of our amended and restated certificate of incorporation affecting indemnification rights, whether
by our stockholders or by changes in law, or the adoption of any other provisions inconsistent therewith, will (unless otherwise
required by law) be prospective only, except to the extent such amendment or change in law permits us to provide broader indemnification
rights on a retroactive basis, and will not in any way diminish or adversely affect any right or protection existing at the time
of such repeal or amendment or adoption of such inconsistent provision with respect to any act or omission occurring prior to
such repeal or amendment or adoption of such inconsistent provision. Our amended and restated certificate of incorporation will
also permit us, to the extent and in the manner authorized or permitted by law, to indemnify and to advance expenses to persons
other that those specifically covered by our amended and restated certificate of incorporation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
bylaws include the provisions relating to advancement of expenses and indemnification rights consistent with those which will
be set forth in our amended and restated certificate of incorporation. In addition, our bylaws provide for a right of indemnity
to bring a suit in the event a claim for indemnification or advancement of expenses is not paid in full by us within a specified
period of time. Our bylaws also permit us to purchase and maintain insurance, at our expense, to protect us and/or any director,
officer, employee or agent of our corporation or another entity, trust or other enterprise against any expense, liability or loss,
whether or not we would have the power to indemnify such person against such expense, liability or loss under the DGCL.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Any
repeal or amendment of provisions of our bylaws affecting indemnification rights, whether by our board of directors, stockholders
or by changes in applicable law, or the adoption of any other provisions inconsistent therewith, will (unless otherwise required
by law) be prospective only, except to the extent such amendment or change in law permits us to provide broader indemnification
rights on a retroactive basis, and will not in any way diminish or adversely affect any right or protection existing thereunder
with respect to any act or omission occurring prior to such repeal or amendment or adoption of such inconsistent provision.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
will enter into indemnification agreements with each of our officers and directors a form of which is to be filed as an exhibit
to this Registration Statement. These agreements will require us to indemnify these individuals to the fullest extent permitted
under Delaware law against liabilities that may arise by reason of their service to us, and to advance expenses incurred as a
result of any proceeding against them as to which they could be indemnified.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pursuant
to the Underwriting Agreement to be filed as Exhibit 1.1 to this Registration Statement, we have agreed to indemnify the underwriters
and the underwriters have agreed to indemnify us against certain civil liabilities that may be incurred in connection with this
offering, including certain liabilities under the Securities Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Item&nbsp;15.
Recent Sales of Unregistered Securities.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">In
January and February 2021, we issued 2,875,000 shares of common stock to our initial stockholders for an aggregate purchase price
of $28,750. Such securities were issued in connection with our organization pursuant to the exemption from registration contained
in Section&nbsp;4(a)(2) of the Securities Act. Our sponsors are accredited investors for purposes of Rule&nbsp;501 of Regulation
D.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 24.5pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
sponsors and&nbsp;The anchor investor&nbsp;have committed to purchase an aggregate of 3,500,000 warrants (or 3,800,000 warrants
if the underwriters&rsquo; over-allotment option is exercised in full) at a price of $1.00 per warrant ($3,500,000 in the aggregate,
or $3,800,000 if the underwriters&rsquo; over-allotment option is exercised in full) in a private placement that will close simultaneously
with the closing of this offering. These issuances will be made pursuant to the exemption from registration contained in Section&nbsp;4(a)(2)
of the Securities Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 24.5pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">No
underwriting discounts or commissions were or will be paid with respect to such sales.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Item&nbsp;16.
Exhibits and Financial Statement Schedules.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; width: 0.25in; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(a)</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Exhibits.
    The list of exhibits immediately preceding the signature page of this registration statement is incorporated herein by reference.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; width: 0.25in; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(b)</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Financial
    Statements. See page&nbsp;F-1&nbsp;for an index to the financial statements and schedules included in the registration statement.</FONT></TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Item&nbsp;17.
Undertakings.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; width: 0.25in; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(a)</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
    undersigned registrant hereby undertakes to provide to the underwriters at the closing specified in the underwriting agreements,
    certificates in such denominations and registered in such names as required by the underwriters to permit prompt delivery
    to each purchaser.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; width: 0.25in; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(b)</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Insofar
    as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling
    persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the
    opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities
    Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the
    payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the
    successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection
    with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled
    by controlling precedent, submit to a</FONT></TD></TR>
<TR>
    <TD COLSPAN="2" STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">court
    of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities
    Act and will be governed by the final adjudication of such issue.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="padding-top: 0pt; width: 0.25in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; width: 0.25in; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(c)</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
    undersigned registrant hereby undertakes that:</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; width: 0.25in; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(1)</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">For
    purposes of determining any liability under the Securities Act, the information omitted from the form of prospectus filed
    as part of this registration statement in reliance upon Rule&nbsp;430A and contained in a form of prospectus filed by the
    registrant pursuant to Rule&nbsp;424(b)(1) or (4)&nbsp;or 497(h) under the Securities Act shall be deemed to be part of this
    registration statement as of the time it was declared effective.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; width: 0.25in; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(2)</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">For
    the purpose of determining any liability under the Securities Act, each post-effective amendment that contains a form of prospectus
    shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities
    at that time shall be deemed to be the initial bona fide offering thereof.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; width: 0.25in; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(3)</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">For
    the purpose of determining liability under the Securities Act to any purchaser, if the registrant is subject to Rule&nbsp;430C,
    each prospectus filed pursuant to Rule&nbsp;424(b) as part of a registration statement relating to an offering, other than
    registration statements relying on Rule&nbsp;430B or other than prospectuses filed in reliance on Rule&nbsp;430A, shall be
    deemed to be part of and included in the registration statement as of the date it is first used after effectiveness. Provided,
    however, that no statement made in a registration statement or prospectus that is part of the registration statement or made
    in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part
    of the registration statement will, as to a purchaser with a time of contract of sale prior to such first use, supersede or
    modify any statement that was made in the registration statement or prospectus that was part of the registration statement
    or made in any such document immediately prior to such date of first use.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="padding-top: 0pt; width: 0.5in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; width: 0.25in; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(4)</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">For
    the purpose of determining liability of a registrant under the Securities Act to any purchaser in the initial distribution
    of the securities, the undersigned registrant undertakes that in a primary offering of securities of an undersigned registrant
    pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser,
    if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant
    will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="padding-top: 0pt; width: 0.75in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; width: 0.25in; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(i)</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Any
    preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant
    to Rule&nbsp;424;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="padding-top: 0pt; width: 0.75in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; width: 0.25in; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(ii)</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Any
    free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred
    to by an undersigned registrant;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="padding-top: 0pt; width: 0.75in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; width: 0.25in; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(iii)</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
    portion of any other free writing prospectus relating to the offering containing material information about the undersigned
    registrant or its securities provided by or on behalf of the undersigned registrant; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="padding-top: 0pt; width: 0.75in; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; width: 0.25in; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(iv)</FONT></TD>
    <TD STYLE="padding-top: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Any
    other communication that is an offer in the offering made by the undersigned registrant to the purchaser.</FONT></TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>


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    <DIV STYLE=" margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">EXHIBIT
INDEX</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0pt; border-bottom: Black 1.5pt solid; white-space: nowrap; text-indent: 0pt; width: 9%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit&nbsp;No.</B></FONT></P></TD>
    <TD STYLE="padding: 0pt; text-indent: 0pt; width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt; width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT></TD></TR>
<TR>
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt; white-space: nowrap; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.1</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form
    of Underwriting Agreement.**</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt; white-space: nowrap; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form
    of Business Combination Marketing Agreement between the Registrant and&nbsp;I-Bankers&nbsp;Securities, Inc.**</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt; white-space: nowrap; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.1</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate
    of Incorporation.**</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt; white-space: nowrap; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.2</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form
    of Amended and Restated Certificate of Incorporation.**</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt; white-space: nowrap; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.3</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bylaws.**</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt; white-space: nowrap; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Specimen
    Unit Certificate.**</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt; white-space: nowrap; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.2</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Specimen
    Common Stock Certificate.**</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt; white-space: nowrap; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.3</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Specimen
    Warrant Certificate.**</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt; white-space: nowrap; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.4</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form
    of Warrant Agreement between Continental Stock Transfer&nbsp;&amp; Trust Company and the Registrant.**</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt; white-space: nowrap; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.1</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opinion
    of Loeb &amp; Loeb LLP.**</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt; white-space: nowrap; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.1</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Promissory
    Note issued by the Registrant to Sponsors.**</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt; white-space: nowrap; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.2</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form
    of Letter Agreement among the Registrant, Sponsors and each officer and director of the Registrant.**</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt; white-space: nowrap; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.3</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form
    of Investment Management Trust Agreement between Continental Stock Transfer&nbsp;&amp; Trust Company and the Registrant.**</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt; white-space: nowrap; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.4</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form
    of Registration Rights Agreement among the Registrant and certain security holders.**</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt; white-space: nowrap; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.5</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form
    of Founder Stock Subscription Agreement.**</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt; white-space: nowrap; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.6</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form
    of Private Placement Warrants Purchase Agreement between the Registrant and the parties thereto.**</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt; white-space: nowrap; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.7</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form
    of Subscription Agreement between the Registrant and Sponsors.*</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt; white-space: nowrap; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.8</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form
    of Indemnity Agreement.**</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt; white-space: nowrap; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.9</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form
    of Administrative Services Agreement.**</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt; white-space: nowrap; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form
    of Code of Ethics.**</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt; white-space: nowrap; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.1</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ex23_1.htm">Consent of Rotenberg, Meril, Solomon Bertiger &amp; Guttilla, P.C.</A>*</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt; white-space: nowrap; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.2</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent
    of Loeb &amp; Loeb LLP (to be included on Exhibit 5.1).**</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt; white-space: nowrap; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form
    of Audit Committee Charter.**</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt; white-space: nowrap; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.2</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form
    of Compensation Committee Charter.**</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt; white-space: nowrap; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.4</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ex99_4.htm">Consent of Dr. Hossein Eslambolchi</A>*</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt; white-space: nowrap; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.5</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ex99_5.htm">Consent of Dr. Kumar Shiralagi</A>*</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt; white-space: nowrap; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.6</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: bottom; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ex99_6.htm">Consent of Mr. Vishant Vora</A>*</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"></P>

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    <TD STYLE="padding-top: 0pt; width: 4%; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">*</FONT></TD>
    <TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Filed
    herewith.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"></P>

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    <TD STYLE="padding-top: 0pt; width: 4%; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">**</FONT></TD>
    <TD STYLE="padding-top: 0pt; font: 10pt Times New Roman, Times, Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">To
    be filed by Amendment.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;&nbsp;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">SIGNATURES</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 24.5pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pursuant
to the requirements of the Securities Act of 1933, as amended, the registrant has duly caused this Registration Statement to be
signed on its behalf by the undersigned, thereunto duly authorized, in the City of Woodcliff Lake, State of New Jersey on the
19th day of February, 2021.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 24.5pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE ALIGN="RIGHT" CELLSPACING="0" CELLPADDING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BANNIX
    ACQUISITION CORP.</B></FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 60%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; vertical-align: top; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; vertical-align: top; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 35%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Subash Menon</FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; vertical-align: top; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subash
    Menon</FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; vertical-align: top; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-top: 0pt; vertical-align: bottom; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman
    and Chief Executive Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 24.5pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 24.5pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pursuant
to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed below by the following
persons in the capacities and on the dates indicated.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 24.5pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 32%; border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name</B></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 46%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Position</B></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 20%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Date</B></FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Subash Menon</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman
    and Chief Executive Officer</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">February
    19, 2021</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subash
    Menon</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Principal
    Executive Officer</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Sudeesh Yezhuvath</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director
    and Chief Operating Officer</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">February
    19, 2021</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sudeesh
    Yezhuvath</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="border-bottom: Black 1.5pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Nicholas Hellyer</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Financial Officer</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">February
    19, 2021</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nicholas
    Hellyer</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Principal
    Financial and Accounting Officer)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">II-7</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; background-color: white"></P>

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{"company-data": {"conformed-name": "Bannix Acquisition Corp.", "cik": "0001845942", "irs-number": "000000000", "state-of-incorporation": "DE"}, "filing-values": {"form-type": "S-1", "act": "33", "file-number": "333-253324", "film-number": "21657327"}, "business-address": {"street1": "300 TICE BLVD", "city": "WOODCLIFF LAKE", "state": "NJ", "zip": "07677", "phone": "2017129800"}, "mail-address": {"street1": "300 TICE BLVD", "city": "WOODCLIFF LAKE", "state": "NJ", "zip": "07677"}}
As
filed with U.S. Securities and Exchange Commission on February 19, 2021.
Registration
No. 333-
UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
S-1
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
BANNIX
ACQUISITION CORP.
(Exact name of Registrant as specified in its charter)
Delaware
6770
86-1626016
(State
    or other jurisdiction of
incorporation or organization)
(Primary
    Standard Industrial
Classification Code Number)
(I.R.S.
    Employer
Identification Number)
300
Tice Boulevard; Suite 315
Woodcliff Lake, New Jersey 07677
Telephone: (201) 712-9800
(Address, including zip code, and telephone number, including area code, of registrant's principal executive offices)
Subash
Menon, Chief Executive Officer
300 Tice Boulevard; Suite 315
Woodcliff
Lake, New Jersey 07677
Telephone: (201) 712-9800
(Name, address, including zip code, and telephone number, including area code, of agent for service)
Copies
to:
Mitchell
    S. Nussbaum
Tahra Wright
Loeb & Loeb LLP
345 Park Ave
New York, New York 10154
Telephone: (212) 407-4000
Facsimile: (212) 207-4880
Bill
                                         Nelson
Alain
        Dermarkar
Shearman
        & Sterling LLP
Bank
        of America Tower
800
        Capital Street, Suite 2200
Houston,
        Texas 77002
Telephone:
        (713) 354-4900
Approximate
date of commencement of proposed sale to the public:
As soon as practicable after the effective date of this registration
statement.
If
any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under
the Securities Act of 1933 check the following box ☐
If
this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please
check the following box and list the Securities Act registration statement number of the earlier effective registration statement
for the same offering. ☐
If
this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list
the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐
If
this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list
the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐
Indicate
by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting
company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer,"
"smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act:
Large accelerated filer
☐
Accelerated filer
☐
Non-accelerated filer
☒
Smaller reporting company
☒
Emerging growth company
☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.
☐
CALCULATION
    OF REGISTRATION FEE
Title
    of Each Class of
Security Being Registered
Amount
    Being Registered
Proposed
    Maximum Offering Price per Security
(1)
Proposed
    Maximum Aggregate Offering Price
(1)
Amount
    of Registration Fee
Units,
    each consisting of one share of common stock, $0.01 par value, and one-half of one redeemable warrant(2)
11,500,000
$
10.00
$
115,000,000
$
12,546.50
Shares of common
    stock included as part of the units(3)
11,500,000
—
—
—
(4)
Redeemable
    warrants included as part of the units(3)
5,750,000
—
—
—
(4)
Representative's
    shares of common stock(3)
287,500
$
10.00
$
2,875,000
$
313.66
Total:
$
117,875,000
$
12,860.16
(1)
Estimated
                                         solely for the purpose of calculating the registration fee.
(2)
Includes
                                         1,500,000 units, consisting of 1,500,000 shares of common stock and 750,000 redeemable
                                         warrants, which may be issued upon exercise of a 30-day option granted to the underwriters
                                         to cover over-allotments, if any.
(3)
Pursuant
                                         to Rule 416, there are also being registered an indeterminable number of additional securities
                                         as may be issued to prevent dilution resulting from stock splits, stock dividends or
                                         similar transactions.
(4)
No
                                         fee pursuant to Rule 457(g).
The
Registrant hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until
the registrant shall file a further amendment which specifically states that this Registration Statement shall thereafter become
effective in accordance with Section 8(a) of the Securities Act of 1933, as amended, or until the Registration Statement shall
become effective on such date as the Securities and Exchange Commission, acting pursuant to said Section 8(a), may determine.
The
information in this prospectus is not complete and may be changed. We may not sell these securities until the registration statement
filed with the Securities and Exchange Commission is effective. This prospectus is not an offer to sell these securities and it
is not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.
PRELIMINARY
    PROSPECTUS
SUBJECT
    TO COMPLETION, DATED FEBRUARY 19, 2021
Bannix
Acquisition Corp.
$100,000,000
10,000,000 Units
Bannix
Acquisition Corp. is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange,
asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, which we refer
to throughout this prospectus as our initial business combination. While we may pursue an initial business combination target
in any business, industry or geographical location, we intend to focus our search on businesses in the customer engagement sector
of telecommunications, retail and financial services. We have not selected any specific business combination target and we have
not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination
target.
This
is an initial public offering of our securities. Each unit has an offering price of $10.00 and consists of one share of our common
stock and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of our common
stock at a price of $11.50 per share, subject to adjustment as described in this prospectus. Only whole warrants are exercisable.
No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Accordingly, unless you
purchase at least two units, you will not be able to receive or trade a whole warrant. The warrants will become exercisable on
the later of 30 days after the completion of our initial business combination and 12 months from the closing of this offering,
and will expire five years after the completion of our initial business combination or earlier upon redemption or liquidation,
as described in this prospectus. We have also granted the underwriters a 30-day option to purchase up to an additional 1,500,000
units to cover over-allotments, if any.
We will
provide our public stockholders with the opportunity to redeem all or a portion of their shares of our common stock upon the completion
of our initial business combination at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the
trust account described below as of two business days prior to the consummation of our initial business combination, including
interest (which interest shall be net of taxes payable) divided by the number of then outstanding shares of common stock that
were sold as part of the units in this offering, which we refer to collectively as our public shares, subject to the limitations
described herein.
We have
18 months from the closing of this offering (or up to 24 months from the closing of this offering if we extend the period of time
to consummate a business combination, as described in more detail in this prospectus) to consummate our initial business combination.
Pursuant to the terms of our amended and restated certificate of incorporation and the trust agreement to be entered into between
us and Continental Stock Transfer & Trust Company, LLC on the date of this prospectus, in order to extend the time available
for us to consummate our initial business combination, our initial stockholders or their affiliates or designees, upon five days
advance notice prior to the applicable deadline, must deposit into the trust account for each three-month extension, $1,000,000,
or $1,150,000 if the underwriters' over-allotment option is exercised in full ($0.10 per share in either case), on or prior
to the date of the applicable deadline. If we are unable to consummate our initial business combination within the above time
period, we will distribute the aggregate amount then on deposit in the trust account, net of taxes payable, and less up to $100,000
of interest to pay liquidation expenses, pro rata to our public stockholders by way of the redemption of their shares and to cease
all operations except for the purposes of winding up of our affairs, as further described herein. In such event, the warrants
will expire and be worthless. If we are unable to complete our business combination within 18 months from the closing of this
offering (or up to 24 months from the closing of this offering if we extend the period of time to consummate a business combination,
as described in more detail in this prospectus), we will redeem 100% of 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 (less up to $100,000 of interest to pay
dissolution expenses and which interest shall be net of taxes payable) divided by the number of then outstanding public shares,
subject to applicable law and as further described herein.
Subash
Menon and Sudeesh Yezhuvath (through their investment entity Bannix Management LLP) and Suresh Yezhuvath, (who we refer to as
the "sponsors" throughout this prospectus), certain funds and accounts managed by ___________ (which we refer to as
the "anchor investor" throughout this prospectus) and I-Bankers Securities, Inc. ("I-Bankers"), the representative
of the underwriters in this offering, have committed to purchase an aggregate of 3,500,000 warrants (3,800,000 warrants if the
underwriters' over-allotment option is exercised) at a price of $1.00 per warrant ($3,500,000 in the aggregate, or $3,800,000
if the underwriters' over-allotment option is exercised in full), in a private placement that will close simultaneously
with the closing of this offering. Of such amount, 1,300,000 warrants will be purchased by our sponsors , 1,000,000 warrants will
be purchased by I-Bankers and, in lieu of I-Bankers acquiring such warrants, such warrants will be issued to our sponsors (such
that
, immediately following the closing of this offering, our sponsors will own
2,300,000 warrants and I-Bankers will own no private placement warrants)
, and 1,200,000 warrants will be purchased
by the anchor investor (or 1,500,000 if the over-allotment is exercised in full). We refer to these warrants throughout this prospectus
as the private placement warrants. The private placement warrants are identical to the warrants sold in this offering except as
otherwise described in this prospectus. Our initial stockholders, which include our sponsors, I-Bankers, and the anchor
investor have purchased or will purchase upon closing of this offering, 2,875,000 shares of common stock (up to 375,000
of which are subject to forfeiture by our sponsors depending on the extent to which the underwriters' over-allotment option
is exercised), which we also refer to as founder shares for an aggregate purchase price of $28,750. Of the founder shares, 2,180,000
were purchased by the sponsors, and each of I-Bankers and the anchor investor will purchase upon closing of this offering 245,000
and 450,000 shares respectively. Upon the closing of this offering, we will issue to I-Bankers (and/or its
designee) will purchase 250,000 shares (or 287,500 shares if the over-allotment option is fully exercised) for nominal
consideration which such shares are referred to as the "representative shares."
Currently,
there is no public market for our units, common stock or warrants. We intend to apply to list our units, common stock and warrants
on The Nasdaq Capital Market, or Nasdaq, under the symbols "__________U," "_______" and "_______W,"
respectively. We expect that our units will be listed on Nasdaq on or promptly after the date of this prospectus. We cannot guarantee
that our securities will be approved for listing on Nasdaq. The common stock and warrants comprising the units will begin separate
trading on the 52nd day following the date of this prospectus (or if such date is not a business day, the following business day)
unless I-Bankers informs us of their decision to allow earlier separate trading, subject to our filing a Current Report on Form
8-K with the Securities and Exchange Commission, or the SEC, containing an audited balance sheet reflecting our receipt of the
gross proceeds of this offering and issuing a press release announcing when such separate trading will begin. At the time that
the common stock and warrants comprising the units begin separate trading, holders will hold the separate securities and no longer
hold units (without any action needing to be taken by the holders), and the units will no longer trade. Once the securities comprising
the units begin separate trading, we expect that the common stock and warrants will be listed on Nasdaq under the symbols "               "
and "               W," respectively.
We
are an "emerging growth company" under applicable federal securities laws and will be subject to reduced public company
reporting requirements. Investing in our securities involves a high degree of risk. See "Risk Factors" beginning on
page 29 for a discussion of information that should be considered in connection with an investment in our securities. Investors
will not be entitled to protections normally afforded to investors in Rule 419 blank check offerings.
Per
    Unit
Total
Public
    offering price
10.00
$
100,000,000
Underwriting
    discounts and commissions(1)(2)
0.20
$
2,000,000
Proceeds,
    before expenses, to us
9.80
$
98,000,000
(1)
The
                                         underwriters will receive compensation in addition to the underwriting discount. See
                                         "Underwriting" for a description of underwriting compensation payable
                                         to the underwriters.
(2)
Includes
                                         $1,000,000 that will be used by I-Bankers to acquire 1,000,000 warrants that will be
                                         issued to our sponsors in lieu of I-Bankers.
Of
the proceeds we receive from this offering and the sale of the private placement warrants described in this prospectus, $100 million
or $115 million if the underwriters' over-allotment option is exercised in full ($10.00 per unit in either case but subject
to increase of up to $0.20 per share in the event that our sponsors elect to extend the period of time), will be deposited into
a trust account with Continental Stock Transfer & Trust Company acting as trustee. Except with respect to interest earned
on the funds in the trust account that are released to us to pay our taxes, if any, these funds will not be released from the
trust account until the earliest of (i) the completion of our initial business combination, (ii) the redemption of any public
shares properly tendered in connection with a stockholder vote to amend our amended and restated certificate of incorporation
(A) to modify the substance or timing of our obligation to redeem 100% of our public shares if we do not complete our initial
business combination within 18 months from the closing of this offering (or up to 24 months from the closing of this offering
if we extend the period of time to consummate a business combination, as described in more detail in this prospectus) or (B) with
respect to any other provision relating to stockholders' rights or pre-business combination activity, and (iii) the redemption
of all of our public shares if we are unable to complete our business combination within 18 months from the closing of this offering
(or up to 24 months from the closing of this offering if we extend the period of time to consummate a business combination, as
described in more detail in this prospectus), subject to applicable law. The proceeds deposited in the trust account could become
subject to the claims of our creditors, if any, which could have priority over the claims of our public stockholders.
The
underwriters are offering the units for sale on a firm commitment basis. The underwriters expect to deliver the units to the purchasers
on or about             , 2021.
Neither
the SEC nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is
truthful or complete. Any representation to the contrary is a criminal offense.
Sole
Book-Running Manager
I-Bankers
Securities, Inc.
,
2021
TABLE
OF CONTENTS
Page
SUMMARY
1
SUMMARY
    FINANCIAL DATA
28
RISK
    FACTORS
29
CAUTIONARY
    NOTE REGARDING FORWARD-LOOKING STATEMENTS
55
USE
    OF PROCEEDS
56
DIVIDEND
    POLICY
58
DILUTION
59
CAPITALIZATION
61
MANAGEMENT'S
    DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
62
PROPOSED
    BUSINESS
67
MANAGEMENT
92
PRINCIPAL
    STOCKHOLDERS
100
CERTAIN
    RELATIONSHIPS AND RELATED PARTY TRANSACTIONS
102
DESCRIPTION
    OF SECURITIES
104
UNITED
    STATES FEDERAL INCOME TAX CONSIDERATIONS
116
UNDERWRITING
123
LEGAL
    MATTERS
130
EXPERTS
130
WHERE
    YOU CAN FIND ADDITIONAL INFORMATION
130
INDEX
    TO FINANCIAL STATEMENTS
F-1
You
should rely only on the information contained in this prospectus. We have not, and the underwriters have not, authorized anyone
to provide you with different information. If anyone provides you with different or inconsistent information, you should not rely
on it. We are not, and the underwriters are not, making an offer to sell securities in any jurisdiction where the offer or sale
is not permitted. You should not assume that the information contained in this prospectus is accurate as of any date other than
the date on the front of this prospectus.
i
SUMMARY
This
summary only highlights the more detailed information appearing elsewhere in this prospectus. As this is a summary, it does not
contain all of the information that you should consider in making an investment decision. You should read this entire prospectus
carefully, including the information under "Risk Factors" and our financial statements and the related notes included
elsewhere in this prospectus, before investing.
Unless
otherwise stated in this prospectus, references to:
●
"B2B"
                                         means business to business and, as used in this prospectus, is used to refer to businesses
                                         that provide products and services to other businesses;
●
"founder
                                         shares" are to shares of our common stock purchased by the initial stockholders
                                         in a private placement prior to this offering;
●
"initial
                                         stockholders" are to holders of our founder shares prior to this offering;
●
"management"
                                         or our "management team" are to our executive officers and directors;
●
"private
                                         placement warrants" are to the warrants issued in a private placement to our sponsors,
                                         the anchor investor and I-Bankers simultaneously with the closing of this offering;
●
"public
                                         shares" are to shares of our common stock sold as part of the units in this offering
                                         (whether they are purchased in this offering or thereafter in the open market);
●
"public
                                         stockholders" are to the holders of our public shares, including our sponsors and
                                         management team to the extent our sponsors and/or members of our management team purchase
                                         public shares, provided that our sponsors' and member of our management team's
                                         status as a "public stockholder" shall only exist with respect to such public
                                         shares;
●
"public
                                         warrants" are to the redeemable warrants sold as part of the units in this offering
                                         (whether they are purchased in this offering or thereafter in the open market) and to
                                         any warrants issued upon conversion of working capital loans that are sold to third parties
                                         that are not our initial stockholders or executive officers or directors (or permitted
                                         transferees) following the consummation of our initial business combination;
●
"sponsors"
                                         are to Subash Menon and Sudeesh Yezhuvath (through their investment entity Bannix Management
                                         LLP) and Suresh Yezhuvath;
●
"warrants"
                                         are to our warrants, which includes the public warrants as well as the private placement
                                         warrants to the extent they are no longer held by the initial purchasers of the private
                                         placement warrants or their permitted transferees; and
●
"we,"
                                         "us," "company" or "our company" are to Bannix Acquisition
                                         Corp., a Delaware corporation.
Each
unit consists of one share of common stock and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof
to purchase one share of our common stock at a price of $11.50 per share, subject to adjustment as described in this prospectus,
and only whole warrants are exercisable.
Unless
we tell you otherwise, the information in this prospectus assumes that the underwriters will not exercise the underwriters'
over-allotment option.
Our
Company
We
are a blank check company formed under the laws of the State of Delaware on January 21, 2021. We were formed for the purpose of
effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one
or more businesses, which we refer to throughout this prospectus as our initial business combination. At the time of preparing
this prospectus, we have not identified any specific business combination, nor has anyone on our behalf initiated or engaged in
any substantive discussions, formal or otherwise, related to such a transaction. Our efforts to date are limited to organizational
activities related to this offering.
1
Although
we are not limited to a particular industry or geographic region for purposes of consummating an initial business combination,
we intend to focus on B2B enterprise software companies, particularly those operating in the Customer Engagement space
within the telecom, retail and financial services sectors. We will target businesses located in North America and Western Europe,
ideally those with a recurring revenue model and an overall transaction value of at least $400 million.
Customer
Engagement is the process of interacting with customers, either enterprise customers or consumers, through a variety of channels
in order to strengthen relationships with them. Today, given the extremely high volume of interactions that take place in real
time, customer engagement solutions utilize artificial intelligence/ machine learning and leverage big data to more effectively
model and understand customer behavior, expectations and preferences. Such solutions drive revenue and better retention by enabling
enterprises to more effectively communicate and interact with their customers through a superior digital experience. Today's
customer engagement solutions cover a wide variety of applications including communication and fulfillment. These are often implemented
in omni-channel engagement models utilizing a variety of modes and touchpoints including customer relations management ("CRM")
platforms, web chat, social media, bots, instant messaging platforms, apps and customer self-service.
The
sponsors of Bannix Acquisition Corp. have particular expertise with B2B2X models ("business to business to X"), where
"X" represents any type of end user, either enterprises or consumers. Having successfully developed customer engagement
solutions for telecom companies operating within a B2B2X paradigm, we believe the current landscape provides for tremendous opportunities
to acquire similar companies across the retail and financial services sectors.
The
customer engagement arena has been growing and evolving at a rapid pace over the past few years. Given its critical importance
to enterprises, we expect the growth of the space to accelerate in years to come. COVID has also accelerated the speed of adoption
of various customer engagement solutions by enterprises due to the increased need to digitally engage with customers. Accordingly,
we expect a large number of private companies to need capital due to attractive acquisition opportunities. In addition, we see
COVID as a long-term catalyst in accelerating the broader adoption of customer engagement solutions.
We intend to employ a proactive acquisition
strategy focused on identifying potential business combination targets in our chosen space. Likely targets will include software
companies operating within the overall customer engagement sector for various industry verticals. We believe strongly in our management
team's ability to add value from both an operating and a financing perspective, which has been a key driver of our past
successes and which we believe will continue to be central to our differentiated acquisition strategy.
Our ideal target company profile:
(1)
Operates
    in the B2B enterprise software arena with a recurring revenue business model
(2)
Provides services to the telecom, financial
    services, or retail sectors
(3)
Utilizes big data analytics technologies,
    advanced artificial intelligence/machine learning algorithms, cloud capabilities, and IoT-friendly infrastructure
We
believe the target universe of enterprise software companies offering Customer Engagement solutions is robust, particularly
due to increasing demands and expectations of both enterprise customers and individual consumers. The below graph shows the strong
projected growth of the Customer Engagement Solutions market.
Global
Customer Engagement Solutions Market
Source:
Mordor Intelligence Report (CUSTOMER ENGAGEMENT SOLUTIONS MARKET - GROWTH, 	TRENDS, AND FORECAST 2020-2025)
2
Our
Management and Business Strategy
We
will seek to create compelling stockholder value by leveraging the track record, strong network, and complementary experience
of our management team and sponsors, which includes experts in nearly all facets of the telecommunications, retail and financial
services sectors and strong expertise in investment management. Highlights of our team include the following:
Subash
Menon, Chief Executive Officer and Chairman of the Board
●
Currently
                                         CEO and Co-founder of Pelatro (LON: PTRO), a Customer Engagement enterprise software
                                         company listed on the Alternative Investment Market ("AIM") and the London
                                         Stock Exchange ("LSE"). Having founded Pelatro in 2013, Mr. Menon
                                         has propelled the growth of the company to its current stage, with
                                         currently approximately 200 employees across five offices and an enterprise customer
                                         base of 21 companies across 17 countries. Mr. Menon  guided Pelatro through
                                         a successful initial public offering ("IPO") on the LSE in 2017.
●
As
former CEO and Founder of Subex Limited, Mr. Menon grew and transformed a start-up into a publicly-traded enterprise
software company
providing digital trust products to communication service providers. At its peak
under Mr. Menon's leadership, Subex had over 1,400 employees across 10 offices and generated over $110 million
in revenue across an enterprise customer base of approximately 200 companies. During Mr. Menon's tenure, Subex achieved
a market cap of approximately $430 million and received the "NASSCOM Innovation Award" from the President of India
.
●
Guided
                                         company through multiple acquisitions in the UK, US and Canada and through a
                                         successful IPO in 1999 in India: National Stock Exchange (NSE: SUBEXLTD) and Bombay
                                         Stock Exchange (BSE: 532348).
●
Financial
                                         instruments of Subex are listed on stock exchanges in London, Luxembourg and Singapore.
●
Degree
                                         in Electrical Engineering with Honors from the prestigious NIT, Durgapur in India and
                                         is a Distinguished Alumnus.
Sudeesh
Yezhuvath, Chief Operating Officer and Director
●
Three
                                         decades of experience in the telecom industry. Areas of expertise include post-merger
                                         integration, sales, marketing, product management, technical operations and human
                                         resources.
●
Currently
                                         COO, Co-Founder and Executive Director of Pelatro, a Customer Engagement enterprise
                                         software company listed on the AIM and the LSE.
●
Former
                                         COO and Member of the Board of Directors at Subex Ltd. At Subex, oversaw Post-Merger
                                         Integration of its many acquisitions including the then-largest cross-border software
                                         product acquisition from India.
●
B.Tech degree from the University of Calicut.
●
Successfully worked together with Mr. Menon for two decades, having built and grown two successful enterprise software companies and navigated them through IPOs.
Nicholos
Hellyer, Chief Financial Officer
●
Currently
                                         Finance Director of Pelatro Plc; responsible for all financial aspects of the IPO process,
                                         including historic reporting and IFRS conversion.
●
Former
                                         Senior Investment Banker at UBS, HSBC, and Opus Corporate Finance; advised small and
                                         midcap companies in a broad range of transactions, including IPOs, fundraisings and mergers
                                         and acquisitions ("M&A") for growth and entrepreneurial companies.
●
Previously
                                         held non-executive director roles in companies quoted on the UK AIM and the Swedish Nasdaq
                                         First North markets.
●
Qualified
                                         as a Chartered Accountant with KPMG
●
B.Sc.
                                         (First Class Honors) in Geography and Geology from Kings College London.
Dr.
Hossein Eslambolchi, Independent Director
●
Chairman
                                         and CEO of CyberFlow Analytics, a cyber-intelligence software-as-a-service ("SaaS")
                                         company, and 2020 Venture Partners, which provides
technology
                                         and operations consulting to Private Equity Firms and Venture Capitalists in
                                         the areas of Telecommunication Infrastructure, Network Intelligence and Information and
                                         Communications Technology ("ICT")
.
●
Director
                                         of Clearwire Corporation from 2010-2013 and is on the Board of Directors for Hyperoffice,
                                         a privately-held enterprise software company offering web collaboration, online
                                         meeting, web conferencing, online database and email marketing applications to the small
                                         and mid-sized business segment
.
3
●
J
oined
                                         AT&T Bell Laboratories in 1986 and rose to become global CTO and CIO, President
                                         and CEO of AT&T Labs and AT&T Global Network Services and was a 16b officer of
                                         the company as of 2001. Served on AT&T's governing Executive Committee.
●
Regarded
                                         in scientific community as expert in IP network design and reliability, security, IP
                                         technologies, services and IP applications. Known for establishing industry
                                         standard business processes such as the  "Concept of One" and the
                                         "Concept of Zero," and the "Concept of None"
which
                                         have been applied effectively to streamline production processes.  Also
known in the industry for the "Eslambolchi Law of Complexity," a unique
                                         model designed to govern telecom protocols.
●
Serves on Board of Advisors to the University of California San Diego School Of Engineering, Allegis Capital VC, SquareZero, RainStor, Prodapt, Tickets48 and PureWave Networks. Dr. Eslambolchi also serves as a member of the Board of Trustees for the Shiraz University School of Medical Sciences in New York City.
●
BS,
                                         MS, Ph.D. and Post Doc degrees in Applied & Astro Physics along with MD in Neurosurgery
                                         with highest honors from University of California San Diego
●
Sample
                                         Achievements:
●
Holds
                                         over 1,000 patents worldwide
●
AT&T
                                         Fellow Award, AT&T's highest technical honor, 1999
●
Thomas
                                         Alva Edison Inventor of the Year Award by the New Jersey Inventors Hall of Fame, 1997
                                         and 2013.
●
Top
                                         100 alumni in the history of the University of California San Diego.
Vishant
Vora, Independent Director
●
Technology
                                         executive with over 30 years of experience in the telecom industry across the Americas,
                                         Europe and Asia.
●
Currently
                                         President of Global Operations and Managed Services at Mavenir (
approx.
                                         $427 million revenue in 2019)
with responsibility for
global
                                         end-to-end business operations including network design, rollout and deployments, solutions
                                         and systems integration services, managed services and related strategic initiatives.
●
Mr.
                                         Vora
led the technological
                                         transformation at Vodafone Romania as the CTO helping to grow the subscriber base over
                                         12 times.
●
Also
a member of the Vodafone
                                         Global Technology Board responsible for the technological direction and strategy for
                                         the Vodafone Group.
●
As
                                         CTO of Vodafone Idea, India, Mr. Vora successfully integrated the networks and
                                         operations of Vodafone and Idea into a global behemoth with over 300 million subscribers.
●
At
                                         Vodafone Idea, India, Mr. Vora oversaw a budget of approximately $4.5 billion
                                         while leading a team of 6,000 people.
●
Awarded
"CTO of the
                                         Year in India" award in 2014.
●
Alumnus
of the Harvard Business
                                         School where he completed the General Management Program in Business Administration.
●
Degree
in Electrical Engineering
                                         from Lawrence Technological University, US.
Dr.
Kumar Shiralagi, Independent Director
●
Investment
                                         advisor in the VC/PE industry since 2003
●
Former
                                         Managing Director at Kalaari Capital Advisors in India. Kalaari manages over $650 million
                                         and has several investments in the business-to-consumer ("B2C") space,
                                         including milkbasket, Zivame and Snapdeal. Previously served as India country
                                         head and Director for Intel Capital's investments in South Asia. Intel Capital
                                         is a fund set up by Intel Corporation, focused on emerging technologies including
                                         cloud computing, artificial intelligence/machine learning, edge computing
                                         and cyber security. Intel Capital past investments include companies such as
                                         Broadcom and RedHat. Dr. Shiralagi served in key roles as an investor and a Board
                                         member for the investments made by Kalaari and Intel Capital.
4
●
Scientist
                                         at Motorola Research Laboratories in the field of high-speed devices, optoelectronics
                                         and nanotechnology and published over 60 papers in reputable journals and has 23 issued
                                         patents.
●
Worked
at Motorola Ventures, the global investment arm of Motorola
Solutions which invests in
mission critical communications, video security & analytics,
and public safety workflow software
.
●
Co-founder
                                         and COO at Lytek Corporation in Phoenix AZ, a manufacturer of surface emitting lasers.
●
MBA
                                         from Thunderbird
●
Bachelors
                                         in Electronics and Communications from National Institute of Technology, Surathkal in
                                         1984; MS and PhD in Electrical Engineering from Arizona State University.
Our
directors and officers have deep relationships within the software industry and within the end user industries like telecommunications,
financial services and retail. This extensive and deep pool of knowledge, experience and expertise will guide the corporation
successfully with respect to all aspects of business like strategy, identification of appropriate targets, acquisition, integration
and operations.
Acquisition
Target Criteria
We
will seek to identify companies that have compelling market presence, growth potential and a combination of the characteristics
listed below. We will use these criteria and guidelines in evaluating acquisition opportunities, but we may decide to enter our
initial business combination with a target business that does not meet these criteria and guidelines. We intend to acquire companies
or assets that we believe have the following attributes:
●
Growth
                                         Potential: high growth history and future trajectory in revenue top line, above industry
                                         average
●
Competitive
                                         Position: Leading or growing market share compared to peer group
●
Management
                                         Team: Talented, highly motivated, experienced with strong execution track record.
●
Profitability
                                         or visible path to profitability: Strong business economics and good operating results
                                         leading to profitability
●
Operational
                                         Efficiency: Possibility to improve through introduction of processes.
These
criteria are not intended to be exhaustive. Any evaluation relating to the merits of a particular initial business combination
may be based, to the extent relevant, on these general guidelines as well as other considerations, factors and criteria that our
management may deem relevant.
Initial
Business Combination
We
will have until 18 months from the closing of this offering to consummate our initial business combination. However, if we
anticipate that we may not be able to consummate our initial business combination within 18 months, we may, by resolution
of our board of directors if requested by our initial stockholders, extend the period of time to consummate a business combination
up to two times, each by an additional three months (for a total of up to 24 months to complete a business combination),
subject to the sponsors depositing additional funds into the trust account as set out below. Pursuant to the terms of our amended
and restated certificate of incorporation and the trust agreement to be entered into between us and Continental Stock Transfer
& Trust Company on the date of this prospectus, in order to extend the time available for us to consummate our initial business
combination, our initial stockholders or their affiliates or designees, upon five days advance notice prior to the applicable
deadline, must deposit into the trust account for each three-month extension, $1,000,000, or $1,150,000 if the underwriters'
over-allotment option is exercised in full ($0.10 per share in either case) on or prior to the date of the applicable deadline,
up to an aggregate of $2,000,000 (or $2,300,000 if the underwriters' over-allotment option is exercised in full), or
approximately $0.20 per share. In the event that we receive notice from our sponsors five days prior to the applicable deadline
of its wish for us to effect an extension, we intend to issue a press release announcing such intention at least three days prior
to the applicable deadline. In addition, we intend to issue a press release the day after the applicable deadline announcing whether
or not the funds had been timely deposited. Our sponsors and its affiliates or designees are not obligated to fund the trust account
to extend the time for us to complete our initial business combination. If we are unable to consummate our initial business combination
within the applicable time period, we will, promptly but not more than ten business days thereafter, redeem the public shares
for a pro rata portion of the funds held in the trust account and promptly 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. In such event, the warrants will
be worthless. Additionally, pursuant to Nasdaq rules, any initial business combination must be approved by a majority of our independent
directors.
5
We
anticipate structuring our initial business combination so that the post-transaction company in which our public stockholders
own shares will own or acquire substantially all of the equity interests or assets of the target business or businesses. We may,
however, structure our initial business combination such that the post-transaction company owns or acquires less than substantially
all of such interests or assets of the target business in order to meet certain objectives of the target management team or stockholders
or for other reasons, but we will only complete such business combination if the post-transaction company owns or acquires
50% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient
for it not to be required to register as an investment company under the Investment Company Act of 1940, as amended (the "Investment
Company Act"). Even if the post-transaction company owns or acquires 50% or more of the voting securities of the target,
our stockholders prior to the initial business combination may collectively own a minority interest in the post-transaction company,
depending on valuations ascribed to the target and us in the business combination transaction. For example, we could pursue a
transaction in which we issue a substantial number of new shares in exchange for all of the outstanding capital stock of shares
or other equity interests. In this case, we would acquire a 100% controlling interest in the target. However, as a result of the
issuance of a substantial number of new shares, our stockholders immediately prior to our initial business combination could own
less than a majority of our outstanding shares subsequent to our initial business combination. If less than 100% of the equity
interests or assets of a target business or businesses are owned or acquired by the post-transaction company, the portion
of such business or businesses that is owned or acquired is what will be valued for purposes of the 80% of net assets test. If
the initial business combination involves more than one target business, the 80% of net assets test will be based on the aggregate
value of all of the target businesses even if the acquisitions of the target businesses are not closed simultaneously.
Although
we believe that the net proceeds of this offering will be sufficient to allow us to consummate a business combination, because
we have not yet identified any prospective target business, we cannot ascertain the capital requirements for any particular transaction.
If the net proceeds of this offering prove to be insufficient, either because of the size of the business combination, the depletion
of the available net proceeds in search of a target business, or because we become obligated to redeem a significant number of
our public shares upon consummation of our initial business combination, we will be required to seek additional financing, in
which case we may issue additional securities or incur debt in connection with such business combination. Furthermore, we may
issue a substantial number of additional ordinary or preferred shares to complete our initial business combination or under an
employee incentive plan upon or after consummation of our initial business combination (although our amended and restated certificate
of incorporation will provide that we may not issue securities that can vote with ordinary stockholders on matters related to
our pre-initial business combination activity). We do not have a maximum debt leverage ratio or a policy with respect to
how much debt we may incur. The amount of debt we will be willing to incur will depend on the facts and circumstances of the proposed
business combination and market conditions at the time of the potential business combination. At this time, we are not party to
any arrangement or understanding with any third party with respect to raising additional funds through the sale of our securities
or the incurrence of debt. Subject to compliance with applicable securities laws, we would only consummate such financing simultaneously
with the consummation of our initial business combination
Nasdaq
rules require that our initial business combination must occur with one or more target businesses that together have an aggregate
fair market value of at least 80% of the assets held in the trust account (excluding advisory fees and taxes payable on the income
earned on the trust account) at the time of the agreement to enter into the initial business combination. If our board of directors
is not able to independently determine the fair market value of the target business or businesses, we will obtain an opinion from
an independent investment banking firm or an independent accounting firm with respect to the satisfaction of such criteria. We
do not intend to purchase multiple businesses in unrelated industries in connection with our initial business combination.
6
Our
Acquisition Process
Our
process starts with a deep analysis of the future needs of the industry that we seek to enter and then crafting an appropriate
strategy to ensure success. On the basis of this strategy, our management team will work with its advisors to identify and prepare
a list of target companies. This list will be expanded with the help of investment bankers who specialize in M&A in our chosen
area. Once the list has been finalized, the investment banker retained by us will be mandated to approach the targets and initiate
discussions. Thus, the approach is not to merely evaluate companies identified by the investment bankers. Rather, it is to identify
those companies that fit our strategy and then to approach them i.e. focused and targeted.
We
believe that conducting comprehensive due diligence on prospective investments is particularly important to achieve a successful
business combination. We will utilize the diligence, rigor, and expertise of available resources of the network of our management
team including the members of our board of directors to evaluate potential targets' strengths, weaknesses, and opportunities
to identify the relative risk and return profile of any potential target for our initial business combination. Given our management
team's extensive experience in evaluating investment opportunities and conducting due diligence, we will often be familiar
with the prospective target's end-market, competitive landscape and business model. We certainly will engage third parties
to assist us when needed.
In
evaluating a prospective target for an initial business combination, we expect to conduct a thorough diligence review that will
encompass, among other things, meetings with incumbent management and employees, document reviews, inspection of facilities, financial
analyses and technology reviews, as well as a review of other information that will be made available to us.
We
are not prohibited from pursuing an initial business combination with a company affiliated with our sponsors, our officers, or
our directors, subject to certain approvals and consents. In the event we seek to complete our initial business combination with
a company that is affiliated with our sponsors, officers or directors, we, or a committee of independent directors, will obtain
an opinion from an independent investment banking firm which is a member of the Financial Industry Regulatory Authority, Inc.
("FINRA") or an independent accounting firm that our initial business combination is fair to us from a financial point
of view.
We
currently do not have any specific targets for an initial business combination selected. Our officers and directors have not contacted
nor had any discussions with possible target businesses in which they directly or indirectly proposed or encouraged a potential
target to consider a possible combination with us. We have not (nor has anyone on our behalf) contacted any prospective target
business or had any discussions, formal or otherwise, with respect to a business combination transaction with any prospective
target business. We have not (nor have any of our agents or affiliates) been approached by any candidates (or representative of
any candidates) with respect to a possible business combination with us.
Each
of our officers and directors presently has, and any of them in the future may have additional, fiduciary or contractual obligations
to other entities pursuant to which such officer or director is or will be required to present a business combination opportunity,
subject to his or her fiduciary duties under Delaware law. Accordingly, if any of our officers or directors becomes aware of a
business combination opportunity which is suitable for an entity to which he or she has then-current fiduciary or contractual
obligations, he or she will honor his or her fiduciary or contractual obligations to present such opportunity to such entity,
subject to his or her fiduciary duties under Delaware law. Our amended and restated certificate of incorporation will provide
that we renounce our interest in any corporate opportunity offered to any director or officer unless such opportunity is expressly
offered to such person solely in his or her capacity as a director or officer of our company and such opportunity is one we are
legally and contractually permitted to undertake and would otherwise be reasonable for us to pursue.
Status
as a public company
We
believe our structure will make us an attractive business combination partner to target businesses. As an existing public company,
we offer a target business an alternative to the traditional initial public offering through a merger or other business combination.
In this situation, the owners of the target business would exchange their shares of stock in the target business for shares of
our stock or for a combination of shares of our stock and cash, allowing us to tailor the consideration to the specific needs
of the sellers. We believe target businesses might find this method a more certain and cost-effective method to becoming a public
company than the typical initial public offering. In a typical initial public offering, there are additional expenses incurred
in marketing, roadshow and public reporting efforts that will likely not be present to the same extent in connection with a business
combination with us. Furthermore, once the business combination is consummated, the target business will have effectively become
public, whereas an initial public offering is always subject to the underwriters' ability to complete the offering, as well
as general market conditions, that could prevent the offering from occurring. Once public, we believe the target business would
then have greater access to capital and an additional means of providing management incentives consistent with stockholders'
interests than it would have as a privately held company. It can offer further benefits by augmenting a company's profile
among potential new customers and vendors and aid in attracting talented employees.
7
While
we believe that our status as a public company will make us an attractive business partner, some potential target businesses may
view the inherent limitations in our status as a blank check company as a deterrent and may prefer to effect a business combination
with a more established entity or with a private company. These inherent limitations include limitations on our available financial
resources, which may be inferior to those of other entities pursuing the acquisition of similar target businesses; the requirement
that we seek stockholder approval of a business combination or conduct a tender offer in relation thereto, which may delay the
consummation of a transaction; and the existence of our outstanding warrants, which may represent a source of future dilution.
Corporate
Information
Our
executive offices are located at 300 Tice Boulevard, Suite 315, Woodcliff Lake, New Jersey 07677, and our telephone number is
(201) 712-9800.
We
are an "emerging growth company," as defined in Section 2(a) of the Securities Act of 1933, as amended, or the Securities
Act, as modified by the Jumpstart Our Business Startups Act of 2012, or the JOBS Act. As such, we are eligible to take advantage
of certain exemptions from various reporting requirements that are applicable to other public companies that are not "emerging
growth companies" including, but not limited to, not being required to comply with the auditor attestation requirements
of Section 404 of the Sarbanes-Oxley Act of 2002, or the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive
compensation in our periodic reports and proxy statements, and exemptions from the requirements of holding a non-binding advisory
vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. If some investors
find our securities less attractive as a result, there may be a less active trading market for our securities and the prices of
our securities may be more volatile.
In
addition, Section 107 of the JOBS Act also provides that an "emerging growth company" can take advantage of the extended
transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards.
In other words, an "emerging growth company" can delay the adoption of certain accounting standards until those standards
would otherwise apply to private companies. We intend to take advantage of the benefits of this extended transition period.
We
will remain an emerging growth company until the earlier of (1) the last day of the fiscal year (a) following the fifth anniversary
of the completion of this offering, (b) in which we have total annual gross revenue of at least $1.07 billion, or (c) in which
we are deemed to be a large accelerated filer, which means the market value of our common stock that is held by non-affiliates
exceeds $700 million as of the prior June 30th, and (2) the date on which we have issued more than $1.00 billion in non-convertible
debt securities during the prior three-year period. References herein to "emerging growth company" shall have the
meaning associated with it in the JOBS Act.
Additionally,
we are a "smaller reporting company" as defined in Rule 10(f)(1) of Regulation S-K. Smaller reporting companies
may take advantage of certain reduced disclosure obligations, including, among other things, providing only two years of audited
financial statements. We will remain a smaller reporting company until the last day of the fiscal year in which (1) the market
value of our common stock held by non-affiliates exceeds $250 million as of the end of the prior June 30
th
,
or (2) our annual revenues exceeded $100 million during such completed fiscal year and the market value of our common
stock held by non-affiliates exceeds $700 million as of the prior June 30
th
.
8
The
Offering
In
making your decision on whether to invest in our securities, you should take into account not only the backgrounds of the members
of our management team, but also the special risks we face as a blank check company and the fact that this offering is not being
conducted in compliance with Rule 419 promulgated under the Securities Act. You will not be entitled to protections normally afforded
to investors in Rule 419 blank check offerings. You should carefully consider these and the other risks set forth in the section
below entitled "Risk Factors."
Securities
    offered
10,000,000
                                         units, at $10.00 per unit, each unit consisting of:
●	    one
        share of common stock; and
●	    one-half
        of one redeemable warrant to purchase one share of common stock.
Proposed
    Nasdaq symbols
Units:
                                         " U"
●	    Common Stock: "             
        "
●	    Warrants: " W"
Trading
    commencement and separation of common stock and warrants
The
    units will begin trading promptly after the date of this prospectus. The common stock and warrants comprising the units will
    begin separate trading on the 52nd day following the date of this prospectus (or if such date is not a business day, the following
    business day) unless I-Bankers informs us of their decision to allow earlier separate trading, subject to our having filed
    the Current Report on Form 8-K described below and having issued a press release announcing when such separate trading will
    begin. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Accordingly,
    unless you purchase at least two units, you will not be able to receive or trade a whole warrant. At the time that the common
    stock and warrants comprising the units begin separate trading, holders will hold the separate securities and no longer hold
    units (without any action needing to be taken by the holders), and the units will no longer trade.
Separate
    trading of the common stock and warrants is prohibited until we have filed a Current Report on Form 8-K
In no event will the common stock and warrants be traded separately until we have filed with the SEC a Current Report on Form
    8-K which includes an audited balance sheet reflecting our receipt of the gross proceeds at the closing of this offering.
    We will file the Current Report on Form 8-K promptly after the closing of this offering, which is anticipated to take place
    three business days from the date of this prospectus. If the underwriters' over-allotment option is exercised following
    the initial filing of such Current Report on Form 8-K, a second or amended Current Report on Form 8-K will be filed to provide
    updated financial information to reflect the exercise of the underwriters' over-allotment option.
9
Units:
Number
    outstanding before this offering
0
Number
    outstanding after this offering
10,000,000 (assuming
    no exercise of the underwriters' over-allotment option)
Common
    stock:
Number
    outstanding before this offering
2,875,000
(1)
Number
    outstanding after this offering
12,750,000
(2)
(assuming no exercise of the underwriters' over-allotment option)
Warrants:
Number
    of warrants outstanding before this offering
0
Number
    of private placement warrants to be sold simultaneously with this offering
3,500,000
Number
    of warrants to be outstanding after this offering and the private placement
8,800,000
(3)
(assuming no exercise of the underwriters' over-allotment option)
Exercisability
Each whole warrant
    offered in this offering is exercisable to purchase one share of our common stock. No fractional warrants will be issued upon
    separation of the units and only whole warrants will trade.
Exercise
    price
$11.50 per share, subject
    to adjustments as described herein. In addition, if (x) we issue additional shares of common stock or equity-linked securities
    for capital raising purposes in connection with the closing of our initial business combination at an issue price or effective
    issue price of less than $9.20 per share of common stock (with such issue price or effective issue price to be determined
    in good faith by our board of directors and, in the case of any such issuance to our initial stockholders or their affiliates,
    without taking into account any founder shares held by such stockholders or their affiliates, as applicable, prior to such
    issuance (the "Newly Issued Price")), (y) the aggregate gross proceeds from such issuances represent more than
    60% of the total equity proceeds, and interest thereon, available for funding our initial business combination (net of redemptions),
    and (z) the volume weighted average trading price of our common stock during the 20 trading day period starting on the trading
    day prior to the day on which we consummate our business combination (such price, the "Market Value") is below
    $9.20 per share, the exercise price shall be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market
    Value and the Newly Issued Price, and the $18.00 per share redemption trigger price described in the section "Redemption
    of warrants" will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly
    Issued Price.
(1)
This
                                         number consists of solely founder shares and includes up to 375,000 shares that are subject
                                         to forfeiture by our sponsors depending on the extent to which the underwriters'
                                         over-allotment option is exercised. Except as otherwise specified, the rest of this prospectus
                                         has been drafted to give effect to the full forfeiture of these 375,000 shares.
10
(2)
Includes
                                         10,000,000 public shares, 2,500,000 founder shares and 250,000 shares to be issued to
                                         the representative of the underwriters upon the closing of this offering.
(3)
Includes
                                         5,000,000 public warrants, 3,500,000 private placement warrants and 300,000 warrants
                                         to be issued to the representative of the underwriters.
Exercise
    period
The
                                         warrants will become exercisable on the later of:
●	    30
        days after the completion of our initial business combination, and
●      12
        months from the closing of this offering;
provided
        in each case that we have an effective registration statement under the Securities Act covering the shares of common stock
        issuable upon exercise of the warrants and a current prospectus relating to them is available (or we permit holders to
        exercise their warrants on a cashless basis under the circumstances specified in the warrant agreement).
We
        are not registering the shares of 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 30 business days after the closing of our initial business combination,
        we will use our reasonable best efforts to file, and within 90 business days after the closing of our initial business
        combination, to have declared effective, a registration statement relating to those shares of common stock, and to maintain
        a current prospectus relating to such shares of common stock until the warrants expire or are redeemed. Notwithstanding
        the foregoing, if a registration statement covering the shares of common stock issuable upon exercise of the warrants
        is not effective within the above specified period following the consummation of our initial business combination, warrant
        holders may, until such time as there is an effective registration statement and during any period when we shall have
        failed to maintain an effective registration statement, exercise warrants on a cashless basis pursuant to the exemption
        provided by Section 3(a)(9) of the Securities Act of 1933, as amended, or the Securities Act, provided that such exemption
        is available. If that exemption, or another exemption, is not available, holders will not be able to exercise their warrants
        on a cashless basis.
The
        warrants will expire at 5:00 p.m., New York City time, five years after the completion of our initial business combination
        or earlier upon redemption or liquidation. On the exercise of any warrant, the warrant exercise price will be paid directly
        to us and not placed in the trust account.
11
Redemption
                                         of warrants
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, which we refer to as the 30-day redemption period; and
●    	if,
        and only if, the last sale price of our common stock equals or exceeds $18.00 per share for any 20 trading days within
        a 30-trading day period ending on the third trading day prior to the date on which we send the notice of redemption to
        the warrant holders.
We
        will not redeem the warrants unless an effective registration statement under the Securities Act covering the shares of
        common stock issuable upon exercise of the warrants is effective and a current prospectus relating to those shares of
        common stock is available throughout the 30-day redemption period, except if the warrants may be exercised on a cashless
        basis and such cashless exercise is exempt from registration under the Securities Act. We may not redeem the warrants
        when a holder may not exercise such warrants.
If
        we call the warrants for redemption as described above, our management will have the option to require all holders that
        wish to exercise warrants to do so on a "cashless basis." In determining whether to require all holders to
        exercise their warrants on a "cashless basis," our management will consider, among other factors, our cash
        position, the number of warrants that are outstanding and the dilutive effect on our stockholders of issuing the maximum
        number of shares of common stock issuable upon the exercise of our warrants. In such event, each holder would pay the
        exercise price by surrendering the warrants for that number of shares of common stock equal to the quotient obtained by
        dividing (x) the product of the number of shares of common stock underlying the warrants, multiplied by the difference
        between the exercise price of the warrants and the "fair market value" (defined below) by (y) the fair market
        value. The "fair market value" shall mean the average reported last sale price of the common stock for the
        10 trading days ending on the third trading day prior to the date on which the notice of redemption is sent to the holders
        of warrants. Please see the section entitled "Description of Securities — Warrants — Public Stockholders'
        Warrants" for additional information.
None
        of the private placement warrants will be redeemable by us so long as they are held by the initial purchasers of the private
        placement warrants or their permitted transferees.
12
Founder
                                         shares
Our
                                         initial stockholders have purchased or will purchase upon closing of this
                                         offering 2,875,000 founder shares for an aggregate purchase price of $28,750 (up
                                         to 375,000 of which are subject to forfeiture). Prior to our receipt of any proceeds
                                         related to the initial investment in the company of $28,750, we had no assets, tangible
                                         or intangible.
If
        we increase or decrease the size of this offering, we will effect a stock dividend or share contribution back to capital
        or other appropriate mechanism, as applicable, with respect to our common stock immediately prior to the consummation
        of this offering in such amount as to maintain the ownership of founder shares by our initial stockholders at 20% of our
        issued and outstanding shares of our common stock upon the consummation of this offering (excluding the representative's
        shares). Up to 375,000 founder shares held by our sponsors are subject to forfeiture depending on the extent to which
        the underwriters' over-allotment option is exercised.
The
        founder shares are identical to the shares of common stock included in the units being sold in this offering, except that:
●	    the
        founder shares are subject to certain transfer restrictions, as described in more detail below,
●	    our
        sponsors, officers and directors have entered into a letter agreement with us, pursuant to which they have agreed (i)
        to waive their redemption rights with respect to their founder shares and public shares in connection with the completion
        of our initial business combination and (ii) to waive their rights to liquidating distributions from the trust account
        with respect to their founder shares if we fail to complete our initial business combination within 18 months from the
        closing of this offering (or up to 24 months from the closing of this offering if we extend the period of time to consummate
        a business combination, as described in more detail in this prospectus), 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 business combination
        within the prescribed time frame). Our sponsors, officers and directors have agreed to vote their founder shares and any
        public shares purchased during or after this offering in favor of our initial business combination. As a result, in addition
        to the founder shares held by our sponsors, we would need 3,875,001 shares, or 38.75%, of the 10,000,000
        public shares sold in this offering to be voted in favor of a transaction (assuming all outstanding shares are voted)
        in order to have our initial business combination approved (assuming the underwriters' over-allotment option is
        not exercised). Furthermore, assuming only the minimum number of stockholders required to be present at the stockholders'
        meeting held to approve our initial business combination are present at such meeting, we would need only 687,502 shares
        of the 10,000,000 public shares, or approximately 5.39% of the shares sold as part of the units in this offering,
        to be voted in favor of our initial business combination in order to have such transaction approved (assuming the underwriters'
        over-allotment option is not exercised). In addition, in the event that our board of directors amends our bylaws to reduce
        the number of shares required to be present at a meeting of our stockholders, we would need even fewer public shares to
        be voted in favor of our initial business combination to have such transaction approved; and
●	    the
        founder shares are subject to registration rights.
13
Transfer
                                         restrictions on founder shares
Our
                                         initial stockholders have agreed not to transfer, assign or sell any of their founder
                                         shares until the earlier to occur of: (A) one year after the completion of our initial
                                         business combination or (B) the date on which we complete a liquidation, merger, stock
                                         exchange or other similar transaction after our initial business combination that results
                                         in all of our public stockholders having the right to exchange their shares of common
                                         stock for cash, securities or other property (except as described herein under "Principal
                                         Stockholders — Transfers of Founder Shares. Private Placement Warrants and Underlying
                                         Securities"). We refer to such transfer restrictions throughout this prospectus
                                         as the "lock-up".
Notwithstanding
        the foregoing, if the last sale price of our 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, the founder shares will be released from the lock-up.
Private
                                         placement warrants
Our
                                         sponsors, I-Banker and the anchor investor have committed to purchase an aggregate of
                                         3,500,000 warrants (or 3,800,000 warrants if the underwriters' over-allotment option
                                         is exercised in full) at a price of $1.00 per warrant ($3,500,000 in the aggregate, or
                                         $3,800,000 if the underwriters' over-allotment option is exercised in full) in
                                         a private placement that will close simultaneously with the closing of this offering.
                                         Of such amount, 1,300,000 warrants will be purchased by our sponsors, 1,000,000 warrants
                                         will be purchased by I-Bankers and, in lieu of I-Bankers acquiring such warrants,
                                         such warrants will be issued to our sponsors (such that, immediately following the closing
                                         of this offering, our sponsors will own 2,300,000 private placement warrants and I-Bankers will own no
                                         private placement warrants), and 1,200,000 warrants will be purchased by the anchor
                                         investor (or 1,500,000 if the over-allotment is exercised in full).
The
        purchase price of the private placement warrants will be added to the proceeds from this offering to be held in the trust
        account. If we do not complete our initial business combination within 18 months from the closing of this offering (or
        up to 24 months from the closing of this offering if we extend the period of time to consummate a business combination,
        as described in more detail in this prospectus), the proceeds from the sale of the private placement warrants held in
        the trust will be used to fund the redemption of our public shares (subject to the requirements of applicable law) and
        the private placement warrants will expire worthless. The private placement warrants are identical to the warrants included
        in the units sold in this offering, except that the private placement warrants: (i) will not be redeemable by us and (ii)
        may be exercised for cash or on a cashless basis, as described in this prospectus, in each case so long as they are held
        by the initial purchasers or any of their permitted transferees. If the private placement warrants are held by holders
        other than the initial purchasers or any of their 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 this offering.
14
Cashless
                                         exercise of private placement warrants
If
    holders of private placement warrants elect to exercise them on a cashless basis, they would pay the exercise price by surrendering
    their warrants for that number of shares of common stock equal to the quotient obtained by dividing (x) the product of the
    number of shares of common stock underlying the warrants, multiplied by the difference between the exercise price of the warrants
    and the "fair market value" (defined below) by (y) the fair market value. The "fair market value"
    shall mean the average reported last sale price of the common stock for the 10 trading days ending on the third trading day
    prior to the date on which the notice of warrant exercise is sent to the warrant agent.
Proceeds
                                         to be held in trust account
The
                                         rules of Nasdaq provide that at least 90% of the gross proceeds from this offering and
                                         the private placement be deposited in a trust account. Of the $103.5 million in gross
                                         proceeds we will receive from this offering and the sale of the private placement warrants
                                         described in this prospectus, or $118.8 million if the underwriters' over-allotment
                                         option is exercised in full, $100 million ($10.00 per unit), or $115 million ($10.00
                                         per unit) if the underwriters' over-allotment option is exercised in full, will
                                         be deposited into a segregated trust account located in the United States with Continental
                                         Stock Transfer & Trust Company acting as trustee (subject to increase of up to an
                                         additional approximately $0.20 per share in the event that our sponsors elects to extend
                                         the period of time to consummate a business combination, as described in more detail
                                         in this prospectus), and $3,500,000 (or $3,800,000 if the underwriters' over-allotment
                                         option is exercised in full), will be used to pay expenses in connection with the closing
                                         of this offering (including underwriter discounts and commissions) and for working capital
                                         following this offering.
Pursuant
        to the business combination marketing agreement we will enter into with I-Bankers in connection with this offering, I-Bankers
        will provide marketing services in connection with our initial business combination and will receive compensation for
        such services equal to 2.75% of the gross proceeds of this offering.
Except
        with respect to interest earned on the funds held in the trust account that may be released to us to pay our taxes, if
        any, the proceeds from this offering will not be released from the trust account until the earliest of (i) the completion
        of our initial business combination, (ii) the redemption of any public shares properly tendered in connection with a stockholder
        vote to amend our amended and restated certificate of incorporation (A) to modify the substance or timing of our obligation
        to redeem 100% of our public shares if we do not complete our initial business combination within the required time period
        or (B) with respect to any other provision relating to stockholders' rights or pre-business combination activity,
        and (iii) the redemption of all of our public shares if we are unable to complete our business combination within the
        required time period, subject to applicable law. The proceeds deposited in the trust account could become subject to the
        claims of our creditors, if any, which could have priority over the claims of our public stockholders.
15
Ability
                                         to extend time to complete business combination
If
                                         we anticipate that we may not be able to consummate our initial business combination
                                         within 18 months, we may, by resolution of our board of directors if requested by our
                                         sponsors, extend the period of time to consummate a business combination up to two times,
                                         each by an additional three months (for a total of up to 24 months to complete a business
                                         combination), subject to the sponsors depositing additional funds into the trust account
                                         as set out below. Pursuant to the terms of our amended and restated certificate of incorporation
                                         and the trust agreement to be entered into between us and Continental Stock Transfer
                                         & Trust Company, LLC on the date of this prospectus, in order to extend the time
                                         available for us to consummate our initial business combination, our initial stockholders
                                         or their affiliates or designees, upon five days advance notice prior to the applicable
                                         deadline, must deposit into the trust account for each three-month extension, $1,000,000,
                                         or $1,150,000 if the underwriters' over-allotment option is exercised in full ($0.10
                                         per share in either case) on or prior to the date of the applicable deadline, up to an
                                         aggregate of $2,000,000 (or $2,300,000 if the underwriters' over-allotment option
                                         is exercised in full), or approximately $0.20 per share. Any such payments would be made
                                         in the form of a loan. The terms of the promissory note to be issued in connection with
                                         any such loans have not yet been negotiated. If we complete our initial business combination,
                                         we would repay such loaned amounts out of the proceeds of the trust account released
                                         to us. If we do not complete a business combination, we will not repay such loans. Furthermore,
                                         the letter agreement with our initial stockholders contains a provision pursuant to which
                                         our sponsors has agreed to waive its right to be repaid for such loans in the event that
                                         we do not complete a business combination. Our sponsors and their affiliates or designees
                                         are not obligated to fund the trust account to extend the time for us to complete our
                                         initial business combination.
Anticipated
                                         expenses and funding sources
Unless
    and until we complete our initial business combination, no proceeds held in the trust account will be available for our use,
    except the withdrawal of interest to pay taxes. Unless and until we complete our initial business combination, we may pay
    our expenses only from the net proceeds of this offering and the sale of the private placement warrants not held in the trust
    account, which will be approximately $500,000 in working capital after the payment of expenses relating to this offering.
    Additionally, in order to meet our working capital needs following the consummation of this offering if the funds available
    to us are insufficient, our initial stockholders may, but are not obligated to, loan us funds, from time to time or at any
    time, in whatever amount they deem reasonable in their sole discretion. Each loan would be evidenced by a promissory note.
    The notes would either be paid upon consummation of our initial business combination, without interest, or, at the holder's
    discretion, up to $1,500,000 of the notes may be converted into private placement warrants at a price of $1.00 per warrant.
    In the event that the initial business combination does not close, we may use a portion of the working capital held outside
    the trust account to repay such loaned amounts, but no other proceeds from our trust account would be used for such repayment.
16
Conditions
                                         to completing our initial business combination
There
                                         is no limitation on our ability to raise funds privately or through loans in connection
                                         with our initial business combination (although our amended and restated certificate
                                         of incorporation will provide that we may not issue securities that can vote with common
                                         stockholders on matters related to our pre-business combination activity). The Nasdaq
                                         rules require that our initial business combination must be with one or more target businesses
                                         that together have an aggregate fair market value equal to at least 80% of the value
                                         of the assets held in the trust account (excluding taxes payable on the interest earned
                                         on the trust account) at the time of our signing a definitive agreement in connection
                                         with our initial business combination. We will be required to comply with such rule so
                                         long as we obtain and maintain a listing for our securities on Nasdaq. We do not intend
                                         to purchase multiple businesses in unrelated industries in conjunction with our initial
                                         business combination.
If
        our board of directors is not able to independently determine the fair market value of the target business or businesses,
        we will obtain an opinion from an independent investment banking firm that is a member of FINRA, or from an independent
        accounting firm. Additionally, pursuant to Nasdaq rules, any initial business combination must be approved by a majority
        of our independent directors. We will complete our initial business combination only if the post-transaction company in
        which our public stockholders own shares will own or acquire 50% or more of the outstanding voting securities of the target
        or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment
        company under the Investment Company Act. Even if the post-transaction company owns or acquires 50% or more of the voting
        securities of the target, our stockholders prior to the business combination may collectively own a minority interest
        in the post-transaction company, depending on valuations ascribed to the target and us in the business combination transaction.
        If less than 100% of the equity interests or assets of a target business or businesses are owned or acquired by the post-transaction
        company, the portion of such business or businesses that is owned or acquired is what will be valued for purposes of the
        80% of net assets test, provided that in the event that the business combination involves more than one target business,
        the 80% of net assets test will be based on the aggregate value of all of the target businesses.
Permitted
                                         purchases of public shares by our affiliates
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 initial stockholders, directors, executive officers, advisors or their
                                         affiliates may purchase shares in privately negotiated transactions or in the open market
                                         either prior to or following the completion of our initial business combination. However,
                                         other than as expressly stated herein, they have no current commitments, plans or intentions
                                         to engage in such transactions and have not formulated any terms or conditions for any
                                         such transactions. None of the funds in the trust account will be used to purchase shares
                                         in such transactions. If they engage in such transactions, they will not make any such
                                         purchases when they are in possession of any material non-public information not disclosed
                                         to the seller or if such purchases are prohibited by Regulation M under the Exchange
                                         Act.
17
We
    do not currently anticipate that such purchases, if any, would constitute a tender offer subject to the tender offer rules
    under the Exchange Act or a going-private transaction subject to the going-private rules under the Exchange Act; however,
    if the purchasers determine at the time of any such purchases that the purchases are subject to such rules, the purchasers
    will comply with such rules. Our initial stockholders, directors, executive officers, advisors or their affiliates will not
    make any purchases if the purchases would violate Section 9(a)(2) or Rule 10b-5 of the Exchange Act.
Redemption
                                         rights for public stockholders upon completion of our initial business combination
We
    will provide our public stockholders with the opportunity to redeem all or a portion of their public shares upon the completion
    of our initial business combination at a per-share price, payable in cash, equal to the aggregate amount then on deposit in
    the trust account as of two business days prior to the consummation of our initial business combination, including interest
    (which interest shall be net of taxes payable) divided by the number of then outstanding public shares, subject to the limitations
    described herein. The amount in the trust account is initially anticipated to be $10.00 per public share, subject to increase
    of up to an additional approximately $0.20 per ordinary share in the event that our sponsors elect to extend the period of
    time to consummate a business combination, as described in more detail in this prospectus. The per share amount we will distribute
    to investors who properly redeem their shares will not be reduced by the fee payable to I-Bankers pursuant to the business
    combination marketing agreement. See the section entitled "Underwriting — Business Combination Marketing Agreement."
    There will be no redemption rights upon the completion of our initial business combination with respect to our warrants. Our
    sponsors, officers and directors have entered into a letter agreement with us, pursuant to which they have agreed to waive
    their redemption rights with respect to their founder shares and any public shares they may acquire after this offering in
    connection with the completion of our business combination, 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
    the prescribed time frame.
18
Manner
                                         of conducting redemptions
We
                                         will provide our public stockholders with the opportunity to redeem all or a portion
                                         of their public shares upon the completion of our initial business combination either
                                         (i) in connection with a stockholder meeting called to approve the business combination
                                         or (ii) by means of a tender offer. The decision as to whether we will seek stockholder
                                         approval of a proposed business combination or conduct a tender offer will be made by
                                         us, solely in our discretion, and will be based on a variety of factors such as the timing
                                         of the transaction and whether the terms of the transaction would require us to seek
                                         stockholder approval under the law or stock exchange listing requirement. Under Nasdaq
                                         rules, asset acquisitions and stock purchases would not typically require stockholder
                                         approval while direct mergers with our company where we do not survive and any transactions
                                         where we issue more than 20% of our outstanding common stock or seek to amend our amended
                                         and restated certificate of incorporation would require stockholder approval. We may
                                         conduct redemptions without a stockholder vote pursuant to the tender offer rules of
                                         the SEC unless stockholder approval is required by law or stock exchange listing requirement
                                         or we choose to seek stockholder approval for business or other legal reasons. So long
                                         as we obtain and maintain a listing for our securities on Nasdaq, we would be required
                                         to comply with such rules.
If
        a stockholder vote is not required and we do not decide to hold a stockholder vote for business or other legal reasons,
        we will, pursuant to our amended and restated certificate of incorporation:
●    	conduct
        the redemptions pursuant to Rule 13e-4 and Regulation 14E of the Exchange Act, which regulate issuer tender offers, and
●	    file
        tender offer documents with the SEC prior to completing our initial business combination which contain substantially the
        same financial and other information about the initial business combination and the redemption rights as is required under
        Regulation 14A of the Exchange Act, which regulates the solicitation of proxies.
Upon
        the public announcement of our business combination, if we elect to conduct redemptions pursuant to the tender offer rules,
        we or our initial stockholders will terminate any plan established in accordance with Rule 10b5-1 to purchase shares of
        our common stock in the open market, in order to comply with Rule 14e-5 under the Exchange Act.
In
        the event we conduct redemptions pursuant to the tender offer rules, our offer to redeem will remain open for at least
        20 business days, in accordance with Rule 14e-1(a) under the Exchange Act, and we will not be permitted to complete our
        initial business combination until the expiration of the tender offer period. In addition, the tender offer will be conditioned
        on public stockholders not tendering more than a specified number of public shares, which number will be based on the
        requirement that we may not redeem public shares in an amount that would cause our net tangible assets to be less than
        $5,000,001 both immediately before and after the consummation of our initial business combination (so that we are not
        subject to the SEC's "penny stock" rules) or any greater net tangible asset or cash requirement which
        may be contained in the agreement relating to our initial business combination. If public stockholders tender more shares
        than we have offered to purchase, we will withdraw the tender offer and not complete the initial business combination.
19
If,
                                         however, stockholder approval of the transaction is required by law or stock exchange
                                         listing requirement, or we decide to obtain stockholder approval for business or other
                                         legal reasons, we will:
●	    conduct
                                         the redemptions in conjunction with a proxy solicitation pursuant to Regulation 14A of
                                         the Exchange Act, which regulates the solicitation of proxies, and not pursuant to the
                                         tender offer rules, and
●	    file
                                         proxy materials with the SEC.
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
                                         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. Our sponsors, officers and directors will count towards
                                         this quorum and have agreed to vote their founder shares and any public shares purchased
                                         during or after this offering in favor of our initial business combination. These quorum
                                         and voting thresholds, and the voting agreements of our sponsors, officers and directors
                                         may make it more likely that we will consummate our initial business combination. Each
                                         public stockholder may elect to redeem its public shares irrespective of whether they
                                         vote for or against the proposed transaction.
Our
                                         amended and restated certificate of incorporation will provide that in no event will
                                         we redeem our public shares in an amount that would cause our net tangible assets to
                                         be less than $5,000,001 both immediately before and after the consummation of our initial
                                         business combination (so that we are not subject to the SEC's "penny stock"
                                         rules). Redemptions of our public shares may also be subject to a higher net tangible
                                         asset test or cash requirement pursuant to an agreement relating to our initial business
                                         combination. For example, the proposed business combination may require: (i) cash consideration
                                         to be paid to the target or its owners, (ii) cash to be transferred to the target for
                                         working capital or other general corporate purposes or (iii) the retention of cash to
                                         satisfy other conditions in accordance with the terms of the proposed business combination.
                                         In the event the aggregate cash consideration we would be required to pay for all shares
                                         of common stock that are validly submitted for redemption plus any amount required to
                                         satisfy cash conditions pursuant to the terms of the proposed business combination exceed
                                         the aggregate amount of cash available to us, we will not complete the business combination
                                         or redeem any shares, and all shares of common stock submitted for redemption will be
                                         returned to the holders thereof.
20
Limitation
                                         on redemption rights of stockholders holding 15% or more of the shares sold in this offering
                                         if we hold stockholder vote
Notwithstanding
    the foregoing redemption rights, if we seek stockholder approval of our initial business combination and we do not conduct
    redemptions in connection with our business combination pursuant to the tender offer rules, our amended and restated certificate
    of incorporation will provide 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 an aggregate of 15% or more of the shares sold in this offering.
    We believe the restriction described above will discourage stockholders from accumulating large blocks of shares, and subsequent
    attempts by such holders to use their ability to redeem their shares as a means to force us, our sponsors or our management
    to purchase their shares at a significant premium to the then-current market price or on other undesirable terms. Absent this
    provision, a public stockholder holding an aggregate of 15% or more of the shares sold in this offering could threaten to
    exercise its redemption rights against a business combination if such holder's shares are not purchased by us, our sponsors
    or our management at a premium to the then-current market price or on other undesirable terms. By limiting our stockholders'
    ability to redeem to less than 15% of the shares sold in this offering, we believe we will limit the ability of a small group
    of stockholders to unreasonably attempt to block our ability to complete our business combination, particularly in connection
    with a business combination with a target that requires as a closing condition that we have a minimum net worth or a certain
    amount of cash. However, we would not be restricting our stockholders' ability to vote all of their shares (including
    all shares held by those stockholders that hold 15% or more of the shares sold in this offering) for or against our business
    combination.
Redemption
                                         rights in connection with proposed amendments to our certificate of incorporation
Some
    other blank check companies have a provision in their charter which prohibits the amendment of certain charter provisions.
    Our amended and restated certificate of incorporation will provide that any of its provisions related to pre-business combination
    activity (including the requirement to deposit proceeds of this offering and the private placement of warrants into the trust
    account and not release such amounts except in specified circumstances, and to provide redemption rights to public stockholders
    as described herein) may be amended if approved by holders of 65% of our common stock, and corresponding provisions of the
    trust agreement governing the release of funds from our trust account may be amended if approved by holders of 65% of our
    common stock. In all other instances, our amended and restated certificate of incorporation will provide that it may be amended
    by holders of a majority of our common stock, subject to applicable provisions of the Delaware General Corporation Law, or
    DGCL, or applicable stock exchange rules. Our initial stockholders, who will collectively beneficially own 20.0% of our common
    stock upon the closing of this offering (excluding the Representative's shares and assuming they do not purchase any
    units in this offering), will participate in any vote to amend our amended and restated certificate of incorporation and/or
    trust agreement and will have the discretion to vote in any manner they choose. Our sponsors, executive officers and directors
    have agreed, pursuant to a written agreement with us, that they will not propose any amendment to our amended and restated
    certificate of incorporation (i) to modify the substance or timing of our obligation to redeem 100% of our public shares if
    we do not complete our initial business combination within 18 months (or up to 24 months from the closing of this offering
    if we extend the period of time to consummate a business combination, as described in more detail in this prospectus) from
    the closing of this offering or (ii) with respect to any other provision relating to stockholders' rights or pre-business
    combination activity, unless we provide our public stockholders with the opportunity to redeem their shares of common stock
    upon approval of any such amendment at a per-share price, payable in cash, equal to the aggregate amount then on deposit in
    the trust account, including interest (which interest shall be net of taxes payable) divided by the number of then outstanding
    public shares. Our sponsors, officers and directors have entered into a letter agreement with us, pursuant to which they have
    agreed to waive their redemption rights with respect to their founder shares and public shares in connection with the completion
    of our initial business combination, 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 the prescribed time
    frame.
21
Release
                                         of funds in trust account on closing of our initial business combination
On
                                         the completion of our initial business combination, all amounts held in the trust account
                                         will be released to us, other than the funds that the trustee will use to pay amounts
                                         due to any public stockholders who exercise their redemption rights as described above
                                         under "Redemption rights for public stockholders upon completion of our initial
                                         business combination." We will use the remaining funds to pay I-Bankers the fee
                                         payable under the business combination marketing agreement described under the heading
                                         "Underwriting — Business Combination Marketing Agreement," and to pay
                                         all or a portion of the consideration payable to the target or owners of the target of
                                         our initial business combination and to pay other expenses associated with our initial
                                         business combination.
If
        our initial business combination is paid for using equity or debt securities, or not all of the funds released from the
        trust account are used for payment of the consideration in connection with our initial business combination, we may apply
        the balance of the cash released to us from the trust account for general corporate purposes, including for maintenance
        or expansion of operations of post-transaction businesses, the payment of principal or interest due on indebtedness incurred
        in completing our initial business combination, to fund the purchase of other companies or for working capital.
Redemption
                                         of public shares and distribution and liquidation if no initial business combination
We
                                         will have only 18 months (or up to 24 months from the closing of this offering if we
                                         extend the period of time to consummate a business combination, as described in more
                                         detail in this prospectus) from the closing of this offering to complete our initial
                                         business combination. If we are unable to complete our initial business combination within
                                         such period, we will: (i) cease all operations except for the purpose of winding up,
                                         (ii) as promptly as reasonably possible but not more than ten business days thereafter,
                                         redeem the public shares, at a per-share price, payable in cash, equal to the aggregate
                                         amount then on deposit in the trust account, including interest (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 liquidation 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. There will be no redemption rights or liquidating
                                         distributions with respect to our warrants, which will expire worthless if we fail to
                                         complete our business combination within the 18-month time period (or up to 24 months
                                         from the closing of this offering if we extend the period of time to consummate a business
                                         combination, as described in more detail in this prospectus).
22
Our
                                         initial stockholders have waived their rights to liquidating distributions from the trust
                                         account with respect to their founder shares if we fail to complete our initial business
                                         combination within 18 months (or up to 24 months from the closing of this offering if
                                         we extend the period of time to consummate a business combination, as described in more
                                         detail in this prospectus) from the closing of this offering. However, if our initial
                                         stockholders acquire public shares after this offering, they will be entitled to liquidating
                                         distributions from the trust account with respect to such public shares if we fail to
                                         complete our initial business combination within the allotted 18-month (or up to 24 months
                                         from the closing of this offering if we extend the period of time to consummate a business
                                         combination, as described in more detail in this prospectus) time frame.
The
                                         underwriters will not receive any of their marketing fee pursuant to the business combination
                                         marketing agreement that is held in the trust account in the event we do not complete
                                         our initial business combination.
Our
sponsors, executive officers and directors have agreed, pursuant to a written agreement with us, that they will not propose any
amendment to our amended and restated certificate of incorporation (i) to modify the substance or timing of our obligation to
redeem 100% of our public shares if we do not complete our initial business combination within 18 months (or up to 24 months from
the closing of this offering if we extend the period of time to consummate a business combination, as described in more detail
in this prospectus) from the closing of this offering or (ii) with respect to any other provision relating to stockholders'
rights or pre-business combination activity, unless we provide our public stockholders with the opportunity to redeem their shares
of common stock upon approval of any such amendment at a per-share price, payable in cash, equal to the aggregate amount then
on deposit in the trust account, including interest (which interest shall be net of taxes payable) divided by the number of then
outstanding public shares. However, we may not redeem our public shares in an amount that would cause our net tangible assets
to be less than $5,000,001 both immediately before and after the consummation of our initial business combination (so that we
are not subject to the SEC's "penny stock" rules).
23
Limited
                                         payments to insiders
There
                                         will be no finder's fees, reimbursements, non-cash payments or cash payments made
                                         to our sponsors, officers and directors, or their affiliates, for services rendered to
                                         us prior to or in connection with the completion of our initial business combination,
                                         other than the following payments, none of which will be made from the proceeds of this
                                         offering held in the trust account prior to the completion of our initial business combination:
●	    Repayment
        of related party loans outstanding in the amount of $27,963 as of February 9, 2021 and an additional amount of $35 for
        an expense paid by a sponsor on our behalf;
●	    Repayment
        of an aggregate of up to $300,000 as a promissory note made, or to be made, to us by our sponsors to be used for
        a portion of the expenses of this offering;
●	    Payment
        to an affiliate of one of our officers of $5,000 per month for office space, utilities, secretarial support and other
        administrative and consulting services;
●	    Reimbursement
        for any out-of-pocket expenses related to identifying, investigating and completing an initial business combination; and
●	    Repayment
        of loans which may be made by our initial stockholders or their affiliates to finance transaction costs in connection
        with an intended initial business combination, the terms of which have not been determined nor have any written agreements
        been executed with respect thereto. Up to $1,500,000 of such loans may be convertible into private placement warrants
        at a price of $1.00 per warrant.
Upon
        the closing of this offering, we will engage I-Bankers as an advisor in connection with our business combination to assist
        us in holding meetings with our stockholders to discuss the potential business combination and the target business'
        attributes, introduce us to potential investors that are interested in purchasing our securities in connection with the
        potential business combination, assist us in obtaining stockholder approval for the business combination and assist us
        with our press releases and public filings in connection with the business combination. We will pay I-Bankers a cash fee
        for such services immediately before or after the consummation of our initial business combination in an amount equal
        to, in the aggregate, 3.5% of the gross proceeds of this offering, including any proceeds from the full or partial exercise
        of the over-allotment option.
Our
        audit committee will review on a quarterly basis all payments that were made to our sponsors, officers or directors, or
        our or their affiliates.
Audit
                                         Committee
Prior
    to the effectiveness of this registration statement, we will have established and will maintain an audit committee to, among
    other things, monitor compliance with the terms described above and the other terms relating to this offering. If any noncompliance
    is identified, then the audit committee will be charged with the responsibility to immediately take all action necessary to
    rectify such noncompliance or otherwise to cause compliance with the terms of this offering. For more information, see the
    section entitled "Management — Committees of the Board of Directors — Audit Committee."
24
Conflicts
                                         of Interest
Each
    of our officers and directors presently has, and any of them in the future may have additional, fiduciary or contractual obligations
    to another entity pursuant to which such officer or director is or will be required to present a business combination opportunity
    to such entity. Accordingly, if any of our officers or directors becomes aware of a business combination opportunity which
    is suitable for an entity to which he or she has then-current fiduciary or contractual obligations, he or she will honor these
    obligations to present such business combination opportunity to such entity, and only present it to us if such entity rejects
    the opportunity. We do not believe, however, that the fiduciary duties or contractual obligations of our officers or directors
    will materially affect our ability to complete our business combination. Our amended and restated certificate of incorporation
    will provide that we renounce our interest in any corporate opportunity offered to any director or officer unless such opportunity
    is expressly offered to such person solely in his or her capacity as a director or officer of our company and such opportunity
    is one we are legally and contractually permitted to undertake and would otherwise be reasonable for us to pursue.
Indemnity
Our
                                         sponsors have agreed that it will be liable to us if and to the extent any claims by
                                         a vendor for services rendered or products sold to us, or a prospective target business
                                         with which we have discussed entering into a transaction agreement, reduce the amount
                                         of funds in the trust account to below (i) $10.00 per public share or (ii) such lesser
                                         amount per public share held in the trust account as of the date of the liquidation of
                                         the trust account due to reductions in the value of the trust assets, in each case net
                                         of the interest which may be released to us to pay taxes, except as to any claims by
                                         a third party who executed a waiver of any and all rights to seek access to the trust
                                         account and except as to any claims under indemnity of the underwriters of this offering
                                         against certain liabilities, including liabilities under the Securities Act. Moreover,
                                         in the event that an executed waiver is deemed to be unenforceable against a third party,
                                         our sponsors will not be responsible to the extent of any liability for such third party
                                         claims.
We
        have not asked our sponsors to reserve for such indemnification obligations, and our sponsors' only assets are securities
        of our company. Therefore, we cannot assure you that our sponsors would be able to satisfy those obligations. We believe
        the likelihood of our sponsors having to indemnify the trust account is limited because we will endeavor to have all vendors
        and prospective target businesses as well as other entities execute agreements with us waiving any right, title, interest
        or claim of any kind in or to monies held in the trust account.
25
Risks
We
are a newly formed company that has conducted no operations and has generated no revenues. Until we complete our initial business
combination, we will have no operations and will generate no operating revenues. In making your decision whether to invest in
our securities, you should take into account not only the background of our management team, but also the special risks we face
as a blank check company. This offering is not being conducted in compliance with Rule 419 promulgated under the Securities Act.
Accordingly, you will not be entitled to protections normally afforded to investors in Rule 419 blank check offerings. For additional
information concerning how Rule 419 blank check offerings differ from this offering, please see "Proposed Business —
Comparison of This Offering to Those of Blank Check Companies Subject to Rule 419." You should carefully consider these
and the other risks set forth in the section entitled "Risk Factors."
Summary
of Risk Factors
An
investment in our securities involves a high degree of risk. The occurrence of one or more of the events or circumstances described
in the section titled "Risk Factors," alone or in combination with other events or circumstances, may materially adversely
affect our business, financial condition and operating results. In that event, the trading price of our securities could decline,
and you could lose all or part of your investment. Such risks include, but are not limited to:
●
Our
                                         independent registered public accounting firm's report contains an explanatory
                                         paragraph that expresses substantial doubt about our ability to continue as a "going
                                         concern."
●
Our
                                         public stockholders may not be afforded an opportunity to vote on our proposed initial
                                         business combination, and even if we hold a vote, holders of our founder shares will
                                         participate in such vote, which means we may complete our initial business combination
                                         even though a majority of our public stockholders do not support such a combination.
●
If
                                         we seek stockholder approval of our initial business combination, our sponsors, officers
                                         and directors have agreed to vote in favor of such initial business combination, regardless
                                         of how our public stockholders vote.
●
Your
                                         only opportunity to affect the investment decision regarding a potential business combination
                                         may be limited to the exercise of your right to redeem your shares from us for cash,
                                         unless we seek stockholder approval of the business combination.
●
The
                                         ability of our public stockholders to redeem their shares for cash may make our financial
                                         condition unattractive to potential business combination targets, which may make it difficult
                                         for us to enter into a business combination with a target.
●
The
                                         ability of our public stockholders to exercise redemption rights with respect to a large
                                         number of our shares may not allow us to complete the most desirable business combination
                                         or optimize our capital structure.
●
The
                                         ability of our public stockholders to exercise redemption rights with respect to a large
                                         number of our shares could increase the probability that our initial business combination
                                         would be unsuccessful and that you would have to wait for liquidation in order to redeem
                                         your stock.
●
The
                                         requirement that we complete our initial business combination within the prescribed time
                                         frame may give potential target businesses leverage over us in negotiating a business
                                         combination and may decrease our ability to conduct due diligence on potential business
                                         combination targets as we approach our dissolution deadline, which could undermine our
                                         ability to complete our business combination on terms that would produce value for our
                                         stockholders.
●
We
                                         may not be able to complete our initial business combination within the prescribed time
                                         frame, in which case we would cease all operations except for the purpose of winding
                                         up and we would redeem our public shares and liquidate.
26
●
If
                                         a stockholder fails to receive notice of our offer to redeem our public shares in connection
                                         with our business combination, or fails to comply with the procedures for tendering its
                                         shares, such shares may not be redeemed.
●
If
                                         we seek stockholder approval of our initial business combination and we do not conduct
                                         redemptions pursuant to the tender offer rules, and if you or a "group" of
                                         stockholders are deemed to hold 15% or more of our common stock, you will lose the ability
                                         to redeem all such shares equal to or in excess of 15% of our common stock.
●
We
                                         are not required to obtain an opinion from an independent investment banking firm or
                                         from an independent accounting firm, and consequently, you may have no assurance from
                                         an independent source that the price we are paying for the business is fair to our company
                                         from a financial point of view.
●
We
                                         may engage in a business combination with one or more target businesses that have relationships
                                         with entities that may be affiliated with our sponsors, executive officers and directors
                                         which may raise potential conflicts of interest.
●
We
                                         will likely only be able to complete one business combination with the proceeds of this
                                         offering and the sale of the private placement warrants, which will cause us to be solely
                                         dependent on a single business which may have a limited number of products or services.
                                         This lack of diversification may negatively impact our operations and profitability.
●
Our
                                         executive officers and directors will allocate their time to other businesses thereby
                                         causing conflicts of interest in their determination as to how much time to devote to
                                         our affairs. This conflict of interest could have a negative impact on our ability to
                                         complete our initial business combination.
●
Certain
                                         of our executive officers and directors are now, and all of them may in the future become,
                                         affiliated with entities engaged in business activities similar to those intended to
                                         be conducted by us following our initial business combination and, accordingly, may have
                                         conflicts of interest in determining to which entity a particular business opportunity
                                         should be presented.
●
Since
                                         our initial stockholders, including our sponsors, executive officers and directors, will
                                         lose their entire investment in us if our initial business combination is not completed,
                                         a conflict of interest may arise in determining whether a particular business combination
                                         target is appropriate for our initial business combination.
●
Because
                                         each unit contains one-half of one redeemable warrant and only a whole warrant may be
                                         exercised, the units may be worth less than units of other blank check companies.
●
We
                                         are not registering the shares of common stock issuable upon exercise of the warrants
                                         under the Securities Act or any state securities laws at this time, and such registration
                                         may not be in place when an investor desires to exercise warrants, thus precluding such
                                         investor from being able to exercise its warrants except on a cashless basis and potentially
                                         causing such warrants to expire worthless.
●
Our
                                         initial stockholders paid an aggregate of $28,750, or approximately $0.01 per founder
                                         share, and, accordingly, you will experience immediate and substantial dilution from
                                         the purchase of our common stock.
●
Provisions
                                         in our amended and restated certificate of incorporation and Delaware law may have the
                                         effect of discouraging lawsuits against our directors and officers.
27
SUMMARY
FINANCIAL DATA
The
following table summarizes the relevant financial data for our business and should be read with our financial statements, which
are included in this prospectus. We have not had any significant operations to date, so only balance sheet data is presented.
February
    9, 2021, 2021
Balance
    Sheet Data:
Actual
As
    Adjusted
Working
    capital (deficiency)
(1)
$
(15,576
)
$
100,531,167
Total assets
(1)
$
75,908
$
100,531,167
Total
    liabilities
$
47,241
$
0
Value
    of common stock that may be redeemed in connection with our initial business combination ($10.00 per share)
(2)
$
—
$
95,531,160
Total
    stockholders' equity
(3)
$
28,667
$
5,000,007
(1)
The
                                         "as adjusted" calculation assumes no exercise of the over-allotment option
                                         and includes $100,000,000 cash held in trust from the proceeds of this offering and the
                                         sale of the private placement warrants, plus $500,000 in cash held outside the trust
                                         account.
(2)
The
                                         "as adjusted" calculation assumes no exercise of the over-allotment option
                                         and equals the "as adjusted" total assets, less the "as adjusted"
                                         total liabilities, less the "as adjusted" stockholders' equity, which
                                         is set to approximate the minimum net tangible assets threshold of at least $5,000,001.
(3)
Assumes
                                         no exercise of the over-allotment option. The "as adjusted" calculation equals
                                         the "as adjusted" total assets, less the "as adjusted" total
                                         liabilities, less the value of shares of common stock that may be redeemed in connection
                                         with our initial business combination (approximately $10.00 per share).
The
"as adjusted" information gives effect to the sale of the units in this offering, the sale of the private placement
warrants and the payment of the estimated expenses of this offering. The "as adjusted" total assets amount includes
the $100,000,000 held in the trust account if the underwriters' over-allotment option is not exercised) for the benefit
of our public stockholders, which amount will be available to us only upon the completion of our initial business combination
within the time period described in this prospectus.
If
no business combination is completed within 18 months (or up to 24 months from the closing of this offering if we extend the period
of time to consummate a business combination, as described in more detail in this prospectus) from the closing of this offering,
the proceeds 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) will be used to fund the redemption of our public shares. Our initial stockholders
have agreed to waive their rights to liquidating distributions from the trust account with respect to their founder shares if
we fail to complete our initial business combination within such 18-month (or up to 24-month) time period.
28
RISK
FACTORS
An
investment in our securities involves a high degree of risk. You should consider carefully all of the risks described below, together
with the other information contained in this prospectus, before making a decision to invest in our units. If any of the following
events occur, our business, financial condition and operating results may be materially adversely affected. In that event, the
trading price of our securities could decline, and you could lose all or part of your investment.
Risks
Relating to Our Search For, Consummation of, or Inability to Consummate, a Business Combination
Our
independent registered public accounting firm's report contains an explanatory paragraph that expresses substantial doubt
about our ability to continue as a "going concern."
As
of February 9, 2021, we had $19,665 of cash and a working capital deficiency of $(15,576). Further, we have incurred and
expect to continue to incur significant costs in pursuit of our acquisition plans. Management's plans to address this need
for capital through this offering are discussed in the section of this prospectus titled "Management's Discussion
and Analysis of Financial Condition and Results of Operations." Our plans to raise capital and to consummate our initial
business combination may not be successful. These factors, among others, raise substantial doubt about our ability to continue
as a going concern. The financial statements contained elsewhere in this prospectus do not include any adjustments that might
result from our inability to consummate this offering or our inability to continue as a going concern.
Our
public stockholders may not be afforded an opportunity to vote on our proposed initial business combination, and even if we hold
a vote, holders of our founder shares will participate in such vote, which means we may complete our initial business combination
even though a majority of our public stockholders do not support such a combination.
We
may not hold a stockholder vote to approve our initial business combination unless the business combination would require stockholder
approval under applicable state law or the rules of Nasdaq or if we decide to hold a stockholder vote for business or other reasons.
For instance, the Nasdaq rules currently allow us to engage in a tender offer in lieu of a stockholder meeting but would still
require us to obtain stockholder approval if we were seeking to issue more than 20% of our outstanding shares to a target business
as consideration in any business combination. Therefore, if we were structuring a business combination that required us to issue
more than 20% of our outstanding shares, we would seek stockholder approval of such business combination. However, except for
as required by law, the decision as to whether we will seek stockholder approval of a proposed business combination or will allow
stockholders to sell their shares to us in a tender offer will be made by us, solely in our discretion, and will be based on a
variety of factors, such as the timing of the transaction and whether the terms of the transaction would otherwise require us
to seek stockholder approval. Even if we seek stockholder approval, the holders of our founder shares will participate in the
vote on such approval. Accordingly, we may consummate our initial business combination even if holders of a majority of the outstanding
public shares of our common stock do not approve of the business combination we consummate. Please see the section entitled "Proposed
Business — Stockholders May Not Have the Ability to Approve Our Initial Business Combination" for additional information.
If
we seek stockholder approval of our initial business combination, our sponsors, officers and directors have agreed to vote in
favor of such initial business combination, regardless of how our public stockholders vote.
Unlike
many other blank check companies in which the initial stockholders agree to vote their founder shares in accordance with the majority
of the votes cast by the public stockholders in connection with an initial business combination, our sponsors, officers and directors
have agreed to vote their founder shares, as well as any public shares purchased during or after this offering, in favor of our
initial business combination. Our sponsors, officers and directors will own ____% of our outstanding shares of common stock immediately
following the completion of this offering. As a result, in addition to the founder shares, we would need 3,875,001, or
38.75%, of the 10,000,000 public shares sold in this offering to be voted in favor of a transaction (assuming all
outstanding shares are voted) in order to have our initial business combination approved (assuming the underwriters' over-allotment
option is not exercised). Furthermore, assuming only the minimum number of stockholders required to be present at the stockholders'
meeting held to approve our initial business combination are present at such meeting, we would need only 687,502 of the
10,000,000 public shares, or approximately 5.39% of the shares sold as part of the units in this offering, to be voted
in favor of our initial business combination in order to have such transaction approved (assuming the underwriters' over-allotment
option is not exercised). In addition, in the event that our board of directors amends our bylaws to reduce the number of shares
required to be present at a meeting of our stockholders, we would need even fewer public shares to be voted in favor of our initial
business combination to have such transaction approved.
29
Accordingly,
if we seek stockholder approval of our initial business combination, it is more likely that the necessary stockholder approval
will be received than would be the case if our initial stockholders agreed to vote their shares in accordance with the majority
of the votes cast by our public stockholders.
Your
only opportunity to affect the investment decision regarding a potential business combination may be limited to the exercise of
your right to redeem your shares from us for cash, unless we seek stockholder approval of the business combination.
At
the time of your investment in us, you may not be provided with an opportunity to evaluate the specific merits or risks of one
or more target businesses. Since our board of directors may complete a business combination without seeking stockholder approval,
public stockholders may not have the right or opportunity to vote on the business combination, unless we seek such stockholder
vote. Accordingly, if we do not seek stockholder approval, your only opportunity to affect the investment decision regarding a
potential business combination may be limited to exercising your redemption rights within the period of time (which will be at
least 20 business days) set forth in our tender offer documents mailed to our public stockholders in which we describe our initial
business combination.
The
ability of our public stockholders to redeem their shares for cash may make our financial condition unattractive to potential
business combination targets, which may make it difficult for us to enter into a business combination with a target.
We
may seek to enter into a business combination transaction agreement with a prospective target that requires as a closing condition
that we have a minimum net worth or a certain amount of cash. If too many public stockholders exercise their redemption rights,
we would not be able to meet such closing condition and, as a result, would not be able to proceed with the business combination.
Furthermore, in no event will we redeem our public shares in an amount that would cause our net tangible assets to be less than
$5,000,001 both immediately before and after the consummation of our initial business combination (so that we are not subject
to the SEC's "penny stock" rules) or any greater net tangible asset or cash requirement which may be contained
in the agreement relating to our initial business combination. Consequently, if accepting all properly submitted redemption requests
would cause our net tangible assets to be less than $5,000,001 both immediately before and after the consummation of our initial
business combination or such greater amount necessary to satisfy a closing condition as described above, we would not proceed
with such redemption and the related business combination and may instead search for an alternate business combination. Prospective
targets will be aware of these risks and, thus, may be reluctant to enter into a business combination transaction with us.
The
ability of our public stockholders to exercise redemption rights with respect to a large number of our shares may not allow us
to complete the most desirable business combination or optimize our capital structure.
At
the time we enter into an agreement for our initial business combination, we will not know how many stockholders may exercise
their redemption rights, and therefore will need to structure the transaction based on our expectations as to the number of shares
that will be submitted for redemption. If our business combination agreement requires us to use a portion of the cash in the trust
account to pay the purchase price, or requires us to have a minimum amount of cash at closing, we will need to reserve a portion
of the cash in the trust account to meet such requirements, or arrange for third party financing. In addition, if a larger number
of shares is submitted for redemption than we initially expected, we may need to restructure the transaction to reserve a greater
portion of the cash in the trust account or arrange for third party financing. Raising additional third party financing may involve
dilutive equity issuances or the incurrence of indebtedness at higher than desirable levels. The amount of the fee payable to I-Bankers pursuant
to the terms of the business combination marketing agreement will not be adjusted for any shares that are redeemed in connection
with an initial business combination. The above considerations may limit our ability to complete the most desirable business combination
available to us or optimize our capital structure, or may incentivize us to structure a transaction whereby we issue shares to
new investors and not to sellers of target businesses.
30
The
ability of our public stockholders to exercise redemption rights with respect to a large number of our shares could increase the
probability that our initial business combination would be unsuccessful and that you would have to wait for liquidation in order
to redeem your stock.
If
our initial business combination agreement requires us to use a portion of the cash in the trust account to pay the purchase price,
or requires us to have a minimum amount of cash at closing, the probability that our initial business combination would be unsuccessful
is increased. If our initial business combination is unsuccessful, you would not receive your pro rata portion of the trust account
until we liquidate the trust account. If you are in need of immediate liquidity, you could attempt to sell your stock in the open
market; however, at such time our stock may trade at a discount to the pro rata amount per share in the trust account. In either
situation, you may suffer a material loss on your investment or lose the benefit of funds expected in connection with our redemption
until we liquidate or you are able to sell your stock in the open market.
The
requirement that we complete our initial business combination within the prescribed time frame may give potential target businesses
leverage over us in negotiating a business combination and may decrease our ability to conduct due diligence on potential business
combination targets as we approach our dissolution deadline, which could undermine our ability to complete our business combination
on terms that would produce value for our stockholders.
Any
potential target business with which we enter into negotiations concerning a business combination will be aware that we must complete
our initial business combination within 18 months from the closing of this offering. Consequently, such target business may obtain
leverage over us in negotiating a business combination, knowing that if we do not complete our initial business combination with
that particular target business, we may be unable to complete our initial business combination with any target business. This
risk will increase as we get closer to the timeframe described above. In addition, we may have limited time to conduct due diligence
and may enter into our initial business combination on terms that we would have rejected upon a more comprehensive investigation.
Our
sponsors may decide not to extend the term we have to consummate our initial business combination, in which case we would cease
all operations except for the purpose of winding up and we would redeem our public shares and liquidate, and the warrants will
be worthless.
We
will have until 18 months from the closing of this offering to consummate our initial business combination. However, if we anticipate
that we may not be able to consummate our initial business combination within 18 months, we may, by resolution of our board of
directors if requested by our sponsors, extend the period of time to consummate a business combination up to two times, each by
an additional three months (for a total of up to 24 months to complete a business combination), subject to the sponsors depositing
additional funds into the trust account as set out below. In order for the time available for us to consummate our initial business
combination to be extended, our sponsors or their affiliates or designees must deposit into the trust account for each three month
extension $1,000,000 or $1,150,000 if the underwriters' over-allotment option is exercised in full ($0.10 per share in either
case) on or prior to the date of the applicable deadline, up to an aggregate of $2,000,000 (or $2,300,000 if the underwriters'
over-allotment option is exercised in full), or approximately $0.20 per share. Any such payments would be made in the form of
a loan. The terms of the promissory note to be issued in connection with any such loans have not yet been negotiated. Consequently,
such loans might not be made on the terms described in this prospectus. Our sponsors and their affiliates or designees are not
obligated to fund the trust account to extend the time for us to complete our initial business combination. If we are unable to
consummate our initial business combination within the applicable time period, we will, promptly redeem the public shares for
a pro rata portion of the funds held in the trust account and promptly 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. In such event, the rights and warrants will
be worthless.
31
We
may not be able to complete our initial business combination within the prescribed time frame, in which case we would cease all
operations except for the purpose of winding up and we would redeem our public shares and liquidate.
We
must complete our initial business combination within 18 months from the closing of this offering (or up to 24 months from the
closing of this offering if we extend the period of time to consummate a business combination, as described in more detail in
this prospectus). We may not be able to find a suitable target business and complete our initial business combination within such
time period. If we have not completed our initial business combination within such time period, we will: (i) cease all operations
except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter,
redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the
trust account, including interest (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 liquidation 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.
If
we seek stockholder approval of our initial business combination, our initial stockholders, directors, executive officers, advisors
and their affiliates may elect to purchase shares from public stockholders, which may influence a vote on a proposed business
combination and reduce the public "float" of our common stock.
If
we seek stockholder approval of our initial business combination and we do not conduct redemptions in connection with our business
combination pursuant to the tender offer rules, our initial stockholders, directors, executive officers, advisors or their affiliates
may purchase shares in privately negotiated transactions or in the open market either prior to or following the completion of
our initial business combination, although they are under no obligation to do so. Such a purchase may include a contractual acknowledgement
that such stockholder, although still the record holder of our shares is no longer the beneficial owner thereof and therefore
agrees not to exercise its redemption rights. In the event that our initial stockholders, directors, executive officers, advisors
or their affiliates purchase shares in privately negotiated transactions from public stockholders who have already elected to
exercise their redemption rights, such selling stockholders would be required to revoke their prior elections to redeem their
shares. The purpose of such purchases could be to vote such shares in favor of the business combination and thereby increase the
likelihood of obtaining stockholder approval of the business combination or to satisfy a closing condition in an agreement with
a target that requires us to have a minimum net worth or a certain amount of cash at the closing of our business combination,
where it appears that such requirement would otherwise not be met. This may result in the completion of a business combination
that may not otherwise have been possible.
In
addition, if such purchases are made, the public "float" of our common stock and the number of beneficial holders
of our securities may be reduced, possibly making it difficult to maintain or obtain the quotation, listing or trading of our
securities on a national securities exchange.
If
a stockholder fails to receive notice of our offer to redeem our public shares in connection with our business combination, or
fails to comply with the procedures for tendering its shares, such shares may not be redeemed.
We
will comply with the tender offer rules or proxy rules, as applicable, when conducting redemptions in connection with our business
combination. Despite our compliance with these rules, if a stockholder fails to receive our tender offer or proxy materials, as
applicable, such stockholder may not become aware of the opportunity to redeem its shares. In addition, the tender offer documents
or proxy materials, as applicable, that we will furnish to holders of our public shares in connection with our initial business
combination will describe the various procedures that must be complied with in order to validly tender or redeem public shares.
In the event that a stockholder fails to comply with these procedures, its shares may not be redeemed. See "Proposed Business —
Business Strategy — Tendering stock certificates in connection with a tender offer or redemption rights."
32
You
will not be entitled to protections normally afforded to investors of many other blank check companies.
Since
the net proceeds of this offering and the sale of the private placement warrants are intended to be used to complete an initial
business combination with a target business that has not been identified, we may be deemed to be a "blank check" company
under the United States securities laws. However, because we will have net tangible assets in excess of $5,000,000 upon the successful
completion of this offering and the sale of the private placement warrants and will file a Current Report on Form 8-K, including
an audited balance sheet demonstrating this fact, we are exempt from rules promulgated by the SEC to protect investors in blank
check companies, such as Rule 419. Accordingly, investors will not be afforded the benefits or protections of those rules. Among
other things, this means our units sold in this offering will be immediately tradable and we will have a longer period of time
to complete our business combination than do companies subject to Rule 419. Moreover, if this offering were subject to Rule 419,
that rule would prohibit the release of any interest earned on funds held in the trust account to us unless and until the funds
in the trust account were released to us in connection with our completion of an initial business combination. For a more detailed
comparison of our offering to offerings that comply with Rule 419, please see "Proposed Business — Comparison of This
Offering to Those of Blank Check Companies Subject to Rule 419."
If
we seek stockholder approval of our initial business combination and we do not conduct redemptions pursuant to the tender offer
rules, and if you or a "group" of stockholders are deemed to hold 15% or more of our common stock, you will lose the
ability to redeem all such shares equal to or in excess of 15% of our common stock.
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 will provide 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 seeking
redemption rights with respect to an aggregate of 15% or more of the shares sold in this 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 business combination. Your inability to redeem the Excess Shares will reduce your influence over our
ability to complete our business combination and you could suffer a material loss on your investment in us if you sell Excess
Shares in open market transactions. Additionally, you will not receive redemption distributions with respect to the Excess Shares
if we complete our business combination. And as a result, you will continue to hold that number of shares equal to or exceeding
15% and, in order to dispose of such shares, would be required to sell your stock in open market transactions, potentially at
a loss.
Because
of our limited resources and the significant competition for business combination opportunities, it may be more difficult for
us to complete our initial business combination. If we are unable to complete our initial business combination, our public stockholders
may receive only approximately $10.00 per share, on our redemption, and our warrants will expire worthless.
We
expect to encounter intense competition from other entities having a business objective similar to ours, including private investors
(which may be individuals or investment partnerships), other blank check companies and other entities, domestic and international,
competing for the types of businesses we intend to acquire. Many of these individuals and entities are well-established and have
extensive experience in identifying and effecting, directly or indirectly, acquisitions of companies operating in or providing
services to various industries. Many of these competitors possess greater technical, human and other resources or more local industry
knowledge than we do and our financial resources will be relatively limited when contrasted with those of many of these competitors.
While we believe there are numerous target businesses we could potentially acquire with the net proceeds of this offering and
the sale of the private placement warrants, our ability to compete with respect to the acquisition of certain target businesses
that are sizable will be limited by our available financial resources. This inherent competitive limitation gives others an advantage
in pursuing the acquisition of certain target businesses. Furthermore, if we are obligated to pay cash for the shares of common
stock redeemed and, in the event we seek stockholder approval of our business combination, we make purchases of our common stock,
the resources available to us for our initial business combination will potentially be reduced. Any of these obligations may place
us at a competitive disadvantage in successfully negotiating a business combination. If we are unable to complete our initial
business combination, our public stockholders may receive only approximately $10.00 per share on the liquidation of our trust
account and our warrants will expire worthless.
33
If
the net proceeds of this offering and the sale of the private placement warrants not being held in the trust account are insufficient
to allow us to operate for at least 18 months following the closing of this offering, we may be unable to complete our initial
business combination.
The
funds available to us outside of the trust account may not be sufficient to allow us to operate for at least 18 months (or up
to 24 months from the closing of this offering if we extend the period of time to consummate a business combination, as described
in more detail in this prospectus) following the closing of this offering, assuming that our initial business combination is not
completed during that time. Of the funds available to us, we could use a portion of the funds available to us to pay fees to consultants
to assist us with our search for a target business. We could also use a portion of the funds as a down payment or to fund a "no-shop" provision
(a provision in letters of intent designed to keep target businesses from "shopping" around for transactions with
other companies on terms more favorable to such target businesses) with respect to a particular proposed business combination,
although we do not have any current intention to do so. If we entered into a letter of intent where we paid for the right to receive
exclusivity from a target business and were subsequently required to forfeit such funds (whether as a result of our breach or
otherwise), we might not have sufficient funds to continue searching for, or conduct due diligence with respect to, a target business.
If we are unable to complete our initial business combination, our public stockholders may receive only approximately $10.00 per
share on the liquidation of our trust account and our warrants will expire worthless.
If
the net proceeds of this offering and the sale of the private placement warrants not being held in the trust account are insufficient,
it could limit the amount available to fund our search for a target business or businesses and complete our initial business combination
and we will depend on loans from our initial stockholders or management team to fund our search, to pay our taxes and to complete
our business combination.
Of
the net proceeds of this offering and the sale of the private placement warrants, only approximately $500,000 will be available
to us initially outside the trust account to fund our working capital requirements. In the event that our offering expenses exceed
our estimate of $500,000, we may fund such excess with funds not to be held in the trust account. In such case, the amount of
funds we intend to be held outside the trust account would decrease by a corresponding amount. Conversely, in the event that the
offering expenses are less than our estimate, the amount of funds we intend to be held outside the trust account would increase
by a corresponding amount. If we are required to seek additional capital, we would need to borrow funds from our initial stockholders,
management team or other third parties to operate or may be forced to liquidate. None of our initial stockholders, members of
our management team or any of their affiliates is under any obligation to advance funds to us in such circumstances. Any such
advances would be repaid only from funds held outside the trust account or from funds released to us upon completion of our initial
business combination. Up to $1,500,000 of such working capital loans may be convertible into private placement-equivalent 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 of the underlying warrants. We do not expect to seek loans
from parties other than our initial stockholders or an affiliate of our initial stockholders as we do not believe third parties
will be willing to loan such funds and provide a waiver against any and all rights to seek access to funds in our trust account.
If we are unable to complete our initial business combination because we do not have sufficient funds available to us, we will
be forced to cease operations and liquidate the trust account.
Consequently,
our public stockholders may only receive approximately $10.00 per share on our redemption of our public shares, and our warrants
will expire worthless.
We
may seek acquisition opportunities in companies that may be outside of our management's areas of expertise.
We
will consider a business combination outside of our management's areas of expertise if a business combination candidate
is presented to us and we determine that such candidate offers an attractive acquisition opportunity for our company. In the event
we elect to pursue an acquisition outside of the areas of our management's expertise, our management's expertise may
not be directly applicable to its evaluation or operation, and the information contained in this prospectus regarding the areas
of our management's expertise would not be relevant to an understanding of the business that we elect to acquire. As a result,
our management may not be able to adequately ascertain or assess all of the significant risk factors. Accordingly, any stockholders
who choose to remain stockholders following our business combination could suffer a reduction in the value of their shares. Such
stockholders are unlikely to have a remedy for such reduction in value unless they are able to successfully claim that the reduction
was due to the breach by our officers or directors of a duty of care or other fiduciary duty owed to them, or if they are able
to successfully bring a private claim under securities laws that the tender offer materials or proxy statement relating to the
business combination contained an actionable material misstatement or material omission.
34
Although
we have identified general criteria and guidelines that we believe are important in evaluating prospective target businesses,
we may enter into our initial business combination with a target that does not meet such criteria and guidelines, and as a result,
the target business with which we enter into our initial business combination may not have attributes entirely consistent with
our general criteria and guidelines.
Although
we have identified general criteria and guidelines for evaluating prospective target businesses, it is possible that a target
business with which we enter into our initial business combination will not have all of these positive attributes. If we complete
our initial business combination with a target that does not meet some or all of these guidelines, such combination may not be
as successful as a combination with a business that does meet all of our general criteria and guidelines. In addition, if we announce
a prospective business combination with a target that does not meet our general criteria and guidelines, a greater number of stockholders
may exercise their redemption rights, which may make it difficult for us to meet any closing condition with a target business
that requires us to have a minimum net worth or a certain amount of cash. In addition, if stockholder approval of the transaction
is required by law, or we decide to obtain stockholder approval for business or other legal reasons, it may be more difficult
for us to attain stockholder approval of our initial business combination if the target business does not meet our general criteria
and guidelines. If we are unable to complete our initial business combination, our public stockholders may receive only approximately
$10.00 per share on the liquidation of our trust account and our warrants will expire worthless.
We
are not required to obtain an opinion from an independent investment banking firm or from an independent accounting firm, and
consequently, you may have no assurance from an independent source that the price we are paying for the business is fair to our
company from a financial point of view.
Unless
we complete our business combination with an affiliated entity, or our board of directors cannot independently determine the fair
market value of the target business or businesses, we are not required to obtain an opinion from an independent investment banking
firm that is a member of FINRA or from an independent accounting firm that the price we are paying for a target is fair to our
company from a financial point of view. If no opinion is obtained, our stockholders will be relying on the judgment of our board
of directors, who will determine fair market value based on standards generally accepted by the financial community. Such standards
used will be disclosed in our tender offer documents or proxy solicitation materials, as applicable, related to our initial business
combination.
Resources
could be wasted in researching acquisitions that are not completed, which could materially adversely affect subsequent attempts
to locate and acquire or merge with another business. If we are unable to complete our initial business combination, our public
stockholders may receive only approximately $10.00 per share on the liquidation of our trust account and our warrants will expire
worthless.
We
anticipate that the investigation of each specific target business and the negotiation, drafting and execution of relevant agreements,
disclosure documents and other instruments will require substantial management time and attention and substantial costs for accountants,
attorneys and others. If we decide not to complete a specific initial business combination, the costs incurred up to that point
for the proposed transaction likely would not be recoverable. Furthermore, if we reach an agreement relating to a specific target
business, we may fail to complete our initial business combination for any number of reasons including those beyond our control.
Any such event will result in a loss to us of the related costs incurred which could materially adversely affect subsequent attempts
to locate and acquire or merge with another business. If we are unable to complete our initial business combination, our public
stockholders may receive only approximately $10.00 per share on the liquidation of our trust account and our warrants will expire
worthless.
35
We
may have a limited ability to assess the management of a prospective target business and, as a result, may effect our initial
business combination with a target business whose management may not have the skills, qualifications or abilities to manage a
public company.
When
evaluating the desirability of effecting our initial business combination with a prospective target business, our ability to assess
the target business' management may be limited due to a lack of time, resources or information. Our assessment of the capabilities
of the target's management, therefore, may prove to be incorrect and such management may lack the skills, qualifications
or abilities we suspected. Should the target's management not possess the skills, qualifications or abilities necessary
to manage a public company, the operations and profitability of the post-combination business may be negatively impacted. Accordingly,
any stockholders who choose to remain stockholders following the business combination could suffer a reduction in the value of
their shares. Such stockholders are unlikely to have a remedy for such reduction in value unless they are able to successfully
claim that the reduction was due to the breach by our officers or directors of a duty of care or other fiduciary duty owed to
them, or if they are able to successfully bring a private claim under securities laws that the tender offer materials or proxy
statement relating to the business combination contained an actionable material misstatement or material omission.
The
officers and directors of an acquisition candidate may resign upon completion of our initial business combination. The departure
of a business combination target's key personnel could negatively impact the operations and profitability of our post-combination
business. The role of an acquisition candidate's key personnel upon the completion of our initial business combination cannot
be ascertained at this time. Although we contemplate that certain members of an acquisition candidate's management team
will remain associated with the acquisition candidate following our initial business combination, it is possible that members
of the management of an acquisition candidate will not wish to remain in place.
We
may engage in a business combination with one or more target businesses that have relationships with entities that may be affiliated
with our sponsors, executive officers and directors which may raise potential conflicts of interest.
In
light of the involvement of our sponsors, executive officers and directors with other entities, we may decide to acquire one or
more businesses affiliated with our sponsors, executive officers and directors. Our directors also serve as officers and board
members for other entities, including, without limitation, those described under "Management — Conflicts of Interest."
Such entities may compete with us for business combination opportunities. Our sponsors, officers and directors are not currently
aware of any specific opportunities for us to complete our initial business combination with any entities with which they are
affiliated, and there have been no preliminary discussions concerning a business combination with any such entity or entities.
Although we will not be specifically focusing on, or targeting, any transaction with any affiliated entities, we would pursue
such a transaction if we determined that such affiliated entity met our criteria for a business combination as set forth in "Proposed
Business — Effecting our initial business combination — Selection of a target business and structuring of our
initial business combination" and such transaction was approved by a majority of our disinterested directors. Despite our
agreement to obtain an opinion from an independent investment banking firm that is a member of FINRA, or from an independent accounting
firm, regarding the fairness to our company from a financial point of view of a business combination with one or more domestic
or international businesses affiliated with our executive officers or directors, potential conflicts of interest still may exist
and, as a result, the terms of the business combination may not be as advantageous to our public stockholders as they would be
absent any conflicts of interest.
We
will likely only be able to complete one business combination with the proceeds of this offering and the sale of the private placement
warrants, which will cause us to be solely dependent on a single business which may have a limited number of products or services.
This lack of diversification may negatively impact our operations and profitability.
We
may effectuate our initial business combination with a single target business or multiple target businesses simultaneously or
within a short period of time. However, we may not be able to effectuate our initial business combination with more than one target
business because of various factors, including the existence of complex accounting issues and the requirement that we prepare
and file pro forma financial statements with the SEC that present operating results and the financial condition of several target
businesses as if they had been operated on a combined basis. By completing our initial business combination with only a single
entity, our lack of diversification may subject us to numerous economic, competitive and regulatory risks. Further, we would not
be able to diversify our operations or benefit from the possible spreading of risks or offsetting of losses, unlike other entities
which may have the resources to complete several business combinations in different industries or different areas of a single
industry. Accordingly, the prospects for our success may be:
●
solely
                                         dependent upon the performance of a single business, property or asset, or
●
dependent
                                         upon the development or market acceptance of a single or limited number of products,
                                         processes or services.
36
This
lack of diversification may subject us to numerous economic, competitive and regulatory risks, any or all of which may have a
substantial adverse impact upon the particular industry in which we may operate subsequent to our initial business combination.
We
may attempt to simultaneously complete business combinations with multiple prospective targets, which may hinder our ability to
complete our initial business combination and give rise to increased costs and risks that could negatively impact our operations
and profitability.
If
we determine to simultaneously acquire several businesses that are owned by different sellers, we will need for each of such sellers
to agree that our purchase of its business is contingent on the simultaneous closings of the other business combinations, which
may make it more difficult for us, and delay our ability, to complete our initial business combination. With multiple business
combinations, we could also face additional risks, including additional burdens and costs with respect to possible multiple negotiations
and due diligence investigations (if there are multiple sellers) and the additional risks associated with the subsequent assimilation
of the operations and services or products of the acquired companies in a single operating business. If we are unable to adequately
address these risks, it could negatively impact our profitability and results of operations.
Our
management may not be able to maintain control of a target business after our initial business combination. We cannot provide
assurance that, upon loss of control of a target business, new management will possess the skills, qualifications or abilities
necessary to profitably operate such business.
We
may structure our initial business combination so that the post-transaction company in which our public stockholders own shares
will own less than 100% of the equity interests or assets of a target business, but we will only complete such business combination
if the post-transaction company owns or acquires 50% or more of the outstanding voting securities of the target or otherwise acquires
a controlling interest in the target sufficient for us not to be required to register as an investment company under the Investment
Company Act. We will not consider any transaction that does not meet such criteria. Even if the post-transaction company owns
50% or more of the voting securities of the target, our stockholders prior to the business combination may collectively own a
minority interest in the post business combination company, depending on valuations ascribed to the target and us in the business
combination transaction. For example, we could pursue a transaction in which we issue a substantial number of new shares of common
stock in exchange for all of the outstanding capital stock of a target. In this case, we would acquire a 100% interest in the
target. However, as a result of the issuance of a substantial number of new shares of common stock, our stockholders immediately
prior to such transaction could own less than a majority of our outstanding shares of common stock subsequent to such transaction.
In addition, other minority stockholders may subsequently combine their holdings resulting in a single person or group obtaining
a larger share of the company's stock than we initially acquired. Accordingly, this may make it more likely that our management
will not be able to maintain our control of the target business.
We
do not have a specified maximum redemption threshold, except that in no event will we redeem our public shares in an amount that
would cause our net tangible assets to be less than $5,000,001 both immediately before and after the consummation of our initial
business combination. The absence of such a redemption threshold may make it possible for us to complete our initial business
combination with which a substantial majority of our stockholders do not agree.
Our
amended and restated certificate of incorporation will not provide a specified maximum redemption threshold, except that in no
event will we redeem our public shares in an amount that would cause our net tangible assets to be less than $5,000,001 both immediately
before and after the consummation of our initial business combination (such that we become subject to the SEC's "penny
stock" rules) or any greater net tangible asset or cash requirement which may be contained in the agreement relating to
our initial business combination. As a result, we may be able to complete our initial business combination even though a substantial
majority of our public stockholders do not agree with the transaction and have redeemed their shares or, if we seek stockholder
approval of our initial business combination and do not conduct redemptions in connection with our initial business combination
pursuant to the tender offer rules, have entered into privately negotiated agreements to sell their shares to our initial stockholders,
including our officers or directors, or their advisors or their affiliates. In the event the aggregate cash consideration we would
be required to pay for all shares of common stock that are validly submitted for redemption plus any amount required to satisfy
cash conditions pursuant to the terms of the proposed business combination exceed the aggregate amount of cash available to us,
we will not complete the business combination or redeem any shares, all shares of common stock submitted for redemption will be
returned to the holders thereof, and we instead may search for an alternate business combination.
37
We
may be unable to obtain additional financing to complete our initial business combination or to fund the operations and growth
of a target business, which could compel us to restructure or abandon a particular business combination.
Although
we believe that the net proceeds of this offering and the sale of the private placement warrants will be sufficient to allow us
to complete our initial business combination, because we have not yet identified any prospective target business we cannot ascertain
the capital requirements for any particular transaction. If the net proceeds of this offering and the sale of the private placement
warrants prove to be insufficient, either because of the size of our initial business combination, the depletion of the available
net proceeds in search of a target business, the obligation to repurchase for cash a significant number of shares from stockholders
who elect redemption in connection with our initial business combination or the terms of negotiated transactions to purchase shares
in connection with our initial business combination, we may be required to seek additional financing or to abandon the proposed
business combination. We cannot assure you that such financing will be available on acceptable terms, if at all. To the extent
that additional financing proves to be unavailable when needed to complete our initial business combination, we would be compelled
to either restructure the transaction or abandon that particular business combination and seek an alternative target business
candidate. In addition, even if we do not need additional financing to complete our business combination, we may require such
financing to fund the operations or growth of the target business. The failure to secure additional financing could have a material
adverse effect on the continued development or growth of the target business. None of our officers, directors or stockholders
is required to provide any financing to us in connection with or after our business combination. If we are unable to complete
our initial business combination, our public stockholders may only receive approximately $10.00 per share on the liquidation of
our trust account, and our warrants will expire worthless.
Because
we must furnish our stockholders with target business financial statements, we may lose the ability to complete an otherwise advantageous
initial business combination with some prospective target businesses.
The
federal proxy rules require that a proxy statement with respect to a vote on a business combination meeting certain financial
significance tests include historical and/or pro forma financial statement disclosure. We will include the same financial statement
disclosure in connection with our tender offer documents, whether or not they are required under the tender offer rules. These
financial statements may be required to be prepared in accordance with, or be reconciled to, accounting principles generally accepted
in the United States of America, or GAAP, or international financial reporting standards depending on the circumstances and the
historical financial statements may be required to be audited in accordance with the standards of the Public Company Accounting
Oversight Board (United States), or PCAOB. These financial statement requirements may limit the pool of potential target businesses
we may acquire because some targets may be unable to provide such financial statements in time for us to disclose such financial
statements in accordance with federal proxy rules and complete our initial business combination within the prescribed time frame.
Our
search for a business combination, and any target business with which we ultimately consummate our initial business combination,
may be materially adversely affected by the coronavirus (COVID-19) pandemic.
The COVID-19 pandemic
has resulted in a widespread health crisis and is adversely affecting the economies and financial markets in the U.S. and worldwide,
and could adversely affect the business of any potential target company with which we consummate a business combination. Furthermore,
we may be unable to complete a business combination if continued concerns relating to COVID-19 continue to restrict
travel, continue to limit the ability to have meetings with potential investors or the target company's personnel, vendors
and services providers are unavailable to negotiate and consummate a transaction in a timely manner. The extent to which COVID-19 impacts
our search for a business combination will depend on future developments, which are highly uncertain and cannot be predicted,
including new information which may emerge concerning the severity of COVID-19 and the actions to contain COVID-19 or
treat its impact, among others. If the disruptions posed by COVID-19 or other matters of global concern continue for
an extensive period of time, our ability to consummate a business combination, or the operations of a target business with which
we ultimately consummate a business combination, may be materially adversely affected.
38
In
addition, our ability to consummate a transaction may be dependent on the ability to raise equity and debt financing which may
be impacted by COVID-19 and other events, including a result of increased market volatility, decreased market liquidity and third
party financing being unavailable on terms acceptable to us or at all.
Finally,
the outbreak of COVID-19 or other infectious diseases may also have the effect of heightening many of the other risks described
in this "Risk Factors" section, such as those related to the market for our securities.
Risks
Relating to the Post-Business Combination Company
Subsequent
to the completion of our initial business combination, we may be required to take write-downs or write-offs, restructuring and
impairment or other charges that could have a significant negative effect on our financial condition, results of operations and
our stock price, which could cause you to lose some or all of your investment.
Even
if we conduct extensive due diligence on a target business with which we combine, we cannot assure you that this diligence will
surface all material issues that may be present inside a particular target business, that it would be possible to uncover all
material issues through a customary amount of due diligence, or that factors outside of the target business and outside of our
control will not later arise. As a result of these factors, we may be forced to later write-down or write-off assets,
restructure our operations, or incur impairment or other charges that could result in our reporting losses. Even if our due diligence
successfully identifies certain risks, unexpected risks may arise and previously known risks may materialize in a manner not consistent
with our preliminary risk analysis. Even though these charges may be non-cash items and not have an immediate impact
on our liquidity, the fact that we report charges of this nature could contribute to negative market perceptions about us or our
securities. In addition, charges of this nature may cause us to violate net worth or other covenants to which we may be subject
as a result of assuming pre-existing debt held by a target business or by virtue of our obtaining post-combination debt
financing. Accordingly, any stockholders who choose to remain stockholders following the business combination could suffer a reduction
in the value of their shares. Such stockholders are unlikely to have a remedy for such reduction in value unless they are able
to successfully claim that the reduction was due to the breach by our officers or directors of a duty of care or other fiduciary
duty owed to them, or if they are able to successfully bring a private claim under securities laws that the tender offer materials
or proxy statement relating to the business combination contained an actionable material misstatement or material omission.
Because
we are not limited to a particular industry or any specific target businesses with which to pursue our initial business combination,
you will be unable to ascertain the merits or risks of any particular target business' operations.
Although
we expect to focus our search for a target business on entities in the customer engagement sector of the telecommunications, retail
and financial services industries, we may seek to complete a business combination with an operating company in any industry or
sector. However, we will not, under our amended and restated certificate of incorporation, be permitted to effectuate our business
combination with another blank check company or similar company with nominal operations. Because we have not yet identified or
approached any specific target business with respect to a business combination, there is no basis to evaluate the possible merits
or risks of any particular target business' operations, results of operations, cash flows, liquidity, financial condition
or prospects. To the extent we complete our business combination, we may be affected by numerous risks inherent in the business
operations with which we combine. For example, if we combine with a financially unstable business or an entity lacking an established
record of sales or earnings, we may be affected by the risks inherent in the business and operations of a financially unstable
or a development stage entity. Although our officers and directors will endeavor to evaluate the risks inherent in a particular
target business, we cannot assure you that we will properly ascertain or assess all of the significant risk factors or that we
will have adequate time to complete due diligence. Furthermore, some of these risks may be outside of our control and leave us
with no ability to control or reduce the chances that those risks will adversely impact a target business. We also cannot assure
you that an investment in our units will ultimately prove to be more favorable to investors than a direct investment, if such
opportunity were available, in a business combination target. Accordingly, any stockholders who choose to remain stockholders
following the business combination could suffer a reduction in the value of their shares. Such stockholders are unlikely to have
a remedy for such reduction in value unless they are able to successfully claim that the reduction was due to the breach by our
officers or directors of a duty of care or other fiduciary duty owed to them, or if they are able to successfully bring a private
claim under securities laws that the tender offer materials or proxy statement relating to the business combination contained
an actionable material misstatement or material omission.
39
We
may issue notes or other debt securities, or otherwise incur substantial debt, to complete a business combination, which may adversely
affect our leverage and financial condition and thus negatively impact the value of our stockholders' investment in us.
Although
we have no commitments as of the date of this prospectus to issue any notes or other debt securities, or to otherwise incur outstanding
debt following this offering, we may choose to incur substantial debt to complete our initial business combination. We have agreed
that we will not incur any indebtedness unless we have obtained from the lender a waiver of any right, title, interest or claim
of any kind in or to the monies held in the trust account. As such, no issuance of debt will affect the per-share amount
available for redemption from the trust account. Nevertheless, the incurrence of debt could have a variety of negative effects,
including:
●
default
                                         and foreclosure on our assets if our operating revenues after an initial business combination
                                         are insufficient to repay our debt obligations;
●
acceleration
                                         of our obligations to repay the indebtedness even if we make all principal and interest
                                         payments when due if we breach certain covenants that require the maintenance of certain
                                         financial ratios or reserves without a waiver or renegotiation of that covenant;
●
our
                                         immediate payment of all principal and accrued interest, if any, if the debt security
                                         is payable on demand;
●
our
                                         inability to obtain necessary additional financing if the debt security contains covenants
                                         restricting our ability to obtain such financing while the debt security is outstanding;
●
our
                                         inability to pay dividends on our common stock;
●
using
                                         a substantial portion of our cash flow to pay principal and interest on our debt, which
                                         will reduce the funds available for dividends on our common stock if declared, expenses,
                                         capital expenditures, acquisitions and other general corporate purposes;
●
limitations
                                         on our flexibility in planning for and reacting to changes in our business and in the
                                         industry in which we operate;
●
increased
                                         vulnerability to adverse changes in general economic, industry and competitive conditions
                                         and adverse changes in government regulation; and
●
limitations
                                         on our ability to borrow additional amounts for expenses, capital expenditures, acquisitions,
                                         debt service requirements, execution of our strategy and other purposes and other disadvantages
                                         compared to our competitors who have less debt.
If
we effect our initial business combination with a company with operations or opportunities outside of the United States, we would
be subject to a variety of additional risks that may negatively impact our operations.
If
we effect our initial business combination with a company with operations or opportunities outside of the United States, we would
be subject to any special considerations or risks associated with companies operating in an international setting, including any
of the following:
●
higher
                                         costs and difficulties inherent in managing cross-border business operations and complying
                                         with different commercial and legal requirements of overseas markets;
●
rules
                                         and regulations regarding currency redemption;
40
●
laws
                                         governing the manner in which future business combinations may be effected;
●
tariffs
                                         and trade barriers;
●
regulations
                                         related to customs and import/export matters;
●
local
                                         or regional economic policies and market conditions;
●
unexpected
                                         changes in regulatory requirements;
●
longer
                                         payment cycles;
●
tax
                                         issues, such as tax law changes and variations in tax laws as compared to the United
                                         States;
●
currency
                                         fluctuations and exchange controls;
●
rates
                                         of inflation;
●
challenges
                                         in collecting accounts receivable;
●
cultural
                                         and language differences;
●
employment
                                         regulations;
●
underdeveloped
                                         or unpredictable legal or regulatory systems;
●
corruption;
●
protection
                                         of intellectual property;
●
social
                                         unrest, crime, strikes, riots, civil disturbances, regime changes, political upheaval,
                                         terrorist attacks, natural disasters and wars;
●
deterioration
                                         of political relations with the United States; and
●
government
                                         appropriation of assets.
We may
not be able to adequately address these additional risks. If we were unable to do so, our operations might suffer, which may adversely
impact our results of operations and financial condition.
Risks
Relating to our Management Team
Past
performance by our management team may not be indicative of future performance of an investment in us.
Information
regarding performance by, or businesses associated with, our management team is presented for informational purposes only. Any
past experience and performance of our management team is not a guarantee either: (a) that we will be able to successfully identify
a suitable candidate for our initial business combination; or (b) of any results with respect to any initial business combination
we may consummate. You should not rely on the historical record of our management team's performance as indicative of the
future performance of an investment in us or the returns we will, or are likely to, generate going forward.
We
are dependent upon our executive officers and directors and their departure could adversely affect our ability to operate.
Our
operations are dependent upon a relatively small group of individuals. We believe that our success depends on the continued service
of our executive officers and directors, at least until we have completed our business combination. In addition, our executive
officers and directors are not required to commit any specified amount of time to our affairs and, accordingly, will have conflicts
of interest in allocating management time among various business activities, including identifying potential business combinations
and monitoring the related due diligence. We do not have an employment agreement with, or key-man insurance on the life
of, any of our directors or executive officers. The unexpected loss of the services of one or more of our directors or executive
officers could have a detrimental effect on us.
41
Our
ability to successfully effect our initial business combination and to be successful thereafter will be totally dependent upon
the efforts of our key personnel, some of whom may join us following our initial business combination. The loss of key personnel
could negatively impact the operations and profitability of our post-combination business.
Our
ability to successfully effect our initial business combination is dependent upon the efforts of our key personnel. The role of
our key personnel in the target business, however, cannot presently be ascertained. Although some of our key personnel may remain
with the target business in senior management or advisory positions following our initial business combination, it is likely that
some or all of the management of the target business will remain in place. While we intend to closely scrutinize any individuals
we engage after our initial business combination, we cannot assure you that our assessment of these individuals will prove to
be correct. These individuals may be unfamiliar with the requirements of operating a company regulated by the SEC, which could
cause us to have to expend time and resources helping them become familiar with such requirements.
Our
key personnel may negotiate employment or consulting agreements with a target business in connection with a particular business
combination. These agreements may provide for them to receive compensation following our initial business combination and as a
result, may cause them to have conflicts of interest in determining whether a particular business combination is the most advantageous.
Our
key personnel may be able to remain with the company after the completion of our initial business combination only if they are
able to negotiate employment or consulting agreements in connection with the business combination. Such negotiations would take
place simultaneously with the negotiation of the business combination and could provide for such individuals to receive compensation
in the form of cash payments and/or our securities for services they would render to us after the completion of the business combination.
The personal and financial interests of such individuals may influence their motivation in identifying and selecting a target
business. However, we believe the ability of such individuals to remain with us after the completion of our initial business combination
will not be the determining factor in our decision as to whether or not we will proceed with any potential business combination.
There is no certainty, however, that any of our key personnel will remain with us after the completion of our business combination.
We cannot assure you that any of our key personnel will remain in senior management or advisory positions with us. The determination
as to whether any of our key personnel will remain with us will be made at the time of our initial business combination.
Our
executive officers and directors will allocate their time to other businesses thereby causing conflicts of interest in their determination
as to how much time to devote to our affairs. This conflict of interest could have a negative impact on our ability to complete
our initial business combination.
Our
executive officers and directors are not required to, and will not, commit their full time to our affairs, which may result in
a conflict of interest in allocating their time between our operations and our search for a business combination and their other
businesses. We do not intend to have any full-time employees prior to the completion of our initial business combination. Each
of our executive officers is engaged in several other business endeavors for which he may be entitled to substantial compensation
and our executive officers are not obligated to contribute any specific number of hours per week to our affairs. Our independent
directors also serve as officers and board members for other entities. If our executive officers' and directors' other
business affairs require them to devote substantial amounts of time to such affairs in excess of their current commitment levels,
it could limit their ability to devote time to our affairs which may have a negative impact on our ability to complete our initial
business combination. For a complete discussion of our executive officers' and directors' other business affairs,
please see "Management — Directors and Executive Officers."
Certain
of our executive officers and directors are now, and all of them may in the future become, affiliated with entities engaged in
business activities similar to those intended to be conducted by us following our initial business combination and, accordingly,
may have conflicts of interest in determining to which entity a particular business opportunity should be presented.
Following
the completion of this offering and until we consummate our initial business combination, we intend to engage in the business
of identifying and combining with one or more businesses. Our executive officers and directors are, or may in the future become,
affiliated with entities that are engaged in business activities similar to those intended to be conducted by us following our
initial business combination. See a description of our executive officers' and directors' current affiliations under
the headings "Management" and "Management — Conflicts of Interest" below.
42
Our
officers and directors also may become aware of business opportunities which may be appropriate for presentation to us and the
other entities to which they owe certain fiduciary or contractual duties. Accordingly, they may have conflicts of interest in
determining to which entity a particular business opportunity should be presented. These conflicts may not be resolved in our
favor and a potential target business may be presented to another entity prior to its presentation to us. Our amended and restated
certificate of incorporation will provide that we renounce our interest in any corporate opportunity offered to any director or
officer unless such opportunity is expressly offered to such person solely in his or her capacity as a director or officer of
our company and such opportunity is one we are legally and contractually permitted to undertake and would otherwise be reasonable
for us to pursue.
For
a complete discussion of our executive officers' and directors' business affiliations and the potential conflicts
of interest that you should be aware of, please see "Management — Directors and Executive Officers," "Management
— Conflicts of Interest" and "Certain Relationships and Related Party Transactions."
Our
executive officers, directors, security holders and their respective affiliates may have competitive pecuniary interests that
conflict with our interests.
We
have not adopted a policy that expressly prohibits our executive officers, directors, security holders and their respective affiliates
from having a direct or indirect pecuniary or financial interest in any investment to be acquired or disposed of by us or in any
transaction to which we are a party or have an interest. In fact, we may enter into a business combination with a target business
that is affiliated with our directors or executive officers, although we do not currently intend to do so. Nor do we have a policy
that expressly prohibits any such persons from engaging for their own account in business activities of the types conducted by
us. Accordingly, such persons or entities may have a conflict between their interests and ours.
Since
our initial stockholders, including our sponsors, executive officers and directors, will lose their entire investment in us if
our initial business combination is not completed, a conflict of interest may arise in determining whether a particular business
combination target is appropriate for our initial business combination.
Upon
the closing of this offering, our initial stockholders will hold 2,875,000 founder shares (up to 375,000 of which are subject
to forfeiture). Certain members of our management team also have a financial interest in our sponsors. The founder shares
held by our initial stockholders will be worthless if we do not complete an initial business combination. In addition, our sponsors
will purchase 2,300,000 private warrants (inclusive of 1,000,000 warrants that
will
be purchased by I-Bankers and, in lieu of I-Bankers acquiring such warrants, they will be issued to our sponsors)
for
an aggregate purchase price of $2,300,000. All of the foregoing private warrants will also be worthless if we do not consummate
our initial business combination. The personal and financial interests of our sponsors, executive officers and directors may influence
their motivation in identifying and selecting a target business combination, completing an initial business combination and influencing
the operation of the business following the initial business combination. This risk may become more acute as the 18-month 
(or up to 24 months from the closing of this offering if we extend the period of time to consummate a business combination, as
described in more detail in this prospectus) anniversary of the closing of this offering nears, which is the deadline for our
completion of an initial business combination.
Since
our sponsors, executive officers and directors will not be eligible to be reimbursed for their out-of-pocket expenses
if our business combination is not completed, a conflict of interest may arise in determining whether a particular business combination
target is appropriate for our initial business combination.
At
the closing of our initial business combination, our sponsors, executive officers and directors, or any of their respective affiliates,
will be reimbursed for any out-of-pocket expenses incurred in connection with activities on our behalf such as identifying
potential target businesses and performing due diligence on suitable business combinations. There is no cap or ceiling on the
reimbursement of out-of-pocket expenses incurred in connection with activities on our behalf. These financial interests
of our sponsors, executive officers and directors, may influence their motivation in identifying and selecting a target business
combination and completing an initial business combination.
43
Risks
Relating to Our Securities
You
will not have any rights or interests in funds from the trust account, except under certain limited circumstances. To liquidate
your investment, therefore, you may be forced to sell your public shares or warrants, potentially at a loss.
Our
public stockholders will be entitled to receive funds from the trust account only upon the earliest to occur of: (i) the
completion of our initial business combination, (ii) the redemption of any public shares properly tendered in connection
with a stockholder vote to amend our amended and restated certificate of incorporation (A) to modify the substance or timing
of our obligation to redeem 100% of our public shares if we do not complete our initial business combination within 18 months
from the closing of this offering (or up to 24 months from the closing of this offering if we extend the period of time to consummate
a business combination, as described in more detail in this prospectus) or (B) with respect to any other provision relating
to stockholders' rights or pre-business combination activity and (iii) the redemption of all of our public
shares if we are unable to complete our business combination within 18 months from the closing (or up to 24 months from the closing
of this offering if we extend the period of time to consummate a business combination, as described in more detail in this prospectus)
of this offering, subject to applicable law and as further described herein. Stockholders who do not exercise their rights to
the funds in connection with an amendment to our certificate of incorporation would still have rights to the funds in connection
with a subsequent business combination. In no other circumstances will a public stockholder have any right or interest of any
kind in the trust account. Accordingly, to liquidate your investment, you may be forced to sell your public shares or warrants,
potentially at a loss.
Because
each unit contains one-half of one redeemable warrant and only a whole warrant may be exercised, the units may be worth
less than units of other blank check companies.
Each
unit contains one-half of one redeemable warrant. No fractional warrants will be issued upon separation of the units
and only whole warrants will trade. Accordingly, unless you purchase at least two units, you will not be able to receive or trade
a whole warrant. This is different from other offerings similar to ours whose units include one share of common stock and one
warrant to purchase one share. We have established the components of the units in this way in order to reduce the dilutive effect
of the warrants upon completion of an initial business combination since the warrants will be exercisable in the aggregate for
one half of the number of shares compared to units that each contain a warrant to purchase one share, thus making us, we believe,
a more attractive business combination partner for target businesses. Nevertheless, this unit structure may cause our units to
be worth less than if they included a warrant to purchase one share.
Nasdaq
may delist our securities from trading on its exchange, which could limit investors' ability to make transactions in our
securities and subject us to additional trading restrictions.
We
intend to apply to have our units listed on Nasdaq on or promptly after the date of this prospectus and our common stock and warrants
listed on or promptly after their date of separation. Although after giving effect to this offering we expect to meet, on a pro
forma basis, the minimum initial listing standards set forth in the Nasdaq listing standards, we cannot assure you that our securities
will be, or will continue to be, listed on Nasdaq in the future or prior to our initial business combination. In order to continue
listing our securities on Nasdaq prior to our initial business combination, we must maintain certain financial, distribution and
stock price levels. Additionally, in connection with our initial business combination, we will be required to demonstrate compliance
with Nasdaq's initial listing requirements, which are more rigorous than Nasdaq's continued listing requirements,
in order to continue to maintain the listing of our securities on Nasdaq. For instance, our stock price would generally be required
to be at least $4.00 per share. We cannot assure you that we will be able to meet those initial listing requirements at that time.
If
Nasdaq delists our securities from trading on its exchange and we are not able to list our securities on another national securities
exchange, we expect our securities could be quoted on an over-the-counter market. If this were to occur, we could face
significant material adverse consequences, including:
●
a
                                         limited availability of market quotations for our securities;
●
reduced
                                         liquidity for our securities;
44
●
a
                                         determination that our common stock is a "penny stock" which will require
                                         brokers trading in our common stock to adhere to more stringent rules and possibly result
                                         in a reduced level of trading activity in the secondary trading market for our securities;
●
a
                                         limited amount of news and analyst coverage; and
●
a
                                         decreased ability to issue additional securities or obtain additional financing in the
                                         future.
If
third parties bring claims against us, the proceeds held in the trust account could be reduced and the per-share redemption
amount received by stockholders may be less than $10.00 per share.
Our
placing of funds in the trust account may not protect those funds from third-party claims against us. Although we will seek to
have all vendors, service providers, prospective target businesses or other entities with which we do business execute agreements
with us waiving any right, title, interest or claim of any kind in or to any monies held in the trust account for the benefit
of our public stockholders, such parties may not execute such agreements, or even if they execute such agreements they may not
be prevented from bringing claims against the trust account, including, but not limited to, fraudulent inducement, breach of fiduciary
responsibility or other similar claims, as well as claims challenging the enforceability of the waiver, in each case in order
to gain advantage with respect to a claim against our assets, including the funds held in the trust account. If any third party
refuses to execute an agreement waiving such claims to the monies held in the trust account, our management will perform an analysis
of the alternatives available to it and will only enter into an agreement with a third party that has not executed a waiver if
management believes that such third party's engagement would be significantly more beneficial to us than any alternative.
We are not aware of any product or service providers who have not or will not provide such waiver other than the underwriters
of this offering.
Examples
of possible instances where we may engage a third party that refuses to execute a waiver include the engagement of a third party
consultant whose particular expertise or skills are believed by management to be significantly superior to those of other consultants
that would agree to execute a waiver or in cases where management is unable to find a service provider willing to execute a waiver.
In addition, there is no guarantee that such entities will agree to waive any claims they may have in the future as a result of,
or arising out of, any negotiations, contracts or agreements with us and will not seek recourse against the trust account for
any reason. Upon redemption of our public shares, if we are unable to complete our business combination within the prescribed
timeframe, or upon the exercise of a redemption right in connection with our business combination, we will be required to provide
for payment of claims of creditors that were not waived that may be brought against us within the 10 years following redemption.
Accordingly, the per-share redemption amount received by public stockholders could be less than the $10.00 per share
initially held in the trust account, due to claims of such creditors. Our sponsors have agreed that it will be liable to us if
and to the extent any claims by a vendor for services rendered or products sold to us, or a prospective target business with which
we have discussed entering into a transaction agreement, reduce the amount of funds in the trust account to below (i) $10.00 per
public share or (ii) such lesser amount per public share held in the trust account as of the date of the liquidation of the
trust account due to reductions in the value of the trust assets, in each case net of the interest which may be withdrawn to pay
taxes, except as to any claims by a third party who executed a waiver of any and all rights to seek access to the trust account
and except as to any claims under indemnity of the underwriters of this offering against certain liabilities, including liabilities
under the Securities Act. Moreover, in the event that an executed waiver is deemed to be unenforceable against a third party,
our sponsors will not be responsible to the extent of any liability for such third party claims. We have not asked our sponsors
to reserve for such indemnification obligations, and our sponsors' only assets are securities of our company. Therefore,
we cannot assure you that our sponsors would be able to satisfy those obligations.
A
provision of our warrant agreement may make it more difficult for us to consummate an initial business combination.
If
(x) we issue additional shares of common stock or equity-linked securities for capital raising purposes in connection with
the closing of our initial business combination at an issue price or effective issue price of less than $9.20 per share of common
stock (with such issue price or effective issue price to be determined in good faith by our board of directors and, in the case
of any such issuance to our sponsors or their affiliates, without taking into account any founder shares held by our sponsors
or their affiliates, as applicable, prior to such issuance) (the "newly issued price"), (y) the aggregate gross
proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding
of our initial business combination on the date of the completion of our initial business combination (net of redemptions), and
(z) the volume weighted average trading price of our common stock during the 20 trading day period starting on the trading
day prior to the day on which we complete our initial business combination (such price, the "Market Value") is below
$9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of
the Market Value and the newly issued price, and the $18.00 per share redemption trigger price will be adjusted (to the nearest
cent) to be equal to 180% of the higher of the Market Value and the newly issued price. This may make it more difficult for us
to consummate an initial business combination with a target business.
45
Our
directors may decide not to enforce the indemnification obligations of our sponsors, resulting in a reduction in the amount of
funds in the trust account available for distribution to our public stockholders.
In
the event that the proceeds in the trust account are reduced below the lesser of (i) $10.00 per share or (ii) other than
due to the failure to obtain a waiver from a vendor waiving any right, title, interest or claim of any kind in or to any monies
held in the trust account for the benefit of our public stockholders, such lesser amount per share held in the trust account as
of the date of the liquidation of the trust account due to reductions in the value of the trust assets, in each case net of the
interest which may be withdrawn to pay taxes, and our sponsors assert that it is unable to satisfy its obligations or that it
has no indemnification obligations related to a particular claim, our independent directors would determine whether to take legal
action against our sponsors to enforce its indemnification obligations. While we currently expect that our independent directors
would take legal action on our behalf against our sponsors to enforce its indemnification obligations to us, it is possible that
our independent directors in exercising their business judgment may choose not to do so in any particular instance. If our independent
directors choose not to enforce these indemnification obligations, the amount of funds in the trust account available for distribution
to our public stockholders may be reduced below $10.00 per share.
If,
after we distribute the proceeds in the trust account to our public stockholders, we file a bankruptcy petition or an involuntary
bankruptcy petition is filed against us that is not dismissed, a bankruptcy court may seek to recover such proceeds, and the members
of our board of directors may be viewed as having breached their fiduciary duties to our creditors, thereby exposing the members
of our board of directors and us to claims of punitive damages.
If,
after we distribute the proceeds in the trust account to our public stockholders, we file a bankruptcy petition or an involuntary
bankruptcy petition is filed against us that is not dismissed, any distributions received by stockholders could be viewed under
applicable debtor/creditor and/or bankruptcy laws as either a "preferential transfer" or a "fraudulent conveyance."
As a result, a bankruptcy court could seek to recover all amounts received by our stockholders. In addition, our board of directors
may be viewed as having breached its fiduciary duty to our creditors and/or having acted in bad faith, thereby exposing itself
and us to claims of punitive damages, by paying public stockholders from the trust account prior to addressing the claims of creditors.
If,
before distributing the proceeds in the trust account to our public stockholders, we file a bankruptcy petition or an involuntary
bankruptcy petition is filed against us that is not dismissed, the claims of creditors in such proceeding may have priority over
the claims of our stockholders and the per-share amount that would otherwise be received by our stockholders in connection
with our liquidation may be reduced.
If,
before distributing the proceeds in the trust account to our public stockholders, we file a bankruptcy petition or an involuntary
bankruptcy petition is filed against us that is not dismissed, the proceeds held in the trust account could be subject to applicable
bankruptcy law, and may be included in our bankruptcy estate and subject to the claims of third parties with priority over the
claims of our stockholders. To the extent any bankruptcy claims deplete the trust account, the per-share amount that
would otherwise be received by our stockholders in connection with our liquidation may be reduced.
Our
stockholders may be held liable for claims by third parties against us to the extent of distributions received by them upon redemption
of their shares.
Under
the DGCL, stockholders may be held liable for claims by third parties against a corporation to the extent of distributions received
by them in a dissolution. The pro rata portion of our trust account distributed to our public stockholders upon the redemption
of our public shares in the event we do not complete our initial business combination within 18 months from the closing of this
offering (or up to 24 months from the closing of this offering if we extend the period of time to consummate a business combination,
as described in more detail in this prospectus) may be considered a liquidation distribution under Delaware law. If a corporation
complies with certain procedures set forth in Section 280 of the DGCL intended to ensure that it makes reasonable provision
for all claims against it, including a 60-day notice period during which any third-party claims can be brought against
the corporation, a 90-day period during which the corporation may reject any claims brought, and an additional 150-day waiting
period before any liquidating distributions are made to stockholders, any liability of stockholders with respect to a liquidating
distribution is limited to the lesser of such stockholder's pro rata share of the claim or the amount distributed to the
stockholder, and any liability of the stockholder would be barred after the third anniversary of the dissolution. However, it
is our intention to redeem our public shares as soon as reasonably possible following the 18th month (or up to the 24th month
if we extend the period of time to consummate a business combination, as described in more detail in this prospectus) from the
closing of this offering in the event we do not complete our business combination and, therefore, we do not intend to comply with
those procedures.
46
Because
we will not be complying with Section 280, Section 281(b) of the DGCL requires us to adopt a plan, based on facts known
to us at such time that will provide for our payment of all existing and pending claims or claims that may be potentially brought
against us within the 10 years following our dissolution. However, because we are a blank check company, rather than an operating
company, and our operations will be limited to searching for prospective target businesses to acquire, the only likely claims
to arise would be from our vendors (such as lawyers, investment bankers, etc.) or prospective target businesses. If our plan of
distribution complies with Section 281(b) of the DGCL, any liability of stockholders with respect to a liquidating distribution
is limited to the lesser of such stockholder's pro rata share of the claim or the amount distributed to the stockholder,
and any liability of the stockholder would likely be barred after the third anniversary of the dissolution. We cannot assure you
that we will properly assess all claims that may be potentially brought against us. As such, our stockholders could potentially
be liable for any claims to the extent of distributions received by them (but no more) and any liability of our stockholders may
extend beyond the third anniversary of such date. Furthermore, if the pro rata portion of our trust account distributed to our
public stockholders upon the redemption of our public shares in the event we do not complete our initial business combination
within 18 months (or up to 24 months from the closing of this offering if we extend the period of time to consummate a business
combination, as described in more detail in this prospectus) from the closing of this offering is not considered a liquidation
distribution under Delaware law and such redemption distribution is deemed to be unlawful (potentially due to the imposition of
legal proceedings that a party may bring or due to other circumstances that are currently unknown), then pursuant to Section 174
of the DGCL, the statute of limitations for claims of creditors could then be six years after the unlawful redemption distribution,
instead of three years, as in the case of a liquidation distribution.
We
may not hold an annual meeting of stockholders until after our consummation of a business combination and you will not be entitled
to any of the corporate protections provided by such a meeting.
In
accordance with the Nasdaq 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 Nasdaq. 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 a company's 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 our consummation
of a 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.
47
We
are not registering the shares of common stock issuable upon exercise of the warrants under the Securities Act or any state securities
laws at this time, and such registration may not be in place when an investor desires to exercise warrants, thus precluding such
investor from being able to exercise its warrants except on a cashless basis and potentially causing such warrants to expire worthless.
We
are not registering the shares of common stock issuable upon exercise of the warrants under the Securities Act or any state securities
laws at this time. However, under the terms of the warrant agreement, we have agreed, as soon as practicable, but in no event
later than 30 business days after the closing of our initial business combination, we will use our reasonable best efforts to
file, and within 90 business days after the closing of our initial business combination, to have declared effective, a registration
statement relating to the common stock issuable upon exercise of the warrants, and to maintain a current prospectus relating to
such shares of common stock until the expiration of the warrants in accordance with the provisions of the warrant agreement. We
cannot assure you that we will be able to do so if, for example, any facts or events arise which represent a fundamental change
in the information set forth in the registration statement or prospectus, the financial statements contained or incorporated by
reference therein are not current or correct or the SEC issues a stop order. If the shares issuable upon exercise of the warrants
are not registered under the Securities Act, we will be required to permit holders to exercise their warrants on a cashless basis.
However, no warrant will be exercisable for cash or on a cashless basis, and we will not be obligated to issue any shares to holders
seeking to exercise their warrants, unless the issuance of the shares upon such exercise is registered or qualified under the
securities laws of the state of the exercising holder or an exemption from registration is available. Notwithstanding the above,
if our common stock is at the time of any exercise of a warrant not listed on a national securities exchange such that it satisfies
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 best efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is
not available. In no event will we be required to net cash settle any warrant, or issue securities or other compensation in exchange
for the warrants in the event that we are unable to register or qualify the shares underlying the warrants under applicable state
securities laws. If the issuance of the shares upon exercise of the warrants is not so registered or qualified or exempt from
registration or qualification, the holder of such warrant shall not be entitled to exercise such warrant and such warrant may
have no value and expire worthless. In such event, holders who acquired their warrants as part of a purchase of units will have
paid the full unit purchase price solely for the shares of common stock included in the units. We may not redeem the warrants
when a holder may not exercise such warrants. However, there may be instances in which holders of our public warrants may be unable
to exercise such public warrants but holders of our private warrants may be able to exercise such private warrants.
The
grant of registration rights to our initial stockholders and holders of our private placement warrants may make it more difficult
to complete our initial business combination, and the future exercise of such rights may adversely affect the market price of
our common stock.
Pursuant
to an agreement to be entered into concurrently with the issuance and sale of the securities in this offering, our initial stockholders
and their permitted transferees can demand that we register their shares of our common stock at the time of our initial business
combination. In addition, holders of our private placement warrants and their permitted transferees can demand that we register
the private placement warrants and the shares of common stock issuable upon exercise of the private placement warrants, and holders
of securities that may be issued upon conversion of working capital loans may demand that we register such warrants or the common
stock issuable upon exercise of such warrants. We will bear the cost of registering these securities. The registration and availability
of such a significant number of securities for trading in the public market may have an adverse effect on the market price of
our common stock. In addition, the existence of the registration rights may make our initial business combination more costly
or difficult to conclude. This is because the stockholders of the target business may increase the equity stake they seek in the
combined entity or ask for more cash consideration to offset the negative impact on the market price of our common stock that
is expected when the common stock owned by our initial stockholders, holders of our private placement warrants or holders of our
working capital loans or their respective permitted transferees are registered.
We
may issue additional shares of common stock or preferred stock to complete our initial business combination or under an employee
incentive plan after completion of our initial business combination, and any such issuances would dilute the interest of our stockholders
and likely present other risks.
Our
amended and restated certificate of incorporation will authorize the issuance of up to 100,000,000 shares of common stock,
par value $0.01 per share, and 1,000,000 shares of undesignated preferred stock, par value $0.01 per share. Immediately
after this offering, there will be 87,250,000 (assuming that the underwriters have not exercised the underwriters'
over-allotment option) authorized but unissued shares of common stock available for issuance, which amount takes into account
shares of common stock reserved for issuance upon exercise of outstanding warrants. Immediately after this offering, there will
be no shares of preferred stock issued and outstanding.
48
We
may issue a substantial number of additional shares of common stock, and may issue shares of preferred stock, in order to complete
our initial business combination or under an employee incentive plan after completion of our initial business combination (although
our amended and restated certificate of incorporation will provide that we may not issue securities that can vote with common
stockholders on matters related to our pre-business combination activity). However, our amended and restated certificate
of incorporation will provide, among other things, that prior to our initial business combination, we may not issue additional
shares of capital stock that would entitle the holders thereof to (i) receive funds from the trust account or (ii) vote
on any initial business combination. These provisions of our amended and restated certificate of incorporation, like all provisions
of our amended and restated certificate of incorporation, may be amended with a stockholder vote. However, our sponsors, executive
officers and directors have agreed, pursuant to a written agreement with us, that they will not propose any amendment to our amended
and restated certificate of incorporation (A) to modify the substance or timing of our obligation to redeem 100% of our public
shares if we do not complete our initial business combination within 18 months from the closing of this offering or (B) with
respect to any other provision relating to stockholders' rights or pre-business combination activity, unless we
provide our public stockholders with the opportunity to redeem their shares of common stock upon approval of any such amendment
at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including
interest (which interest shall be net of taxes payable), divided by the number of then outstanding public shares. The issuance
of additional shares of common or preferred stock:
●
may
                                         significantly dilute the equity interest of investors in this offering;
●
may
                                         subordinate the rights of holders of common stock if preferred stock is issued with rights
                                         senior to those afforded our common stock;
●
could
                                         cause a change in control if a substantial number of common stock is issued, which may
                                         affect, among other things, our ability to use our net operating loss carry forwards,
                                         if any, and could result in the resignation or removal of our present officers and directors;
                                         and
●
may
                                         adversely affect prevailing market prices for our units, common stock and/or warrants.
In
order to effectuate an initial business combination, blank check companies have, in the recent past, amended various provisions
of their charters and modified governing instruments. We cannot assure you that we will not seek to amend our amended and restated
certificate of incorporation or governing instruments in a manner that will make it easier for us to complete our initial business
combination that our stockholders may not support.
In
order to effectuate a business combination, blank check companies have, in the recent past, amended various provisions of their
charters and modified governing instruments. For example, blank check companies have amended the definition of business combination,
increased redemption thresholds and extended the time period in which the company must consummate its initial business combination.
We cannot assure you that we will not seek to amend our charter or governing instruments in order to effectuate our initial business
combination.
Certain
agreements related to this offering may be amended without stockholder approval.
Certain
agreements, including the underwriting agreement relating to this offering, the investment management trust agreement between
us and Continental Stock Transfer & Trust Company, the letter agreements and the registration rights agreement among
us and our sponsors, executive officers and directors, the administrative services agreement between us and our sponsors, and
the business combination marketing agreement may be amended without stockholder approval. These agreements contain various provisions
that our public stockholders might deem to be material. While we do not expect our board of directors to approve any amendment
to any of these agreements prior to our initial business combination, it may be possible that our board of directors, in exercising
its business judgment and subject to its fiduciary duties, chooses to approve one or more amendments to any such agreement in
connection with the consummation of our initial business combination. Any such amendment may have an adverse effect on the value
of an investment in our securities.
49
Our
initial stockholders control a substantial interest in us and thus may exert a substantial influence on actions requiring a stockholder
vote, potentially in a manner that you do not support.
Upon
the closing of this offering, our initial stockholders will own 20.0% of our issued and outstanding shares of common stock (excluding
the Representative's shares and assuming they do not purchase units in this offering). Accordingly, they may exert a substantial
influence on actions requiring a stockholder vote, potentially in a manner that you do not support, including amendments to our
amended and restated certificate of incorporation and approval of major corporate transactions. If our initial stockholders purchase
any units in this offering or additional shares of common stock in the aftermarket or in privately negotiated transactions, this
would increase their influence.
Our
initial stockholders paid an aggregate of $28,750, or approximately $0.01 per founder share, and, accordingly, you will experience
immediate and substantial dilution from the purchase of our common stock.
The
difference between the public offering price per share (allocating all of the unit purchase price to the common stock and none
to the warrant included in the unit) and the pro forma net tangible book value per share of our common stock after this offering
constitutes the dilution to you and the other investors in this offering. Our initial stockholders acquired the founder shares
at a nominal price, significantly contributing to this dilution. Upon the closing of this offering, and assuming no value is ascribed
to the warrants included in the units, you and the other public stockholders will incur an immediate and substantial dilution
of approximately 84.36% (or $8.44 per share, assuming no exercise of the underwriters' over-allotment option),
the difference between the pro forma net tangible book value per share after this offering of $1.56 and the initial offering
price of $10.00 per unit.
We
may amend the terms of the warrants in a manner that may be adverse to holders of public warrants with the approval by the holders
of at least 65% of the then outstanding public warrants.
Our
warrants will be issued in registered form under a warrant agreement between Continental Stock Transfer & Trust Company,
as warrant agent, and us. The warrant agreement provides that the terms of the warrants may be amended without the consent of
any holder to cure any ambiguity or correct any defective provision, but requires the approval by the holders of at least 65%
of the then outstanding public warrants to make any change that adversely affects the interests of the registered holders of public
warrants. Accordingly, we may amend the terms of the public warrants in a manner adverse to a holder if holders of at least 65%
of the then outstanding public warrants approve of such amendment. Although our ability to amend the terms of the public warrants
with the consent of at least 65% of the then outstanding public warrants is unlimited, examples of such amendments could be amendments
to, among other things, increase the exercise price of the warrants, shorten the exercise period or decrease the number of shares
of our common stock purchasable upon exercise of a warrant.
We
may redeem your unexpired warrants prior to their exercise at a time that is disadvantageous to you, thereby making your warrants
worthless.
We
have the ability to redeem outstanding warrants at any time after they become exercisable and prior to their expiration, at a
price of $0.01 per warrant, provided that the last reported sales price of our common stock equals or exceeds $18.00 per share
for any 20 trading days within a 30 trading-day period ending on the third trading day prior to the date we send the
notice of redemption to the warrant holders. We may not redeem the warrants when a holder may not exercise such warrants. Redemption
of the outstanding warrants could force you (i) to exercise your warrants and pay the exercise price therefor at a time when
it may be disadvantageous for you to do so, (ii) to sell your warrants at the then-current market price when you might otherwise
wish to hold your warrants or (iii) to accept the nominal redemption price which, at the time the outstanding warrants are
called for redemption, is likely to be substantially less than the market value of your warrants. None of the private placement
warrants will be redeemable by us so long as they are held by their initial purchasers or their permitted transferees.
Our
warrants may have an adverse effect on the market price of our common stock and make it more difficult to effectuate our initial
business combination.
We
will be issuing warrants to purchase 5,000,000 shares of our common stock (or up to 5,750,000 shares of common stock if the underwriters'
over-allotment option is exercised in full) as part of the units offered by this prospectus and, simultaneously with the closing
of this offering, we will be issuing an aggregate of 3,500,000 warrants (or 3,800,000 warrants if the underwriters' over-allotment
option is exercised in full) at a price of $1.00 per warrant in a private placement to our sponsors and I-Bankers. In
addition, if our initial stockholders make any working capital loans, up to $1,500,000 of such loans may be convertible, at the
option of the lender, into private placement warrants at a price of $1.00 per warrant of the post business combination entity.
To the extent we issue shares of common stock to effectuate a business combination, the potential for the issuance of a substantial
number of additional shares of common stock upon exercise of these warrants could make us a less attractive acquisition vehicle
to a target business. Such warrants, if and when exercised, would increase the number of issued and outstanding shares of our
common stock and reduce the value of the shares of common stock issued to complete the business combination. Therefore, our warrants
may make it more difficult to effectuate a business combination or increase the cost of acquiring the target business.
50
The
determination of the offering price of our units and the size of this offering is more arbitrary than the pricing of securities
and size of an offering of an operating company in a particular industry. You may have less assurance, therefore, that the offering
price of our units properly reflects the value of such units than you would have in a typical offering of an operating company.
Prior
to this offering there has been no public market for any of our securities. The public offering price of the units and the terms
of the warrants were negotiated between us and the underwriters. In determining the size of this offering, management held customary
organizational meetings with representatives of the underwriters, both prior to our inception and thereafter, with respect to
the state of capital markets, generally, and the amount the underwriters believed they reasonably could raise on our behalf. Factors
considered in determining the size of this offering, prices and terms of the units, including the common stock and warrants underlying
the units, include:
●
the
                                         history and prospects of companies whose principal business is the acquisition of other
                                         companies;
●
prior
                                         offerings of those companies;
●
our
                                         prospects for acquiring an operating business at attractive values;
●
our
                                         capital structure;
●
an
                                         assessment of our management and their experience in identifying operating companies;
●
general
                                         conditions of the securities markets at the time of this offering; and
●
other
                                         factors as were deemed relevant.
Although
these factors were considered, the determination of our offering price is more arbitrary than the pricing of securities of an
operating company in a particular industry since we have no historical operations or financial results.
Provisions
in our amended and restated certificate of incorporation and Delaware law may inhibit a takeover of us, which could limit the
price investors might be willing to pay in the future for our common stock and could entrench management.
Our
amended and restated certificate of incorporation will contain provisions that may discourage unsolicited takeover proposals that
stockholders may consider to be in their best interests. These provisions include the ability of the board of directors to designate
the terms of and issue new series of preferred stock, which may make more difficult the removal of management and may discourage
transactions that otherwise could involve payment of a premium over prevailing market prices for our securities.
We
are also subject to anti-takeover provisions under Delaware law, which could delay or prevent a change of control. Together these
provisions may make more difficult the removal of management and may discourage transactions that otherwise could involve payment
of a premium over prevailing market prices for our securities.
51
Provisions
in our amended and restated certificate of incorporation and Delaware law may have the effect of discouraging lawsuits against
our directors and officers.
Our
amended and restated certificate of incorporation will require, unless we consent in writing to the selection of an alternative
forum, that (i) any derivative action or proceeding brought on our behalf, (ii) any action asserting a claim of breach
of a fiduciary duty owed by any director, officer or other employee to us or our stockholders, (iii) any action asserting
a claim against us, our directors, officers or employees arising pursuant to any provision of the DGCL or our amended and restated
certificate of incorporation or bylaws, or (iv) any action asserting a claim against us, our directors, officers or employees
governed by the internal affairs doctrine may be brought only in the Court of Chancery in the State of Delaware, except any claim
(A) as to which the Court of Chancery of 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 arising under the Securities Act, as to which the Court of Chancery and the federal district court for
the District of Delaware shall have concurrent 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. 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.
Notwithstanding
the foregoing, our amended and restated certificate of incorporation will provide that the exclusive forum provision will not
apply to suits brought to enforce a duty or liability created by the Exchange Act or any other claim for which the federal courts
have exclusive jurisdiction. 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. 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, the provision may have the effect of discouraging lawsuits against our directors and officers.
General
Risks
We
are a newly formed company with no operating history and no revenues, and you have no basis on which to evaluate our ability to
achieve our business objective.
We
are a newly formed company with no operating results, and we will not commence operations until obtaining funding through this
offering. Because we lack an operating history, you have no basis upon which to evaluate our ability to achieve our business objective
of completing our initial business combination with one or more target businesses. We have no plans, arrangements or understandings
with any prospective target business concerning a business combination and may be unable to complete our initial business combination.
If we fail to complete our initial business combination, we will never generate any operating revenues.
If
we are deemed to be an investment company under the Investment Company Act, we may be required to institute burdensome compliance
requirements and our activities may be restricted, which may make it difficult for us to complete our business combination.
If
we are deemed to be an investment company under the Investment Company Act, our activities may be restricted, including, without
limitation, restrictions on the nature of our investments, and restrictions on the issuance of our securities, each of which may
make it difficult for us to complete our business combination. In addition, we may have imposed upon us burdensome requirements,
including, without limitation, registration as an investment company; adoption of a specific form of corporate structure; and
reporting, record keeping, voting, proxy and disclosure requirements and other rules and regulations.
In
order not to be regulated as an investment company under the Investment Company Act, unless we can qualify for an exclusion, we
must ensure that we are engaged primarily in a business other than investing, reinvesting or trading in securities and that our
activities do not include investing, reinvesting, owning, holding or trading "investment securities" constituting
more than 40% of our total assets (exclusive of U.S. government securities and cash items) on an unconsolidated basis. Our business
will be to identify and complete a business combination and thereafter to operate the post-transaction business or assets for
the long term. We do not plan to buy businesses or assets with a view to resale or profit from their resale. We do not plan to
buy unrelated businesses or assets or to be a passive investor.
We
do not believe that our anticipated principal activities will subject us to the Investment Company Act. The proceeds held in the
trust account may be invested by the trustee only in United States government treasury bills with a maturity of 185 days or less
or in money market funds investing solely in United States Treasuries and meeting certain conditions under Rule 2a-7 under
the Investment Company Act. Because the investment of the proceeds will be restricted to these instruments, we believe we will
meet the requirements for the exemption provided in Rule 3a-1 promulgated under the Investment Company Act. If we were
deemed to be subject to the Investment Company Act, compliance with these additional regulatory burdens would require additional
expenses for which we have not allotted funds and may hinder our ability to consummate a business combination. If we are unable
to complete our initial business combination, our public stockholders may receive only approximately $10.00 per share on the liquidation
of our trust account and our warrants will expire worthless.
52
Changes
in laws or regulations, or a failure to comply with any laws and regulations, may adversely affect our business, investments and
results of operations.
We
are subject to laws and regulations enacted by national, regional and local governments. In particular, we will be required to
comply with certain SEC and other legal requirements. Compliance with, and monitoring of, applicable laws and regulations may
be difficult, time consuming and costly. Those laws and regulations and their interpretation and application may also change from
time to time and those changes could have a material adverse effect on our business, investments and results of operations. In
addition, a failure to comply with applicable laws or regulations, as interpreted and applied, could have a material adverse effect
on our business and results of operations.
There
is currently no market for our securities and a market for our securities may not develop, which would adversely affect the liquidity
and price of our securities.
There
is currently no market for our securities. Stockholders therefore have no access to information about prior market history on
which to base their investment decision. Following this offering, the price of our securities may vary significantly due to one
or more potential business combinations and general market or economic conditions. Furthermore, an active trading market for our
securities may never develop or, if developed, it may not be sustained. You may be unable to sell your securities unless a market
can be established and sustained.
We
are an emerging growth company within the meaning of the Securities Act, and we intend to take advantage of certain exemptions
from disclosure requirements available to emerging growth companies, which could make our securities less attractive to investors
and may make it more difficult to compare our performance with other public companies.
We
are an "emerging growth company" within the meaning of the Securities Act, as modified by the JOBS Act, and we intend
to take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that
are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements
of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in our periodic
reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation
and stockholder approval of any golden parachute payments not previously approved. As a result, our stockholders may not have
access to certain information they may deem important. We could be an emerging growth company for up to five years, although circumstances
could cause us to lose that status earlier, including if the market value of our common stock held by non-affiliates exceeds
$700 million as of any June 30 before that time, in which case we would no longer be an emerging growth company as of
the following December 31. We cannot predict whether investors will find our securities less attractive because we will rely on
these exemptions. If some investors find our securities less attractive as a result of our reliance on these exemptions, the trading
prices of our securities may be lower than they otherwise would be, there may be a less active trading market for our securities
and the trading prices of our securities may be more volatile.
53
Further,
Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial
accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared
effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised
financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and
comply with the requirements that apply to non-emerging growth companies but any such an election to opt out is irrevocable.
We have elected not to opt out of such extended transition period which means that when a standard is issued or revised and it
has different application dates for public or private companies, we, as an emerging growth company, can adopt the new or revised
standard at the time private companies adopt the new or revised standard. This may make comparison of our financial statements
with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of
using the extended transition period difficult or impossible because of the potential differences in accounting standards used.
Compliance
obligations under the Sarbanes-Oxley Act may make it more difficult for us to effectuate our initial business combination, require
substantial financial and management resources, and increase the time and costs of completing an acquisition.
Section 404
of the Sarbanes-Oxley Act requires that we evaluate and report on our system of internal controls beginning with our Annual Report
on Form 10-K for the year ending December 31, 2021. Only in the event we are deemed to be a large accelerated filer
or an accelerated filer will we be required to comply with the independent registered public accounting firm attestation requirement
on our internal control over financial reporting. Further, for as long as we remain an emerging growth company, we will not be
required to comply with the independent registered public accounting firm attestation requirement on our internal control over
financial reporting. The fact that we are a blank check company makes compliance with the requirements of the Sarbanes-Oxley Act
particularly burdensome on us as compared to other public companies because a target company with which we seek to complete our
initial business combination may not be in compliance with the provisions of the Sarbanes-Oxley Act regarding adequacy of its
internal controls. The development of the internal control of any such entity to achieve compliance with the Sarbanes-Oxley Act
may increase the time and costs necessary to complete any such acquisition.
54
CAUTIONARY
NOTE REGARDING FORWARD-LOOKING STATEMENTS
Some
statements contained in this prospectus may constitute "forward-looking statements" for purposes of the federal securities
laws. Our forward-looking statements include, but are not limited to, statements regarding our or our management team's
expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections,
forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking
statements. The words "anticipate," "believe," "continue," "could," "estimate,"
"expect," "intends," "may," "might," "plan," "possible,"
"potential," "predict," "project," "should," "would" and similar expressions
may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.
Forward-looking statements in this prospectus may include, for example, statements about:
●
our
                                         ability to select an appropriate target business or businesses;
●
our
                                         ability to complete our initial business combination;
●
our
                                         expectations around the performance of the prospective target business or businesses;
●
our
                                         success in retaining or recruiting, or changes required in, our officers, key employees
                                         or directors following our initial business combination;
●
our
                                         officers and directors allocating their time to other businesses and potentially having
                                         conflicts of interest with our business or in approving our initial business combination,
                                         as a result of which they would then receive expense reimbursements;
●
our
                                         potential ability to obtain additional financing to complete our initial business combination;
●
our
                                         pool of prospective target businesses;
●
the
                                         ability of our officers and directors to generate a number of potential acquisition opportunities;
●
our
                                         public securities' potential liquidity and trading;
●
the
                                         lack of a market for our securities;
●
the
                                         use of proceeds not held in the trust account or available to us from interest income
                                         on the trust account balance;
●
the
                                         trust account not being subject to claims of third parties; or
●
our
                                         financial performance following this offering.
The
forward-looking statements contained in this prospectus are based on our current expectations and beliefs concerning future developments
and their potential effects on us. There can be no assurance that future developments affecting us will be those that we have
anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control)
or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by
these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described under
the heading "Risk Factors." Should one or more of these risks or uncertainties materialize, or should any of our assumptions
prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake
no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise,
except as may be required under applicable securities laws.
55
USE
OF PROCEEDS
We
are offering 10,000,000 units at an offering price of $10.00 per unit. We estimate that the net proceeds of this offering together
with the funds we will receive from the sale of the private placement warrants will be used as set forth in the following table.
Without
Over-Allotment
Option
Over-Allotment
Option
Exercised
Gross
    proceeds
Gross
    proceeds from units offered to public
(1)
$
100,000,000
$
115,000,000
Gross
    proceeds from private placement warrants offered in the private placement
3,500,000
3,800,000
Total
    gross proceeds
$
103,500,000
$
118,800,000
Estimated
    Offering expenses
Underwriting
    discounts and commissions
(2)
2,000,000
2,300,000
Legal
    fees and expenses
225,000
225,000
Nasdaq
    listing and filing fees
75,000
75,000
Underwriter's
    counsel and road show expenses
150,000
150,000
Directors
    and officer's insurance
400,000
400,000
Printing
    and EDGAR filing fees
40,000
40,000
Accounting
    fees and expenses
40,000
40,000
FINRA
    filing fees
18,181
18,181
SEC
    registration fees
12,860
12,860
Miscellaneous
38,959
38,959
Total
    offering expenses (other than underwriting commissions)
$
1,000,000
$
1,000,000
Proceeds
    after offering expenses
$
100,500,000
$
115,500,000
Held
    in trust account
$
100,000,000
$
115,000,000
%
    of public offering size
100
%
100
%
Not
    held in trust account
$
500,000
$
500,000
The
following table shows the use of the approximately $500,000 of net proceeds not held in the trust account.
(3)
Amount
% of Total
Legal,
    accounting, due diligence, travel, and other expenses in connection with any business combination
$
250,000
50.00
%
Legal
    and accounting fees related to regulatory reporting obligations
60,000
12.00
%
Payment
    for office space, administrative and support services
120,000
24.00
%
Working
    capital to cover other miscellaneous expenses
70,000
14.00
%
Total
$
500,000
100.0
%
(1)
Includes
    amounts payable to public stockholders who properly redeem their shares in connection with our successful completion of our
    initial business combination.
(2)
Includes
                                         $1,000,000 that will be used by I-Bankers to acquire 1,000,000 warrants that  will be issued  to our sponsors in lieu of I-Bankers.
(3)
These
    expenses are estimates only. Our actual expenditures for some or all of these items may differ from the estimates set forth
    herein. For example, we may incur greater legal and accounting expenses than our current estimates in connection with negotiating
    and structuring a business combination based upon the level of complexity of such business combination. In the event we identify
    an acquisition target in a specific industry subject to specific regulations, we may incur additional expenses associated
    with legal due diligence and the engagement of special legal counsel. In addition, our staffing needs may vary and, as a result,
    we may engage a number of consultants to assist with legal and financial due diligence. We do not anticipate any change in
    our intended use of proceeds, other than fluctuations among the current categories of allocated expenses, which fluctuations,
    to the extent they exceed current estimates for any specific category of expenses, would not be available for other expenses.
    In addition, in order to finance transaction costs in connection with an intended initial business combination, our initial
    stockholders or an affiliate of our initial stockholders or certain of our officers and directors may, but are not obligated
    to, loan us funds as may be required. If we complete our initial business combination, we would repay such loaned amounts
    out of the proceeds of the trust account released to us. Otherwise, such loans would be repaid only out of funds held outside
    the trust account. In the event that our initial business combination does not close, we may use a portion of the working
    capital held outside the trust account to repay such loaned amounts but no proceeds from our trust account would be used to
    repay such loaned amounts. The terms of such loans, if any, have not been determined and no written agreements exist with
    respect to such loans.
56
The
rules of Nasdaq provide that at least 90% of the gross proceeds from this offering and the private placement be deposited in a
trust account. Of the net proceeds of this offering and the sale of the private placement warrants, $100,000,000 (or $115,000,000
if the underwriters' over-allotment option is exercised in full) will be placed in a trust account with Continental Stock
Transfer & Trust Company acting as trustee and will be invested only in U.S. government treasury bills with a maturity
of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company
Act which invest only in direct U.S. government treasury obligations. Based on current interest rates, and assuming no exercise
of the over-allotment option, we estimate that the interest earned on the trust account will be approximately $60,000 per year,
assuming an interest rate of 0.06% per year; however, we can provide no assurances regarding this amount. We will not be permitted
to withdraw any of the principal or interest held in the trust account, except with respect to interest earned on the funds held
in the trust account that may be released to us to pay our taxes, if any. The proceeds from this offering will not be released
from the trust account until the earliest of (i) the completion of our initial business combination, (ii) the redemption
of any public shares properly tendered in connection with a stockholder vote to amend our amended and restated certificate of
incorporation (A) to modify the substance or timing of our obligation to redeem 100% of our public shares if we do not complete
our initial business combination within 18 months (or up to 24 months from the closing of this offering if we extend the period
of time to consummate a business combination, as described in more detail in this prospectus)from the closing of this offering
or (B) with respect to any other provision relating to stockholders' rights or pre-business combination activity,
and (iii) the redemption of all of our public shares if we are unable to complete our business combination within 18 months
(or up to 24 months from the closing of this offering if we extend the period of time to consummate a business combination, as
described in more detail in this prospectus)from the closing of this offering, subject to applicable law. Based on current interest
rates, interest earned on the trust account may not be sufficient to pay taxes.
The
net proceeds held in the trust account may be used as consideration to pay the sellers of a target business with which we ultimately
complete our initial business combination. If our initial business combination is paid for using equity or debt securities, or
not all of the funds released from the trust account are used for payment of the consideration in connection with our initial
business combination, we may apply the balance of the cash released from the trust account for general corporate purposes, including
for maintenance or expansion of operations of the post-transaction company, the payment of principal or interest due on indebtedness
incurred in completing our initial business combination, to fund the purchase of other companies or for working capital.
We
believe that amounts not held in trust will be sufficient to pay the costs and expenses to which such proceeds are allocated.
This belief is based on the fact that while we may begin preliminary due diligence of a target business in connection with an
indication of interest, we intend to undertake in-depth due diligence, depending on the circumstances of the relevant
prospective acquisition, only after we have negotiated and signed a letter of intent or other preliminary agreement that addresses
the terms of a business combination. However, if our estimate of the costs of undertaking in-depth due diligence and
negotiating a business combination is less than the actual amount necessary to do so, we may be required to raise additional capital,
the amount, availability and cost of which is currently unascertainable. If we are required to seek additional capital, we could
seek such additional capital through loans or additional investments from our initial stockholders, members of our management
team or their affiliates, but such persons are not under any obligation to advance funds to, or invest in, us.
57
We
will enter into an Administrative Services Agreement pursuant to which we will pay (commencing on the effective date of this registration
statement) an affiliate of one of our officers a total of $5,000 per month. We believe these types of arrangements are customary
among many SPACs. Upon completion of our initial business combination or our liquidation, we will cease paying these monthly fees.
Prior
to the closing of this offering, our sponsors have agreed to loan us up to $300,000, in the form of a promissory note,
to be used for a portion of the expenses of this offering. Separately, as of February 9, 2021, we have borrowed $27,963 from our
sponsors as related party loans. The loans and promissory note are non-interest bearing and unsecured. The promissory
note is due at the earlier of June 30, 2021 or the successful closing of this offering. The related party loans are due for repayment
within six months of January 29, 2021 in cash or issuance of shares and/or warrants of equivalent value. The promissory note would
be forgiven if the offering does not close. The cash available for repayment of the loans and note would be from the $500,000
of offering proceeds that has been allocated to the payment of offering expenses.
In
addition, in order to finance transaction costs in connection with an intended initial business combination, our initial stockholders
or an affiliate of our initial stockholders or certain of our officers and directors may, but are not obligated to, loan us funds
as may be required. If we complete our initial business combination, we would repay such loaned amounts out of the proceeds of
the trust account released to us. Otherwise, such loans would be repaid only out of funds held outside the trust account. In the
event that our initial business combination does not close, we may use a portion of the working capital held outside the trust
account to repay such loaned amounts but no proceeds from our trust account would be used to repay such loaned amounts. Up to
$1,500,000 of such loans may be convertible, at the option of the lender, into warrants at a price of $1.00 per warrant
of the post business combination entity. The warrants would be identical to the private placement warrants, including as to exercise
price, exercisability and exercise period. The terms of such loans by our initial stockholders, officers and directors, if any,
have not been determined and no written agreements exist with respect to such loans. We do not expect to seek loans from parties
other than our initial stockholders or an affiliate of our initial stockholders as we do not believe third parties will be willing
to loan such funds and provide a waiver against any and all rights to seek access to funds in our trust account.
DIVIDEND
POLICY
We
have not paid any cash dividends on our common stock to date and do not intend to pay cash dividends prior to the completion of
our initial business combination. The payment of cash dividends in the future will be dependent upon our revenues and earnings,
if any, capital requirements and general financial condition subsequent to completion of our initial business combination. The
payment of any cash dividends subsequent to our initial business combination will be within the discretion of our board of directors
at such time. In addition, our board of directors is not currently contemplating and does not anticipate declaring any stock dividends
in the foreseeable future, except if we increase the size of the offering, in which case we will effect a stock dividend or other
appropriate mechanism immediately prior to the consummation of the offering in an amount as to maintain the ownership of our initial
stockholders prior to this offering at 20.0% of our issued and outstanding shares of common stock upon the consummation of this
offering (excluding the Representative's shares). Further, if we incur any indebtedness in connection with our business
combination, our ability to declare dividends may be limited by restrictive covenants we may agree to in connection therewith.
58
DILUTION
The
difference between the public offering price per share of common stock, assuming no value is attributed to the warrants included
in the units we are offering pursuant to this prospectus, and the pro forma net tangible book value per share of our common stock
after this offering constitutes the dilution to investors in this offering. Such calculation does not reflect any dilution associated
with the exercise of warrants, including the private placement warrants, which would cause the actual dilution to the public stockholders
to be higher, particularly where a cashless exercise is utilized. Net tangible book value per share is determined by dividing
our net tangible book value, which is our total tangible assets less total liabilities (including the value of common stock which
may be redeemed for cash), by the number of outstanding shares of our common stock.
At
February 9, 2021, our net tangible book deficit was $15,576, or approximately $(0.006) per share of common stock. After giving
effect to the sale of 10,000,000 shares of common stock included in the units we are offering by this prospectus and the sale
of the private placement warrants, and the deduction of underwriting commissions and estimated expenses of this offering, our
pro forma net tangible book value at February 9, 2021 would have been $5,000,007 or $1.56 per share (or $1.39 per
share, if the underwriters' over-allotment option is exercised in full), representing an immediate increase in net tangible
book value of $1.57 per share (or $1.39 if the over-allotment option is exercised in full) to our initial stockholders
as of the date of this prospectus. For purposes of presentation, we have reduced our pro forma net tangible book value after this
offering (assuming no exercise of the underwriters' over-allotment option) by $95,531,160 (or $110,531,535
assuming full exercise of the over-allotment option) because holders of up to approximately 95.53% of our public shares
(or 96.11% assuming full exercise of the over-allotment option) may redeem their shares for a pro rata share of the aggregate
amount then on deposit in the trust account at a per-share redemption price equal to the amount in the trust account
as set forth in our tender offer or proxy materials (initially anticipated to be the aggregate amount held in trust two days prior
to the commencement of our tender offer or stockholders meeting, including interest (which interest shall be net of taxes payable)
divided by the number of shares of common stock sold in this offering).
The
following table illustrates the dilution to the public stockholders on a per-share basis, assuming no value is attributed
to the warrants included in the units:
Without
Over-allotment
With
Over-allotment
Public
    offering price
$
10.00
$
10.00
Net
    tangible book value before this offering
$
(0.006
)
(0.005
)
Increase
    attributable to public shares and private placement warrants
$
1.570
1.390
Pro
    forma net tangible book value after this offering and the sale of the private placement warrants
$
1.564
$
1.385
Dilution
    to public stockholders
$
8.436
$
8.615
Percentage
    of dilution to new investors
84.36
%
86.15
%
The
following table sets forth information with respect to our initial stockholders and the public stockholders:
Shares
    Purchased
Total
    Consideration
Average
Price per
Number
Percentage
Amount
Percentage
Share
Initial
    stockholders
(1)
2,500,000
19.61
%
$
28,750
0.03
%
$
0.01
Representative shares
250,000
1.96
%
2,500
0.00
%
$
0.01
Public
    stockholders
10,000,000
78.43
%
100,000,000
99.97
%
$
10.00
12,750,000
100.00
%
$
100,031,250
100.00
%
(1)
Assumes
    the full forfeiture of 375,000 shares that are subject to forfeiture by our sponsors depending on the extent to which the
    underwriters' over-allotment option is exercised.
59
The
pro forma net tangible book value per share after the offering is calculated as follows:
Without
Over-allotment
With
Over-allotment
Numerator:
Net
    tangible book value before this offering
$
(15,576
)
$
(15,576
)
Net
    proceeds from this offering and private placements
100,500,000
115,500,000
Net
    proceeds from representative shares
2,500
2,875
Plus:
    Offering costs paid in advance, excluded from tangible book value
44,243
44,243
Less:
    Proceeds held in trust subject to conversion/tender
(95,531,160
)
(110,531,535
)
$
5,000,007
$
5,000,007
Denominator:
Shares
    of common stock outstanding prior to this offering
2,875,000
2,875,000
Shares
    of common stock forfeited if over-allotment option is not exercised
(375,000
)
—
Shares
    of common stock included in the units offered
10,000,000
11,500,000
Representative
    shares
250,000
287,500
Less:
    shares subject to redemption
(9,552,891
)
(11,052,895
)
3,197,109
3,609,605
60
CAPITALIZATION
The
following table sets forth our capitalization at February 9, 2021, and as adjusted to give effect to the sale of 10,000,000 units
in this offering for $100,000,000 (or $10.00 per unit) and the sale of 3,500,000 private placement warrants for $3,500,000 (or
$1.00 per private placement warrants) and the application of the estimated net proceeds (excluding net working capital of $500,000
not held in the trust account) derived from the sale of such securities:
February
    9, 2021
Actual
As
    Adjusted
(1)
Loan
payable to related party
(2)
$
27,963
$
—
Common
    stock subject to possible redemption, -0- shares actual and 9,552,891 shares as adjusted
(3)
—
95,528,910
Stockholders'
    equity:
Preferred
    stock, $0.01 par value, shares authorized 0 (actual), 1,000,000 shares (as adjusted); no shares issued or
    outstanding (actual and as adjusted)
—
—
Common
    Stock. $0.01par value, shares authorized 10,000,000 (actual), 100,000,000 shares (as adjusted); 2,875,000 shares
    issued and outstanding (actual); 12,750,000 shares issued and outstanding (as adjusted)
28,750
127,500
Additional paid-in capital
—
4,872,590
Accumulated
    deficit
(83
)
(83
)
Total
    stockholders' equity
28,667
5,000,007
Total
    capitalization
$
56,630
$
100,528,917
(1)
Assumes the full forfeiture
    of 375,000 shares that are subject to forfeiture by our sponsors depending on the extent to which the underwriters'
    over-allotment option is exercised. The proceeds of the sale of such shares will not be deposited into the trust account,
    the shares will not be eligible for redemption from the trust account nor will they be eligible to vote upon the initial business
    combination.
(2)
Represents borrowings from our sponsor. In addition,
    an affiliate of our sponsors may loan us up to an aggregate of $300,000 under an unsecured promissory note to be used for
    a portion of the expenses of this offering. The loans and promissory note are non-interest bearing. The loan is due to
    be repaid within six months of January 29, 2021. The promissory note is due at either the earlier of June 30, 2021 or the
    closing of this offering. This would be forgiven if the offering was abandoned. Subsequent to February 9, 2021, we have
    drawn $19,965 under the $300,000 promissory note.
(3)
Upon the completion of our initial business
    combination, we will provide our public 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 as of two business days prior to the consummation
    of the initial business combination, including interest (which interest shall be net of taxes payable) subject to the limitations
    described herein whereby our net tangible assets will be maintained at a minimum of $5,000,001 either immediately before or
    after the consummation of our initial business combination and any limitations (including, but not limited to, cash requirements)
    created by the terms of the proposed business combination.
61
MANAGEMENT'S
DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Overview
We
are a blank check company incorporated on January 21, 2021 as a Delaware corporation and formed for the purpose of effecting a
merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or
more businesses. We have not selected any specific business combination target and we have not, nor has anyone on our behalf,
engaged in any substantive discussions directly or indirectly, with any business combination target with respect to an initial
business combination with us. While our efforts in identifying a prospective target business for our initial business combination
will not be limited to a particular industry or geographic region, we intend to initially focus our search on identifying a prospective
target business in the healthcare industry. We intend to effectuate our initial business combination using cash from the proceeds
of this offering, shares issued to the owners of the target, debt issued to bank or other lenders or the owners of the target,
additional equity raised through a public or private offering, or a combination of the foregoing.
The
issuance of additional shares in connection with a business combination to the owners of the target or other investors:
●
may
                                         significantly dilute the equity interest of investors in this offering;
●
may
                                         subordinate the rights of holders of common stock if shares of preferred stock are issued
                                         with rights senior to those of our common stock;
●
could
                                         cause a change in control if a substantial number of shares of our common stock are issued,
                                         which may affect, among other things, our ability to use our net operating loss carry
                                         forwards, if any, and could result in the resignation or removal of our present officers
                                         and directors;
●
may
                                         have the effect of delaying or preventing a change of control of us by diluting the share
                                         ownership or voting rights of a person seeking to obtain control of us; and
●
may
                                         adversely affect prevailing market prices for our common stock and/or warrants.
Similarly,
if we issue debt securities or otherwise incur significant debt to bank or other lenders or the owners of a target, it could result
in:
●
default
                                         and foreclosure on our assets if our operating revenues after an initial business combination
                                         are insufficient to repay our debt obligations;
●
acceleration
                                         of our obligations to repay the indebtedness even if we make all principal and interest
                                         payments when due if we breach certain covenants that require the maintenance of certain
                                         financial ratios or reserves without a waiver or renegotiation of that covenant;
●
our
                                         immediate payment of all principal and accrued interest, if any, if the debt is payable
                                         on demand;
●
our
                                         inability to obtain necessary additional financing if the debt contains covenants restricting
                                         our ability to obtain such financing while the debt is outstanding;
●
our
                                         inability to pay dividends on our common stock;
●
using
                                         a substantial portion of our cash flow to pay principal and interest on our debt, which
                                         will reduce the funds available for dividends on common stock if declared, expenses,
                                         capital expenditures, acquisitions and other general corporate purposes;
●
limitations
                                         on our flexibility in planning for and reacting to changes in our business and in the
                                         industry in which we operate;
●
increased
                                         vulnerability to adverse changes in general economic, industry and competitive conditions
                                         and adverse changes in government regulation; and
●
limitations
                                         on our ability to borrow additional amounts for expenses, capital expenditures, acquisitions,
                                         debt service requirements, execution of our strategy and other purposes and other disadvantages
                                         compared to our competitors who have less debt.
62
As
indicated in the accompanying financial statements, at February 9, 2021, we had deferred offering costs of $44,243. Further, we
expect to incur significant additional offering costs and costs in the pursuit of our initial business combination. We cannot
assure you that our plans to raise capital or to complete our initial business combination will be successful.
Results
of Operations and Known Trends or Future Events
We
have neither engaged in any operations nor generated any revenues to date. Our only activities since inception have been organizational
activities and those necessary to prepare for this offering. Following this offering, we will not generate any operating revenues
until after completion of our initial business combination. We will generate non-operating income in the form of interest
income on cash and cash equivalents after this offering. There has been no significant change in our financial or trading position
and no material adverse change has occurred since the date of our audited financial statements. After this offering, we expect
to incur increased expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance),
as well as for due diligence expenses. We expect our expenses to increase substantially after the closing of this offering.
Liquidity
and Capital Resources
Our
liquidity needs have been satisfied  through the payment by our initial stockholders of
$28,750 to cover certain of our offering costs in exchange for the issuance of certain of the founder shares to our initial stockholders
and up to $300,000 in loans available from our sponsors.
We
estimate that the net proceeds from the sales of the units in this offering and the private placement warrants, after deducting
offering expenses of approximately $500,000 and underwriting discounts and commissions of $2,000,000 (excluding potential business
combination marketing fees payable to I-Bankers of $2,750,000 or $3,162,500 if the over-allotment option is exercised
in full) will be $100,500,000. $100,000,000 will be held in the trust account, which includes funds for the business combination
marketing fees described above. If the underwriters' over-allotment option is exercised in full, we estimate that the net
proceeds from the sales of the units in this offering and the private placement warrants, after deducting offering expenses of
approximately $500,000 and underwriting discounts and commissions of $2,300,000 (excluding the potential business combination
marketing fees payable to I-Bankers of $3,162,500), will be $115,750,000. $115,000,000 will be held in the trust account,
which includes the funds for potential business combination marketing fees described above. The proceeds held in the trust account
will be invested only in U.S. government treasury obligations with a maturity of 185 days or less or in money market funds meeting
certain conditions under Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government treasury
obligations. The remaining approximately $500,000 will not be held in the trust account. In the event that our offering expenses
exceed our estimate of $500,000, we may fund such excess with funds not to be held in the trust account. In such case, the amount
of funds we intend to be held outside the trust account would decrease by a corresponding amount. Conversely, in the event that
the offering expenses are less than our estimate of $500,000, the amount of funds we intend to be held outside the trust account
would increase by a corresponding amount.
We
intend to use substantially all of the funds held in the trust account, including any amounts representing interest earned on
the trust account (excluding the business combination marketing fees payable to I-Bankers) to complete our initial business
combination. We may withdraw interest to pay our taxes and liquidation expenses if we are unsuccessful in completing a business
acquisition. We estimate our annual franchise tax obligations, based on the number of shares of our common stock authorized and
outstanding after the completion of this offering, to be $200,000, which is the maximum amount of annual franchise taxes payable
by us as a Delaware corporation per annum, which we may pay from funds from this offering held outside of the trust account or
from interest earned on the funds held in the trust account and released to us for this purpose. Our annual income tax obligations
will depend on the amount of interest and other income earned on the amounts held in the trust account reduced by our operating
expense and franchise taxes. We expect the interest earned on the amount in the trust account will be sufficient to pay our income
taxes. To the extent that our equity or debt is used, in whole or in part, as consideration to complete our initial business combination,
the remaining proceeds held in the trust account will be used as working capital to finance the operations of the target business
or businesses, make other acquisitions and pursue our growth strategies.
Prior
to the completion of our initial business combination, we will have available to us the approximately $500,000 of proceeds held
outside the trust account. We will use these funds primarily to pay expenses associated with being a public company and to identify
and evaluate target businesses, perform business due diligence on prospective target businesses, travel to and from the offices,
plants or similar locations of prospective target businesses or their representatives or owners, review corporate documents and
material agreements of prospective target businesses, and structure, negotiate and complete a business combination.
63
We
do not believe we will need to raise additional funds following this offering in order to meet the expenditures required for operating
our business prior to our initial business combination. However, if our estimates of the costs of identifying a target business,
undertaking in-depth due diligence and negotiating an initial business combination are less than the actual amount necessary
to do so, we may have insufficient funds available to operate our business prior to our initial business combination. In order
to fund working capital deficiencies or finance transaction costs in connection with an intended initial business combination,
our initial stockholders or one of its affiliates or certain of our officers and directors may, but are not obligated to, loan
us funds as may be required. If we complete our initial business combination, we would repay such loaned amounts (subject to the
conversion rights described below). In the event that our initial business combination does not close, we may use a portion of
the working capital held outside the trust account to repay such loaned amounts but no proceeds from our trust account would be
used for such repayment. Up to $1,500,000 of such loans may at the option of the lender determined at the time of the loan be
convertible into private placement warrants at a price of $1.00 per warrant of the post business combination entity. The warrants
would be identical to the private placement warrants, including as to exercise price, exercisability and exercise period. The
terms of such loans, if any, have not been determined and no written agreements exist with respect to such loans. Prior to the
completion of our initial business combination, we do not expect to seek loans from parties other than our initial stockholders
or their affiliates as we do not believe third parties will be willing to loan such funds and provide a waiver against any and
all rights to seek access to funds in our trust account.
We
expect our primary liquidity requirements during the period after this offering and prior to our initial business combination
to include approximately $250,000 for legal, accounting, due diligence, travel and other expenses associated with structuring,
negotiating and documenting successful business combinations; $60,000 for legal and accounting fees related to regulatory reporting
requirements; $240,000 for office space, secretarial and administrative services; and approximately $200,000 for general working
capital that will be used for miscellaneous expenses and reserves.
These
amounts are estimates and may differ materially from our actual expenses. In addition, we could use a portion of the funds not
being placed in trust to pay commitment fees for financing, fees to consultants to assist us with our search for a target business
or as a down payment or to fund a "no-shop" provision (a provision designed to keep target businesses from
"shopping" around for transactions with other companies or investors on terms more favorable to such target businesses)
with respect to a particular proposed business combination, although we do not have any current intention to do so. If we entered
into an agreement where we paid for the right to receive exclusivity from a target business, the amount that would be used as
a down payment or to fund a "no-shop" provision would be determined based on the terms of the specific business
combination and the amount of our available funds at the time. Our forfeiture of such funds (whether as a result of our breach
or otherwise) could result in our not having sufficient funds to continue searching for, or conducting due diligence with respect
to, prospective target businesses.
Moreover,
we may need to obtain additional financing to complete our initial business combination, either because the transaction requires
more cash than is available from the proceeds held in our trust account or because we become obligated to redeem a significant
number of our public shares upon completion of the business combination, in which case we may issue additional securities or incur
debt in connection with such business combination. In addition, we intend to target businesses with enterprise values that are
greater than we could acquire with the net proceeds of this offering and the sale of the private placement warrants, and, as a
result, if the cash portion of the purchase price exceeds the amount available from the trust account, net of amounts needed to
satisfy any redemptions by public stockholders, we may be required to seek additional financing to complete such proposed initial
business combination. We may also obtain financing prior to the closing of our initial business combination to fund our working
capital needs and transaction costs in connection with our search for and completion of our initial business combination. There
is no limitation on our ability to raise funds through the issuance of equity or equity-linked securities or through loans, advances
or other indebtedness in connection with our initial business combination, including pursuant to forward purchase agreements or
backstop agreements we may enter into following consummation of this offering. Subject to compliance with applicable securities
laws, we would only complete such financing simultaneously with the completion of our initial business combination. If we are
unable to complete our initial business combination because we do not have sufficient funds available to us, we will be forced
to cease operations and liquidate the trust account. In addition, following our initial business combination, if cash on hand
is insufficient, we may need to obtain additional financing in order to meet our obligations.
64
Controls
and Procedures
We
will be required to comply with the internal control requirements of the Sarbanes-Oxley Act for the fiscal year ending December 31,
2021. Only in the event that we are deemed to be a large accelerated filer or an accelerated filer and no longer an emerging growth
company would we be required to comply with the independent registered public accounting firm attestation requirement. Further,
for as long as we remain an emerging growth company as defined in the JOBS Act, we intend to take advantage of certain exemptions
from various reporting requirements that are applicable to other public companies that are not emerging growth companies including,
but not limited to, not being required to comply with the independent registered public accounting firm attestation requirement.
Prior
to the closing of this offering, we have not completed an assessment, nor has our independent registered public accounting firm
tested our systems, of internal controls. We expect to assess the internal controls of our target business or businesses prior
to the completion of our initial business combination and, if necessary, to implement and test additional controls as we may determine
are necessary in order to state that we maintain an effective system of internal controls. A target business may not be in compliance
with the provisions of the Sarbanes-Oxley Act regarding the adequacy of internal controls. Many small and mid-sized target
businesses we may consider for our initial business combination may have internal controls that need improvement in areas such
as:
●
staffing
                                         for financial, accounting and external reporting areas, including segregation of duties;
●
reconciliation
                                         of accounts;
●
proper
                                         recording of expenses and liabilities in the period to which they relate;
●
evidence
                                         of internal review and approval of accounting transactions;
●
documentation
                                         of processes, assumptions and conclusions underlying significant estimates; and
●
documentation
                                         of accounting policies and procedures.
Because
it will take time, management involvement and perhaps outside resources to determine what internal control improvements are necessary
for us to meet regulatory requirements and market expectations for our operation of a target business, we may incur significant
expenses in meeting our public reporting responsibilities, particularly in the areas of designing, enhancing, or remediating internal
and disclosure controls. Doing so effectively may also take longer than we expect, thus increasing our exposure to financial fraud
or erroneous financing reporting.
Once
our management's report on internal controls is complete, we will retain our independent registered public accounting firm
to audit and render an opinion on such report when required by Section 404 of the Sarbanes-Oxley Act. The independent registered
public accounting firm may identify additional issues concerning a target business's internal controls while performing
their audit of internal control over financial reporting.
Quantitative
and Qualitative Disclosures about Market Risk
The
net proceeds of this offering and the sale of the private placement warrants held in the trust account will be invested in U.S.
government treasury obligations with a maturity of 185 days or less or in money market funds meeting certain conditions under
Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government treasury obligations. Due to
the short-term nature of these investments, we believe there will be no associated material exposure to interest rate risk.
Off-Balance Sheet
Arrangements; Commitments and Contractual Obligations; Quarterly Results
As
of February 9, 2021, we did not have any off-balance sheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S-K and
did not have any commitments or contractual obligations. No unaudited quarterly operating data is included in this prospectus
as we have not conducted any operations to date.
65
JOBS
Act
The
JOBS Act contains provisions that, among other things, relax certain reporting requirements for qualifying public companies. We
will qualify as an "emerging growth company" and under the JOBS Act will be allowed to comply with new or revised
accounting pronouncements based on the effective date for private (not publicly traded) companies. We are electing to delay the
adoption of new or revised accounting standards, and as a result, we may not comply with new or revised accounting standards on
the relevant dates on which adoption of such standards is required for non-emerging growth companies. As a result, our
financial statements may not be comparable to companies that comply with new or revised accounting pronouncements as of public
company effective dates.
Additionally,
we are in the process of evaluating the benefits of relying on the other reduced reporting requirements provided by the JOBS Act.
Subject to certain conditions set forth in the JOBS Act, if, as an "emerging growth company," we choose to rely on
such exemptions we may not be required to, among other things, (i) provide an independent registered public accounting firm's
attestation report on our system of internal controls over financial reporting pursuant to Section 404, (ii) provide all
of the compensation disclosure that may be required of non-emerging growth public companies under the Dodd-Frank Wall
Street Reform and Consumer Protection Act, (iii) comply with any requirement that may be adopted by the PCAOB regarding mandatory
audit firm rotation or a supplement to the independent registered public accounting firm's report providing additional information
about the audit and the financial statements (auditor discussion and analysis), and (iv) disclose certain executive compensation
related items such as the correlation between executive compensation and performance and comparisons of the CEO's compensation
to median employee compensation. These exemptions will apply for a period of five years following the completion of this offering
or until we are no longer an "emerging growth company," whichever is earlier.
66
PROPOSED
BUSINESS
Overview
We
are a blank check company incorporated in Delaware formed for the purpose of acquiring, engaging in a share exchange, share reconstruction
and amalgamation with, purchasing all or substantially all of the assets of, entering into contractual arrangements with, or engaging
in any other similar business combination with one or more businesses or entities, which we refer to throughout this prospectus
as our initial business combination. Although we are not limited to a particular industry or geographic region for purposes of
consummating an initial business combination, we intend to we intend to focus on B2B enterprise software companies, particularly
those operating in the customer engagement space within the telecommunications, retail and financial services industries in North
America and Western Europe, ideally those with a recurring revenue model and an overall transaction value of at least $400 million.
We have not identified any acquisition target and we have not, nor has anyone on our behalf, initiated any discussions to identify
any acquisition target. From the date of our formation through the date of this prospectus, there have been no communications
or discussions between any of our officers, directors or our sponsors and any of their contacts or relationships regarding a potential
initial business combination with our company. Additionally, we have not engaged or retained any agent or other representative
to identify or locate any suitable acquisition candidate, to conduct any research or take any measures, directly or indirectly,
to locate or contact a target business.
The customer engagement arena has been
growing and evolving at a rapid pace over the past few years. Given its critical importance to enterprises,
we expect the growth of the space to accelerate in the years to come. COVID has also accelerated the speed of adoption
of various customer engagement solutions by enterprises due to the increased need to digitally engage with
customers. Accordingly, we expect a large number of private companies to need capital due to attractive acquisition
opportunities. In addition, we see COVID as a long-term catalyst in accelerating the broader adoption of customer
engagement solutions.
We intend to employ a proactive acquisition
strategy focused on identifying potential business combination targets in the chosen space. Likely targets will include
software companies operating within the overall customer engagement sector for various industry verticals. We believe strongly
in our management team's ability to add value from both an operating and a financing perspective, which has been a key driver
of our past successes and which we believe will continue to be central to our differentiated acquisition strategy.
Our
ideal target company profile:
(1)
Operates
                                         in the B2B enterprise software arena with a recurring revenue business model
(2)
Provides
                                         services
to the telecom,
                                         financial services, or retail sectors
(3)
Utilizes
                                         big data analytics technologies, advanced artificial intelligence/machine learning algorithms,
                                         cloud capabilities, and IoT-friendly infrastructure
Business
Strategy
We
will seek to create compelling stockholder value by leveraging the track record, strong network, and complementary experience
of our management team and sponsors, which includes experts in nearly all facets of the telecommunications, retail and financial
services sectors and strong expertise in investment management. Highlights of our team include the following:
Subash
Menon, Chief Executive Officer and Chairman of the Board
●
Currently
                                         CEO and Co-founder of Pelatro (LON: PTRO), a Customer Engagement enterprise software
                                         company listed on the Alternative Investment Market ("AIM") and the London
                                         Stock Exchange ("LSE"). Having founded Pelatro in 2013, Mr. Menon has propelled
                                         the growth of the company to its current stage with currently approximately 200 employees
                                         across five offices and an enterprise customer base of 21 companies across 17 countries.
                                         Mr. Menon guided Pelatro through a successful initial public offering ("IPO")
                                         on the LSE in 2017.
●
As
                                         former CEO and Founder of Subex Limited, Mr. Menon grew and transformed a start-up
                                         into a publicly-traded enterprise software company
providing
                                         digital trust products to communication service providers. At its peak under Mr. Menon's
                                         leadership, Subex had over 1,400 employees across 10 offices  and generated over $110 million
                                         in revenue across an enterprise customer base of approximately 200 companies. During Mr. Menon's
                                         tenure, Subex achieved a market cap of approximately $430 million and received the "NASSCOM
                                         Innovation Award" from the President of India.
●
Guided
                                         company through multiple acquisitions in the UK, US and Canada and through a
                                         successful IPO in 1999 in India: National Stock Exchange (NSE: SUBEXLTD) and Bombay
                                         Stock Exchange (BSE: 532348).
●
Financial
                                         instruments of Subex are listed on stock exchanges in London, Luxembourg and Singapore.
●
Degree
                                         in Electrical Engineering with Honors from the prestigious NIT, Durgapur in India and
                                         is a Distinguished Alumnus.
67
Sudeesh
Yezhuvath, Chief Operating Officer and Director
●
Three
                                         decades of experience in the telecom industry. Areas of expertise include post-merger
                                         integration, sales, marketing, product management, technical operations and human
                                         resources.
●
Currently
                                         COO, Co-Founder and Executive Director of Pelatro, a Customer Engagement enterprise
                                         software company listed on the AIM and LSE.
●
Former
                                         COO and Member of the Board of Directors at Subex Ltd. At Subex, oversaw Post-Merger
                                         Integration of its many acquisitions including the then-largest cross-border software
                                         product acquisition from India.
●
B.Tech
degree from the University of Calicut.
●
S
uccessfully
worked together with Mr. Menon for two decades, having built and grown two successful enterprise software companies and navigated
them through IPOs.
Nicholos
Hellyer, Chief Financial Officer
●
Currently
                                         Finance Director of Pelatro Plc; responsible for all financial aspects of the IPO process,
                                         including historic reporting and IFRS conversion.
●
Former
                                         Senior Investment Banker at UBS, HSBC, and Opus Corporate Finance; advised small and
                                         midcap companies in a broad range of transactions, including IPOs, fundraisings and M&A
                                         for growth and entrepreneurial companies with values ranging typically from $50 to $250
                                         mln.
●
Previously
                                         held non-executive director roles in companies quoted on the UK AIM and the Swedish Nasdaq
                                         First North markets.
●
Qualified
                                         as a Chartered Accountant with KPMG.
●
B.Sc.
                                         (First Class Honors) in Geography and Geology from Kings College London.
Dr.
Hossein Eslambolchi, Independent Director Nominee
●
Chairman
                                         and CEO of CyberFlow Analytics, a cyber-intelligence software-as-a-service ("SaaS)
                                         company, and 2020 Venture Partners, which provides
technology
                                         and operations consulting to Private Equity Firms and Venture Capitalists in
                                         the areas of Telecommunication Infrastructure, Network Intelligence and Information
                                         and Communications Technology ("ICT").
●
Director
                                         of Clearwire Corporation from 2010-2013 and is on the Board of Directors for Hyperoffice,
a privately-held enterprise software company
                                         offering
web collaboration, online meeting, web conferencing, online
                                         database and email marketing applications to the small and mid-sized business segment.
●
Joined
                                         AT&T Bell Laboratories in 1986 and rose to become global CTO and CIO, President
                                         and CEO of AT&T Labs and AT&T Global Network Services and was a 16b officer of
                                         the company as of 2001. Served on AT&T's governing Executive Committee.
●
Regarded
                                         in scientific community as expert in IP network design and reliability, security, IP
                                         technologies, services and IP applications. Known for establishing industry
                                         standard business processes such as the "Concept of One" and the "Concept
                                         of Zero," and the "Concept of None,"
which
                                         have been applied effectively to streamline production processes.
Also
known
                                         in the industry for the "Eslambolchi Law of Complexity," a unique model
                                         designed to govern telecom protocols.
●
Serves
                                         on Board of Advisors to the University of California San Diego School Of Engineering,
                                         Allegis Capital VC, SquareZero, RainStor, Prodapt, Tickets48 and PureWave Networks. Dr.
                                         Eslambolchi also serves as a member of the Board of Trustees for the Shiraz University
                                         School of Medical Sciences in New York City.
●
BS,
                                         MS, Ph.D. and Post Doc degrees in Applied & Astro Physics along with MD in Neurosurgery
                                         with highest honors from University of California San Diego.
68
●
Sample
                                         Achievements:
●
Holds
                                         over 1,000 patents worldwide
●
AT&T
                                         Fellow Award, AT&T's highest technical honor, 1999
●
Thomas
                                         Alva Edison Inventor of the Year Award by the New Jersey Inventors Hall of Fame, 1997
                                         and 2013.
●
Top
                                         100 alumni in the history of the University of California San Diego
Vishant
Vora, Independent Director
●
Technology
                                         executive with over 30 years of experience in the telecom industry across the Americas,
                                         Europe and Asia
●
Currently
                                         President of Global Operations and Managed Services at Mavenir
(approximately
                                         $427 million in revenue in 2019)
with responsibility for
global
                                         end-to-end business operations including network design, rollout and deployments, solutions
                                         and systems integration services, managed services and related strategic initiatives
●
Mr.
                                         Vora
led the technological
                                         transformation at Vodafone Romania as the CTO helping to grow the subscriber base over
                                         12 times
●
Also
a member of the Vodafone
                                         Global Technology Board responsible for the technological direction and strategy for
                                         the Vodafone Group
●
As
                                         CTO of Vodafone Idea, India, Mr. Vora successfully integrated the networks and
                                         operations of Vodafone and Idea into a global behemoth with over 300 million subscribers
●
At
                                         Vodafone Idea, India, Mr. Vora oversaw a budget of approximately $4.5 billion
                                         while leading a team of 6,000 people
●
Awarded
                                         the
"CTO of
                                         the Year in India" award in 2014
●
Alumnus
of the Harvard Business
                                         School where he completed the General Management Program in Business Administration
●
Degree
in Electrical Engineering
                                         from Lawrence Technological University, US
Dr.
Kumar Shiralagi, Independent Director Nominee
●
Investment
                                         advisor in the VC/PE industry since 2003
●
Former
                                         Managing Director at Kalaari Capital Advisors in India. Kalaari manages over $650 million
                                         and has several investments in the business-to-consumer ("B2C") space
                                         including milkbasket, Zivame and Snapdeal. Previously served as India
                                         country head and Director for Intel Capital's investments in South Asia. Intel
                                         Capital is a fund set up by Intel Corporation, focused on emerging technologies including
                                         cloud, artificial intelligence/machine learning, edge computing and cyber
                                         security. Intel Capital's past investments include companies such as
                                         Broadcom and RedHat. Dr. Shiralagi served in key roles as an investor and a board
                                         member for the investments made by Kalaari and Intel Capital.
●
Scientist
                                         at Motorola Research Laboratories in the field of high-speed devices, optoelectronics
                                         and nanotechnology and published over 60 papers in reputable journals and has 23 issued
                                         patents.
●
Worked
                                         at
Motorola Ventures,
                                         the global investment arm of Motorola Solutions which invests in
mission
                                         critical communications, video security & analytics, and public safety workflow software
till 1999.
●
Co-founder
                                         and COO at Lytek Corporation in Phoenix AZ, a manufacturer of surface emitting lasers.
●
MBA
                                         from Thunderbird
●
Bachelors
                                         in Electronics and Communications from National Institute of Technology, Surathkal in
                                         1984; MS and PhD in Electrical Engineering from Arizona State University.
Our
directors and officers have deep relationships within the software industry and within the end user industries like telecommunications,
financial services and retail. This extensive and deep pool of knowledge, experience and expertise will guide the corporation
successfully with respect to all aspects of business, including strategy, identification of appropriate targets, acquisition,
integration and operations.
69
Market
Opportunity
Although
we are not limited to a particular industry or geographic region for purposes of consummating an initial business combination,
we intend to focus on B2B enterprise software companies, particularly those operating in the Customer Engagement space
within the telecommunications, retail and financial services sectors. We will target businesses located in North America
and Western Europe, ideally those with a recurring revenue model and an overall transaction value between of at least $400
million.
Customer
Engagement is the process of interacting with customers, either enterprise customers or consumers, through a variety of channels
in order to strengthen relationships with them. Today, given the extremely high volume of interactions that take place in real
time, customer engagement solutions utilize artificial intelligence/ machine learning and leverage big data to more effectively
model and understand customer behavior, expectations and preferences. Such solutions drive revenue and better retention by enabling
enterprises to more effectively communicate and interact with their customers through a superior digital experience. Today's
customer engagement solutions cover a wide variety of applications including communication and fulfillment. These are often implemented
in omni-channel engagement models utilizing a variety of modes and touchpoints including CRM platforms, web chat, social media,
bots, instant messaging platforms, apps and customer self-service.
The
sponsors of Bannix Acquisition Corp. have particular expertise with B2B2X models ("business to business to X"), where
"X" represents any type of end user, either enterprises or consumers. Having successfully developed customer engagement
solutions for telecom companies operating within a B2B2X paradigm, we believe the current landscape provides for tremendous opportunities
to acquire similar companies across the retail and financial services sectors.
We
believe the target universe of enterprise software companies offering Customer Engagement solutions is robust, particularly
due to increasing demands and expectations of both enterprise customers and individual consumers. The below graph shows the strong
projected growth of the Customer Engagement Solutions market.
Global
Customer Engagement Solutions Market
Source:
Mordor Intelligence Report (CUSTOMER ENGAGEMENT SOLUTIONS MARKET - GROWTH, 	TRENDS, AND FORECAST 2020-2025)
70
The graph given below
provides considerable insight into the experience of consumers and customer experience professionals.
Sources:
Forrester Consulting, Aberdeen Group and Gartner Inc.
Given
the disenchantment of consumers and the industry practitioners with the depth and quality of engagement, the market is expected
to expand significantly in the coming years for innovative solutions. Further, an increasing number of enterprises will opt for
these solutions to increase engagement with consumers, improve the digital experience of consumers, enhance brand awareness and
deliver higher customer satisfaction. Consequently, demand is expected to grow robustly in all sectors, particularly in the sectors
that we plan to focus on. Growth projections and market sizes are provided in the graphs given below.
Sources:
Grand View Research Report (Telecom Services Market Size, Share & Trends Analysis 2020-2027); The Business Research Company
(Retail Global Market Report 2021: COVID-19 Impact And Recovery To 2030) and The Business Research Company Report (Financial Services
Global Market Report 2021: COVID-19 Impact And Recovery To 2030
.
71
Acquisition
Criteria
We
will seek to identify companies that have compelling market presence, growth potential and a combination of the following characteristics.
We will use these criteria and guidelines in evaluating acquisition opportunities, but we may decide to enter our initial business
combination with a target business that does not meet these criteria and guidelines. We intend to acquire companies or assets
that we believe have the following attributes:
●
Growth
                                         Potential: high growth history and future trajectory in revenue top line, above industry
                                         average
●
Competitive
                                         Position: Leading or growing market share compared to peer group
●
Management
                                         Team: Talented, highly motivated, experienced with strong execution track record.
●
Profitability
                                         or visible path to profitability: Strong business economics and good operating results
                                         leading to profitability
●
Operational
                                         Efficiency: Possibility to improve through introduction of processes.
These
criteria are not intended to be exhaustive. Any evaluation relating to the merits of a particular initial business combination
may be based, to the extent relevant, on these general guidelines as well as other considerations, factors and criteria that our
management may deem relevant.
We
are not prohibited from pursuing an initial business combination or subsequent transaction with a company that is affiliated with
our advisors or our sponsors, officers or directors. In the event we seek to complete our initial business combination with a
company that is affiliated with our sponsors, officers or directors, we will obtain an opinion from an independent investment
banking firm which is a member of FINRA or an independent valuation or accounting firm that such initial business combination
or transaction is fair to our company from a financial point of view.
We
currently do not have any specific business combination under consideration. Our officers and directors have neither individually
selected nor considered a target business, nor have they had any substantive discussions regarding possible target businesses
among themselves or with our underwriters or other advisors. Additionally, we have not, nor has anyone on our behalf, taken any
substantive measure, directly or indirectly, to select or locate any suitable acquisition candidate for us, nor have we engaged
or retained any agent or other representative to select or locate any such acquisition candidate.
With
respect to the foregoing descriptions, past performance of our management team including the members of our board of directors,
is not a guarantee either (i) of success with respect to any business combination we may consummate or (ii) that we
will be able to identify a suitable candidate for our initial business combination. You should not rely on the historical performance
record of our management team or members of our board of directors as indicative of our future performance. Our officers and directors
have not had experience with blank check companies or special purpose acquisition companies in the past. In addition, our directors
and executive officers may have conflicts of interest with other entities to which they owe fiduciary or contractual obligations
with respect to initial business combination opportunities. For a list of our directors and executive officers and entities for
which a conflict of interest may or does exist between such directors and officers and the company, as well as the priority and
preference that such entity has with respect to performance of obligations and presentation of business opportunities to us, please
refer to the table and subsequent explanatory paragraph under "Management — Conflicts of Interest."
72
Effecting
Our Initial Business Combination
We
are not presently engaged in, and we will not engage in, any operations for an indefinite period of time following this offering.
We intend to complete our initial business combination using cash from the proceeds of this offering and the private placement
of the private placement units, our share capital, debt or a combination of these as the consideration to be paid in our initial
business combination. We may seek to complete our initial business combination with a company or business that may be financially
unstable or in its early stages of development or growth, which would subject us to the numerous risks inherent in such companies
and businesses, although we will not be permitted to effectuate our initial business combination with another blank check company
or a similar company with nominal operations.
If
our initial business combination is paid for using equity or debt securities, or not all of the funds released from the trust
account are used for payment of the consideration in connection with our business combination or used for redemptions of our ordinary
shares, we may apply the balance of the cash released to us from the trust account for general corporate purposes, including for
maintenance or expansion of operations of the post-transaction company, the payment of principal or interest due on indebtedness
incurred in completing our initial business combination, to fund the purchase of other assets, companies or for working capital.
We
may seek to raise additional funds through a private offering of debt or equity securities in connection with the completion of
our initial business combination (which may include a specified future issuance), and we may complete our initial business combination
using the proceeds of such offering rather than using the amounts held in the trust account. Subject to compliance with applicable
securities laws, we would expect to complete such financing only simultaneously with the completion of our business combination.
In the case of an initial business combination funded with assets other than the trust account assets, our tender offer documents
or proxy materials disclosing the business combination would disclose the terms of the financing and, only if we determine necessary
for business reasons or if required by law, we would seek stockholder approval of such financing. There are no prohibitions on
our ability to raise funds privately, including pursuant to any specified future issuance, or through loans in connection with
our initial business combination. At this time, we are not a party to any arrangement or understanding with any third party with
respect to raising any additional funds through the sale of securities or otherwise.
The
time required to select and evaluate a target business and to structure and complete our initial business combination, and the
costs associated with this process, are not currently ascertainable with any degree of certainty. Any costs incurred with respect
to the identification and evaluation of a prospective target business with which our business combination is not ultimately completed
will result in our incurring losses and will reduce the funds we can use to complete another business combination.
So
long as we obtain and maintain a listing for our securities on Nasdaq, our initial business combination must be with one or more
target businesses that together have an aggregate fair market value equal to at least 80% of the value of the assets held in the
trust account (excluding taxes payable on the interest earned on the trust account) at the time of our signing a definitive agreement
in connection with our initial business combination. If our board of directors is not able to independently determine the fair
market value of the target business or businesses, we will obtain an opinion from an independent investment banking firm that
is a member of FINRA, or an independent accounting firm with respect to the satisfaction of such criteria. Additionally, pursuant
to Nasdaq rules, any initial business combination must be approved by a majority of our independent directors.
73
We
anticipate structuring our initial business combination so that the post-transaction company in which our public stockholders
own shares will own or acquire 100% of the equity interests or assets of the target business or businesses. We may, however, structure
our initial business combination such that the post-transaction company owns or acquires less than 100% of such interests or assets
of the target business in order to meet certain objectives of the target management team or stockholders or for other reasons.
However, we will only complete such business combination if the post-transaction company owns or acquires 50% or more of the outstanding
voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required
to register as an investment company under the Investment Company Act. Even if the post-transaction company owns or acquires 50%
or more of the voting securities of the target, our stockholders prior to the business combination may collectively own a minority
interest in the post-transaction company, depending on valuations ascribed to the target and us in the business combination transaction.
For example, we could pursue a transaction in which we issue a substantial number of new shares in exchange for all of the outstanding
capital stock of a target. In this case, we would acquire a 100% controlling interest in the target. However, as a result of the
issuance of a substantial number of new shares, our stockholders immediately prior to our initial business combination could own
less than a majority of our outstanding shares subsequent to our initial business combination. If less than 100% of the equity
interests or assets of a target business or businesses are owned or acquired by the post-transaction company, the portion of such
business or businesses that is owned or acquired is what will be valued for purposes of the 80% of net assets test. If the business
combination involves more than one target business, the 80% of net assets test will be based on the aggregate value of all of
the target businesses and we will treat the target businesses together as the initial business combination for purposes of a tender
offer or for seeking stockholder approval, as applicable.
Sourcing
of Potential Business Combination Targets
We
expect to receive a number of proprietary transaction opportunities to originate as a result of the business relationships, direct
outreach, and deal sourcing activities from the network built up by our management team, including the members of our board of
directors. We also anticipate that target business candidates will be brought to our attention from various unaffiliated sources,
including investment banking firms, consultants, accounting firms, private equity groups, large business enterprises, and other
market participants. These sources may also introduce us to target businesses in which they think we may be interested on an unsolicited
basis, since many of these sources will have read this prospectus and know what types of businesses we are targeting. Some of
our officers and directors may enter into employment or consulting agreements with the post-transaction company following
our initial business combination. The presence or absence of any such fees or arrangements will not be used as a criterion in
our selection process of an acquisition candidate. In no event will our sponsors or any of our existing officers or directors,
or any entity with which they are affiliated, be paid any finder's fee, consulting fee or other compensation prior to, or
for any services they render in order to effectuate, the completion of our initial business combination (regardless of the type
of transaction that it is).
We
are not prohibited from pursuing an initial business combination with a business combination target that is affiliated with our
sponsors, officers or directors. In the event we seek to complete our initial business combination with a business combination
target that is affiliated with our sponsors, officers or directors, we, or a committee of independent directors, would obtain
an opinion from an independent investment banking firm which is a member of FINRA or an independent accounting firm that such
an initial business combination is fair to our company from a financial point of view. We are not required to obtain such an opinion
in any other context. As more fully discussed in the section of this prospectus entitled "Management — Conflicts
of Interest," if any of our officers or directors becomes aware of a business combination opportunity that falls within
the line of business of any entity to which he or she has pre-existing fiduciary or contractual obligations, he or she may
be required to present such business combination opportunity to such entity prior to presenting such business combination opportunity
to us, subject to his or her fiduciary duties under Delaware law. As a result of these duties and obligations, situations may
arise in which business opportunities may be given to one or more of these other entities prior to being presented to us.
Financial
Position
With
funds available for a business combination initially in the amount of $100,000,000 assuming no redemptions (or $115,000,000 assuming
no redemptions and the underwriters' over-allotment option is exercised in full), we offer a target business a variety of
options such as creating a liquidity event for its owners, providing capital for the potential growth and expansion of its operations
or strengthening its balance sheet by reducing its debt ratio. This amount includes up to $2,750,000 of the business combination
marketing fee payable to I-Bankers (or up to $3,162,500 if the underwriters' over-allotment option is exercised
in full). Because we are able to complete our initial business combination using our cash, debt or equity securities, or a combination
of the foregoing, we have the flexibility to use the most efficient combination that will allow us to tailor the consideration
to be paid to the target business to fit its needs and desires. However, we have not taken any steps to secure third party financing
and there can be no assurance it will be available to us.
74
Lack
of Business Diversification
For
an indefinite period of time after the completion of our initial business combination, the prospects for our success may depend
entirely on the future performance of a single business. Unlike other entities that have the resources to complete business combinations
with multiple entities in one or several industries, it is probable that we will not have the resources to diversify our operations
and mitigate the risks of being in a single line of business. In addition, we intend to focus our search for an initial business
combination in a single industry. By completing our business combination with only a single entity, our lack of diversification
may:
●
subject
                                         us to negative economic, competitive and regulatory developments, any or all of which
                                         may have a substantial adverse impact on the particular industry in which we operate
                                         after our initial business combination, and
●
cause
                                         us to depend on the marketing and sale of a single product or limited number of products
                                         or services.
Limited
ability to evaluate the target's management team
Although
we intend to closely scrutinize the management of a prospective target business when evaluating the desirability of effecting
our business combination with that business, our assessment of the target business' management may not prove to be correct.
In addition, the future management may not have the necessary skills, qualifications or abilities to manage a public company.
Furthermore, the future role of members of our management team including our board of directors, if any, in the target business
cannot presently be stated with any certainty. While it is possible that one or more of our directors will remain associated in
some capacity with us following our business combination, it is presently unknown if any of them will devote their full efforts
to our affairs subsequent to our business combination. Moreover, we cannot assure you that members of our management team will
have significant experience or knowledge relating to the operations of the particular target business. The determination as to
whether any members of our board of directors will remain with the combined company will be made at the time of our initial business
combination.
Following
a business combination, to the extent that we deem it necessary, we may seek to recruit additional managers to supplement the
incumbent management team of the target business. We cannot assure you that we will have the ability to recruit additional managers,
or that additional managers will have the requisite skills, knowledge or experience necessary to enhance the incumbent management
Stockholders
may not have the ability to approve our initial business combination
We
may conduct redemptions without a stockholder vote pursuant to the tender offer rules of the SEC. However, we will seek stockholder
approval if it is required by law or applicable stock exchange rule, or we may decide to seek stockholder approval for business
or other legal reasons. Presented in the table below is a graphic explanation of the types of initial business combinations we
may consider and whether stockholder approval is currently required under Delaware law for each such transaction.
Type
    of Transaction
Whether
Stockholder
Approval is
Required
Purchase
    of assets
No
Purchase
    of stock of target not involving a merger with the company
No
Merger
    of target into a subsidiary of the company
No
Merger
    of the company with a target
Yes
75
Under
Nasdaq's listing rules, stockholder approval would be required for our initial business combination if, for example:
●
we
                                         issue shares of common stock that will be equal to or in excess of 20% of the number
                                         of shares of our common stock then outstanding (other than in a public offering);
●
any
                                         of our directors, officers or substantial stockholders (as defined by Nasdaq rules) has
                                         a 5% or greater interest (or such persons collectively have a 10% or greater interest),
                                         directly or indirectly, in the target business or assets to be acquired or otherwise
                                         and the present or potential issuance of common stock could result in an increase in
                                         outstanding common shares or voting power of 5% or more; or
●
the
                                         issuance or potential issuance of common stock will result in our undergoing a change
                                         of control.
Permitted
purchases of our securities
In
the event we seek stockholder approval of our business combination and we do not conduct redemptions in connection with our business
combination pursuant to the tender offer rules, our initial stockholders, directors, officers, advisors or their affiliates may
purchase shares in privately negotiated transactions or in the open market either prior to or following the completion of our
initial business combination. However, they have no current commitments, plans or intentions to engage in such transactions and
have not formulated any terms or conditions for any such transactions. None of the funds in the trust account will be used to
purchase shares in such transactions. They will not make any such purchases when they are in possession of any material non-public information
not disclosed to the seller or if such purchases are prohibited by Regulation M under the Exchange Act. Such a purchase may include
a contractual acknowledgement that such stockholder, although still the record holder of our shares is no longer the beneficial
owner thereof and therefore agrees not to exercise its redemption rights. Subsequent to the consummation of this offering, we
will adopt an insider trading policy which will require insiders to: (i) refrain from purchasing shares during certain blackout
periods and when they are in possession of any material non-public information and (ii) to clear all trades with
our legal counsel prior to execution. We cannot currently determine whether our insiders will make such purchases pursuant to
a Rule 10b5-1 plan, as it will be dependent upon several factors, including but not limited to, the timing and
size of such purchases. Depending on such circumstances, our insiders may either make such purchases pursuant to a Rule 10b5-1 plan
or determine that such a plan is not necessary.
In
the event that our initial stockholders, directors, officers, advisors or their affiliates purchase shares in privately negotiated
transactions from public stockholders who have already elected to exercise their redemption rights, such selling stockholders
would be required to revoke their prior elections to redeem their shares. We do not currently anticipate that such purchases,
if any, would constitute a tender offer subject to the tender offer rules under the Exchange Act or a going-private transaction
subject to the going-private rules under the Exchange Act; however, if the purchasers determine at the time of any such purchases
that the purchases are subject to such rules, the purchasers will comply with such rules.
The
purpose of such purchases would be to (i) vote such shares in favor of the business combination and thereby increase the
likelihood of obtaining stockholder approval of the business combination or (ii) to satisfy a closing condition in an agreement
with a target that requires us to have a minimum net worth or a certain amount of cash at the closing of our business combination,
where it appears that such requirement would otherwise not be met. This may result in the completion of our business combination
that may not otherwise have been possible.
In
addition, if such purchases are made, the public "float" of our common stock may be reduced and the number of beneficial
holders of our securities may be reduced, which may make it difficult to maintain or obtain the quotation, listing or trading
of our securities on a national securities exchange.
Our
initial stockholders, officers, directors and/or their affiliates anticipate that they may identify the stockholders with whom
our initial stockholders, officers, directors or their affiliates may pursue privately negotiated purchases by either the stockholders
contacting us directly or by our receipt of redemption requests submitted by stockholders following our mailing of proxy materials
in connection with our initial business combination. To the extent that our initial stockholders, officers, directors, advisors
or their affiliates enter into a private purchase, they would identify and contact only potential selling stockholders who have
expressed their election to redeem their shares for a pro rata share of the trust account or vote against the business combination.
Our initial stockholders, officers, directors, advisors or their affiliates will only purchase shares if such purchases comply
with Regulation M under the Exchange Act and the other federal securities laws.
76
Any
purchases by our initial stockholders, officers, directors and/or their affiliates who are affiliated purchasers under Rule 10b-18 under
the Exchange Act will only be made to the extent such purchases are able to be made in compliance with Rule 10b-18, which
is a safe harbor from liability for manipulation under Section 9(a)(2) and Rule 10b-5 of the Exchange Act. Rule 10b-18 has
certain technical requirements that must be complied with in order for the safe harbor to be available to the purchaser. Our initial
stockholders, officers, directors and/or their affiliates will not make purchases of common stock if the purchases would violate
Section 9(a)(2) or Rule 10b-5 of the Exchange Act.
Ability
to Extend Time to Complete Business Combination
We
will have until 18 months from the closing of this offering to consummate our initial business combination. However, if we anticipate
that we may not be able to consummate our initial business combination within 18 months, we may, by resolution of our board of
directors if requested by our sponsors, extend the period of time to consummate a business combination up to two times, each by
an additional three months (for a total of up to 24 months to complete a business combination), subject to the sponsors depositing
additional funds into the trust account as set out below. Pursuant to the terms of our amended and restated certificate of incorporation
and the trust agreement to be entered into between us and Continental Stock Transfer & Trust Company, LLC on the date of this
prospectus, in order to extend the time available for us to consummate our initial business combination, our initial stockholders
or their affiliates or designees, upon five days advance notice prior to the applicable deadline, must deposit into the trust
account for each three-month extension, $1,000,000, or $1,150,000 if the underwriters' over-allotment option is exercised
in full ($0.10 per share in either case) on or prior to the date of the applicable deadline, up to an aggregate of $2,000,000
(or $2,300,000 if the underwriters' over-allotment option is exercised in full), or approximately $0.20 per share. In the
event that we receive notice from our sponsors five days prior to the applicable deadline of its wish for us to effect an extension,
we intend to issue a press release announcing such intention at least three days prior to the applicable deadline. In addition,
we intend to issue a press release the day after the applicable deadline announcing whether or not the funds had been timely deposited.
Our sponsors and its affiliates or designees are not obligated to fund the trust account to extend the time for us to complete
our initial business combination.
Redemption
rights for public stockholders upon completion of our initial business combination
We
will provide our public stockholders with the opportunity to redeem all or a portion of their shares of common stock upon the
completion of our initial business combination at a per-share price, payable in cash, equal to the aggregate amount
then on deposit in the trust account as of two business days prior to the consummation of the initial business combination, including
interest (which interest shall be net of taxes payable) divided by the number of then outstanding public shares, subject to the
limitations described herein. The amount in the trust account is initially anticipated to be approximately $10.00 per public share
(subject to increase of up to an additional approximately $0.20 per share in the event that our sponsors elect to extend the period
of time to consummate a business combination, as described in more detail in this prospectus). The per share amount we will distribute
to stockholders who properly exercise their redemption rights will not be reduced by the fee payable to I-Bankers pursuant
to the business combination marketing agreement. See the section entitled "Underwriting — Business Combination Marketing
Agreement." Our sponsors, officers and directors have entered into a letter agreement with us, pursuant to which they have
agreed to waive their redemption rights with respect to their founder shares and any public shares they may hold in connection
with the completion of our business combination, 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 the prescribed time
frame.
Manner
of Conducting Redemptions
We
will provide our public stockholders with the opportunity to redeem all or a portion of their shares of common stock upon the
completion of our initial business combination either (i) in connection with a stockholder meeting called to approve the
business combination or (ii) by means of a tender offer. The decision as to whether we will seek stockholder approval of
a proposed business combination or conduct a tender offer will be made by us, solely in our discretion, and will be based on a
variety of factors such as the timing of the transaction and whether the terms of the transaction would require us to seek stockholder
approval under the law or stock exchange listing requirement. Under Nasdaq rules, asset acquisitions and stock purchases would
not typically require stockholder approval while direct mergers with our company where we do not survive and any transactions
where we issue more than 20% of our outstanding common stock or seek to amend our amended and restated certificate of incorporation
would require stockholder approval. We may conduct redemptions without a stockholder vote pursuant to the tender offer rules of
the SEC unless stockholder approval is required by law or stock exchange listing requirement or we choose to seek stockholder
approval for business or other legal reasons. So long as we obtain and maintain a listing for our securities on Nasdaq, we would
be required to comply with such rules.
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If
a stockholder vote is not required and we do not decide to hold a stockholder vote for business or other legal reasons, we will,
pursuant to our amended and restated certificate of incorporation:
●
conduct
                                         the redemptions pursuant to Rule 13e-4 and Regulation 14E of the Exchange Act,
                                         which regulate issuer tender offers, and
●
file
                                         tender offer documents with the SEC prior to completing our initial business combination
                                         which contain substantially the same financial and other information about the initial
                                         business combination and the redemption rights as is required under Regulation 14A of
                                         the Exchange Act, which regulates the solicitation of proxies.
Upon
the public announcement of our initial business combination, we or our initial stockholders will terminate any plan established
in accordance with Rule 10b5-1 to purchase shares of our common stock in the open market if we elect to redeem our public
shares through a tender offer, to comply with Rule 14e-5 under the Exchange Act.
In
the event we conduct redemptions pursuant to the tender offer rules, our offer to redeem will remain open for at least 20 business
days, in accordance with Rule 14e-1(a) under the Exchange Act, and we will not be permitted to complete our initial
business combination until the expiration of the tender offer period. In addition, the tender offer will be conditioned on public
stockholders not tendering more than a specified number of public shares which are not purchased by our initial stockholders,
which number will be based on the requirement that we may not redeem public shares in an amount that would cause our net tangible
assets to be less than $5,000,001 both immediately before and after the consummation of our initial business combination (so that
we are not subject to the SEC's "penny stock" rules) or any greater net tangible asset or cash requirement which
may be contained in the agreement relating to our initial business combination. If public stockholders tender more shares than
we have offered to purchase, we will withdraw the tender offer and not complete the initial business combination.
If,
however, stockholder approval of the transaction is required by law or stock exchange listing requirement, or we decide to obtain
stockholder approval for business or other legal reasons, we will, pursuant to our amended and restated certificate of incorporation:
●
conduct
                                         the redemptions in conjunction with a proxy solicitation pursuant to Regulation 14A of
                                         the Exchange Act, which regulates the solicitation of proxies, and not pursuant to the
                                         tender offer rules, and
●
file
                                         proxy materials with the SEC.
In
the event that we seek stockholder approval of our initial business combination, we will distribute proxy materials and, in connection
therewith, provide our public stockholders with the redemption rights described above upon completion of the initial business
combination.
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 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. Our sponsors, executive officers and directors
will count toward this quorum and have agreed to vote their founder shares and any public shares purchased during or after this
offering in favor of our initial business combination. These quorum and voting thresholds, and the voting agreements of our sponsors,
executive officers and directors may make it more likely that we will consummate our initial business combination. Each public
stockholder may elect to redeem its public shares irrespective of whether they vote for or against the proposed transaction. In
addition, our sponsors, officers and directors have entered into a letter agreement with us, pursuant to which they have agreed
to waive their redemption rights with respect to their founder shares and public shares in connection with the completion of a
business combination.
78
Our
amended and restated certificate of incorporation will provide that in no event will we redeem our public shares in an amount
that would cause our net tangible assets to be less than $5,000,001 both immediately before and after the consummation of our
initial business combination (so that we are not subject to the SEC's "penny stock" rules). Redemptions of our
public shares may also be subject to a higher net tangible asset test or cash requirement pursuant to an agreement relating to
our initial business combination. For example, the proposed business combination may require: (i) cash consideration to be
paid to the target or its owners, (ii) cash to be transferred to the target for working capital or other general corporate
purposes or (iii) the retention of cash to satisfy other conditions in accordance with the terms of the proposed business
combination. In the event the aggregate cash consideration we would be required to pay for all shares of common stock that are
validly submitted for redemption plus any amount required to satisfy cash conditions pursuant to the terms of the proposed business
combination exceed the aggregate amount of cash available to us, we will not complete the business combination or redeem any shares,
and all shares of common stock submitted for redemption will be returned to the holders thereof.
Limitation
on redemption upon completion of our initial business combination if we seek stockholder approval
Notwithstanding
the foregoing, if we seek stockholder approval of our initial business combination and we do not conduct redemptions in connection
with our business combination pursuant to the tender offer rules, our amended and restated certificate of incorporation will provide
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 seeking
redemption rights with respect to Excess Shares. We believe this restriction will discourage stockholders from accumulating large
blocks of shares, and subsequent attempts by such holders to use their ability to exercise their redemption rights against a proposed
business combination as a means to force us, our initial stockholders or our management to purchase their shares at a significant
premium to the then-current market price or on other undesirable terms. Absent this provision, a public stockholder holding an
aggregate of 15% or more of the shares sold in this offering could threaten to exercise its redemption rights if such holder's
shares are not purchased by us, our initial stockholders or our management at a premium to the then-current market price or on
other undesirable terms. By limiting our stockholders' ability to redeem to less than 15% of the shares sold in this offering,
we believe we will limit the ability of a small group of stockholders to unreasonably attempt to block our ability to complete
our business combination, particularly in connection with a business combination with a target that requires as a closing condition
that we have a minimum net worth or a certain amount of cash. However, we would not be restricting our stockholders' ability
to vote all of their shares (including Excess Shares) for or against our business combination.
Tendering
stock certificates in connection with a tender offer or redemption rights
We
may require our public stockholders seeking to exercise their redemption rights, whether they are record holders or hold their
shares in "street name," to either tender their certificates to our transfer agent prior to the date set forth in
the tender offer documents mailed to such holders, or up to two business days prior to the vote on the proposal to approve the
business combination in the event we distribute proxy materials, or to deliver their shares to the transfer agent electronically
using Depository Trust Company's DWAC (Deposit/Withdrawal At Custodian) System, at the holder's option. The tender
offer or proxy materials, as applicable, that we will furnish to holders of our public shares in connection with our initial business
combination will indicate whether we are requiring public stockholders to satisfy such delivery requirements. Accordingly, a public
stockholder would have from the time we send out our tender offer materials until the close of the tender offer period, or up
to two business days prior to the vote on the business combination if we distribute proxy materials, as applicable, to tender
its shares if it wishes to seek to exercise its redemption rights. Given the relatively short exercise period, it is advisable
for stockholders to use electronic delivery of their public shares.
There
is a nominal cost associated with the above-referenced tendering process and the act of certificating the shares or delivering
them through the DWAC System. The transfer agent will typically charge the tendering broker and it would be up to the broker whether
or not to pass the cost on to the redeeming holder. However, the fee would be incurred regardless of whether or not we require
holders seeking to exercise redemption rights to tender their shares. The need to deliver shares is a requirement of exercising
redemption rights regardless of the timing of when such delivery must be effectuated.
79
The
foregoing is different from the procedures used by some blank check companies. In order to perfect redemption rights in connection
with their business combinations, many blank check companies would distribute proxy materials for the stockholders' vote
on an initial business combination, and a holder could simply vote against a proposed business combination and check a box on
the proxy card indicating such holder was seeking to exercise his or her redemption rights. After the business combination was
approved, the company would contact such stockholder to arrange for him or her to deliver his or her certificate to verify ownership.
As a result, the stockholder then had an "option window" after the completion of the business combination during which
he or she could monitor the price of the company's stock in the market. If the price rose above the redemption price, he
or she could sell his or her shares in the open market before actually delivering his or her shares to the company for cancellation.
As a result, the redemption rights, to which stockholders were aware they needed to commit before the stockholder meeting, would
become "option" rights surviving past the completion of the business combination until the redeeming holder delivered
its certificate. The requirement for physical or electronic delivery prior to the meeting ensures that a redeeming holder's
election to redeem is irrevocable once the business combination is approved.
Any
request to redeem such shares, once made, may be withdrawn at any time up to the date set forth in the tender offer materials
or the date of the stockholder meeting set forth in our proxy materials, as applicable. Furthermore, if a holder of a public share
delivered its certificate in connection with an election of redemption rights and subsequently decides prior to the applicable
date not to elect to exercise such rights, such holder may simply request that the transfer agent return the certificate (physically
or electronically). It is anticipated that the funds to be distributed to holders of our public shares electing to redeem their
shares will be distributed promptly after the completion of our initial business combination.
If
our initial business combination is not approved or completed for any reason, then our public stockholders who elected to exercise
their redemption rights would not be entitled to redeem their shares for the applicable pro rata share of the trust account. In
such case, we will promptly return any certificates delivered by public holders who elected to redeem their shares.
If
our initial business combination is not completed, we may continue to try to complete a business combination with a different
target until 18 months from the closing of this offering.
Redemption
of public shares and liquidation if no initial business combination
We
will have only 18 months (or up to 24 months from the closing of this offering if we extend the period of time to consummate a
business combination, as described in more detail in this prospectus) from the closing of this offering to complete our initial
business combination. If we are unable to complete our initial business combination within such 18-month period (or
up to 24 months from the closing of this offering if we extend the period of time to consummate a business combination, as described
in more detail in this prospectus), we will: (i) cease all operations except for the purpose of winding up, (ii) as
promptly as reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-share price,
payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest (less up to $100,000 of
interest to pay dissolution expenses, which interest shall be net of taxes payable) 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 liquidation 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. There will be no redemption rights or liquidating distributions with respect to our warrants, which will expire worthless
if we fail to complete our initial business combination within the 18-month time period (or up to 24 months from the
closing of this offering if we extend the period of time to consummate a business combination, as described in more detail in
this prospectus).
Our
initial stockholders have agreed to waive their rights to liquidating distributions from the trust account with respect to their
founder shares if we fail to complete our initial business combination within 18 months (or up to 24 months from the closing of
this offering if we extend the period of time to consummate a business combination, as described in more detail in this prospectus)
from the closing of this offering. However, if our initial stockholders acquire public shares in or after this offering, they
will be entitled to liquidating distributions from the trust account with respect to such public shares if we fail to complete
our initial business combination within the allotted 18-month (or up to 24 months from the closing of this offering
if we extend the period of time to consummate a business combination, as described in more detail in this prospectus)time period.
80
Our
sponsors, officers and directors have agreed, pursuant to a written letter agreement with us, that they will not propose any amendment
to our amended and restated certificate of incorporation that would affect (i) the substance or timing of our obligation
to redeem 100% of our public shares if we do not complete our initial business combination within 18 months from the closing of
this offering or (ii) with respect to any other provision relating to stockholders' rights or pre-business combination
activity, unless we provide our public stockholders with the opportunity to redeem their shares of common stock upon approval
of any such amendment at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust
account, including interest (which interest shall be net of taxes payable) divided by the number of then outstanding public shares.
However, we may not redeem our public shares in an amount that would cause our net tangible assets to be less than $5,000,001
both immediately before and after the consummation of our initial business combination (so that we are not subject to the SEC's
"penny stock" rules). If this optional redemption right is exercised with respect to an excessive number of public
shares such that we cannot satisfy the net tangible asset requirement (described above), we would not proceed with the amendment
or the related redemption of our public shares at such time.
We
expect that all costs and expenses associated with implementing our plan of dissolution, as well as payments to any creditors,
will be funded from amounts remaining out of the $500,000 of proceeds held outside the trust account, although we cannot assure
you that there will be sufficient funds for such purpose. However, if those funds are not sufficient to cover the costs and expenses
associated with implementing our plan of dissolution, to the extent that there is any interest accrued in the trust account not
required to pay taxes, we may request the trustee to release to us an additional amount of up to $100,000 of such accrued interest
to pay those costs and expenses.
If
we were to expend all of the net proceeds of this offering and the private placement, other than the proceeds deposited in the
trust account, and without taking into account interest, if any, earned on the trust account, the per-share redemption
amount received by stockholders upon our dissolution would be approximately $10.00. The proceeds deposited in the trust account
could, however, become subject to the claims of our creditors which would have higher priority than the claims of our public stockholders.
We cannot assure you that the actual per-share redemption amount received by stockholders will not be substantially
less than $10.00. Under Section 281(b) of the DGCL, our plan of dissolution must provide for all claims against us to be
paid in full or make provision for payments to be made in full, as applicable, if there are sufficient assets. These claims must
be paid or provided for before we make any distribution of our remaining assets to our stockholders. While we intend to pay such
amounts, if any, we cannot assure you that we will have funds sufficient to pay or provide for all creditors' claims.
Although
we will seek to have all vendors, service providers, prospective target businesses or other entities with which we do business
execute agreements with us waiving any right, title, interest or claim of any kind in or to any monies held in the trust account
for the benefit of our public stockholders, there is no guarantee that they will execute such agreements or even if they execute
such agreements that they would be prevented from bringing claims against the trust account including but not limited to fraudulent
inducement, breach of fiduciary responsibility or other similar claims, as well as claims challenging the enforceability of the
waiver, in each case in order to gain an advantage with respect to a claim against our assets, including the funds held in the
trust account. If any third party refuses to execute an agreement waiving such claims to the monies held in the trust account,
our management will perform an analysis of the alternatives available to it and will only enter into an agreement with a third
party that has not executed a waiver if management believes that such third party's engagement would be significantly more
beneficial to us than any alternative. Examples of possible instances where we may engage a third party that refuses to execute
a waiver include the engagement of a third party consultant whose particular expertise or skills are believed by management to
be significantly superior to those of other consultants that would agree to execute a waiver or in cases where management is unable
to find a service provider willing to execute a waiver. In addition, there is no guarantee that such entities will agree to waive
any claims they may have in the future as a result of, or arising out of, any negotiations, contracts or agreements with us and
will not seek recourse against the trust account for any reason. In order to protect the amounts held in the trust account, our
sponsors have agreed that it will be liable to us if and to the extent any claims by a vendor for services rendered or products
sold to us, or a prospective target business with which we have discussed entering into a transaction agreement, reduce the amount
of funds in the trust account to below (i) $10.00 per public share or (ii) such lesser amount per public share held in the
trust account as of the date of the liquidation of the trust account, due to reductions in value of the trust assets, in each
case net of the amount of interest which may be withdrawn to pay taxes, except as to any claims by a third party who executed
a waiver of any and all rights to seek access to the trust account and except as to any claims under our indemnity of the underwriters
of this offering against certain liabilities, including liabilities under the Securities Act. In the event that an executed waiver
is deemed to be unenforceable against a third party, then our sponsors will not be responsible to the extent of any liability
for such third-party claims. We have not asked our sponsors to reserve for such indemnification obligations, and our sponsors'
only assets are securities of our company. Therefore, we cannot assure you that our sponsors would be able to satisfy those obligations.
We believe the likelihood of our sponsors having to indemnify the trust account is limited because we will endeavor to have all
vendors and prospective target businesses as well as other entities execute agreements with us waiving any right, title, interest
or claim of any kind in or to monies held in the trust account.
81
In
the event that the proceeds in the trust account are reduced below (i) $10.00 per public share or (ii) such lesser amount
per public share held in the trust account as of the date of the liquidation of the trust account, due to reductions in value
of the trust assets, in each case net of the amount of interest which may be withdrawn to pay taxes, and our sponsors assert that
it is unable to satisfy its indemnification obligations or that it has no indemnification obligations related to a particular
claim, our independent directors would determine whether to take legal action against our sponsors to enforce its indemnification
obligations. While we currently expect that our independent directors would take legal action on our behalf against our sponsors
to enforce its indemnification obligations to us, it is possible that our independent directors in exercising their business judgment
may choose not to do so in any particular instance. Accordingly, we cannot assure you that due to claims of creditors the actual
value of the per-share redemption price will not be substantially less than $10.00 per share.
We
will seek to reduce the possibility that our sponsors will have to indemnify the trust account due to claims of creditors by endeavoring
to have all vendors, service providers, prospective target businesses or other entities with which we do business execute agreements
with us waiving any right, title, interest or claim of any kind in or to monies held in the trust account. Our sponsors will also
not be liable as to any claims under our indemnity of the underwriters of this offering against certain liabilities, including
liabilities under the Securities Act. We will have access to up to $500,000 from the proceeds of this offering with which to pay
any such potential claims (including costs and expenses incurred in connection with our liquidation, currently estimated to be
no more than approximately $100,000). In the event that we liquidate and it is subsequently determined that the reserve for claims
and liabilities is insufficient, stockholders who received funds from our trust account could be liable for claims made by creditors.
In the event that our offering expenses exceed our estimate of $500,000, we may fund such excess with funds from the funds not
to be held in the trust account. In such case, the amount of funds we intend to be held outside the trust account would decrease
by a corresponding amount. Conversely, in the event that the offering expenses are less than our estimate of $500,000, the amount
of funds we intend to be held outside the trust account would increase by a corresponding amount.
Under
the DGCL, stockholders may be held liable for claims by third parties against a corporation to the extent of distributions received
by them in a dissolution. The pro rata portion of our trust account distributed to our public stockholders upon the redemption
of our public shares in the event we do not complete our initial business combination within 18 months (or up to 24 months from
the closing of this offering if we extend the period of time to consummate a business combination, as described in more detail
in this prospectus) from the closing of this offering may be considered a liquidation distribution under Delaware law. If the
corporation complies with certain procedures set forth in Section 280 of the DGCL intended to ensure that it makes reasonable
provision for all claims against it, including a 60-day notice period during which any third-party claims can be brought
against the corporation, a 90-day period during which the corporation may reject any claims brought, and an additional
150 day waiting period before any liquidated distributions are made to stockholders, any liability of stockholders with respect
to a liquidating distribution is limited to the lesser of such stockholder's pro rata share of the claim or the amount distributed
to the stockholder, and any liability of the stockholder would be barred after the third anniversary of the dissolution. However, 
it is our intention to redeem our public shares as soon as reasonably possible following the 18th month (or up to the 24th month
if we extend the time period in which to consummate a business combination as described in more detail in this prospectus) from
the closing of this offering in the event we do not complete a business combination and, therefore, we do not intend to comply
with those procedures.
Because
we will not be complying with Section 280, Section 281(b) of the DGCL requires us to adopt a plan, based on facts known
to us at such time that will provide for our payment of all existing and pending claims or claims that may be potentially brought
against us within the subsequent 10 years. However, because we are a blank check company, rather than an operating company, and
our operations will be limited to searching for prospective target businesses to acquire, the only likely claims to arise would
be from our vendors (such as lawyers, investment bankers, etc.) or prospective target businesses. As described above, pursuant
to the obligation contained in our underwriting agreement, we will seek to have all vendors, service providers, prospective target
businesses or other entities with which we do business execute agreements with us waiving any right, title, interest or claim
of any kind in or to any monies held in the trust account.
82
As
a result of this obligation, the claims that could be made against us are significantly limited and the likelihood that any claim
that would result in any liability extending to the trust account is remote. Further, our sponsors may be liable only to the extent
necessary to ensure that the amounts in the trust account are not reduced below (i) $10.00 per public share or (ii) such
lesser amount per public share held in the trust account as of the date of the liquidation of the trust account, due to reductions
in value of the trust assets, in each case net of the amount of interest withdrawn to pay taxes, and will not be liable as to
any claims under our indemnity of the underwriters of this offering against certain liabilities, including liabilities under the
Securities Act. In the event that an executed waiver is deemed to be unenforceable against a third party, our sponsors will not
be responsible to the extent of any liability for such third-party claims.
If
we file a bankruptcy petition or an involuntary bankruptcy petition is filed against us that is not dismissed, the proceeds held
in the trust account could be subject to applicable bankruptcy law, and may be included in our bankruptcy estate and subject to
the claims of third parties with priority over the claims of our stockholders. To the extent any bankruptcy claims deplete the
trust account, we cannot assure you we will be able to return $10.00 per share to our public stockholders. Additionally, if we
file a bankruptcy petition or an involuntary bankruptcy petition is filed against us that is not dismissed, any distributions
received by stockholders could be viewed under applicable debtor/creditor and/or bankruptcy laws as either a "preferential
transfer" or a "fraudulent conveyance." As a result, a bankruptcy court could seek to recover some or all amounts
received by our stockholders. Furthermore, our board of directors may be viewed as having breached its fiduciary duty to our creditors
and/or may have acted in bad faith, and thereby exposing itself and our company to claims of punitive damages, by paying public
stockholders from the trust account prior to addressing the claims of creditors. We cannot assure you that claims will not be
brought against us for these reasons.
Our
public stockholders will be entitled to receive funds from the trust account only upon the earliest to occur of: (i) the
completion of our initial business combination, (ii) the redemption of any public shares properly tendered in connection
with a stockholder vote to amend our amended and restated certificate of incorporation (A) to modify the substance or timing
of our obligation to redeem 100% of our public shares if we do not complete our initial business combination within 18 months
(or up to 24 months from the closing of this offering if we extend the period of time to consummate a business combination, as
described in more detail in this prospectus) from the closing of this offering or (B) with respect to any other provision
relating to stockholders' rights or pre-business combination activity, and (iii) the redemption of all of
our public shares if we are unable to complete our initial business combination within 18 months from the closing of this offering,
subject to applicable law. In no other circumstances will a stockholder have any right or interest of any kind to or in the trust
account. In the event we seek stockholder approval in connection with our initial business combination, a stockholder's
voting in connection with the business combination alone will not result in a stockholder's redeeming its shares to us for
an applicable pro rata share of the trust account. Such stockholder must have also exercised its redemption rights described above.
Amended
and Restated Certificate of Incorporation
Our
amended and restated certificate of incorporation will contain certain requirements and restrictions relating to this offering
that will apply to us until the consummation of our initial business combination. If we seek to amend any provisions of our amended
and restated certificate of incorporation relating to stockholders' rights or pre-business combination activity,
we will provide dissenting public stockholders with the opportunity to redeem their public shares in connection with any such
vote. Specifically, our amended and restated certificate of incorporation will provide, among other things, that:
●
prior
                                         to the consummation of our initial business combination, we shall either (1) seek
                                         stockholder approval of our initial business combination at a meeting called for such
                                         purpose at which stockholders may seek to redeem their shares, regardless of whether
                                         they vote for or against the proposed business combination, into their pro rata share
                                         of the aggregate amount then on deposit in the trust account, including interest (which
                                         interest shall be net of taxes payable) or (2) provide our public stockholders with
                                         the opportunity to tender their shares to us by means of a tender offer (and thereby
                                         avoid the need for a stockholder vote) for an amount equal to their pro rata share of
                                         the aggregate amount then on deposit in the trust account, including interest (which
                                         interest shall be net of taxes payable) in each case subject to the limitations described
                                         herein;
●
we
                                         will consummate our initial business combination only if we have net tangible assets
                                         of at least $5,000,001 either immediately before or after such consummation and, solely
                                         if we seek stockholder approval, a majority of the outstanding shares of common stock
                                         voted are voted in favor of the business combination;
●
if
                                         our initial business combination is not consummated within 18 months (or up to 24 months
                                         from the closing of this offering if we extend the period of time to consummate a business
                                         combination, as described in more detail in this prospectus) from the closing of this
                                         offering, then our existence will terminate and we will distribute all amounts in the
                                         trust account; and
●
prior
                                         to our initial business combination, we may not issue additional shares of capital stock
                                         that would entitle the holders thereof to (i) receive funds from the trust account
                                         or (ii) vote on any initial business combination.
83
These
provisions cannot be amended without the approval of holders of 65% of our common stock. In the event we seek stockholder approval
in connection with our initial business combination, our amended and restated certificate of incorporation will provide that we
may consummate our initial business combination only if approved by a majority of the shares of common stock voted by our stockholders
at a duly held stockholders meeting.
Comparison
of redemption or purchase prices in connection with our initial business combination and if we fail to complete our business combination.
The
following table compares the redemptions and other permitted purchases of public shares that may take place in connection with
the completion of our initial business combination and if we are unable to complete our business combination within 18 months
(or up to 24 months from the closing of this offering if we extend the period of time to consummate a business combination, as
described in more detail in this prospectus) from the closing of this offering.
Redemptions
    in Connection
with our Initial
Business Combination
Other Permitted Purchases
of Public Shares by our
Affiliates
Redemptions if we fail to
Complete an Initial
Business Combination
Calculation of
    redemption price
Redemptions
    at the time of our initial business combination may be made pursuant to a tender offer or in connection with a stockholder
    vote. The redemption price will be the same whether we conduct redemptions pursuant to a tender offer or in connection with
    a stockholder vote. In either case, our public stockholders may redeem their public shares for cash equal to the aggregate
    amount then on deposit in the trust account as of two business days prior to the consummation of the initial business combination
    (which is initially anticipated to be $10.00 per share), including interest (which interest shall be net of taxes payable)
    divided by the number of then outstanding public shares, subject to the limitation that no redemptions will take place if
    all of the redemptions would cause our net tangible assets to be less than $ 5,000,001 both immediately before and after the
    consummation of our initial business combination and any limitations (including but not limited to cash requirements) agreed
    to in connection with the negotiation of terms of a proposed business combination.
If
    we seek stockholder approval of our initial business combination, our initial stockholders, directors, officers, advisors
    or their affiliates may purchase shares in privately negotiated transactions or in the open market either prior to or following
    completion of our initial business combination. Such purchases will only be made to the extent such purchases are able to
    be made in compliance with Rule 10b-18, which is a safe harbor from liability for manipulation under Section 9(a)(2)
    and Rule 10b-5 of the Exchange Act. None of the funds in the trust account will be used to purchase shares
    in such transactions.
If
    we are unable to complete our business combination within 18 months from the closing of this offering, we will redeem all
    public shares at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust
    account (which is initially anticipated to be $10.00 per share), including interest (less up to $100,000 of interest to pay
    dissolution expenses, which interest shall be net of taxes payable) divided by the number of then outstanding public shares.
Impact
    to remaining stockholders
The
    redemptions in connection with our initial business combination will reduce the book value per share for our remaining stockholders,
    who will bear the burden of paying certain marketing fees to I-Bankers and interest withdrawn in order to pay taxes
    (to the extent not paid from amounts accrued as interest on the funds held in the trust account).
If
    the permitted purchases described above are made, there will be no impact to our remaining stockholders because the purchase
    price would not be paid by us.
The
    redemption of our public shares if we fail to complete our initial business combination will reduce the book value per share
    for the shares held by our initial stockholders, who will be our only remaining stockholders after such redemptions
84
Comparison
of This Offering to Those of Blank Check Companies Subject to Rule 419
The
following table compares the terms of this offering to the terms of an offering by a blank check company subject to the provisions
of Rule 419. This comparison assumes that the gross proceeds, underwriting commissions and underwriting expenses of our offering
would be identical to those of an offering undertaken by a company subject to Rule 419, and that the underwriters will not exercise
the underwriters' over-allotment option. None of the provisions of Rule 419 apply to our offering.
Terms
    of Our Offering
Terms
    Under a Rule 419 Offering
Escrow
    of offering proceeds
The
                                         rules of Nasdaq provide that at least 90% of the gross proceeds from this offering and
                                         the private placement be deposited in a trust account.
$100,000,000
        of the net proceeds of this offering and the sale of the private placement warrants will be deposited into a trust account
        located in the United States with Continental Stock Transfer & Trust Company acting as trustee.
Approximately
    $_________ of the offering proceeds, representing the gross proceeds of this offering less allowable underwriting commissions,
    expenses and company deductions under Rule 419, would be required to be deposited into either an escrow account with
    an insured depositary institution or in a separate bank account established by a broker-dealer in which the broker-dealer
    acts as trustee for persons having the beneficial interests in the account.
Investment
    of net proceeds
$100,000,000
    of the net offering proceeds and the proceeds from the sale of the private placement warrants held in trust will be invested
    only in U.S. government treasury bills with a maturity of 180 days or less or in money market funds meeting certain conditions
    under Rule 2a-7 under the Investment Company Act which invest only in direct U.S. government treasury obligations.
Proceeds
    could be invested only in specified securities such as a money market fund meeting conditions of the Investment Company Act
    or in securities that are direct obligations of, or obligations guaranteed as to principal or interest by, the United States.
Receipt
    of interest on escrowed funds
Interest
    on proceeds from the trust account to be paid to stockholders is reduced by (i) any taxes paid or payable, and (ii) in
    the event of our liquidation for failure to complete our initial business combination within the allotted time, up to $100,000
    of net interest that may be released to us should we have no or insufficient working capital to fund the costs and expenses
    of our dissolution and liquidation.
Interest
    on funds in escrow account would be held for the sole benefit of investors, unless and only after the funds held in escrow
    were released to us in connection with our completion of a business combination.
85
Terms
    of Our Offering
Terms
    Under a Rule 419 Offering
Limitation
    on fair value or net assets of target business
The
    Nasdaq rules require that our initial business combination must be with one or more target businesses that together have an
    aggregate fair market value equal to at least 80% of the value of the assets held in the trust account (excluding certain
    marketing fees payable to I-Bankers and taxes payable on the interest earned on the trust account) at the time of
    our signing a definitive agreement in connection with our initial business combination. So long as we obtain and maintain
    a listing for our securities on Nasdaq, we will be required to comply with such rule.
The
    fair value or net assets of a target business must represent at least 80% of the maximum offering proceeds.
Trading of securities issued
The
    units are expected to begin trading on or promptly after the date of this prospectus. The common stock and warrants comprising
    the units will begin separate trading on the 52
nd
day following the date of this prospectus (or, if such date
    is not a business day, the following business day) unless I-Bankers informs us of its decision to allow earlier
    separate trading, subject to our having filed the Current Report on Form 8-K described below and having issued a
    press release announcing when such separate trading will begin. We will file the Current Report on Form 8-K promptly
    after the closing of this offering, which is anticipated to take place three business days from the date of this prospectus.
    If the underwriters' over-allotment option is exercised following the initial filing of such Current Report on Form 8-K, a
    second or amended Current Report on Form 8-K will be filed to provide updated financial information to reflect the
    exercise of the underwriters' over-allotment option.
No
    trading of the units or the underlying common stock and warrants would be permitted until the completion of a business combination.
    During this period, the securities would be held in the escrow or trust account.
Exercise of the warrants
The
    warrants cannot be exercised until the later of 30 days after the completion of our initial business combination or 12 months
    from the closing of this offering.
The
    warrants could be exercised prior to the completion of a business combination, but securities received and cash paid in connection
    with the exercise would be deposited in the escrow or trust account.
86
Terms
    of Our Offering
Terms
    Under a Rule 419 Offering
Election to remain an
    investor
We
        will provide our public 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 as of two business days prior to the consummation of
        our initial business combination, including interest, which interest shall be net of taxes payable, upon the completion
        of our initial business combination, subject to the limitations described herein. We may not be required by law to hold
        a stockholder vote. If we are not required by law and do not otherwise decide to hold a stockholder vote, 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 which will 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, we hold a stockholder vote, 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 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.
Additionally,
        each public stockholder may elect to redeem its public shares irrespective of whether they vote for or against the proposed
        transaction.
A prospectus containing
    information pertaining to the business combination required by the SEC would be sent to each investor. Each investor would
    be given the opportunity to notify the company in writing, within a period of no less than 20 business days and no more than
    45 business days from the effective date of a post-effective amendment to the company's registration statement, to decide
    if he, she or it elects to remain a stockholder of the company or require the return of his, her or its investment. If the
    company has not received the notification by the end of the 45
th
business day, funds and interest or dividends,
    if any, held in the trust or escrow account are automatically returned to the stockholder. Unless a sufficient number of investors
    elect to remain investors, all funds on deposit in the escrow account must be returned to all of the investors and none of
    the securities are issued.
87
Terms
    of Our Offering
Terms
    Under a Rule 419 Offering
Business combination
    deadline
If
    we are unable to complete an initial business combination within 18 months (or up to 24 months from the closing of this offering
    if we extend the period of time to consummate a business combination, as described in more detail in this prospectus) from
    the closing of this offering, we will (i) cease all operations except for the purpose of winding up, (ii) as promptly
    as reasonably possible but not more than ten business days thereafter, redeem 100% of 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 liquidation 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.
If
    an acquisition has not been completed within 18 months after the effective date of the company's registration statement,
    funds held in the trust or escrow account are returned to investors.
88
Terms
    of Our Offering
Terms
    Under a Rule 419 Offering
Release
    of funds
Except
    with respect to interest earned on the funds held in the trust account that may be released to us to pay our taxes, if any,
    the proceeds from this offering will not be released from the trust account until the earliest of (i) the completion
    of our initial business combination, (ii) the redemption of any public shares properly tendered in connection with a
    stockholder vote to amend and restate our amended and restated certificate of incorporation (A) to modify the substance
    or timing of our obligation to redeem 100% of our public shares if we do not complete our initial business combination within
    18 months (or up to 24 months from the closing of this offering if we extend the period of time to consummate a business combination,
    as described in more detail in this prospectus) from the closing of this offering or (B) with respect to any other provision
    relating to stockholders' rights or pre-business combination activity and (iii) the redemption of all
    of our public shares if we are unable to complete our business combination within 18 months (or up to 24 months from the closing
    of this offering if we extend the period of time to consummate a business combination, as described in more detail in this
    prospectus) from the closing of this offering, subject to applicable law.
The
    proceeds held in the escrow account are not released until the earlier of the completion of a business combination or the
    failure to effect a business combination within the allotted time.
Limitation on
                                         redemption
rights
        of stockholders
holding
        15% or more of
the
        shares sold in this offering if we hold a stockholder vote
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 will
    provide 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 seeking redemption rights with respect Excess Shares (an aggregate of 15% or more of the shares sold in this offering).
    Our public stockholders' inability to redeem Excess Shares will reduce their influence over our ability to complete
    our business combination and they could suffer a material loss on their investment in us if they sell Excess Shares in open
    market transactions.
Most
    blank check companies provide no restrictions on the ability of stockholders to redeem shares based on the number of shares
    held by such stockholders in connection with an initial business combination.
89
Terms
    of Our Offering
Terms
    Under a Rule 419 Offering
Tendering
    stock certificates in connection with a tender offer or redemption rights
We
    may require our public stockholders seeking to exercise their redemption rights, whether they are record holders or hold their
    shares in "street name," to either tender their certificates to our transfer agent prior to the date set forth
    in the tender offer documents mailed to such holders, or up to two business days prior to the vote on the proposal to approve
    the business combination in the event we distribute proxy materials, or to deliver their shares to the transfer agent electronically
    using Depository Trust Company's DWAC (Deposit/Withdrawal At Custodian) System, at the holder's option. The tender
    offer or proxy materials, as applicable, that we will furnish to holders of our public shares in connection with our initial
    business combination will indicate whether we are requiring public stockholders to satisfy such delivery requirements. Accordingly,
    a public stockholder would have from the time we send out our tender offer materials until the close of the tender offer period,
    or up to two days prior to the vote on the business combination if we distribute proxy materials, as applicable, to tender
    its shares if it wishes to seek to exercise its redemption rights.
In
    order to perfect redemption rights in connection with their business combinations, holders could vote against a proposed business
    combination and check a box on the proxy card indicating such holders were seeking to exercise their redemption rights. After
    the business combination was approved, the company would contact such stockholders to arrange for them to deliver their certificate
    to verify ownership.
Competition
In
identifying, evaluating and selecting a target business for our initial business combination, we may encounter intense competition
from other entities having a business objective similar to ours, including other blank check companies, private equity groups,
venture capital funds leveraged buyout funds, and operating businesses seeking strategic acquisitions. Many of these entities
are well established and have significant experience identifying and effecting business combinations directly or through affiliates.
Moreover, many of these competitors possess greater financial, technical, human and other resources than us. Our ability to acquire
larger target businesses will be limited by our available financial resources. This inherent limitation gives others an advantage
in pursuing the acquisition of a target business. Furthermore, the requirement that, so long as our securities are listed on Nasdaq,
we acquire a target business or businesses having a fair market value equal to at least 80% of the value of the trust account
(less certain advisory fees to I-Bankers and taxes payable on interest earned and less any interest earned thereon that is
released to us for taxes) at the time of the agreement to enter into the business combination, our obligation to pay cash in connection
with our public stockholders who exercise their redemption rights, and our outstanding rights and warrants and the potential future
dilution they represent, may not be viewed favorably by certain target businesses. Any of these factors may place us at a competitive
disadvantage in successfully negotiating our initial business combination.
Facilities
We
currently maintain our executive offices at 300 Tice Boulevard, Suite 315, Woodcliff Lake, NJ 07677. Currently we are not paying
any rent for the use of this office. However, that might change in the coming months. We believe, based on rents and fees for
similar services in Woodcliff, NJ, that, in the event of our having to pay a rent, that will not be more than $3,000 per month.
We consider our current office space adequate for our current operations.
Employees
We
currently have three officers. These individuals are not obligated to devote any specific number of hours to our matters but they
intend to devote as much of their time as they deem necessary to our affairs until we have completed our initial business combination.
The amount of time they will devote in any time period will vary based on whether a target business has been selected for our
initial business combination and the stage of the business combination process we are in. We do not intend to have any full-time employees
prior to the consummation of our initial business combination.
90
Periodic
Reporting and Financial Information
We
will register our units, common stock and warrants under the Exchange Act and have reporting obligations, including the requirement
that we file annual, quarterly and current reports with the SEC. In accordance with the requirements of the Exchange Act, our
annual reports will contain financial statements audited and reported on by our independent registered public auditors.
We
will provide stockholders with audited financial statements of the prospective target business as part of the tender offer materials
or proxy solicitation materials sent to stockholders to assist them in assessing the target business. In all likelihood, these
financial statements will need to be prepared in accordance with GAAP. We cannot assure you that any particular target business
identified by us as a potential acquisition candidate will have financial statements prepared in accordance with GAAP or that
the potential target business will be able to prepare its financial statements in accordance with GAAP. To the extent that this
requirement cannot be met, we may not be able to acquire the proposed target business. While this may limit the pool of potential
acquisition candidates, we do not believe that this limitation will be material.
We
will be required to evaluate our internal control procedures for the fiscal year ending December 31, 2021 as required by
the Sarbanes-Oxley Act. Only in the event we are deemed to be a large accelerated filer or an accelerated filer will we be required
to have our internal control procedures audited. A target company may not be in compliance with the provisions of the Sarbanes-Oxley
Act regarding adequacy of their internal controls. The development of the internal controls of any such entity to achieve compliance
with the Sarbanes-Oxley Act may increase the time and costs necessary to complete any such acquisition.
We
are an "emerging growth company," as defined in Section 2(a) of the Securities Act, as modified by the JOBS Act.
As such, we are eligible to take advantage of certain exemptions from various reporting requirements that are applicable to other
public companies that are not "emerging growth companies" including, but not limited to, not being required to comply
with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding
executive compensation in our periodic reports and proxy statements, and exemptions from the requirements of holding a non-binding advisory
vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. If some investors
find our securities less attractive as a result, there may be a less active trading market for our securities and the prices of
our securities may be more volatile.
In
addition, Section 107 of the JOBS Act also provides that an "emerging growth company" can take advantage of the
extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting
standards. In other words, an "emerging growth company" can delay the adoption of certain accounting standards until
those standards would otherwise apply to private companies. We intend to take advantage of the benefits of this extended transition
period.
We
will remain an emerging growth company until the earlier of (1) the last day of the fiscal year (a) following the fifth
anniversary of the completion of this offering, (b) in which we have total annual gross revenue of at least $1.07 billion,
or (c) in which we are deemed to be a large accelerated filer, which means the market value of our common stock that is held
by non-affiliates exceeds $700 million as of the prior June 30
th
, and (2) the date on which we
have issued more than $1.00 billion in non-convertible debt securities during the prior three-year period. References
herein to "emerging growth company" shall have the meaning associated with it in the JOBS Act.
Additionally,
we are a "smaller reporting company" as defined in Rule 10(f)(1) of Regulation S-K. Smaller reporting companies
may take advantage of certain reduced disclosure obligations, including, among other things, providing only two years of audited
financial statements. We will remain a smaller reporting company until the last day of the fiscal year in which (1) the market
value of our common stock held by non-affiliates exceeds $250 million as of the end of the prior June 30
th
,
or (2) our annual revenues exceeded $100 million during such completed fiscal year and the market value of our common
stock held by non-affiliates exceeds $700 million as of the prior June 30
th
.
Legal
Proceedings
There
is no material litigation, arbitration or governmental proceeding currently pending against us or any members of our management
team in their capacity as such.
91
MANAGEMENT
Directors,
Director Nominees and Executive Officers
Our
directors, director nominees and officers are as follows:
Name
Age
Title
Subash
    Menon
55
Chairman
    of the Board of Directors and Chief Executive Officer
Sudeesh
    Yezhuvath
51
Chief
    Operating Officer and Director
Nicholos
    Hellyer
58
Chief
    Financial Officer
Dr.
    Hossein Eslambolchi
63
Director
    Nominee
Dr.
    Kumar Shiralagi
58
Director
    Nominee
Vishant
    Vora
53
Director
    Nominee
Subash Menon has been our Chairman of the Board
of Directors and Chief Executive Officer since January 2021. He is also the Chief Executive Officer of Pelatro Plc, an AIM and
LSE listed entity. Pelatro Plc offers campaign management and loyalty management solutions for telecommunication companies
and these solutions are part of the overall Customer Engagement space within the telecom industry. At Pelatro, Mr. Menon
is responsible for sales, marketing, finance, legal and investor relations. Prior to co-founding Pelatro in 2013, Mr. Menon
had founded and led Subex Limited for 20 years (from 1992 to 2012). Mr. Menon successfully took Subex from startup stage,
through an IPO to a company that generated revenue of over $110 million, with 200 customers across 80 countries. During
that period, Subex completed several acquisitions of companies in the U.S., UK and Canada. Under Mr. Menon's
leadership, Subex achieved several milestones – the first software product company to list in India, the
first Indian software company to acquire an overseas company and the first Indian company to use GDR as an instrument for
acquisition. For the innovative achievements Mr. Menon achieved at Subex, he was named a "Mover & Shaker"
in the Indian software industry. Subex also won the "NASSCOM Innovation Award" and "One of the 8 Most innovative
Companies" award from NASSCOM. Mr. Menon has a graduate degree in Electrical Engineering from National Institute
of Technology, Durgapur and is a Distinguished Alumnus. Mr. Menon has presented numerous papers on business at international
fora.
Sudeesh Yezhuvath has been a Member of our
Board of Directors and Chief Operating Officer since January 2021. He is also the Chief Operating Officer of Pelatro Plc, an AIM
and LSE listed entity. Pelatro Plc offers campaign management and loyalty management solutions for telecommunication
companies and these solutions are part of the overall Customer Engagement space within the telecom industry. At Pelatro, Mr.
Yezhuvath is responsible for engineering, implementation, customer support, human resources and product management.
Prior to co-founding Pelatro in 2013, Mr. Yezhuvath was the Chief Operating Officer of Subex Limited for 19 years (from 1993 to
2012). During his tenure at Subex and currently at Pelatro, Mr. Yezhuvath has completed acquisitions for which
he was responsible for handling all post-acquisition integration activities. Mr. Yezhuvath is a graduate engineer from
NSS College of Engineering in India and has presented numerous papers on technology at international fora.
Nicholos Hellyer has been our Chief Financial
Officer since January 2021. He is also the Finance Director of Pelatro Plc and is responsible for all financial aspects of the
IPO process, including historic reporting and IFRS conversion. Mr. Hellyer qualified as a Chartered Accountant with KPMG,
London. Mr. Hellyer is a former Senior Investment Banker at UBS, HSBC, and Opus Corporate Finance. Nicholos has advised small
and midcap companies in a broad range of transactions, including IPOs, fundraisings and M&A for growth and entrepreneurial
companies. Mr. Hellyer has held non-executive director roles in companies quoted on the UK AIM and the Swedish Nasdaq First
North markets. He graduated with First Class Honors in Geography and Geology from Kings College, London.
Dr. Hossein Eslambolchi, currently a director
nominee, will serve as an independent director on our board of directors following the completion of this offering.
He is currently the Chairman and CEO of CyberFlow Analytics and 2020 Venture Partners, was Director of Clearwire Corporation from
2010 to 2013 and is on the board of directors for Hyperoffice. Dr. Eslambolchi also serves on the board of advisors
to the University of California San Diego School Of Engineering, Allegis Capital VC, SquareZero, RainStor, Prodapt, Tickets48
and PureWave Networks and serves as a member of the board of trustees for the Shiraz University School of Medical Sciences
in New York City. Dr. Eslambolchi is regarded in the scientific community as an expert in IP network design and reliability,
security, IP technologies, services, IP applications and setting an industry vision for "the "Concept of One"
and the "Concept of Zero," which have been used to streamline production, as well as the "Concept of None". Dr.
Eslambolchi is also known in the industry for the "Eslambolchi Law of Complexity". Dr. Eslambolchi joined AT&T
Bell Laboratories in 1986 and rose to become global CTO and CIO, President and CEO of AT&T Labs and AT&T Global
Network Services and was a 16b officer of the company as of 2001. He also served on AT&T's governing Executive
Committee. Dr. Eslambolchi completed BS, MS, Ph.D. and Post Doc degrees in Applied & Astro Physics along with MD in
Neurosurgery with highest honors from University of California San Diego. Further, he holds over 1,000 patents worldwide; won
"AT&T Fellow Award" in 1999, AT&T's highest technical honor; won "Thomas Alva Edison Inventor
of the Year Award" instituted by the New Jersey Inventors Hall of Fame in 1997 and 2013 and is among the Top 100 alumni
in the history of the University of California San Diego.
92
Dr. Kumar Shiralagi, currently a director
nominee, will serve as an independent director on our board of directors following the completion of this offering. Dr. Shiralagi
has been an investment advisor in the venture capital/private equity space since 2003. He is a former Managing Director at Kalaari
Capital Advisors in India and previously served as India country head and Director for Intel Capital's investments in South
Asia. Dr. Shiralagi played key roles as an investor and a board member for the investments made by Kalaari and Intel Capital.
Previously, Dr. Shiralagi was a scientist at Motorola Research Laboratories in the field of high-speed devices, optoelectronics
and nanotechnology, published over 60 papers in reputable journals and has 23 issued patents. After Dr. Shiralagi received his
MBA from Thunderbird, he joined Mortorola Ventures where he began his career investing in technology companies . Dr. Shiralagi
also co-founded and was the COO at Lytek Corporation, a manufacturer of surface emitting lasers based in Phoenix, Arizona. Dr.
Shiralagi graduated in Electronics and Communications from National Institute of Technology, Surathkal and completed MS and PhD
in Electrical Engineering from Arizona State University.
Mr. Vishant Vora, currently a director nominee,
will serve as an independent director on our board of directors following the completion of this offering. Mr. Vora is a technology
executive with over 30 years of experience in the telecom industry across the Americas, Europe and Asia and is currently the President
of Global Operations and Managed Services at Mevenir with responsibility for
global end-to-end
business operations including network design, rollout and deployments, solutions and systems integration services, managed services
and related strategic initiatives. Previously,
Mr. Vora led the technological transformation at Vodafone Romania as the
CTO helping to grow the subscriber base over 12 timesand was a member of the Vodafone Global Technology Board responsible for
the technological direction and strategy for the Vodafone Group. As CTO of Vodafone Idea, India, Mr. Vora successfully integrated
the networks and operations of Vodafone Idea, India into a global behemoth with over 300 million subscribers. At Vodafone Idea,
India, Mr. Vora oversaw a budget of approximately $4.5 billion and lead a team of approximately 6,000 people. Mr. Vora also won
the "CTO of the Year in India" award in 2014. Mr. Vora is an alumnus of the Harvard Business School where he completed
the General Management Program in Business Administration and received his undergraduate degree in Electrical Engineering from
Lawrence Technological University.
Involvement
in Certain Legal Proceedings
Except
as described below, to the best of our knowledge, none of our directors or executive officers has, during the past ten years:
●
been
                                         convicted in a criminal proceeding or been subject to a pending criminal proceeding (excluding
                                         traffic violations and other minor offenses);
●
had
                                         any bankruptcy or winding-up petition filed by or against the business or property
                                         of the person, or of any partnership, corporation or business association of which he
                                         was a general partner or executive officer, either at the time of the bankruptcy or winding-up filing
                                         or within two years prior to that time;
●
been
                                         subject to any order, judgment, or decree, not subsequently reversed, suspended or vacated,
                                         by any court of competent jurisdiction or federal or state authority, permanently or
                                         temporarily enjoining, barring, suspending or otherwise limiting, his involvement in
                                         any type of business, securities, futures, commodities, investment, banking, savings
                                         and loan, or insurance activities, or to be associated with persons engaged in any such
                                         activity;
●
been
                                         found by a court of competent jurisdiction in a civil action or by the Securities and
                                         Exchange Commission (the "SEC") or the Commodity Futures Trading Commission
                                         to have violated a federal or state securities or commodities law, and the judgment has
                                         not been reversed, suspended, or vacated;
93
●
been
                                         the subject of, or a party to, any federal or state judicial or administrative order,
                                         judgment, decree, or finding, not subsequently reversed, suspended or vacated (not including
                                         any settlement of a civil proceeding among private litigants), relating to an alleged
                                         violation of any federal or state securities or commodities law or regulation, any law
                                         or regulation respecting financial institutions or insurance companies including, but
                                         not limited to, a temporary or permanent injunction, order of disgorgement or restitution,
                                         civil money penalty or temporary or permanent cease-and-desist order, or removal
                                         or prohibition order, or any law or regulation prohibiting mail or wire fraud or fraud
                                         in connection with any business entity; or
●
been
                                         the subject of, or a party to, any sanction or order, not subsequently reversed, suspended
                                         or vacated, of any self-regulatory organization (as defined in Section 3(a)(26)
                                         of the Exchange Act), any registered entity (as defined in Section 1(a)(29) of the
                                         Commodity Exchange Act), or any equivalent exchange, association, entity or organization
                                         that has disciplinary authority over its members or persons associated with a member.
Number
of Officers and Directors
We
expect to have five directors upon completion of this offering. We may not hold an annual meeting of stockholders until after
we consummate our initial business combination. Our officers are elected by the board of directors and serve at the discretion
of the board of directors, rather than for specific terms of office. Our board of directors is authorized to appoint persons to
the offices set forth in our bylaws as it deems appropriate.
Director
Independence
Nasdaq
requires that a majority of our board of directors must be composed of "independent directors," which is defined generally
as a person other than an officer or employee of the company or its subsidiaries or any other individual having a relationship,
which, in the opinion of the company's board of directors would interfere with the director's exercise of independent
judgment in carrying out the responsibilities of a director.
Upon
the effective date of the registration statement of which this prospectus forms a part, Messrs. Eslambolchi, Vora and Shiralagi
will be our independent directors. Our independent directors will have regularly scheduled meetings at which only independent
directors are present. Any affiliated transactions will be on terms no less favorable to us than could be obtained from independent
parties. Any affiliated transactions must be approved by a majority of our independent and disinterested directors.
Executive
Officer and Director Compensation
Except
for the shares issued, we do not plan to pay any compensation to our sponsors, officers and directors, or any of their respective
affiliates, prior to or in connection with the consummation of our initial business combination. Additionally, these individuals
will be reimbursed for any out-of-pocket expenses incurred in connection with activities on our behalf such as identifying
potential target businesses and performing due diligence on suitable business combinations. Our independent directors will review
on a quarterly basis all payments that are made to our sponsors, officers, directors, or our or their affiliates.
After
the completion of our initial business combination, members of our management team who remain with us, may be paid consulting,
management or other fees from the combined company with any and all amounts being fully disclosed to stockholders, to the extent
then known, in the tender offer materials or proxy solicitation materials furnished to our stockholders in connection with a proposed
business combination. It is unlikely the amount of such compensation will be known at the time, as it will be up to the directors
of the post-combination business to determine executive and director compensation. Any compensation to be paid to our officers
will be determined, or recommenced, to the board of directors for determination, either by a committee constituted solely by independent
directors or by a majority of the independent directors on our board of directors.
We
do not intend to take any action to ensure that members of our management team maintain their positions with us after the consummation
of our initial business combination, although it is possible that some or all of our officers and directors may negotiate employment
or consulting arrangements to remain with us after the initial business combination. The existence or terms of any such employment
or consulting arrangements to retain their positions with us may influence our management's motivation in identifying or
selecting a target business but we do not believe that the ability of our management to remain with us after the consummation
of our initial business combination will be a determining factor in our decision to proceed with any potential business combination.
We are not party to any agreements with our officers and directors that provide for benefits upon termination of employment.
94
Committees
of the Board of Directors
Upon
the effective date of the registration statement of which this prospectus forms part, our board of directors will have two standing
committees: an audit committee and a compensation committee. Each committee will operate under a charter that has been approved
by our board of directors and will have the composition and responsibilities described below. Our audit committee and compensation
committee and nominating will be composed solely of independent directors.
Audit
Committee
Upon
the effectiveness of the registration statement of which this prospectus forms a part, we will establish an audit committee of
the board of directors. The members of our audit committee will be Dr. Eslambolchi, Doctor Shiralagi and Mr. Vora. Dr. Shiralagi
will serve as chairperson of the audit committee. Under the Nasdaq listing standards and applicable SEC rules, we are required
to have at least three members on the audit committee. The rules of Nasdaq and Rule 10A-3 of the Exchange Act require
that the audit committee of a listed company be comprised solely of independent directors. Dr. Eslambolchi, Dr. Shiralagi and
Mr. Vora qualify as independent directors under applicable rules. Each member of the audit committee is financially literate and
our board of directors has determined that Dr. Shiralagi qualifies as an "audit committee financial expert" as defined
in applicable SEC rules.
We
will adopt an audit committee charter, which will detail the principal functions of the audit committee, including:
●
the
                                         appointment, compensation, retention, replacement, and oversight of the work of the independent
                                         registered accounting firm and any other independent registered public accounting firm
                                         engaged by us;
●
pre-approving all
                                         audit and non-audit services to be provided by the independent registered accounting
                                         firm or any other registered public accounting firm engaged by us, and establishing pre-approval policies
                                         and procedures;
●
reviewing
                                         and discussing with the independent registered accounting firm all relationships the
                                         auditors have with us in order to evaluate their continued independence;
●
setting
                                         clear hiring policies for employees or former employees of the independent registered
                                         accounting firm;
●
setting
                                         clear policies for audit partner rotation in compliance with applicable laws and regulations;
●
obtaining
                                         and reviewing a report, at least annually, from the independent registered accounting
                                         firm describing (i) the independent registered accounting firm's internal
                                         quality-control procedures and (ii) any material issues raised by the most recent
                                         internal quality-control review, or peer review, of the audit firm, or by any inquiry
                                         or investigation by governmental or professional authorities, within, the preceding five
                                         years respecting one or more independent audits carried out by the firm and any steps
                                         taken to deal with such issues;
●
reviewing
                                         and approving any related party transaction required to be disclosed pursuant to Item
                                         404 of Regulation S-K promulgated by the SEC prior to us entering into such
                                         transaction; and
●
reviewing
                                         with management, the independent registered accounting firm, and our legal advisors,
                                         as appropriate, any legal, regulatory or compliance matters, including any correspondence
                                         with regulators or government agencies and any employee complaints or published reports
                                         that raise material issues regarding our financial statements or accounting policies
                                         and any significant changes in accounting standards or rules promulgated by the Financial
                                         Accounting Standards Board, the SEC or other regulatory authorities.
95
Compensation
Committee
Upon
the effectiveness of the registration statement of which this prospectus forms a part, we will establish a compensation committee
of the board of directors consisting of two members. The members of our Compensation Committee will be Dr. Eslambolchi, Mr. Vora
and Dr. Shiralagi. Dr. Eslambolchi will serve as chairman of the compensation committee. Under the Nasdaq listing standards and
applicable SEC rules, we are required to have at least two members on the compensation committee, all of whom must be independent.
We
will adopt a compensation committee charter, which will detail the principal functions of the compensation committee, including:
●
reviewing
                                         and approving on an annual basis the corporate goals and objectives relevant to our Chief
                                         Executive Officer's compensation, evaluating our Chief Executive Officer's
                                         performance in light of such goals and objectives and determining and approving the remuneration
                                         (if any) of our Chief Executive Officer based on such evaluation;
●
reviewing
                                         and approving the compensation of all of our other executive officers;
●
reviewing
                                         our executive compensation policies and plans;
●
implementing
                                         and administering our incentive compensation equity-based remuneration plans;
●
assisting
                                         management in complying with our proxy statement and annual report disclosure requirements;
●
approving
                                         all special perquisites, special cash payments and other special compensation and benefit
                                         arrangements for our executive officers and employees;
●
producing
                                         a report on executive compensation to be included in our annual proxy statement; and
●
reviewing,
                                         evaluating and recommending changes, if appropriate, to the remuneration for directors.
The
charter will also provide that the compensation committee may, in its sole discretion, retain or obtain the advice of a compensation
consultant, legal counsel or other adviser and will be directly responsible for the appointment, compensation and oversight of
the work of any such adviser. However, before engaging or receiving advice from a compensation consultant, external legal counsel
or any other adviser, the compensation committee will consider the independence of each such adviser, including the factors required
by Nasdaq and the SEC.
Director
Nominations
We
do not have a standing nominating committee, though we intend to form a corporate governance and nominating committee as and when
required to do so by law or Nasdaq rules. In accordance with Rule 5605(e)(2) of the Nasdaq rules, a majority of the independent
directors may recommend a director nominee for selection by the board of directors. The board of directors believes that the independent
directors can satisfactorily carry out the responsibility of properly selecting or approving director nominees without the formation
of a standing nominating committee. The directors who shall participate in the consideration and recommendation of director nominees
are Messrs. Eslambolchi, Vora and Shiralagi. In accordance with Rule 5605(e)(1)(A) of the Nasdaq rules, all such directors
are independent. As there is no standing nominating committee, we do not have a nominating committee charter in place.
The
board of directors will also consider director candidates recommended for nomination by our stockholders during such times as
they are seeking proposed nominees to stand for appointment at the next annual general meeting (or, if applicable, an extraordinary
general meeting). Our stockholders that wish to nominate a director for election to the Board should follow the procedures set
forth in our amended and restated certificate of incorporation. We have not formally established any specific, minimum qualifications
that must be met or skills that are necessary for directors to possess. In general, in identifying and evaluating nominees for
director, the board of directors considers educational background, diversity of professional experience, knowledge of our business,
integrity, professional reputation, independence, wisdom, and the ability to represent the best interests of our stockholders.
Our
board of directors is divided into three classes with only one class of directors being appointed in each year and each class
serving a three-year term. The term of office of the first class of directors, consisting of Dr. Shiralagi, will expire at
the first annual general meeting. The term of office of the second class of directors, consisting of Messrs. Eslambolchi and Vora,
will expire at the second annual general meeting. The term of office of the third class of directors, consisting of Mr. Subash
Menon and Mr. Sudeesh Yezhuvath, will expire at the third annual general meeting.
96
Code
of Ethics
We
have adopted a code of conduct and ethics applicable to our directors, officers and employees in accordance with applicable federal
securities laws. We will file a copy of our form of Code of Ethics and our audit committee charter as exhibits to the registration
statement. You will be able to review these documents by accessing our public filings at the SEC's web site at
www.sec.gov
.
In addition, a copy of the Code of Ethics will be provided without charge upon request from us. We intend to disclose any amendments
to or waivers of certain provisions of our Code of Ethics in a Current Report on Form 8-K. See "Where You Can Find
Additional Information.""
Conflicts
of Interest
In
general, officers and directors of a corporation incorporated under the laws of the State of Delaware are required to present
business opportunities to a corporation if:
●
the
                                         corporation could financially undertake the opportunity;
●
the
                                         opportunity is within the corporation's line of business; and
●
it
                                         would not be fair to the corporation and its stockholders for the opportunity not to
                                         be brought to the attention of the corporation.
In
relation to the foregoing, our amended and restated certificate of incorporation provides that:
●
we
                                         renounce any interest or expectancy in, or being offered an opportunity to participate
                                         in, any business opportunities that are presented to us or our officers or directors
                                         or stockholders or affiliates thereof, including but not limited to, our initial stockholders
                                         and its affiliates, except as may be prescribed by any written agreement with us; and
●
our
                                         officers and directors will not be liable to our company or our stockholders for monetary
                                         damages for breach of any fiduciary duty by reason of any of our activities or any of
                                         our initial stockholders or its affiliates to the fullest extent permitted by Delaware
                                         law.
Each
of our officers and directors presently has, and any of them in the future may have additional, fiduciary or contractual obligations
to another entity pursuant to which such officer or director is or will be required to present a business combination opportunity
to such entity. Accordingly, if any of our officers or directors becomes aware of a business combination opportunity which is
suitable for an entity to which he or she has then-current fiduciary or contractual obligations, he or she will honor these fiduciary
obligations under applicable law. Our amended and restated certificate of incorporation will provide that we renounce our interest
in any corporate opportunity offered to any director or officer unless such opportunity is expressly offered to such person solely
in his or her capacity as a director or officer of our company and such opportunity is one we are legally and contractually permitted
to undertake and would otherwise be reasonable for us to pursue.
The
following table summarizes the relevant pre-existing fiduciary or contractual obligations of our officers and directors:
Individual
Entity
Position
at affiliated entity
Subash
Menon
Pelatro
PLC
Chief
Executive Officer and Director
Sudeesh
Yezhuvath
Pelatro PLC
Chief
Operating Officer
Nicholos
Hellyer
Pelatro
PLC
Finance
Director
Dr.
Hossein Eslambolchi
CyberFlow
Analytics
2020 Venture Partners
Hyperoffice
Chairman
and CEO
Chairman and CEO
Director
Dr.
Kumar Shiralagi
Lytek
Corporation
Chief
Operating Officer
Mr.
Vishant Vora
Mavenir
President
of Global Operations
97
Potential
investors should also be aware of the following other potential conflicts of interest:
●
None
                                         of our officers or directors is required to commit his or her full time to our affairs
                                         and, accordingly, may have conflicts of interest in allocating his or her time among
                                         various business activities.
●
Our
                                         sponsors, executive officers and directors have agreed to waive their redemption rights
                                         with respect to their founder shares and any public shares they hold in connection with
                                         the consummation of our initial business combination. Additionally, our sponsors, executive
                                         officers and directors have agreed to waive their redemption rights with respect to their
                                         founder shares if we fail to consummate our initial business combination within 18 months
                                         after the closing of this offering, although they will be entitled to liquidating distributions
                                         from the trust account with respect to any public shares they hold. If we do not complete
                                         our initial business combination within such applicable time period, the proceeds of
                                         the sale of the private placement warrants will be used to fund the redemption of our
                                         public shares, and the private placement warrants will expire worthless. With certain
                                         limited exceptions, the founder shares will not be transferable, assignable or salable
                                         by our initial stockholders until the earlier of (1) one year after the completion
                                         of our initial business combination and (2) the date on which we consummate a liquidation,
                                         merger, capital stock exchange, reorganization, or other similar transaction after our
                                         initial business combination that results in all of our stockholders having the right
                                         to exchange their shares of common stock for cash, securities or other property. Notwithstanding
                                         the foregoing, if the last sale price of our common stock equals or exceeds $18.00 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, the founder shares will be
                                         released from the lock-up. With certain limited exceptions, the private placement
                                         warrants and the securities underlying such warrants will not be transferable, assignable
                                         or salable by our initial stockholders until 30 days after the completion of our initial
                                         business combination. Since our initial stockholders and officers and directors may directly
                                         or indirectly own common stock and warrants following this offering, our officers and
                                         directors may have a conflict of interest in determining whether a particular target
                                         business is an appropriate business with which to effectuate our initial business combination.
●
Our
                                         officers and directors may have a conflict of interest with respect to evaluating a particular
                                         business combination if the retention or resignation of any such officers and directors
                                         was included by a target business as a condition to any agreement with respect to our
                                         initial business combination.
●
Our
                                         initial stockholders, officers or directors may have a conflict of interest with respect
                                         to evaluating a business combination and financing arrangements as we may obtain loans
                                         from our initial stockholders or an affiliate of our initial stockholders or any of our
                                         officers or directors to finance transaction costs in connection with an intended initial
                                         business combination. Up to $1,500,000 of such loans may be, at the option of the lender,
                                         convertible into placement warrants at a price of $1.00 per warrant. Such units would
                                         be identical to the private placement warrants, including as to exercise price, exercisability
                                         and exercise period.
●
Our
                                         initial stockholders, officers and directors may be owed reimbursement for expenses incurred
                                         in connection with certain activities on our behalf which would only be repaid if we
                                         complete an initial business combination.
The
conflicts described above may not be resolved in our favor.
We
are not prohibited from pursuing an initial business combination with a company that is affiliated with our initial stockholders,
officers or directors. In the event we seek to complete our initial business combination with such a company, we, or a committee
of independent directors, would obtain an opinion from an independent investment banking firm which is a member of FINRA, or from
an independent accounting firm, that such an initial business combination is fair to our company from a financial point of view.
In
the event that we submit our initial business combination to our public stockholders for a vote, our sponsors, executive officers,
and directors have agreed to vote their founder shares and any public shares purchased in or after this offering in favor of our
initial business combination.
98
Limitation
on Liability and Indemnification of Officers and Directors
Our
amended and restated certificate of incorporation will provide that our officers and directors will be indemnified by us to the
fullest extent authorized by Delaware law, as it now exists or may in the future be amended. In addition, our amended and restated
certificate of incorporation will provide that our directors will not be personally liable for monetary damages to us for breaches
of their fiduciary duty as directors, except to the extent such exemption from liability or limitation thereof is not permitted
by the DGCL.
We
will enter into agreements with our officers and directors to provide contractual indemnification in addition to the indemnification
provided for in our amended and restated certificate of incorporation. Our bylaws also permit us to maintain insurance on behalf
of any officer, director or employee for any liability arising out of his or her actions, regardless of whether Delaware law would
permit such indemnification. We will obtain a policy of directors' and officers' liability insurance that insures
our officers and directors against the cost of defense, settlement or payment of a judgment in some circumstances and insures
us against our obligations to indemnify our officers and directors.
These
provisions may discourage stockholders from bringing a lawsuit against our directors for breach of their fiduciary duty. These
provisions also may have the effect of reducing the likelihood of derivative litigation against officers and directors, even though
such an action, if successful, might otherwise benefit us and our stockholders. Furthermore, a stockholder's investment
may be adversely affected to the extent we pay the costs of settlement and damage awards against officers and directors pursuant
to these indemnification provisions.
We
believe that these provisions, the directors' and officers' liability insurance and the indemnity agreements are necessary
to attract and retain talented and experienced officers and directors.
99
PRINCIPAL
STOCKHOLDERS
The
following table sets forth information regarding the beneficial ownership of our common stock as of the date of this prospectus,
and as adjusted to reflect the sale of our common stock included in the units offered by this prospectus, and assuming no purchase
of units in this offering, by:
●
each
                                         person known by us to be the beneficial owner of more than 5% of our outstanding shares
                                         of common stock;
●
each
                                         of our executive officers, directors and director nominees; and
●
all
                                         our executive officers, directors and director nominees as a group.
Unless
otherwise indicated, we believe that all persons named in the table have sole voting and investment power with respect to all
shares of common stock beneficially owned by them. The following table does not reflect record or beneficial ownership of the
private placement warrants as these warrants are not exercisable within 60 days of the date of this prospectus.
Before
Offering
After
Offering
(3)
Name
and Address of Beneficial Owner
(1)
Number
of
Shares
Beneficially
Owned
(2)
Approximate
Percentage of
Outstanding
Common Stock
Number
of
Shares
Beneficially
Owned
Approximate
Percentage of
Outstanding
Common Stock
5%
and greater holders
Bannix
Management LLP
1,200,000
41.73
[Anchor
Investor]
I-Bankers
Directors
and Officers
Subash
Menon
1,675,000
58.27
%
%
Sudeesh
Yezhuvath
Nicholos
Hellyer
Dr.
Hossein Eslambolchi
Dr.
Kumar Shiralagi
Vishant
Vora
%
%
All
directors, director nominees and executive officers as a group (____ individuals)
%
%
___________
*
Less
    than 1%.
(1)
Unless
    otherwise noted, the business address of each of the following entities or individuals is 300 Tice Boulevard, Suite 315, Woodcliff
    Lake, NJ 07677.
(2)
Interests
    shown consist solely of founder shares.
(3)
Based
    on 12,750,000 shares of common stock outstanding immediately after this offering (assumes the underwriters' over-allotment
    option has not been exercised and an aggregate of 375,000 founder shares have been forfeited by sponsors).
(4)
Includes
    shares held by our sponsors, of which _________ is the sole manager.
(5)
The
    individual holds an interest in Bannix Management LLP and disclaims any beneficial ownership other than to the extent of his
    pecuniary interest.
Immediately
after this offering, our initial stockholders will beneficially own 20% of the then issued and outstanding shares of common stock
(assuming they do not purchase any units in this offering). Because of this ownership block, our initial stockholders may be able
to effectively influence the outcome of all other matters requiring approval by our stockholders, including amendments to our
amended and restated certificate of incorporation and approval of significant corporate transactions including our initial business
combination.
100
Our
sponsors have committed, pursuant to a written agreement, to purchase an aggregate of 2,300,000 private placement warrants (inclusive
of the private placement warrants issued to our sponsors in lieu of  I-Bankers), each exercisable to purchase one share of common stock at $11.50 per share, at a
price of $1.00 per warrant ($2,300,000 in the aggregate), in a private placement that will close simultaneously with the
closing of this offering. The number of private placement warrants to be purchased if the underwriters' over-allotment
option is exercised only in part will be a number of warrants necessary to maintain in the trust account $10.00 per unit sold
to the public in this offering. These additional private placement warrants will be purchased simultaneously with the
purchase of units resulting from the exercise of the underwriters' over-allotment option. If we do not complete our
initial business combination within 18 months from the closing of this offering, the private placement warrants will expire
worthless. The private placement warrants are subject to the transfer restrictions described below. The private placement
warrants will not be redeemable (except as described under "Description of Securities — Warrants — Private
Placement Warrants") by us so long as they are held by our sponsors or their permitted transferees. Our sponsors or
their permitted transferees have the option to exercise the private placement warrants on a cashless basis. If the private
placement warrants are held by holders other than the sponsors or their 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
this offering. Otherwise, the private placement warrants have terms and provisions that are identical to those of the
warrants being sold as part of the units in this offering.
Our
sponsors, executive officers and directors may be deemed to be "promoters" as such term is defined under the federal
securities laws.
Transfers
of Founder Shares, Private Placement Warrants and Underlying Securities
The
founder shares, placement warrants and any shares of common stock issued upon exercise of the private placement warrants are each
subject to transfer restrictions pursuant to lock-up provisions in the letter agreements with us to be entered into
by our initial stockholders. Those lock-up provisions provide that such securities are not transferable or salable (i) in
the case of the founder shares, until the earlier of (A) one year after the completion of our initial business combination
or (B) if, subsequent to our initial business combination, the last sale price of the common stock (x) equals or exceeds
$18.00 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 following the completion of our initial business combination on which we complete a liquidation, merger, stock exchange 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, and (ii) in the case of the private placement warrants and the respective common stock
underlying such warrants, until 30 days after the completion of our initial business combination, except in each case (a) to
our officers or directors, any affiliates or family members of any of our officers or directors, our initial stockholders or any
affiliates or family members of members of our initial stockholders, or any affiliates of our initial stockholders (or their employees);
(b) in the case of an individual, by gift to a member of one of the members 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; (c) in the case of an individual, by virtue of laws of descent and distribution upon death
of the individual; (d) in the case of an individual, pursuant to a qualified domestic relations order; (e) by private
sales or transfers made in connection with the consummation of a business combination at prices no greater than the price at which
the securities were originally purchased; or (f) if a holder is an entity, as a distribution to its partners, stockholders,
officers or members upon its liquidation; provided, however, that in any case these permitted transferees must enter into a written
agreement agreeing to be bound by these transfer restrictions to the extent and for the duration that such terms remain in effect
at the time of the transfer and by the same agreements entered into by our initial stockholders with respect to such securities.
Registration
Rights
The
holders of the founder shares, the private placement warrants (and underlying securities) and private placement warrants that
may be issued upon conversion of working capital loans (and any underlying securities) will be entitled to registration rights
pursuant to a registration rights agreement to be signed prior to or on the closing date of this offering requiring us to register
such securities for resale. The holders of these securities are entitled to make up to three demands, excluding short form demands,
that we register such securities. In addition, the holders have certain "piggy-back" registration rights with respect
to registration statements filed subsequent to the completion of our initial business combination. However, the registration rights
agreement provides that we will not permit any registration statement filed under the Securities Act to become effective until
termination of the applicable lock-up period described above "—Transfers of Founder Shares, Private Placement
Warrants and Underlying Securities." We will bear the expenses incurred in connection with the filing of any such registration
statements.
101
CERTAIN
RELATIONSHIPS AND RELATED PARTY TRANSACTIONS
Our
initial stockholders purchased or will purchase upon closing
of this offering 2,875,000 founder shares for an aggregate purchase price of $28,750 (up to 375,000 of which are subject to
forfeiture). If we increase or decrease the size of the offering, we will effect a stock dividend or share contribution back to
capital or other appropriate mechanism, as applicable, with respect to our common stock immediately prior to the consummation
of the offering in such amount as to maintain the ownership of founder shares by our initial stockholders prior to this offering
at 20% of our issued and outstanding shares of our common stock upon the consummation of this offering (excluding the Representative's
shares).
Our
sponsors have committed, pursuant to a written agreement, to purchase an aggregate of 2,300,000 private placement warrants (inclusive
of the private placement warrants transferred from I-Bankers to our sponsors concurrently with the closing of this offering)
each exercisable to purchase one share of common stock at $11.50 per share, at a price of $1.00 per warrant ($2,300,000 in the
aggregate), in a private placement that will close simultaneously with the closing of this offering. Each private placement warrant
entitles the holder to purchase one share of common stock at $11.50 per share. The private placement warrants (including the shares
of common stock issuable upon exercise of the private placement warrants) may not, subject to certain limited exceptions, be transferred,
assigned or sold until 30 days after the completion of our initial business combination.
As
more fully discussed in "Management — Conflicts of Interest," if any of our officers or directors becomes
aware of a business combination opportunity that falls within the line of business of any entity to which he or she has then-current
fiduciary or contractual obligations, he or she may be required to present such business combination opportunity to such entity
prior to presenting such business combination opportunity to us. Our executive officers and directors currently have certain relevant
fiduciary duties or contractual obligations that may take priority over their duties to us.
We
will enter into an Administrative Services Agreement pursuant to which we will pay (commencing on the effective date of this registration
statement) an affiliate of one of our officers a total of $5,000 per month for office space, utilities, secretarial support and
other administrative and consulting services. Upon completion of our initial business combination or our liquidation, we will
cease paying these monthly fees. Accordingly, in the event the consummation of our initial business combination takes the maximum
24 months, we will pay a total of $120,000 ($5,000 per month) for office space, utilities, secretarial support and other administrative
and consulting services.
Our
sponsors, executive officers and directors, or any of their respective affiliates, will be reimbursed for any out-of-pocket expenses
incurred in connection with activities on our behalf such as identifying potential target businesses and performing due diligence
on suitable business combinations. Our audit committee will review on a quarterly basis all payments that were made to our sponsors,
officers, directors or our or their affiliates and will determine which expenses and the amount of expenses that will be reimbursed.
There is no cap or ceiling on the reimbursement of out-of-pocket expenses incurred by such persons in connection with
activities on our behalf.
Prior
to the closing of this offering, our sponsors have agreed to loan us up to $300,000, in the form of a promissory note, to be used
for a portion of the expenses of this offering. Separately, as of February 9, 2021, we have borrowed $27,963 from our sponsors
as related party loans. The loans and promissory note are non-interest bearing and unsecured. The promissory note is due at the
earlier of June 30, 2021 or the successful closing of this offering. The related party loans are due for repayment within six
months of January 29, 2021 in cash or issuance of shares and/or warrants of equivalent value. The promissory note would be forgiven
if the offering does not close. The cash available for repayment of the loans and note would be from the $500,000 of offering
proceeds that has been allocated to the payment of offering expenses.
In
addition, in order to finance transaction costs in connection with an intended initial business combination, our initial stockholders
or an affiliate of our initial stockholders or certain of our officers and directors may, but are not obligated to, loan us funds
as may be required. If we complete an initial business combination, we would repay such loaned amounts. In the event that the
initial business combination does not close, we may use a portion of the working capital held outside the trust account to repay
such loaned amounts but no proceeds from our trust account would be used for such repayment. Up to $1,500,000 of such loans may
be, at the option of the lender, convertible into warrants at a price of $1.00 per warrant of the post business combination entity.
The warrants would be identical to the private placement warrants, including as to exercise price, exercisability and exercise
period. The terms of such loans, if any, have not been determined and no written agreements exist with respect to such loans.
We do not expect to seek loans from parties other than our initial stockholders or an affiliate of our initial stockholders or
certain officers and directors as we do not believe third parties will be willing to loan such funds and provide a waiver against
any and all rights to seek access to funds in our trust account.
102
We
do not intend to pay consulting, finders or success fees to our officer and directors in connection with any business combination.
However, these individuals will be reimbursed for any out-of-pocket expenses
incurred in connection with activities on our behalf such as identifying potential target businesses and performing due diligence
on suitable business combinations. Our audit committee will review on a quarterly basis all payments that were made to our initial
stockholders, officers, directors or our or their affiliates.
After
our initial business combination, members of our management team who remain with us may be paid consulting, management or other
fees from the combined company with any and all amounts being fully disclosed to our stockholders, to the extent then known, in
the tender offer or proxy solicitation materials, as applicable, furnished to our stockholders. It is unlikely the amount of such
compensation will be known at the time of distribution of such tender offer materials or at the time of a stockholder meeting
held to consider our initial business combination, as applicable, as it will be up to the directors of the post-combination business
to determine executive officer and director compensation.
We
will enter into a registration rights agreement with respect to the founder shares and private placement warrants (and underlying
securities), which is described under the heading "Principal Stockholders — Registration Rights."
Policy
for Approval of Related Party Transactions
The
audit committee of our board of directors will adopt a policy setting forth the policies and procedures for its review and approval
or ratification of "related party transactions." Pursuant to the policy, the audit committee will consider (i) the
relevant facts and circumstances of each related party transaction, including if the transaction is on terms comparable to those
that could be obtained in arm's-length dealings with an unrelated third party, (ii) the extent of the related
party's interest in the transaction, (iii) whether the transaction contravenes our code of ethics or other policies,
(iv) whether the audit committee believes the relationship underlying the transaction to be in the best interests of the
company and its stockholders and (v) the effect that the transaction may have on a director's status as an independent
member of the board and on his or her eligibility to serve on the board's committees. Management will present to the audit
committee each proposed related party transaction, including all relevant facts and circumstances relating thereto. Under the
policy, we may consummate related party transactions only if our audit committee approves or ratifies the transaction in accordance
with the guidelines set forth in the policy. The policy will not permit any director or executive officer to participate in the
discussion of, or decision concerning, a related person transaction in which he or she is the related party.
103
DESCRIPTION
OF SECURITIES
Pursuant
to our amended and restated certificate of incorporation, our authorized capital stock will consist of 100,000,000 shares of common
stock, $0.01 par value, and 1,000,000 shares of undesignated preferred stock, $0.01 par value. The following description summarizes
the material terms of our capital stock. Because it is only a summary, it may not contain all the information that is important
to you.
Public
Units
Each
unit has an offering price of $10.00 and consists of one share of common stock and one-half of one redeemable warrant.
Each whole warrant entitles the holder thereof to purchase one share of our common stock at a price of $11.50 per share, subject
to adjustment as described in this prospectus. No fractional warrants will be issued upon separation of the units and only whole
warrants will trade. The common stock and warrants comprising the units will begin separate trading on the 52
nd
day
following the date of this prospectus (or if such date is not a business day, the following business day) unless I-Bankers informs
us of its decision to allow earlier separate trading, subject to our having filed the Current Report on Form 8-K described
below and having issued a press release announcing when such separate trading will begin. At the time that the common stock and
warrants comprising the units begin separate trading, holders will hold the separate securities and no longer hold units (without
any action needing to be taken by the holders), and the units will no longer trade.
In
no event will the common stock and warrants be traded separately until we have filed with the SEC a Current Report on Form 8-K which
includes an audited balance sheet reflecting our receipt of the gross proceeds at the closing of this offering. We will file the
Current Report on Form 8-K promptly after the closing of this offering which will include this audited balance
sheet, which closing is anticipated to take place three business days after the date of this prospectus. If the underwriters'
over-allotment option is exercised following the initial filing of such Current Report on Form 8-K, a second or
amended Current Report on Form 8-K will be filed to provide updated financial information to reflect the exercise
of the underwriters' over-allotment option.
Common
Stock
Upon
the closing of this offering, 12,750,000 shares of our common stock will be outstanding (assuming no exercise of the underwriters'
over-allotment option and the corresponding forfeiture of 375,000 founder shares by our sponsors), including:
●
10,000,000
                                         shares of our common stock underlying the units being offered in this offering;
●
2,500,000
                                         shares of common stock held by our initial stockholders; and
●
250,000
                                         Representative's shares.
If
we increase or decrease the size of this offering, we will effect a stock dividend or share contribution back to capital or other
appropriate mechanism, as applicable, with respect to our common stock immediately prior to the consummation of this offering
in such amount as to maintain the ownership of founder shares by our initial stockholders prior to this offering at 20.0% of our
issued and outstanding shares of our common stock upon the consummation of this offering (excluding the Representative's
shares).
Common
stockholders of record are entitled to one vote for each share held on all matters to be voted on by stockholders. 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 common stock that are voted is required to approve any such matter
voted on by our stockholders. 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 (prior to consummation
of our initial business combination). Our stockholders are entitled to receive ratable dividends when, as and if declared by the
board of directors out of funds legally available therefor.
Because
our amended and restated certificate of incorporation will authorize the issuance of up to 100,000,000 shares of common stock,
if we were to enter into a business combination, we may (depending on the terms of such a business combination) be required to
increase the number of shares of common stock which we are authorized to issue at the same time as our stockholders vote on the
business combination to the extent we seek stockholder approval in connection with our initial business combination.
104
In
accordance with the Nasdaq corporate governance requirements, we are not required to hold an annual meeting until one year after
our first full fiscal year end following our listing on Nasdaq. 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 stockholders with the opportunity to redeem all or a portion of their public shares upon the completion of our
initial business combination at a per-share price, payable in cash, equal to the aggregate amount then on deposit in
the trust account as of two business days prior to the consummation of our initial business combination, including interest (which
interest shall be net of taxes payable) divided by the number of then outstanding public shares, subject to the limitations described
herein. The amount in the trust account is initially anticipated to be approximately $10.00 per public share. The per share amount
we will distribute to stockholders who properly exercise their redemption rights will not be reduced by the fee payable to I-Bankers pursuant
to the business combination marketing agreement. See the section entitled "Underwriting — Business Combination
Marketing Agreement." Our sponsors, officers and directors have entered into a letter agreement with us, pursuant to which
they have agreed to waive their redemption rights with respect to their founder shares and any public shares in connection with
the completion of our initial business combination, although they will be entitled to liquidating distributions from the trust
account with respect to any public shares they hold if we fail to consummate our initial business combination within 18 months
after the closing of this offering (or up to 24 months from the closing of this offering if we extend the period of time to consummate
a business combination, as described in more detail in this prospectus).
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 legal 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 legal 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 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 initial
stockholders, officers, directors, advisors or their affiliates in privately-negotiated transactions (as described in this prospectus),
if any, could result in the approval of our business combination even if a majority of our public stockholders vote, or indicate
their intention to vote, against such initial business combination. For purposes of seeking approval of the majority of our outstanding
shares of common stock, non-votes will have no effect on the approval of our 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 business combination. These quorum and voting
thresholds, and the voting agreements of our sponsors, officers and directors, may make it more likely that we will consummate
our initial business combination.
105
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 will provide 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 an aggregate of 15% or more of the shares of common stock sold in this 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 business combination. And, as a
result, such stockholders will continue to hold that number of shares equal to or 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, our sponsors, officers and directors have agreed
to vote their founder shares and any public shares purchased during or after this offering in favor of our initial business combination.
As a result, in addition to the founder shares, we would need 3,875,001, or 38.75%, of the 10,000,000 public shares
sold in this offering to be voted in favor of a transaction (assuming all outstanding shares are voted) in order to have our initial
business combination approved (assuming the underwriters' over-allotment option is not exercised). Furthermore, assuming
only the minimum number of stockholders required to be present at the stockholders' meeting held to approve our initial
business combination are present at such meeting, we would need only 687,502 of the 10,000,000 public shares, or approximately
5.39% of the shares sold as part of the units in this offering, to be voted in favor of our initial business combination
in order to have such transaction approved (assuming the underwriters' over-allotment option is not exercised). In addition,
in the event that our board of directors amends our bylaws to reduce the number of shares required to be present at a meeting
of our stockholders, we would need even fewer public shares to be voted in favor of our initial business combination to have such
transaction approved. 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 limitations described in the preceding paragraph).
Pursuant
to our amended and restated certificate of incorporation, if we are unable to complete our initial business combination within
18 months from the closing of this offering, we will (i) cease all operations except for the purpose of winding up, (ii) as
promptly as reasonably possible but not more than ten business days thereafter, 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 (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 liquidation 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 agreed to waive their rights to
liquidating distributions from the trust account with respect to their founder shares if we fail to complete our initial business
combination within 18 months from the closing of this offering (or up to 24 months from the closing of this offering if we extend
the period of time to consummate a business combination, as described in more detail in this prospectus). However, if our initial
stockholders acquire public shares after this offering, they will be entitled to liquidating distributions from the trust account
with respect to such public shares 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 a 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, including interest (which interest shall be net of taxes payable) upon the completion of our initial business
combination, subject to the limitations described herein.
106
Founder
Shares
The
founder shares are identical to the shares of common stock included in the units being sold in this offering, and holders of founder
shares have the same stockholder rights as public stockholders, except that (i) the founder shares are subject to certain
transfer restrictions, as described in more detail below; (ii)(A) our sponsors, officers and directors have entered into a letter
agreement with us, pursuant to which they have agreed to waive their redemption rights with respect to their founder shares and
public shares in connection with the completion of our initial business combination and (B) our sponsors, officers and directors
have agreed to waive their rights to liquidating distributions from the trust account with respect to their founder shares if
we fail to complete our initial business combination within 18 months from the closing of this offering (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 business combination within such time period); and (iii) the founder shares are subject to registration rights. If we
submit our initial business combination to our public stockholders for a vote, our sponsors, officers and directors have agreed
to vote their founder shares and any public shares purchased during or after this offering in favor of our initial business combination.
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 initial stockholders, each of whom will be subject to the same transfer restrictions)
until the earlier of one year after the completion of our initial business combination or earlier if, (x) subsequent to our
initial business combination, the last sale price of the 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 following the completion
of our initial business combination on which we complete a liquidation, merger, stock exchange or other similar transaction that
results in all of our public stockholders having the right to exchange their shares of common stock for cash, securities or other
property. Up to 375,000 founder shares will be forfeited by our sponsors depending on the exercise of the underwriters'
over-allotment option.
Preferred
Stock
Our
amended and restated certificate of incorporation will provide that shares of preferred stock may be issued from time to time
in one or more series. Our board of directors will be authorized to fix the voting rights, if any, designations, powers, preferences,
the relative, participating, optional or other special rights and any qualifications, limitations and restrictions thereof, applicable
to the shares of each series. Our board of directors will be able to, without stockholder approval, issue preferred stock with
voting and other rights that could adversely affect the voting power and other rights of the holders of the common stock and could
have anti-takeover effects. The ability of our board of directors to issue preferred stock without stockholder approval could
have the effect of delaying, deferring or preventing a change of control of us or the removal of existing management. We have
no preferred stock outstanding at the date hereof. Although we do not currently intend to issue any shares of preferred stock,
we cannot assure you that we will not do so in the future. No shares of preferred stock are being issued or registered in this
offering.
Warrants
Public
Warrants
Each
whole warrant entitles the registered holder to purchase one share of our 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 this offering or 30 days
after the completion of our initial business combination, and only whole warrants are exercisable. Pursuant to the warrant agreement,
a warrant holder may exercise its warrants only for a whole number of shares of common stock. This means only a whole warrant
may be exercised at a given time by a warrant holder. No fractional warrants will be issued upon separation of the units and only
whole warrants will trade. Accordingly, unless you purchase at least two units, you will not be able to receive or trade a whole
warrant. The warrants will expire five years after the completion of our initial business combination, at 5:00 p.m., New York
City time, or earlier upon redemption or liquidation.
We
will not be obligated to deliver any shares of 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 with respect to the shares of 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 for cash, and we will not be obligated to issue any
shares to holders seeking to exercise their warrants, unless the issuance of the shares upon such exercise is registered or qualified
under the securities laws of the state of the exercising holder, or an exemption is available. Notwithstanding the foregoing,
if a registration statement covering the shares of common stock issuable upon exercise of the public warrants is not effective
within a specified period following the consummation of our initial business combination, warrant holders may, until such time
as there is an effective registration statement and during any period when we shall have failed to maintain an effective registration
statement, exercise warrants on a cashless basis pursuant to the exemption provided by Section 3(a)(9) of the Securities
Act, provided that such exemption is available. If that exemption, or another exemption, is not available, holders will not be
able to exercise their warrants on a cashless basis.
107
We
have agreed that as soon as practicable, but in no event later than 30 business days, after the closing of our initial business
combination, we will use our reasonable best efforts to file, and within 90 business days after the closing of our initial business
combination, to have declared effective, a registration statement relating to the shares of common stock issuable upon exercise
of the warrants and to maintain the effectiveness of such registration statement, and a current prospectus relating thereto, until
the expiration of the warrants in accordance with the provisions of the warrant agreement. Notwithstanding the above, if our common
stock is at the time of any exercise of a warrant not listed on a national securities exchange such that it satisfies 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 will use our best efforts to qualify the shares under applicable blue sky laws to the extent an exemption is not available.
Once
the warrants become exercisable, we may call the warrants for redemption:
●
in
                                         whole and not in part;
●
at
                                         a price of $0.01 per warrant;
●
upon
                                         not less than 30 days' prior written notice of redemption (the "30-day redemption
                                         period") to each warrant holder; and
●
if,
                                         and only if, the reported last sale price of the common stock equals or exceeds $18.00
                                         per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations
                                         and the like) for any 20 trading days within a 30-trading day period ending
                                         on the third trading day prior to the date we send to the notice of redemption to the
                                         warrant holders.
We
may not redeem the warrants when a holder may not exercise such warrants.
We
have established the last of the redemption criterion discussed above to prevent a redemption call unless there is at the time
of the call a significant premium to the warrant exercise price. If the foregoing conditions are satisfied and we issue a notice
of redemption of the warrants, each warrant holder will be entitled to exercise his, her or its warrant prior to the scheduled
redemption date. However, the price of the common stock may fall below the $18.00 redemption trigger price as well as the $11.50
warrant exercise price (for whole shares) after the redemption notice is issued.
If
we call the warrants for redemption as described above, our management will have the option to require any holder that wishes
to exercise his, her or its warrant to do so on a "cashless basis." In determining whether to require all holders
to exercise their warrants on a "cashless basis," our management will consider, among other factors, our cash position,
the number of warrants that are outstanding and the dilutive effect on our stockholders of issuing the maximum number of shares
of common stock issuable upon the exercise of our warrants. If our management takes advantage of this option, all holders of warrants
would pay the exercise price by surrendering their warrants for that number of shares of common stock equal to the quotient obtained
by dividing (x) the product of the number of shares of common stock underlying the warrants, multiplied by the difference
between the exercise price of the warrants and the "fair market value" (defined below) by (y) the fair market
value. The "fair market value" shall mean the average reported last sale price of the common stock for the 10 trading
days ending on the third trading day prior to the date on which the notice of redemption is sent to the holders of warrants. If
our management takes advantage of this option, the notice of redemption will contain the information necessary to calculate the
number of shares of common stock to be received upon exercise of the warrants, including the "fair market value" in
such case. Requiring a cashless exercise in this manner will reduce the number of shares to be issued and thereby lessen the dilutive
effect of a warrant redemption. We believe this feature is an attractive option to us if we do not need the cash from the exercise
of the warrants after our initial business combination. If we call our warrants for redemption and our management does not take
advantage of this option, our initial stockholders and its permitted transferees would still be entitled to exercise their private
placement warrants for cash or on a cashless basis using the same formula described above that other warrant holders would have
been required to use had all warrant holders been required to exercise their warrants on a cashless basis, as described in more
detail below.
108
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 and any of its affiliates
or any other person subject to aggregation with such person for 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, would beneficially own (within the meaning of Section 13 of the Exchange
Act) (or to the extent that for any reason the equivalent calculation under Section 16 of the Exchange Act and the rules
and regulations thereunder would result in a higher ownership percentage, such higher percentage would be) in excess of 9.8% (or
such other amount as a holder may specify) of the shares of common stock outstanding immediately after giving effect to such exercise.
If
the number of outstanding shares of common stock is increased by a stock dividend payable in shares of common stock, or by a split-up of
shares of 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 common stock issuable on exercise of each warrant will be increased in proportion to such increase
in the outstanding shares of common stock. A rights offering to holders of common stock entitling holders to purchase shares of
common stock at a price less than the fair market value will be deemed a stock dividend of a number of shares of common stock
equal to the product of (i) the number of shares of 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 common stock) multiplied
by (ii) one (1) minus the quotient of (x) the price per share of common stock paid in such rights offering divided
by (y) the fair market value. For these purposes (i) if the rights offering is for securities convertible into or exercisable
for common stock, in determining the price payable for common stock, there will be taken into account any consideration received
for such rights, as well as any additional amount payable upon exercise or conversion and (ii) fair market value means the
volume weighted average price of common stock as reported during the ten (10) trading day period ending on the trading day
prior to the first date on which the shares of 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 common stock on account of such shares of 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,
(c) to satisfy the redemption rights of the holders of common stock in connection with a proposed initial business combination,
(d) as a result of the repurchase of shares of common stock by the company if the proposed initial business combination is
presented to the stockholders of the company for approval, 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 common stock in respect of such event.
If
the number of outstanding shares of our common stock is decreased by a consolidation, combination, reverse stock split or reclassification
of shares of 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 common stock issuable on exercise of each warrant will be decreased
in proportion to such decrease in outstanding shares of common stock.
Whenever
the number of shares of 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 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 common stock so purchasable immediately
thereafter.
109
In
case of any reclassification or reorganization of the outstanding shares of common stock (other than those described above or
that solely affects the par value of such shares of 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 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 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. However, if such holders were entitled to exercise a right of election as to the
kind or amount of securities, cash or other assets receivable upon such consolidation or merger, then the kind and amount of securities,
cash or other assets for which each warrant will become exercisable will be deemed to be the weighted average of the kind and
amount received per share by such holders in such consolidation or merger that affirmatively make such election, and if a tender,
exchange or redemption offer has been made to and accepted by such holders (other than a tender, exchange or redemption offer
made by the company in connection with redemption rights held by stockholders of the company as provided for in the company's
amended and restated certificate of incorporation or as a result of the repurchase of shares of common stock by the company if
a proposed initial business combination is presented to the stockholders of the company for approval) under circumstances in which,
upon completion of such tender or exchange offer, the maker thereof, together with members of any group (within the meaning of Rule 13d-5(b)(1) under
the Exchange Act) of which such maker is a part, and together with any affiliate or associate of such maker (within the meaning
of Rule 12b-2 under the Exchange Act) and any members of any such group of which any such affiliate or associate
is a part, own beneficially (within the meaning of Rule 13d-3 under the Exchange Act) more than 50% of the outstanding
shares of common stock , the holder of a warrant will be entitled to receive the highest amount of cash, securities or other property
to which such holder would actually have been entitled as a stockholder if such warrant holder had exercised the warrant prior
to the expiration of such tender or exchange offer, accepted such offer and all of the common stock held by such holder had been
purchased pursuant to such tender or exchange offer, subject to adjustments (from and after the consummation of such tender or
exchange offer) as nearly equivalent as possible to the adjustments provided for in the warrant agreement.
The
warrants will be issued in registered form under a warrant agreement between Continental Stock Transfer & Trust Company,
as warrant agent, and us. You should review a copy of the warrant agreement, which will be filed as an exhibit to the registration
statement of which this prospectus is 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 65% of the then outstanding public warrants
to make any change that adversely affects the interests of the registered holders of public warrants.
The
warrants may be exercised upon surrender of the warrant certificate on or prior to the expiration date at the offices of the warrant
agent, with the exercise form on the reverse side of the warrant certificate completed and executed as indicated, accompanied
by full payment of the exercise price (or on a cashless basis, if applicable), by certified or official bank check payable to
us, for the number of warrants being exercised. The warrant holders do not have the rights or privileges of holders of common
stock and any voting rights until they exercise their warrants and receive shares of common stock. After the issuance of shares
of common stock upon exercise of the warrants, each holder will be entitled to one vote for each share held of record on all matters
to be voted on by 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 common
stock to be issued to the warrant holder.
Private
Placement Warrants
The
private placement warrants (including the common stock issuable upon exercise of the private placement warrants) will (with limited
exceptions) not be transferable, assignable or salable until 30 days after the completion of our initial business combination
and they will not be redeemable by us so long as they are held by the original holders or their permitted transferees. Otherwise,
the private placement warrants have terms and provisions that are identical to those of the warrants being sold as part of the
units in this offering. If the private placement warrants are held by holders other than the original holders or their 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 this offering.
If
holders of the private placement warrants elect to exercise them on a cashless basis, they would pay the exercise price by surrendering
his, her or its warrants for that number of shares of common stock equal to the quotient obtained by dividing (x) the product
of the number of shares of common stock underlying the warrants, multiplied by the difference between the exercise price of the
warrants and the "fair market value" (defined below) by (y) the fair market value. The "fair market value"
shall mean the average reported last sale price of the common stock for the 10 trading days ending on the third trading day prior
to the date on which the notice of warrant exercise is sent to the warrant agent.
110
In
order to finance transaction costs in connection with an intended initial business combination, our initial stockholders or an
affiliate of our initial stockholders or certain of our officers and directors may, but are not obligated to, loan us funds as
may be required. Up to $1,500,000 of such working capital loans may be convertible, at the option of the lender, into private
placement-equivalent warrants at a price of $1.00 per warrant. The 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 initial stockholders
or its affiliates, or our officers and directors, if any, have not been determined and no written agreements exist with respect
to such loans.
In
addition, holders of our private placement warrants are entitled to certain registration rights.
Dividends
We
have not paid any cash dividends on our common stock to date and do not intend to pay cash dividends prior to the completion of
a business combination. The payment of cash dividends in the future will be dependent upon our revenues and earnings, if any,
capital requirements and general financial condition subsequent to completion of a business combination. The payment of any cash
dividends subsequent to a business combination will be within the discretion of our board of directors at such time. In addition,
our board of directors is not currently contemplating and does not anticipate declaring any stock dividends in the foreseeable
future, except if we increase the size of the offering, in which case we will effect a stock dividend with respect to our common
stock immediately prior to the consummation of the offering in such amount as to maintain the ownership of founder shares by our
initial stockholders prior to this offering at 20.0% of our issued and outstanding shares of our common stock upon the consummation
of this offering (excluding the Representative's shares). Further, if we incur any indebtedness, our ability to declare
dividends may be limited by restrictive covenants we may agree to in connection therewith.
Our
Transfer Agent and Warrant Agent
The
transfer agent for our 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 liabilities, including judgments, costs
and reasonable counsel fees 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
Provisions
Relating to this Offering
Our
amended and restated certificate of incorporation will contain certain requirements and restrictions relating to this 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 common stock. Our initial stockholders, who will collectively beneficially own
20.0% of our common stock upon the closing of this offering (excluding the Representative's shares), will 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. Specifically, our amended and restated certificate of incorporation will provide, among other things, that:
●
if
                                         we are unable to complete our initial business combination within 18 months from the
                                         closing of this offering (or up to 24 months from the closing of this offering if we
                                         extend the period of time to consummate a business combination, as described in more
                                         detail in this prospectus), we will (i) cease all operations except for the purpose
                                         of winding up, (ii) as promptly as reasonably possible but not more than ten business
                                         days thereafter, subject to lawfully available funds therefor, redeem 100% of 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
                                         liquidation 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;
111
●
prior
                                         to our initial business combination, we may not issue additional shares of capital stock
                                         that would entitle the holders thereof to (i) receive funds from the trust account
                                         or (ii) vote on any initial business combination;
●
so
                                         long as we obtain and maintain a listing for our securities on Nasdaq, our initial business
                                         combination must be with one or more target businesses that together have an aggregate
                                         fair market value equal to at least 80% of the value of the assets held in the trust
                                         account (excluding taxes payable on the interest earned on the trust account) at the
                                         time of our signing a definitive agreement in connection with our initial business combination;
●
if
                                         our stockholders approve an amendment to our amended and restated certificate of incorporation
                                         (i) to modify the substance or timing of our obligation to redeem 100% of our public
                                         shares if we do not complete our initial business combination within 18 months from the
                                         closing of this offering or (ii) with respect to any other provision relating to
                                         stockholders' rights or pre-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 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 both immediately before and after the
consummation of our initial business combination.
Certain
Anti-Takeover Provisions of Delaware Law and our Amended and Restated Certificate of Incorporation and Bylaws
We
will be subject to the provisions of Section 203 of the DGCL regulating corporate takeovers upon completion of this 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 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.
112
Exclusive
Forum for Certain Lawsuits
Our
amended and restated certificate of incorporation will require, unless we consent in writing to the selection of an alternative
forum, that (i) any derivative action or proceeding brought on our behalf, (ii) any action asserting a claim of breach
of a fiduciary duty owed by any director, officer or other employee to us or our stockholders, (iii) any action asserting
a claim against us, our directors, officers or employees arising pursuant to any provision of the DGCL or our amended and restated
certificate of incorporation or bylaws, or (iv) any action asserting a claim against us, our directors, officers or employees
governed by the internal affairs doctrine may be brought only in the Court of Chancery in the State of Delaware, except any claim
(A) as to which the Court of Chancery of 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 arising under the Securities Act, as to which the Court of Chancery and the federal district court for
the District of Delaware shall have concurrent 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. 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.
Notwithstanding
the foregoing, our amended and restated certificate of incorporation will provide that the exclusive forum provision will not
apply to suits brought to enforce a duty or liability created by the Exchange Act or any other claim for which the federal courts
have exclusive jurisdiction. 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.
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 our
Chief Executive Officer or by our Chairman.
Advance
Notice Requirements for Stockholder Proposals and Director Nominations
Our
bylaws provide that stockholders seeking to bring business before our annual meeting of stockholders, or to nominate candidates
for election as directors at our annual meeting of stockholders must provide timely notice of their intent in writing. To be timely,
a stockholder's notice will need to be received by the company secretary at our principal executive offices not later than
the close of business on the 90
th
day nor earlier than the opening of business on the 120
th
day
prior to the anniversary of the immediately preceding annual meeting of stockholders. Pursuant to Rule 14a-8 of
the Exchange Act, proposals seeking inclusion in our annual proxy statement must comply with the notice periods contained therein.
Our bylaws also specify certain requirements as to the form and content of a stockholders' meeting. These provisions may
preclude our stockholders from bringing matters before our annual meeting of stockholders or from making nominations for directors
at our annual meeting of stockholders.
Action
by Written Consent
Subsequent
to the consummation of the 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.
113
Securities
Eligible for Future Sale
Immediately
after this offering we will have 12,750,000 (or 14,662,500 if the underwriters' over-allotment option is exercised in full)
shares of common stock outstanding. The 10,000,000 shares (or 11,500,000 shares if the underwriters' over-allotment option
is exercised in full) sold in this offering will be freely tradable without restriction or further registration under the Securities
Act, except for any shares purchased by one of our affiliates within the meaning of Rule 144 under the Securities Act. All
of the 2,500,000 (or 2,875,000 if the underwriters' over-allotment option is exercised in full) founder shares are restricted
securities under Rule 144, in that they were issued in private transactions not involving a public offering, and are subject
to transfer restrictions as set forth elsewhere in this prospectus. These restricted securities will be subject to registration
rights as more fully described below under "— Registration Rights."
Rule 144
Pursuant
to Rule 144, a person who has beneficially owned restricted shares of our common stock or warrants for at least six months
would be entitled to sell their securities provided that (i) such person is not deemed to have been one of our affiliates
at the time of, or at any time during the three months preceding, a sale and (ii) we are subject to the Exchange Act periodic
reporting requirements for at least three months before the sale and have filed all required reports under Section 13 or
15(d) of the Exchange Act during the 12 months (or such shorter period as we were required to file reports) preceding the sale.
Persons
who have beneficially owned restricted shares of our common stock or warrants for at least six months but who are our affiliates
at the time of, or at any time during the three months preceding, a sale, would be subject to additional restrictions, by which
such person would be entitled to sell within any three-month period only a number of securities that does not exceed the greater
of:
●
1%
                                         of the total number of shares of common stock then outstanding, which will equal __________
                                         shares immediately after this offering (or _______ if the underwriters exercise the underwriters'
                                         over-allotment option in full); or
●
the
                                         average weekly reported trading volume of the common stock during the four calendar weeks
                                         preceding the filing of a notice on Form 144 with respect to the sale.
Sales
by our affiliates under Rule 144 are also limited by manner of sale provisions and notice requirements and to the availability
of current public information about us.
Restrictions
on the Use of Rule 144 by Shell Companies or Former Shell Companies
Rule 144
is not available for the resale of securities initially issued by shell companies (other than business combination related shell
companies) or issuers that have been at any time previously a shell company. However, Rule 144 also includes an important
exception to this prohibition if the following conditions are met:
●
the
                                         issuer of the securities that was formerly a shell company has ceased to be a shell company;
●
the
                                         issuer of the securities is subject to the reporting requirements of Section 13
                                         or 15(d) of the Exchange Act;
●
the
                                         issuer of the securities has filed all Exchange Act reports and materials required to
                                         be filed, as applicable, during the preceding 12 months (or such shorter period that
                                         the issuer was required to file such reports and materials), other than Form 8-K reports;
                                         and
●
at
                                         least one year has elapsed from the time that the issuer filed current Form 10 type
                                         information with the SEC reflecting its status as an entity that is not a shell company.
As
a result, our initial stockholders will be able to sell their founder shares and private placement warrants (and underlying securities),
as applicable, pursuant to Rule 144 without registration one year after we have completed our initial business combination.
114
Registration
Rights
The
holders of the founder shares, the private placement warrants (and underlying securities) and private placement warrants that
may be issued upon conversion of working capital loans (and any underlying securities) will be entitled to registration rights
pursuant to a registration rights agreement to be signed prior to or on the closing date of this offering requiring us to register
such securities for resale. The holders of these securities are entitled to make up to three demands, excluding short form demands,
that we register such securities. In addition, the holders have certain "piggy-back" registration rights with respect
to registration statements filed subsequent to the completion of our initial business combination. However, the registration rights
agreement provides that we will not permit any registration statement filed under the Securities Act to become effective until
termination of the applicable lock-up period described above "Principal Stockholders — Transfers of Founder
Shares, Private Placement Warrants and Underlying Securities." We will bear the expenses incurred in connection with the
filing of any such registration statements.
Listing
of Securities
We
intend to apply to list our units, common stock and warrants on Nasdaq under the symbols "                U,"
"                " and "                W,"
respectively. We expect that our units will be listed on Nasdaq on or promptly after the effective date of the registration statement.
Following the date the shares of our common stock and warrants are eligible to trade separately, we anticipate that the shares
of our common stock and warrants will be listed separately on Nasdaq. At the time that the common stock and warrants comprising
the units begin separate trading, holders will hold the separate securities and no longer hold units (without any action needing
to be taken by the holders), and the units will no longer trade.
115
UNITED
STATES FEDERAL INCOME TAX CONSIDERATIONS
The
following is a discussion of U.S. federal income tax considerations generally applicable to the acquisition, ownership and disposition
of our units, shares of common stock and warrants, which we refer to collectively as our securities. Because the components of
a unit are separable at the option of the holder, the holder of a unit generally should be treated, for U.S. federal income tax
purposes, as the owner of the underlying common stock and warrant components of the unit, as the case may be. As a result, the
discussion below with respect to actual holders of common stock and warrants should also apply to holders of units (as the deemed
owners of the underlying common stock and warrants that comprise the units). This discussion applies only to securities that are
held as a capital asset for U.S. federal income tax purposes and is applicable only to holders who purchased units in this offering.
This
discussion does not describe all of the tax consequences that may be relevant to you in light of your particular circumstances,
including the alternative minimum tax, the Medicare tax on certain investment income and the different consequences that may apply
if you are subject to special rules that apply to certain types of investors, including but not limited to:
●
financial
                                         institutions;
●
insurance
                                         companies;
●
dealers
                                         or traders subject to a mark-to-market method of accounting with respect to
                                         the securities;
●
persons
                                         holding the securities as part of a "straddle," hedge, integrated transaction
                                         or similar transaction;
●
U.S.
                                         holders (as defined below) whose functional currency is not the U.S. dollar;
●
partnerships
                                         or other pass-through entities for U.S. federal income tax purposes and any beneficial
                                         owners of such entities; and
●
tax-exempt entities.
If
a partnership (including an entity or arrangement treated as a partnership for U.S. federal income tax purposes) holds our securities,
the tax treatment of a partner, member or other beneficial owner in such partnership will generally depend upon the status of
the partner, member or other beneficial owner, the activities of the partnership and certain determinations made at the partner,
member or other beneficial owner level. If you are a partner, member or other beneficial owner of a partnership holding our securities,
you are urged to consult your tax advisor regarding the tax consequences of the ownership and disposition of our securities.
This
discussion is based on the Internal Revenue Code of 1986, as amended (the "Code"), and administrative pronouncements,
judicial decisions and final, temporary and proposed Treasury regulations as of the date hereof, changes to any of which subsequent
to the date of this prospectus may affect the tax consequences described herein. This discussion does not address any aspect of
state, local or non-U.S. taxation, or any U.S. federal taxes other than income taxes (such as gift and estate taxes).
You
are urged to consult your tax advisor with respect to the application of U.S. federal tax laws to your particular situation, as
well as any tax consequences arising under the laws of any state, local or foreign jurisdiction.
Personal
Holding Company Status
We
could be subject to a second level of U.S. federal income tax on a portion of our income if we are determined to be a personal
holding company, or PHC, for U.S. federal income tax purposes. A U.S. corporation generally will be classified as a PHC for U.S.
federal income tax purposes in a given taxable year if (i) at any time during the last half of such taxable year, five or
fewer individuals (without regard to their citizenship or residency and including as individuals for this purpose certain entities
such as certain tax-exempt organizations, pension funds and charitable trusts) own or are deemed to own (pursuant to
certain constructive ownership rules) more than 50% of the stock of the corporation by value and (ii) at least 60% of the
corporation's adjusted ordinary gross income, as determined for U.S. federal income tax purposes, for such taxable year
consists of PHC income (which includes, among other things, dividends, interest, certain royalties, annuities and, under certain
circumstances, rents).
116
Depending
on the date and size of our initial business combination, at least 60% of our adjusted ordinary gross income may consist of PHC
income as discussed above. In addition, depending on the concentration of our stock in the hands of individuals, including certain tax-exempt organizations,
pension funds and charitable trusts, more than 50% of our stock may be owned or deemed owned (pursuant to the constructive ownership
rules) by such persons during the last half of a taxable year. Thus, no assurance can be given that we will not be a PHC following
this offering or in the future. If we are or were to become a PHC in a given taxable year, we would be subject to an additional
PHC tax, currently 20%, on our undistributed PHC income, which generally includes our taxable income, subject to certain adjustments.
Allocation
of Purchase Price and Characterization of a Unit
No
statutory, administrative or judicial authority directly addresses the treatment of a unit for U.S. federal income tax purposes
and, therefore, that treatment is not entirely clear. The acquisition of a unit should be treated for U.S. federal income tax
purposes as the acquisition of one share of our common stock and one-half of one warrant to acquire one share of our
common stock. We intend to treat the acquisition of a unit in this manner and, by purchasing a unit, you will agree to adopt such
treatment for U.S. federal income tax purposes. For U.S. federal income tax purposes, each holder of a unit must allocate the
purchase price paid by such holder for such unit between the one share of common stock and the one-half of one warrant
based on the relative fair market value of each at the time of issuance. The price allocated to each share of common stock and
the one-half of one warrant should be the stockholder's tax basis in such share or warrant, as the case may be.
Any disposition of a unit should be treated for U.S. federal income tax purposes as a disposition of the share of common stock
and one-half of one warrant comprising the unit, and the amount realized on the disposition should be allocated between
the common stock and one-half of one warrant based on their respective relative fair market values at the time of disposition.
The separation of shares of common stock and warrants comprising units should not be a taxable event for U.S. federal income tax
purposes.
The
foregoing treatment of the shares of common stock and warrants and a holder's purchase price allocation are not binding
on the Internal Revenue Service ("IRS") or the courts. Because there are no authorities that directly address the
units, no assurance can be given that the IRS or the courts will agree with the characterization described above or the discussion
below. Accordingly, each prospective investor is urged to consult its own tax advisors regarding the tax consequences of an investment
in a unit (including alternative characterizations of a unit). The balance of this discussion assumes that the characterization
of the units described above is respected for U.S. federal income tax purposes.
U.S.
Holders
This
section applies to you if you are a "U.S. holder." A U.S. holder is a beneficial owner of our units, shares of common
stock or warrants who or that is, for U.S. federal income tax purposes:
●
an
                                         individual who is a citizen or resident of the United States;
●
a
                                         corporation (or other entity taxable as a corporation for U.S. federal income tax purposes)
                                         organized in or under the laws of the United States, any state thereof or the District
                                         of Columbia;
●
an
                                         estate the income of which is includible in gross income for United States federal
                                         income tax purposes regardless of its source; or
●
a
                                         trust (A) the administration of which is subject to the primary supervision of a
                                         United States court and which has one or more United States persons (within
                                         the meaning of the Code) who have the authority to control all substantial decisions
                                         of the trust or (B) that has in effect a valid election under applicable Treasury
                                         regulations to be treated as a United States person.
Taxation
of Distributions
. If we pay distributions to U.S. holders of shares of our common stock, such distributions generally will
constitute dividends for U.S. federal income tax purposes to the extent paid from our current or accumulated earnings and profits,
as determined under U.S. federal income tax principles. Distributions in excess of current and accumulated earnings and profits
will constitute a return of capital that will be applied against and reduce (but not below zero) the U.S. holder's adjusted
tax basis in our common stock. Any remaining excess will be treated as gain realized on the sale or other disposition of the common
stock and will be treated as described under "U.S. Holders — Gain or Loss on Sale, Taxable Exchange or Other
Taxable Disposition of Common Stock and Warrants" below.
117
Dividends
we pay to a U.S. holder that is a taxable corporation generally will qualify for the dividends received deduction if the requisite
holding period is satisfied. With certain exceptions (including, but not limited to, dividends treated as investment income for
purposes of investment interest deduction limitations), and provided certain holding period requirements are met, dividends we
pay to a non-corporate U.S. holder generally will constitute "qualified dividends" that will be subject
to tax at the maximum tax rate accorded to long-term capital gains. It is unclear whether the redemption rights with respect to
the common stock described in this prospectus may prevent a U.S. holder from satisfying the applicable holding period requirements
with respect to the dividends received deduction or the preferential tax rate on qualified dividend income, as the case may be.
Gain
or Loss on Sale, Taxable Exchange or Other Taxable Disposition of Common Stock and Warrants.
Upon a sale or other taxable
disposition of our common stock or warrants which, in general, would include a redemption of common stock or warrants that is
treated as a sale of such securities as described below, and including as a result of a dissolution and liquidation in the event
we do not consummate an initial business combination within the required time period, a U.S. holder generally will recognize capital
gain or loss in an amount equal to the difference between the amount realized and the U.S. holder's adjusted tax basis in
the common stock or warrants. Any such capital gain or loss generally will be long-term capital gain or loss if the U.S. holder's
holding period for the common stock or warrants so disposed of exceeds one year. It is unclear, however, whether the redemption
rights with respect to the common stock described in this prospectus may suspend the running of the applicable holding period
for this purpose. Long-term capital gains recognized by non-corporate U.S. holders will be eligible to be taxed at reduced
rates. The deductibility of capital losses is subject to limitations.
Generally,
the amount of gain or loss recognized by a U.S. holder is an amount equal to the difference between (i) the sum of the amount
of cash and the fair market value of any property received in such disposition (or, if the common stock or warrants are held as
part of units at the time of the disposition, the portion of the amount realized on such disposition that is allocated to the
common stock or the warrants based upon the then fair market values of the common stock and the warrants included in the units)
and (ii) the U.S. holder's adjusted tax basis in its common stock or warrants so disposed of. A U.S. holder's
adjusted tax basis in its common stock or warrants generally will equal the U.S. holder's acquisition cost (that is, as
discussed above, the portion of the purchase price of a unit allocated to a share of common stock or one warrant or, as discussed
below, the U.S. holder's initial basis for common stock received upon exercise of warrants) less, in the case of a share
of common stock, any prior distributions treated as a return of capital.
Redemption
of Common Stock.
In the event that a U.S. holder's common stock is redeemed pursuant to the redemption provisions
described in this prospectus under "Description of Securities — Common Stock" or if we purchase a U.S.
holder's common stock in an open market transaction, the treatment of the transaction for U.S. federal income tax purposes
will depend on whether the redemption qualifies as sale of the common stock under Section 302 of the Code. If the redemption
qualifies as a sale of common stock, the U.S. holder will be treated as described under "U.S. Holders — Gain
or Loss on Sale, Taxable Exchange or Other Taxable Disposition of Common Stock and Warrants" above. If the redemption does
not qualify as a sale of common stock, the U.S. holder will be treated as receiving a corporate distribution with the tax consequences
described above under "U.S. Holders — Taxation of Distributions." Whether a redemption qualifies for
sale treatment will depend largely on the total number of shares of our stock treated as held by the U.S. holder (including any
stock constructively owned by the U.S. holder as a result of owning warrants) relative to all of our shares outstanding both before
and after the redemption. The redemption of common stock generally will be treated as a sale of the common stock (rather than
as a corporate distribution) if the redemption (i) is "substantially disproportionate" with respect to the U.S.
holder, (ii) results in a "complete termination" of the U.S. holder's interest in us or (iii) is "not
essentially equivalent to a dividend" with respect to the U.S. holder. These tests are explained more fully below.
118
In
determining whether any of the foregoing tests are satisfied, a U.S. holder takes into account not only stock actually owned by
the U.S. holder, but also shares of our stock that are constructively owned by it. A U.S. holder may constructively own, in addition
to stock owned directly, stock owned by certain related individuals and entities in which the U.S. holder has an interest or that
have an interest in such U.S. holder, as well as any stock the U.S. holder has a right to acquire by exercise of an option, which
would generally include common stock which could be acquired pursuant to the exercise of the warrants. In order to meet the substantially
disproportionate test, the percentage of our outstanding voting stock actually and constructively owned by the U.S. holder immediately
following the redemption of common stock must, among other requirements, be less than 80% of the percentage of our outstanding
voting stock actually and constructively owned by the U.S. holder immediately before the redemption. There will be a complete
termination of a U.S. holder's interest if either (i) all of the shares of our stock actually and constructively owned
by the U.S. holder are redeemed or (ii) all of the shares of our stock actually owned by the U.S. holder are redeemed and
the U.S. holder is eligible to waive, and effectively waives in accordance with specific rules, the attribution of stock owned
by certain family members and the U.S. holder does not constructively own any other stock. The redemption of the common stock
will not be essentially equivalent to a dividend if a U.S. holder's conversion results in a "meaningful reduction"
of the U.S. holder's proportionate interest in us. Whether the redemption will result in a meaningful reduction in a U.S.
holder's proportionate interest in us will depend on the particular facts and circumstances. However, the IRS has indicated
in a published ruling that even a small reduction in the proportionate interest of a small minority stockholder in a publicly
held corporation who exercises no control over corporate affairs may constitute such a "meaningful reduction." A U.S.
holder should consult with its own tax advisors as to the tax consequences of a redemption.
If
none of the foregoing tests is satisfied, then the redemption will be treated as a corporate distribution and the tax effects
will be as described under "U.S. Holders — Taxation of Distributions," above. After the application of
those rules, any remaining tax basis of the U.S. holder in the redeemed common stock will be added to the U.S. holder's
adjusted tax basis in its remaining stock, or, if it has none, to the U.S. holder's adjusted tax basis in its warrants or
possibly in other stock constructively owned by it.
Exercise
or Lapse of a Warrant.
Except as discussed below with respect to the cashless exercise of a warrant, a U.S. holder generally
will not recognize taxable gain or loss the acquisition of common stock upon exercise of a warrant for cash. The U.S. holder's
tax basis in the share of our common stock received upon exercise of the warrant generally will be an amount equal to the sum
of the U.S. holder's initial investment in the warrant (i.e., the portion of the U.S. holder's purchase price for
units that is allocated to the warrant, as described above under "— Allocation of Purchase Price and Characterization
of a Unit") and the exercise price. The U.S. holder's holding period for the common stock received upon exercise of
the warrants will begin on the date following the date of exercise (or possibly the date of exercise) of the warrants and will
not include the period during which the U.S. holder held the warrants. If a warrant is allowed to lapse unexercised, a U.S. holder
generally will recognize a capital loss equal to such holder's tax basis in the warrant.
The
tax consequences of a cashless exercise of a warrant are not clear under current tax law. A cashless exercise may be tax-free, either
because the exercise is not a realization event or because the exercise is treated as a recapitalization for U.S. federal income
tax purposes. In either tax-free situation, a U.S. holder's basis in the common stock received would equal the
holder's basis in the warrant. If the cashless exercise were treated as not being a realization event, a U.S. holder's
holding period in the common stock would be treated as commencing on the date following the date of exercise (or possibly the
date of exercise) of the warrant. If the cashless exercise were treated as a recapitalization, the holding period of the common
stock would include the holding period of the warrant.
It
is also possible that a cashless exercise could be treated as a taxable exchange in which gain or loss would be recognized. In
such event, a U.S. holder would recognize gain or loss with respect to the portion of the exercised warrants treated as surrendered
to pay the exercise price of the warrants (the "surrendered warrants"). The U.S. holder would recognize capital gain
or loss in an amount equal to the difference between the fair market value of the common stock represented by the surrendered
warrants and the sum of the U.S. holder's tax basis in the surrendered warrants and the aggregate exercise price of the
surrendered warrants (if they had been exercised in a regular exercise). In this case, a U.S. holder's tax basis in the
common stock received would equal the sum of the U.S. holder's initial investment in the warrants exercised (i.e., the portion
of the U.S. holder's purchase price for the units that is allocated to the warrant, as described above under "—
Allocation of Purchase Price and Characterization of a Unit") and the aggregate exercise price of such warrants. A U.S.
holder's holding period for the common stock would commence on the date following the date of exercise (or possibly the
date of exercise) of the warrant.
Due
to the absence of authority on the U.S. federal income tax treatment of a cashless exercise, there can be no assurance which,
if any, of the alternative tax consequences and holding periods described above would be adopted by the IRS or a court of law.
Accordingly, U.S. holders should consult their tax advisors regarding the tax consequences of a cashless exercise.
119
Possible
Constructive Distributions.
The terms of each warrant provide for an adjustment to the number of shares of common stock
for which the warrant may be exercised or to the exercise price of the warrant in certain events, as discussed in the section
of this prospectus entitled "Description of Securities — Warrants — Public Stockholders' Warrants."
An adjustment which has the effect of preventing dilution generally is not taxable. U.S. holders of the warrants would, however,
be treated as receiving a constructive distribution from us if, for example, the adjustment to the number of such shares or to
such exercise price increases the warrant holders' proportionate interest in our assets or earnings and profits (e.g., through
an increase in the number of shares of common stock that would be obtained upon exercise or through a decrease in the exercise
price of the warrant) as a result of a distribution of cash or other property, such as other securities, to the holders of shares
of our common stock, or as a result of the issuance of a stock dividend to holders of shares of our common stock, in each case
which is taxable to the holders of such shares as a distribution. A U.S. holder would be subject to tax on any such constructive
distribution in the same manner as if the U.S. holder received a cash distribution from us equal to the fair market value of such
increased interest.
Non-U.S. Holders
This
section applies to you if you are a "Non-U.S. holder." A Non-U.S. holder is a beneficial owner
of our units who or that is not a U.S. Holder or a partnership (or other entity or arrangement treated as a partnership) for U.S.
federal income tax purposes.
Taxation
of Distributions.
In general, any distributions we make to a Non-U.S. holder of shares of our common stock,
to the extent paid out of our current or accumulated earnings and profits (as determined under U.S. federal income tax principles),
will constitute dividends for U.S. federal income tax purposes and, provided such dividends are not effectively connected with
the Non-U.S. holder's conduct of a trade or business within the United States, we will be required to withhold
tax from the gross amount of the dividend at a rate of 30%, unless such Non-U.S. holder is eligible for a reduced rate
of withholding tax under an applicable income tax treaty and provides proper certification of its eligibility for such reduced
rate (usually on an IRS Form W-8BEN or W-8BEN-E). Any distribution not constituting a dividend will be
treated first as reducing (but not below zero) the Non-U.S. holder's adjusted tax basis in its shares of our common
stock and, to the extent such distribution exceeds the Non-U.S. holder's adjusted tax basis, as gain realized
from the sale or other disposition of the common stock, which will be treated as described under "Non-U.S. Holders —
Gain on Sale, Taxable Exchange or Other Taxable Disposition of Common Stock and Warrants" below. In addition, if we determine
that we are classified as a "United States real property holding corporation" (see "Non-U.S. Holders —
Gain on Sale, Taxable Exchange or Other Taxable Disposition of Common Stock and Warrants" below), we will withhold 15% of
any distribution that exceeds our current and accumulated earnings and profits.
Dividends
we pay to a Non-U.S. holder that are effectively connected with the Non-U.S. holder's conduct of a trade
or business within the United States (or if a tax treaty applies are attributable to a United States permanent establishment
or fixed base maintained by the Non-U.S. holder) will generally not be subject to U.S. withholding tax, provided such Non-U.S. holder
complies with certain certification and disclosure requirements (usually by providing an applicable IRS Form W-8). Instead,
such dividends will generally be subject to U.S. federal income tax as if the Non-U.S. holder were a U.S. resident,
subject to an applicable tax treaty providing otherwise. A Non-U.S. corporation receiving effectively connected dividends
may also be subject to an additional "branch profits tax" imposed at a rate of 30% (or a lower treaty rate).
Exercise
of a Warrant.
The U.S. federal income tax treatment of a Non-U.S. holder's exercise of a warrant, or
the lapse of a warrant held by a Non-U.S. holder generally will correspond to the U.S. federal income tax treatment
of a warrant by a U.S. holder, as described under "U.S. Holders — Exercise or Lapse of a Warrant" above,
although to the extent a cashless exercise results in a taxable exchange, the consequences would be similar to those described
below in "Non-U.S. Holders — Gain on Sale, Taxable Exchange or Other Taxable Disposition of Common
Stock and Warrants."
120
Gain
on Sale, Taxable Exchange or Other Taxable Disposition of Common Stock and Warrants.
A Non-U.S. holder generally
will not be subject to U.S. federal income or withholding tax in respect of gain realized on a sale, taxable exchange or other
taxable disposition of our common stock, which would include a dissolution and liquidation in the event we do not complete an
initial business combination within 18 months from the closing of this offering, or warrants (including an expiration or redemption
of our warrants), in each case without regard to whether those securities were held as part of a unit, unless:
●
the
                                         gain is effectively connected with the conduct of a trade or business by the Non-U.S. holder
                                         within the United States (or if a tax treaty applies are attributable to a United States
                                         permanent establishment or fixed base maintained by the Non-U.S. holder);
●
The Non-U.S. holder
                                         is an individual present in the United States for 183 days or more in the taxable
                                         year of disposition and certain other conditions are met; or
●
we
                                         are or have been a "United States real property holding corporation"
                                         for U.S. federal income tax purposes at any time during the shorter of the five-year
                                         period ending on the date of disposition or the period that the Non-U.S. holder
                                         held our common stock, and, in the case where shares of our common stock are regularly
                                         traded on an established securities market, the Non-U.S. holder has owned,
                                         directly or constructively, more than 5% of our common stock at any time within the shorter
                                         of the five-year period preceding the disposition or such Non-U.S. holder's
                                         holding period for the shares of our common stock. There can be no assurance that our
                                         common stock will be treated as regularly traded on an established securities market
                                         for this purpose.
Unless
an applicable tax treaty provides otherwise, gain described in the first bullet point above will be subject to tax at generally
applicable U.S. federal income tax rates as if the Non-U.S. holder were a U.S. resident. Any gains described in the
first bullet point above of a Non-U.S. holder that is a foreign corporation may also be subject to an additional "branch
profits tax" at a 30% rate (or lower treaty rate). Gain described in the second bullet point above will generally be subject
to a 30% U.S. federal income tax rate.
If
the third bullet point above applies to a Non-U.S. holder, gain recognized by such holder on the sale, exchange or other
disposition of our common stock or warrants will be subject to tax at generally applicable U.S. federal income tax rates. In addition,
a buyer of our common stock or warrants from such holder may be required to withhold U.S. federal income tax at a rate of 15%
of the amount realized upon such disposition. We cannot determine whether we will be a United States real property holding
corporation in the future until we complete an initial business combination. We will be classified as a United States real
property holding corporation if the fair market value of our "United States real property interests" equals or
exceeds 50 percent of the sum of the fair market value of our worldwide real property interests plus our other assets used
or held for use in a trade or business, as determined for U.S. federal income tax purposes.
Redemption
of Common Stock.
The characterization for U.S. federal income tax purposes of the redemption of a Non-U.S. holder's
common stock pursuant to the redemption provisions described in the section of this prospectus entitled "Description of
Securities — Common Stock" generally will correspond to the U.S. federal income tax characterization of such
a redemption of a U.S. holder's common stock, as described under "U.S. Holders — Redemption of Common Stock"
above, and the consequences of the redemption to the Non-U.S. holder will be as described above under "Non-U.S. Holders —
Taxation of Distributions" and "Non-U.S. holders — Gain on Sale, Taxable Exchange or Other Taxable
Disposition of Common Stock and Warrants," as applicable.
Possible
Constructive Distributions.
The terms of each warrant provide for an adjustment to the number of shares of common stock
for which the warrant may be exercised or to the exercise price of the warrant in certain events, as discussed in the section
of this prospectus entitled "Description of Securities — Warrants — Public Stockholders' Warrants."
An adjustment which has the effect of preventing dilution generally is not taxable. Non-U.S. holders of the warrants
would, however, be treated as receiving a constructive distribution from us if, for example, the adjustment to the number of such
shares or to such exercise price increases the warrantholders' proportionate interest in our assets or earnings and profits
(e.g., through an increase in the number of shares of common stock that would be obtained upon exercise or through a decrease
in the exercise price of the warrant) as a result of a distribution of cash or other property, such as other securities, to the
holders of shares of our common stock, or as a result of the issuance of a stock dividend to holders of shares of our common stock,
in each case which is taxable to the holders of such shares as a distribution. A Non-U.S. holder would be subject to
tax on any such constructive distribution in the same manner as if the Non-U.S. holder received a cash distribution
from us equal to the fair market value of such increased interest.
121
Information
Reporting and Backup Withholding.
Information returns will be filed with the IRS in connection with payments of dividends
and the proceeds from a sale or other disposition of our units, shares of common stock and warrants. A Non-U.S. holder
may have to comply with certification procedures to establish that it is not a United States person in order to avoid information
reporting and backup withholding requirements. The certification procedures required to claim a reduced rate of withholding under
a tax treaty will generally satisfy the certification requirements necessary to avoid the backup withholding as well. Backup withholding
is not an additional tax. The amount of any backup withholding from a payment to a Non-U.S. holder will be allowed as
a credit against such holder's U.S. federal income tax liability and may entitle such holder to a refund, provided that
the required information is timely furnished to the IRS.
FATCA
Withholding Taxes.
Sections 1471 through 1474 of the Code and the Treasury Regulations and administrative guidance
promulgated thereunder (commonly referred as the "Foreign Account Tax Compliance Act" or "FATCA") generally
impose withholding at a rate of 30% in certain circumstances on dividends (including constructive distributions) and certain other
payments paid to certain foreign financial institutions (including certain investment vehicles) and certain other non-U.S. entities
unless various U.S. information reporting and due diligence requirements (generally relating to ownership by U.S. persons of interests
in or accounts with those entities) have been satisfied, or an exemption applies. Such an exemption must typically be evidenced
by delivery of a properly executed IRS Form W-8BEN-E. An intergovernmental agreement between the United States
and the entity's jurisdiction may modify these requirements. If FATCA withholding is imposed, a Non-U.S. holder
that is not a foreign financial institution generally will be entitled to a refund of any amounts withheld by filing a U.S. federal
income tax return (which may entail significant administrative burden).
122
UNDERWRITING
I-Bankers is
acting as the representative of the underwriters named below. Subject to the terms and conditions of the underwriting agreement,
the underwriters named below have severally agreed to purchase from us on a firm commitment basis, and we have agreed to sell
to that underwriter, the respective number of units set forth opposite the underwriter's name, at a public offering price
less the underwriting discounts and commissions set forth on the cover page of this prospectus:
Underwriter
Number
    of
Units
I-Bankers Securities,
    Inc.
Total
10,000,000
The
underwriting agreement provides that the obligations of the underwriters to purchase the units included in this offering are subject
to approval of legal matters by counsel and to other conditions. The underwriters are obligated to purchase all of the units (other
than those covered by the underwriters' over-allotment option described below) if they purchase any of the units.
Units
sold by the underwriters to the public will initially be offered at the initial public offering price set forth on the cover of
this prospectus. After the initial public offering, the underwriters may change the offering price and the other selling terms.
The offering of the units by the underwriters is subject to receipt and acceptance and subject to the underwriters' right
to reject any order in whole or in part. The underwriters do not intend to make sales to discretionary accounts.
If
the underwriters sell more units than the total number set forth in the table above, we have granted to the underwriters an option,
exercisable for 30  days from the date of this prospectus, to purchase up to 1,500,000 additional units at the public offering
price less the underwriting discounts and commissions. The underwriters may exercise this option solely for the purpose of covering
over-allotments, if any, in connection with this offering. To the extent the option is exercised, each underwriter must purchase
a number of additional units approximately proportionate to that underwriter's initial purchase commitment. Any units issued
or sold under the option will be issued and sold on the same terms and conditions as the other units that are the subject of this
offering.
Prior
to this offering, there has been no public market for our securities. Consequently, the initial public offering price for the
units was determined by negotiations between us and the representative.
The
determination of our per unit offering price was more arbitrary than would typically be the case if we were an operating company.
Among the factors considered in determining the initial public offering price were the history and prospects of companies whose
principal business is the acquisition of other companies, prior offerings of those companies, our management team, our capital
structure, and currently prevailing general conditions in equity securities markets, including current market valuations of publicly
traded companies considered comparable to our company. We cannot assure you, however, that the price at which the units, common
stock or warrants will sell in the public market after this offering will not be lower than the initial public offering price
or that an active trading market in our units, common stock or warrants will develop and continue after this offering.
123
We
expect our units to be listed on Nasdaq under the symbol "                U"
and, once the common stock and warrants begin separate trading, to have our common stock and warrants listed on Nasdaq under the
symbols "                " and "                W,"
respectively.
The
following table shows the underwriting discounts and commissions that we are to pay to the underwriters in connection with this
offering. These amounts are shown assuming both no exercise and full exercise of the underwriters' over-allotment option.
Paid
    by
Bannix
Acquisition Corp.
No
    Exercise
Full
    Exercise
Per
    Unit Underwriting Discounts and Commissions
$
0.20
$
0.20
Total
$
2,000,000
$
2,300,000
Business
Combination Marketing Agreement
Under
a business combination marketing agreement, we will engage I-Bankers as advisors in connection with our business combination
to assist us in holding meetings with our stockholders to discuss the potential business combination and the target business's
attributes, introduce us to potential investors that are interested in purchasing our securities in connection with the potential
business combination, assist us in obtaining stockholder approval for the business combination and assist us with our press releases
and public filings in connection with the business combination. We will pay I-Bankers a cash fee for such marketing
services upon the consummation of our initial business combination in an amount equal to, in the aggregate, 2.75% of the gross
proceeds of this offering, including any proceeds from the full or partial exercise of the underwriters' over-allotment
option.
Representative's
Shares
We
have agreed to issue to I-Bankers  (and/or its designees) 250,000 shares of common stock (or up to 287,500 shares if
the underwriters' over-allotment option is exercised in full) for nominal consideration upon the consummation
of this offering. I-Bankers  (and/or its designees) has agreed not to transfer, assign or sell any such shares until
the completion of our initial business combination. In addition, I-Bankers  (and/or its designees) has agreed (i) to
waive its redemption rights with respect to such shares in connection with the completion of our initial business combination
and (ii) to waive its rights to liquidating distributions from the trust account with respect to such shares if we fail to
complete our initial business combination within 18 months from the closing of this offering.
The
shares have been deemed compensation by FINRA and are therefore subject to a lock-up for a period of 180 days immediately
following the commencement of sales in this offering. Pursuant to FINRA Rule 5110(e)(1), these securities will not be the subject
of any hedging, short sale, derivative, put or call transaction that would result in the economic disposition of the securities
by any person for a period of 180 days immediately following the commencement of sales in this offering, nor may they be sold,
transferred, assigned, pledged or hypothecated for a period of 180 days immediately following the commencement of sales in this
offering, except to any underwriter and selected dealer participating in the offering and their bona fide officers or partners.
Founder Shares
We have agreed to issue to I-Bankers 
(and/or its designees) 245,000 shares of common stock upon the consummation of this offering. I-Bankers  (and/or its
designees) has agreed not to transfer, assign or sell any such shares until the completion of our initial business combination.
In addition, I-Bankers  (and/or its designees) has agreed (i) to waive its redemption rights with respect to such
shares in connection with the completion of our initial business combination and (ii) to waive its rights to liquidating
distributions from the trust account with respect to such shares if we fail to complete our initial business combination within
18 months from the closing of this offering.
The shares have been deemed compensation by FINRA and are therefore subject to a lock-up for
a period of 180 days immediately following the commencement of sales in this offering. Pursuant to FINRA Rule 5110(e)(1), these
securities will not be the subject of any hedging, short sale, derivative, put or call transaction that would result in the economic
disposition of the securities by any person for a period of 180 days immediately following the commencement of sales in this offering,
nor may they be sold, transferred, assigned, pledged or hypothecated for a period of 180 days immediately following the commencement
of sales in this offering, except to any underwriter and selected dealer participating in the offering and their bona fide officers
or partners.
124
Representative's
Warrants
We
have agreed to grant to I-Bankers Securities, Inc. (and/or its designees) 300,000 warrants (or 345,000 warrants if the underwriters'
over-allotment option is exercised in full) exercisable at $12.00 per share (or an aggregate exercise price of $3,600,000 or $4,140,000
if the underwriters' over-allotment option is exercised in full) upon the closing of this offering. The warrant may be exercised
for cash or on a cashless basis, at the holder's option, at any time during the period commencing on the later of the first
anniversary of the effective date of the registration statement of which this prospectus forms a part and the closing of our initial
business combination and terminating on the fifth anniversary of such effectiveness date. Notwithstanding anything to the contrary,
I-Bankers Securities, Inc. has agreed that neither it nor its designees will be permitted to exercise the warrants after the five
year anniversary of the effective date of the registration statement of which this prospectus forms a part. The warrants and such
shares purchased pursuant to the warrants have been deemed compensation by FINRA and are therefore subject to a lock-up for a
period of 180 days immediately following the date of the effectiveness of the registration statement of which this prospectus
forms a part pursuant to FINRA Rule 5110(e)(1). Pursuant to FINRA Rule 5110(e)(1), these securities will not be the subject of
any hedging, short sale, derivative, put or call transaction that would result in the economic disposition of the securities by
any person for a period of 180 days immediately following the effective date of the registration statement of which this prospectus
forms a part, nor may they be sold, transferred, assigned, pledged or hypothecated for a period of 180 days immediately following
the effective date of the registration statement of which this prospectus forms a part except to any underwriter and selected
dealer participating in the offering and their bona fide officers or partners. The warrants grant to holders demand and "piggy
back" rights for periods of five and seven years, respectively, from the effective date of the registration statement of
which this prospectus forms a part with respect to the registration under the Securities Act of the shares issuable upon exercise
of the warrants. We will bear all fees and expenses attendant to registering the securities, other than underwriting commissions,
which will be paid for by the holders themselves. The exercise price and number of shares issuable upon exercise of the warrants
may be adjusted in certain circumstances including in the event of a share dividend, or our recapitalization, reorganization,
merger or consolidation. However, the warrants will not be adjusted for issuances of shares at a price below its exercise price.
We will have no obligation to net cash settle the exercise of the warrants. The holder of the warrants will not be entitled to
exercise the warrants for cash unless a registration statement covering the securities underlying the warrants is effective or
an exemption from registration is available.
In
connection with the offering, the underwriters may purchase and sell units in the open market. Purchases and sales in the open
market may include short sales, purchases to cover short positions, which may include purchases pursuant to the underwriters'
over-allotment option, and stabilizing purchases.
●
Short
                                         sales involve secondary market sales by the underwriters of a greater number of units
                                         than they are required to purchase in the offering.
●
"Covered"
                                         short sales are sales of units in an amount up to the number of units represented by
                                         the underwriters' over-allotment option.
●
"Naked"
                                         short sales are sales of units in an amount in excess of the number of units represented
                                         by the underwriters' over-allotment option.
●
Covering
                                         transactions involve purchases of units either pursuant to the underwriters' over-allotment
                                         option or in the open market after the distribution has been completed in order to cover
                                         short positions.
●
To
                                         close a naked short position, the underwriters must purchase shares in the open market
                                         after the distribution has been completed. A naked short position is more likely to be
                                         created if the underwriters are concerned that there may be downward pressure on the
                                         price of the units in the open market after pricing that could adversely affect investors
                                         who purchase in the offering.
●
To
                                         close a covered short position, the underwriters must purchase units in the open market
                                         after the distribution has been completed or must exercise the underwriters' over-allotment
                                         option. In determining the source of shares to close the covered short position, the
                                         underwriters will consider, among other things, the price of units available for purchase
                                         in the open market as compared to the price at which they may purchase units through
                                         the underwriters' over-allotment option.
●
Stabilizing
                                         transactions involve bids to purchase units so long as the stabilizing bids do not exceed
                                         a specified maximum.
Purchases
to cover short positions and stabilizing purchases, as well as other purchases by the underwriters for their own accounts, may
have the effect of preventing or retarding a decline in the market price of the units. They may also cause the price of the units
to be higher than the price that would otherwise exist in the open market in the absence of these transactions. The underwriters
may conduct these transactions in the over-the-counter market or otherwise. If the underwriters commence any of these
transactions, they may discontinue them at any time.
125
We
estimate that our portion of the total expenses of this offering payable by us will be $___________, excluding underwriting discounts
and commissions. We have agreed to pay certain expenses of the underwriter, including respective road show expenses and legal
costs and expenses reasonably incurred by the underwriter in an amount not to exceed $150,000.
We
have agreed to indemnify the underwriters against certain liabilities, including liabilities under the Securities Act, or to contribute
to payments the underwriters may be required to make because of any of those liabilities.
The
underwriters and their respective affiliates are full-service financial institutions engaged in various activities, which may
include securities trading, commercial and investment banking, financial advisory, investment management, investment research,
principal investment, hedging, financing and brokerage activities. Some of the underwriters and their affiliates may in the future
engage in investment banking and other commercial dealings in the ordinary course of business with us or our affiliates, including
in connection with acting in an advisory capacity or as a potential financing source in conjunction with our potential acquisition
of a company. They may in the future receive customary fees and commissions for these transactions.
In
addition, in the ordinary course of their business activities, the underwriters and their affiliates may make or hold a broad
array of investments and actively trade debt and equity securities (or related derivative securities) and financial instruments
(including bank loans) for their own account and for the accounts of their customers. Such investments and securities activities
may involve securities and/or instruments of ours or our affiliates. The underwriters and their affiliates may also make investment
recommendations and/or publish or express independent research views in respect of such securities or financial instruments and
may hold, or recommend to clients that they acquire, long and/or short positions in such securities and instruments.
With
the exception of the business combination marketing agreement described above, we are not under any contractual obligation to
engage any of the underwriters to provide any services for us after this offering, and have no present intent to do so. However,
any of the underwriters may introduce us to potential target businesses or assist us in raising additional capital in the future.
If any of the underwriters provide services to us after this offering, we may pay such underwriter fair and reasonable fees that
would be determined at that time in an arm's length negotiation; provided that no agreement will be entered into with any
of the underwriters and no fees for such services will be paid to any of the underwriters prior to the date that is 60 days
from the date of this prospectus, unless FINRA determines that such payment would not be deemed underwriters' compensation
in connection with this offering and we may pay the underwriters of this offering or any entity with which they are affiliated
a finder's fee or other compensation for services rendered to us in connection with the completion of a business combination.
Sales
Outside the United States
No
action has been taken in any jurisdiction (except in the United States) that would permit a public offering of the units,
or the possession, circulation or distribution of this prospectus or any other material relating to us or the units in any jurisdiction
where action for that purpose is required. Accordingly, the units may not be offered or sold, directly or indirectly, and none
of this prospectus or any other offering material or advertisements in connection with the units may be distributed or published,
in or from any country or jurisdiction except in compliance with any applicable rules and regulations of any such country or jurisdiction.
Each
of the underwriters may arrange to sell the units offered hereby in certain jurisdictions outside the United States, either
directly or through affiliates, where they are permitted to do so.
Notice
to Prospective Investors in Australia
No
placement document, prospectus, product disclosure statement or other disclosure document has been lodged with the Australian
Securities and Investments Commission ("ASIC"), in relation to the offering. This prospectus does not constitute a
prospectus, product disclosure statement or other disclosure document under the Corporations Act 2001 (the "Corporations
Act"), and does not purport to include the information required for a prospectus, product disclosure statement or other
disclosure document under the Corporations Act.
Any
offer in Australia of the shares may only be made to persons (the "Exempt Investors") who are "sophisticated
investors" (within the meaning of section 708(8) of the Corporations Act), "professional investors" (within
the meaning of section 708(11) of the Corporations Act) or otherwise pursuant to one or more exemptions contained in section 708
of the Corporations Act so that it is lawful to offer the shares without disclosure to investors under Chapter 6D of the Corporations
Act.
126
The
shares applied for by Exempt Investors in Australia must not be offered for sale in Australia in the period of 12 months after
the date of allotment under the offering, except in circumstances where disclosure to investors under Chapter 6D of the Corporations
Act would not be required pursuant to an exemption under section 708 of the Corporations Act or otherwise or where the offer is
pursuant to a disclosure document which complies with Chapter 6D of the Corporations Act. Any person acquiring shares must
observe such Australian on-sale restrictions.
This
prospectus contains general information only and does not take account of the investment objectives, financial situation or particular
needs of any particular person. It does not contain any securities recommendations or financial product advice. Before making
an investment decision, investors need to consider whether the information in this prospectus is appropriate to their needs, objectives
and circumstances, and, if necessary, seek expert advice on those matters.
Notice
to Prospective Investors in the Dubai International Financial Centre
This
prospectus relates to an Exempt Offer in accordance with the Offered Securities Rules of the Dubai Financial Services Authority
("DFSA").This prospectus is intended for distribution only to persons of a type specified in the Offered Securities
Rules of the DFSA. It must not be delivered to, or relied on by, any other person. The DFSA has no responsibility for reviewing
or verifying any documents in connection with Exempt Offers. The DFSA has not approved this prospectus nor taken steps to verify
the information set forth herein and has no responsibility for the prospectus. The shares to which this prospectus relates may
be illiquid and/or subject to restrictions on their resale. Prospective purchasers of the shares offered should conduct their
own due diligence on the shares. If you do not understand the contents of this prospectus you should consult an authorized financial
advisor.
Notice
to Prospective Investors in the European Economic Area
The
units are not intended to be offered or sold to and should not be offered or sold to any retail investor in the European Economic
Area (the "EEA"). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail
client as defined in point (11) of Article 4(1) of Directive 2014/65/EU, as amended ("MiFID II"); or (ii) a
customer within the meaning of Directive 2002/92/EC, as amended (the "Insurance Mediation Directive"), where that
customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii) not
a qualified investor as defined in the Directive 2003/71/EC (as amended, the "Prospectus Directive"). No key information
document required by Regulation (EU) No 1286/2014, as amended (the "PRIIPs Regulation") for offering or selling the
units or otherwise making them available to retail investors in the EEA has been prepared. Offering or selling the units or otherwise
making them available to any retail investor in the EEA may be unlawful under the PRIIPS Regulation. This prospectus has been
prepared on the basis that any offer of the units in any member state of the EEA will be made pursuant to an exemption under the
Prospectus Directive from a requirement to publish a prospectus for offers of units. This prospectus is not a prospectus for the
purpose of the Prospectus Directive.
Notice
to Prospective Investors in Switzerland
The
shares may not be publicly offered in Switzerland and will not be listed on the SIX Swiss Exchange ("SIX") or on any
other stock exchange or regulated trading facility in Switzerland. This document has been prepared without regard to the disclosure
standards for issuance prospectuses under art. 652a or art. 1156 of the Swiss Code of Obligations or the disclosure standards
for listing prospectuses under art. 27 ff. of the SIX Listing Rules or the listing rules of any other stock exchange or regulated
trading facility in Switzerland. Neither this document nor any other offering or marketing material relating to the shares or
the offering may be publicly distributed or otherwise made publicly available in Switzerland.
Neither
this document nor any other offering or marketing material relating to the offering, the Company, the shares have been or will
be filed with or approved by any Swiss regulatory authority. In particular, this document will not be filed with, and the offer
of shares will not be supervised by, the Swiss Financial Market Supervisory Authority FINMA (FINMA), and the offer of shares has
not been and will not be authorized under the Swiss Federal Act on Collective Investment Schemes ("CISA").The investor
protection afforded to acquirers of interests in collective investment schemes under the CISA does not extend to acquirers of
shares.
Notice
to Prospective Investors in the United Kingdom
This
prospectus is only being distributed to, and is only directed at, persons in the United Kingdom that are qualified investors
within the meaning of Article 2(1)(e) of the Prospectus Directive that are also (i) investment professionals falling within
Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or
(ii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a)
to (d) of the Order (all such persons together being referred to as a "relevant person").The units are only available
to, and any invitation, offer or agreement to purchase or otherwise acquire such units will be engaged in only with, relevant
persons. This prospectus and its contents are confidential and should not be distributed, published or reproduced (in whole or
in part) or disclosed by recipients to any other persons in the United Kingdom. Any person in the United Kingdom that
is not a relevant person should not act or rely on this document or any of its contents.
127
Notice
to Prospective Investors in France
Neither
this prospectus nor any other offering material relating to the units described in this prospectus has been submitted to the clearance
procedures of the Autorité des Marchés Financiers or by the competent authority of another member state of the European
Economic Area and notified to the Autorité des Marchés Financiers. The units have not been offered or sold and will
not be offered or sold, directly or indirectly, to the public in France. Neither this prospectus nor any other offering material
relating to the units has been or will be:
●
released,
                                         issued, distributed or caused to be released, issued or distributed to the public in
                                         France; or
●
used
                                         in connection with any offer for subscription or sale of the units to the public in France.
Such
offers, sales and distributions will be made in France only:
●
to
                                         qualified investors (investisseurs qualifiés) and/or to a restricted circle of
                                         investors (cercle restreint d'investisseurs), in each case investing for their
                                         own account, all as defined in, and in accordance with, Articles L.411-2, D.411-1, D.411-2, D.734-1, D.744-1, D.754-1 and D.764-1 of
                                         the French Code monétaire et financier;
●
to
                                         investment services providers authorized to engage in portfolio management on behalf
                                         of third parties; or
●
in
                                         a transaction that, in accordance with Articles L.411-2-II-1b or 2b or 31b
                                         of the French Code monétaire et financier and article 211-2 of the General
                                         Regulations (Règlement Général) of the Autorité des Marchés
                                         Financiers, does not constitute a public offer (appel public à l'épargne).
The
units may be resold directly or indirectly, only in compliance with Articles L.411-1, L.411-2, L.412-1 and L.621-8 through L.621-8-3 of
the French Code monetaire et financier.
Notice
to Prospective Investors in Hong Kong
The
units may not be offered or sold in Hong Kong by means of any document other than (i) in circumstances which do not
constitute an offer to the public within the meaning of the Companies Ordinance (Cap. 32, Laws of Hong Kong), or (ii) to
"professional investors" within the meaning of the Securities and Futures Ordinance (Cap. 571, Laws of Hong Kong)
and any rules made thereunder, or (iii) in other circumstances which do not result in the document being a "prospectus"
within the meaning of the Companies Ordinance (Cap. 32, Laws of Hong Kong) and no advertisement, invitation or document relating
to the units may be issued or may be in the possession of any person for the purpose of issue (in each case whether in Hong Kong
or elsewhere), which is directed at, or the contents of which are likely to be accessed or read by, the public in Hong Kong
(except if permitted to do so under the laws of Hong Kong) other than with respect to units which are or are intended to
be disposed of only to persons outside Hong Kong or only to "professional investors" within the meaning of the
Securities and Futures Ordinance (Cap. 571, Laws of Hong Kong) and any rules made thereunder.
Notice
to Prospective Investors in Japan
The
units have not been and will not be registered under the Financial Instruments and Exchange Law of Japan (Law No. 25 of 1948,
as amended) and, accordingly, will not be offered or sold, directly or indirectly, in Japan, or for the benefit of any Japanese
Person or to others for re-offering or resale, directly or indirectly, in Japan or to any Japanese Person, except in
compliance with all applicable laws, regulations and ministerial guidelines promulgated by relevant Japanese governmental or regulatory
authorities in effect at the relevant time. For the purposes of this paragraph, "Japanese Person" shall mean any person
resident in Japan, including any corporation or other entity organized under the laws of Japan.
128
Notice
to Prospective Investors in Singapore
This
prospectus has not been registered as a prospectus with the Monetary Authority of Singapore. Accordingly, this prospectus and
any other document or material in connection with the offer or sale, or invitation for subscription or purchase, of the units
may not be circulated or distributed, nor may the units be offered or sold, or be made the subject of an invitation for subscription
or purchase, whether directly or indirectly, to persons in Singapore other than (i) to an institutional investor under Section 274
of the Securities and Futures Act, Chapter 289 of Singapore (the "SFA"), (ii) to a relevant person pursuant
to Section 275(1), or any person pursuant to Section 275(1A), and in accordance with the conditions specified in Section 275
of the SFA or (iii) otherwise pursuant to, and in accordance with the conditions of, any other applicable provision of the
SFA, in each case subject to compliance with conditions set forth in the SFA.
Where
the units are subscribed or purchased under Section 275 of the SFA by a relevant person which is:
●
shares,
                                         debentures and units of shares and debentures of that corporation or the beneficiaries'
                                         rights and interest (howsoever described) in that trust shall not be transferred within
                                         six months after that corporation or that trust has acquired the shares pursuant to an
                                         offer made under Section 275 of the SFA except:
●
to
                                         an institutional investor (for corporations, under Section 274 of the SFA) or to
                                         a relevant person defined in Section 275(2) of the SFA, or to any person pursuant
                                         to an offer that is made on terms that such shares, debentures and units of shares and
                                         debentures of that corporation or such rights and interest in that trust are acquired
                                         at a consideration of not less than $200,000 (or its equivalent in a foreign currency)
                                         for each transaction, whether such amount is to be paid for in cash or by exchange of
                                         securities or other assets, and further for corporations, in accordance with the conditions
                                         specified in Section 275 of the SFA;
●
where
                                         no consideration is or will be given for the transfer; or
●
where
                                         the transfer is by operation of law.
Notice
to Canadian Residents
Resale
Restrictions
The
distribution of units in Canada is being made only in the provinces of Ontario, Quebec, Alberta and British Columbia on a private
placement basis exempt from the requirement that we prepare and file a prospectus with the securities regulatory authorities in
each province where trades of these securities are made. Any resale of the units in Canada must be made under applicable securities
laws which may vary depending on the relevant jurisdiction, and which may require resales to be made under available statutory
exemptions or under a discretionary exemption granted by the applicable Canadian securities regulatory authority. Purchasers are
advised to seek legal advice prior to any resale of the securities.
Representations
of Canadian Purchasers
By
purchasing units in Canada and accepting delivery of a purchase confirmation, a purchaser is representing to us and the dealer
from whom the purchase confirmation is received that:
●
the
                                         purchaser is entitled under applicable provincial securities laws to purchase the units
                                         without the benefit of a prospectus qualified under those securities laws as it is an
                                         "accredited investor" as defined under National Instrument 45-106 — Prospectus
                                         Exemptions,
●
the
                                         purchaser is a "permitted client" as defined in National Instrument 31-103 — Registration
                                         Requirements, Exemptions and Ongoing Registrant Obligations,
●
where
                                         required by law, the purchaser is purchasing as principal and not as agent, and
●
the
                                         purchaser has reviewed the text above under Resale Restrictions.
129
Conflicts
of Interest
Canadian
purchasers are hereby notified that the underwriters are relying on the exemption set out in section 3A.3 or 3A.4, if applicable,
of National Instrument 33-105 — Underwriting Conflicts from having to provide certain conflict of interest
disclosure in this document.
Statutory
Rights of Action
Securities
legislation in certain provinces or territories of Canada may provide a purchaser with remedies for rescission or damages if the
prospectus (including any amendment thereto) such as this document contains a misrepresentation, provided that the remedies for
rescission or damages are exercised by the purchaser within the time limit prescribed by the securities legislation of the purchaser's
province or territory. The purchaser of these securities in Canada should refer to any applicable provisions of the securities
legislation of the purchaser's province or territory for particulars of these rights or consult with a legal advisor.
Enforcement
of Legal Rights
All
of our directors and officers as well as the experts named herein may be located outside of Canada and, as a result, it may not
be possible for Canadian purchasers to effect service of process within Canada upon us or those persons. All or a substantial
portion of our assets and the assets of those persons may be located outside of Canada and, as a result, it may not be possible
to satisfy a judgment against us or those persons in Canada or to enforce a judgment obtained in Canadian courts against us or
those persons outside of Canada.
Taxation
and Eligibility for Investment
Canadian
purchasers of units should consult their own legal and tax advisors with respect to the tax consequences of an investment in the
units in their particular circumstances and about the eligibility of the units for investment by the purchaser under relevant
Canadian legislation.
LEGAL
MATTERS
Loeb
& Loeb LLP, New York, New York, has passed upon the validity of the securities offered hereby on behalf of us. Certain legal
matters will be passed upon on behalf of the underwriters by Shearman & Sterling LLP Houston, Texas.
EXPERTS
The
financial statements of Bannix Acquisition Corp. as of February 9, 2021 and for the period January 21, 2021 (inception) through
February 9, 2021, appearing in this prospectus have been audited by Rotenberg Meril Solomon Bertiger & Guttilla, P.C., independent
registered public accounting firm, as set forth in their report thereon (which contains an explanatory paragraph relating to substantial
doubt about the ability of Bannix Acquisition Corp. to continue as a going concern, as described in Note 1 to the financial statements),
appearing elsewhere in this prospectus, and are included in reliance upon such report given on the authority of such firm as experts
in accounting and auditing.
WHERE
YOU CAN FIND ADDITIONAL INFORMATION
We
have filed with the SEC a registration statement on Form S-1 under the Securities Act with respect to the securities
we are offering by this prospectus. This prospectus does not contain all of the information included in the registration statement.
For further information about us and our securities, you should refer to the registration statement and the exhibits and schedules
filed with the registration statement. Whenever we make reference in this prospectus to any of our contracts, agreements or other
documents, the references are materially complete but may not include a description of all aspects of such contracts, agreements
or other documents, and you should refer to the exhibits attached to the registration statement for copies of the actual contract,
agreement or other document.
Upon
completion of this offering, we will be subject to the information requirements of the Exchange Act and will file annual, quarterly
and current event reports, proxy statements and other information with the SEC. You can read our SEC filings, including the registration
statement, over the Internet at the SEC's website at
www.sec.gov
.
130
BANNIX
ACQUISITION CORP.
INDEX TO FINANCIAL STATEMENTS
Page
Report
    of Independent Registered Public Accounting Firm
F-2
Financial
    Statements:
Balance
    Sheet as of February 9, 2021
F-3
Statement
    of Operations for the period from January 21, 2021 (inception) through February 9, 2021
F-4
Statement
    of Changes in Stockholders' Equity for the period from January 21, 2021 (inception) through February 9, 2021
F-5
Statement
    of Cash Flows for the period from January 21, 2021 (inception) through February 9, 2021
F-6
Notes
    to Financial Statements
F-7
F-
1
Independent
Auditors' Report
REPORT OF INDEPENDENT REGISTERED
PUBLIC ACCOUNTING FIRM
To the Stockholders and the Board of Directors of
Bannix Acquisition Corp.
Opinion on the Financial Statements
We have audited the accompanying
balance sheet of Bannix Acquisition Corp. (the "Company") as of February 9, 2021, and the related statements of operations,
stockholders' equity, and cash flows for the period January 21, 2021 (Date of Inception) through February 9, 2021,
and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements
present fairly, in all material respects, the financial position of the Company as of February 9, 2021 and the results of its
operations and its cash flows for the period from January 21, 2021 (Date of Inception) through February 9, 2021, in conformity
with accounting principles generally accepted in the United States of America.
Explanatory Paragraph -- Going
Concern
The accompanying financial statements
have been prepared assuming that the Company will continue as a going concern. As discussed in Note 1 to the financial statements,
the Company's ability to execute its business plan is dependent upon its completion of the proposed initial public offering described
in Note 3 to the financial statements. The Company had a working capital deficit as of February 9, 2021 and lacks the financial
resources it needs to sustain operations for a reasonable period of time, which is considered to be one year from the issuance
date of the financial statements. These conditions raise substantial doubt about the Company's ability to continue as a going concern.
Management's plans with regard to these matters are also described in Notes 1 and 3. The financial statements do not include any
adjustments that might become necessary should the Company be unable to continue as a going concern.
Basis for Opinion
These financial statements are the
responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based
on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB")
and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable
rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audit in accordance
with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required
to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit we are
required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion
on the effectiveness of the entity's internal control over financial reporting. Accordingly, we express no such opinion.
Our audit included performing procedures
to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures
that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures
in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made
by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides
a reasonable basis for our opinion.
/s/ Rotenberg Meril Solomon Bertiger & Guttilla,
P.C.
Rotenberg Meril Solomon Bertiger & Guttilla, P.C.
We have served as the Company's auditor since 2021.
Saddle Brook, New Jersey
February 15, 2021
F-
2
Balance
Sheet
As
                                         of February 09, 2021
ASSETS
Cash
$
19,665
Deferred
    offering costs associated with proposed public offering
44,243
Share
    subscription receivable
12,000
TOTAL
    ASSETS
$
75,908
LIABILITIES
    AND STOCKHOLDERS' EQUITY
Liabilities
Current
    Liabilities
Accounts
    payable (related party of $35)
$
19,278
Loans
    payable – related parties
27,963
Total Current
    Liabilities
47,241
Commitments
Stockholders'
    Equity
Common
    stock, par value $0.01; authorized 10,000,000 shares; issued and outstanding 2,875,000 shares
(1)
28,750
Accumulated
    deficit
(83
)
Total
    Stockholders' Equity
28,667
TOTAL
    LIABILITIES AND STOCKHOLDERS' EQUITY
$
75,908
(1)
At February 09, 2021, includes
    up to 375,000 ordinary shares subject to forfeiture if the over-allotment option is not exercised in full or in part
    by the underwriters. (See Note 6).
The
accompanying notes are an integral part to these financial statements.
F-
3
Statement
of Operations
For
the period from January 21, 2021 (inception) to February 09, 2021
EXPENSES
General
    and administrative expenses
$
83
NET
    LOSS
$
(83
)
Weighted
    average shares outstanding, basic and diluted
(1)
1,043,815
Basic
    and diluted net loss per common share
$
(0.00
)
(1)
At February 09, 2021, includes up to 375,000
    ordinary shares subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriters.
    (See Note 6)
The
accompanying notes are an integral part to these financial statements.
F-
4
Statement
of Changes in Stockholders' Equity
For
                                         the period from January 21, 2021 (inception) to February 09, 2021
Common
    Stock
Accumulated
    Deficit
Stockholders'
    Equity
Shares
Amount
Balance
    - January 21, 2021 (inception)
—
$
—
$
—
$
—
Issuance
    of common stock to Sponsors
(1)
2,875,000
28,750
28,750
Net
    loss
(83
)
(83
)
Balance
    – February 09, 2021
2,875,000
$
28,750
$
(83
)
$
28,667
(1)
At February 09, 2021, includes up to 375,000
    ordinary shares subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriters.
    (See Note 6)
The
accompanying notes are an integral part to these financial statements.
F-
5
Statement
of Cash Flows
For
the period from January 21, 2021 (inception) to February 09, 2021
Cash Flows from Operating Activities:
Net
    Loss
$
(83
)
Changes
    in operating assets and liabilities:
Accounts
    payable
35
Net
    used in operating activities
$
(48
)
Cash
    Flows from Financing Activities:
Proceeds
    from sale of common stock to Sponsors
16,750
Loans
    from related parties
2,963
Net
    cash provided by financing activities
$
19,713
Net
    change in cash
$
19,665
Cash
    – beginning of the period
—
Cash
    – end of the period
$
19,665
Supplemental
    disclosure of noncash financing activities:
Deferred
    offering costs included in accounts payable
$
19,243
Deferred
    offering costs paid by Sponsor
$
25,000
Share
    subscription receivable
$
12,000
The
accompanying notes are an integral part to these financial statements.
F-
6
Bannix
Acquisition Corp.
Notes
to Financial Statements
February
09, 2021
Note
1 — Organization and Business Operations
Organization
and General
Bannix
Acquisition Corp. (the "Company") is a newly organized blank check company incorporated in the state of Delaware on
January 21, 2021. The Company was formed for the purpose of effecting mergers, capital stock exchange, asset acquisitions, stock
purchases, reorganization or similar business combinations with one or more businesses ("Business Combination"). The
Company has not selected any specific Business Combination target and the Company has not, nor has anyone on its behalf, initiated
any substantive discussions, directly or indirectly, with any Business Combination target with respect to the Business Combination.
The
Company has selected December 31 as its fiscal year end.
As
of February 09, 2021, the Company had not commenced any operations. All activities for the period from January 21, 2021 (inception)
through February 09, 2021 relate to the Company's formation and the initial Proposed Public Offering (the "Proposed
Public Offering") described below. The Company will not generate any operating revenue until after the completion of its
initial Business Combination, at the earliest. The Company will generate non-operating income in the form of interest income
on cash and cash equivalents from the proceeds derived from the Proposed Public Offering.
Sponsors
and Proposed Financing
The
Company's sponsors are Subash Menon and Sudeesh Yezhuvath (through their investment entity Bannix Management LLP) and Suresh
Yezhuvath (the "Sponsors"). The Company's ability to commence operations is contingent upon obtaining adequate
financial resources through a Proposed Public Offering of 10,000,000 units at $10.00 per unit (the "Units") (or 11,500,000
units if the underwriters' over-allotment option is exercised in full), which is discussed in Note 3. Each Unit consists
of one ordinary share (the "Public Share") and, one-half redeemable warrant to purchase one ordinary share at
a price of $11.50 per whole share. The Company's management has broad discretion with respect to the specific application
of the net proceeds of the Proposed Public Offering and the warrants issued to the Sponsors (the "Private Warrants"),
although substantially all of the net proceeds are intended to be generally applied toward consummating a Business Combination
(less deferred underwriting commissions).
Trust
Account
Upon
the closing of the Proposed Public Offering, management has agreed that an aggregate of $10.00 per Unit sold in the Proposed Public
Offering will be held in a trust account ("Trust Account") and invested in U.S. government securities, within the
meaning set forth in Section 2(a)(16) of the Investment Company Act, with a maturity of 180 days or less or in any open-ended investment
company that holds itself out as a money market fund meeting the conditions of Rule 2a-7 of the Investment Company Act,
as determined by the Company. Except with respect to interest earned on the funds held in the Trust Account that may be released
to the Company to pay its franchise and income tax obligations (less up to $100,000 of interest to pay dissolution expenses),
the proceeds from this offering and the sale of the Private Warrants will not be released from the Trust Account until the earliest
of (a) the completion of the Company's initial Business Combination, (b) the redemption of any Public Shares properly
submitted in connection with a stockholder vote to amend the Company's amended and restated certificate of incorporation,
and (c) the redemption of the Company's Public Shares if the Company is unable to complete the initial Business Combination
within 18 months from the closing of this offering, or within any period of extension, subject to applicable law. The proceeds
deposited in the Trust Account could become subject to the claims of the Company's creditors, if any, which could have priority
over the claims of the Company's public stockholders.
F-
7
Initial
Business Combination
We
will have until 18 months from the closing of this offering to consummate our initial Business Combination. However, if we
anticipate that we may not be able to consummate our initial Business Combination within 18 months, we may, by resolution
of our board if requested by our initial stockholders, extend the period of time to consummate a Business Combination up to two
times, each by an additional three months (for a total of up to 24 months to complete a Business Combination), subject to
the sponsors depositing additional funds into the Trust Account as set out below. Pursuant to the terms of our bylaws and the
trust agreement to be entered into between us and Continental Stock Transfer & Trust Company on the date of this prospectus,
in order to extend the time available for us to consummate our initial Business Combination, our initial stockholders or their
affiliates or designees, upon five days advance notice prior to the applicable deadline, must deposit into the Trust Account for
each three-month extension, $1,000,000, or $1,150,000 if the underwriters' over-allotment option is exercised
in full ($0.10 per share in either case) on or prior to the date of the applicable deadline, up to an aggregate of $2,000,000
(or $2,300,000 if the underwriters' over-allotment option is exercised in full), or approximately $0.20 per share.
In the event that we receive notice from our Sponsors five days prior to the applicable deadline of its wish for us to effect
an extension, we intend to issue a press release announcing such intention at least three days prior to the applicable deadline.
In addition, we intend to issue a press release the day after the applicable deadline announcing whether or not the funds had
been timely deposited. Our Sponsors and its affiliates or designees are not obligated to fund the Trust Account to extend the
time for us to complete our initial Business Combination. If we are unable to consummate our initial Business Combination within
the applicable time period, we will, promptly but not more than ten business days thereafter, redeem the Public Shares for a pro
rata portion of the funds held in the Trust Account and promptly 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. In such event, the rights and warrants will be worthless.
Additionally, pursuant to Nasdaq rules, any initial Business Combination must be approved by a majority of our independent directors.
We
anticipate structuring our initial Business Combination so that the post-transaction company in which our public stockholders
own shares will own or acquire substantially all of the equity interests or assets of the target business or businesses. We may,
however, structure our initial Business Combination such that the post-transaction company owns or acquires less than substantially
all of such interests or assets of the target business in order to meet certain objectives of the target management team or stockholders
or for other reasons, but we will only complete such Business Combination if the post-transaction company owns or acquires
50% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient
for it not to be required to register as an investment company under the Investment Company Act of 1940, as amended (the "Investment
Company Act"). Even if the post-transaction company owns or acquires 50% or more of the voting securities of the target,
our stockholders prior to the initial Business Combination may collectively own a minority interest in the post-transaction company,
depending on valuations ascribed to the target and us in the Business Combination transaction. For example, we could pursue a
transaction in which we issue a substantial number of new shares in exchange for all of the outstanding capital stock of shares
or other equity interests. In this case, we would acquire a 100% controlling interest in the target. However, as a result of the
issuance of a substantial number of new shares, our stockholders immediately prior to our initial Business Combination could own
less than a majority of our outstanding shares subsequent to our initial Business Combination. If less than 100% of the equity
interests or assets of a target business or businesses are owned or acquired by the post-transaction company, the portion
of such business or businesses that is owned or acquired is what will be valued for purposes of the 80% of net assets test. If
the initial Business Combination involves more than one target business, the 80% of net assets test will be based on the aggregate
value of all of the target businesses even if the acquisitions of the target businesses are not closed simultaneously.
Although
we believe that the net proceeds of this offering will be sufficient to allow us to consummate a Business Combination, because
we have not yet identified any prospective target business, we cannot ascertain the capital requirements for any particular transaction.
If the net proceeds of this offering prove to be insufficient, either because of the size of the Business Combination, the depletion
of the available net proceeds in search of a target business, or because we become obligated to redeem a significant number of
our Public Shares upon consummation of our initial Business Combination, we will be required to seek additional financing, in
which case we may issue additional securities or incur debt in connection with such Business Combination. Furthermore, we may
issue a substantial number of additional ordinary or preferred shares to complete our initial Business Combination or under an
employee incentive plan upon or after consummation of our initial Business Combination. We do not have a maximum debt leverage
ratio or a policy with respect to how much debt we may incur. The amount of debt we will be willing to incur will depend on the
facts and circumstances of the proposed Business Combination and market conditions at the time of the potential Business Combination.
At this time, we are not party to any arrangement or understanding with any third party with respect to raising additional funds
through the sale of our securities or the incurrence of debt. Subject to compliance with applicable securities laws, we would
only consummate such financing simultaneously with the consummation of our initial Business Combination.
Nasdaq
rules require that our initial Business Combination must occur with one or more target businesses that together have an aggregate
fair market value of at least 80% of the assets held in the Trust Account (excluding advisory fees and taxes payable on the income
earned on the Trust Account) at the time of the agreement to enter into the initial Business Combination. If our board is not
able to independently determine the fair market value of the target business or businesses, we will obtain an opinion from an
independent investment banking firm or an independent accounting firm with respect to the satisfaction of such criteria. We do
not intend to purchase multiple businesses in unrelated industries in connection with our initial Business Combination.
F-
8
The
Company will provide its public stockholders with the opportunity to redeem all or a portion of their Public Shares upon the completion
of the initial Business Combination either (i) in connection with a stockholder meeting called to approve the initial Business
Combination or (ii) by means of a tender offer. The decision as to whether the Company will seek stockholder approval of
a proposed initial Business Combination or conduct a tender offer will be made by the Company, solely at its discretion. The stockholders
will be entitled to redeem their shares for a pro rata portion of the amount then on deposit in the Trust Account (initially approximately
$10.00 per share, plus any pro rata interest earned on the funds held in the Trust Account and not previously released to the
Company to pay its tax obligations).
The
ordinary shares subject to redemption will be recorded at a redemption value and classified as temporary equity upon the completion
of the Proposed Public Offering, in accordance with Accounting Standards Codification ("ASC") Topic 480 "Distinguishing
Liabilities from Equity." In such case, the Company will proceed with a Business Combination if the Company has net tangible
assets of at least $5,000,001 upon such consummation of a Business Combination and, if the Company seeks stockholder approval,
a majority of the issued and outstanding shares voted are voted in favor of the Business Combination.
The
Sponsors, officers and directors and Representative (as defined in Note 5) have agreed to (i) waive their redemption rights
with respect to their Founder Shares (as defined in Note 6) and Public Shares in connection with the completion of the initial
Business Combination, (ii) waive their redemption rights with respect to their Founder Shares and Public Shares in connection
with a stockholder vote to approve an amendment to the Company's amended and restated certificate of incorporation, and
(iii) waive their rights to liquidating distributions from the Trust Account with respect to their Founder Shares if the
Company fails to complete the initial Business Combination within the 18 month period post the Proposed Public Offering plus the
two extension periods of 3 months each (the "Combination Period").
The
Company's Sponsors have agreed that they will be liable to the Company if and to the extent any claims by a third party
for services rendered or products sold to the Company, or a prospective target business with which the Company has entered into
a written letter of intent, confidentiality or similar agreement or Business Combination agreement, reduce the amount of funds
in the Trust Account to below the lesser of (i) $10.00 per Public Share and (ii) the actual amount per Public Share held
in the Trust Account as of the date of the liquidation of the Trust Account, if less than $10.00 per share due to reductions in
the value of the trust assets, 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 indemnity of the underwriters of this
offering against certain liabilities, including liabilities under the Securities Act. However, the Company has not asked its Sponsors
to reserve for such indemnification obligations, nor has the Company independently verified whether its Sponsors have sufficient
funds to satisfy its indemnity obligations and believe that the Company's Sponsors' only assets are securities of
the Company. Therefore, the Company cannot assure that its Sponsors would be able to satisfy those obligations.
Going Concern
Consideration
As
of February 09, 2021, the Company had $19,665 in cash and a working capital deficit of $15,576 (excluding deferred offering costs). The Company has incurred and expects to continue to incur significant costs in pursuit of its financing
and acquisition plans. These conditions raise substantial doubt about the Company's ability to continue as a going concern
one year from the issuance date of the financial statements. Management plans to address this uncertainty through a Proposed Public
Offering as discussed in Note 3 and issuance of an unsecured promissory note to with principal up to $300,000 to the Sponsors
as discussed in Note 4. There is no assurance that the Company's plans to raise capital or to consummate a Business Combination
will be successful within the Combination Period. The financial statements do not include any adjustments that might result from
the outcome of this uncertainty.
Note 2 —
Significant Accounting Policies
Basis of
Presentation
The
accompanying financial statements of the Company are presented in U.S. dollars in conformity with accounting principles generally
accepted in the United States of America ("GAAP") and pursuant to the rules and regulations of the U.S. Securities
and Exchange Commission ("SEC").
Emerging
Growth Company Status
The
Company is an "emerging growth company," as defined in Section 2(a) of the Securities Act of 1933, as amended,
(the "Securities Act"), as modified by the Jumpstart our Business Startups Act of 2012, (the "JOBS Act"),
and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies
that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation
requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation
in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive
compensation and stockholder approval of any golden parachute payments not previously approved.
F-
9
Further,
Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial
accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared
effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised
financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and
comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable.
The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised
and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt
the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company's
financial statements with another public company which is neither an emerging growth company nor an emerging growth company which
has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting
standards used.
Use of
Estimates
The
preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect
the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial
statements and the reported amounts of expenses and revenues during the reporting period. Actual results could differ
from those estimates.
Cash and
Cash Equivalents
The
Company considers all short-term investments with an original maturity of three months or less when purchased to be cash
equivalents. The Company did not have any cash equivalents as of February 09, 2021.
Deferred
Offering Costs
Deferred
offering costs consist of legal and accounting expenses incurred through the balance sheet date that are directly related to the
Proposed Public Offering and that will be charged to stockholders' equity upon the completion of the Proposed Public Offering.
Should the Proposed Public Offering prove to be unsuccessful, these deferred costs, as well as additional expenses to be incurred,
will be charged to operations.
Fair Value
of Financial Instruments
The
fair value of the Company's cash, receivables and liabilities approximates the carrying amounts represented in the
accompanying balance sheet, due to their short-term nature.
Net Loss
Per Share
Net
loss per share is computed by dividing net loss by the weighted average number of shares outstanding during the period, excluding
shares subject to forfeiture. At February 09, 2021, the Company did not have any dilutive securities and other contracts that
could, potentially, be exercised or converted into shares and then share in the earnings of the Company. As a result, diluted
loss per share is the same as basic loss per share for the period presented.
Income
Taxes
The
Company accounts for income taxes under ASC 740 Income Taxes ("ASC 740"). ASC 740 requires the recognition of deferred
tax assets and liabilities for both the expected impact of differences between the financial statement and tax basis of assets
and liabilities and for the expected future tax benefit to be derived from tax loss and tax credit carry forwards. ASC 740 additionally
requires a valuation allowance to be established when it is more likely than not that all or a portion of deferred tax assets
will not be realized.
ASC
740 also clarifies the accounting for uncertainty in income taxes recognized in an enterprise's financial statements and
prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position
taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to
be sustained upon examination by taxing authorities. ASC 740 also provides guidance on derecognition, classification, interest
and penalties, accounting in interim period, disclosure and transition.
The
Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized
tax benefits and no amounts accrued for interest and penalties as of February 09, 2021. The Company is currently not aware
of any issues under review that could result in significant payments, accruals or material deviation from its position.
The
provision for income taxes was deemed to be immaterial for the period from January 21, 2021 (inception) through February 09,
2021.
F-
10
Concentration
of Credit Risk
Financial
instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution,
which, at times, may exceed the federal depository insurance coverage of $250,000. The Company has not experienced losses on these
accounts and management believes the Company is not exposed to significant risks on such accounts.
Recent
Accounting Pronouncements
Management
does not believe that any recently issued, but not effective, accounting standards, if currently adopted, would have a material
effect on the Company's financial statements.
Note 3 —
Proposed Public Offering
In
the Proposed Public Offering, the Company will offer for sale up to 10,000,000 Units, (or 11,500,000 Units if the underwriters'
over-allotment option is exercised in full) at a purchase price of $10.00 per Unit. Each Unit that the Company is offering
has a price of $10.00 and consists of one ordinary share and one-half warrant to purchase one ordinary share. Each warrant
will entitle the holder to purchase one ordinary share at a price of $11.50 per share, subject to adjustment. Each warrant will
become exercisable on the later of the completion of the initial Business Combination or 12 months from the closing of this
offering and will expire five years after the completion of the initial Business Combination, or earlier upon redemption or liquidation
(see Note 6). The ordinary shares and warrants comprising the Units will begin separate trading on the 52
nd
day
following the date of this prospectus unless our underwriters, I-Bankers Securities, Inc., inform us of their decision to
allow earlier separate trading, subject to our having filed the Current Report on Form 8-K described above, and having issued
a press release announcing when such separate trading will begin. At the time that the ordinary shares and warrants comprising
the Units begin separate trading, holders will hold the separate securities and no longer hold units (without any action needing
to be taken by the holders), and the units will no longer trade.
Note 4 —
Related Party Transactions
Promissory
Note — Related Party
The
Company shall issue an unsecured promissory note to the Sponsors, as and when required, pursuant to which the Company may borrow
up to an aggregate principal amount of $300,000 to be used for a portion of the expenses of this offering. This note is non-interest bearing,
unsecured and due at the earlier of June 30, 2021 or the successful closing of this offering. The loan will be repaid upon
the closing of this offering out of the estimated $1,500,000 of offering proceeds that has been allocated to the payment of offering
expenses (other than underwriting commissions). In the event of this offering not materializing, the note will not be repayable.
No promissory notes were outstanding as of February 09, 2021. As of February 15, 2021, the Company has withdrawn $19,965 under
the terms of the promissory note.
Loans –
Related Parties
In
order to finance transaction costs in connection with a Business Combination, the Sponsors or an affiliate of the Sponsors or
certain of the Company's officers and directors may, but are not obligated to, loan the Company funds as may be required.
If the Company completes a Business Combination, the Company would repay the loans out of the proceeds of the Trust Account released
to the Company. Otherwise, the loans would be repaid only out of funds held outside the Trust Account. In the event that a Business
Combination does not close, the Company may use a portion of the working capital held outside the Trust Account to repay the loans
but no proceeds from the Trust Account would be used to repay the loans. These loans are non-interest bearing and are due for
repayment within 6 months of January 29, 2021 in cash or issuance of share and/or warrants of equivalent value. At February 09,
2021, loans outstanding were $27,963. An additional $35 was included in Accounts Payable on the Balance Sheet for expenses paid
by one of the Sponsors on behalf of the Company.
Rent –
Related Party
The
Company's principal executive offices are located in Woodcliff Lake, New Jersey. The headquarters is located in the offices
of a business associate of the Company. The Company is not paying rent for this space at this time.
F-
11
Note 5 —
Commitments and Contingencies
Registration
Rights
The
holders of the Founder Shares, private placement warrants, and warrants that may be issued upon conversion of related party loans
will have registration rights to require the Company to register a sale of any of its securities held by them pursuant to a registration
rights agreement to be signed prior to or on the effective date of this offering. These holders will be entitled to make up to
three demands, excluding short form registration demands, that the Company registers such securities for sale under the Securities
Act. In addition, these holders will have "piggy-back" registration rights to include their securities in other registration
statements filed by the Company.
Underwriters'
Agreement
The
underwriters have a 30-day option from the date of Proposed Public Offering to purchase up to an additional 1,500,000 units
to cover over-allotments, if any.
The
underwriters will be entitled to a cash underwriting discount of 2% of the gross proceeds of the Proposed Public Offering,
or $2,000,000 (of which $1,000,000 will be used by I-Bankers to acquire 1,000,000 private placement warrants that will be issued
to our sponsors in lieu of I-Bankers), and a deferred underwriting discount of $300,000 in the aggregate if the underwriters'
over-allotment option is exercised in full which will be payable to the underwriters from the amounts held in the Trust Account
solely in the event that the Company completes a Business Combination, subject to the terms of the underwriting agreement. Additionally,
the underwriters will be entitled to a Business Combination marketing fee of 2.75% of the gross proceeds of the Proposed Public
Offering held in the Trust Account upon the completion of the Company's initial Business Combination subject to the terms
of the underwriting agreement.
The
Company expects to issue the underwriter (and/or its designees) (the "Representative") 250,000 (or 287,500
if the underwriters' over-allotment is exercised in full) of ordinary shares for $0.01 per share (the "Representative
Shares") upon the consummation of the Proposed Public Offering. The Company intends to account for the Representative Shares
as an expense of the Proposed Public Offering resulting in a charge directly to stockholders' equity. In addition, the Company
expects the Representative to agree (i) to waive its redemption rights with respect to such shares in connection with the
completion of the initial Business Combination and (ii) to waive its rights to liquidating distributions from the Trust Account
with respect to such shares if the Company fails to complete its initial Business Combination within the Combination Period.
In
addition, the Company has agreed to issue to the Representative a warrant to purchase up to 300,000 ordinary shares (or 345,000 shares
if the underwriters' over-allotment option is exercised in full) at $12.00 per share (the "Representative Warrants").
Such warrants will not be redeemable for as long as they are held by the Representative and they may not be exercised after five
years from the effective date of the registration statement of which the Proposed Public Offering forms a part. Except as described
above, the warrants are identical to those underlying the units offered by in the Proposed Public Offering.
Risks and
Uncertainties
Management
is currently evaluating the impact of the COVID-19 pandemic on the industry and has concluded that while it is reasonably
possible that the virus could have a negative effect on the Company's financial position, results of its operations, close
of the Proposed Public Offering, and/or search for a target company, the specific impact is not readily determinable as of the
date of these financial statements. The financial statements do not include any adjustments that might result from the outcome
of this uncertainty.
Note 6 —
Stockholder's Equity
Ordinary
shares
The
Company is authorized to issue a total of 10,000,000 ordinary shares with par value of $0.01 each. At February 09, 2021, a total
of 2,875,000 ordinary shares were issued.
Each
share of ordinary shares entitles the holder to one vote.
F-
12
Founder
Shares
In
February 2021, the Sponsors subscribed 2,875,000 shares of the Company's ordinary shares (the "Founder Shares")
for $28,750, or $0.01 per share, in connection with formation. As of February 09, 2021, the Company had received $16,750 and reflected
the balance of $12,000 as share subscription receivable. The balance was received on February 12, 2021. Out of the Founder Shares,
up to 375,000 ordinary shares are subject to forfeiture if the over-allotment option is not exercised in full or in part
by the underwriters.
The
Sponsors have agreed not to transfer, assign or sell
the Founder Shares until the earlier
to
occur of: (A) one year after the completion of our initial Business Combination or (B) the date on which we complete a liquidation,
merger, stock exchange or other similar transaction after our initial Business Combination that results in all of our public stockholders
having the right to exchange their shares of common stock for cash, securities or other property. We refer to such transfer restrictions
as the "lock-up". Notwithstanding the foregoing, if the last sale price of our 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, the Founder Shares
will be released from the lock-up.
Warrants
No
warrants are currently outstanding. Each whole warrant entitles the holder to purchase one share of the Company's ordinary
shares at a price of $11.50 per share, subject to adjustment as discussed herein. In addition, if (x) the Company issues
additional ordinary shares or equity-linked securities for capital raising purposes in connection with the closing of its
initial Business Combination at an issue price or effective issue price of less than $9.20 per share of ordinary shares (with
such issue price or effective issue price to be determined in good faith by the Company's board of directors and, in the
case of any such issuance to the Company's Sponsors or its affiliates, without taking into account any Founder Shares held
by the Company's Sponsors or its affiliates, prior to such issuance) (the "Newly Issued Price"), (y) the
aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available
for the funding of the initial Business Combination on the date of the consummation of the initial Business Combination (net of
redemptions), and (z) the volume weighted average trading price of the Company's ordinary shares during the 20 trading
day period starting on the trading day prior to the day on which the Company consummates the initial Business Combination (such
price, the "Market Value") is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest
cent) to be equal to 115% of the Market Value, and the $18.00 per share redemption trigger price described below under "Redemption
of warrants" will be adjusted (to the nearest cent) to be equal to 180% of the Market Value.
The
warrants will become exercisable on the later of 12 months from the closing of this offering or upon completion of its initial
Business Combination and will expire five years after the completion of the Company's initial Business Combination, at 5:00
p.m., Eastern Time, or earlier upon redemption or liquidation.
The
Company will not be obligated to deliver any ordinary shares pursuant to the exercise of a warrant and will have no obligation
to settle such warrant exercise unless a registration statement under the Securities Act with respect to the ordinary shares underlying
the warrants is then effective and a prospectus is current. No warrant will be exercisable, and the Company will not be obligated
to issue ordinary shares upon exercise of a warrant unless ordinary shares 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 no event will the Company 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 ordinary shares underlying such unit.
F-
13
Redemption
of warrants
The
Company may call the warrants for redemption (excluding the private warrants, and any outstanding Representative's Warrants,
and any warrants underlying units issued to the Sponsors, initial stockholders, officers, directors or their affiliates in payment
of related party loans made to the Company), in whole and not in part, at a price of $0.01 per warrant:
•
at
                                         any time while the warrants are exercisable,
•
upon
                                         not less than 30 days prior written notice of redemption to each warrant holder,
•
if,
                                         and only if, the reported last sale price of the ordinary shares equals or exceeds $18.00
                                         per share (as adjusted for stock splits, stock dividends, reorganizations and recapitalizations),
                                         for any 20 trading days within a 30 trading day period ending on the third trading business
                                         day prior to the notice of redemption to warrant holders, and
•
if,
                                         and only if, there is a current registration statement in effect with respect to the
                                         issuance of the ordinary shares underlying such warrants at the time of redemption and
                                         for the entire 30-day trading period referred to above and continuing each day until
                                         the date of redemption.
If
the Company calls the warrants for redemption as described above, the management will have the option to require any holder that
wishes to exercise its warrant to do so on a "cashless basis." If the management takes advantage of this option, all
holders of warrants would pay the exercise price by surrendering their warrants for that number of shares of ordinary shares equal
to the quotient obtained by dividing (x) the product of the number of shares of ordinary shares underlying the warrants,
multiplied by the excess of the "fair market value" (defined below) over the exercise price of the warrants by (y) the
fair market value. The "fair market value" shall mean the average reported last sale price of the ordinary shares
for the 10 trading days ending on the third trading day prior to the date on which the notice of redemption is sent to the holders
of warrants.
If
the Company is unable to complete an initial Business Combination within the Combination Period and the Company liquidates the
funds held in the Trust Account, holders of warrants will not receive any of such funds with respect to their warrants, nor will
they receive any distribution from the Company's assets held outside of the Trust Account with respect to such warrants.
Accordingly, the warrants may expire worthless.
Note 7 —
Subsequent Events
The
Company evaluated subsequent events and transactions through the date of the filing. Based upon this review, other than as described
above, the Company did not identify any subsequent events that would have required adjustment or disclosure in the financial statements.
F-
14
BANNIX
ACQUISITION CORP.
10,000,000
Units
Prospectus
,
2021
Sole
Book-Running Manager
I-Bankers Securities,
Inc.
Co-Manager
Co-Manager
Through
and including                 , 2021 (25 days
after the commencement of this offering), all dealers that effect transactions in these securities, whether or not participating
in this offering, may be required to deliver a prospectus. This delivery is in addition to a dealer's obligation to deliver
a prospectus when acting as an underwriter and with respect to their unsold allotments or subscriptions.
PART
II
INFORMATION
NOT REQUIRED IN PROSPECTUS
Item 13.
Other Expenses of Issuance and Distribution.
The
estimated expenses payable by us in connection with the offering described in this registration statement (other than the underwriting
discounts and commissions) will be as follows:
Legal
    fees and expenses
$
225,000
Accounting
    fees and expenses
40,000
Underwriter's
    counsel and road show fees
150,000
Printing
    and EDGAR filing fees
40,000
SEC
    registration fees
12,860
FINRA
    Expenses
18,181
Directors'
    and officers' insurance
400,000
Nasdaq
    listing and filing fees
75,000
Miscellaneous
    expenses
38,959
Total
    offering expenses
$
1,000,000
Item 14.
Indemnification of Directors and Officers.
Our
amended and restated certificate of incorporation will provide that all of our directors, officers, employees and agents shall
be entitled to be indemnified by us to the fullest extent permitted by Section 145 of the Delaware General Corporation Law
("DGCL"). Section 145 of the DGCL concerning indemnification of officers, directors, employees and agents is
set forth below.
Section 145.
Indemnification of officers, directors, employees and agents; insurance.
(a)
A
    corporation shall have power to indemnify any person who was or is a party or is threatened to be made a party to any threatened,
    pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action
    by or in the right of the corporation) by reason of the fact that the person is or was a director, officer, employee or agent
    of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another
    corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys' fees), judgments,
    fines and amounts paid in settlement actually and reasonably incurred by the person in connection with such action, suit or
    proceeding if the person acted in good faith and in a manner the person reasonably believed to be in or not opposed to the
    best interests of the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe
    the person's conduct was unlawful. The termination of any action, suit or proceeding by judgment, order, settlement,
    conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that the person
    did not act in good faith and in a manner which the person reasonably believed to be in or not opposed to the best interests
    of the corporation, and, with respect to any criminal action or proceeding, had reasonable cause to believe that the person's
    conduct was unlawful.
(b)
A
    corporation shall have power to indemnify any person who was or is a party or is threatened to be made a party to any threatened,
    pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor by reason of
    the fact that the person is or was a director, officer, employee or agent of the corporation, or is or was serving at the
    request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust
    or other enterprise against expenses (including attorneys' fees) actually and reasonably incurred by the person in connection
    with the defense or settlement of such action or suit if the person acted in good faith and in a manner the person reasonably
    believed to be in or not opposed to the best interests of the corporation and except that no indemnification shall be made
    in respect of any claim, issue or matter as to which such person shall have been adjudged to be liable to the corporation
    unless and only to the extent that the Court of Chancery or the court in which such action or suit was brought shall determine
    upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person
    is fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery or such other court shall deem
    proper.
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1
(c)
To
    the extent that a present or former director or officer of a corporation has been successful on the merits or otherwise in
    defense of any action, suit or proceeding referred to in subsections (a) and (b) of this section, or in defense
    of any claim, issue or matter therein, such person shall be indemnified against expenses (including attorneys' fees)
    actually and reasonably incurred by such person in connection therewith.
(d)
Any
    indemnification under subsections (a) and (b) of this section (unless ordered by a court) shall be made by the corporation
    only as authorized in the specific case upon a determination that indemnification of the present or former director, officer,
    employee or agent is proper in the circumstances because the person has met the applicable standard of conduct set forth in
    subsections (a) and (b) of this section. Such determination shall be made, with respect to a person who is a director
    or officer at the time of such determination, (1) by a majority vote of the directors who are not parties to such action,
    suit or proceeding, even though less than a quorum, or (2) by a committee of such directors designated by majority vote
    of such directors, even though less than a quorum, or (3) if there are no such directors, or if such directors so direct,
    by independent legal counsel in a written opinion, or (4) by the stockholders.
(e)
Expenses
    (including attorneys' fees) incurred by an officer or director in defending any civil, criminal, administrative or investigative
    action, suit or proceeding may be paid by the corporation in advance of the final disposition of such action, suit or proceeding
    upon receipt of an undertaking by or on behalf of such director or officer to repay such amount if it shall ultimately be
    determined that such person is not entitled to be indemnified by the corporation as authorized in this section. Such expenses
    (including attorneys' fees) incurred by former officers and directors or other employees and agents may be so paid upon
    such terms and conditions, if any, as the corporation deems appropriate.
(f)
The
    indemnification and advancement of expenses provided by, or granted pursuant to, the other subsections of this section shall
    not be deemed exclusive of any other rights to which those seeking indemnification or advancement of expenses may be entitled
    under any bylaw, agreement, vote of stockholders or disinterested directors or otherwise, both as to action in such person's
    official capacity and as to action in another capacity while holding such office. A right to indemnification or to advancement
    of expenses arising under a provision of the certificate of incorporation or a bylaw shall not be eliminated or impaired by
    an amendment to such provision after the occurrence of the act or omission that is the subject of the civil, criminal, administrative
    or investigative action, suit or proceeding for which indemnification or advancement of expenses is sought, unless the provision
    in effect at the time of such act or omission explicitly authorizes such elimination or impairment after such action or omission
    has occurred.
(g)
A
    corporation shall have power to purchase and maintain insurance on behalf of any person who is or was a director, officer,
    employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee
    or agent of another corporation, partnership, joint venture, trust or other enterprise against any liability asserted against
    such person and incurred by such person in any such capacity, or arising out of such person's status as such, whether
    or not the corporation would have the power to indemnify such person against such liability under this section.
(h)
For
    purposes of this section, references to "the corporation" shall include, in addition to the resulting corporation,
    any constituent corporation (including any constituent of a constituent) absorbed in a consolidation or merger which, if its
    separate existence had continued, would have had power and authority to indemnify its directors, officers, and employees or
    agents, so that any person who is or was a director, officer, employee or agent of such constituent corporation, or is or
    was serving at the request of such constituent corporation as a director, officer, employee or agent of another corporation,
    partnership, joint venture, trust or other enterprise, shall stand in the same position under this section with respect to
    the resulting or surviving corporation as such person would have with respect to such constituent corporation if its separate
    existence had continued.
II-
2
(i)
For
    purposes of this section, references to "other enterprises" shall include employee benefit plans; references to
    "fines" shall include any excise taxes assessed on a person with respect to any employee benefit plan; and references
    to "serving at the request of the corporation" shall include any service as a director, officer, employee or agent
    of the corporation which imposes duties on, or involves services by, such director, officer, employee or agent with respect
    to an employee benefit plan, its participants or beneficiaries; and a person who acted in good faith and in a manner such
    person reasonably believed to be in the interest of the participants and beneficiaries of an employee benefit plan shall be
    deemed to have acted in a manner "not opposed to the best interests of the corporation" as referred to in this
    section.
(j)
The
    indemnification and advancement of expenses provided by, or granted pursuant to, this section shall, unless otherwise provided
    when authorized or ratified, continue as to a person who has ceased to be a director, officer, employee or agent and shall
    inure to the benefit of the heirs, executors and administrators of such a person.
(k)
The
    Court of Chancery is hereby vested with exclusive jurisdiction to hear and determine all actions for advancement of expenses
    or indemnification brought under this section or under any bylaw, agreement, vote of stockholders or disinterested directors,
    or otherwise. The Court of Chancery may summarily determine a corporation's obligation to advance expenses (including
    attorneys' fees).
Insofar
as indemnification for liabilities arising under the Securities Act of 1933, as amended (the "Securities Act") may
be permitted to our directors, officers, and controlling persons pursuant to the foregoing provisions, or otherwise, we have been
advised that, in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities Act and
is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment of
expenses incurred or paid by a director, officer or controlling person in a successful defense of any action, suit or proceeding)
is asserted by such director, officer or controlling person in connection with the securities being registered, we will, unless
in the opinion of our counsel the matter has been settled by controlling precedent, submit to the court of appropriate jurisdiction
the question whether such indemnification by us is against public policy as expressed in the Securities Act and will be governed
by the final adjudication of such issue.
In
accordance with Section 102(b)(7) of the DGCL, our amended and restated certificate of incorporation, will provide that no
director shall be personally liable to us or any of our stockholders for monetary damages resulting from breaches of their fiduciary
duty as directors, except to the extent such limitation on or exemption from liability is not permitted under the DGCL. The effect
of this provision of our amended and restated certificate of incorporation is to eliminate our rights and those of our stockholders
(through stockholders' derivative suits on our behalf) to recover monetary damages against a director for breach of the
fiduciary duty of care as a director, including breaches resulting from negligent or grossly negligent behavior, except, as restricted
by Section 102(b)(7) of the DGCL. However, this provision does not limit or eliminate our rights or the rights of any stockholder
to seek nonmonetary relief, such as an injunction or rescission, in the event of a breach of a director's duty of care.
If
the DGCL is amended to authorize corporate action further eliminating or limiting the liability of directors, then, in accordance
with our amended and restated certificate of incorporation, the liability of our directors to us or our stockholders will be eliminated
or limited to the fullest extent authorized by the DGCL, as so amended. Any repeal or amendment of provisions of our amended and
restated certificate of incorporation limiting or eliminating the liability of directors, whether by our stockholders or by changes
in law, or the adoption of any other provisions inconsistent therewith, will (unless otherwise required by law) be prospective
only, except to the extent such amendment or change in law permits us to further limit or eliminate the liability of directors
on a retroactive basis.
Our
amended and restated certificate of incorporation will also provide that we will, to the fullest extent authorized or permitted
by applicable law, indemnify our current and former officers and directors, as well as those persons who, while directors or officers
of our corporation, are or were serving as directors, officers, employees or agents of another entity, trust or other enterprise,
including service with respect to an employee benefit plan, in connection with any threatened, pending or completed proceeding,
whether civil, criminal, administrative or investigative, against all expense, liability and loss (including, without limitation,
attorneys' fees, judgments, fines, ERISA excise taxes and penalties and amounts paid in settlement) reasonably incurred
or suffered by any such person in connection with any such proceeding. Notwithstanding the foregoing, a person eligible for indemnification
pursuant to our amended and restated certificate of incorporation will be indemnified by us in connection with a proceeding initiated
by such person only if such proceeding was authorized by our board of directors, except for proceedings to enforce rights to indemnification.
II-
3
The
right to indemnification which will be conferred by our amended and restated certificate of incorporation is a contract right
that includes the right to be paid by us the expenses incurred in defending or otherwise participating in any proceeding referenced
above in advance of its final disposition, provided, however, that if the DGCL requires, an advancement of expenses incurred by
our officer or director (solely in the capacity as an officer or director of our corporation) will be made only upon delivery
to us of an undertaking, by or on behalf of such officer or director, to repay all amounts so advanced if it is ultimately determined
that such person is not entitled to be indemnified for such expenses under our amended and restated certificate of incorporation
or otherwise.
The
rights to indemnification and advancement of expenses will not be deemed exclusive of any other rights which any person covered
by our amended and restated certificate of incorporation may have or hereafter acquire under law, our amended and restated certificate
of incorporation, our bylaws, an agreement, vote of stockholders or disinterested directors, or otherwise.
Any
repeal or amendment of provisions of our amended and restated certificate of incorporation affecting indemnification rights, whether
by our stockholders or by changes in law, or the adoption of any other provisions inconsistent therewith, will (unless otherwise
required by law) be prospective only, except to the extent such amendment or change in law permits us to provide broader indemnification
rights on a retroactive basis, and will not in any way diminish or adversely affect any right or protection existing at the time
of such repeal or amendment or adoption of such inconsistent provision with respect to any act or omission occurring prior to
such repeal or amendment or adoption of such inconsistent provision. Our amended and restated certificate of incorporation will
also permit us, to the extent and in the manner authorized or permitted by law, to indemnify and to advance expenses to persons
other that those specifically covered by our amended and restated certificate of incorporation.
Our
bylaws include the provisions relating to advancement of expenses and indemnification rights consistent with those which will
be set forth in our amended and restated certificate of incorporation. In addition, our bylaws provide for a right of indemnity
to bring a suit in the event a claim for indemnification or advancement of expenses is not paid in full by us within a specified
period of time. Our bylaws also permit us to purchase and maintain insurance, at our expense, to protect us and/or any director,
officer, employee or agent of our corporation or another entity, trust or other enterprise against any expense, liability or loss,
whether or not we would have the power to indemnify such person against such expense, liability or loss under the DGCL.
Any
repeal or amendment of provisions of our bylaws affecting indemnification rights, whether by our board of directors, stockholders
or by changes in applicable law, or the adoption of any other provisions inconsistent therewith, will (unless otherwise required
by law) be prospective only, except to the extent such amendment or change in law permits us to provide broader indemnification
rights on a retroactive basis, and will not in any way diminish or adversely affect any right or protection existing thereunder
with respect to any act or omission occurring prior to such repeal or amendment or adoption of such inconsistent provision.
We
will enter into indemnification agreements with each of our officers and directors a form of which is to be filed as an exhibit
to this Registration Statement. These agreements will require us to indemnify these individuals to the fullest extent permitted
under Delaware law against liabilities that may arise by reason of their service to us, and to advance expenses incurred as a
result of any proceeding against them as to which they could be indemnified.
Pursuant
to the Underwriting Agreement to be filed as Exhibit 1.1 to this Registration Statement, we have agreed to indemnify the underwriters
and the underwriters have agreed to indemnify us against certain civil liabilities that may be incurred in connection with this
offering, including certain liabilities under the Securities Act.
Item 15.
Recent Sales of Unregistered Securities.
In
January and February 2021, we issued 2,875,000 shares of common stock to our initial stockholders for an aggregate purchase price
of $28,750. Such securities were issued in connection with our organization pursuant to the exemption from registration contained
in Section 4(a)(2) of the Securities Act. Our sponsors are accredited investors for purposes of Rule 501 of Regulation
D.
Our
sponsors and The anchor investor have committed to purchase an aggregate of 3,500,000 warrants (or 3,800,000 warrants
if the underwriters' over-allotment option is exercised in full) at a price of $1.00 per warrant ($3,500,000 in the aggregate,
or $3,800,000 if the underwriters' over-allotment option is exercised in full) in a private placement that will close simultaneously
with the closing of this offering. These issuances will be made pursuant to the exemption from registration contained in Section 4(a)(2)
of the Securities Act.
No
underwriting discounts or commissions were or will be paid with respect to such sales.
II-
4
Item 16.
Exhibits and Financial Statement Schedules.
(a)
Exhibits.
    The list of exhibits immediately preceding the signature page of this registration statement is incorporated herein by reference.
(b)
Financial
    Statements. See page F-1 for an index to the financial statements and schedules included in the registration statement.
Item 17.
Undertakings.
(a)
The
    undersigned registrant hereby undertakes to provide to the underwriters at the closing specified in the underwriting agreements,
    certificates in such denominations and registered in such names as required by the underwriters to permit prompt delivery
    to each purchaser.
(b)
Insofar
    as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling
    persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the
    opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities
    Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the
    payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the
    successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection
    with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled
    by controlling precedent, submit to a
court
    of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities
    Act and will be governed by the final adjudication of such issue.
(c)
The
    undersigned registrant hereby undertakes that:
(1)
For
    purposes of determining any liability under the Securities Act, the information omitted from the form of prospectus filed
    as part of this registration statement in reliance upon Rule 430A and contained in a form of prospectus filed by the
    registrant pursuant to Rule 424(b)(1) or (4) or 497(h) under the Securities Act shall be deemed to be part of this
    registration statement as of the time it was declared effective.
(2)
For
    the purpose of determining any liability under the Securities Act, each post-effective amendment that contains a form of prospectus
    shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities
    at that time shall be deemed to be the initial bona fide offering thereof.
(3)
For
    the purpose of determining liability under the Securities Act to any purchaser, if the registrant is subject to Rule 430C,
    each prospectus filed pursuant to Rule 424(b) as part of a registration statement relating to an offering, other than
    registration statements relying on Rule 430B or other than prospectuses filed in reliance on Rule 430A, shall be
    deemed to be part of and included in the registration statement as of the date it is first used after effectiveness. Provided,
    however, that no statement made in a registration statement or prospectus that is part of the registration statement or made
    in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part
    of the registration statement will, as to a purchaser with a time of contract of sale prior to such first use, supersede or
    modify any statement that was made in the registration statement or prospectus that was part of the registration statement
    or made in any such document immediately prior to such date of first use.
(4)
For
    the purpose of determining liability of a registrant under the Securities Act to any purchaser in the initial distribution
    of the securities, the undersigned registrant undertakes that in a primary offering of securities of an undersigned registrant
    pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser,
    if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant
    will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:
(i)
Any
    preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant
    to Rule 424;
(ii)
Any
    free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred
    to by an undersigned registrant;
(iii)
The
    portion of any other free writing prospectus relating to the offering containing material information about the undersigned
    registrant or its securities provided by or on behalf of the undersigned registrant; and
(iv)
Any
    other communication that is an offer in the offering made by the undersigned registrant to the purchaser.
II-
5
EXHIBIT
INDEX
Exhibit No.
Description
1.1
Form
    of Underwriting Agreement.**
1.2
Form
    of Business Combination Marketing Agreement between the Registrant and I-Bankers Securities, Inc.**
3.1
Certificate
    of Incorporation.**
3.2
Form
    of Amended and Restated Certificate of Incorporation.**
3.3
Bylaws.**
4.1
Specimen
    Unit Certificate.**
4.2
Specimen
    Common Stock Certificate.**
4.3
Specimen
    Warrant Certificate.**
4.4
Form
    of Warrant Agreement between Continental Stock Transfer & Trust Company and the Registrant.**
5.1
Opinion
    of Loeb & Loeb LLP.**
10.1
Promissory
    Note issued by the Registrant to Sponsors.**
10.2
Form
    of Letter Agreement among the Registrant, Sponsors and each officer and director of the Registrant.**
10.3
Form
    of Investment Management Trust Agreement between Continental Stock Transfer & Trust Company and the Registrant.**
10.4
Form
    of Registration Rights Agreement among the Registrant and certain security holders.**
10.5
Form
    of Founder Stock Subscription Agreement.**
10.6
Form
    of Private Placement Warrants Purchase Agreement between the Registrant and the parties thereto.**
10.7
Form
    of Subscription Agreement between the Registrant and Sponsors.*
10.8
Form
    of Indemnity Agreement.**
10.9
Form
    of Administrative Services Agreement.**
14
Form
    of Code of Ethics.**
23.1
Consent of Rotenberg, Meril, Solomon Bertiger & Guttilla, P.C.
*
23.2
Consent
    of Loeb & Loeb LLP (to be included on Exhibit 5.1).**
99.1
Form
    of Audit Committee Charter.**
99.2
Form
    of Compensation Committee Charter.**
99.4
Consent of Dr. Hossein Eslambolchi
*
99.5
Consent of Dr. Kumar Shiralagi
*
99.6
Consent of Mr. Vishant Vora
*
*
Filed
    herewith.
**
To
    be filed by Amendment.
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6
SIGNATURES
Pursuant
to the requirements of the Securities Act of 1933, as amended, the registrant has duly caused this Registration Statement to be
signed on its behalf by the undersigned, thereunto duly authorized, in the City of Woodcliff Lake, State of New Jersey on the
19th day of February, 2021.
BANNIX
    ACQUISITION CORP.
By:
/s/
    Subash Menon
Name:
Subash
    Menon
Title:
Chairman
    and Chief Executive Officer
Pursuant
to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed below by the following
persons in the capacities and on the dates indicated.
Name
Position
Date
/s/
    Subash Menon
Chairman
    and Chief Executive Officer
February
    19, 2021
Subash
    Menon
(Principal
    Executive Officer
/s/
    Sudeesh Yezhuvath
Director
    and Chief Operating Officer
February
    19, 2021
Sudeesh
    Yezhuvath
/s/
    Nicholas Hellyer
Chief
    Financial Officer
February
    19, 2021
Nicholas
    Hellyer
(Principal
    Financial and Accounting Officer)
II-7