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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>As filed with the Securities and
Exchange Commission on April 23, 2021</B>&nbsp;</P>

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

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


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<P STYLE="font: 14pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 12pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

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<P STYLE="font: 18pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM S-1</B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>REGISTRATION STATEMENT<BR>
UNDER THE SECURITIES ACT OF 1933</B></P>

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

<P STYLE="font: 24pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SPK Acquisition Corp.</B></P>

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

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<TD STYLE="width: 34%; border-bottom: black 1.5pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Delaware</B></FONT></TD>
<TD STYLE="width: 2%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="width: 31%; border-bottom: black 1.5pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>6770</B></FONT></TD>
<TD STYLE="width: 2%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="width: 31%; border-bottom: black 1.5pt solid; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>86-1373795</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State
or other jurisdiction of<BR> incorporation or organization)</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Primary
Standard Industrial<BR> Classification Code Number)</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(I.R.S.
Employer<BR> Identification Number)</FONT></TD></TR>
</TABLE>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Room 368, 302 Buwei</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>211 Fute North Road, </B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>China (Shanghai) Pilot Free Trade
Zone, 200131</B><BR>
<B>+86 13439129879</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">(Address, including zip code, and telephone
number, including area code, of registrant&rsquo;s principal executive<BR>
offices)</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Cogency Global lnc.</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>122 East 42<SUP>nd</SUP>&nbsp;Street,
18<SUP>th&nbsp;</SUP>Floor</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>New York, NY 10168</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>+1 800-221-0102</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">(Name, address, including zip code, and
telephone number, including area code, of agent for service)</P>

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

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

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<TD STYLE="width: 50%; padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Mitchell S. Nussbaum</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Tahra Wright</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Loeb &amp; Loeb LLP</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>345 Park Avenue</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>New York, New York 10154</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>(212) 407-4000</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>(212) 407-4990 &mdash; Facsimile</B></FONT></TD>
<TD STYLE="width: 50%; padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Alexandria
Kane<BR> White and Williams LLP<BR> 7 Times Square<BR> Suite 2900<BR> New York, New York 10036<BR> (212) 244-9500<BR> (212) 868-4844
&mdash; Facsimile</B></FONT></TD></TR>
</TABLE>


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

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

<P STYLE="font: 10pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><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.<FONT STYLE="font-size: 10pt"> &#9744;</FONT></FONT></P>

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

<P STYLE="font: 10pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><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.&nbsp;&nbsp;&#9744;</FONT></P>

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

<P STYLE="font: 10pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><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.&nbsp;&nbsp;&#9744;</FONT></P>

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

<P STYLE="font: 10pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><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.&nbsp;&nbsp;&#9744;</FONT></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting 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.:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Large
    accelerated filer&nbsp;&nbsp;&#9744;</FONT></TD>
    <TD STYLE="width: 50%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accelerated
    filer&nbsp;&nbsp;&#9744;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-accelerated
    filer&nbsp;&nbsp;&#9746;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Smaller
    reporting company&nbsp;&nbsp;&#9746;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Emerging
    growth&nbsp;company&nbsp;&nbsp;&#9746;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><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.&nbsp;&nbsp;&#9744;</FONT></P>

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

<P STYLE="font: 10pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CALCULATION OF REGISTRATION FEE</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></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 STYLE="font-weight: bold; text-align: left; border-bottom: Black 1pt solid; padding: 0 0 0 10; text-indent: -10">Title of Class of Security being registered</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount to be<BR> Registered</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Proposed<BR> maximum<BR> offering price<BR> per share</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Proposed</B></FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Maximum</B></FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Aggregate</B></FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Offering</B></FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Price<SUP>(1)</SUP></B></FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount of<BR> Registration Fee</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 40%; text-align: left; text-indent: -10; padding: 0 0 0 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Units, each consisting of one share of Common Stock, $0.0001 par value and one Right to acquire 1/10 of one share of Common Stock<SUP>(2)</SUP></FONT></TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">5,750,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">10.00</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">57,500,000.00</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">6,273.25</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -10; padding: 0 0 0 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shares of Common Stock, $0.0001 par value, included as part of the Units<SUP>(2)(3)</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,750,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left"><SUP>(4)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10; padding: 0 0 0 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rights included as part of the Units<SUP>(2)(3)</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,750,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left"><SUP>(4)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10; padding: 0 0 0 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shares of Common Stock underlying the Rights included as part of Units<SUP>(2)</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">575,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">10.00</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">5,750,000.00</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">627.33</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0 0 0 10; text-indent: -10">Representative&rsquo;s shares of Common Stock</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">28,750</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">10.00</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">287,500.00</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">31.37</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0 0 0 10; text-indent: -10">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">63,537,500.00</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">6,931.94</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">&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: 5%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="width: 95%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(o) under the Securities Act.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes
    Units, shares of Common Stock and Rights underlying such Units, and shares of Common Stock underlying the Rights included in
    such Units which may be issued on exercise of a 45-day option granted to the Underwriters to cover over-allotments, if
    any.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to Rule 416, there are also being registered an indeterminable number of additional securities as may be issued to prevent dilution resulting from share splits, share capitalizations or similar transactions.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No fee pursuant to Rule 457(g).</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 16.2pt; text-align: justify; text-indent: -16.2pt">&nbsp;</P>

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

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; color: red"><B>The information in this
preliminary 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 is not soliciting
an offer to buy these securities in any state where the offer or sale is not permitted.</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 39%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: red"><B>PRELIMINARY PROSPECTUS</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="width: 60%; padding-right: 0.8pt; text-align: right; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><B>SUBJECT
    TO COMPLETION, DATED APRIL 23, 2021</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>$50,000,000<BR>
SPK Acquisition Corp.<BR>
5,000,000 Units</B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">SPK Acquisition Corp. is a blank check
company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar
business combination with one or more businesses. Our efforts to identify a prospective target business will not be limited to
a particular industry or geographic region, although the Company intends to focus on businesses in Asia operating in the telecommunications,
media, and technology (&ldquo;TMT&rdquo;) sectors.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">This is an initial public offering of
our securities. Each unit that we are offering has a price of $10.00 and consists of one share of common stock and one right to
receive one-tenth (1/10) of a share of common stock upon the consummation of an initial business combination, as described in more
detail in this prospectus.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We have granted Chardan Capital Markets,
LLC (&ldquo;Chardan&rdquo;), the representative of the underwriters, a 45-day option to purchase up to 750,000 units (over and above
the 5,000,000 units referred to above) solely to cover over-allotments, if any.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Our sponsor, SPK Acquisition LLC (which
is controlled by Philip Chun-Hun Kwan) has committed to purchase from us an aggregate of 205,000 units, or &ldquo;private units,&rdquo;
at $10.00 per private unit (for a total purchase price of $2,050,000). These purchases will take place on a private placement basis
simultaneously with the consummation of this offering. All of the proceeds we receive from these purchases will be placed in the
trust account described below. Our sponsor has also agreed that if the over-allotment option is exercised by the underwriters,
they will purchase from us at a price of $10.00 per private unit an additional number of private units (up to a maximum of 15,000
private units) <I>pro rata</I> with the amount of the over-allotment option exercised so that at least $10.00 per share sold to
the public in this offering is held in trust regardless of whether the over-allotment option is exercised in full or part. These
additional private units will be purchased in a private placement that will occur simultaneously with the purchase of units resulting
from the exercise of the over-allotment option.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">There is presently no public market
for our units, shares of common stock or rights. We have applied to have our units listed on the Nasdaq Capital Market, or Nasdaq,
under the symbol &ldquo;SPKU&rdquo;. We cannot guarantee that our securities will be approved for listing on Nasdaq. The
common stock and rights comprising the units will begin separate trading on the 90<SUP>th</SUP> day following the date of this
prospectus unless Chardan informs us of its decision to allow separate earlier trading, subject to our filing a Report on Form
8-K with the Securities and Exchange Commission 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. Once the securities comprising
the units begin separate trading as described in this prospectus, the common stock and rights will be traded on Nasdaq under the
symbols &ldquo;SPK,&rdquo; and &ldquo;SPKR,&rdquo; respectively. We cannot assure you that our securities will continue
to be listed on Nasdaq after this offering.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We qualify as an &ldquo;emerging growth
company&rdquo; as defined in the Jumpstart Our Business Startups Act of 2012, and therefore will be subject to reduced reporting
requirements.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Investing in our securities involves
a high degree of risk. See &ldquo;Risk Factors&rdquo; beginning on page 23 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></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Neither the U.S. Securities and
Exchange Commission 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></P>

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

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

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></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 COLSPAN="2" STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Price to Public</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Underwriting</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Discounts and</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Commissions</B></FONT></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Proceeds,&nbsp;</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Before</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Expenses,</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>to us</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 42%; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Per Unit</FONT></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">10.00</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">0.50</TD><TD STYLE="width: 1%; text-align: left"><SUP>(1)</SUP></TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">9.50</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Total</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">50,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">47,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="width: 95%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes
    $1,500,000, or $0.30 per unit, equal to 3.0% of the gross proceeds of this offering (or $1,725,000 if the underwriters&rsquo;
    over-allotment option is exercised in full) payable to the underwriters as deferred underwriting discounts and commissions
    at the closing of our initial business combination from the funds to be placed in the trust account described below. Such
    funds will be released to the underwriters only upon consummation of an initial business combination, as described in this
    prospectus. If the business combination is not consummated, such deferred discount will be forfeited by the underwriters.
    The underwriters will not be entitled to any interest accrued on the deferred underwriting discount. The underwriter will
    also be entitled to 0.5% of the gross proceeds of this offering in the form of our shares at a price of $10.00 per share,
    to be issued when we close this offering.</FONT></TD></TR>
</TABLE>
<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-align: justify">Upon consummation of the offering,
$10.00 per unit sold to the public in this offering (whether or not the underwriters&rsquo; over-allotment option has been exercised
in full or part) will be deposited into a United States-based trust account at JP Morgan Chase, maintained by Continental Stock
Transfer &amp; Trust Company, acting as trustee. Such amount includes $1,500,000, or $0.30 per unit, (or $1,725,000 if the underwriters&rsquo;
over-allotment option is exercised in full) payable to the underwriters as deferred underwriting discounts and commissions. Except
as described in this prospectus, these funds will not be released until the earlier of the completion of our initial business
combination and our redemption of the shares of common stock sold in this offering upon our failure to consummate a business combination
within the required period.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The underwriters are offering the units
on a firm commitment basis. Chardan Capital Markets, LLC, acting as the sole book-running manager and representative of the underwriters,
expects to deliver the units to purchasers on or about [&#9679;], 2021.</P>

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

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">The date of this prospectus is [&#9679;],
2021</P>

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

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

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

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
<TD STYLE="width: 90%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 10%; border-bottom: black 1.5pt solid; padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>PAGE</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 9pt; text-indent: -9pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#a_001">PROSPECTUS SUMMARY</A></FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD STYLE="padding-left: 9pt; text-indent: -9pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#a_002">SUMMARY FINANCIAL DATA</A></FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">20</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 9pt; text-indent: -9pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#a_003">RISK FACTORS</A></FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">21</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD STYLE="padding-left: 9pt; text-indent: -9pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#a_004">CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS</A></FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">46</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 9pt; text-indent: -9pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#a_005">USE OF PROCEEDS</A></FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">47</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD STYLE="padding-left: 9pt; text-indent: -9pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#a_006">DIVIDEND POLICY</A></FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">49</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 9pt; text-indent: -9pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#a_007">DILUTION</A></FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">50</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD STYLE="padding-left: 9pt; text-indent: -9pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#a_008">CAPITALIZATION</A></FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">52</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 9pt; text-indent: -9pt; line-height: 107%"><FONT STYLE="font: 10pt 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-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">53</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD STYLE="padding-left: 9pt; text-indent: -9pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#a_010">PROPOSED BUSINESS</A></FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">57</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 9pt; text-indent: -9pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#a_011">MANAGEMENT</A></FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">74</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD STYLE="padding-left: 9pt; text-indent: -9pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#a_012">PRINCIPAL STOCKHOLDERS</A></FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">81</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 9pt; text-indent: -9pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#a_013">CERTAIN TRANSACTIONS</A></FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD STYLE="padding-left: 9pt; text-indent: -9pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#a_014">DESCRIPTION OF SECURITIES</A></FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">85</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 9pt; text-indent: -9pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#a_015">SHARES ELIGIBLE FOR FUTURE SALE</A></FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">88</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD STYLE="padding-left: 9pt; text-indent: -9pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#a_016">UNDERWRITING</A></FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">89</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 9pt; text-indent: -9pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#a_017">LEGAL MATTERS</A></FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">92</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD STYLE="padding-left: 9pt; text-indent: -9pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#a_018">EXPERTS</A></FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">93</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-left: 9pt; text-indent: -9pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#a_019">WHERE YOU CAN FIND ADDITIONAL INFORMATION</A></FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">93</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD STYLE="padding-left: 9pt; text-indent: -9pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#a_020">INDEX TO FINANCIAL STATEMENTS</A></FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">F-1</FONT></TD></TR>
</TABLE>

<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"></P>

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<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 4.7pt; text-align: center"><B><A NAME="a_001"></A>PROSPECTUS SUMMARY</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">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.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">Unless otherwise stated in this
prospectus, references to:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="width: 94%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;we,&rdquo;
&ldquo;us,&rdquo; &ldquo;our company&rdquo; or &ldquo;the company&rdquo; refer to SPK Acquisition Corp.;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;insider
shares&rdquo; refer to the 1,437,500 shares of common stock held or controlled by our insiders (as defined below) prior to this
offering, which include up to an aggregate of 187,500 shares of common stock subject to forfeiture by our insiders to the extent
that the underwriters&rsquo; over-allotment option is not exercised in full or in part;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;private
units&rdquo; refer to the 205,000 units (up to a maximum of 220,000 units if over-allotment option is exercised in full) we are
selling privately to SPK Acquisition LLC, our sponsor, upon consummation of this offering;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
&ldquo;management&rdquo; or our &ldquo;management team&rdquo; refer to our officers and directors;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
&ldquo;public shares&rdquo; refer to shares of common stock which are being sold as part of the units in this offering (whether
they are purchased in this offering or thereafter in the open market) and references to &ldquo;public stockholders&rdquo; refer
to the holders of our public shares, including our insiders to the extent our insiders purchase public shares, provided that their
status as &ldquo;public stockholders&rdquo; shall exist only with respect to such public shares;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
&ldquo;rights&rdquo; or &ldquo;public rights&rdquo; refer to the rights which are being sold as part of the units in this offering;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
&ldquo;insiders&rdquo; refer to our officers, directors, sponsor and any other holder of our insider shares; </FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
&ldquo;sponsor&rdquo; refers to SPK Acquisition LLC, the managing member of which is Philip Chun-Hun Kwan, our Chief Financial
Officer; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;representative
shares&rdquo; refers to the 25,000 ordinary shares (28,750 if the over-allotment option is exercised in full) issued as compensation
to the representative and/or its designees.</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">Except as specifically provided
otherwise, the information in this prospectus assumes that the underwriters will not exercise their over-allotment option.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">We are responsible for the information
contained in this prospectus. We have not, and the underwriters have not, authorized anyone to provide you with different information,
and we take no responsibility for any other information others may give to you. 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.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: center"><B>General</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">We are a blank check company formed
under the laws of the State of Delaware on December 31, 2020. 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. Our efforts to identify a prospective target business will not
be limited to a particular industry or geographic region, although the Company intends to focus on operating businesses in Asia
focused on the telecommunications, media, and technology (&ldquo;TMT&rdquo;) sectors. We do not have any specific business combination
under consideration and we have not (nor has anyone on our behalf), directly or indirectly, contacted any prospective target business
or had any substantive discussions, formal or otherwise, with respect to such a transaction. 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.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify"></P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: center"><B>Background and Competitive Advantage</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">We will seek to leverage our
management team&rsquo;s proprietary network of relationships with corporate executives, private equity, venture and growth capital
funds, investment banking firms, consultants, family offices, and large corporations in order to source, acquire, and support
the operations of the business combination target. Our management team has extensive experience investing in and operating businesses
within the TMT sector in Asia and North America, and we believe that this combination of relationships and expertise will make
us a preferred partner for and allow us to source high-quality combination targets.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">We believe that our management
team brings a unique background and skillset that will be attractive to leading Asia based companies, and will be able to leverage
the following competitive strengths in identifying, structuring, and consummating a business combination:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="text-align: justify; padding-right: 4.7pt; width: 94%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Extensive
network within the Asia TMT sector.</I> We have longstanding relationships with top TMT executives, investors, entrepreneurs,
and investment banks in the Asia region, which will provide us with access to proprietary investment opportunities and strong
deal flow in our target sectors.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: justify; padding-right: 4.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="text-align: justify; padding-right: 4.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>U.S.
capital markets expertise. </I>Our management team and board possess significant U.S. capital markets experience as investors,
investment bankers, and purchasers and sellers of both private and public companies. </FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: justify; padding-right: 4.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="text-align: justify; padding-right: 4.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Cross-border
deal experience between the U.S. and Asia. </I>Our management team has significant experience completing large-scale domestic
and cross-border transactions, involving acquirers and targets located across the U.S. and Asia.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: justify; padding-right: 4.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="text-align: justify; padding-right: 4.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>TMT-specific
industry knowledge and operator experience. </I>Our management team has operated, invested in, and advised leading TMT companies
in Asia and the U.S., and are regarded as industry experts within our target sector of TMT.</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt 0 40.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: center"><B>Our Board of Directors and Management</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">Our management team is led by
our Chief Executive Officer, Sophie Ye Tao, our Chief Financial Officer, Philip Chun-Hun Kwan, and three independent directors
who collectively have decades of experience in investing, building and operating businesses focused on the TMT sector in both
Asia and North America. Furthermore, our management team has experience in the U.S. capital markets and understands what investors
look for in a public company. We believe that our team has a strong and complementary set of skills which will allow us to identify
a target, execute a business combination, and maximize value to stockholders.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">Sophie Ye Tao, our President
and Chief Executive Officer, has been an active investor in China and the US since 2007. Throughout her investment career, she
has invested in companies including Evernote, 360 DigiTech, Inc. (NASDAQ: QFIN), a leading fintech platform in China, Tricorn
Technology, a leading&nbsp;China-based AI company focused on natural language processing which was later acquired by Tencent in
2020, Shanghai Canxing Culture &amp; Broadcast Company, the largest&nbsp;unscripted content producer in China and Ningmeng Pictures,
a leading Chinese studio focused on television and film production.&nbsp;From 2016 to 2021, Ms. Tao was a partner at Hanfor Capital
Management, a China-based private equity firm&nbsp;and focused on investments in the TMT and consumer industries. She was a co-founder
and partner at Ray Shi Capital Group from 2010 to 2015, a US registered investment adviser focusing on equity investments in Chinese
companies listed in Hong Kong and the U.S. Ms. Tao was the senior investment manager for Greater China at Vision Capital Advisors
in New York City from 2007 to 2010. At Vision, Ms. Tao helped launch and co-managed the Vision Opportunity China Fund, focusing
on sourcing, structuring and investing in small- and medium-sized enterprises in China through reverse mergers, private placements
and private equity. Previously, Ms. Tao worked at Banc of America Securities LLC in New York City in its equity capital markets
group between 2005 and 2007, where she originated and executed convertible bond and other equity&ndash;linked issuances. She also
worked at NERA Economic Consulting in its Chicago and New York City offices between 2003 and 2005 where she helped provide economics
and econometrics analysis and recommendations to multi-national corporations involved in antitrust and securities litigations.
Before that, Ms. Tao worked as a policy consultant at the Organization for Economic Cooperation and Development (OECD) in Paris
from 2001 to 2002, where she advised countries on their economic and regulatory reform policies. Ms. Tao graduated from the Woodrow
Wilson School of Public and International Affairs at Princeton University in 2003 with a Master of Public Affairs (MPA) degree
concentrating in economics and advanced quantitative analysis. She also graduated from the University of International Business
&amp; Economics in Beijing with a Bachelor of Laws degree in 2000.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify"></P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">Mr. Philip Chun-Hun Kwan, our Chief Financial Officer and a member of our board of directors, has spent his career in the TMT industry, as an investor,
advisor and operator since 2004. Mr. Kwan is currently the CEO of Palestra Sports, a sports-focused start-up based in China which
he co-founded in June 2017. From 2010 to 2017, Mr. Kwan was a senior vice president at The Raine Group (&ldquo;Raine&rdquo;),
where he was a founding member of the firm&rsquo;s China practice based in Beijing and subsequently Shanghai. Raine is one of
the world&rsquo;s leading TMT-focused merchant banks, with total assets under management of over $3.5 billion. At Raine, Mr. Kwan
provided investment banking advisory services to leading Chinese and international media and entertainment companies (primarily
mergers and acquisitions and large-scale capital raise transactions), and also worked on the fund side where he helped source
and execute direct principal investments in China. Representative transactions during his time at Raine include the $4.2 billion
sale of the Ultimate Fighting Championship to WME IMG, the sale of 13% of Manchester City Football Group to CMC Capital and CITIC
for $400 million, Perfect World&rsquo;s $250 million investment into Universal Studios&rsquo; film slate, the creation of Flagship
Entertainment, the Chinese film studio co-financed by Warner Bros and CMC Capital, the sale of PPTV to Suning for $420 million,
and the spin-off of and $80 million capital raise for IMAX China, among others. In the Singapore region, Mr. Kwan&nbsp;also
represented Wego in its Series A capital raise. Prior to joining Raine, Mr. Kwan worked at Southfield Capital, a middle market
private equity firm backed by Canyon Capital Advisors focused on North American buyouts. During his time at Southfield, he executed
a number of leveraged buyout transactions across a range of different industries. Mr. Kwan started his professional career in
the mergers and acquisitions advisory group at Evercore Partners in New York. He graduated from The Wharton School at the University
of Pennsylvania with a Bachelor of Science in Economics in 2004. Mr. Kwan is currently married to Ms. Tao.</P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">Mr. Justin Chang serves as an
independent director,&nbsp;and brings us his more than 15 years of technology, product development, and entrepreneurial
experience. Currently, Mr. Chang is the vice president of product at ClassPass, a marketplace aggregator of local fitness, wellness,
and beauty merchants. ClassPass provides customers with a flexible membership that gives them access to 40,000 boutique studios,
gyms, and wellness facilities across 28 countries. He joined ClassPass in 2014 after its seed financing, helping scale the company
from&nbsp;one city to 2,500 cities by leading the engineering, product management, product design, user research, and product
operations teams. In 2019, Mr. Chang helped launch ClassPass China, a localized version of the ClassPass experience.&nbsp;Mr.
Chang also sits on the ClassPass executive team where he oversees global product strategy and product development. Outside
ClassPass, Mr. Chang regularly advises early stage founders and executives on strategy, growth, and product. From 2011&nbsp;to
2014, Mr. Chang worked at AHAlife, a luxury e-commerce marketplace, where he led the product development of its merchant
portal and augmented reality shopping experiences. Prior to AHAlife, Mr. Chang co-founded MatchBright in 2006, a career discovery
platform that leveraged big data to help job seekers discover best fit careers, and operated its business until 2010. Mr. Chang
began his career as a consultant for Bain &amp; Company where he advised Fortune 500 companies in consumer products, retail, TMT,
banking, and healthcare industries from 2004 to 2006.&nbsp;Mr. Chang graduated magna cum laude from The Wharton School
at the University of Pennsylvania&nbsp;in 2004 with degrees in Finance and Management.</P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">Mr. Bryant Chou serves as an
independent director,&nbsp;and brings us his experience in corporate finance and the TMT industry across the US, Asia and
Europe. Since 2012,&nbsp;Mr. Chou has been the CEO of Yi Shi Yi Se (Beijing) Culture Communication Co., Ltd. and its predecessor
company, VICE China, where&nbsp;Mr. Chou oversees the launch and expansion of the local entity, leads commercial activities
and serves as the main liaison for key business partners domestically and across the APAC region. Prior to this, Mr. Chou worked
at DMG Entertainment, a Chinese advertising and entertainment agency from 2011 to 2012. From 2007 to 2008, he was a consultant
at JL McGregor, a boutique equity research firm.&nbsp;Mr. Chou began his career in investment banking in New York at Miller
Buckfire from 2003 to 2006, a leading boutique restructuring firm. &nbsp;Mr. Chou graduated from The Wharton School at
the University of Pennsylvania in December 2002, receiving a Bachelor of Science in Economics with concentrations in Finance and
Management.</P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">Mr. Greg Chang serves as an independent
director, and brings his more than 15 years of experience in technology, gaming, business development, marketing, and entrepreneurship.
Since 2020, Mr. Chang has been the general manager of RealTime Technology, a SAAS company servicing the telecom, retail,
and gaming industries. He is also an investor in multiple startups and a mentor at SOSV, one of the most active VCs in the Asia
region. From 2015 until 2019, Mr. Chang was the director of games and mobile, Greater China, at The Walt Disney Company where
he was responsible for popular titles such as Marvel Future Fight, Star Wars Commander, and Disney TsumTsum. He also developed
several multi-million dollar licensing deals with some of the top technology companies in China. From 2013 to 2015, he
was the vice president of Asia at Glu Mobile where he initiated Glu&rsquo;s $100M+ strategic partnership and investment with Tencent
and helped launch several popular games including Deer Hunter, Eternity Warriors, and Kim Kardashian: Hollywood in the
region. Prior to that, Mr. Chang was the director of business at NCSoft Taiwan from 2011 to 2012 and vice president at The Ivy
Group (a Temasek portfolio company) from 2009 to 2011. Mr. Chang graduated from the University of California, Berkeley with
a Bachelor of Arts in 2001 and also received an MBA from Columbia Business School in 2009.</P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: center"><B>Our Business Strategy and Acquisition
Criteria</B></P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">We intend to focus our efforts
on potential acquisition targets that exhibit compelling long term growth potential and highly defensible market positions. We
believe that our management team&rsquo;s extensive relationships with corporate executives, investors, and entrepreneurs will provide
us with a strong pipeline of potential acquisition opportunities in our target sectors. Our long experience operating and investing
in these sectors in Asia are key differentiators for us compared to other blank check companies, the majority of which we believe
are seeking business combinations exclusively in the U.S. We believe this will allow us to source and execute a business combination
with an attractive target company more quickly, efficiently, and under better terms than our competitors.</P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">We believe that targeting companies
in Asia is compelling because there is a significant pool of high-quality private companies that could benefit from going public
in the United States. According to CB Insights, there are more than 97 &ldquo;unicorns&rdquo; &ndash; private companies valued
at $1 billion or more &ndash; operating within the TMT sectors in Asia. Relative to U.S. based targets, there have also been comparatively
few business combinations between U.S. listed blank check companies and targets located in Asia. According to FactSet, of 150
SPAC business combinations closed from 2017 through February 2021 only 12 (or 8%) of the total involved Asia-based target companies.
Comparatively speaking, during the same period there were 836 traditional IPOs in U.S. markets of which 125 (or 15%) involved
Asia-based issuers. Given the high level of business formation and development in Asia, and the number of high-quality
emerging companies seeking access to the U.S. capital markets in our network, we believe that we will be able to engage
with many leading Asia-based companies interested in a business combination.</P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">We have identified the following
general criteria and guidelines as we evaluate prospective target companies.</P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="text-align: justify; width: 94%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Operating within
the TMT sectors.</I> We intend to seek targets with an enterprise value of approximately $250 million to $1 billion. We will prioritize
targets that are already benefiting from or capitalizing on tailwinds found within their respective TMT sub-sectors.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Strong management
team.</I> The strength of the management team will be an important component in our review process. We will seek to partner with
a management team that is operationally strong and has demonstrated the ability to scale, but is also well-incentivized and aligned
in our future vision for creating long term shareholder value.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Strong and defensible
market position.</I> We intend to favor targets that have a strong competitive advantage or are advanced in their penetration
of new and emerging markets. We will target companies that have strong intellectual property, technology, or brand equity within
their respective sectors and that can be further monetized on a global basis.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Asia-focused but
operating on a global basis.</I> We will seek targets that have already established a strong operating history within Asia, but
which possess a competitive edge to expand into new geographic regions where similar needs exist.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>At a growth inflection
point.</I> We intend to seek targets that may benefit from capital infusions that will be used to fund higher growth through expansion
into new markets and product offerings.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Operating in sectors
that are underpenetrated by dominant global players. </I>We will seek targets that are operating in new and emerging sectors that
are not yet dominated by large global players. Ideally, these sectors will also benefit from strong secular tailwinds that will
provide a long runway for industry growth and profitability into the foreseeable future.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Benefit from being
a public company.</I> We intend to seek targets that may lack experience with the capital markets but that possess the aspiration
to take advantage of improved access to capital that comes from a listing in the U.S. This improved access to capital could allow
the&nbsp;targets to accelerate  growth, pursue new projects, retain and hire employees, and expand into new geographies
or businesses. Ultimately, this combination of enhanced liquidity and access to capital markets will enable our target to accelerate
its growth and increase its resulting value.</FONT></TD></TR>
</TABLE>




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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">While we intend to use these
criteria in evaluating the attractiveness of potential business combination opportunities, we may ultimately decide to enter into
an initial business combination with a target business that does not meet these criteria. In the event that we decide to enter
into our initial business combination with a target business that does not meet the above criteria and guidelines, we will disclose
that the target business does not meet the above criteria and guidelines in our stockholder&nbsp;communications related
to our initial business combination, which, as discussed in this prospectus, would be in the form of tender offer documents or
proxy solicitation materials that we would file with the SEC.</P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify"></P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">In evaluating a prospective target
business, we expect to conduct a thorough due diligence review that will encompass, among other things, meetings with incumbent
management and employees, document reviews, interviews of customers and suppliers, inspection of facilities, as well as reviewing
financial and other information which will be made available to us. We will also utilize our operational and capital allocation
experience. Our acquisition criteria, due diligence processes and value creation methods 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.</P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify"><B>Because of regulations in
mainland China restricting foreign ownership of businesses in certain industries, we may make use of structures like the ones
described in the section below entitled &ldquo;Alternative structures to comply with regulations in certain Chinese industries&rdquo;
on page 62.</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: center"><B>Initial Business Combination</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">We will have until 9 months from
the closing of this offering (or 15 months from the closing of this offering if we have filed a proxy statement, registration
statement or similar filing for an initial business combination within 9 months from the closing of this offering but have not
completed the initial business combination within such 9-month period) to consummate our initial business combination. In addition,
if we anticipate that we may not be able to consummate our initial business combination within 9 months and we have not filed
a proxy statement, registration statement or similar filing for an initial business combination by such date, our insiders or
their affiliates may, but are not obligated to, extend the period of time to consummate a business combination two times by an
additional three months each time (for a total of up to 15 months to complete a business combination), provided that, 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, the only way to extend the time available for
us to consummate our initial business combination in the absence of a proxy statement, registration statement or similar filing
is for our insiders or their affiliates or designees, upon five days&rsquo; advance notice prior to the applicable deadline, to
deposit into the trust account $500,000, or $575,000 if the over-allotment option is exercised in full ($0.10 per share in either
case, or an aggregate of $1,000,000 (or $1,150,000 if the over-allotment option is exercised in full)), on or prior to the date
of the applicable deadline. In the event that they elected to extend the time to complete a business combination and deposited
the applicable amount of money into trust, the insiders would receive a non-interest bearing, unsecured promissory note equal
to the amount of any such deposit that will not be repaid in the event that we are unable to close a business combination unless
there are funds available outside the trust account to do so. Such notes would either be paid upon consummation of our initial
business combination, or, at the relevant insider&rsquo;s discretion, converted upon consummation of our business combination
into additional private units at a price of $10.00 per unit. Our&nbsp;stockholders have approved the issuance of the private
units upon conversion of such notes, to the extent the holder wishes to so convert such notes at the time of the consummation
of our initial business combination. In the event that we receive notice from our insiders five days prior to the applicable deadline
of their intent 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 insiders 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. To the extent that some, but not all, of our insiders,
decide to extend the period of time to consummate our initial business combination, such insiders (or their affiliates or designees)
may deposit the entire amount required. If we are unable to consummate our initial business combination within such time period,
we will, as promptly as possible but not more than ten business days thereafter, redeem 100% of our outstanding public shares
for a pro rata portion of the funds held in the trust account, including a pro rata portion of any interest earned on the funds
held in the trust account and not previously released to us to pay our taxes, and then seek to dissolve and liquidate. However,
we may not be able to distribute such amounts as a result of claims of creditors which may take priority over the claims of our
public stockholders. In the event of our dissolution and liquidation, the private units will expire and will be worthless.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">We will either (1) seek stockholder
approval of our initial business combination at a meeting called for such purpose, at which stockholders may seek to convert 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 (net of taxes payable), or (2) provide our stockholders with the opportunity to sell
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 (net of taxes payable), in each case subject to the
limitations described herein. The decision as to whether we will seek stockholder approval of our proposed business combination
or 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. Any tender offer documents used in connection with a business combination will contain substantially
the same financial and other information about the initial business combination as is required under the SEC&rsquo;s proxy rules.</P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">The initial per public share redemption
or conversion price will be $10.00 per share, regardless of whether the over-allotment option is exercised. However, we may not
be able to distribute such amounts as a result of claims of creditors which may take priority over the claims of our public stockholders.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">Pursuant to the rules of the Nasdaq
Stock Market, our initial business combination must occur with one or more target businesses having an aggregate fair market value
of at least 80% of the value of the trust account (excluding any deferred underwriter&rsquo;s fees and taxes payable on the income earned
on the trust account), which we refer to as the 80% test, at the time of the agreement to enter into the initial business combination.
Therefore, the fair market value of the target business will be calculated prior to any conversions of our shares in connection
with a business combination and therefore will be a minimum of $38,800,000 (or $44,620,000 if the over-allotment option is exercised
in full) in order to satisfy the 80% test. While the fair market value of the target business must satisfy the 80% test, the consideration
we pay the owners of the target business may be a combination of cash (whether cash from the trust account or cash from a debt
or equity financing transaction that closes concurrently with the business combination) or our equity securities. The exact nature
and amount of consideration would be determined based on negotiations with the target business, although we will attempt to primarily
use our equity as transaction consideration. 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 with respect to the satisfaction
of such criteria. We will also obtain a fairness opinion from an independent investment banking firm before consummating a business
combination with an entity affiliated with any of our officers, directors or insiders. If we are no longer listed on Nasdaq, we
will not be required to satisfy the 80% test.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">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 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, but we will only complete such business
combination if the post-transaction company owns 50% or more of the outstanding voting securities of the target or otherwise owns
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, or the Investment Company Act. 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-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% test.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">As more fully discussed in &ldquo;Management
&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 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. All of our officers, directors and director nominees currently have certain relevant pre-existing fiduciary
duties or contractual obligations.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">We are an &ldquo;emerging growth
company,&rdquo; as defined in Section 2(a) of 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.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">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 until we are no longer an &ldquo;emerging
growth company.&rdquo;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify"></P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">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)&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 non-affiliates exceeds $700 million as
of the prior June 30<SUP>th</SUP>, and (2) the date on which we have issued more than $1.0 billion in non-convertible debt 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.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: center"><B>Private Placements</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">On January 28, 2021, our sponsor,
SPK Acquisition LLC, purchased 1,437,500 insider shares for an aggregate purchase price of $25,000, or approximately $0.017 per
share. Our sponsor expects to transfer 4,000 insider shares to the three independent directors at the closing of this offering.
The per share purchase price of the insider shares was determined by dividing the amount of cash contributed to the company by
the aggregate number of insider shares issued. The number of insider shares issued was determined based on the expectation that
the insider shares would represent 20% of the outstanding shares after this offering (not including the shares to be issued to
the underwriter at closing or the shares underlying the private placement units). As such, our&nbsp;insiders will collectively
own 20% of our issued and outstanding shares after this offering. The 1,437,500 insider shares held or controlled by our insiders
include an aggregate of up to 187,500 shares subject to forfeiture to the extent that the underwriters&rsquo; over-allotment option
is not exercised in full or in part, so that our insiders will collectively own or control 20.0% of our issued and outstanding
shares after this offering.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">The insider shares are identical
to the shares of common stock included in the units being sold in this offering. However, our insiders have agreed (A) to vote
their insider shares, private shares and any public shares acquired in or after this offering in favor of any proposed business
combination, (B) not to propose, or vote in favor of, an amendment to our certificate of incorporation that would affect the substance
or timing of our obligation to redeem 100% of our public shares if we do not complete our initial business combination within 9
months from the closing of this offering (or 12 or 15 months, as applicable) 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, net of taxes payable, divided by the number of then outstanding public
shares, (C) not to convert any shares (including the insider shares) into the right to receive cash from the trust account in connection
with a stockholder vote to approve our proposed initial business combination (or sell any shares they hold to us in a tender offer
in connection with a proposed initial business combination) or a vote to amend the provisions of our certificate of incorporation
relating to the substance or timing of our obligation to redeem 100% of our public shares if we do not complete our initial business
combination within 9 months from the closing of this offering (or 12 or 15 months, as applicable), and (D) that the insider shares
shall not be entitled to be redeemed for a pro rata portion of the funds held in the trust account if a business combination is
not consummated.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">On the date of this prospectus,
the insider shares will be placed into an escrow account maintained in New York, New York by Continental Stock Transfer &amp;
Trust Company, acting as escrow agent. Subject to certain limited exceptions, 50% of these shares will not be transferred, assigned,
sold or released from escrow until the earlier of six months after the date of the consummation of our initial business combination
and the date on which the closing price of our common stock equals or exceeds $12.50 per share (as adjusted for stock splits, stock
dividends, reorganizations and recapitalizations) for any 20 trading days within any 30-trading day period commencing after our
initial business combination and the remaining 50% of the insider shares will not be transferred, assigned, sold or released from
escrow until six months after the date of the consummation of our initial business combination, or earlier, in either case, if,
subsequent to our initial business combination, we complete a liquidation, merger, stock exchange or other similar transaction
which results in all of our stockholders having the right to exchange their shares of common stock for cash, securities or other
property. The limited exceptions referred to above include (1) transfers among the insiders, to our officers, directors, advisors
and employees, (2) transfers to an insider&rsquo;s affiliates or its members upon its liquidation, (3) transfers to relatives and trusts
for estate planning purposes, (4) transfers by virtue of the laws of descent and distribution upon death, (5) transfers pursuant
to a qualified domestic relations order, (6) private sales made at prices no greater than the price at which the securities were
originally purchased or (7) transfers to us for cancellation in connection with the consummation of an initial business combination,
in each case (except for clause 7) where the transferee agrees to the terms of the escrow agreement and forfeiture, as the case
may be, as well as the other applicable restrictions and agreements of the holders of the insider shares.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">SPK Acquisition LLC has committed
to purchase from us an aggregate of 205,000 units, or &ldquo;private units,&rdquo; at $10.00 per private unit. These purchases will
take place on a private placement basis simultaneously with the consummation of this offering. All of the proceeds we receive from
this purchase will be placed in the trust account described below. SPK Acquisition LLC has also agreed that if the over-allotment
option is exercised by the underwriters, it will purchase from us up to a maximum of an additional 15,000 private units at a price
of $10.00 per private unit, so that at least $10.00 per share sold to the public in this offering is held in trust regardless of
whether the over-allotment option is exercised in full or part. These additional private units will be purchased in a private placement
that will occur simultaneously with the purchase of units resulting from the exercise of the over-allotment option. The proceeds
from the private placement of the private units will be added to the proceeds of this offering and placed in the same trust account
described in this prospectus maintained by Continental Stock Transfer &amp; Trust Company, as trustee.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify"></P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">The private units are identical
to the units sold as part of the public units in this offering. However, our&nbsp;insiders have agreed (A)&nbsp;to vote
their insider shares, private shares and any public shares purchased in or after this offering in favor of any proposed business
combination, (B)&nbsp;not to propose, or vote in favor of, prior to and unrelated to an initial business combination, an amendment
to our certificate of incorporation that would affect the substance or timing of the ability of public stockholders to exercise
redemption rights as described herein or of our redemption obligation to redeem all public shares if we cannot complete an initial
business combination within 9 months of the closing of this offering (or 12 or 15 months, as applicable), unless we provide public
stockholders an opportunity to redeem their public shares in conjunction with any such amendment, (C)&nbsp;not to redeem any shares,
including insider shares, private shares and any public shares purchased in or after this offering into the right to receive cash
from the trust account in connection with a stockholder vote to approve our proposed initial business combination or sell any
shares to us in any tender offer in connection with our proposed initial business combination, and (D)&nbsp;that the insider shares
and private shares shall not participate in any liquidating distribution upon winding up if a business combination is not consummated.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">If public units or shares are
purchased by any of our directors, officers or initial &nbsp;stockholders, they will be entitled to funds from the trust
account to the same extent as any public&nbsp;stockholders upon our liquidation but will not have redemption rights related
thereto.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">Our executive offices are located
at Room 368, 302 Buwei, 211 Fute North Road, China (Shanghai) Pilot Free Trade Zone, 200131, and our telephone number is (86) 13439129879.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify"></P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: center"><B>The Offering</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">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;
beginning on page 21 of this prospectus.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
<TD STYLE="vertical-align: top; width: 30%; padding-left: 9pt; text-indent: -9pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Securities offered</B></FONT></TD>
<TD STYLE="vertical-align: bottom; width: 70%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5,000,000 Units, at $10.00 per unit, each unit consisting of one share of common stock&nbsp;and one right entitling the holder thereof to receive one- tenth (1/10) of a share of common stock upon consummation of our initial business combination, subject to adjustment as described in this prospectus.</FONT></TD></TR>
<TR>
<TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="vertical-align: bottom; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: -9pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Proposed Nasdaq symbols</B></FONT></TD>
<TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
anticipate the units, and the shares of common stock<U>&nbsp;</U>and rights once they begin separate trading, will be listed on
Nasdaq under the symbols &ldquo;SPKU&rdquo;, &ldquo;SPK&rdquo;, and &ldquo;SPKR&rdquo; respectively.</FONT></TD></TR>
<TR>
<TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="vertical-align: bottom; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: top; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Trading commencement and</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>separate trading of common</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>stock<U>&nbsp;</U>and rights</B></FONT></TD>
<TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The units will begin trading on or promptly after the date of this prospectus. Each of the common stock<U>&nbsp;</U>and rights may trade separately on the 90<SUP>th</SUP> day after the date of this prospectus unless Chardan Capital Markets, LLC determines that an earlier date is acceptable (based upon, among other things, its assessment of the relative strengths of the securities markets and small capitalization companies in general, and the trading pattern of, and demand for, our securities in particular). In no event will Chardan Capital Markets, LLC allow separate trading of the common stock<U>&nbsp;</U>and rights until we file an audited balance sheet reflecting our receipt of the gross proceeds at the closing of this offering. Once the shares of common stock<U>&nbsp;</U>and rights commence separate trading, holders will have the option to continue to hold units or separate their units into the component pieces. Holders will need to have their brokers contact our transfer agent in order to separate the units into shares of common stock<U>&nbsp;</U>and rights. We will file a Current Report on Form 8-K with the U.S. Securities and Exchange Commission, or the SEC, including an audited balance sheet, promptly following the closing of this offering, which is anticipated to take place three business days from the date the units commence trading. The audited balance sheet will reflect our receipt of the proceeds from the exercise of the over-allotment option if the over-allotment option is exercised on the date of this prospectus. If the over-allotment option is exercised after the date of this prospectus, we will file an amendment to the Form 8-K or a new Form 8-K to provide updated financial information to reflect the exercise of the over-allotment option. We will also include in the Form 8-K, or amendment thereto, or in a subsequent Form 8-K, information indicating if Chardan Capital Markets, LLC has allowed separate trading of the common stock<U>&nbsp;</U>and rights prior to the 90<SUP>th</SUP> day after the date of this prospectus.</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
<TD STYLE="vertical-align: top; width: 30%; padding: 0 0 0 10; text-indent: -10; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Units:</B></FONT></TD>
<TD STYLE="vertical-align: bottom; width: 70%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: top; padding: 0 0 0 10; line-height: 107%; text-indent: -10">&nbsp;</TD>
<TD STYLE="vertical-align: bottom; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: top; padding: 0 0 0 20pt; text-indent: -10; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Number outstanding before this offering</B></FONT></TD>
<TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">0 units</FONT></TD></TR>
<TR>
<TD STYLE="vertical-align: top; padding: 0 0 0 10; line-height: 107%; text-indent: -10">&nbsp;</TD>
<TD STYLE="vertical-align: bottom; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: top; padding: 0 0 0 20pt; text-indent: -10; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Number to be outstanding after</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>this offering and sale of</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>private units</B></FONT></TD>
<TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5,205,000 units<SUP>1</SUP></FONT></TD></TR>
<TR>
<TD STYLE="vertical-align: top; padding: 0 0 0 10; line-height: 107%; text-indent: -10">&nbsp;</TD>
<TD STYLE="vertical-align: bottom; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: top; padding: 0 0 0 10; text-indent: -10; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Shares of common stock:</B></FONT></TD>
<TD STYLE="vertical-align: bottom; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: top; padding: 0 0 0 10; line-height: 107%; text-indent: -10">&nbsp;</TD>
<TD STYLE="vertical-align: bottom; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: top; padding: 0 0 0 20pt; text-indent: -10; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Number outstanding before this</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>offering</B></FONT></TD>
<TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1,437,500 shares<SUP>2</SUP></FONT></TD></TR>
<TR>
<TD STYLE="vertical-align: top; padding: 0 0 0 10; line-height: 107%; text-indent: -10">&nbsp;</TD>
<TD STYLE="vertical-align: bottom; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: top; padding: 0 0 0 20pt; text-indent: -10; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Number to be outstanding after</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>this offering and sale of</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>private units</B></FONT></TD>
<TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6,480,000 shares<SUP>3</SUP></FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt">&nbsp;</P>

<HR ALIGN="LEFT" NOSHADE SIZE="1" STYLE="color: Black; width: 25%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="width: 96%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assumes the over-allotment option has not been exercised.</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
    number includes an aggregate of up to 187,500 shares of common stock held by our&nbsp;insiders that are subject to
    forfeiture if the over-allotment option is not fully exercised by the underwriters.</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assumes the over-allotment option has not been exercised and that 187,500 insider shares that are subject to forfeiture if the over-allotment option is not exercised by the underwriters in full have been forfeited, and 25,000 shares have been issued to the representative of the underwriters at the consummation of the initial public offering. If the over-allotment option is exercised in full, there will be a total of 7,436,250 shares of common stock issued and outstanding.</FONT></TD></TR>
</TABLE>
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<TR>
<TD STYLE="vertical-align: top; width: 30%; padding-left: 9pt; text-indent: -9pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Rights included as part of units:</B></FONT></TD>
<TD STYLE="vertical-align: bottom; width: 70%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="vertical-align: bottom; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: top; padding-left: 0.25in; text-indent: -9pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Number outstanding before this offering</B></FONT></TD>
<TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">0 rights</FONT></TD></TR>
<TR>
<TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="vertical-align: bottom; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: top; padding-left: 0.25in; text-indent: -9pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Number to be outstanding after this offering and sale of private units</B></FONT></TD>
<TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5,205,000 rights<SUP>4</SUP></FONT></TD></TR>
</TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 30%; padding-left: 9pt; text-indent: -9pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Terms of Rights:</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 70%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Except in cases where we are not the surviving company in a business combination, each holder of a public right will automatically receive one-tenth (1/10) of a share of common stock upon consummation of our initial business combination. In the event we will not be the surviving company upon completion of our initial business combination, each holder of a right will be required to affirmatively convert his, her or its rights in order to receive the one-tenth (1/10) of a share underlying each right upon consummation of the business combination. We will not issue fractional shares in connection with an exchange of rights. Fractional shares will either be rounded down to the nearest whole share or otherwise addressed in accordance with the applicable provisions of the Delaware General Corporation Law. As a result, you must hold rights in multiples of 10 in order to receive shares for all of your rights upon closing of a business combination. If we are unable to complete an initial business combination within the required time period and we redeem the public shares for the funds held in the trust account, holders of rights will not receive any of such funds for their rights and the rights will expire worthless.&nbsp;</FONT></TD></TR>
</TABLE>
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<TD STYLE="width: 30%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Offering proceeds to be held in trust:</B></FONT></TD>
<TD STYLE="width: 70%">$50,000,000 of the net proceeds of this offering and the private placement (or $ 57,500,000 if the over-allotment option is exercised in full), or $10.00 per unit sold to the public in this offering (regardless of whether or not the over-allotment option is exercised in full or part) will be placed in a trust account at JPMorgan Chase Bank, maintained by Continental Stock Transfer &amp; Trust Company, acting as trustee pursuant to an agreement to be signed on the date of this prospectus. $550,000 of net proceeds of this offering will not be held in the trust account.<BR>
<BR>
Except as set forth below, the proceeds in the trust account will not be released until the earlier of: (1)&nbsp;the completion of an initial business combination within the required time period and (2)&nbsp;our redemption of 100% of the outstanding public shares if we have not completed a business combination in the required time period. Therefore, unless and until our initial business combination is consummated, the proceeds held in the trust account will not be available for our use for any expenses related to this offering or expenses which we may incur related to the investigation and selection of a target business and the negotiation of an agreement to acquire a target business.</TD></TR>
</TABLE>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt"></P>

<HR ALIGN="LEFT" NOSHADE SIZE="1" STYLE="color: Black; width: 25%; margin-top: 3pt; margin-bottom: 3pt">
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4</FONT></TD>
    <TD STYLE="width: 96%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assumes the over-allotment option has not been exercised. If the over-allotment option is exercised in full, there will be a total of 5,970,000 rights issued and outstanding, including an aggregate of 220,000 rights underlying the private units.</FONT></TD></TR>
</TABLE>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 30%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 70%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notwithstanding
the foregoing, there can be released to us from the trust account any interest earned on the funds in the trust account that
we need to pay our income or other tax obligations. With this exception, expenses incurred by us may be paid prior to a
business combination only from the net proceeds of this offering not held in the trust account of approximately $550,000.
Additionally, in order to meet our working capital needs following the consummation of this offering if the funds not held in
the trust account are insufficient, our&nbsp;insiders or their affiliates 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 relevant insider&rsquo;s discretion, up to $1,500,000 of the notes may be converted upon consummation of our
business combination into private units at a price of $10.00 per unit (which, for example, would result in the holders being
issued units to acquire 150,000 shares of common stock and 150,000 rights if $1,500,000 of notes were so converted). If we do
not complete a business combination, the loans will only be repaid with funds not held in the trust account, to the extent
available.</FONT></TD></TR>
</TABLE>

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<TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%; width: 30%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Insider Shares</B></FONT></TD>
<TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 107%; width: 70%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
January 28, 2021, our sponsor purchased 1,437,500 insider shares for an aggregate purchase price of $25,000, or approximately
$0.017 per share. Our sponsor expects to transfer 4,000 insider shares to the three independent directors at the closing of this
offering. The per share purchase price of the insider shares was determined by dividing the amount of cash contributed to the
company by the aggregate number of insider shares issued. The number of insider shares issued was determined based on the expectation
that the insider shares would represent 20% of the outstanding shares after this offering (not including the shares to be issued
to the underwriter at closing or the shares underlying the private placement units). As such, our&nbsp;insiders will collectively
own 20% of our issued and outstanding shares after this offering. The 1,437,500 insider shares held or controlled by our insiders
include an aggregate of up to 187,500 shares subject to forfeiture to the extent that the underwriters&rsquo; over-allotment option
is not exercised in full or in part, so that our insiders will collectively own or control 20.0% of our issued and outstanding
shares after this offering (not including the private units and underlying shares and assuming our insiders do not purchase any
public units in this offering). The purchase price of the insider shares was determined by dividing the amount of cash contributed
to the company by the number of insider shares issued. If we increase or decrease the size of the offering pursuant to Rule 462(b)
under the Securities Act, we will effect a stock dividend or share contribution back to capital, as applicable, immediately prior
to the consummation of the offering in such amount as to maintain the ownership of our stockholders prior to this offering at
approximately 20.0% of the number of shares outstanding after this offering. Our insiders will collectively beneficially own approximately
20% of our issued and outstanding shares after this offering (not including the private units and underlying shares and assuming
our insiders do not purchase any public units in this offering). Up to 187,500 insider shares will be subject to forfeiture by
our insiders (and/or their permitted transferees) depending on the extent to which the underwriters&rsquo; over-allotment option
is exercised.</FONT></TD></TR>
</TABLE>


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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="vertical-align: top; width: 30%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 70%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The insider shares are identical to the shares of common stock included in the units being sold in this offering, except that:</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.3in; text-align: justify; line-height: 107%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;&nbsp;&nbsp; the insider shares are subject to certain transfer restrictions, as described in more detail below, and</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.3in; text-align: justify; line-height: 107%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679; &nbsp;our insiders have entered into letter agreements with us, pursuant to which they have agreed (i) to waive their conversion rights with respect to their insider shares and any public shares they purchase in connection with the completion of our initial business combination and (ii) to waive their redemption rights with respect to their insider shares if we fail to complete our initial business combination within 9 months from the closing of this offering (or 12 or 15 months, as applicable) (although they will be entitled to redemption rights with respect to any public shares they hold if we fail to complete our business combination within the prescribed time frame).</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.3in; text-align: justify; line-height: 107%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;&nbsp;&nbsp;If we submit our initial business combination to our public stockholders for a vote, our insiders have agreed to vote their insider shares, private shares and any public shares purchased during or after this offering in favor of our initial business combination.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="vertical-align: top; width: 30%; padding-left: 9pt; text-indent: -9pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Transfer restrictions on insider shares</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 70%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our insiders have agreed not to transfer, assign or sell any of the insider shares (except to certain permitted transferees) until, with respect to 50% of the insider shares, the earlier of six months after the date of the consummation of our initial business combination and the date on which the closing price of our common stock equals or exceeds $12.50 per share for any 20 trading days within a 30-trading day period following the consummation of our initial business combination and, with respect to the remaining 50% of the insider shares, six months after the date of the consummation of our initial business combination, or earlier in each case if, subsequent to our initial business combination, we complete a liquidation, merger, stock exchange or other similar transaction which results in all of our stockholders having the right to exchange their shares of common stock for cash, securities or other property. The insider shares will be held in escrow with Continental Stock Transfer &amp; Trust Company during the period in which they are subject to the transfer restrictions described above.</FONT></TD></TR>
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    <TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: -9pt; line-height: 107%; width: 30%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Private units</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 107%; width: 70%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SPK Acquisition LLC has committed to purchase from us an aggregate of 205,000 units, or &ldquo;private units,&rdquo; at $10.00 per private unit (for a total purchase price of $2,050,000). These purchases will take place on a private placement basis simultaneously with the consummation of this offering. All of the proceeds we receive from this purchase will be placed in the trust account described below. SPK Acquisition LLC has also agreed that if the over-allotment option is exercised by the underwriters, they will purchase from us up to a maximum of an additional 15,000 private units at a price of $10.00 per private unit, so that at least $10.00 per share sold to the public in this offering is held in trust regardless of whether the over-allotment option is exercised in full or part. The purchase price of the private units will be added to the proceeds from this offering to pay for the expenses of this offering and to be held in the trust account. If we do not complete our initial business combination within 9 months from the closing of this offering (or 12 or 15 months, as applicable), the proceeds of the sale of the private units will be used to fund the redemption of our public shares (subject to the&nbsp;requirements of applicable law) and the private units will be worthless.</FONT></TD></TR>
</TABLE>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="vertical-align: top; width: 30%; padding-left: 9pt; text-indent: -9pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Limited payments to insiders</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 70%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">There will be no fees, reimbursements or other cash payments paid to our insiders or any of the members of our management team prior to, or for any services they render in order to effectuate, the consummation of our initial business combination (regardless of the type of transaction that it is) other than:</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.3in; text-align: justify; line-height: 107%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679; &nbsp;repayment at the closing of this offering of non-interest bearing loans up to an aggregate amount of $200,000;</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.3in; text-align: justify; line-height: 107%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679; &nbsp;reimbursement of out-of-pocket expenses incurred by our insiders or any of their affiliates in connection with certain activities on our behalf, such as identifying and investigating possible business targets and business combinations; and</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-left: 0.3in; text-align: justify; line-height: 107%; text-indent: -0.15in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;&nbsp; repayment of loans which may be made by our insiders or any of their affiliates to finance transaction costs in connection with an initial business combination, the terms of which have not been determined.</FONT></TD></TR>
</TABLE>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 30%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 70%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">There is no limit on the amount of out-of-pocket expenses reimbursable by us; provided, however, that to the extent such expenses exceed the available proceeds not deposited in the trust account, such expenses would not be reimbursed by us unless we consummate an initial business combination. We have no policy which prohibits our insiders or any member of our management team from negotiating the reimbursement of such expenses by a target business. Our audit committee will review and approve all reimbursements and payments made to any insider or member of our management team, or our or their respective affiliates, and any reimbursements and payments made to members of our audit committee will be reviewed and approved by our board of directors, with any interested director abstaining from such review and approval.</FONT></TD></TR>
</TABLE>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
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<TD STYLE="vertical-align: top; width: 30%; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Potential
revisions to agreements with insiders</B></FONT></TD>
<TD STYLE="vertical-align: bottom; width: 70%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">We could seek to amend certain agreements made by our management team disclosed in this prospectus without the approval of stockholders, although we have no intention to do so. For example, restrictions on our executives relating to the voting of securities owned by them, the agreement of our management team to remain with us until the closing of a business combination, the obligation of our management team to not propose certain changes to our organizational documents or the obligation of the management team and its affiliates to not receive any compensation in connection with a business combination could be modified without obtaining stockholder approval. Although stockholders would not be given the opportunity to redeem their shares in connection with such changes, in no event would we be able to modify the redemption or liquidation rights of our stockholders without permitting our stockholders the right to redeem their shares in connection with any such change. We will not agree to any such changes unless we believed that such changes were in the best interests of our stockholders (for example, if such a modification were necessary to complete a business combination).</FONT></TD></TR>
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<TD STYLE="vertical-align: top; line-height: 107%; width: 30%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Stockholder approval of, or tender</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>offer in connection with, initial</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>business combination</B></FONT></TD>
<TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 107%; width: 70%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In connection with any proposed initial business combination, we will either (1)&nbsp;seek stockholder approval of such initial business combination at a meeting called for such purpose at which stockholders may seek to convert their shares into the right to receive cash from the trust account, regardless of whether they vote for or against the proposed business combination; or (2) provide our stockholders with the opportunity to sell 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 (net of taxes payable), in each case subject to the limitations described herein. The decision as to whether we will seek stockholder approval of our proposed business combination or 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. If we provide stockholders with the opportunity to sell their shares to us by means of a tender offer, we will file tender offer documents with the SEC which will contain substantially the same financial and other information about the initial business combination as is required under the SEC&rsquo;s proxy rules. If we seek stockholder approval of our initial business combination, we will consummate the business combination only if a majority of the outstanding shares of common stock voted are voted in favor of the business combination.</FONT></TD></TR>
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<TD STYLE="vertical-align: top; width: 30%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="vertical-align: bottom; width: 70%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In addition, we will not consummate our initial business combination if public stockholders exercise conversion rights in an amount that would cause our net tangible assets to be less than $5,000,001 (so that this offering is not subject to Rule 419 promulgated under the Securities Act) or if we do not satisfy any greater net tangible asset or cash requirement which may be contained in the 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 needed to satisfy cash conditions pursuant to the terms of the proposed business combination exceeds the aggregate amount of cash available to us (including any cash we may obtain from financing from third parties or our insiders or their affiliates, which may not be available on terms acceptable to us or at all), we will not complete the business combination (as we may be required to have a lesser number of shares converted). As a result, we may not be able to locate another suitable target within the applicable time period, if at all. However, if we seek stockholder approval of a business combination and if a significant number of public stockholders properly seek to convert their public shares in connection with a proposed business combination, we or our insiders or their affiliates could purchase some or all of such shares in the open market or in private transactions in order to seek to satisfy the cash conditions. 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. No funds from the trust account can be released from the trust account prior to the consummation of a business combination to make such purchases (although such purchases could be made using funds available to us after the closing of a business combination). 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. Notwithstanding the foregoing, we or our insiders and their affiliates will not make purchases of shares of common stock if the purchases would violate Sections 9(a)(2) or 10(b) of the Exchange Act or Regulation M, which are rules that prohibit manipulation of a company&rsquo;s stock, and we and they will comply with Rule 10b-18 under the Exchange Act in connection with any open-market purchases. If purchases cannot be made without violating applicable law, no such purchases will be made.</FONT></TD></TR>
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<TD STYLE="vertical-align: bottom; width: 70%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
insiders have agreed (A) to vote their insider shares, private shares and any public shares acquired in or after this offering
in favor of any proposed business combination, (B) not to propose, or vote in favor of, an amendment to our certificate of incorporation
that would affect the substance or timing of our obligation to redeem 100% of our public shares if we do not complete our initial
business combination within 9 months from the closing of this offering (or 12 or 15 months if we have extended the period of time
as described in this prospectus), 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 earned on the funds held in the trust account and not previously released to us to pay
our franchise and income taxes, divided by the number of then outstanding public shares, (C) not to convert any shares (including
the insider shares and private shares) into the right to receive cash from the trust account in connection with a stockholder
vote to approve our proposed initial business combination (or sell any shares they hold to us in a tender offer in connection
with a proposed initial business combination) or a vote to amend the provisions of our certificate of incorporation relating to
the substance or timing of our obligation to redeem 100% of our public shares if we do not complete our initial business combination
within 9 months from the closing of this offering (or 12 or 15 months if we have extended the period of time as described in this
prospectus) and (D) that the insider shares and private shares shall not be entitled to be redeemed for a pro rata portion of
the funds held in the trust account if a business combination is not consummated. Depending on how a business combination was
structured, any stockholder approval requirement could be satisfied by obtaining the approval of either (i) a majority of the
shares of our common stock that were voted at the meeting (assuming a quorum was present at the meeting), or (ii) a majority of
the outstanding shares of our common stock. Because our insiders will collectively beneficially own approximately 20.0% of our
issued and outstanding shares of common stock (not including the private units and underlying securities and assuming our insiders
do not purchase any units in this offering) upon consummation of this offering, a minimum of approximately 165,001 public shares,
or approximately 3.28% of the outstanding shares of our common stock (if the approval requirement was a majority of shares voted
and assuming that only a quorum was present at the meeting, that the over-allotment option is not exercised, and that the insiders&nbsp;do
not purchase any units in this offering or units or shares in the after-market), would need to be voted in favor of a business
combination in order for it to be approved.</FONT></TD></TR>
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    <TD STYLE="vertical-align: top; width: 30%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 70%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">None of our insiders, director nominees or their affiliates has committed to purchase units in this offering or any units or shares of common stock in the open market or in private transactions. However, if a significant number of stockholders vote, or indicate an intention to vote, against a proposed business combination, our insiders or their affiliates could make such purchases in the open market or in private transactions in order to influence the vote. Notwithstanding the foregoing, our insiders and their affiliates will not make purchases of shares of common stock if the purchases would violate Section 9(a)(2) or Rule 10b-5 of the Exchange Act.</FONT></TD></TR>
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<TD STYLE="vertical-align: top; width: 30%; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Conditions to completing our initial business combination</B></FONT></TD>
<TD STYLE="vertical-align: bottom; width: 70%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt 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. 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 value of the trust account (excluding any deferred underwriter&rsquo;s 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 we are no longer listed on Nasdaq, we will not be required to satisfy the 80% test.</FONT></TD></TR>
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<TD STYLE="vertical-align: bottom; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">If our board is not able to independently determine the fair market value of the target business or businesses, we may obtain an opinion from an independent investment banking or accounting firm as to the fair market value of the target business. 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 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. 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% test, provided that in the event that the business combination involves more than one target business, the 80% test will be based on the aggregate value of all of the target businesses.</FONT></TD></TR>
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<TD STYLE="vertical-align: top; padding-left: 9pt; text-indent: -9pt; line-height: 107%; width: 30%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Conversion rights</B></FONT></TD>
<TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 107%; width: 70%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In connection with any stockholder meeting called to approve a proposed initial business combination, each public stockholder will have the right, regardless of whether he, she or it is voting for or against such proposed business combination, to demand that we convert his, her or its public shares into a <I>pro rata</I> share of the trust account upon consummation of the business combination.</FONT></TD></TR>
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<TD STYLE="vertical-align: top; width: 30%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="vertical-align: bottom; width: 70%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">We may require public stockholders wishing to exercise conversion rights, whether they are a record holder or hold their shares in &ldquo;street name,&rdquo; to either tender the certificates they are seeking to convert to our transfer agent or to deliver the shares they are seeking to convert to the transfer agent electronically using Depository Trust Company&rsquo;s DWAC (Deposit/Withdrawal At Custodian) System, at the holder&rsquo;s option, at any time at or prior to the vote on the business combination. There is a nominal cost associated with this 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 $45 and it would be up to the broker whether or not to pass this cost on to the converting holder. However, this fee would be incurred regardless of whether or not we require holders to deliver their shares prior to the vote on the business combination in order to exercise conversion rights. This is because a holder would need to deliver shares to exercise conversion rights regardless of the timing of when such delivery must be effectuated. However, in the event we require stockholders to deliver their shares prior to the vote on the proposed business combination and the proposed business combination is not consummated, this may result in an increased cost to stockholders.</FONT></TD></TR>
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<TD STYLE="width: 30%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 70%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Under Delaware law, we may be required to give a minimum of only ten days&rsquo; notice for each general meeting. As a result, if we require public stockholders who wish to convert their shares of common stock into the right to receive a <I>pro rata</I> portion of the funds in the trust account to comply with the foregoing delivery requirements, holders may not have sufficient time to receive the notice and deliver their shares for conversion. Accordingly, investors may not be able to exercise their conversion rights and may be forced to retain our securities when they otherwise would not want to.</FONT></TD></TR>
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<TD STYLE="width: 30%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 70%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">If we require public stockholders who wish to convert their shares of common stock to comply with specific delivery requirements for conversion described above and such proposed business combination is not consummated, we will promptly return such certificates to the tendering public stockholders.</FONT></TD></TR>
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<TD STYLE="vertical-align: top; width: 30%; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Release of funds in trust account on closing of our initial business combination</B></FONT></TD>
<TD STYLE="vertical-align: bottom; width: 70%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt 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. We will use these funds to pay amounts due to any public stockholders who exercise their conversion rights as described above under &ldquo;&mdash; Conversion rights,&rdquo; to pay the underwriters their deferred underwriting commissions, to pay all or a portion of the consideration payable to the target or targets or owners of the target or targets 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 stock 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></TD></TR>
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<TD STYLE="vertical-align: top; width: 30%; padding: 0; text-indent: 0; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Liquidation if no business combination</B></FONT></TD>
<TD STYLE="vertical-align: bottom; width: 70%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
we are unable to complete our initial business combination within 9 months from the closing of this offering (or 15 months from
the closing of this offering if we have filed a proxy statement, registration statement or similar filing for an initial business
combination within 9 months from the closing of this offering but have not completed the initial business combination within such
9-month 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 100% of the outstanding public shares for a pro rata portion of the funds
held in the trust account, 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 holders of common stock and our board of directors,
dissolve and liquidate, subject (in the case of (ii) and (iii) above) to our obligations under Delaware law to provide for claims
of creditors and the requirements of other applicable law. However, if we anticipate that we may not be able to consummate our
initial business combination within 9 months and we have not filed a proxy statement, registration statement or similar filing
for an initial business combination by such date, our insiders or their affiliates may, but are not obligated to, extend the period
of time to consummate a business combination two times by an additional three months each time (for a total of up to 15 months
to complete a business combination), provided that, 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, the only way to extend the time available for us to consummate our initial business combination in the absence of
a proxy statement, registration statement or similar filing is for our insiders or their affiliates or designees, upon five days&rsquo;
advance notice prior to the applicable deadline, to deposit into the trust account $500,000, or $575,000 if the over-allotment
option is exercised in full ($0.10 per share in either case, or an aggregate of $1,000,000 (or $1,150,000 if the over-allotment
option is exercised in full)), on or prior to the date of the applicable deadline. In the event that they elected to extend the
time to complete a business combination and deposited the applicable amount of money into trust, the insiders would receive a
non-interest bearing, unsecured promissory note equal to the amount of any such deposit that will not be repaid in the event that
we are unable to close a business combination unless there are funds available outside the trust account to do so. Such notes
would either be paid upon consummation of our initial business combination, or, at the relevant insider&rsquo;s discretion, converted
upon consummation of our business combination into additional private units at a price of $10.00 per unit. Our&nbsp;stockholders
have approved the issuance of the private units upon conversion of such notes, to the extent the holder wishes to so convert
such notes at the time of the consummation of our initial business combination. In the event that we receive notice from our insiders
five days prior to the applicable deadline of their intent 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 insiders 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. To the extent
that some, but not all, of our insiders, decide to extend the period of time to consummate our initial business combination, such
insiders (or their affiliates or designees) may deposit the entire amount required.</FONT></TD></TR>
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<TD STYLE="vertical-align: bottom; width: 70%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In connection with our redemption of 100% of our outstanding public shares, each holder will receive an amount equal to (1) the number of public shares being converted by such public holder divided by the total number of public shares multiplied by (2) the amount then in the trust account (initially $10.00 per share), which includes the deferred underwriting commission, plus a pro rata portion of any interest earned on the funds held in the trust account and not previously released to us or necessary to pay our taxes (subject in each case to our obligations under Delaware law to provide for claims of creditors).</FONT></TD></TR>
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<TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%; width: 30%">&nbsp;</TD>
<TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 107%; width: 70%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The proceeds deposited in the trust account could, however, become subject to claims of our creditors that are in preference to the claims of our stockholders. We may not have funds sufficient to pay or provide for all creditors&rsquo; claims. Although we will seek to have all vendors, service providers (excluding our independent registered public accounting firm), prospective target businesses and 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. The underwriters will not execute agreements with us waiving such claims to the monies held in the trust account. 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 sponsor has 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 amounts 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, in each case less taxes payable, provided that such liability will not apply to any claims by a third-party who executed a waiver of any and all rights to seek access to the trust account nor will it apply 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 sponsor will not be responsible to the extent of any liability for such third-party claims. However, we have not asked our sponsor to reserve for such indemnification obligations, nor have we independently verified whether our sponsor has sufficient funds to satisfy its indemnity obligations and we believe that our sponsor&rsquo;s only assets are securities of our company. Therefore, we cannot assure you that our sponsor would be able to satisfy those obligations. None of our officers or directors will indemnify us for claims by third parties, including, without limitation, claims by vendors and prospective target businesses.</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
<TD STYLE="vertical-align: top; width: 30%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="vertical-align: bottom; width: 70%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt 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 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, in each case less taxes payable, and our sponsor asserts 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 sponsor to enforce its indemnification obligations. While we currently expect that our independent directors would take legal action on our behalf against our sponsor 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 less than $10.00 per share.</FONT></TD></TR>
<TR>
<TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="vertical-align: bottom; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt 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></TD></TR>
</TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt"></P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
<TD STYLE="vertical-align: top; width: 30%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="vertical-align: bottom; width: 70%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The holders of the insider shares and private units (and underlying securities) will not participate in any redemption distribution with respect to their insider shares and private units (and underlying securities), but may have any public shares redeemed upon liquidation.</FONT></TD></TR>
<TR>
<TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="vertical-align: bottom; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">If we are unable to conclude our initial business combination and we expend all of the net proceeds of this offering not deposited in the trust account, without taking into account any interest earned on the trust account, we expect that the initial per-share redemption price will be approximately $10.00.</FONT></TD></TR>
<TR>
<TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">We will pay the costs of any liquidation following the redemptions from our remaining assets outside of the trust account. If such funds are insufficient, our insiders have agreed to pay the funds necessary to complete such liquidation (currently anticipated to be no more than approximately $15,000) and have agreed not to seek repayment for such expenses.</FONT></TD></TR>
<TR>
<TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="vertical-align: bottom; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The underwriters have agreed to waive their rights to the deferred underwriting commissions held in the trust account in the event we do not consummate a business combination within 9 months from the closing of this offering (or 12 or 15 months, as applicable) and in such event, such amounts will be included with the funds held in the trust account that will be available to fund the redemption of our public shares.</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: center"><B>Risks</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">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 to offerings
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; beginning on page 22 of this prospectus. If any of the factors enumerated below
or in the section entitled &ldquo;Risk Factors&rdquo; occurs, our business, financial condition, liquidity, results of operations
and prospects could be materially and adversely affected. In that case, the market price of our securities could decline, and
you may lose some or all of your investment. Some of the more significant risks relating to this offering and an investment in
our units include:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify"></P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4%"></TD><TD STYLE="width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; width: 92%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Risks
                                         associated with our business</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt 0 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 8%"></TD><TD STYLE="width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">o</FONT></TD><TD STYLE="text-align: justify; width: 88%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Our
                                         search for a business combination, and any target business with which we ultimately consummate
                                         a business combination, may be materially adversely affected by the recent coronavirus
                                         (COVID-19) outbreak.</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Our
                                         public stockholders may not be afforded an opportunity to vote on our proposed initial
                                         business combination, which means we may complete our initial business combination even
                                         though a majority of our public stockholders do not support such a combination.</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>If
                                         third parties bring claims against us, the proceeds held in the trust account could be
                                         reduced and the per-share redemption price received by stockholders may be less than
                                         approximately $10.00.</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>We
                                         may be unable to obtain additional financing, if required, to complete our initial business
                                         combination or to fund the operations and growth of the target business, which could
                                         compel us to restructure or abandon a particular business combination.</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Our
                                         insiders paid an aggregate of $25,000, or approximately $0.017 per share, for the insider
                                         shares, and, accordingly, you will experience immediate and substantial dilution from
                                         the purchase of our shares of common stock.</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Holders
                                         of rights will not have redemption rights.</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>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. While we intend to closely scrutinize
                                         any individuals we engage after our initial business combination, our assessment of these
                                         individuals may not prove to be correct.</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">o</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Resources
                                         could be wasted in researching business combinations 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.</I></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4%"></TD><TD STYLE="width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify; padding-right: 5.05pt; width: 92%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Risks
                                         associated with acquiring and operating a business outside of the United States or with
                                         its primary operation in China</B></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 8%"></TD><TD STYLE="width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">o</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.7pt; width: 88%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>If
                                         we effect our initial business combination with a company located outside of the United
                                         States, we would be subject to a variety of additional risks that may negatively impact
                                         our operations, including any of the following:</I></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 12%"></TD><TD STYLE="width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9632;</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.7pt; width: 84%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>rules
                                         and regulations or currency conversion or corporate withholding taxes on individuals;</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify; padding-right: 4.7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9632;</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>tariffs
                                         and trade barriers;</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify; padding-right: 4.7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9632;</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>regulations
                                         related to customs and import/export matters;</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify; padding-right: 4.7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9632;</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>longer
                                         payment cycles;</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify; padding-right: 4.7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9632;</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>tax
                                         issues, such as tax law changes and variations in tax laws as compared to the United
                                         States;</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify; padding-right: 4.7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9632;</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>currency
                                         fluctuations and exchange controls;</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify; padding-right: 4.7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9632;</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>challenges
                                         in collecting accounts receivable;</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify; padding-right: 4.7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9632;</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>cultural
                                         and language differences;</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify; padding-right: 4.7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9632;</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>employment
                                         regulations;</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify; padding-right: 4.7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9632;</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>crime,
                                         strikes, riots, civil disturbances, terrorist attacks and wars; </I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify; padding-right: 4.7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9632;</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>deterioration
                                         of political relations with the United States; and</I></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify; padding-right: 4.7pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9632;</FONT></TD><TD STYLE="text-align: justify; padding-right: 4.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>alternative
                                         structures to comply with regulations in certain Chinese industries. </I></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt 0 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><I>We may not
be able to adequately address these additional risks. If we are unable to do so, our operations may suffer.</I>&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify"></P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: center"><B><A NAME="a_002"></A>SUMMARY FINANCIAL DATA</B>&nbsp;&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">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, and accordingly only balance sheet data is presented.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify"></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 STYLE="text-align: center">&nbsp;</TD>
<TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
<TD COLSPAN="7" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">February 10, 2021</TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="text-align: center">&nbsp;</TD>
<TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
<TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Actual</TD>
<TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
<TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">As Adjusted</TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="text-align: left">Balance Sheet Data:</TD>
<TD STYLE="font-weight: bold">&nbsp;</TD>
<TD COLSPAN="3" STYLE="font-weight: bold; text-align: center">(Unaudited)</TD>
<TD>&nbsp;</TD>
<TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="width: 56%; text-align: left">Working capital (deficiency)<SUP>(1)</SUP></TD>
<TD STYLE="width: 8%">&nbsp;</TD>
<TD STYLE="width: 1%; text-align: left">$</TD>
<TD STYLE="width: 12%; text-align: right">(63,125</TD>
<TD STYLE="width: 1%; text-align: left">)</TD>
<TD STYLE="width: 8%">&nbsp;</TD>
<TD STYLE="width: 1%; text-align: left">$</TD>
<TD STYLE="width: 12%; text-align: right">49,074,375</TD>
<TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total assets<SUP>(2)</SUP></FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">$</TD>
<TD STYLE="text-align: right">250,000</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">$</TD>
<TD STYLE="text-align: right">50,574,375</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total liabilities<SUP>(3)</SUP></FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">$</TD>
<TD STYLE="text-align: right">225,625</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">$</TD>
<TD STYLE="text-align: right">1,500,000</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Value of common stock
subject to possible conversion/tender<SUP>(4)</SUP></FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&mdash;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">$</TD>
<TD STYLE="text-align: right">44,074,370</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shareholders&rsquo;
</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">equity<SUP>(5)</SUP></FONT></TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">$</TD>
<TD STYLE="text-align: right">24,375</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">$</TD>
<TD STYLE="text-align: right">5,000,005</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<HR ALIGN="LEFT" NOSHADE SIZE="1" STYLE="color: Black; width: 25%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 4%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(1)</FONT></TD>
<TD STYLE="width: 96%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
&ldquo;as adjusted&rdquo; calculation assumes no exercise of the over-allotment option and includes $50,000,000 cash held in trust
from the proceeds of this offering and the sale of the private placement units, plus $550,000 of proceeds from the offering held
outside the trust, plus $0 from the issuance of the representative shares, plus $24,375 of actual stockholders&rsquo; equity
on February 10, 2021, less $1,500,000 of deferred underwriting commission.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(2)</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
&ldquo;as adjusted&rdquo; calculation assumes no exercise of the over-allotment option and includes $50,000,000 cash held in trust
from the proceeds of this offering and the sale of the private placement units, plus $550,000 of proceeds from the offering held
outside the trust, plus $0 from the issuance of the representative shares, plus $24,375 of actual stockholders&rsquo; equity
on February 10, 2021.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(3)</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT>

<P STYLE="font: 10pt/106% Times New Roman, Times, Serif; margin: 0; text-align: justify">The &ldquo;as adjusted&rdquo; liabilities
represent up to $1,500,000 of deferred underwriting commissions.</P>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(4)</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 asset threshold of at least $5,000,001.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">(5)</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><P STYLE="margin: 0; font: 10pt/107% Times New Roman, Times, Serif">Assuming
                                         no exercise of the over-allotment option, the &ldquo;as adjusted&rdquo; calculation equals
                                         total the &ldquo;as adjusted&rdquo; total assets, less the &ldquo;as adjusted&rdquo;
                                         total liabilities, less the value of the shares of common stock that may be redeemed
                                         in connection with our initial business combination ($10.00 per share).</P></TD></TR>
</TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">The &ldquo;as adjusted&rdquo; information
gives effect to the sale of the units we are offering and the sale of the private units, including the application of the related
gross proceeds and the payment of the estimated remaining costs from such sale and the repayment of the promissory note payable
to the sponsor and accrued liabilities required to be repaid.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">The &ldquo;as adjusted&rdquo;
total assets amount $50,000,000 to be held in the trust account if the underwriter&rsquo;s over-allotment option is not exercised
<FONT STYLE="font-family: Times New Roman PS Std,serif">will be available to us only upon the consummation of a business combination
within the time period described in this prospectus.</FONT></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">If our initial business combination
is not consummated within 9 months (or up to 15 months from the closing of this offering if we extend the time period 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, less amounts we are permitted to withdraw as described in this prospectus, will be distributed solely
to our public&nbsp;stockholders (subject to our obligations under Delaware law to provide for claims of creditors).</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify"></P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>An investment in our securities involves
a high degree of risk. You should consider carefully all of the risks described below, which we believe represent the material
risks related to the offering, 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. This
prospectus also contains forward-looking statements that involve risks and uncertainties. Our actual results could differ materially
from those anticipated in the forward-looking statements as a result of specific factors, including the risks described below.</I></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>RISKS ASSOCIATED WITH OUR BUSINESS</B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We are a newly formed early stage
company with no operating history and, accordingly, you have no basis on which to evaluate our ability to achieve our business
objective.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We are a newly formed early stage 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, which is to complete
our initial business combination with one or more target businesses. We have not engaged in any substantive discussions and we
have no plans, arrangements or understandings with any prospective target business concerning a business combination and may be
unable to complete our business combination. If we fail to complete our business combination, we will never generate any operating
revenues.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">As of February10, 2021, we had $162,500
in cash and a working capital deficit of $63,125. &nbsp;&nbsp;Further, we have incurred and expect to continue to incur significant
costs in pursuit of our finance and 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; We cannot assure you that our plans to raise capital or to consummate an initial business combination will
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.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We will have until 9 months from the
closing of this offering (or 12 or 15 months if we have extended the period of time as described in this prospectus) to consummate
our initial business combination. We have no obligation to return funds to investors prior to such date unless we consummate our
initial business combination prior thereto and only then in cases where investors have sought to convert their shares. Only after
the expiration of this full time period will holders of our common stock be entitled to distributions from the trust account if
we are unable to complete our initial business combination. Accordingly, investors&rsquo; funds may be unavailable to them until after
such date and to liquidate your investment, public security holders may be forced to sell their public shares, potentially at a
loss.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Our public stockholders may not
be afforded an opportunity to vote on our proposed business combination.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We will either (1) seek stockholder
approval of our initial business combination at a meeting called for such purpose at which public stockholders may seek to convert
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 (net of taxes payable), or (2) provide our public stockholders with the opportunity
to sell 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, in each case subject to the limitations described
elsewhere in this prospectus. Accordingly, it is possible that we will consummate our initial business combination even if holders
of a majority of our public shares do not approve of the business combination. 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. For instance, 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 instead of conducting a tender offer.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>You will not be entitled to protections
normally afforded to investors of blank check companies.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Since the net proceeds of this offering
are intended to be used to complete our 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, since we will have net tangible
assets in excess of $5,000,001 upon the successful consummation of this offering 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 of blank
check companies such as Rule 419. Accordingly, investors will not be afforded the benefits or protections of those rules which
would, for example, completely restrict the transferability of our securities, require us to complete our initial business combination
within 9 months (or 12 or 15 months if we have extended the period of time as described in this prospectus) of the effective date
of the initial registration statement and restrict the use of interest earned on the funds held in the trust account. Because we
are not subject to Rule 419, our units will be immediately tradable, we will be entitled to withdraw amounts from the funds held
in the trust account prior to the completion of our initial business combination and we may have a longer period of time to complete
such a business combination than we would if we were subject to such rule.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>If we determine to amend certain
agreements made by our management team, many of the disclosures contained in this prospectus regarding those agreements would no
longer apply.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We could seek to amend certain agreements
with our management team disclosed in this prospectus without the approval of our stockholders, although we have no current intention
to do so. For example, restrictions on our executives relating to the voting of securities owned by them, the agreement of our
management team to remain with us until the closing of a business combination, the obligation of our management team to not propose
certain changes to our organizational documents or the obligation of the management team and its affiliates to not receive any
compensation in connection with a business combination could be modified without obtaining stockholder approval. Although stockholders
would not be given the opportunity to redeem their shares in connection with such changes, in no event would we be able to modify
the redemption or liquidation rights of our stockholders without permitting our stockholders the right to redeem their shares in
connection with any such change. We will not agree to any such changes unless we believed that such changes were in the best interests
of our stockholders (for example, if such a modification were necessary to complete a business combination).</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>If we deviate from the acquisition
criteria or guidelines set forth in this prospectus, investors in this offering may have rescission rights or may bring an action
for damages against us or we could be subject to civil or criminal actions taken by governmental authorities.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">If we were to elect to deviate from
the acquisition criteria or guidelines set forth in this prospectus, each person who purchased units in this offering and still
held such securities upon learning of the facts relating to the deviation may seek rescission of the purchase of the units he or
she acquired in the offering (under which a successful claimant has the right to receive the total amount paid for his or her securities
pursuant to an allegedly deficient prospectus, plus interest and less any income earned on the securities, in exchange for surrender
of the securities) or bring an action for damages against us (compensation for loss on an investment caused by alleged material
misrepresentations or omissions in the sale of a security). In such event, we could also be subject to civil or criminal actions
taken by governmental authorities. For instance, the SEC can seek injunctions under Section 20(b) of the Securities Act if it believes
a violation under the Securities Act has occurred or is imminent. The SEC can also seek civil penalties under Sections 20(d) and
24 if a party has violated the Securities Act or an injunctive action taken by the SEC or if a party willfully, in a registration
statement filed under the Securities Act, makes any untrue statement of a material fact or omits to state any material fact required
to be stated therein or necessary to make the statements therein not misleading. Furthermore, Section 20 allows the SEC to refer
matters to the attorney general to bring criminal penalties against an issuer.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We may issue shares of our capital
stock to complete our initial business combination, which would reduce the equity interest of our stockholders and likely cause
a change in control of our ownership.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Our amended certificate of incorporation
will authorize the issuance of up to 10,000,000 shares of common stock, par value $0.0001 per share. Immediately after this offering
and the purchase of the private units (assuming no exercise of the underwriters&rsquo; over-allotment option), there will be approximately
2,999,500 authorized but unissued shares of common stock available for issuance (after appropriate reservation for the issuance
of the shares underlying the public rights, private units, and shares payable to the underwriter). Although we have no commitment
as of the date of this offering, we may issue a substantial number of additional shares of common stock to complete our initial
business combination. The issuance of additional shares of common stock:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="width: 94%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">may significantly reduce the equity interest of investors in this offering;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">may subordinate the rights of holders of shares of common stock if we issue shares of preferred stock with rights senior to those afforded to our shares of common stock;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">may cause a change in control if a substantial number of shares of 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; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">may adversely affect prevailing market prices for our shares of common stock.</FONT></TD></TR>
</TABLE>

<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"></P>

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<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-align: justify"><B><I>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.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">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, we may choose
to incur substantial debt to complete our business combination. However, the incurrence of debt could have a variety of negative
effects, including:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="width: 94%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">default and foreclosure on our assets if our operating revenues after our initial business combination are insufficient to repay our debt obligations;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt 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>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt 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>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt 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; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt 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/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We may be limited to the funds
held outside of the trust account to fund our search for target businesses, to pay our tax obligations and to complete our initial
business combination.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Of the net proceeds of this offering,
$550,000 is anticipated to be available to us initially outside the trust account to fund our working capital requirements. Especially
if the over-allotment option is exercised in full, we may not have sufficient funds available with which to structure, negotiate
or close our initial business combination. In such event, we would need to borrow funds from our insiders to operate or may be
forced to liquidate. Our insiders are under no obligation to loan us any funds. If we are unable to obtain the funds necessary,
we may be forced to cease searching for a target business and may be unable to complete our initial business combination.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We may not have sufficient working
capital to cover our operating expenses.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Following the consummation of this offering,
the amounts available to us to pay our operating expenses will consist only of the approximately $550,000 initially held outside
of the trust account. Therefore, if our expenses exceed our estimates, we will not have sufficient funds outside the trust account
to cover our expenses. In such event, we would need to borrow funds from our insiders or from third parties to continue to operate.
However, our insiders and third parties are under no obligation to loan us any funds. If we are unable to obtain the necessary
funds, we may be forced to cease searching for a target business and liquidate without completing our initial business combination.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Reimbursement of out-of-pocket
expenses incurred by our insiders or any of their affiliates in connection with certain activities on our behalf, such as identifying
and investigating possible business targets and business combinations, could reduce the funds available to us to consummate a business
combination. In addition, an indemnification claim by one or more of our officers and directors in the event that any of them are
sued in their capacity as an officer or director could also reduce the funds available to us outside of the trust account.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We may reimburse our insiders or any
of their affiliates for out-of-pocket expenses incurred in connection with certain activities on our behalf, such as identifying
and investigating possible business targets and business combinations. There is no limit on the amount of out-of-pocket expenses
reimbursable by us; provided that, to the extent such expenses exceed the available proceeds not deposited in the trust account,
such expenses would not be reimbursed by us unless we consummate an initial business combination. In addition, pursuant to our
certificate of incorporation and Delaware law, we may be required to indemnify our officers and directors in the event that any
of them are sued in their capacity as an officer or director. We will also enter into agreements with our officers and directors
to provide contractual indemnification in addition to the indemnification provided for in our certificate of incorporation and
under Delaware law. In the event that we reimburse our insiders or any of their affiliates for out-of-pocket expenses prior to
the consummation of a business combination or are required to indemnify any of our officers or directors pursuant to our certificate
of incorporation, Delaware law, or the indemnity agreements that we will enter into with them, we would use funds available to
us outside of the trust account for our working capital requirements. Any reduction in the funds available to us could have a material
adverse effect on our ability to locate and investigate prospective target businesses and to structure, negotiate, conduct due
diligence in connection with or consummate our initial business combination.</P>

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

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>If third parties bring claims
against us, the proceeds held in the trust account could be reduced and the per-share redemption price received by stockholders
may be less than approximately $10.00.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">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 (excluding
our independent registered public accounting firm), prospective target businesses and 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.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">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 consummate an initial business combination within 9 months from the closing of this offering
(or 12 or 15 months if we have extended the period of time as described in this prospectus), or upon the exercise of a redemption
right in connection with our initial 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 public share initially held in the trust account, due
to claims of such creditors. Pursuant to the letter agreement the form of which is filed as an exhibit to the registration statement
of which this prospectus forms a part, our sponsor has agreed that it will be liable to us if and to the extent any claims by a
third-party (excluding our independent registered public accounting firm) 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 amounts in the trust account to
below the lesser of (i) $10.00 per public share and (ii) the actual amount per 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, in each
case less taxes payable, provided that such liability will not apply to any claims by a third-party who executed a waiver of any
and all rights to seek access to the trust account nor will it apply to any claims under our 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 sponsor will not be responsible to the extent of any liability for such
third-party claims. However, we have not asked our sponsor to reserve for such indemnification obligations, nor have we independently
verified whether our sponsor has sufficient funds to satisfy its indemnity obligations and we believe that our sponsor&rsquo;s only assets
are securities of our company. Therefore, we cannot assure you that our sponsor would be able to satisfy those obligations. None
of our officers or directors will indemnify us for claims by third parties, including, without limitation, claims by vendors and
prospective target businesses.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">In the event that the proceeds in the
trust account are reduced below the lesser of (i) $10.00 per share and (ii) the actual amount per 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, in each case less taxes payable, and our sponsor asserts 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 sponsor to enforce its indemnification obligations. While we currently expect that our independent directors would
take legal action on our behalf against our sponsor to enforce its indemnification obligations to us, it is possible that our
independent directors in exercising their business judgment and subject to their fiduciary duties 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.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Our stockholders may be held liable
for claims by third parties against us to the extent of distributions received by them.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">If we have not completed our initial
business combination within 9 months from the closing of this offering (or 12 or 15months if we have extended the period of time
as described 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 100% of the outstanding public shares for a pro rata portion of
the funds held in the trust account, 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 holders of common stock and our board of directors,
dissolve and liquidate, subject (in the case of (ii) and (iii) above) to our obligations under Delaware law to provide for claims
of creditors and the requirements of other applicable law. We may not 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 well beyond the third anniversary of the date of distribution. Accordingly,
third parties may seek to recover from our stockholders amounts owed to them by us.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>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.</I></B></P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>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.</I></B></P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Holders of rights will not have
redemption rights.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">If we are unable to complete an initial
business combination within the required time period and we redeem the funds held in the trust account, the rights will expire
and holders will not receive any of the amounts held in the trust account in exchange for such rights.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Since we have not yet selected
a particular industry or target business with which to complete our initial business combination, we are unable to currently ascertain
the merits or risks of the industry or business in which we may ultimately operate.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Although we intend to focus our search
on target businesses operating in Asia, we may consummate our initial business combination with a target business in any industry
or geographic region we choose and are not limited to any particular industry, type of business or geographic region. Accordingly,
there is no current basis for you to evaluate the possible merits or risks of the particular industry in which we may ultimately
operate or the target business which we may ultimately consummate our initial business combination. To the extent we complete
our initial business combination with a financially unstable company or an entity in its development stage, we may be affected
by numerous risks inherent in the business operations of those entities. If we complete our initial business combination with
an entity in an industry characterized by a high level of risk, we may be affected by the currently unascertainable risks of that
industry. We may not properly ascertain or assess all of the significant risk factors. An investment in our shares may not ultimately
prove to be more favorable to investors in this offering than a direct investment, if an opportunity were available, in a target
business.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>The requirement that our initial
business combination occur with one or more target businesses having an aggregate fair market value equal to at least 80% of the
value of the trust account at the time of the execution of a definitive agreement for our initial business combination may limit
the type and number of companies that we may complete such a business combination with.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to the Nasdaq listing rules,
our initial business combination must occur with one or more target businesses having an aggregate fair market value equal to at
least 80% of the value of the trust account (excluding any deferred underwriter&rsquo;s fees and taxes payable on the income earned on
the trust account) at the time of the execution of a definitive agreement for our initial business combination. This restriction
may limit the type and number of companies that we may complete a business combination with. If we are unable to locate a target
business or businesses that satisfy this fair market value test, we may be forced to liquidate and you will only be entitled to
receive your pro rata portion of the funds in the trust account. If we are no longer listed on Nasdaq, we will not be required
to satisfy the 80% test.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>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.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We may structure our initial business
combination such that the post-transaction company owns 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, but we will only complete such business
combination if the post-transaction company owns 50% or more of the outstanding voting securities of the target or otherwise owns
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 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. 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.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>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. While we intend to closely scrutinize any individuals we engage
after our initial business combination, our assessment of these individuals may not prove to be correct.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Our ability to successfully effect our
initial business combination is dependent upon the efforts of our key personnel. We believe that our success depends on the continued
service of our key personnel, at least until we have consummated our initial business combination. None of our officers are required
to commit any specified amount of time to our affairs (although we expect them to devote approximately 10 hours per week to our
business) and, accordingly, they will have conflicts of interest in allocating management time among various business activities,
including identifying potential business combinations and monitoring the related due diligence. If our officers&rsquo; and directors&rsquo;
other business affairs require them to devote more substantial amounts of time to their other business activities, it could limit
their ability to devote time to our affairs and could have a negative impact on our ability to consummate our initial business
combination. In addition, we do not have employment agreements with, or key-man insurance on the life of, any of our officers.
The unexpected loss of the services of our key personnel could have a detrimental effect on us.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The role of our key personnel after
our initial business combination, however, remains to be determined. Although some of our key personnel serve in senior management
or advisory positions following our initial business combination, it is likely that most, if not all, of the management of the
target business will remain in place. These individuals may be unfamiliar with the requirements of operating a public company,
which could cause us to have to expend time and resources helping them become familiar with such requirements. This could be expensive
and time-consuming and could lead to various regulatory issues which may adversely affect our operations.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Our officers and directors may
not have significant experience or knowledge regarding the jurisdiction or industry of the target business we may seek to consummate
our initial business combination with.</I></B></P>

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

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



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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We may consummate a business combination
with a target business in any geographic location or industry we choose&nbsp;although we intend to focus on the Asia TMT sector.
Our officers and directors may not have enough experience or sufficient knowledge relating to the jurisdiction of the target or
its industry to make an informed decision regarding our initial business combination.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>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.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Our key personnel may be able to remain
with the company after the completion of our 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.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Our insiders and their affiliates
may be owed reimbursement for out-of-pocket expenses which may cause them to have conflicts of interest in determining whether
a particular business combination is most advantageous.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Our insiders and their affiliates may
incur out-of-pocket expenses in connection with certain activities on our behalf, such as identifying and investigating possible
business targets and combinations. We have no policy that would prohibit these individuals and their affiliates from negotiating
the reimbursement of such expenses by a target business. As a result, the personal and financial interests of such individuals
may influence their motivation in identifying and selecting a target business.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Members of our management team
may have affiliations with entities engaged in business activities similar to those intended to be conducted by us and, accordingly,
may have conflicts of interest in determining to which entity a particular business opportunity should be presented.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Members of our management team may
have affiliations with companies, including companies that are engaged in business activities similar to those intended to be
conducted by us. Our directors and officers may continue to&nbsp;be involved in the formation of other special purpose
acquisition companies in the future. Accordingly, they may participate in transactions and have obligations that may be in conflict
or competition with our consummation of our initial business combination. As a result, a potential target business may be presented
by our management team to another entity prior to its presentation to us and we may not be afforded the opportunity to engage
in a transaction with such target business. For a more detailed description of the potential conflicts of interest of our management,
see the section titled &ldquo;Management &mdash; Conflicts of Interest.&rdquo;</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">In light of the involvement of our insiders
and director nominees with other entities, we may decide to acquire one or more businesses affiliated with our insiders and director
nominees. Our directors and director nominees also serve as officers and board members for other entities, including, without limitation,
those described under &ldquo;Management &mdash; Conflicts of Interest.&rdquo; Our insiders and director nominees are not currently
aware of any specific opportunities for us to complete our 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
&mdash; Effecting Our Initial Business Combination,&rdquo; such transaction was approved by a majority of our disinterested and independent directors (if we have any at
that time), and we obtain an opinion from an independent investment banking firm that the business combination is fair to our unaffiliated
stockholders from a financial point of view. Despite our agreement to obtain an opinion from an independent investment banking
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 insiders, 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.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>The shares beneficially owned
by our insiders, including our officers and directors, will not participate in a redemption and, therefore, our insiders may have
a conflict of interest in determining whether a particular target business is appropriate for our initial business combination.</I></B></P>

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



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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Our insiders, including our officers
and directors, have waived their right to convert their insider shares and private shares in connection with a business combination
and their redemption rights with respect to their insider shares and private shares if we are unable to consummate our initial
business combination. Accordingly, these securities will be worthless if we do not consummate our initial business combination.
The personal and financial interests of our directors and officers may influence their motivation in timely identifying and selecting
a target business and completing a business combination. Consequently, our directors&rsquo; and officers&rsquo; discretion in identifying and
selecting a suitable target business may result in a conflict of interest when determining whether the terms, conditions and timing
of a particular business combination are appropriate and in our stockholders&rsquo; best interest.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>If we are unable to consummate
a business combination, any loans made by our insiders, including our officers and directors, or their affiliates would not be
repaid, resulting in a potential conflict of interest in determining whether a potential transaction is in our stockholders&rsquo; best
interest.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">In order to meet our working capital
needs following the consummation of this offering, our insiders, including our officers and directors, or their affiliates 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. The loans would be non-interest bearing and would be payable at the consummation of a business combination. If we fail
to consummate a business combination within the required time period, the loans would not be repaid. Consequently, our directors
and officers may have a conflict of interest in determining whether the terms, conditions and timing of a particular business combination
are appropriate and in our stockholders&rsquo; best interest.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We anticipate that our securities will
be listed on Nasdaq, a national securities exchange, upon consummation of this offering. 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. Generally, we must maintain a minimum amount in stockholders&rsquo; equity (generally
$5.0 million) and a minimum number of holders of our securities (generally 300 public holders). 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 and our stockholders&rsquo; equity
would generally be required to be at least $5.0 million. We cannot assure you that we will be able to meet those initial listing
requirements at that time.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">If Nasdaq delists our securities from
trading on its exchange, we could face significant material adverse consequences, including:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="width: 94%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">a limited availability of market quotations for our securities;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">reduced liquidity with respect to our securities;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">a determination that our shares are a &ldquo;penny stock,&rdquo; which will require brokers trading in our shares to adhere to more stringent rules, possibly resulting in a reduced level of trading activity in the secondary trading market for our shares;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">a limited amount of news and analyst coverage for our company; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt 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/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We may only be able to complete
one business combination with the proceeds of this offering, which will cause us to be solely dependent on a single business which
may have a limited number of products or services.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">It is likely we will consummate our
initial business combination with a single target business, although we have the ability to simultaneously consummate our initial
business combination with several target businesses. By consummating a business combination with only a single entity, our lack
of diversification may subject us to numerous economic, competitive and regulatory developments. 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:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="width: 94%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">solely dependent upon the performance of a single business, or</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt 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/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>



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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">This lack of diversification may subject
us to numerous economic, competitive and regulatory developments, 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.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Alternatively, if we determine to simultaneously
consummate our initial business combination with several businesses and such businesses 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 the 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 target 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.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>The ability of our public stockholders
to exercise their conversion rights may not allow us to effectuate the most desirable business combination or optimize our capital
structure.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">If our initial business combination
requires us to use substantially all of our cash to pay the purchase price, because we will not know how many public stockholders
may exercise conversion rights, we may either need to reserve part of the trust account for possible payment upon such conversion,
or we may need to arrange third-party financing to help fund our initial business combination. In the event that the business combination
involves the issuance of our stock as consideration, we may be required to issue a higher percentage of our stock to make up for
a shortfall in funds. Raising additional funds to cover any shortfall may involve dilutive equity financing or incurring indebtedness
at higher than desirable levels. This may limit our ability to effectuate the most attractive business combination available to
us.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We may be unable to consummate
an initial business combination if a target business requires that we have a certain amount of cash at closing, in which case public
stockholders may have to remain stockholders of our company and wait until our redemption of the public shares to receive a pro
rata share of the trust account or attempt to sell their shares in the open market.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">A potential target may make it a closing
condition to our initial business combination that we have a certain amount of cash in excess of the $5,000,001 of net tangible
assets we are required to have pursuant to our organizational documents available at the time of closing. If the number of our
public stockholders electing to exercise their conversion rights has the effect of reducing the amount of money available to us
to consummate an initial business combination below such minimum amount required by the target business and we are not able to
locate an alternative source of funding, we will not be able to consummate such initial business combination and we may not be
able to locate another suitable target within the applicable time period, if at all. In that case, public stockholders may have
to remain stockholders of our company and wait the full 9 months (or 12 or 15 months if we have extended the period of time to
complete a business combination as described in this prospectus) in order to be able to receive a portion of the trust account,
or attempt to sell their shares in the open market prior to such time, in which case they may receive less than they would have
in a liquidation of the trust account.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Public stockholders, together
with any affiliates of theirs or any other person with whom they are acting in concert or as a &ldquo;group,&rdquo; will be restricted
from seeking conversion rights with respect to more than 20% of the shares of common stock sold in this offering.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">In connection with any meeting held
to approve an initial business combination, we will offer each public stockholder (but not our insiders) the right to have his,
her, or its shares of common stock converted into cash. Notwithstanding the foregoing, a public stockholder, together with any
affiliate of his or hers or any other person with whom he or she is acting in concert or as a &ldquo;group,&rdquo; will be restricted
from seeking conversion rights with respect to more than 20% of the shares of common stock sold in this offering. Generally, in
this context, a stockholder will be deemed to be acting in concert or as a group with another stockholder when such stockholders
agree to act together for the purpose of acquiring, voting, holding or disposing of our equity securities. Accordingly, if you
purchase more than 20% of the shares of common stock sold in this offering and our proposed business combination is approved, you
will not be able to seek conversion rights with respect to the full amount of your shares and may be forced to hold such additional
shares of common stock or sell them in the open market. The value of such additional shares may not appreciate over time following
our initial business combination, and the market price of our shares of common stock may not exceed the per-share conversion price.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We may require public stockholders
who wish to convert their shares of common stock in connection with a vote of stockholders on a proposed business combination
to comply with specific requirements for conversion that may make it more difficult for them to exercise their conversion rights
prior to the deadline for exercising their rights.</I></B></P>

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



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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">In connection with any stockholder meeting
called to approve a proposed initial business combination, each public stockholder will have the right, regardless of whether he
or she is voting for or against such proposed business combination, to demand that we convert his or her shares of common stock
into a share of the trust account. We may require public stockholders seeking to convert their shares in connection with a stockholder
vote on a proposed business combination, whether they are a record holder or hold their shares in &ldquo;street name,&rdquo; to either
tender their certificates to our transfer agent 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, at least two business days on the initial
business combination (a tender of shares is always required in connection with a tender offer). In order to obtain a physical stock
certificate, a stockholder&rsquo;s broker and/or clearing broker, DTC and our transfer agent will need to act to facilitate this request.
It is our understanding that stockholders should generally allot at least two weeks to obtain physical certificates from the transfer
agent. However, because we do not have any control over this process or over the brokers or DTC, it may take significantly longer
than two weeks to obtain a physical stock certificate. While we have been advised that it takes a short time to deliver shares
through the DWAC System, this may not be the case. Under Delaware law and our bylaws, we are required to provide at least 10 days&rsquo;
advance notice of any stockholder meeting, which would be the minimum amount of time a public stockholder would have to determine
whether to exercise conversion rights. Accordingly, if it takes longer than we anticipate for stockholders to deliver their shares,
stockholders who wish to convert may be unable to meet the deadline for exercising their conversion rights and thus may be unable
to convert their shares.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>If we require public stockholders
who wish to convert their shares of common stock to comply with the delivery requirements discussed above for conversion, such
converting stockholders may be unable to sell their securities when they wish to in the event that the proposed business combination
is not approved.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">If we require public stockholders who
wish to convert their shares of common stock to comply with the delivery requirements discussed above for conversion and such proposed
business combination is not consummated, we will promptly return such certificates to the tendering public stockholders. Accordingly,
investors who attempted to convert their shares in such a circumstance will be unable to sell their securities after the failed
business combination until we have returned their securities to them. The market price for our shares of common stock may decline
during this time and you may not be able to sell your securities when you wish to, even while other stockholders that did not seek
conversion may be able to sell their securities.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Because of our structure, other
companies may have a competitive advantage and we may not be able to consummate an attractive business combination.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We expect to encounter intense competition
from entities other than blank check companies having a business objective similar to ours, including venture capital funds, leveraged
buyout funds and operating businesses competing for acquisitions. Many of these entities are well established and have extensive
experience in identifying and effecting business combinations directly or through affiliates. Many of these competitors possess
greater technical, human and other resources than we do and our financial resources will be relatively limited when contrasted
with those of many of these competitors. Therefore, our ability to compete in consummating our initial business combination with
certain sizable target businesses may be limited by our available financial resources. This inherent competitive limitation gives
others an advantage in pursuing a business combination with certain target businesses. Furthermore, seeking stockholder approval
of our initial business combination may delay the consummation of a transaction. Additionally, our rights and the future dilution
they represent, may not be viewed favorably by certain target businesses. Any of the foregoing may place us at a competitive disadvantage
in successfully negotiating our initial business combination.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Our ability to consummate an attractive
business combination may be impacted by the market for initial public offerings.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Our efforts to identify a prospective
target business will not be limited to a particular industry or geographic region, although the Company intends to focus on operating
businesses in TMT sectors in Asia. If the market for initial public offerings is limited, we believe there will be a greater number
of attractive target businesses open to consummating an initial business combination with us as a means to achieve publicly held
status. Alternatively, if the market for initial public offerings is robust, we believe that there will be fewer attractive target
businesses amenable to consummating an initial business combination with us to become a public reporting company. Accordingly,
during periods with strong public offering markets, it may be more difficult for us to complete an initial business combination.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Our search for a business combination,
and any target business with which we ultimately consummate a business combination, may be materially adversely affected by the
recent coronavirus (COVID-19) outbreak.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">COVID-19 or the significant outbreak
of another infectious disease could result in a widespread health crisis that could adversely affect the economies and financial
markets worldwide, and the business of any potential target business with which we consummate a business combination could be
materially and adversely affected. Furthermore, we may be unable to complete a business combination if continued concerns relating
to COVID-19 restrict travel, 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
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.</P>

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

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We may face risks related
to businesses in the TMT industries.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Business combinations with businesses
in the TMT industries entail special considerations and risks. If we are successful in completing a business combination with
such a target business, we may be subject to, and possibly adversely affected by, the following risks after the business combination:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 3%"></TD><TD STYLE="width: 3%">&#9679;</TD><TD STYLE="text-align: justify; width: 94%">we may invest in new
                                         lines of business that could fail to attract or retain users or generate revenue;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD>&#9679;</TD><TD STYLE="text-align: justify">we will face significant competition and if we are not able to maintain
                         or improve our market share, our business could suffer;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD>&#9679;</TD><TD STYLE="text-align: justify">the loss of one or more members of our team, or our failure to attract
                         and retain other highly qualified personnel in the future, could seriously harm our business;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD>&#9679;</TD><TD STYLE="text-align: justify">if our security is compromised or if our platform is subjected to
                         attacks that frustrate or thwart our users&rsquo; ability to access our products and services, our users,
                         advertisers, and partners may cut back on or stop using our products and services altogether, which could
                         seriously harm our business;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD>&#9679;</TD><TD STYLE="text-align: justify">mobile malware, viruses, hacking and phishing attacks, spamming, and
                         improper or illegal use of our products could seriously harm our business and reputation;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD>&#9679;</TD><TD STYLE="text-align: justify">if we are unable to successfully grow our user base and further monetize
                         our products, our business will suffer;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD>&#9679;</TD><TD STYLE="text-align: justify">if we are unable to protect our intellectual property, the value of
                         our brand and other intangible assets may be diminished, and our business may be seriously harmed;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD>&#9679;</TD><TD STYLE="text-align: justify">we may be subject to regulatory investigations and proceedings in
                         the future, which could cause us to incur substantial costs or require us to change our business practices
                         in a way that could seriously harm our business;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD>&#9679;</TD><TD STYLE="text-align: justify">an inability to manage rapid change, increasing consumer expectations
                         and growth;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD>&#9679;</TD><TD STYLE="text-align: justify">an inability to build strong brand identity and improve subscriber
                         or customer satisfaction and loyalty;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD>&#9679;</TD><TD STYLE="text-align: justify">an inability to deal with subscribers&rsquo; or customers&rsquo; privacy
                         concerns;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD>&#9679;</TD><TD STYLE="text-align: justify">an inability to license or enforce intellectual property rights on
                         which our business may depend;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD>&#9679;</TD><TD STYLE="text-align: justify">an inability by us, or a refusal by third parties, to license content
                         to us upon acceptable terms;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD>&#9679;</TD><TD STYLE="text-align: justify">potential liability for negligence, copyright, or trademark infringement
                         or other claims based on the nature and content of materials that we may distribute;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD>&#9679;</TD><TD STYLE="text-align: justify">competition for the media and entertainment time and discretionary
                         spending of subscribers or customers, which may intensify in part due to advances in technology and changes
                         in consumer expectations and behavior; and</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD>&#9679;</TD><TD STYLE="text-align: justify">disruption or failure of our networks, systems or technology as a
                         result of misappropriation of data or other malfeasance, as well as outages, natural disasters, terrorist
                         attacks, accidental releases of information or similar events.</TD></TR></TABLE>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Any of the foregoing could have
an adverse impact on our operations following a business combination. However, our efforts in identifying prospective target businesses
will not be limited to the TMT industries. Accordingly, if we acquire a target business in another industry, these risks we will
be subject to risks attendant with the specific industry in which we operate or target business which we acquire, which may or
may not be different than those risks listed above.</P>



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

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

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">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, the capital requirements for any particular transaction remain to be determined. 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 other reasons, we will be required to seek additional financing. Such financing may not be available
on acceptable terms, if at all. To the extent that additional financing proves to be unavailable when needed to consummate a particular
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, if we consummate a business combination, we may require additional
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 initial business combination.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Our insiders will control a substantial
interest in us and thus may influence certain actions requiring a stockholder vote.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Upon consummation of our offering and
sale of the private units, our insiders will collectively beneficially own approximately 20% of our issued and outstanding shares
of common stock (not including the private units and underlying securities and assuming our insiders do not purchase any units
in this offering). None of our insiders director nominees or their affiliates has committed to purchase units in this offering
or any units or shares from persons in the open market or in private transactions. However, our insiders or their affiliates could
determine in the future to make such purchases in the open market or in private transactions, to the extent permitted by law, in
order to influence the vote. In connection with any vote for a proposed business combination, our insiders have agreed to vote
the shares of common stock owned by them immediately before this offering as well as the private shares and any shares of common
stock acquired in this offering or in the aftermarket in favor of such proposed business combination, and therefore will have a
significant influence on the vote.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We may not hold an annual meeting
of stockholders until after the consummation of our initial business combination.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">In accordance with 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 Delaware General Corporation Law, 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. It is unlikely that there will be 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 Delaware
General Corporation Law, 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 Delaware General Corporation Law.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Our insiders paid an aggregate
of $25,000, or approximately $0.017 per share, for the insider shares, and, accordingly, you will experience immediate and substantial
dilution from the purchase of our shares of common stock.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The difference between the public offering
price per share and the pro forma net tangible book value per share of common stock after this offering constitutes the dilution
to the investors in this offering. Our insiders acquired the insider shares for $0.017 per share, significantly contributing to
this dilution. Upon consummation of this offering, you and the other new investors will incur an immediate and substantial dilution
of approximately 78.8% or $7.16 per share (the difference between the pro forma net tangible book value per share
of $1.93, and the initial offering price of $9.09 per share (including the shares of common stock issuable upon
conversion of rights), taking into account that the net tangible book value per share prior to this offering was $(0.04). This
is because investors in this offering will be contributing approximately 96.0% of the total amount paid to us for our outstanding
shares of common stock after this offering but will own approximately 78.6% of our outstanding shares of common stock (including
the shares of common stock underlying the rights). Accordingly, the per-share purchase price you will be paying substantially
exceeds our per share net tangible book value.&nbsp;&nbsp;</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>If our insiders exercise their
registration rights, it may have an adverse effect on the market price of our shares of common stock and the existence of these
rights may make it more difficult to affect our initial business combination.</I></B></P>

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



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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Our insiders are entitled to make a
demand that we register the resale of the insider shares at any time commencing three months prior to the date on which their shares
may be released from escrow. Additionally, the purchasers of the private units and our insiders, or their affiliates are entitled
to demand that we register the resale of the private units (and underlying securities) and any units (and underlying securities)
our insiders or their affiliates may be issued in payment of working capital loans made to us commencing on the date that we consummate
our initial business combination. The presence of these additional shares of common stock trading in the public market may have
an adverse effect on the market price of our securities. In addition, the existence of these rights may make it more difficult
to effectuate our initial business combination or increase the cost of consummating our initial business combination with the target
business, as the stockholders of the target business may be discouraged from entering into a business combination with us or will
request a higher price for their securities because of the potential effect the exercise of such rights may have on the trading
market for our shares of common stock.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We may enter into agreements with
consultants or financial advisers that provide for the payment of fees upon the consummation of our initial business combination,
and, therefore, such consultants or financial advisers may have conflicts of interest.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We may enter into agreements with consultants
or financial advisers that provide for the payment of fees upon the consummation of our initial business combination. If we pay
consultants or financial advisers fees that are tied to the consummation of our initial business combination, they may have conflicts
of interest when providing services to us, and their interests in such fees may influence their advice with respect to a potential
business combination. For example, if a consultant&rsquo;s or financial advisor&rsquo;s fee is based on the size of the transaction, then they
may be influenced to present us with larger transactions that may have lower growth opportunities or long-term value versus smaller
transactions that may have greater growth opportunities or provide greater value to our stockholders. Similarly, consultants whose
fees are based on consummation of a business combination may be influenced to present potential business combinations to us regardless
of whether they provide longer-term value for our stockholders. While we will endeavor to structure agreements with consultants
and financial advisors to minimize the possibility and extent of these conflicts of interest, we cannot assure you that we will
be able to do so and that we will not be impacted by the adverse influences they create.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>If we are deemed to be an investment
company, 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 initial business combination.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">If we are deemed to be an investment
company under the Investment Company Act, our activities may be restricted, including:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="width: 94%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">restrictions on the nature of our investments; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">restrictions on the issuance of securities,</FONT></TD></TR>
</TABLE>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">each of which may make it difficult
for us to complete our business combination.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, we may have imposed upon
us certain burdensome requirements, including:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="width: 94%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">registration as an investment company;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">adoption of a specific form of corporate structure; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">reporting, record keeping, voting, proxy and disclosure requirements and other rules and regulations.</FONT></TD></TR>
</TABLE>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We do not believe that our anticipated
principal activities will subject us to the Investment Company Act. To this end, the proceeds held in the trust account may only
be invested in United States &ldquo;government securities&rdquo; within the meaning of Section 2(a)(16) of the Investment Company
Act having a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 promulgated
under the Investment Company Act which invest only in direct U.S. government treasury obligations. Pursuant to the trust agreement,
the trustee is not permitted to invest in other securities or assets. By restricting the investment of the proceeds to these instruments,
and by having a business plan targeted at acquiring and growing businesses for the long term (rather than on buying and selling
businesses in the manner of a merchant bank or private equity fund), we intend to avoid being deemed an &ldquo;investment company&rdquo;
within the meaning of the Investment Company Act. This offering is not intended for persons who are seeking a return on investments
in government securities or investment securities. The trust account is intended as a holding place for funds pending the earlier
to occur of either: (i) the completion of our primary business objective, which is a business combination; or (ii) absent a business
combination, our return of the funds held in the trust account to our public stockholders as part of our redemption of the public
shares. If we do not invest the proceeds as discussed above, we may be deemed to be subject to 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 complete 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.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>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.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">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 rights were negotiated
between us and the underwriters. In determining the size of this offering, management held customary organizational meetings with
the representative 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 rights underlying the units, include:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="width: 94%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">the history of other similarly structured blank check companies;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">prior offerings of those companies;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">our prospects for consummating an initial business combination with an operating business at attractive values;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">our capital structure;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">securities exchange listing requirements;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">market demand;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">expected liquidity of our securities;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">general conditions of the securities markets at the time of the offering; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">other factors as were deemed relevant.</FONT></TD></TR>
</TABLE>

<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-align: justify">However, although these factors were
considered, the determination of our offering price is more arbitrary than the pricing of securities for an operating company in
a particular industry since we have no historical operations or financial results to compare them to.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>The requirement that we complete
our initial business combination within 9 months from the closing of this offering (or 12 or 15 months if we have extended the
period of time as described in this prospectus) may give potential target businesses leverage over us in negotiating our initial
business combination.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We have 9 months from the closing of
this offering to complete our initial business combination (or 12 or 15 months if we have extended the period of time as described
in this prospectus). Any potential target business with which we enter into negotiations concerning a business combination will
be aware of this requirement. Consequently, such target business may obtain leverage over us in negotiating a business combination,
knowing that if we do not complete a business combination with that particular target business, we may be unable to complete a
business combination with any other target business. This risk will increase as we get closer to the time limit referenced above.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We may not obtain a fairness opinion
with respect to the target business that we seek to consummate our initial business combination with and therefore you may be relying
solely on the judgment of our board of directors in approving a proposed business combination.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We will only be required to obtain a
fairness opinion with respect to the target business that we seek to consummate our initial business combination with if it is
an entity that is affiliated with any of our insiders. In all other instances, we will have no obligation to obtain an opinion.
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</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Resources could be wasted in
researching business combinations 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.</I></B></P>

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



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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Compliance with the Sarbanes-Oxley
Act of 2002 will require substantial financial and management resources and may increase the time and costs of completing an initial
business combination.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Section 404 of the Sarbanes-Oxley Act
of 2002, or the Sarbanes-Oxley Act, requires that we evaluate and report on our system of internal control and may require that
we have such system of internal control audited. If we fail to maintain the adequacy of our internal control, we could be subject
to regulatory scrutiny, civil or criminal penalties and/or stockholder litigation. Any inability to provide reliable financial
reports could harm our business. Section 404 of the Sarbanes-Oxley Act also requires that our independent registered public accounting
firm report on management&rsquo;s evaluation of our system of internal control, although as an &ldquo;emerging growth company&rdquo; as
defined in the JOBS Act, we may take advantage of an exemption to this requirement. A target company may not be in compliance with
the provisions of the Sarbanes-Oxley Act regarding adequacy of their internal control. 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 initial business combination.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We are an emerging growth company
within the meaning of the Securities Act, and if we take advantage of certain exemptions from disclosure requirements available
to emerging growth companies, this could make our securities less attractive to investors and may make it more difficult to compare
our performance with other public companies.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The JOBS Act permits &ldquo;emerging
growth companies&rdquo; like us to take advantage of certain exemptions from various reporting requirements applicable to other
public companies that are not emerging growth companies. As long as we qualify as an emerging growth company, we would be permitted,
and we intend to, omit the auditor&rsquo;s attestation on internal control over financial reporting that would otherwise be required
by the Sarbanes-Oxley Act, as described above. We also intend to take advantage of the exemption provided under the JOBS Act from
the requirements to submit say-on-pay, say-on-frequency and say-on-golden parachute votes to our stockholders and we will avail
ourselves of reduced executive compensation disclosure that is already available to smaller reporting companies.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, Section 107 of the JOBS
Act also provides that an emerging growth company can take advantage of the exemption from complying with new or revised accounting
standards provided in Section 7(a)(2)(B) of the Securities Act as long as we are an emerging growth company. An emerging growth
company can therefore delay the adoption of certain accounting standards until those standards would otherwise apply to private
companies. We have elected to take advantage of these benefits until we are no longer an emerging growth company or until we affirmatively
and irrevocably opt out of this exemption. Our financial statements may therefore not be comparable to those of companies that
comply with such new or revised accounting standards.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Following this offering, we will continue
to be an emerging growth company until the earliest to occur of (i) the last day of the fiscal year during which we had total annual
gross revenues of at least $1.07 billion (as indexed for inflation), (ii) the last day of the fiscal year following the fifth anniversary
of the date of the first sale of units under this registration statement, (iii) the date on which we have, during the previous
three-year period, issued more than $1 billion in non-convertible debt, or (iv) the date on which we are deemed to be a &ldquo;large
accelerated filer,&rdquo; as defined under the Exchange Act.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Until such time that we lose &ldquo;emerging
growth company&rdquo; status, it is unclear if investors will find our securities less attractive because we may rely on these
exemptions. If some investors find our securities less attractive as a result, there may be a less active trading market for our
securities and our stock prices may be more volatile and could cause our stock prices to decline.</P>

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

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

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



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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Provisions in our certificate
of incorporation and bylaws 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.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Our certificate of incorporation contains
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 shares, 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.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Because we must furnish our stockholders
with target business financial statements prepared in accordance with U.S. generally accepted accounting principles or international
financial reporting standards, we may lose the ability to complete an otherwise advantageous initial business combination with
some prospective target businesses.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">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 in periodic reports. 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, or IFRS as issued by the International Accounting Standards Board or the IASB, 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. We will include the same financial statement disclosure
in connection with any tender offer documents we use, whether or not they are required under the tender offer rules. These financial
statement requirements may limit the pool of potential target businesses we may consummate our initial business combination with
because some targets may be unable to provide such statements in time for us to disclose such statements in accordance with federal
proxy rules and complete our initial business combination within the prescribed time frame.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>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.</I></B></P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>The securities in which we invest
the funds held in the trust account could bear a negative rate of interest, which could reduce the value of the assets held in
trust such that the per-share redemption amount received by public&nbsp;stockholder may be less than $10.00 per share.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The proceeds held in the trust account
will be held as cash or invested only in the U.S. government treasury bills with a maturity of 185 days or less or in money
market funds investing solely in U.S. Treasuries and meeting certain conditions under Rule 2a-7 under the Investment Company Act.
While short-term U.S. government treasury obligations currently yield a positive rate of interest, they have briefly yielded negative
interest rates in recent years. Central banks in Europe and Japan pursued interest rates below zero in recent years, and the Open
Market Committee of the Federal Reserve has not ruled out the possibility that it may in the future adopt similar policies in
the United States. In the event that we are unable to complete our initial business combination or make certain amendments to
our amended and restated certificate of incorporation, our public&nbsp;stockholder are entitled to receive their pro-rata share
of the proceeds held in the trust account, plus any interest income, net of taxes paid or payable (less, in the case we are unable
to complete our initial business combination, $100,000 of interest). Negative interest rates could reduce the value of the assets
held in trust such that the per-share redemption amount received by public&nbsp;stockholder may be less than $10.00 per share.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We are subject to changing law
and regulations regarding regulatory matters, corporate governance and public disclosure that have increased both our costs and
the risk of non-compliance.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We are subject to rules and regulations
by various governing bodies, including, for example, the SEC, which are charged with the protection of investors and the oversight
of companies whose securities are publicly traded, and to new and evolving regulatory measures under applicable law. Our efforts
to comply with new and changing laws and regulations have resulted in and are likely to continue to result in, increased general
and administrative expenses and a diversion of management time and attention from seeking a business combination target.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Moreover, because these laws, regulations
and standards are subject to varying interpretations, their application in practice may evolve over time as new guidance becomes
available. This evolution may result in continuing uncertainty regarding compliance matters and additional costs necessitated by
ongoing revisions to our disclosure and governance practices. If we fail to address and comply with these regulations and any subsequent
changes, we may be subject to penalty and our business may be harmed.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>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.</I></B></P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>There are no authorities addressing
the proper allocation of tax basis to the components of a unit, and therefore, investors may not appropriately allocate such basis
for U.S. federal income tax purposes.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">No statutory, administrative or judicial
authority directly addresses the treatment of a unit or instruments similar to a unit for U.S. federal income tax purposes and,
therefore, that treatment is not entirely clear. We intend to treat the acquisition of a unit, for U.S. federal income tax purposes,
as the acquisition of one share of our common stock and one right to receive one- tenth (1/10) of a share of our common stock upon
the consummation of an initial business combination, and, by purchasing a unit, you 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 our common stock and one right to receive one- tenth (1/10) of a share of our common
stock upon the consummation of an initial business combination based on the relative fair market value of each at the time of issuance.
The price allocated should be the stockholder&rsquo;s tax basis in such share or right, 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 our share of our common stock and one right
to receive one- tenth (1/10) of a share of our common stock upon the consummation of an initial business combination comprising
the unit, and the amount realized on the disposition should be allocated between the common stock and the right based on their
respective relative fair market values at the time of disposition. The foregoing treatment of the unit and a holder&rsquo;s purchase
price allocation are not binding on the Internal Revenue Service, or &ldquo;IRS&rdquo;, or the courts. The IRS or the courts may
not agree with such characterization and investors could suffer adverse U.S. federal income tax consequences as a result. Accordingly,
we urge each prospective investor to consult its own tax advisors regarding the tax consequences of an investment in a unit (including
alternative characterizations of a unit).</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Redemptions of our common stock
pursuant to the redemption provisions described in this prospectus could give rise to dividend income (rather than gain on a sale
or exchange) in certain circumstances.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">In the event that an investor&rsquo;s common
stock is redeemed pursuant to the redemption provisions described in this prospectus, 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 or is instead treated as
a dividend. Whether a redemption qualifies for sale treatment will depend largely on the total number of shares of our stock treated
as held by the investor (including any stock constructively owned by the investor as a result of owning rights or by attribution)
relative to all of our shares outstanding both before and after the redemption. If the redemption does not qualify for sale treatment,
all or a portion of such redemption could be treated as a taxable dividend to the extent of our current or accumulated earnings
and profits for tax purposes (which include earnings for the entire year of such payment, including after such payment is made).
Amounts treated as dividends to non-U.S. investors may be subject to withholding tax. Certain non-corporate U.S. investors may
be eligible for reduced rates of taxation upon dividends. The rules regarding the tax treatment of such redemptions are complex
and will depend on each investor&rsquo;s own circumstances. Each investor should consult with its own tax advisors as to the tax consequences
of a redemption.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Cyber incidents or attacks directed
at us could result in information theft, data corruption, operational disruption and/or financial loss.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We depend on digital technologies, including
information systems, infrastructure and cloud applications and services, including those of third parties with which we may deal.
Sophisticated and deliberate attacks on, or security breaches in, our systems or infrastructure, or the systems or infrastructure
of third parties or the cloud, could lead to corruption or misappropriation of our assets, proprietary information and sensitive
or confidential data. As an early stage company without significant investments in data security protection, we may not be sufficiently
protected against such occurrences. We may not have sufficient resources to adequately protect against, or to investigate and remediate
any vulnerability to, cyber incidents. It is possible that any of these occurrences, or a combination of them, could have adverse
consequences on our business and lead to financial loss.</P>

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

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>RISKS ASSOCIATED WITH ACQUIRING AND
OPERATING A BUSINESS OUTSIDE OF THE UNITED STATES</B></P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We may effect our initial business combination
with a company located outside of the United States. If we did, we would be subject to any special considerations or risks associated
with companies operating in the target business&rsquo; home jurisdiction, including any of the following:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="width: 94%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">rules and regulations or currency conversion or corporate withholding taxes on individuals;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">tariffs and trade barriers;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">regulations related to customs and import/export matters;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">longer payment cycles;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt 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>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">currency fluctuations and exchange controls;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">challenges in collecting accounts receivable;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">cultural and language differences;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">employment regulations;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">crime, strikes, riots, civil disturbances, terrorist attacks and wars; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">deterioration of political relations with the United States.</FONT></TD></TR>
</TABLE>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We may not be able to adequately address
these additional risks. If we are unable to do so, our operations may suffer.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>If we effect our initial business
combination with a target business located outside of the United States, the laws applicable to such target business will likely
govern all of our material agreements and we may not be able to enforce our legal rights.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">If we effect our initial business combination
with a target business located outside of the United States, the laws of the country in which such target business is domiciled
will govern almost all of the material agreements relating to its operations. The target business may not be able to enforce any
of its material agreements in such jurisdiction and appropriate remedies to enforce its rights under such material agreements may
not be available in this new jurisdiction. The system of laws and the enforcement of existing laws in such jurisdiction may not
be as certain in implementation and interpretation as in the United States. The inability to enforce or obtain a remedy under any
of our future agreements could result in a significant loss of business, business opportunities or capital. Additionally, if we
consummate our initial business combination with a company located outside of the United States, it is likely that substantially
all of our assets would be located outside of the United States and some of our officers and directors might reside outside of
the United States. As a result, it may not be possible for investors in the United States to enforce their legal rights, to effect
service of process upon our directors or officers or to enforce judgments of United States courts predicated upon civil liabilities
and criminal penalties of our directors and officers under federal securities laws of the United States.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Because of the costs and difficulties
inherent in managing cross-border business operations, our results of operations may be negatively impacted.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Managing a business, operations, personnel
or assets in another country is challenging and costly. Any management that we may have (whether based abroad or in the U.S.) may
be inexperienced in cross-border business practices and unaware of significant differences in accounting rules, legal regimes and
labor practices. Even with a seasoned and experienced management team, the costs and difficulties inherent in managing cross-border
business operations, personnel and assets can be significant (and much higher than in a purely domestic business) and may negatively
impact our financial and operational performance.</P>

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

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>If social unrest, acts of terrorism,
regime changes, changes in laws and regulations, political upheaval, or policy changes or enactments occur in a country in which
we may operate after we effect our initial business combination, it may result in a negative impact on our business.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Political events in another country
may significantly affect our business, assets or operations. Social unrest, acts of terrorism, regime changes, changes in laws
and regulations, political upheaval, and policy changes or enactments could negatively impact our business in a particular country.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Many countries have difficult
and unpredictable legal systems and underdeveloped laws and regulations that are unclear and subject to corruption and inexperience,
which may adversely impact our results of operations and financial condition.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Our ability to seek and enforce legal
protections, including with respect to intellectual property and other property rights, or to defend ourselves with regard to legal
actions taken against us in a given country, may be difficult or impossible, which could adversely impact our operations, assets
or financial condition.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Rules and regulations in many countries
are often ambiguous or open to differing interpretation by responsible individuals and agencies at the municipal, state, regional
and federal levels. The attitudes and actions of such individuals and agencies are often difficult to predict and inconsistent.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Delay with respect to the enforcement
of particular rules and regulations, including those relating to customs, tax, environmental and labor, could cause serious disruption
to operations abroad and negatively impact our results.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>If relations between the United
States and foreign governments deteriorate, it could cause potential target businesses or their goods and services to become less
attractive.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The relationship between the United
States and foreign governments could be subject to sudden fluctuation and periodic tension. For instance, the United States may
announce its intention to impose quotas on certain imports. Such import quotas may adversely affect political relations between
the two countries and result in retaliatory countermeasures by the foreign government in industries that may affect our ultimate
target business. Changes in political conditions in foreign countries and changes in the state of U.S. relations with such countries
are difficult to predict and could adversely affect our operations or cause potential target businesses or their goods and services
to become less attractive. Because we are not limited to any specific industry, there is no basis for investors in this offering
to evaluate the possible extent of any impact on our ultimate operations if relations are strained between the United States and
a foreign country in which we acquire a target business or move our principal manufacturing or service operations.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>If any dividend is declared in
the future and paid in a foreign currency, you may be taxed on a larger amount in U.S. </I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">If you are a U.S. holder of our ordinary
shares, you will be taxed on the U.S. dollar value of your dividends, if any, at the time you receive them, even if you actually
receive a smaller amount of U.S. dollars when the payment is in fact converted into U.S. dollars. Specifically, if a dividend is
declared and paid in a foreign currency, the amount of the dividend distribution that you must include in your income as a U.S.
holder will be the U.S. dollar value of the payments made in the foreign currency, determined at the spot rate of the foreign currency
to the U.S. dollar on the date the dividend distribution is includible in your income, regardless of whether the payment is in
fact converted into U.S. dollars. Thus, if the value of the foreign currency decreases before you actually convert the currency
into U.S. dollars, you will be taxed on a larger amount in U.S. dollars than the U.S. dollar amount that you will actually ultimately
receive.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>After our initial business combination,
substantially all of our assets may be located in a foreign country and substantially all of our revenue may be derived from our
operations in such country. Accordingly, our results of operations and prospects will be subject, to a significant extent, to the
economic, political and legal policies, developments and conditions in the country in which we operate.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The economic, political and social conditions,
as well as government policies, of the country in which our operations are located could affect our business. The economy in Greater
China and other Asian Countries differs from the economies of most developed countries in many respects. Such economic growth has
been uneven, both geographically and among various sectors of the economy and such growth may not be sustained in the future. If
in the future such country&rsquo;s economy experiences a downturn or grows at a slower rate than expected, there may be less demand for
spending in certain industries. A decrease in demand for spending in certain industries could materially and adversely affect our
ability to find an attractive target business with which to consummate our initial business combination and if we effect our initial
business combination, the ability of that target business to become profitable.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Currency policies may cause a
target business&rsquo; ability to succeed in the international markets to be diminished.</I></B></P>

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



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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">In the event we acquire a non-U.S. target,
all revenues and income would likely be received in a foreign currency, the dollar equivalent of our net assets and distributions,
if any, could be adversely affected by reductions in the value of the local currency. The value of the currencies in our target
regions fluctuate and are affected by, among other things, changes in political and economic conditions. Any change in the relative
value of such currency against our reporting currency may affect the attractiveness of any target business or, following consummation
of our initial business combination, our financial condition and results of operations. Additionally, if a currency appreciates
in value against the dollar prior to the consummation of our initial business combination, the cost of a target business as measured
in dollars will increase, which may make it less likely that we are able to consummate such transaction.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Many of the economies in Asia
are experiencing substantial inflationary pressures which may prompt the governments to take action to control the growth of the
economy and inflation that could lead to a significant decrease in our profitability following our initial business combination.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">While many of the economies in Asia
have experienced rapid growth over the last two decades, they currently are experiencing inflationary pressures. As governments
take steps to address the current inflationary pressures, there may be significant changes in the availability of bank credits,
interest rates, limitations on loans, restrictions on currency conversions and foreign investment. There also may be imposition
of price controls. If prices for the products of our ultimate target business rise at a rate that is insufficient to compensate
for the rise in the costs of supplies, it may have an adverse effect on our profitability. If these or other similar restrictions
are imposed by a government to influence the economy, it may lead to a slowing of economic growth. Because we are not limited to
any specific industry, the ultimate industry that we operate in may be affected more severely by such a slowing of economic growth.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Many industries in Asia are subject
to government regulations that limit or prohibit foreign investments in such industries, which may limit the potential number of
acquisition candidates.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Governments in many Asian countries
have imposed regulations that limit foreign investors&rsquo; equity ownership or prohibit foreign investments altogether in companies
that operate in certain industries. As a result, the number of potential acquisition candidates available to us may be limited
or our ability to grow and sustain the business, which we ultimately acquire will be limited.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>If a country in Asia enacts regulations
in industry segments that forbid or restrict foreign investment, our ability to consummate our initial business combination could
be severely impaired.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Many of the rules and regulations that
companies face concerning foreign ownership are not explicitly communicated. If new laws or regulations forbid or limit foreign
investment in industries in which we want to complete our initial business combination, they could severely impair our candidate
pool of potential target businesses. Additionally, if the relevant central and local authorities find us or the target business
with which we ultimately complete our initial business combination to be in violation of any existing or future laws or regulations,
they would have broad discretion in dealing with such a violation, including, without limitation:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; line-height: 107%">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="line-height: 107%; width: 94%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">levying fines;</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">revoking our business and other licenses;</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">requiring that we restructure our ownership or operations; and</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">requiring that we discontinue any portion or all of our business.</FONT></TD></TR>
</TABLE>
<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-align: justify">Any of the above could have an adverse
effect on our company post-business combination and could materially reduce the value of your investment.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Corporate governance standards
in Asia may not be as strict or developed as in the United States and such weakness may hide issues and operational practices that
are detrimental to a target business.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">General corporate governance standards
in some countries are weak in that they do not prevent business practices that cause unfavorable related party transactions, over-leveraging,
improper accounting, family company interconnectivity and poor management. Local laws often do not go far enough to prevent improper
business practices. Therefore, stockholders may not be treated impartially and equally as a result of poor management practices,
asset shifting, conglomerate structures that result in preferential treatment to some parts of the overall company, and cronyism.
The lack of transparency and ambiguity in the regulatory process also may result in inadequate credit evaluation and weakness
that may precipitate or encourage financial crisis. In our evaluation of a business combination we will have to evaluate the corporate
governance of a target and the business environment, and in accordance with United States laws for reporting companies take steps
to implement practices that will cause compliance with all applicable rules and accounting practices. Notwithstanding these intended
efforts, there may be endemic practices and local laws that could add risk to an investment we ultimately make and that result
in an adverse effect on our operations and financial results.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>RISKS ASSOCIATED WITH ACQUIRING AND
OPERATING A TARGET BUSINESS WITH ITS PRIMARY OPERATION IN CHINA</B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">As set forth herein, our efforts in
identifying a prospective target business will not be limited to a particular country, although we intend to focus on the Asia
TMT sector, and initially on companies with operations located primarily in the People&rsquo;s Republic of China (&ldquo;PRC&rdquo;). Accordingly,
in addition to the risk factors referred above, we have set forth some of the primary risks we have identified in seeking to consummate
our initial business combination with a company having its primary operations in the PRC.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>As a result of merger and acquisition
regulations implemented on September 8, 2006 (amended on June 22, 2009) relating to acquisitions of assets and equity interests
of Chinese companies by foreign persons, it is expected that acquisitions will take longer and be subject to economic scrutiny
by the PRC government authorities such that we may not be able to complete a transaction.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">On September 8, 2006, the Ministry of
Commerce, together with several other government agencies, promulgated the Regulations on Merger and Acquisition of Domestic Enterprises
by Foreign Investors (the &ldquo;M&amp;A Regulations&rdquo;, including its amendment on June 22, 2009), which implemented a comprehensive
set of regulations governing the approval process by which a Chinese company may participate in an acquisition of its assets or
its equity interests and by which a Chinese company may obtain public trading of its securities on a securities exchange outside
the PRC. Although there was a complex series of regulations in place prior to September 8, 2006 for approval of Chinese enterprises
that were administered by a combination of provincial and centralized agencies, the M&amp;A Regulations have largely centralized
and expanded the approval process to the Ministry of Commerce, the State Administration of Industry and Commerce (SAIC), the State
Administration of Foreign Exchange (SAFE) or its branch offices, the State Asset Supervision and Administration Commission (SASAC),
and the China Securities Regulatory Commission (CSRC). Depending on the structure of the transaction, these M&amp;A Regulations
will require the Chinese parties to make a series of applications and supplemental applications to one or more of the aforementioned
agencies, some of which must be made within strict time limits and depending on approvals from one or the other of the aforementioned
agencies. The application process has been supplemented to require the presentation of economic data concerning a transaction,
including appraisals of the business to be acquired and evaluations of the acquirer which will permit the government to assess
the economics of a transaction in addition to the compliance with legal requirements. If obtained, approvals will have expiration
dates by which a transaction must be completed. Also, completed transactions must be reported to the Ministry of Commerce and some
of the other agencies within a short period after closing or be subject to an unwinding of the transaction. Therefore, acquisitions
in China may not be able to be completed because the terms of the transaction may not satisfy aspects of the approval process and
may not be completed, even if approved, if they are not consummated within the time permitted by the approvals granted.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Compliance with the PRC Antitrust
law may limit our ability to effect our initial business combination.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The PRC Antitrust Law became effective
on August 1, 2008. The government authorities in charge of antitrust matters in China are the Antitrust Commission and other antitrust
authorities under the State Council. The PRC Antitrust Law regulates (1) monopoly agreements, including decisions or actions in
concert that preclude or impede competition, entered into by business operators; (2) abuse of dominant market position by business
operators; and (3) concentration of business operators that may have the effect of precluding or impeding competition. To implement
the Antitrust Law, in 2008, the State Council formulated the regulations that require filing of concentration of business operators,
pursuant to which concentration of business operators refers to (1) merger with other business operators; (2) gaining control
over other business operators through acquisition of equity interest or assets of other business operators; and (3) gaining control
over other business operators through exerting influence on other business operators through contracts or other means. In 2009,
the Ministry of Commerce, to which the Antitrust Commission is affiliated, promulgated the Measures for Filing of Concentration
of Business Operators (amended by the Guidelines for Filing of Concentration of Business Operators in 2014), which set forth the
criteria of concentration and the requirement of miscellaneous documents for the purpose of filing. The business combination we
contemplate may be considered the concentration of business operators, and to the extent required by the Antitrust Law and the
criteria established by the State Council, we must file with the antitrust authority under the PRC State Council prior to conducting
the contemplated business combination. If the antitrust authority decides not to further investigate whether the contemplated
business combination has the effect of precluding or impeding competition or fails to make a decision within 30 days from receipt
of relevant materials, we may proceed to consummate the contemplated business combination. If antitrust authority decides to prohibit
the contemplated business combination after further investigation, we must terminate such business combination and would then
be forced to either attempt to complete a new business combination if it was prior to 15 wait months from the closing of this
offering or we would be required to return any amounts which were held in the trust account to our stockholders. When we
evaluate a potential business combination, we will consider the need to comply with the Antitrust Law and other relevant regulations
which may limit our ability to effect an acquisition or may result in our modifying or not pursuing a particular transaction.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>If, due to restrictions on foreign
investment in a target business, we have to acquire the business through the use of contractual arrangements and the PRC government
determines that such contractual arrangements do not comply with foreign investment regulations, or if these regulations or the
interpretation of existing regulations in the PRC change or new restrictive or prohibitive regulations come into force in the future,
we could be subject to significant penalties or be forced to relinquish our interests in those operations.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Because of the above-mentioned industrial
restrictions, foreign investors often acquire control of PRC business through the use of contractual arrangements pursuant to which
they effectively control the PRC business. There are uncertainties as to whether such contractual arrangements comply with the
regulations prohibiting or restricting foreign ownership in certain industries. In addition, even if such arrangements are not
in violation of current regulations, such regulations are subject to change in the future and may be broadened to further restrict
foreign investments in new industries or new category of assets.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">If we or any of our potential future
target businesses are found to be in violation of any existing or future local laws or regulations with respect to foreign investment
in local entities (for example, if we are deemed to be holding equity interests in certain of our affiliated entities in which
direct foreign ownership is prohibited), the relevant regulatory authorities might have the discretion to:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%">&nbsp;</TD>
<TD STYLE="width: 3%; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="text-align: justify; line-height: 107%; width: 94%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">revoke the business and operating licenses of the potential future target business;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="line-height: 107%">&nbsp;</TD>
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">confiscate relevant income and impose fines and other penalties;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="line-height: 107%">&nbsp;</TD>
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">discontinue or restrict the operations of the potential future target business;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="line-height: 107%">&nbsp;</TD>
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">require us or potential future target business to restructure the relevant ownership structure or operations;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="line-height: 107%">&nbsp;</TD>
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">restrict or prohibit our use of the proceeds of this offering to finance the target businesses and its operations;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="line-height: 107%">&nbsp;</TD>
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">impose conditions or requirements with which we or potential future target business may not be able to comply; or</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="line-height: 107%">&nbsp;</TD>
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">require us to discontinue a portion or all of our business.</FONT></TD></TR>
</TABLE>

<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-align: justify">The imposition of any of the above penalties
could result in a material and adverse effect on our ability to conduct our business as well as our financial situation and we
might be forced to relinquish our interests in operations.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>If we have to acquire a target
business through contractual arrangements with, or which results in, one or more operating businesses in China, such contracts
may not be as effective in providing operational control as direct ownership of such businesses.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The government of the PRC has restricted
or limited foreign ownership of certain kinds of assets and companies operating in certain industries. The industry groups that
are restricted are wide ranging, including certain aspects of telecommunications, advertising, food production and heavy equipment
manufacturers, for example. In addition, there can be restrictions on the foreign ownership of businesses that are determined from
time to time to be in &ldquo;important industries&rdquo; that may affect the national economic security or having &ldquo;famous Chinese
brand names&rdquo; or &ldquo;well established Chinese brand names.&rdquo; Subject to the review and approval requirements of the Ministry
of Commerce and other relevant agencies as discussed elsewhere for acquisitions of assets and companies in the PRC and subject
to the various percentage ownership limitations that exist from time to time, acquisitions involving foreign investors and parties
in the various restricted categories of assets and industries may nonetheless sometimes be consummated using contractual arrangements
with permitted Chinese parties. To the extent such agreements are employed, they may be for control of specific assets such as
intellectual property or control of blocks of the equity ownership interests of a company which may provide exceptions to the merger
and acquisition regulations mentioned above since these types of arrangements typically do not involve a change of equity ownership
in PRC operating company. The agreements would be designed to provide our company with the economic benefits of and control over
the subject assets or equity interests similar to the rights of full ownership, while leaving the technical ownership in the hands
of Chinese parties who would be our nominees and, therefore, may exempt the transaction from the merger and acquisition regulations,
including the application process required thereunder. However, there has been limited implementation guidance provided with respect
to the merger and acquisition regulations. There can be no assurance the relevant government agencies would not apply them to a
business combination effected through contractual arrangements. If such an agency determines such an application should have made,
consequences may include levying fines, revoking business and other licenses, requiring restructure of ownership or operations
and requiring discontinuation of any portion of all of the acquired business. These agreements likely also would provide for increased
ownership or full ownership and control by us when and if permitted under PRC law and regulation. If we choose to effect our initial
business combination that employs the use of these types of control arrangements, we may have difficulty in enforcing our rights.
Therefore, these contractual arrangements may not be as effective in providing us with the same economic benefits, accounting consolidation
or control over a target business as would direct ownership. For example, if the target business or any other entity fails to perform
its obligations under these contractual arrangements, we may have to incur substantial costs and expend substantial resources to
enforce such arrangements, and rely on legal remedies under Chinese law, including seeking specific performance or injunctive relief,
and claiming damages, which we cannot assure will be sufficient to off-set the cost of enforcement and may adversely affect the
benefits we expect to receive from the business combination.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Regulations relating to the transfer
of state-owned property rights in enterprises may increase the cost of our acquisitions and impose an additional administrative
burden on us.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The legislation governing the acquisition
of a China state-owned company contains stringent governmental regulations. The transfer of state-owned property rights in enterprises
must take place through a government approved &ldquo;state-owned asset exchange,&rdquo; and the value of the transferred property
rights must be evaluated by those Chinese appraisal firms qualified to do &ldquo;state-owned assets evaluation.&rdquo; The final
price must not be less than 90% of the appraisal price. Additionally, bidding/auction procedures are essential in the event that
there is more than one potential transferee. In the case of an acquisition by foreign investors of state-owned enterprises, the
acquirer and the seller must make a resettlement plan to properly resettle the employees, and the resettlement plan must be approved
by the Employees&rsquo; Representative Congress. The seller must pay all unpaid wages and social welfare payments from the existing
assets of the target company to the employees. These regulations may adversely&nbsp;affect our ability to acquire a state-owned
business or assets.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Exchange controls that exist in
the PRC may restrict or prevent us from using the proceeds of this offering to acquire a target company in PRC and limit our ability
to utilize our cash flow effectively following our initial business combination.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">SAFE promulgated the Notice of the State
Administration of Foreign Exchange on Reforming the Administration of Foreign Exchange Settlement of Capital of Foreign-invested
Enterprises, or Circular 19, effective on June 1, 2015, in replacement of the Circular on the Relevant Operating Issues Concerning
the Improvement of the Administration of the Payment and Settlement of Foreign Currency Capital of Foreign-Invested Enterprises,
or SAFE Circular 142, the Notice from the State Administration of Foreign Exchange on Relevant Issues Concerning Strengthening
the Administration of Foreign Exchange Businesses, or Circular 59, and the Circular on Further Clarification and Regulation of
the Issues Concerning the Administration of Certain Capital Account Foreign Exchange Businesses, or Circular 45. According to Circular
19, the flow and use of the RMB capital converted from foreign currency-denominated registered capital of a foreign-invested company
is regulated such that RMB capital may not be used for the issuance of RMB entrusted loans, the repayment of inter-enterprise loans
or the repayment of banks loans that have been transferred to a third party. Although Circular 19 allows RMB capital converted
from foreign currency-denominated registered capital of a foreign-invested enterprise to be used for equity investments within
the PRC, it also reiterates the principle that RMB converted from the foreign currency-denominated capital of a foreign-invested
company may not be directly or indirectly used for purposes beyond its business scope. Thus, it is unclear whether SAFE will permit
such capital to be used for equity investments in the PRC in actual practice. SAFE promulgated the Notice of the State Administration
of Foreign Exchange on Reforming and Standardizing the Foreign Exchange Settlement Management Policy of Capital Account, or Circular
16, effective on June 9, 2016, which reiterates some of the rules set forth in Circular 19, but changes the prohibition against
using RMB capital converted from foreign currency-denominated registered capital of a foreign-invested company to issue RMB entrusted
loans to a prohibition against using such capital to issue loans to non-associated enterprises. Violations of SAFE Circular 19
and Circular 16 could result in administrative penalties.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">As such, Circular 19 and Circular 16
may significantly limit our ability to transfer the proceeds of this offering to a PRC target company and the use of such proceeds
by the PRC target company.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, following our initial business
combination with a PRC target company, we will be subject to the PRC&rsquo;s rules and regulations on currency conversion. In the PRC,
the SAFE regulates the conversion of the Renminbi into foreign currencies. Currently, FIEs are required to apply to the SAFE for
&ldquo;Foreign Exchange Registration Certificates for FIEs.&rdquo; Following our initial business combination, we will likely be
an FIE as a result of our ownership structure. With such registration certificates, which need to be renewed annually, FIEs are
allowed to open foreign currency accounts including a &ldquo;basic account&rdquo; and &ldquo;capital account.&rdquo; Currency conversion
within the scope of the &ldquo;basic account,&rdquo; such as remittance of foreign currencies for payment of dividends, can be effected
without requiring the approval of the SAFE. However, conversion of currency in the &ldquo;capital account,&rdquo; including capital
items such as direct investment, loans and securities, still require approval of the SAFE.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We cannot assure you the PRC regulatory
authorities will not impose further restrictions on the convertibility of the Renminbi. Any future restrictions on currency exchanges
may limit our ability to use the proceeds of this offering in an initial business combination with a PRC target company and the
use our cash flow for the distribution of dividends to our&nbsp;stockholders or to fund operations we may have outside
of the PRC.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Our initial business combination
may be subject to national security review by the PRC government and we may have to spend additional resources and incur additional
time delays to complete any such business combination or be prevented from pursuing certain investment opportunities.</I></B></P>

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



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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">On February 3, 2011, the PRC government
issued a Notice Concerning the Establishment of Security Review Procedure on Mergers and Acquisitions of Domestic Enterprises by
Foreign Investors, or Security Review Regulations, which became effective on March 5, 2011. The Security Review Regulations cover
acquisitions by foreign investors of a broad range of PRC enterprises if such acquisitions could result in de facto control by
foreign investors and the enterprises are relating to military, national defense, important agriculture products, important energy
and natural resources, important infrastructures, important transportation services, key technologies and important equipment manufacturing.
The scope of the review includes whether the acquisition will impact the national security, economic and social stability, and
the research and development capabilities on key national security related technologies. Foreign investors should submit a security
review application to the Department of Commerce for its initial review for contemplated acquisition. If the acquisition is considered
to be within the scope of the Security Review Regulations, the Department of Commerce will transfer the application to a joint
security review committee within five business days for further review. The joint security review committee, consisting of members
from various PRC government agencies, will conduct a general review and seek comments from relevant government agencies. The joint
security review committee may initiate a further special review and request the termination or restructuring of the contemplated
acquisition if it determines that the acquisition will result in significant national security issue.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The Security Review Regulations will
potentially subject a large number of mergers and acquisitions transactions by foreign investors in China to an additional layer
of regulatory review. Currently, there is significant uncertainty as to the implication of the Security Review Regulations. Neither
the Department of Commerce nor other PRC government agencies have issued any detailed rules for the implementation of the Security
Review Regulations. If, for example, our potential initial business combination is with a target company operating in the PRC in
any of the sensitive sectors identified above, the transaction will be subject to the Security Review Regulations, and we may have
to spend additional resources and incur additional time delays to complete any such acquisition. We may also be prevented from
pursuing certain investment opportunities if the PRC government considers that the potential investments will result in a significant
national security issue.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>In the event we successfully consummated
business combination with a target business with primary operation in PRC, we will be subject to restrictions on dividend payments
following consummation of our initial business combination.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">After we consummate our initial business
combination, we may rely on dividends and other distributions from our operating company to provide us with cash flow and to meet
our other obligations. Current regulations in China would permit our operating company in China to pay dividends to us only out
of its accumulated distributable profits, if any, determined in accordance with Chinese accounting standards and regulations. In
addition, our operating company in China will be required to set aside at least 10% (up to an aggregate amount equal to half of
its registered capital) of its accumulated profits each year. Such cash reserve may not be distributed as cash dividends. In addition,
if our operating company in China incurs debt on its own behalf in the future, the instruments governing the debt may restrict
its ability to pay dividends or make other payments to us.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>If we make equity compensation
grants to persons who are PRC citizens, they may be required to register with the State Administration of Foreign Exchange of the
PRC (&ldquo;SAFE&rdquo;). We may also face regulatory uncertainties that could restrict our ability to adopt equity compensation
plans for our directors and employees and other parties under PRC laws.</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">On April 6, 2007, SAFE issued the &ldquo;Operating
Procedures for Administration of Domestic Individuals Participating in the Employee Stock Ownership Plan or Stock Option Plan of
An Overseas Listed Company, also known as &ldquo;Circular 78.&rdquo; It is not clear whether Circular 78 covers all forms of equity
compensation plans or only those which provide for the granting of shares options. For any plans which are so covered and are adopted
by a non-PRC listed company, such as our company, after April 6, 2007, Circular 78 requires all participants who are PRC citizens
to register with and obtain approvals from SAFE prior to their participation in the plan. In addition, Circular 78 also requires
PRC citizens to register with SAFE and make the necessary applications and filings if they participated in an overseas listed company&rsquo;s
covered equity compensation plan prior to April 6, 2007. We believe that the registration and approval requirements contemplated
in Circular 78 will be burdensome and time consuming.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Upon consummation of business combination
with a target business with primary operations in PRC, we may adopt an equity incentive plan and make shares option grants under
the plan to our officers, directors and employees, whom may be PRC citizens and be required to register with SAFE. If it is determined
that any of our equity compensation plans are subject to Circular 78, failure to comply with such provisions may subject us and
participants of our equity incentive plan who are PRC citizens to fines and legal sanctions and prevent us from being able to grant
equity compensation to our PRC employees. In that case, our ability to compensate our employees and directors through equity compensation
would be hindered and our business operations may be adversely affected.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Enhanced scrutiny over acquisition
transactions by the PRC tax authorities may have a negative impact on potential acquisitions we may pursue in the future.</I></B></P>

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



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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The PRC tax authorities have enhanced
their scrutiny over the direct or indirect transfer of certain taxable assets, including, in particular, equity interests in a
PRC resident enterprise, by a non-resident enterprise by promulgating and implementing SAT Circular 59 and Circular 698, which
became effective in January 2008, and a Circular 7 in replacement of some of the existing rules in Circular 698, which became effective
in February 2015.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Under Circular 698, where a non-resident
enterprise conducts an &ldquo;indirect transfer&rdquo; by transferring the equity interests of a PRC &ldquo;resident enterprise&rdquo;
indirectly by disposing of the equity interests of an overseas holding company, the non-resident enterprise, being the transferor,
may be subject to PRC corporate income tax, if the indirect transfer is considered to be an abusive use of company structure without
reasonable commercial purposes. As a result, gains derived from such indirect transfer may be subject to PRC tax at a rate of up
to 10%. Circular 698 also provides that, where a non-PRC resident enterprise transfers its equity interests in a PRC resident enterprise
to its related parties at a price lower than the fair market value, the relevant tax authority has the power to make a reasonable
adjustment to the taxable income of the transaction.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">In February 2015, the SAT issued Circular
7 to replace the rules relating to indirect transfers in Circular 698. Circular 7 has introduced a new tax regime that is significantly
different from that under Circular 698. Circular 7 extends its tax jurisdiction to not only indirect transfers set forth under
Circular 698 but also transactions involving transfer of other taxable assets, through the offshore transfer of a foreign intermediate
holding company. In addition, Circular 7 provides clearer criteria than Circular 698 on how to assess reasonable commercial purposes
and has introduced safe harbors for internal group restructurings and the purchase and sale of equity through a public securities
market. Circular 7 also brings challenges to both the foreign transferor and transferee (or other person who is obligated to pay
for the transfer) of the taxable assets. Where a non-resident enterprise conducts an &ldquo;indirect transfer&rdquo; by transferring
the taxable assets indirectly by disposing of the equity interests of an overseas holding company, the non-resident enterprise
being the transferor, or the transferee, or the PRC entity which directly owned the taxable assets may report to the relevant tax
authority such indirect transfer. Using a &ldquo;substance over form&rdquo; principle, the PRC tax authority may disregard the existence
of the overseas holding company if it lacks a reasonable commercial purpose and was established for the purpose of reducing, avoiding
or deferring PRC tax. As a result, gains derived from such indirect transfer may be subject to PRC corporate income tax, and the
transferee or other person who is obligated to pay for the transfer is obligated to withhold the applicable taxes, currently at
a rate of 10% for the transfer of equity interests in a PRC resident enterprise.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We face uncertainties on the reporting
and consequences on future private equity financing transactions, share exchange or other transactions involving the transfer of
shares in our company by investors that are non-PRC resident enterprises. The PRC tax authorities may pursue such non-resident
enterprises with respect to a filing or the transferees with respect to withholding obligation, and request our PRC subsidiaries
to assist in the filing. As a result, we and non-resident enterprises in such transactions may become at risk of being subject
to filing obligations or being taxed, under Circular 59 or Circular 698 and Circular 7, and may be required to expend valuable
resources to comply with Circular 59, Circular 698 and Circular 7 or to establish that we and our non-resident enterprises should
not be taxed under these circulars, which may have a material adverse effect on our financial condition and results of operations.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The PRC tax authorities have the discretion
under SAT Circular 59, Circular 698 and Circular 7 to make adjustments to the taxable capital gains based on the difference between
the fair value of the taxable assets transferred and the cost of investment. Although we currently have no plans to pursue any
acquisitions in China or elsewhere in the world, we may pursue acquisitions in the future that may involve complex corporate structures.
If we are considered a non-resident enterprise under the PRC corporate income tax law and if the PRC tax authorities make adjustments
to the taxable income of the transactions under SAT Circular 59 or Circular 698 and Circular 7, our income tax costs associated
with such potential acquisitions will be increased, which may have an adverse effect on our financial condition and results of
operations.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_004"></A>CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS</B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The statements contained in this prospectus
that are not purely historical are forward-looking statements. Our forward-looking statements include, but are not limited to,
statements regarding our or our management&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;intend,&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 our:</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="width: 94%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ability to complete our initial business combination;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">success in retaining or recruiting, or changes required in, our officers, key employees or directors following our initial business combination;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">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>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">potential ability to obtain additional financing to complete our initial business combination;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">pool of prospective target businesses;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">the ability of our officers and directors to generate a number of potential investment opportunities;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">potential change in control if we acquire one or more target businesses for stock;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">the potential liquidity and trading of our securities;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">the lack of a market for our securities;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">use of proceeds not held in the trust account or available to us from interest income on the trust account balance; or</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">financial performance following this offering.</FONT></TD></TR>
</TABLE>

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">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. Future developments affecting us may not 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.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_005"></A>USE OF PROCEEDS</B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We estimate that the net proceeds of
this offering, in addition to the funds we will receive from the sale of the private units, will be used as set forth in the following
table:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;&nbsp;</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 STYLE="text-align: center; padding: 0 0 0 10; text-indent: -10">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Without</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Over-Allotment</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Option</B></FONT></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Over-Allotment</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Option&nbsp;Exercised</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding: 0 0 0 10; text-indent: -10">Gross proceeds</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 56%; text-align: left; padding: 0 0 0 10; text-indent: -10">From offering</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">50,000,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">57,500,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">From sale of private units</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,050,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,200,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Total gross proceeds</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">52,050,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">59,700,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; padding: 0 0 0 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Offering expenses<SUP>(1)</SUP></B></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Non-contingent underwriting discount (2% of gross proceeds from offering)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,000,000</TD><TD STYLE="text-align: left"><SUP>(2)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,150,000</TD><TD STYLE="text-align: left"><SUP>(2)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Initial trustee fee</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,500</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Legal fees and expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">300,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">300,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Nasdaq listing fee</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">55,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">55,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Printing and engraving expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">45,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">45,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Accounting fees and expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">40,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">40,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">SEC registration fee</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,932</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,932</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">FINRA registration fee</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,031</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,031</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0 0 0 10; text-indent: -10">Miscellaneous</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">36,537</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">36,537</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Total offering expenses (not including the deferred underwriting discount)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,500,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left"><SUP>(3)</SUP></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,650,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left"><SUP>(3)</SUP></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0 0 0 10; text-indent: -10">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Held in the trust account<SUP>(4)</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">50,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">57,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Not held in the trust account<SUP>(5)</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">550,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">550,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>


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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Use of net proceeds not held in the
trust account<SUP>(5)</SUP></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</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 STYLE="text-align: center; padding: 0 0 0 10; text-indent: -10">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">% of Total</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 56%; text-align: left; text-indent: -10; padding: 0 0 0 10">Legal, accounting and other third-party expenses attendant to the search for target businesses and to the due diligence investigation, structuring and negotiation of our initial business combination</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">200,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">36.36</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10; padding: 0 0 0 10">Due diligence of prospective target businesses by insiders</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">70,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12.73</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10; padding: 0 0 0 10">Legal and accounting fees relating to SEC reporting obligations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">40,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7.27</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10; padding: 0 0 0 10">Consulting, travel and miscellaneous expenses incurred during search for initial business combination target</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">70,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12.73</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Working capital to cover miscellaneous expenses, including D&amp;O insurance</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">170,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left"><SUP>(5)</SUP></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">30.91</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-indent: -10; padding: 0 0 0 10">Total</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">550,000</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">100.00</TD><TD STYLE="font-weight: bold; text-align: left">%</TD></TR>
</TABLE>


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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 4%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(1)</FONT></TD>
<TD STYLE="width: 96%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The offering expenses relate to all expenses associated with the offering. However, a portion of the offering expenses, including the SEC registration fee, the FINRA filing fee, the non-refundable portion of the Nasdaq listing fee and a portion of the legal and audit fees, have already been paid from the funds we received as loans from our insiders described below. Therefore, these loans will be repaid using the proceeds of the offering since they were used to pay the offering costs described in the Use of Proceeds table.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(2)</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">No discounts or commissions will be paid with respect to the purchase of the private units.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(3)</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Does not include the deferred underwriting commission in cash payable to Chardan Capital Markets, LLC in an amount equal to 3.0% of the total gross proceeds raised in the offering ($1,500,000, or $1,725,000 if the underwriter&rsquo;s over-allotment option is exercised in full).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(4)</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The funds held in the trust account may, but need not, be used to pay our expenses relating to completing our initial business combination. Such funds held in the trust account include a deferred underwriting commission payable to Chardan Capital Markets, LLC in an amount equal to 3.0% of the total gross proceeds raised in the offering ($1,500,000, or $1,725,000 if the underwriter&rsquo;s over-allotment option is exercised in full).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(5)</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt 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 our initial business combination based upon the level of complexity of that business combination. We do not anticipate any change in the categories of our intended use of proceeds.</FONT></TD></TR>
</TABLE>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">SPK Acquisition LLC has committed to
purchase the private units for an aggregate purchase price of $2,050,000 (or $2,200,000 if the over-allotment option is exercised
in full) from us on a private placement basis simultaneously with the consummation of this offering. All of the proceeds we receive
from these purchases will be placed in the trust account described below.</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">$50,000,000, or $57,500,000 if the
over-allotment option is exercised in full, of net proceeds of this offering and the sale of the private units will be placed
in a trust account in the United States at JPMorgan Chase Bank, maintained by Continental Stock Transfer &amp; Trust Company,
as trustee. The funds held in the trust account will be invested only in United States government treasury bills, bonds or notes
having a maturity of 185 days or less, or in money market funds meeting the applicable conditions under Rule 2a-7 promulgated
under the Investment Company Act of 1940 and that invest solely in U.S. treasuries, so that we are not deemed to be an investment
company under the Investment Company Act. Except with respect to interest earned on the funds held in the trust account that may
be released to us to pay our income or other tax obligations, the proceeds will not be released from the trust account until the
earlier of the completion of our initial business combination or our redemption of 100% of the outstanding public shares if we
have not completed a business combination in the required time period. The proceeds held in the trust account may be used as consideration
to pay the sellers of a target business with which we complete our initial business combination to the extent not used to pay
converting stockholders. Any amounts not paid as consideration to the sellers of the target business may be used to finance operations
of the target business.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">No compensation of any kind (including
finder&rsquo;s fees, consulting fees or other similar compensation) will be paid to our insiders, members of our management team or any
of our or their respective affiliates, for services rendered to us prior to or in connection with the consummation of our initial
business combination (regardless of the type of transaction that it is). However, such individuals will receive reimbursement for
any out-of-pocket expenses incurred by them in connection with activities on our behalf, such as identifying potential target businesses,
performing business due diligence on suitable target businesses and business combinations, as well as traveling to and from the
offices, plants or similar locations of prospective target businesses to examine their operations. Since the role of present management
after our initial business combination is uncertain, we have no ability to determine what remuneration, if any, will be paid to
those persons after our initial business combination.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The net proceeds from this offering
available to us out of trust for our working capital requirements in searching for our initial business combination will be approximately
$550,000.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The allocation of the net proceeds available
to us outside of the trust account represents our best estimate of the intended uses of these funds. In the event that our assumptions
prove to be inaccurate, we may reallocate some of such proceeds within the above described categories. If our estimate of the costs
of undertaking due diligence and negotiating our initial 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. In this
event, we could seek such additional capital through loans or additional investments from our insiders, members of our management
team or third parties, but our insiders, members of our management team or third parties are not under any obligation to advance
funds to, or invest in, us.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We will likely use substantially all
of the net proceeds of this offering, including the funds held in the trust account, in connection with our initial business combination
and to pay our expenses relating thereto, including the deferred underwriting commission payable to Chardan Capital Markets, LLC
in an amount equal to 3.0% of the total gross proceeds raised in the offering upon consummation of our initial business combination.
To the extent that our capital stock is used in whole or in part as consideration to effect our initial business combination, the
proceeds held in the trust account which are not used to consummate a business combination will be disbursed to the combined company
and will, along with any other net proceeds not expended, be used as working capital to finance the operations of the target business.
Such working capital funds could be used in a variety of ways, including continuing or expanding the target business&rsquo; operations,
for strategic acquisitions and for marketing, research and development of existing or new products.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">To the extent we are unable to consummate
a business combination, we will pay the costs of liquidation from our remaining assets outside of the trust account. If such funds
are insufficient, our insiders have agreed to pay the funds necessary to complete such liquidation (currently anticipated to be
no more than $15,000) and have agreed not to seek repayment of such expenses.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We believe that, upon consummation of
this offering, we will have sufficient available funds to operate for up to the next 9 months (or 12 or 15 months if our time to
complete a business combination is extended as described herein), assuming that our initial business combination is not consummated
during that time. However, if necessary, in order to meet our working capital needs following the consummation of this offering,
our insiders 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 lender&rsquo;s discretion, up to $1,500,000 of the notes may be converted
upon consummation of our business combination into additional private units at a price of $10 per unit. Our stockholders have approved
the issuance of the private units upon conversion of such notes, to the extent the holder wishes to so convert such notes at the
time of the consummation of our initial business combination. If we do not complete a business combination, any loans and advances
from our insiders or their affiliates, will be repaid only from amounts remaining outside our trust account, if any.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">A public stockholder will be entitled
to receive funds from the trust account only in the event of (1) our redemption of 100% of the outstanding public shares if we
have not completed a business combination in the required time period, (2) if that public stockholder elects to convert public
shares in connection with a stockholder vote or (3) if that public stockholder sells shares to us in any tender offer in connection
with a proposed business combination. In no other circumstances will a public stockholder have any right or interest of any kind
to or in the trust account.</P>

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

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_006"></A>DIVIDEND POLICY</B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We have not paid any cash dividends
on our shares of 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 subsequent to the completion of our initial business combination 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 dividends subsequent to our initial business combination will be within the discretion of our board of directors
at such time. It is the present intention of our board of directors to retain all earnings, if any, for use in our business operations
and, accordingly, our board of directors does not anticipate declaring any dividends in the foreseeable future. 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, including pursuant to Rule 462(b) under the Securities Act, in which case we will
effect a stock dividend immediately prior to the consummation of the offering in such amount as to maintain our insiders&rsquo; ownership
at an aggregate of 20.0% of our issued and outstanding shares of our common stock upon the consummation of this offering (not including
the private units and underlying securities and assuming our insiders do not purchase units in this offering). Further, if we incur
any indebtedness in connection with our initial business combination, our ability to declare dividends may be limited by restrictive
covenants we may agree to in connection therewith.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_007"></A>DILUTION</B>&nbsp;&nbsp;</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The difference between the public offering
price per share and the pro forma net tangible book value per share after this offering constitutes the dilution to investors in
this offering. 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 shares of common stock which may be converted into cash), by the number of
outstanding shares of common stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At February 10, 2021, our net tangible book value
was $(63,125) or approximately $(0.04) per share. For purposes of the dilution calculation, in order to present the maximum estimated
dilution as a result of this offering, we have assumed (i) the issuance of 0.10 of a share for each right outstanding, as such issuance
will occur upon a business combination without the payment of additional consideration, (ii) the number of shares included in the units
offered hereby will be deemed to be 5,500,000 (consisting of 5,000,000 shares included in the units we are offering by this prospectus
and 500,000 shares for the outstanding rights),(iii) the issuance of private placement units deemed to be 225,500 (consisting of 205,000
shares included in the private placement and 20,500 for the outstanding rights) and the price per share in this offering will be deemed
to be $9.09. Founders shares are assumed to be 1,250,000 (or 1,437,500 if the underwriters exercise their over-allotment option
in full) reflecting the forfeiture of 187,500 shares should the underwriters not exercise their over-allotment option in full. After
giving effect to the sale of 5,000,000 (or 5,750,000 if the underwriters exercise their over-allotment option in full) shares of common
stock included in the units we are offering by this prospectus, and the deduction of underwriting discounts and estimated expenses of
this offering, and the sale of the private units, our pro forma net tangible book value at February 10, 2021 would have been $5,000,005
or $1.93 per share (or $1.73 per share if the underwriters exercise their over-allotment option in full), representing
an immediate increase in net tangible book value of $1.97 (or $1.77 if the underwriters exercise their over-allotment option
in full) per share to our insiders and an immediate dilution of $7.16 (or $7.36 if the underwriters exercise their over-allotment
option in full) per share or 78.8% (or 80.9% if the underwriters exercise their over-allotment option in full) to new investors
not exercising their conversion rights.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For purposes of presentation, our pro forma
net tangible book value after this offering is $44,074,370 (or $51,349,370 if the underwriters exercise their over-allotment
option in full) less than it otherwise would have been because if we effect our initial business combination, the conversion rights
of the public stockholders (but not our insiders) may result in the conversion or tender of up to $4,407,437 (or $5,134,937
if the underwriters exercise their over-allotment option in full) shares sold in this offering.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table illustrates the
dilution to our public stockholders on a per-share basis.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></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 STYLE="text-align: center; padding: 0 0 0 10; text-indent: -10">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center">Exercise of</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; padding: 0 0 0 10; text-indent: -10">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center">No exercise of</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center">over-allotment</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; padding: 0 0 0 10; text-indent: -10">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center">over-allotment</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center">option</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; padding: 0 0 0 10; text-indent: -10">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">option</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">in full</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 56%; padding: 0 0 0 10; text-indent: -10">Public offering price</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">9.09</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">9.09</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Net tangible book value before this offering</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(0.04</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(0.04</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Increase attributable to new investors</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1.97</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1.77</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Pro forma net tangible book value after this offering
    and the sale of the units</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1.93</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1.73</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Dilution to new investors</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">7.16</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">7.36</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Percentage of dilution to new investors</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">78.8</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">80.9</TD><TD STYLE="text-align: left">%</TD></TR>
</TABLE>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">The following table sets forth information with respect to
our insiders and the new investors:</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"></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 STYLE="text-align: center; padding: 0 0 0 10; text-indent: -10">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Shares purchased</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total consideration</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Average</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; padding: 0 0 0 10; text-indent: -10">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Shares</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Percentage</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Percentage</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Price per Share</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 35%; text-align: left; text-indent: -10; padding: 0 0 0 10">Initial shareholders &mdash; Initial Shares
    <SUP>(1)</SUP></TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">1,250,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">17.86</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">25,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">0.05</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">0.02</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10; padding: 0 0 0 10">Public stockholders (including underlying shares of rights)
    <SUP>(2)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">78.57</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">50,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">96.02</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">9.09</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10; padding: 0 0 0 10">Private units (including underlying shares of rights)
    <SUP>(3)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">225,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.22</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,050,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3.94</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">9.09</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0 0 0 10; text-indent: -10">Representative shares</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">25,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">0.35</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0 0 0 10; text-indent: -10">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">7,000,500</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100.00</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">52,075,000</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100.00</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>


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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 4%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(1)</FONT></TD>
<TD STYLE="width: 96%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Assumes over-allotment is not exercised and the forfeiture of an aggregate of 187,500 insider shares.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">(2)</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">Includes the issuance of an additional 500,000 shares
underlying the rights contained in the new investors, or an additional 575,000 shares if the underwriters exercise their over-allotment
option in full.</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(3)</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Includes the issuance of an additional 20,500 shares underlying the rights contained in the private unit holders, or an additional&nbsp;22,000 shares if the underwriters exercise their over-allotment option in full.</FONT></TD></TR>
</TABLE>


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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The pro forma net tangible book value
per share after the offering and the sale of the private units is calculated as follows:</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></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 STYLE="text-align: center; padding: 0 0 0 10; text-indent: -10">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center">Without</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center">With</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; padding: 0 0 0 10; text-indent: -10">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Over-allotment</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Over-allotment</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; padding: 0 0 0 10; text-indent: -10">Numerator:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 56%; text-align: left; padding: 0 0 0 10; text-indent: -10">Net tangible book value before this offering</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">(63,125</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">(63,125</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Net proceeds from this offering and sale of the private
    placement units, net of expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50,550,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">58,050,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Plus: Offering costs accrued in advance, excluded from
    tangible book value</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">87,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">87,500</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Less: Deferred underwriting fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,500,000</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,725,000</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Less: Proceeds held in trust subject to redemption to
    maintain net tangible assets of $5,000,001</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(44,074,370</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(51,349,370</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0 0 0 10; text-indent: -10">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">5,000,005</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">5,000,005</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; padding: 0 0 0 10; text-indent: -10">Denominator:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Shares of common stock outstanding prior to this offering</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,250,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,437,500</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Shares of common stock included in the units offered</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,750,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Shares of common stock underlying the rights to be included
    in the public units</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">575,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Shares of common stock included in the private units</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">205,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">220,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Shares of common stock underlying the rights to be included
    in the private units</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">28,750</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0 0 0 10; text-indent: -10">Representative shares</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Less: Shares subject to redemption</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(4,407,437</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(5,134,937</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0 0 0 10; text-indent: -10">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">2,593,063</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">2,898,313</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>







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



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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="width: 96%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reflects the forfeiture of an aggregate of 187,500 insider shares.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_008"></A>CAPITALIZATION</B>&nbsp;&nbsp;</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table sets forth our
capitalization at February 10, 2021 and as adjusted to give effect to the sale of our units offered by this prospectus and the
private units and the application of the estimated net proceeds derived from the sale of such securities:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</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 STYLE="text-align: center; padding: 0 0 0 10; text-indent: -10">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="text-align: center; border-bottom: Black 1pt solid">February 10, 2021</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; padding: 0 0 0 10; text-indent: -10">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Actual</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>As Adjusted<SUP>(1)</SUP></B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 56%; text-align: left; padding: 0 0 0 10; text-indent: -10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes
payable to related party<SUP>(2)</SUP></FONT></TD><TD STYLE="width: 8%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; text-align: right">200,000</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Deferred underwriting commissions payable</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,500,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Common stock, $.0001 par value; 0 and 4,407,437 shares
    which are subject to redemption</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><P STYLE="margin: 0; font: 10pt/107% Times New Roman, Times, Serif">44,074,370</P></TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Stockholders&rsquo; equity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10; padding: 0 0 0 10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common
    stock, $.0001 par value, 5,000,000 shares authorized (actual); 1,437,500 shares issued and outstanding, actual; 2,072,563<SUP>(3)
    </SUP>shares issued and outstanding (excluding 4,407,437 shares subject to possible conversion/tender), as adjusted</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">144</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">207</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Additional paid-in capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">24,856</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,000,423</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Accumulated deficit</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(625</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(625</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Total stockholders&rsquo; equity</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">24,375</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">5,000,005</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Total capitalization</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">224,375</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">50,574,375</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>


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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="width: 96%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes the $2,050,000 in aggregate we will receive from the sale of the private units. Assumes the over-allotment option has not been exercised.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our sponsor has agreed to loan us $200,000 to be used for a portion of the expenses of this offering. As of February 10, 2021, $200,000 was outstanding under the promissory note with our sponsor to be used for a portion of the expenses of this offering</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assumes the over-allotment option has not been exercised and an aggregate of 187,500 insider shares have been forfeited by our insiders as a result thereof.</FONT></TD></TR>
</TABLE>
<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"></P>

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<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-align: center"><B><A NAME="a_009"></A>MANAGEMENT&rsquo;S DISCUSSION AND ANALYSIS<BR>
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We were formed on December 31, 2020
for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization
or other similar business combination with one or more target businesses. Our efforts to identify a prospective target business
will not be limited to a particular industry or geographic region, although the Company intends to focus on operating businesses
in the TMT sector in Asia. We intend to utilize cash derived from the proceeds of this offering and the private placement of the
private units, our securities, debt or a combination of cash, securities and debt, in effecting our initial business combination.
The issuance of additional shares of common stock or preferred stock in our initial business combination:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%; text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="width: 94%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">may significantly dilute the equity interest of our investors in this offering who would not have pre-emption rights in respect of any such issuance;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">may subordinate the rights of holders of shares of common stock if we issue shares of preferred stock with rights senior to those afforded to our shares of common stock;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">will likely cause a change in control if a substantial number of our shares of common stock are issued, which may affect, among other things, our ability to use our net operating loss carry forwards, if any, and most likely will also result in the resignation or removal of our present officers and directors; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">may adversely affect prevailing market prices for our securities.</FONT></TD></TR>
</TABLE>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Similarly, if we issue debt securities,
it could result in:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%; text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="width: 94%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">default and foreclosure on our assets if our operating revenues after our initial business combination are insufficient to pay our debt obligations;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">acceleration of our obligations to repay the indebtedness even if we have made all principal and interest payments when due if the debt security contains covenants that required the maintenance of certain financial ratios or reserves and we breach any such covenant without a waiver or renegotiation of that covenant;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt 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>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">our inability to obtain additional financing, if necessary, if the debt security contains covenants restricting our ability to obtain additional financing while such security is outstanding; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt 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/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We have neither engaged in any operations
nor generated any revenues to date. Our entire activity since inception has been to prepare for our proposed fundraising through
an offering of our equity securities.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Results of Operations and Known Trends or Future Events</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-align: justify">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.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Liquidity and Capital Resources</B>&nbsp;</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-align: justify">As indicated in the accompanying financial
statements, at February 10, 2021, we had $162,500 in cash and a working capital deficit of $63,125. Further, we have incurred
and expect to continue to incur significant costs in pursuit of our financing and acquisition plans. Management plans to address
this uncertainty through this offering. We cannot assure you that our plans to raise capital or to consummate an initial business
combination will be successful. These factors, among others, raise substantial doubt about our ability to continue as a going
concern.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Our liquidity needs have been satisfied
to date through receipt of approximately $25,000 from the sale of the insider shares and a $200,000 loan from our sponsor that
is more fully described below. Our deferred offering costs&nbsp;paid through February 10, 2021 have been $62,500. We estimate
that the net proceeds from (1) the sale of the units in this offering, after deducting estimated offering expenses of approximately
$500,000 and underwriting discounts and commissions payable in cash of $1,000,000 (or&nbsp;$1,150,000 if the over-allotment option
is exercised in full) and (2) the sale of the private units for a purchase price of $2,050,000 (or $2,200,000 if the over-allotment
option is exercised in full), will be $50,550,000 (or $58,050,000 if the over-allotment option is exercised in full). $50,000,000
(or&nbsp;$57,500,000 if the over-allotment option is exercised in full), which includes $1,500,000 of deferred underwriting commissions
($1,725,000 if the underwriter&rsquo;s over-allotment option is exercised in full) payable in cash will be held in the trust account.
The remaining $550,000 will not be held in the trust account.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We intend to use substantially all of
the net proceeds of this offering, including the funds held in the trust account, in connection with our initial business combination
and to pay our expenses relating thereto, including a deferred underwriting commission payable to the underwriters in an amount
equal to 3.0% of the total gross proceeds raised in the offering upon consummation of our initial business combination. To the
extent that our capital stock is used in whole or in part as consideration to effect our initial business combination, the remaining
proceeds held in the trust account as well as any other net proceeds not expended will be used as working capital to finance the
operations of the target business. Such working capital funds could be used in a variety of ways including continuing or expanding
the target business&rsquo; operations, for strategic acquisitions and for marketing, research and development of existing or new products.
Such funds could also be used to repay any operating expenses or finders&rsquo; fees which we had incurred prior to the completion of
our initial business combination if the funds available to us outside of the trust account were insufficient to cover such expenses.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We believe that, upon consummation
of this offering, the $550,000 of net proceeds not held in the trust account along with the $162,500 cash at February 10, 2021,
will be sufficient to allow us to operate for at least the next 9 months (or 12 or 15 months if we have extended the period of
time as described in this prospectus), assuming that a business combination is not consummated during that time. Over this time
period, we will be using these funds for identifying and evaluating prospective business combination candidates, performing business
due diligence on prospective target businesses, traveling to and from the offices, plants or similar locations of prospective
target businesses, reviewing corporate documents and material agreements of prospective target businesses, selecting the target
business to consummate our initial business combination with and structuring, negotiating and consummating the business combination.
We anticipate that we will incur approximately:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="width: 94%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$200,000 of expenses for the legal, accounting and other third-party expenses attendant to the due diligence investigations, structuring and negotiating of our initial business combination;</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$70,000 of expenses for the due diligence and investigation of a target business by our officers, directors and insiders;</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$40,000 of expenses in legal and accounting fees relating to our SEC reporting obligations;</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$70,000 for the consulting, travel and miscellaneous expenses incurred during search for initial business combination target; and</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$170,000 for general working capital that will be used for miscellaneous expenses, including D&amp;O insurance.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">If our estimates of the costs of undertaking
due diligence and negotiating our 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. Moreover, we may need to obtain
additional financing either to consummate our initial business combination or because we become obligated to convert a significant
number of our public shares upon consummation of our initial business combination, in which case we may issue additional securities
or incur debt in connection with such business combination. Subject to compliance with applicable securities laws, we would only
consummate such financing simultaneously with the consummation of our initial business combination. Following our initial business
combination, if cash on hand is insufficient, we may need to obtain additional financing in order to meet our obligations.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Related Party Transactions</B>&nbsp;</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-align: justify">On January 28, 2021, SPK Acquisition
LLC, our sponsor purchased 1,437,500 shares of common stock for an aggregate purchase price of $25,000.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On February 10, 2021, SPK Acquisition LLC
loaned us up to $200,000 under an unsecured promissory note to cover expenses related to this offering (the &ldquo;Promissory
Note&rdquo;). At February 10 2021, the Company had $200,000 in borrowings outstanding under the Promissory Note. The loan is payable
without interest at the closing of this offering.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">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. However, in order
to finance transaction costs in connection with an intended initial business combination, our insiders or their affiliates may,
but are not obligated to, loan us funds as may be required. 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. Such loans would be evidenced by promissory notes. The notes would either be paid
upon consummation of our initial business combination, without interest, or, at the lender&rsquo;s discretion, up to $1,500,000&nbsp;of
the notes may be converted upon consummation of our business combination into additional private units at a price of $10.00 per
unit. If we do not complete a business combination, any other outstanding loans from our insiders or their affiliates will be repaid
only from amounts remaining outside our trust account, if any. We believe the purchase price of these units will approximate the
fair value of such units when issued. However, if it is determined that, at the time of issuance, the fair value of such units
exceeds the purchase price, we would record compensation expense for the excess of the fair value of the units on the day of issuance
over the purchase price in accordance with ASC 718 &mdash; Compensation &mdash; Stock Compensation.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Controls and Procedures</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-align: justify">We are not currently required to maintain
an effective system of internal control as defined by Section 404 of the Sarbanes-Oxley Act. We will be required to comply with
the internal control requirements of the Sarbanes-Oxley Act for the fiscal year ending December 31, 2022. Only in the event
that we are deemed to be a large accelerated filer or and accelerated filer and no longer an emerging growth company as defined
in the JOBS Act would we be required to comply with the independent registered public accounting firm attestation requirements.
Further, for as long as we remain an emerging growth company, 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 registered public accounting firm attestation requirement</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">As of the date of this prospectus, we
have not completed an assessment, nor has our independent registered public accounting firm tested our systems, of internal control.
We expect to assess the internal control 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 control. A target business may not be in compliance with the provisions of the Sarbanes-Oxley Act
regarding the adequacy of internal control. Target businesses we may consider for our initial business combination may have internal
controls that need improvement in areas such as:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%; text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="width: 94%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">staffing for financial, accounting and external reporting areas, including segregation of duties;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">reconciliation of accounts;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">proper recording of expenses and liabilities in the period to which they relate;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">evidence of internal review and approval of accounting transactions;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">documentation of processes, assumptions and conclusions underlying significant estimates; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">documentation of accounting policies and procedures.</FONT></TD></TR>
</TABLE>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">When required by Section 404 and once
our management&rsquo;s report on internal control is complete, we will retain our independent registered public accounting firm to audit
and render an opinion on such report. This independent registered public accounting firm may identify additional issues concerning
a target business&rsquo;s internal control while performing its audit of internal control over financial reporting.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Quantitative and Qualitative Disclosures about Market
Risk</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-align: justify">The net proceeds of this offering and
the sale of the private units held in the trust account will be invested 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. Due to the short-term nature of these investments, we believe there
will be no associated material exposure to interest rate risk.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Off-Balance Sheet Arrangements; Commitments and Contractual
Obligations; Quarterly Results</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-align: justify">As of February 10, 2021, we did not
have any off-balance sheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S-K. In connection with this offering,
we have agreed to pay our counsel $150,000 upon closing of the initial public offering and $25,000 upon closing
of the initial business combination No unaudited quarterly operating data is included in this prospectus as we have conducted
no operations to date.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>JOBS Act</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-align: justify">On September 5, 2012, the JOBS Act was
signed into law. 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 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.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">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) provide an auditor&rsquo;s attestation report on our system of internal control 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 auditor&rsquo;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&rsquo;s compensation
to median employee compensation. These exemptions will apply for a period of five years following the completion of our initial
public offering or until we are no longer an &ldquo;emerging growth company,&rdquo; whichever is earlier.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_010"></A>PROPOSED BUSINESS</B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt"><B>General</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">We are a blank check company
formed under the laws of the State of Delaware on December 31, 2020. 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. Our efforts to identify a prospective target business
will not be limited to a particular industry or geographic region, although the Company intends to focus on operating businesses
in Asia focused on the&nbsp;TMT sectors. We do not have any specific business combination under consideration and we have
not (nor has anyone on our behalf), directly or indirectly, contacted any prospective target business or had any substantive discussions,
formal or otherwise, with respect to such a transaction. 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.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt"><B>Background and Competitive Advantage</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">We will seek to leverage our
management team&rsquo;s proprietary network of relationships with corporate executives, private equity, venture and growth capital
funds, investment banking firms, consultants, family offices, and large corporations in order to source, acquire, and support
the operations of the business combination target. Our management team has extensive experience investing in and operating businesses
within the TMT sector in Asia and North America, and we believe that this combination of relationships and expertise will make
us a preferred partner for&nbsp;and allow us to source high-quality combination targets.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">We believe that our management
team brings a unique background and skillset that will be attractive to leading Asia based companies, and will be able to leverage
the following competitive strengths in identifying, structuring, and consummating a business combination:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="text-align: justify; padding-right: 4.7pt; width: 94%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Extensive
network within the Asia TMT sector.</I> We have longstanding relationships with top TMT executives, investors, entrepreneurs,
and investment banks in the Asia region, which will provide us with access to proprietary investment opportunities and strong
deal flow in our target sectors.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: justify; padding-right: 4.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="text-align: justify; padding-right: 4.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>U.S.
capital markets expertise. </I>Our management team and board possess significant U.S. capital markets experience as investors,
investment bankers, and purchasers and sellers of both private and public companies. </FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: justify; padding-right: 4.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="text-align: justify; padding-right: 4.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Cross-border
deal experience between the U.S. and Asia. </I>Our management team has significant experience completing large-scale domestic
and cross-border transactions, involving acquirers and targets located across the U.S. and Asia.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: justify; padding-right: 4.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="text-align: justify; padding-right: 4.7pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>TMT-specific
industry knowledge and operator experience. </I>Our management team has operated, invested in, and advised leading TMT
companies in Asia and the U.S., and are regarded as industry experts within our target sector of TMT.</FONT></TD></TR>
</TABLE>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt"><B>Our Board of Directors and Management</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">Our management team is led by
our Chief Executive Officer, Sophie Ye Tao, our Chief Financial Officer, Philip Chun-Hun Kwan, and three independent directors
who collectively have decades of experience in investing, building and operating businesses focused on the TMT sector in both
Asia and North America. Furthermore, our management team has experience in the U.S. capital markets and understands what investors
look for in a public company. We believe that our team has a strong and complementary set of skills which will allow us to identify
a target, execute a business combination, and maximize value to&nbsp;stockholders.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify"></P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">Sophie Ye Tao, our President
and Chief Executive Officer, has been an active investor in China and the US since 2007. Throughout her investment career, she
has invested in companies including Evernote, 360 DigiTech, Inc. (NASDAQ: QFIN), a leading fintech platform in China, Tricorn
Technology, a leading&nbsp;China-based AI company focused on natural language processing which was later acquired by Tencent in
2020, Shanghai Canxing Culture &amp; Broadcast Company, the largest&nbsp;unscripted content producer in China and Ningmeng Pictures,
a leading Chinese studio focused on television and film production.&nbsp;From 2016 to 2021, Ms. Tao was a partner at Hanfor Capital
Management, a China-based private equity firm&nbsp;and focused on investments in the TMT and consumer industries. She was a co-founder
and partner at Ray Shi Capital Group from 2010 to 2015, a US registered investment adviser focusing on equity investments in Chinese
companies listed in Hong Kong and the U.S. Ms. Tao was the senior investment manager for Greater China at Vision Capital Advisors
in New York City from 2007 to 2010. At Vision, Ms. Tao helped launch and co-managed the Vision Opportunity China Fund, focusing
on sourcing, structuring and investing in small- and medium-sized enterprises in China through reverse mergers, private placements
and private equity. Previously, Ms. Tao worked at Banc of America Securities LLC in New York City in its equity capital markets
group between 2005 and 2007, where she originated and executed convertible bond and other equity&ndash;linked issuances. She also
worked at NERA Economic Consulting in its Chicago and New York City offices between 2003 and 2005 where she helped provide economics
and econometrics analysis and recommendations to multi-national corporations involved in antitrust and securities litigations.
Before that, Ms. Tao worked as a policy consultant at the Organization for Economic Cooperation and Development (OECD) in Paris
from 2001 to 2002, where she advised countries on their economic and regulatory reform policies. Ms. Tao graduated from the Woodrow
Wilson School of Public and International Affairs at Princeton University in 2003 with a Master of Public Affairs (MPA) degree
concentrating in economics and advanced quantitative analysis. She also graduated from the University of International Business
&amp; Economics in Beijing with a Bachelor of Laws degree in 2000.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">As our Chief Financial Officer
and a member of our board of directors, Mr. Philip Chun-Hun Kwan, has spent his career in the TMT industry, as an investor, advisor
and operator since 2004. Mr. Kwan is currently the CEO of Palestra Sports, a sports-focused start-up based in China which he co-founded
in June 2017. From 2010 to 2017, Mr. Kwan was a senior vice president at The Raine Group (&ldquo;Raine&rdquo;), where he was a
founding member of the firm&rsquo;s China practice based in Beijing and subsequently Shanghai. Raine is one of the world&rsquo;s
leading TMT-focused merchant banks, with total assets under management of over $3.5 billion. At Raine, Mr. Kwan provided investment
banking advisory services to leading Chinese and international media and entertainment companies (primarily mergers and acquisitions
and large-scale capital raise transactions), and also worked on the fund side where he helped source and execute direct principal
investments in China. Representative transactions during his time at Raine include the $4.2 billion sale of the Ultimate Fighting
Championship to WME IMG, the sale of 13% of Manchester City Football Group to CMC Capital and CITIC for $400 million, Perfect
World&rsquo;s $250 million investment into Universal Studios&rsquo; film slate, the creation of Flagship Entertainment, the Chinese
film studio co-financed by Warner Bros and CMC Capital, the sale of PPTV to Suning for $420 million, and the spin-off of and $80
million capital raise for IMAX China, among others. In the Singapore region, Mr. Kwan&nbsp;also represented Wego in its
Series A capital raise. Prior to joining Raine, Mr. Kwan worked at Southfield Capital, a middle market private equity firm backed
by Canyon Capital Advisors focused on North American buyouts. During his time at Southfield, he executed a number of leveraged
buyout transactions across a range of different industries. Mr. Kwan started his professional career in the mergers and acquisitions
advisory group at Evercore Partners in New York. He graduated from The Wharton School at the University of Pennsylvania with a
Bachelor of Science in Economics in 2004. Mr. Kwan is currently married to Ms. Tao.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">Mr. Justin Chang serves as an
independent director, and brings us his more than 15 years of technology, product development, and entrepreneurial experience.
Currently, Mr. Chang is the vice president of product at ClassPass, a marketplace aggregator of local fitness, wellness, and beauty
merchants. ClassPass provides customers with a flexible membership that gives them access to 40,000 boutique studios, gyms,
and wellness facilities across 28 countries. He joined ClassPass in 2014 after its seed financing, helping scale the company from
one city to 2,500 cities by leading the engineering, product management, product design, user research, and product operations
teams. In 2019, Mr. Chang helped launch ClassPass China, a localized version of the ClassPass experience. Mr. Chang also
sits on the ClassPass executive team where he oversees global product strategy and product development. Outside ClassPass, Mr.
Chang regularly advises early stage founders and executives on strategy, growth, and product. From 2011 to 2014, Mr. Chang
worked at AHAlife, a luxury e-commerce marketplace, where he led the product development of its merchant portal and
augmented reality shopping experiences. Prior to AHAlife, Mr. Chang co-founded MatchBright in 2006, a career discovery platform
that leveraged big data to help job seekers discover best fit careers, and operated its business until 2010. Mr. Chang began his
career as a consultant for Bain &amp; Company where he advised Fortune 500 companies in consumer products, retail, TMT, banking,
and healthcare industries from 2004 to 2006. Mr. Chang graduated magna cum laude from The Wharton School at the University
of Pennsylvania in 2004 with degrees in Finance and Management.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify"></P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">Mr. Bryant Chou serves as an
independent director, and brings us his experience in corporate finance and the TMT industry across the US, Asia and Europe.
Since 2012, Mr. Chou has been the CEO of Yi Shi Yi Se (Beijing) Culture Communication Co., Ltd. and its predecessor company,
VICE China, where Mr. Chou oversees the launch and expansion of the local entity, leads commercial activities and serves
as the main liaison for key business partners domestically and across the APAC region. Prior to this, Mr. Chou worked at DMG Entertainment,
a Chinese advertising and entertainment agency from 2011 to 2012. From 2007 to 2008, he was a consultant at JL McGregor, a boutique
equity research firm. Mr. Chou began his career in investment banking in New York at Miller Buckfire from 2003 to 2006,
a leading boutique restructuring firm. Mr. Chou graduated from The Wharton School at the University of Pennsylvania in
December 2002, receiving a Bachelor of Science in Economics with concentrations in Finance and Management.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">Mr. Greg Chang&nbsp;serves as an independent director,  and brings his more than 15 years of experience in technology, gaming, business
development, marketing, and entrepreneurship. Since 2020, Mr. Chang has been the general manager of RealTime Technology, a SAAS
company servicing the telecom, retail, and gaming industries. He is also an investor in multiple startups and a mentor at SOSV,
one of the most active VCs in the Asia region. From 2015 until 2019, Mr. Chang was the director of games and mobile, Greater China,
at The Walt Disney Company where he was responsible for popular titles such as Marvel Future Fight, Star Wars Commander, and Disney
TsumTsum. He also developed several multi-million dollar licensing deals with some of the top technology companies in China. From
2013 to 2015, he was the vice president of Asia at Glu Mobile where he initiated Glu&rsquo;s $100M+ strategic partnership and
investment with Tencent and helped launch several popular games including Deer Hunter, Eternity Warriors, and Kim Kardashian:
Hollywood in the region. Prior to that, Mr. Chang was the director of business at NCSoft Taiwan from 2011 to 2012 and vice president
at The Ivy Group (a Temasek portfolio company) from 2009 to 2011. Mr. Chang graduated from the University of California, Berkeley
with a Bachelor of Arts in 2001 and also received an MBA from Columbia Business School in 2009.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt"><B>Our Business Strategy and Acquisition Criteria</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">We intend to focus our efforts
on potential acquisition targets that exhibit compelling long term growth potential and highly defensible market positions. We
believe that our management team&rsquo;s extensive relationships with corporate executives, investors, and entrepreneurs will provide
us with a strong pipeline of potential acquisition opportunities in our target sectors. Our long experience operating and investing
in these sectors in Asia are key differentiators for us compared to other blank check companies, the majority of which we believe
are seeking business combinations exclusively in the U.S. We believe this will allow us to source and execute a business combination
with an attractive target company more quickly, efficiently, and under better terms than our competitors.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">We believe that targeting companies
in Asia is compelling because there is a significant pool of high-quality private companies that could benefit from going public
in the United States. According to CB Insights, there are more than 97 &ldquo;unicorns&rdquo; &ndash; private companies valued
at $1 billion or more &ndash; operating within the TMT sectors in Asia. Relative to U.S. based targets, there have also been comparatively
few business combinations between U.S. listed blank check companies and targets located in Asia. According to FactSet, of 150
SPAC business combinations closed from 2017 through February 2021 only 12 (or 8%) of the total involved Asia-based target companies.
Comparatively speaking, during the same period there were 836 traditional IPOs in US markets of which 125 (or 15%) involved Asia-based
issuers. Given the high level of business formation and development in Asia, and the number of high-quality emerging companies
seeking access to the US capital markets in our network, we believe that we will be able to engage with many leading Asia-based
companies interested in a business combination.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">We have identified the following
general criteria and guidelines as we evaluate prospective target companies.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="text-align: justify; width: 94%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Operating within
the TMT sectors.</I> We intend to seek targets with an enterprise value of approximately $250 million to $1 billion. We will prioritize
targets that are already benefiting from or capitalizing on tailwinds found within their respective TMT sub-sectors.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD>&#9679;</TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Strong management
team.</I> The strength of the management team will be an important component in our review process. We will seek to partner with
a management team that is operationally strong and has demonstrated the ability to scale, but is also well-incentivized and aligned
in our future vision for creating long term shareholder value.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD>&#9679;</TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Strong and defensible
market position.</I> We intend to favor targets that have a strong competitive advantage or are advanced in their penetration
of new and emerging markets. We will target companies that have strong intellectual property, technology, or brand equity within
their respective sectors and that can be further monetized on a global basis.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD>&#9679;</TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Asia-focused but
operating on a global basis.</I> We will seek targets that have already established a strong operating history within Asia, but
which possess a competitive edge to expand into new geographic regions where similar needs exist.</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="width: 3%">&#9679;</TD>
<TD STYLE="text-align: justify; width: 94%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>At a growth inflection
point.</I> &#9;We intend to seek targets that may benefit from capital infusions that will be used to fund higher growth through
expansion into new markets and product offerings.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD>&#9679;</TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Operating in sectors
that are underpenetrated by dominant global players. </I>We will seek targets that are operating in new and emerging sectors that
are not yet dominated by large global players. Ideally, these sectors will also benefit from strong secular tailwinds that will
provide a long runway for industry growth and profitability into the foreseeable future.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD>&#9679;</TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Benefit from
being a public company.</I> We intend to seek targets that may lack experience with the capital markets but that possess the
aspiration to take advantage of improved access to capital that comes from a listing in the U.S. This improved access to
capital could allow the&nbsp;targets to accelerate growth, pursue new projects, retain and hire employees, and expand
into new geographies or businesses. Ultimately, this combination of enhanced liquidity and access to capital markets will
enable our target to accelerate its growth and increase its resulting value.</FONT></TD></TR>
</TABLE>




<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">While we intend to use these
criteria in evaluating the attractiveness of potential business combination opportunities, we may ultimately decide to enter into
an initial business combination with a target business that does not meet these criteria. In the event that we decide to enter
into our initial business combination with a target business that does not meet the above criteria and guidelines, we will disclose
that the target business does not meet the above criteria and guidelines in our&nbsp;stockholders communications related
to our initial business combination, which, as discussed in this prospectus, would be in the form of tender offer documents or
proxy solicitation materials that we would file with the SEC.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">In evaluating a prospective target
business, we expect to conduct a thorough due diligence review that will encompass, among other things, meetings with incumbent
management and employees, document reviews, interviews of customers and suppliers, inspection of facilities, as well as reviewing
financial and other information which will be made available to us. We will also utilize our operational and capital allocation
experience. Our acquisition criteria, due diligence processes and value creation methods 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.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Effecting Our Initial Business Combination</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-align: justify"><B><I>General</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We are not presently engaged in, and
we will not engage in, any substantive commercial business for an indefinite period of time following this offering. We intend
to utilize cash derived from the proceeds of this offering and the private placement of private units, our share capital, debt
or a combination of these in effecting a business combination. Although substantially all of the net proceeds of this offering
and the private placement of private units are intended to be applied generally toward effecting a business combination as described
in this prospectus, the proceeds are not otherwise being designated for any more specific purposes. Accordingly, investors in this
offering are investing without first having an opportunity to evaluate the specific merits or risks of any one or more business
combinations. A business combination may involve the acquisition of, or merger with, a company which does not need substantial
additional capital but which desires to establish a public trading market for its shares, while avoiding what it may deem to be
adverse consequences of undertaking a public offering itself. These include time delays, significant expense, loss of voting control
and compliance with various U.S. Federal and state securities laws. In the alternative, we may seek to consummate a business combination
with a company that may be in its early stages of development or growth. While we may seek to effect simultaneous business combinations
with more than one target business, we will probably have the ability, as a result of our limited resources, to effect only a single
business combination.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>We Have Not Identified a Target
Business</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">To date, we have not selected any target
business on which to concentrate our search for a business combination. None of our&nbsp;insiders and other affiliates
has engaged in discussions on our behalf with representatives of other companies regarding the possibility of a potential merger,
share exchange, asset acquisition or other similar business combination with us, nor have we, nor any of our agents or affiliates,
been approached by any candidates (or representatives of any candidates) with respect to a possible business combination with
us.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Subject to the limitations that a target
business have a fair market value of at least 80% of the balance in the trust account (excluding any deferred underwriting discounts
and commissions and taxes payable on the income earned on the trust account) at the time of the execution of a definitive agreement
for our initial business combination, as described below in more detail, we will have virtually unrestricted flexibility in identifying
and selecting a prospective acquisition candidate. We have not established any other specific attributes or criteria (financial
or otherwise) for prospective target businesses. Accordingly, there is no basis for investors in this offering to evaluate the
possible merits or risks of the target business with which we may ultimately complete a business combination. To the extent we
effect a business combination with a company or an entity in its early stage of development or growth, including entities without
established records of sales or earnings, we may be affected by numerous risks inherent in the business and operations of early
stage or potential emerging growth companies. Although our management will endeavor to evaluate the risks inherent in a particular
target business, we cannot assure you that we will properly ascertain or assess all significant risk factors.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Sources of Target Businesses</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We anticipate that target business
candidates will be brought to our attention from various unaffiliated sources, including investment bankers, venture capital funds,
private equity funds, leveraged buyout funds, management buyout funds and other members of the financial community. Target businesses
may be brought to our attention by such unaffiliated sources as a result of being solicited by us through calls or mailings which
will not commence until after the completion of this offering. These sources may also introduce us to target businesses they think
we may be interested in on an unsolicited basis, since many of these sources will have read this prospectus and know what types
of businesses we are targeting. Our officers and directors, as well as their respective affiliates, may also bring to our attention
target business candidates that they become aware of through their business contacts as a result of formal or informal inquiries
or discussions they may have, as well as attending trade shows or conventions. While we do not presently anticipate engaging the
services of professional firms or other individuals that specialize in business acquisitions on any formal basis, we may engage
these firms or other individuals in the future, in which event we may pay a finder&rsquo;s fee, consulting fee or other compensation
to be determined in an arm&rsquo;s length negotiation based on the terms of the transaction. In no event, however, will any of
our existing insiders, special advisors 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 consummation of a business combination
(regardless of the type of transaction). If we decide to enter into a business combination with a target business that is affiliated
with our insiders, we will do so only if we have obtained an opinion from an independent investment banking firm that the
business combination is fair to our unaffiliated&nbsp;stockholders from a financial point of view. However, as of the date
of this prospectus, there is no affiliated entity that we consider a business combination target.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, as more fully discussed
in &ldquo;Management &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 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. All of our officers, directors and director nominees currently have certain relevant pre-existing fiduciary
duties or contractual obligations.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Fair Market Value of Target Business</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to the rules of the Nasdaq
Stock Market, our initial business combination must occur with one or more target businesses having an aggregate fair market value
of at least 80% of the value of the trust account (excluding any deferred underwriter&rsquo;s fees and taxes payable on the income earned
on the trust account), which we refer to as the 80% test, at the time of the agreement to enter into the initial business combination.
Therefore, the fair market value of the target business will be calculated prior to any conversions of our shares in connection
with a business combination and therefore will be a minimum of $38,800,000 (or $44,620,000 if the over-allotment option is exercised
in full) in order to satisfy the 80% test. While the fair market value of the target business must satisfy the 80% test, the consideration
we pay the owners of the target business may be a combination of cash (whether cash from the trust account or cash from a debt
or equity financing transaction that closes concurrently with the business combination) or our equity securities. The exact nature
and amount of consideration would be determined based on negotiations with the target business, although we will attempt to primarily
use our equity as transaction consideration. 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 with respect to the satisfaction
of such criteria. We will also obtain a fairness opinion from an independent investment banking firm before consummating a business
combination with an entity affiliated with any of our officers, directors or insiders. If we are no longer listed on Nasdaq, we
will not be required to satisfy the 80% test.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">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 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, but we will only complete such business
combination if the post-transaction company owns 50% or more of the outstanding voting securities of the target or otherwise owns
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, or the Investment Company Act. 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-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% test.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Alternative structures to comply
with regulations in certain Chinese industries</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We may need to adopt alternative structures
in the event that we elect to acquire a target company in certain Chinese industries, including the TMT sectors. The Chinese government
has restricted or limited direct foreign ownership of certain kinds of assets and companies operating in a wide variety of industries,
including certain aspects of telecommunications, advertising, food production, airline, and heavy equipment manufacturers etc.
The Chinese government may apply these restrictions in other industries in the future. In addition, there can be restrictions on
the foreign ownership of businesses that are determined from time to time to be in &ldquo;important industries&rdquo; that may affect
the national economic security or having &ldquo;famous Chinese brand names&rdquo; or &ldquo;well established Chinese brand names.&rdquo;
Subject to the review requirements of the Ministry of Commerce and other relevant agencies as discussed elsewhere for acquisitions
of assets and companies in China and subject to the various percentage ownership limitations that exist from time to time, acquisitions
involving foreign investors and parties in the various restricted categories of assets and industries may nonetheless sometimes
be consummated using contractual arrangements with permitted Chinese parties which could, for example, result in a structure where,
in exchange for our payment of the acquisition consideration, the target business would be majority or wholly owned by Chinese
residents whom we designate, and the target business would continue to hold the requisite licenses necessary to operate its business.
To the extent such agreements are employed, they may be for control of specific assets such as intellectual property or control
of blocks of the equity ownership interests of a company. The agreements would be designed to secure for us economic benefits and
to assume risk of losses and control over the subject assets or equity interests similar to the rights of full ownership, while
leaving the technical ownership in the hands of Chinese parties.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">For example, these contracts could result
in a structure where, in exchange for our payment of the acquisition consideration: (i) the target company would be majority owned
by Chinese residents whom would be likely designated by us and the target company would continue to hold the requisite licenses
for the target business and (ii) we would establish a new subsidiary in China which would provide technology, technical support,
consulting and related services to the target company in exchange for fees, which would transfer to us substantially all of the
economic benefits of ownership of the target company.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">These contractual arrangements would
be designed to provide the following:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%">&nbsp;</TD>
<TD STYLE="width: 3%; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="text-align: justify; line-height: 107%; width: 94%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Our exercise of effective control over the target company;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="line-height: 107%">&nbsp;</TD>
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">We will assume economic benefits and risk of losses of the target company that are substantially similar to full ownership;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="line-height: 107%">&nbsp;</TD>
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The shareholders of the target company would grant us a pledged interest in all of the issued and outstanding interests of the target company, including the right to vote such shares, as security for the performance of the target company&rsquo;s obligations under the contractual arrangements;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="line-height: 107%">&nbsp;</TD>
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The shareholders of the target company would grant us an irrevocable proxy for the maximum period permitted by law, to vote the shareholders&rsquo; shares in the target company in such manner and for or against such proposals as we may determine; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="line-height: 107%">&nbsp;</TD>
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD STYLE="line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">We, or our designee, would have an exclusive option to purchase all or part of the equity interests in the target company owned by the Chinese residents whom we designate, or all or part of the assets of the target company, in each case when and to the extent permitted by Chinese regulations.</FONT></TD></TR>
</TABLE>


<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-align: justify">While we cannot predict the terms of
any such contract that we will be able to negotiate, at a minimum, any contractual arrangement would need to provide us with effective
control over the target&rsquo;s operations and management either directly through board control or through affirmative and/or negative
covenants and veto rights with respect to matters such as entry into material agreements, management changes and issuance of debt
or equity securities, among other potential control provisions. We have not, however, established specific provisions which must
be in an agreement in order to meet the definition of business combination.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">These agreements likely also would provide
for increased ownership or full ownership and control by us when and if permitted under Chinese law and regulation. If we choose
to effect our initial business combination that employs the use of these types of control arrangements, we may have difficulty
in enforcing our rights. Therefore, these contractual arrangements may not be as effective in providing us with the same economic
benefits, accounting consolidation or control over a target business as would direct ownership through a merger or shares exchange.
For example, if the target business or any other entity fails to perform its obligations under these contractual arrangements,
we may have to incur substantial costs and expend substantial resources to enforce such arrangements, and rely on legal remedies
under Chinese law, including seeking specific performance or injunctive relief, and claiming damages, which we cannot assure you
will be sufficient to off-set the cost of enforcement and may adversely affect the benefits we expect to receive from the business
combination.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">While we believe under such contractual
arrangement, we will be considered the primary beneficiary and be able to consolidate financial results of the target company in
our consolidated financial statements. In the event that in the future generally accepted accounting policies in the United States
and the SEC accounting regulations change and we are deemed not to be the primary beneficiary by controlling the target company
through such contractual arrangement, we would not be able to consolidate line by line the target company&rsquo;s financial results in
our consolidated financial statements.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Moreover, we expect that the contractual
arrangements upon which we would be relying would be governed by Chinese law and would be the only basis of providing resolution
of disputes which may arise through either arbitration or litigation in China. Accordingly, these contracts would be interpreted
in accordance with Chinese law and any disputes would be resolved in accordance with Chinese legal procedures. Uncertainties in
the Chinese legal system could limit our ability to enforce these contractual arrangements. In the event we are unable to enforce
these contractual arrangements, we may not be able to exert the effective level of control over the target business.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We have not selected any target business
or target industry on which to concentrate our search for our initial business combination and we are, therefore, unable to determine
at this time what form an acquisition of a target business will take.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Stockholder Approval of Business
Combination</I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">In connection with any proposed business
combination, we will either (1) seek stockholder approval of our initial business combination at a meeting called for such purpose
at which public stockholders (but not our insiders, officers or directors) may seek to convert their shares of common stock, regardless
of whether they vote for or against the proposed business combination, into a portion of the aggregate amount then on deposit in
the trust account, or (2) provide our stockholders with the opportunity to sell their shares to us by means of a tender offer (and
therefore 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, in each case subject to the limitations described herein. If we determine to engage in a tender offer, such
tender offer will be structured so that each stockholder may tender all of his, her or its shares rather than some pro rata portion
of his, her or its shares. The decision as to whether we will seek stockholder approval of a proposed business combination or whether
we 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. We anticipate that our business combination could be completed by way of a merger, share
exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar transaction. Stockholder approval
will not be required under Delaware law if the business combination is structured as an acquisition of assets of the target company,
a share exchange with target company stockholders or a purchase of stock of the target company; however, Nasdaq rules would require
us to obtain stockholder approval if we seek to issue shares representing 20% or more of our outstanding shares as consideration
in a business combination. A merger of our company into a target company would require stockholder approval under Delaware law.
A merger of a target company into our company would not require stockholder approval unless the merger results in a change to our
certificate of incorporation, or if the shares issued in connection with the merger exceed 20% of our outstanding shares prior
to the merger. A merger of a target company with a subsidiary of our company would not require stockholder approval unless the
merger results in a change in our certificate of incorporation; however, Nasdaq rules would require us to obtain stockholder approval
of such a transaction if we week to issue shares representing 20% or more of our outstanding shares as consideration.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">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 provide our stockholders with an opportunity
to tender their shares to us pursuant to a tender offer pursuant to Rule 13e-4 and Regulation 14E of the Exchange Act, which regulate
issuer tender offers, and we will file tender offer documents with the SEC which will contain substantially the same financial
and other information about the initial business combination as is required under the SEC&rsquo;s proxy rules.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">In the event we allow stockholders to
tender their shares pursuant to the tender offer rules, our tender offer 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 purchase public shares
in an amount that would cause our net tangible assets to be less than $5,000,001 (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.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">If, however, stockholder approval of
the transaction is required by law or Nasdaq requirements, or we decide to obtain stockholder approval for business or other legal
reasons, we will:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 3%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="width: 94%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">permit stockholders to convert their shares 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>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">file proxy materials with the SEC.</FONT></TD></TR>
</TABLE>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">In the event that we seek stockholder
approval of our initial business combination, we will distribute proxy materials and, in connection therewith, provide stockholders
with the conversion rights described above upon completion of the initial business combination.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We will consummate our initial business
combination only if public stockholders do not exercise conversion rights in an amount that would cause our net tangible assets
to be less than $5,000,001 and a majority of the outstanding shares of common stock voted are voted in favor of the business combination.
As a result, if stockholders owning approximately 87% (or approximately 88% if the over-allotment option is exercised in full)
or more of the shares of common stock sold in this offering exercise conversion rights, the business combination will not be consummated.
However, the actual percentages will only be able to be determined once a target business is located and we can assess all of the
assets and liabilities of the combined company (which would include the fee payable to the underwriters in an amount equal to 3.0%
of the total gross proceeds raised in the offering as described elsewhere in this prospectus, any out-of-pocket expenses incurred
by our insiders or their affiliates in connection with certain activities on our behalf, such as identifying and investigating
possible business targets and business combinations that have not been repaid at that time, as well as any other liabilities of
ours and the liabilities of the target business) upon consummation of the proposed business combination, subject to the requirement
that we must have at least $5,000,001 of net tangible assets upon closing of such business combination. As a result, the actual
percentages of shares that can be converted may be significantly lower than our estimates. We chose our net tangible asset threshold
of $5,000,001 to ensure that we would avoid being subject to Rule 419 promulgated under the Securities Act. However, if we seek
to consummate an initial business combination with a target business that imposes any type of working capital closing condition
or requires us to have a minimum amount of funds available from the trust account upon consummation of such initial business combination,
our net tangible asset threshold may limit our ability to consummate such initial business combination (as we may be required to
have a lesser number of shares converted) and may force us to seek third-party financing which may not be available on terms acceptable
to us or at all. As a result, we may not be able to consummate such initial business combination and we may not be able to locate
another suitable target within the applicable time period, if at all. Public stockholders may therefore have to wait 9 months from
the closing of this offering (or 12 or 15 months if we have extended the period of time as described in this prospectus) in order
to be able to receive a portion of the trust account.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Our insiders, including our officers
and directors, have agreed (1) to vote any shares of common stock owned by them in favor of any proposed business combination,
(2) not to convert any shares of common stock into the right to receive cash from the trust account in connection with a stockholder
vote to approve a proposed initial business combination or a vote to amend the provisions of our certificate of incorporation relating
to stockholders&rsquo; rights or pre-business combination activity and (3) not to sell any shares of common stock in any tender in connection
with a proposed initial business combination.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Depending on how a business combination
was structured, any stockholder approval requirement could be satisfied by obtaining the approval of either (i) a majority of
the shares of our common stock that were voted at the meeting (assuming a quorum was present at the meeting), or (ii) a majority
of the outstanding shares of our common stock. Because our insiders, including our officers and directors, will collectively beneficially
own approximately 22.45% of our issued and outstanding shares of common stock (not including the private units and underlying
securities and assuming our insiders do not purchase any units in this offering) upon consummation of this offering, a minimum
of approximately 165,001 public shares, or approximately 3.28% of the outstanding shares of our common stock (if the approval
requirement was a majority of shares voted and the minimum number of shares required for a quorum attended the meeting and assuming
the over-allotment option has not been exercised and an aggregate of 187,500 insider shares have been forfeited as a result thereof),
would need to be voted in favor a business combination in order for it to be approved.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">None of our insiders or their affiliates
has indicated any intention to purchase units or shares of common stock from persons in the open market or in private transactions.
However, if we seek stockholder approval of a business combination and if we hold a meeting to approve a proposed business combination
and a significant number of stockholders vote, or indicate an intention to vote, against such proposed business combination, we
or our insiders or their affiliates could make such purchases in the open market or in private transactions in order to influence
the vote. 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. No funds from the trust account can be released from the trust account prior
to the consummation of a business combination to make such purchases (although such purchases could be made using funds available
to us after the closing of a business combination). 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. Notwithstanding the foregoing, we or our insiders or their affiliates
will not make purchases of shares of common stock if the purchases would violate Sections 9(a)(2) or 10(b) of the Exchange Act
or Regulation M, which are rules that prohibit manipulation of a company&rsquo;s stock, and we and they will comply with Rule 10b-18
under the Exchange Act in connection with any open-market purchases. If purchases cannot be made without violating applicable law,
no such purchases will be made. 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 &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. Our insiders anticipate
that they may identify the stockholders with whom our insiders 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 insiders 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.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Ability to Extend Time to Complete
Business Combination </I></B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We will have until 9 months from the
closing of this offering (or 15 months from the closing of this offering if we have filed a proxy statement, registration statement
or similar filing for an initial business combination within 9 months from the closing of this offering but have not completed
the initial business combination within such 9-month period) to consummate our initial business combination. In addition, if we
anticipate that we may not be able to consummate our initial business combination within 9 months and we have not filed a proxy
statement, registration statement or similar filing for an initial business combination by such date, our insiders or their affiliates
may, but are not obligated to, extend the period of time to consummate a business combination two times by an additional three
months each time (for a total of up to 15 months to complete a business combination), provided that, 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, the only way to extend the time available for us to consummate our
initial business combination in the absence of a proxy statement, registration statement or similar filing is for our insiders
or their affiliates or designees, upon five days&rsquo; advance notice prior to the applicable deadline, to deposit into the trust
account $500,000, or $575,000 if the over-allotment option is exercised in full ($0.10 per share in either case, or an aggregate
of $1,000,000 (or $1,150,000 if the over-allotment option is exercised in full)), on or prior to the date of the applicable deadline.
In the event that they elected to extend the time to complete a business combination and deposited the applicable amount of money
into trust, the insiders would receive a non-interest bearing, unsecured promissory note equal to the amount of any such deposit
that will not be repaid in the event that we are unable to close a business combination unless there are funds available outside
the trust account to do so. Such notes would either be paid upon consummation of our initial business combination, or, at the
relevant insider&rsquo;s discretion, converted upon consummation of our business combination into additional private units at
a price of $10.00 per unit. Our&nbsp;stockholders have approved the issuance of the private units upon conversion of such
notes, to the extent the holder wishes to so convert such notes at the time of the consummation of our initial business combination.
In the event that we receive notice from our insiders five days prior to the applicable deadline of their intent 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 insiders 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. To the extent that some, but not all, of our insiders, decide to extend
the period of time to consummate our initial business combination, such insiders (or their affiliates or designees) may deposit
the entire amount required. If we are unable to consummate our initial business combination within such time period, we will,
as promptly as possible but not more than ten business days thereafter, redeem 100% of our outstanding public shares for a pro
rata portion of the funds held in the trust account, including a pro rata portion of any interest earned on the funds held in
the trust account and not previously released to us to pay our taxes, and then seek to dissolve and liquidate. However, we may
not be able to distribute such amounts as a result of claims of creditors which may take priority over the claims of our public
stockholders. In the event of our dissolution and liquidation, the private units will expire and will be worthless.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Conversion Rights</B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">At any meeting called to approve an
initial business combination, any public stockholder, whether voting for or against such proposed business combination, will be
entitled to demand that his or her shares of common stock be converted for a full pro rata portion of the amount then in the trust
account (initially $10.00 per share), plus any pro rata interest earned on the funds held in the trust account and not previously
released to us or necessary to pay our taxes. Alternatively, we may provide our public stockholders with the opportunity to sell
their shares of our common stock to us through 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, net of taxes payable.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Notwithstanding the foregoing, a public
stockholder, together with any affiliate of his or hers or any other person with whom he or she is acting in concert or as a &ldquo;group&rdquo;
(as defined in Section 13(d)(3) of the Exchange Act), will be restricted from seeking conversion rights with respect to 20% or
more of the shares of common stock sold in this offering. Such a public stockholder would still be entitled to vote against a proposed
business combination with respect to all shares of common stock owned by him or her, or his or her affiliates. We believe this
restriction will prevent stockholders from accumulating large blocks of shares before the vote held to approve a proposed business
combination and attempt to use the conversion right as a means to force us or our management to purchase their shares at a significant
premium to the then current market price. By not allowing a stockholder to convert more than 20% of the shares of common stock
sold in this offering, we believe we have limited the ability of a small group of stockholders to unreasonably attempt to block
a transaction which is favored by our other public stockholders.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">None of our insiders will have the right
to receive cash from the trust account in connection with a stockholder vote to approve a proposed initial business combination
or a vote to amend the provisions of our certificate of incorporation relating to stockholders&rsquo; rights or pre-business combination
activity with respect to any shares of common stock owned by them, directly or indirectly, whether acquired prior to this offering
or purchased by them in this offering or in the aftermarket.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We may also require public stockholders
who wish to convert, whether they are a record holder or hold their shares in &ldquo;street name,&rdquo; to either tender their certificates
to our transfer agent at any time through the vote on the business combination 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 proxy
solicitation materials that we will furnish to stockholders in connection with the vote for any proposed business combination will
indicate whether we are requiring stockholders to satisfy such delivery requirements. Accordingly, a stockholder would have from
the time the stockholder received our proxy statement through the vote on the business combination to deliver his or her shares
if he or she wishes to seek to exercise his or her conversion rights. Under Delaware law and our bylaws, we are required to provide
at least 10 days&rsquo; advance notice of any stockholder meeting, which would be the minimum amount of time a public stockholder would
have to determine whether to exercise conversion rights.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">There is a nominal cost associated with
the above-referenced delivery process and the act of certificating the shares or delivering them through the DWAC System. The transfer
agent will typically charge the tendering broker $45.00 and it would be up to the broker whether or not to pass this cost on to
the holder. However, this fee would be incurred regardless of whether or not we require holders to deliver their shares prior to
the vote on the business combination in order to exercise conversion rights. This is because a holder would need to deliver shares
to exercise conversion rights regardless of the timing of when such delivery must be effectuated. However, in the event we require
stockholders to deliver their shares prior to the vote on the proposed business combination and the proposed business combination
is not consummated, this may result in an increased cost to stockholders.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The foregoing is different from the
procedures used by many blank check companies. Traditionally, in order to perfect conversion rights in connection with a blank
check company&rsquo;s business combination, the company 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 conversion 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 consummation 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 conversion 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 conversion rights,
to which stockholders were aware they needed to commit before the stockholder meeting, would become a &ldquo;continuing&rdquo; right
surviving past the consummation of the business combination until the holder delivered its certificate.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The requirement for physical or electronic
delivery prior to the meeting ensures that a holder&rsquo;s election to convert his or her shares is irrevocable once the business combination
is approved.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Any request to convert such shares once
made may be withdrawn at any time up to the vote on the proposed business combination. Furthermore, if a holder of a public share
delivered his or her certificate in connection with an election of their conversion and subsequently decides prior to the vote
on the proposed business combination not to elect to exercise such rights, he or she may simply request that the transfer agent
return the certificate (physically or electronically).</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">If the initial business combination
is not approved or completed for any reason, then our public stockholders who elected to exercise their conversion rights would
not be entitled to convert their shares for the applicable pro rata share of the trust account. In such case, we will promptly
return any shares delivered by public holders.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Liquidation if No Business Combination</B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">If we do not complete a business combination
within 9 months (or 15 months from the closing of this offering if we have filed a proxy statement, registration statement or
similar filing for an initial business combination within 9 months from the closing of this offering but have not completed the
initial business combination within such 9-month period) from the closing of this, we will (i)&nbsp;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 outstanding public shares 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 the case of (ii) and (iii) above)
to our obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law. At such
time, the rights will expire and holders of the rights will receive nothing upon a liquidation with respect to such rights, and
the rights will be worthless. However, if we anticipate that we may not be able to consummate our initial business combination
within 9 months and we have not filed a proxy statement, registration statement or similar filing for an initial business combination
by such date, our insiders or their affiliates may, but are not obligated to, extend the period of time to consummate a business
combination two times by an additional three months each time (for a total of up to 15 months to complete a business combination),
provided that, 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, the only way to extend the
time available for us to consummate our initial business combination in the absence of a proxy statement, registration statement
or similar filing is for our insiders or their affiliates or designees, upon five days&rsquo; advance notice prior to the applicable
deadline, to deposit into the trust account $500,000, or $575,000 if the over-allotment option is exercised in full ($0.10 per
share in either case, or an aggregate of $1,000,000 (or $1,150,000 if the over-allotment option is exercised in full)), on or
prior to the date of the applicable deadline. In the event that they elected to extend the time to complete a business combination
and deposited the applicable amount of money into trust, the insiders would receive a non-interest bearing, unsecured promissory
note equal to the amount of any such deposit that will not be repaid in the event that we are unable to close a business combination
unless there are funds available outside the trust account to do so. Such notes would either be paid upon consummation of our
initial business combination, or, at the relevant insider&rsquo;s discretion, converted upon consummation of our business combination
into additional private units at a price of $10.00 per unit. Our stockholders&nbsp;have approved the issuance of the private
units upon conversion of such notes, to the extent the holder wishes to so convert such notes at the time of the consummation
of our initial business combination. In the event that we receive notice from our insiders five days prior to the applicable deadline
of their intent 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 insiders 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. To the extent that some, but not all, of our insiders,
decide to extend the period of time to consummate our initial business combination, such insiders (or their affiliates or designees)
may deposit the entire amount required.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Under the Delaware General Corporation
Law, 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 100% of our outstanding public shares in the event we do not complete our initial business combination within the required time
period may be considered a liquidation distribution under Delaware law. If the corporation complies with certain procedures set
forth in Section 280 of the Delaware General Corporation Law 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 redemptions
are made to stockholders, any liability of stockholders with respect to a redemption 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.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Furthermore, if the pro rata portion
of our trust account distributed to our public stockholders upon the redemption of 100% of our public shares in the event we do
not complete our initial business combination within the required time period is not considered a liquidation distribution under
Delaware law and such redemption distribution is deemed to be unlawful, then pursuant to Section 174 of the Delaware General Corporation
Law, 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. It is our intention to redeem our public shares as soon as reasonably
possible following the 9th, 12th or 15th month from the closing of this offering and, therefore, we do not intend to comply with
the above procedures. 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 well beyond the third anniversary of such date.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Because we will not be complying with
Section 280 of the Delaware General Corporation Law, Section 281(b) of the Delaware General Corporation Law 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 seeking to complete an initial business combination, the only
likely claims to arise would be from our vendors (such as lawyers, investment bankers, etc.) or prospective target businesses.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We will seek to have all third parties
(including any vendors or other entities we engage after this offering) and any prospective target businesses enter into valid
and enforceable agreements with us waiving any right, title, interest or claim of any kind they may have in or to any monies held
in the trust account. The underwriters in this offering will execute such a waiver agreement. As a result, the claims that could
be made against us will be limited, thereby lessening the likelihood that any claim would result in any liability extending to
the trust. We therefore believe that any necessary provision for creditors will be reduced and should not have a significant impact
on our ability to distribute the funds in the trust account to our public stockholders. Nevertheless, there is no guarantee that
vendors, service providers and prospective target businesses will execute such agreements. In the event that a potential contracted
party was to refuse to execute such a waiver, we will execute an agreement with that entity only if our management first determines
that we would be unable to obtain, on a reasonable basis, substantially similar services or opportunities from another entity willing
to execute such a waiver. Examples of instances where we may engage a third-party that refused to execute a waiver would be the
engagement of a third-party consultant who cannot sign such an agreement due to regulatory restrictions, such as our auditors who
are unable to sign due to independence requirements, or whose particular expertise or skills are believed by management to be superior
to those of other consultants that would agree to execute a waiver or a situation in which management does not believe it would
be able to find a provider of required services willing to provide the waiver. There is also no guarantee that, even if they execute
such agreements with us, they will not seek recourse against the trust account. Our insiders have agreed that they will be jointly
and severally 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 $10.00 per public share, except as to any claims by a third-party who executed a valid and enforceable agreement with
us waiving any right, title, interest or claim of any kind they may have in or to any monies held in 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. Our board of directors has evaluated our insiders&rsquo; financial net worth and believes they will be able to satisfy
any indemnification obligations that may arise. However, our insiders may not be able to satisfy their indemnification obligations,
as we have not required our insiders to retain any assets to provide for their indemnification obligations, nor have we taken any
further steps to ensure that they will be able to satisfy any indemnification obligations that arise. Moreover, our insiders will
not be liable to our public stockholders and instead will only have liability to us. As a result, if we liquidate, the per-share
distribution from the trust account could be less than approximately $10.00 due to claims or potential claims of creditors. We
will distribute to all of our public stockholders, in proportion to their respective equity interests, an aggregate sum equal to
the amount then held in the trust account, inclusive of any interest not previously released to us, (subject to our obligations
under Delaware law to provide for claims of creditors as described below).</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">If we are unable to consummate an initial
business combination and are forced to redeem 100% of our outstanding public shares for a portion of the funds held in the trust
account, we anticipate notifying the trustee of the trust account to begin liquidating such assets promptly after such date and
anticipate it will take no more than 10 business days to effectuate the redemption of our public shares. Our insiders have waived
their rights to participate in any redemption with respect to their insider shares. We will pay the costs of any subsequent liquidation
from our remaining assets outside of the trust account. If such funds are insufficient, our insiders have agreed to pay the funds
necessary to complete such liquidation (currently anticipated to be no more than approximately $15,000) and have agreed not to
seek repayment of such expenses. Each holder of public shares will receive a full pro rata portion of the amount then in the trust
account, plus any pro rata interest earned on the funds held in the trust account and not previously released to us or necessary
to pay our taxes. The proceeds deposited in the trust account could, however, become subject to claims of our creditors that are
in preference to the claims of public stockholders.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Our public stockholders shall be entitled
to receive funds from the trust account only in the event of our failure to complete our initial business combination in the required
time period or if the stockholders seek to have us convert their respective shares of common stock upon a business combination
which is actually completed by us. In no other circumstances shall a stockholder have any right or interest of any kind to or in
the trust account.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">If we are forced to file a bankruptcy
case or an involuntary bankruptcy case is filed against us which 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
redemption or conversion amount received by public stockholders may be less than $10.00.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">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. Claims may be brought against
us for these reasons.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Certificate of Incorporation</B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Our certificate of incorporation contains
certain requirements and restrictions relating to this offering that will apply to us until the consummation of our initial business
combination. If we hold a stockholder vote to amend any provisions of our certificate of incorporation relating to stockholder&rsquo;s
rights or pre-business combination activity (including the substance or timing within which we have to complete a business combination),
we will 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 earned
on the funds held in the trust account and not previously released to us to pay our franchise and income taxes, divided by the
number of then outstanding public shares, in connection with any such vote. Our insiders have agreed to waive any conversion rights
with respect to any insider shares, private shares and any public shares they may hold in connection with any vote to amend our
certificate of incorporation. Specifically, our certificate of incorporation provides, among other things, that:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 3%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="width: 94%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">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 public stockholders may seek to convert their shares of common stock, regardless of whether they vote for or against the proposed business combination, into a portion of the aggregate amount then on deposit in the trust account, net of taxes payable, or (2) provide our stockholders with the opportunity to sell 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, net of taxes payable, in each case subject to the limitations described herein;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">we will consummate our initial business combination only if public stockholders do not exercise conversion rights in an amount that would cause our net tangible assets to be less than $5,000,001 and a majority of the outstanding shares of common stock voted are voted in favor of the business combination;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">if our initial business combination is not consummated within 9 months (or 12 or 15 months, as applicable) the closing of this offering, then our existence will terminate and we will distribute all amounts in the trust account to all of our public holders of shares of common stock;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">upon the consummation of this offering, $50,000,000, or $57,500,000 if the over-allotment option is exercised in full, shall be placed into the trust account;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">we may not consummate any other business combination, merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar transaction prior to our initial business combination; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt 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) receive funds from the trust account or (ii) vote on any initial business combination.</FONT></TD></TR>
</TABLE>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Potential Revisions to Agreements with Insiders</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-align: justify">Each of our insiders has entered into
letter agreements with us pursuant to which each of them has agreed to do certain things relating to us and our activities prior
to a business combination. We could seek to amend these letter agreements without the approval of stockholders, although we have
no intention to do so. In particular:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="width: 94%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Restrictions relating to liquidating the trust account if we failed to consummate a business combination in the time-frames specified above could be amended, but only if we allowed all stockholders to redeem their shares in connection with such amendment;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Restrictions relating to our insiders being required to vote in favor of a business combination or against any amendments to our organizational documents could be amended to allow our insiders to vote on a transaction as they wished;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The requirement of members of the management team to remain our officer or director until the closing of a business combination could be amended to allow persons to resign from their positions with us if, for example, the current management team was having difficulty locating a target business and another management team had a potential target business;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The restrictions on transfer of our securities could be amended to allow transfer to third parties who were not members of our original management team;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The obligation of our management team to not propose amendments to our organizational documents could be amended to allow them to propose such changes to our stockholders;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The obligation of insiders to not receive any compensation in connection with a business combination could be modified in order to allow them to receive such compensation; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The requirement to obtain a valuation for any target business affiliated with our insiders, in the event it was too expensive to do so.</FONT></TD></TR>
</TABLE>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Except as specified above, stockholders
would not be required to be given the opportunity to redeem their shares in connection with such changes. Such changes could result
in:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="width: 94%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Our having an extended period of time to consummate a business combination (although with less in trust as a certain number of our stockholders would certainly redeem their shares in connection with any such extension);</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Our insiders being able to vote against a business combination or in favor of changes to our organizational documents;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Our operations being controlled by a new management team that our stockholders did not elect to invest with;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Our insiders receiving compensation in connection with a business combination; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Our insiders closing a transaction with one of their affiliates without receiving an independent valuation of such business.</FONT></TD></TR>
</TABLE>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We will not agree to any such changes
unless we believed that such changes were in the best interests of our stockholders (for example, if we believed such a modification
were necessary to complete a business combination). Each of our officers and directors has fiduciary obligations to us requiring
that he or she act in our best interests and the best interests of our stockholders.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Competition</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-align: justify">In identifying, evaluating and selecting
a target business, we may encounter intense competition from other entities having a business objective similar to ours. Many of
these entities are well established and have extensive experience identifying and effecting business combinations directly or through
affiliates. Many of these competitors possess greater technical, human and other resources than us and our financial resources
will be relatively limited when contrasted with those of many of these competitors. While we believe there may be numerous potential
target businesses that we could complete a business combination with utilizing the net proceeds of this offering, our ability to
compete in completing a business combination with certain sizable target businesses may be limited by our available financial resources.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The following also may not be viewed
favorably by certain target businesses:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="width: 94%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">our obligation to seek stockholder approval of our initial business combination or engage in a tender offer may delay the completion of a transaction;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">our obligation to convert shares of common stock held by our public stockholders may reduce the resources available to us for our initial business combination;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">our obligation to pay the deferred underwriting commission to the underwriters upon consummation of our initial business combination;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">our obligation to either repay working capital loans that may be made to us by our insiders or their affiliates;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">our obligation to register the resale of the insider shares, as well as the private units (and underlying securities) and any shares issued to our insiders or their affiliates upon conversion of working capital loans; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">the impact on the target business&rsquo; assets as a result of unknown liabilities under the securities laws or otherwise depending on developments involving us prior to the consummation of a business combination.</FONT></TD></TR>
</TABLE>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Any of these factors may place us at
a competitive disadvantage in successfully negotiating our initial business combination. Our management believes, however, that
our status as a public entity and potential access to the United States public equity markets may give us a competitive advantage
over privately held entities having a similar business objective as ours in connection with an initial business combination with
a target business with significant growth potential on favorable terms.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">If we succeed in effecting our initial
business combination, there will be, in all likelihood, intense competition from competitors of the target business. Subsequent
to our initial business combination, we may not have the resources or ability to compete effectively.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Facilities</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-align: justify">We currently maintain our principal
executive offices at Room 368, 302 Buwei, 211 Fute North Road, China (Shanghai) Pilot Free Trade Zone, 200131. This space is provided
to us by our sponsor, at no cost. We consider our current office space, combined with the other office space otherwise available
to our executive officers, adequate for our current operations.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Employees</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-align: justify">We have two executive officers. These
individuals are not obligated to devote any specific number of hours to our matters and intend to devote only as much time as they
deem necessary to our affairs. The amount of time they will devote in any time period will vary based on whether a target business
has been selected for the business combination and the stage of the business combination process the company is in. Accordingly,
once a suitable target business to consummate our initial business combination with has been located, management will spend more
time investigating such target business and negotiating and processing the business combination (and consequently spend more time
on our affairs) than had been spent prior to locating a suitable target business. We presently expect our executive officers to
devote an average of approximately 10 hours per week to our business. We do not intend to have any full time employees prior to
the consummation of our initial business combination.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Periodic Reporting and Audited Financial Statements</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-align: justify">We have registered our units, common
stock and rights 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 report will contain financial
statements audited and reported on by our independent registered public accountants.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We will provide stockholders with audited
financial statements of the prospective target business as part of any proxy solicitation materials or tender offer documents sent
to stockholders to assist them in assessing the target business. These financial statements will need to be prepared in accordance
with or reconciled to United States GAAP or IFRS as issued by the IASB. A particular target business identified by us as a potential
business combination candidate may not have the necessary financial statements. To the extent that this requirement cannot be met,
we may not be able to consummate our initial business combination with the proposed target business.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We may be required by the Sarbanes-Oxley
Act to have our internal control over financial reporting audited for the year ending December 31, 2022. A target company
may not be in compliance with the provisions of the Sarbanes-Oxley Act regarding the adequacy of their internal control over financial
reporting. The development of the internal control over financial reporting of any such entity to achieve compliance with the
Sarbanes-Oxley Act may increase the time and costs necessary to complete any such initial business combination.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>JOBS Act</B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We are an &ldquo;emerging growth company,&rdquo;
as defined in Section 2(a) of 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.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">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 until we are no longer an &ldquo;emerging
growth company.&rdquo;</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">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)&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 non-affiliates exceeds $700 million as of the prior June
30<SUP>th</SUP>, and (2) the date on which we have issued more than $1.0 billion in non-convertible debt 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.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Legal Proceedings</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-align: justify">There is no material litigation, arbitration,
governmental proceeding or any other legal proceeding currently pending or known to be contemplated against us or any members
of our management team in their capacity as such, and we and the members of our management team have not been subject to any such
proceeding in the 10 years preceding the date of this prospectus.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Comparison to Offerings of Blank Check Companies Subject
to Rule 419</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-align: justify">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 their over-allotment option. None of the
provisions of Rule 419 apply to our offering.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 10%; padding: 0 0 1pt 10; line-height: 107%; text-indent: -10">&nbsp;</TD>
<TD STYLE="width: 1%; padding-right: 0.8pt; line-height: 107%; padding-bottom: 1pt">&nbsp;</TD>
<TD STYLE="width: 45%; padding-right: 0.8pt; text-align: center; line-height: 107%; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Terms of the Offering</B></FONT></TD>
<TD STYLE="width: 1%; padding-right: 0.8pt; line-height: 107%; padding-bottom: 1pt">&nbsp;</TD>
<TD STYLE="width: 43%; padding-right: 0.8pt; text-align: center; line-height: 107%; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Terms Under a Rule 419 Offering</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0 0 0 10; text-indent: -10; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Escrow of offering proceeds</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$50,000,000 of the net offering proceeds and proceeds from the sale of the private units will be deposited into a trust account in the United States at JPMorgan Chase Bank, maintained by Continental Stock Transfer &amp; Trust Company, acting as trustee.</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$42,300,000 of the offering proceeds 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 STYLE="vertical-align: top; background-color: White">
<TD STYLE="padding: 0 0 0 10; line-height: 107%; text-indent: -10">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0 0 0 10; text-indent: -10; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Investment of net proceeds</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$50,000,000
of net offering proceeds and proceeds from the sale of the private units held in the trust account will be invested only in U.S.
government treasury bills, bonds or notes with a maturity of 185 days or less or in money market funds meeting the applicable
conditions under Rule&nbsp;2a-7 under the Investment Company Act which invest only in direct U.S. government treasury obligations.</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt 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 States.</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
<TD STYLE="padding: 0 0 0 10; line-height: 107%; text-indent: -10">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0 0 0 10; text-indent: -10; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Limitation on fair value or net assets of target business</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">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 value of the trust account (excluding any deferred underwriter&rsquo;s 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.</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt 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 STYLE="vertical-align: top; background-color: White">
<TD STYLE="padding: 0 0 0 10; text-indent: -10; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0 0 0 10; text-indent: -10; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Trading of securities issued</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The units may commence trading on or promptly after the date of this prospectus. The common stock<U>&nbsp;</U>and rights comprising the units will begin to trade separately on the 90<SUP>th</SUP> day after the date of this prospectus unless Chardan Capital Markets, LLC informs us of its decision to allow earlier separate trading (based upon its assessment of the relative strengths of the securities markets and small capitalization companies in general, and the trading pattern of, and demand for, our securities in particular), provided we have filed with the SEC a Current Report on Form 8-K, which includes an audited balance sheet reflecting our receipt of the proceeds of this offering.</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">No trading of the units or the underlying common stock<U>&nbsp;</U>and rights 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 STYLE="vertical-align: top; background-color: White">
<TD STYLE="padding: 0 0 0 10; text-indent: -10; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0 0 0 10; text-indent: -10; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Election to remain an investor</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">We will either (i) give our stockholders the opportunity to vote on the business combination or (ii) provide our public stockholders with the opportunity to sell their shares of our common stock for cash equal to their pro rata share of the aggregate amount then on deposit in the trust account, less taxes. If we hold a meeting to approve a proposed business combination, we will send each stockholder a proxy statement containing information required by the SEC. Alternatively, if we do not hold a meeting and instead conduct a tender offer, we will conduct such tender offer in accordance with 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 as we would have included in a proxy statement. Under Delaware law and our bylaws, we must provide at least 10 days&rsquo; advance notice of any meeting of stockholders. Accordingly, this is the minimum amount of time we would need to provide holders to determine whether to exercise their rights to convert their shares into cash or to remain an investor in our company.</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">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> 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>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 11%; padding: 0 0 0 10; text-indent: -10; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Business combination deadline</FONT></TD>
<TD STYLE="width: 1%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 44%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Pursuant to our certificate of incorporation, if we are unable to complete our initial business combination within 9 months (or 12 or 15 months, as applicable) 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 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 the case of (ii) and (iii) above) to our obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law.</FONT></TD>
<TD STYLE="width: 1%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 43%">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. &nbsp; &nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
<TD STYLE="padding: 0 0 0 10; line-height: 107%; text-indent: -10">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0 0 0 10; text-indent: -10; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Interest earned on the funds in the trust account</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">There can be released to us, from time to time, any interest earned on the funds in the trust account that we may need to pay our tax obligations.</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt 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>
<TR STYLE="vertical-align: top; background-color: White">
<TD STYLE="padding: 0 0 0 10; line-height: 107%; text-indent: -10">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0 0 0 10; text-indent: -10; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Release of funds</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Except for interest earned on the funds in the trust account that may be released to us to pay our tax obligations the proceeds held in the trust account will not be released until the earlier of the completion of our initial business combination and our liquidation upon failure to effect our initial business combination within the allotted time.</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt 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>
</TABLE>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_011"></A>MANAGEMENT</B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Directors and Executive Officers</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-align: justify">Our current directors, director nominees
and executive officers are as follows:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
<TD STYLE="width: 46%; border-bottom: Black 1pt solid"><B>Name</B></TD>
<TD STYLE="width: 1%; padding-right: 0.8pt; line-height: 107%; padding-bottom: 1pt">&nbsp;</TD>
<TD STYLE="width: 8%; text-align: center; border-bottom: Black 1pt solid"><B>Age</B></TD>
<TD STYLE="width: 1%; padding-right: 0.8pt; line-height: 107%; padding-bottom: 1pt">&nbsp;</TD>
<TD STYLE="width: 44%; border-bottom: Black 1pt solid"><B>Position</B></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
<TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Sophie Ye Tao</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="vertical-align: bottom; padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">42</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="vertical-align: bottom; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Chairman and Chief Executive Officer</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Philip Chun-Hun Kwan</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">38</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Chief Financial Officer and Director</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Justin Chang</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">38</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Director</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Bryant Chou</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">39</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Director</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Greg
Chang </FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">41</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
</TABLE>

<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 4.7pt; text-align: justify"><I>Sophie Ye Tao,</I><FONT STYLE="font: 10pt/107% Times New Roman, Times, Serif">
our President and Chief Executive Officer, has been an active investor in China and the US since 2007. Throughout her investment
career, she has invested in companies including Evernote, 360 DigiTech, Inc. (NASDAQ: QFIN), a leading fintech platform in China,
Tricorn Technology, a leading&nbsp;China-based AI company focused on natural language processing which was later acquired by Tencent
in 2020, Shanghai Canxing Culture &amp; Broadcast Company, the largest&nbsp;unscripted content producer in China and Ningmeng
Pictures, a leading Chinese studio focused on television and film production.&nbsp;From 2016 to 2021, Ms. Tao was a partner at
Hanfor Capital Management, a China-based private equity firm&nbsp;and focused on investments in the TMT and consumer industries.
She was a co-founder and partner at Ray Shi Capital Group from 2010 to 2015, a US registered investment adviser focusing on equity
investments in Chinese companies listed in Hong Kong and the U.S. Ms. Tao was the senior investment manager for Greater China
at Vision Capital Advisors in New York City from 2007 to 2010. At Vision, Ms. Tao helped launch and co-managed the Vision Opportunity
China Fund, focusing on sourcing, structuring and investing in small- and medium-sized enterprises in China through reverse mergers,
private placements and private equity. Previously, Ms. Tao worked at Banc of America Securities LLC in New York City in its equity
capital markets group between 2005 and 2007, where she originated and executed convertible bond and other equity&ndash;linked
issuances. She also worked at NERA Economic Consulting in its Chicago and New York City offices between 2003 and 2005 where she
helped provide economics and econometrics analysis and recommendations to multi-national corporations involved in antitrust and
securities litigations. Before that, Ms. Tao worked as a policy consultant at the Organization for Economic Cooperation and Development
(OECD) in Paris from 2001 to 2002, where she advised countries on their economic and regulatory reform policies. Ms. Tao graduated
from the Woodrow Wilson School of Public and International Affairs at Princeton University in 2003 with a Master of Public Affairs
(MPA) degree concentrating in economics and advanced quantitative analysis. She also graduated from the University of International
Business &amp; Economics in Beijing with a Bachelor of Laws degree in 2000</FONT>.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">We believe that Ms. Tao is
well-qualified to serve as a member of our board of directors due to her extensive experience, contacts, and relationships within the TMT sector in Asia and the U.S.</P>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify"><I>Philip Chun-Hun Kwan</I>,
our Chief Financial Officer and a member of our board of directors since our inception, has spent his career in the TMT industry,
as an investor, advisor and operator since 2004. Mr. Kwan is currently the CEO of Palestra Sports, a sports-focused start-up based
in China which he co-founded in June 2017. From 2010 to 2017, Mr. Kwan was a senior vice president at The Raine Group (&ldquo;Raine&rdquo;),
where he was a founding member of the firm&rsquo;s China practice based in Beijing and subsequently Shanghai. Raine is one of
the world&rsquo;s leading TMT-focused merchant banks, with total assets under management of over $3.5 billion. At Raine, Mr. Kwan
provided investment banking advisory services to leading Chinese and international media and entertainment companies (primarily
mergers and acquisitions and large-scale capital raise transactions), and also worked on the fund side where he helped source
and execute direct principal investments in China. Representative transactions during his time at Raine include the $4.2 billion
sale of the Ultimate Fighting Championship to WME IMG, the sale of 13% of Manchester City Football Group to CMC Capital and CITIC
for $400 million, Perfect World&rsquo;s $250 million investment into Universal Studios&rsquo; film slate, the creation of Flagship
Entertainment, the Chinese film studio co-financed by Warner Bros and CMC Capital, the sale of PPTV to Suning for $420 million,
and the spin-off of and $80 million capital raise for IMAX China, among others. In the Singapore region, Mr. Kwan&nbsp;also
represented Wego in its Series A capital raise. Prior to joining Raine, Mr. Kwan worked at Southfield Capital, a middle market
private equity firm backed by Canyon Capital Advisors focused on North American buyouts. During his time at Southfield, he executed
a number of leveraged buyout transactions across a range of different industries. Mr. Kwan started his professional career in
the mergers and acquisitions advisory group at Evercore Partners in New York. He graduated from The Wharton School at the University
of Pennsylvania with a Bachelor of Science in Economics in 2004. Mr. Kwan is currently married to Ms. Tao.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">We believe Mr. Kwan is well-qualified
to serve as a member of our board of directors due to his transaction experience, network, and operational experience within the
TMT sector globally.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify"></P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify"><I>Justin Chang</I> has served
as our independent director since April, 2021. Mr. Chang has 15 years of technology, product development, and entrepreneurial
experience. Currently, Mr. Chang is the vice president of product at ClassPass, a marketplace aggregator of local fitness, wellness,
and beauty merchants. ClassPass provides customers with a flexible membership that gives them access toc 40,000 boutique studios,
gyms, and wellness facilities across 28 countries. He joined ClassPass in 2014 after its seed financing, helping scale the company
from 1 city to 2,500 cities by leading the engineering, product management, product design, user research, and product operations
teams. In 2019, Mr. Chang helped launch ClassPass China, a localized version of the ClassPass experience. Justin also sits on
the ClassPass executive team where he oversees global product strategy and product development. Outside ClassPass, Mr. Chang regularly
advises early stage founders and executives on strategy, growth, and product. From 2011-2014, Justin worked at AHAlife, a luxury
e-commerce marketplace, where he led the product development of its merchant portal and augmented reality shopping experiences.
Prior to AHAlife, Mr. Chang co-founded MatchBright in 2006, a career discovery platform that leveraged big data to help job seekers
discover best fit careers, and operated its business until 2010. Mr. Chang began his career as a consultant for Bain &amp; Company
where he advised Fortune 500 companies in consumer products, retail, TMT, banking, and healthcare industries from 2004 to 2006.
Justin graduated magna cum laude from The Wharton School at the University of Pennsylvania where he holds degrees in Finance and
Management in 2004.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">We believe Mr. Chang is well-qualified
to serve as a member of our board of directors due to his operational experience and relationships within the TMT sector.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify"><I>Bryant Chou</I> has been a
member of our board of directors since April, 2021. Mr. Bryant Chou has experience in corporate finance and the TMT industry
across the US, Asia and Europe. Since 2012, Bryant has been the CEO of Yi Shi Yi Se (Beijing) Culture Communication Co., Ltd.
and its predecessor company, VICE China, where Bryant oversees the launch and expansion of the local entity, leads commercial
activities and serves as the main liaison for key business partners domestically and across the APAC region. Prior to this, Mr.
Chou worked at DMG Entertainment, a Chinese advertising and entertainment agency from 2011 to 2012. From 2007 to 2008, he was
a consultant at JL McGregor, a boutique equity research firm, from 2007 to 2008. Bryant began his career in investment banking
in New York at Miller Buckfire from 2003 to 2006, a leading boutique restructuring firm. Bryant graduated from The Wharton School
at the University of Pennsylvania in December 2002, receiving a Bachelor of Science in Economics with concentrations in Finance
and Management.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">We believe Mr. Chou is well-qualified
to serve as a member of our board of directors due to his experience and relationships within the TMT sector in China and the U.S.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify; text-indent: 0"><I>Greg Chang
</I>has been a member of our board of directors since April, 2021, and brings his more than 15 years of experience in technology,
gaming, business development, marketing, and entrepreneurship. Since 2020, Mr. Chang has been the general manager of RealTime
Technology, a SAAS company servicing the telecom, retail, and gaming industries. He is also an investor in multiple startups and
a mentor at SOSV, one of the most active VCs in the Asia region. From 2015 until 2019, Mr. Chang was the director of games and
mobile, Greater China, at The Walt Disney Company where he was responsible for popular titles such as Marvel Future Fight, Star
Wars Commander, and Disney TsumTsum. He also developed several multi-million dollar licensing deals with some of the top technology
companies in China. From 2013 to 2015, he was the vice president of Asia at Glu Mobile where he initiated Glu&rsquo;s $100M+ strategic
partnership and investment with Tencent and helped launch several popular games including Deer Hunter, Eternity Warriors, and
Kim Kardashian: Hollywood in the region. Prior to that, Mr. Chang was the director of business at NCSoft Taiwan from 2011 to 2012
and vice president at The Ivy Group (a Temasek portfolio company) from 2009 to 2011. Mr. Chang graduated from the University of
California, Berkeley with a Bachelor of Arts in 2001 and also received an MBA from Columbia Business School in 2009.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify; text-indent: 0">&nbsp;</P>

<P STYLE="margin: 0 4.7pt; text-align: justify; text-indent: 0"><FONT STYLE="font-size: 10pt">We believe Mr. Chang is well-qualified
to serve as a member of our board of directors due to his operational and entrepreneurial experience and relationships within
the TMT sector.</FONT></P>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify"></P>




<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify"></P>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 4.7pt; text-align: justify"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Number and Terms of Office of Officers and Directors</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-align: justify">Upon consummation of this offering,
our board of directors will have five members, three of whom will be deemed &ldquo;independent&rdquo; under SEC and Nasdaq rules.
We may not hold an annual meeting of stockholders until after we consummate our initial business combination. Our officers are
appointed 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. Our bylaws
provide that our directors may consist of a chairman of the board, and that our officer may consist of chief executive officer,
president, chief financial officer,  vice president(s), secretary, treasurer and such other officers
as may be determined by the board of directors.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Executive Compensation</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-align: justify">No executive officer has received any
cash compensation for services rendered to us. No compensation or fees of any kind, including finder&rsquo;s fees, consulting fees and
other similar fees, will be paid to our insiders or any of the members of our management team, for services rendered prior to or
in connection with the consummation of our initial business combination (regardless of the type of transaction that it is). However,
such individuals will receive reimbursement for any out-of-pocket expenses incurred by them in connection with activities on our
behalf, such as identifying potential target businesses, performing business due diligence on suitable target businesses and business
combinations as well as traveling to and from the offices, plants or similar locations of prospective target businesses to examine
their operations. There is no limit on the amount of out-of-pocket expenses reimbursable by us; provided, however, that to the
extent such expenses exceed the available proceeds not deposited in the trust account and the interest income earned on the amounts
held in the trust account, such expenses would not be reimbursed by us unless we consummate an initial business combination.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">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 stockholders, to the extent then known, in the proxy solicitation materials furnished
to our stockholders. It is unlikely the amount of such compensation will be known at the time of a stockholder meeting held to
consider our initial business combination, as it will be up to the directors of the post-combination business to determine executive
and director compensation. In this event, such compensation will be publicly disclosed at the time of its determination in a Current
Report on Form 8-K, as required by the SEC.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Director Independence</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-align: justify">Nasdaq listing standards require that within
one year of the listing of our securities on the Nasdaq Capital Market we have at least three independent directors and that a majority
of our board of directors be independent. An &ldquo;independent director&rdquo; 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. Our Board of Directors had determined that Bryant Chou, Greg Chang and Justin Chang are &ldquo;independent director&rdquo;
as defined in the Nasdaq listing standards and applicable SEC rules. Our independent directors will have regularly scheduled meetings
at which only independent directors are present.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We will only enter into a business combination
if it is approved by a majority of our independent directors. Additionally, we will only enter into transactions with our officers
and directors and their respective affiliates that are on terms no less favorable to us than could be obtained from independent
parties. Any related-party transactions must be approved by our audit committee and a majority of disinterested directors.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Audit Committee</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-align: justify">Effective as of the date of this prospectus,
we will establish an audit committee of the board of directors, which will consist of Bryant Chou, Greg Chang and Justin
Chang, each of whom is an independent director. Bryant Chou will serve as chairman of the audit committee. The audit committee&rsquo;s
duties, which are specified in our Audit Committee Charter, include, but are not limited to:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="width: 94%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">reviewing
and discussing with management and the independent auditor the annual audited financial statements, and recommending to the board
whether the audited financial statements should be included in our Form 10-K;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">discussing
with management and the independent auditor significant financial reporting issues and judgments made in connection with the preparation
of our financial statements;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">discussing
with management major risk assessment and risk management policies;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">monitoring
the independence of the independent auditor;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">verifying
the rotation of the lead (or coordinating) audit partner having primary responsibility for the audit and the audit partner responsible
for reviewing the audit as required by law;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">reviewing
and approving all related-party transactions;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">inquiring
and discussing with management our compliance with applicable laws and regulations;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">pre-approving
all audit services and permitted non-audit services to be performed by our independent auditor, including the fees and terms of
the services to be performed;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">appointing
or replacing the independent auditor;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">determining
the compensation and oversight of the work of the independent auditor (including resolution of disagreements between management
and the independent auditor regarding financial reporting) for the purpose of preparing or issuing an audit report or related
work;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">establishing
procedures for the receipt, retention and treatment of complaints received by us regarding accounting, internal accounting controls
or reports which raise material issues regarding our financial statements or accounting policies; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">approving
reimbursement of expenses incurred by our management team in identifying potential target businesses.</FONT></TD></TR>
</TABLE>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Financial Experts on Audit Committee</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-align: justify">The audit committee will at all times
be composed exclusively of &ldquo;independent directors&rdquo; who are &ldquo;financially literate&rdquo; as defined under the Nasdaq
listing standards. The Nasdaq listing standards define &ldquo;financially literate&rdquo; as being able to read and understand fundamental
financial statements, including a company&rsquo;s balance sheet, income statement and cash flow statement.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, we must certify to Nasdaq that
the committee has, and will continue to have, at least one member who has past employment experience in finance or accounting, requisite
professional certification in accounting, or other comparable experience or background that results in the individual&rsquo;s financial
sophistication. The board of directors has determined that Bryant Chou qualifies as an &ldquo;audit committee financial expert,&rdquo;
as defined under rules and regulations of the SEC.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Compensation Committee</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-align: justify">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 Bryant
Chou, Greg Chang and Justin Chang, each of whom is an independent director. Justin Chang will serve as chairman of the compensation
committee. We will adopt a compensation committee charter, which will detail the principal functions of the compensation committee, including:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%; text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="width: 94%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt 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&rsquo;s based on such evaluation;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">reviewing and approving the compensation of all of our other executive officers;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">reviewing our executive compensation policies and plans;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">implementing and administering our incentive compensation equity-based remuneration plans;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">assisting management in complying with our proxy statement and annual report disclosure requirements;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt 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>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">producing a report on executive compensation to be included in our annual proxy statement; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt 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/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Director Nominations</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-align: justify">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. Bryant Chou, Greg
Chang and Justin Chang&nbsp;will participate in the consideration and recommendation of director nominees. 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.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">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 election at the next annual meeting of stockholders (or, if applicable, a special meeting of stockholders). Our stockholders
that wish to nominate a director for election to the Board should follow the procedures set forth in our bylaws.</P>

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

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

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Compensation Committee Interlocks and Insider Participation</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-align: justify">We may not have a compensation committee
in place prior to the completion of our initial business combination. Any executive compensation matters that arise prior to the
time we have a compensation committee in place will be determined by our independent directors. None of our directors who currently
serve as members of our compensation committee is, or has at any time in the past been, one of our officers or employees. None
of our executive officers currently serves, or in the past year has served, as a member of the compensation committee of any other
entity that has one or more executive officers serving on our board of directors. None of our executive officers currently serves,
or in the past year has served, as a member of the board of directors of any other entity that has one or more executive officers
serving on our compensation committee.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Code of Ethics</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-align: justify">Effective upon consummation of this
offering, we will adopt a code of ethics that applies to all of our executive officers, directors and employees. The code of ethics
codifies the business and ethical principles that govern all aspects of our business.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Conflicts of Interest</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-align: justify">Investors should be aware of the following
potential conflicts of interest:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%; text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="width: 94%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">None of our officers and directors is required to commit their full time to our affairs and, accordingly, they may have conflicts of interest in allocating their time among various business activities.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the course of their other business activities, our officers and directors may become aware of investment and business opportunities
which may be appropriate for presentation to our company as well as the other entities with which they are affiliated. Our directors
and officers may continue to&nbsp;be involved in the formation of other special purpose acquisition companies in the future.
Thus, our officers and directors may have conflicts of interest in determining to which entity a particular business opportunity
should be presented.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Our officers and directors may in the future become affiliated with entities, including other blank check companies, engaged in business activities similar to those intended to be conducted by our company.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Unless we consummate our initial business combination, our officers, directors and other insiders will not receive reimbursement for any out-of-pocket expenses incurred by them to the extent that such expenses exceed the amount of available proceeds not deposited in the trust account.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The insider shares beneficially owned by our officers and directors will be released from escrow only if our initial business combination is successfully completed. Additionally, if we are unable to complete an initial business combination within the required time frame, our officers and directors will not be entitled to receive any amounts held in the trust account with respect to any of their insider shares or private units. Furthermore, SPK Acquisition LLC has agreed that the private units will not be sold or transferred by it until after we have completed our initial business combination. For the foregoing reasons, our board may have a conflict of interest in determining whether a particular target business is an appropriate business with which to effect our initial business combination.</FONT></TD></TR>
</TABLE>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%; text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="width: 94%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">the corporation could financially undertake the opportunity;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">the opportunity is within the corporation&rsquo;s line of business; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt 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/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Accordingly, as a result of multiple
business affiliations, our officers and directors may have similar legal obligations relating to presenting business opportunities
meeting the above-listed criteria to multiple entities. Furthermore, our certificate of incorporation provides that the doctrine
of corporate opportunity will not apply with respect to any of our officers or directors in circumstances where the application
of the doctrine would conflict with any fiduciary duties or contractual obligations they may have. In order to minimize potential
conflicts of interest which may arise from multiple affiliations, our officers and directors (other than our independent directors)
have agreed to present to us for our consideration, prior to presentation to any other person or entity, any suitable opportunity
to acquire a target business, until the earlier of: (1) our consummation of an initial business combination and (2) 9 months from
the date of this prospectus (or 12 or 15 months if we have extended the period of time to complete a business combination as described
in this prospectus). This agreement is, however, subject to any pre-existing fiduciary and contractual obligations such officer
or director may from time to time have to another entity. Accordingly, if any of them becomes aware of a business combination opportunity
which is suitable for an entity to which he or she has pre-existing fiduciary or contractual obligations, he or she will honor
his or her fiduciary or contractual 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 pre-existing fiduciary duties or contractual
obligations of our officers and directors will materially undermine our ability to complete our business combination because in
most cases the affiliated companies are closely held entities controlled by the officer or director or the nature of the affiliated
company&rsquo;s business is such that it is unlikely that a conflict will arise.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table summarizes the
current material pre-existing fiduciary or contractual obligations of our officers, directors and director nominees:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
<TD STYLE="width: 14%; padding: 0; line-height: 107%; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Name of Individual</B></FONT></TD>
<TD STYLE="width: 2%; padding-right: 0.8pt; text-align: center; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 27%; padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Name of Affiliated Company</B></FONT></TD>
<TD STYLE="width: 2%; padding-right: 0.8pt; text-align: center; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 20%; padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Entity&rsquo;s Business</B></FONT></TD>
<TD STYLE="width: 2%; padding-right: 0.8pt; text-align: center; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 33%; padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Affiliation</B></FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
<TD STYLE="padding: 0 0 0 10; line-height: 107%; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Philip Chun-Hun Kwan</FONT></TD>
<TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Palestra Sports China</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Sports</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="text-align: center; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Chief Executive Officer and Co-Founder</FONT></TD></TR>
<TR STYLE="background-color: White">
<TD STYLE="padding: 0 0 0 10; line-height: 107%; text-indent: -10"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Greg
Chang</FONT></TD>
<TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">RealTime
Technology</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SaaS</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="text-align: center; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">General
Manager</FONT><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
<TD STYLE="padding: 0 0 0 10; line-height: 107%; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Bryant Chou</FONT></TD>
<TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Yi Shi Yi Se (Beijing) Culture Communication Co., Ltd.</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Entertainment</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="text-align: center; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Chief Executive Officer</FONT></TD></TR>
<TR STYLE="background-color: White">
<TD STYLE="padding: 0 0 0 10; line-height: 107%; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Justin Chang</FONT></TD>
<TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ClassPass Inc.</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Technology</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%">&nbsp;</TD>
<TD STYLE="text-align: center; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Vice President of Product</FONT></TD></TR>
</TABLE>


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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Our insiders, including our officers
and directors, have agreed to vote any shares of common stock held by them in favor of our initial business combination. In addition,
they have agreed to waive their respective rights to receive any amounts held in the trust account with respect to their insider
shares and private shares if we are unable to complete our initial business combination within the required time frame. If they
purchase shares of common stock in this offering or in the open market, however, they would be entitled to receive their pro rata
share of the amounts held in the trust account if we are unable to complete our initial business combination within the required
time frame, but have agreed not to convert such shares in connection with the consummation of our initial business combination.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">All ongoing and future transactions
between us and any of our officers and directors or their respective affiliates will be on terms believed by us to be no less favorable
to us than are available from unaffiliated third parties. Such transactions will require prior approval by our audit committee
and a majority of our uninterested &ldquo;independent&rdquo; directors, or the members of our board who do not have an interest in
the transaction, in either case who had access, at our expense, to our attorneys or independent legal counsel. We will not enter
into any such transaction unless our audit committee and a majority of our disinterested &ldquo;independent&rdquo; directors determine
that the terms of such transaction are no less favorable to us than those that would be available to us with respect to such a
transaction from unaffiliated third parties.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">To further minimize conflicts of interest,
we have agreed not to consummate our initial business combination with an entity that is affiliated with any of our officers, directors
or other insiders, unless we have obtained (i) an opinion from an independent investment banking firm that the business combination
is fair to our unaffiliated stockholders from a financial point of view and (ii) the approval of a majority of our disinterested
and independent directors (if we have any at that time). In no event will our insiders or any of the members of our management
team be paid any finder&rsquo;s fee, consulting fee or other similar compensation prior to, or for any services they render in order
to effectuate, the consummation of our initial business combination (regardless of the type of transaction that it is).</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Limitation on Liability and Indemnification of Directors
and Officers</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-align: justify">Our certificate of incorporation provides
that our directors and officers 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 certificate of incorporation provides that our directors will not be personally
liable for monetary damages to us for breaches of their fiduciary duty as directors, unless they violated their duty of loyalty
to us or our stockholders, acted in bad faith, knowingly or intentionally violated the law, authorized unlawful payments of dividends,
unlawful stock purchases or unlawful redemptions, or derived an improper personal benefit from their actions as directors. Notwithstanding
the foregoing, as set forth in our certificate of incorporation, such indemnification will not extend to any claims our insiders
may make to us to cover any loss that they may sustain as a result of their agreement to pay debts and obligations to target businesses
or vendors or other entities that are owed money by us for services rendered or contracted for or products sold to us as described
elsewhere in this prospectus.</P>

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

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Our bylaws also will permit us to secure
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 indemnification. We will purchase a policy of directors&rsquo; and officers&rsquo; liability insurance that insures
our directors and officers against the cost of defense, settlement or payment of a judgment in some circumstances and insures us
against our obligations to indemnify the directors and officers.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">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 directors and officers, 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 directors and officers pursuant to these provisions. We believe that these provisions,
the insurance and the indemnity agreements are necessary to attract and retain talented and experienced directors and officers.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Insofar as indemnification for liabilities
arising under 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.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_012"></A>PRINCIPAL STOCKHOLDERS</B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table sets forth information
regarding the beneficial ownership of our shares of common stock as of the date of this prospectus and upon completion of the sale
of our shares of common stock included in the units offered by this prospectus (assuming none of the individuals listed purchase
units in this offering), by:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="width: 94%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">each person known by us to be the beneficial owner of more than 5% of our outstanding shares of common stock;</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">each of our officers, directors and director nominees; and</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">all of our officers, directors and director nominees as a group.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Amounts shown in the &ldquo;After Offering&rdquo;
column are calculated assuming no exercise of the over-allotment option and, therefore, the forfeiture of an aggregate of 187,500
shares of common stock held by our insiders. 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.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</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 STYLE="text-align: center; padding: 0 0 0 10; text-indent: -10">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Prior to Offering</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>After Offering<SUP>(2)</SUP></B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1pt solid; padding: 0 0 0 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Name and Address of Beneficial Owner<SUP>(1)</SUP></B></FONT></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Amount and</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Nature of</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Beneficial</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Ownership of</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Common Stock</B></FONT></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Approximate</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Percentage of</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Outstanding</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Shares of</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Common Stock</B></FONT></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Amount and</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Nature of</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Beneficial</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Ownership of</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Common</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Stock<SUP>(3)</SUP></B></FONT></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Approximate</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Percentage of</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Outstanding</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Shares of</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Common Stock</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 40%; text-align: left; padding: 0 0 0 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">SPK Acquisition LLC (our sponsor)<SUP>(4)</SUP></FONT></TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">1,437,500</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">100</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1,455,000 <SUP>(2)(3)</SUP></FONT></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">22.45</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Sophie Ye Tao</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Philip Chun-Hun Kwan<SUP>(5)</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,437,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1,455,000 <SUP>(2)(3)</SUP></FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">22.45</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Justin Chang</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Bryant Chou</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Greg Chang</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left"></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">All officers and directors as a group (5 individuals)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,437,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,455,000<SUP>(2)(3)</SUP></TD><TD STYLE="text-align: left"><SUP></SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">22.45</TD><TD STYLE="text-align: left">%</TD></TR>
</TABLE>


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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD>
    <TD STYLE="width: 96%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Less than 1%.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="padding-right: 0; padding-left: 0; text-align: justify; line-height: 107%; padding-top: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unless otherwise indicated, the business address of each of the individuals is c/o SPK Acquisition Corp., Room 368, 302 Buwei, 211 Fute North Road, China (Shanghai) Pilot Free Trade Zone, 200131, and our telephone number is (86) 13439129879. </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assumes
    no exercise of the over-allotment option and, therefore, an aggregate of 187,500 shares of common stock held by our&nbsp;insiders
    are forfeited.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes shares underlying private units. Does not include beneficial ownership of any shares of common stock underlying outstanding private rights as such shares are not issuable within 60 days of the date of this prospectus.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Philip Chun-Hun Kwan has voting and dispositive power over the shares owned by SPK Acquisition LLC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consists
    of shares owned by&nbsp;SPK Acquisition LLC, over which Philip Chun-Hun Kwan has voting and dispositive power.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Immediately after this offering, our
insiders will beneficially own approximately 22.45% of the then issued and outstanding shares of common stock (assuming they do
not purchase any units offered by this prospectus).</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Because of the ownership block held
by our insiders, such individuals may be able to effectively exercise influence over all matters requiring approval by our stockholders,
including the election of directors and approval of significant corporate transactions other than approval of our initial business
combination.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">If the underwriters do not exercise
all or a portion of the over-allotment option, an aggregate of up to 187,500 insider shares will be forfeited in amounts as determined
amongst the holders of such insider shares and not proportional to their ownership percentages in our shares of common stock. Only
a number of shares necessary to maintain our insiders&rsquo; collective 20% ownership interest in our shares of common stock after giving
effect to the offering and the exercise, if any, of the underwriters&rsquo; over-allotment option will be forfeited.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">All of the insider shares outstanding
prior to the date of this prospectus will be placed in escrow with Continental Stock Transfer &amp; Trust Company, as escrow
agent. Subject to certain limited exceptions, 50% of these shares will not be transferred, assigned, sold or released from escrow
until the earlier of six months after the date of the consummation of our initial business combination and the date the closing
price of our common stock equals or exceeds $12.50 per share (as adjusted for stock splits, stock dividends, reorganizations and
recapitalizations) for any 20 trading days within any 30-trading day period commencing after our initial business combination and
the remaining 50% of the insider shares will not be transferred, assigned, sold or released from escrow until six months after
the date of the consummation of our initial business combination or earlier in either case if, subsequent to our initial business
combination, we complete a liquidation, merger, stock exchange or other similar transaction which results in all of our stockholders
having the right to exchange their shares of common stock for cash, securities or other property. Up to 187,500 of the insider
shares may also be released from escrow earlier than this date for cancellation if the over-allotment option is not exercised in
full as described above.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">During the escrow period, the holders
of these shares will not be able to sell or transfer their securities except (1) transfers among the insiders, to our officers,
directors, advisors and employees, (2) transfers to an insider&rsquo;s affiliates or its members upon its liquidation, (3) transfers
to relatives and trusts for estate planning purposes, (4) transfers by virtue of the laws of descent and distribution upon death,
(5) transfers pursuant to a qualified domestic relations order, (6) private sales made at prices no greater than the price at which
the securities were originally purchased or (7) transfers to us for cancellation in connection with the consummation of an initial
business combination, in each case (except for clause 7) where the transferee agrees to the terms of the escrow agreement and forfeiture,
as the case may be, as well as the other applicable restrictions and agreements of the holders of the insider shares. If dividends
are declared and payable in shares of common stock, such dividends will also be placed in escrow. If we are unable to effect a
business combination and liquidate, there will be no liquidation distribution with respect to the insider shares.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">SPK Acquisition LLC will purchase the
private units for an aggregate purchase price of $2,050,000 (or $2,200,000 if the underwriters&rsquo; over-allotment option is exercised
in full) from us. These purchases will take place on a private placement basis simultaneously with the consummation of this offering.
The private units are identical to the units sold in this offering. Additionally, SPK Acquisition LLC has agreed not to transfer,
assign or sell any of the private units or underlying securities (except to the same permitted transferees as the insider shares
and provided the transferees agree to the same terms and restrictions as the permitted transferees of the insider shares must agree
to, each as described above) until the completion of our initial business combination.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">In order to meet our working capital
needs following the consummation of this offering, our insiders 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 lender&rsquo;s
discretion, up to $1,500,000 of the notes may be converted upon consummation of our business combination into additional private
units at a price of $10.00 per unit. Our stockholders have approved the issuance of the private units upon conversion of such notes,
to the extent the holder wishes to so convert such notes at the time of the consummation of our initial business combination. If
we do not complete a business combination, any outstanding loans from our insiders or their affiliates, will be repaid only from
amounts remaining outside our trust account, if any.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Our executive officers and directors
are deemed to be our &ldquo;promoters,&rdquo; as that term is defined under the federal securities laws.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_013"></A>CERTAIN TRANSACTIONS</B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">On January 28, 2021, our sponsor purchased
an aggregate of 1,437,500 shares for an aggregate purchase price of $25,000 in cash, or approximately $0.017 per share. Our sponsor
expects to transfer 4,000 insider shares to the three independent directors at the closing of this offering. We refer to these
shares throughout this prospectus as the &ldquo;insider shares&rdquo;. The number of insider shares issued was determined based on
the expectation that such insider shares would represent 20% of the outstanding shares upon completion of this offering (not including
the shares to be issued to the underwriter at closing or the shares underlying the private placement units).</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">If the underwriters do not exercise
all or a portion of their over-allotment option, our insiders will forfeit up to an aggregate of 187,500 insider shares in proportion
to the portion of the over-allotment option that was not exercised. If such shares are forfeited, we will record the forfeited
shares as treasury stock and simultaneously retire the shares. Upon receipt, such forfeited shares would then be immediately cancelled
which would result in the retirement of the treasury shares and a corresponding charge to additional paid-in capital.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">If the underwriters determine the size
of the offering should be increased (including pursuant to Rule 462(b) under the Securities Act) or decreased, a share dividend
or a contribution back to capital, as applicable, would be effectuated in order to maintain our insiders&rsquo; ownership at a percentage
of the number of shares of common stock to be sold in this offering. Our insiders may purchase from us at a price of $10.00 per
unit the number of private units that is necessary to maintain in the trust account an amount equal to $10.00 per share sold to
the public in this offering.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">SPK Acquisition LLC will purchase, pursuant
to a written purchase agreement with us, 205,000 private units for a total purchase price of $2,050,000 (or 220,000 private units
for a total purchase price of $2,200,000 if the underwriters&rsquo; over-allotment option is exercised in full). These purchases will
take place on a private placement basis simultaneously with the consummation of this offering. The purchase price for the private
units, including those that may be purchased if the over-allotment option is exercised, will be delivered to Loeb &amp; Loeb LLP,
who will also be acting as escrow agent in connection with the private sale of private units, at least 24 hours prior to the date
of this prospectus to hold in a non-interest bearing account until we consummate this offering. Continental Stock Transfer &amp;
Trust Company will deposit the purchase price into the trust account simultaneously with the consummation of the offering or the
over-allotment option, as the case may be. The private units are identical to the units sold in this offering. Additionally, SPK
Acquisition LLC has agreed not to transfer, assign or sell any of the private units or underlying securities (except to the same
permitted transferees as the insider shares and provided the transferees agree to the same terms and restrictions as the permitted
transferees of the insider shares must agree to, each as described above) until the completion of our initial business combination.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">In order to meet our working capital
needs following the consummation of this offering, our insiders, officers and directors 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 lender&rsquo;s discretion, up to $1,500,000 of the notes may be converted upon consummation of our business combination into additional
private units at a price of $10.00 per unit. Our stockholders have approved the issuance of the private units upon conversion of
such notes, to the extent the holder wishes to so convert such notes at the time of the consummation of our initial business combination.
If we do not complete a business combination, any outstanding loans from our insiders or their affiliates, will be repaid only
from amounts remaining outside our trust account, if any.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The holders of our insider shares issued
and outstanding on the date of this prospectus, as well as the holders of the private units (and underlying securities) and any
shares our insiders or their affiliates may be issued in payment of working capital loans made to us, will be entitled to registration
rights pursuant to an agreement to be signed prior to or on the effective date of this offering. The holders of a majority of
these securities are entitled to make up to two demands that we register such securities.&nbsp;Both the holders of the
majority of the insider shares&nbsp;and the holders of a majority of the units or shares issued in payment of working capital
loans made to us can elect to exercise these registration rights at any time after we consummate a business combination. In addition,
the holders have certain &ldquo;piggy-back&rdquo; registration rights with respect to registration statements filed subsequent
to our consummation of our initial business combination. We will bear the expenses incurred in connection with the filing of any
such registration statements.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">SPK Acquisition LLC has agreed that,
commencing on the date of this prospectus through the earlier of our consummation of our initial business combination or our liquidation,
it will make available to us certain general and administrative services, including office space, utilities and administrative
support, as we may require from time to time at no cost. No compensation or fees of any kind, including finder&rsquo;s fees, consulting
fees or other similar compensation, will be paid to our insiders or any of the members of our management team, for services rendered
to us prior to, or in connection with the consummation of our initial business combination (regardless of the type of transaction
that it is). However, such individuals will receive reimbursement for any out-of-pocket expenses incurred by them in connection
with activities on our behalf, such as identifying potential target businesses, performing business due diligence on suitable target
businesses and business combinations as well as traveling to and from the offices, plants or similar locations of prospective target
businesses to examine their operations. There is no limit on the amount of out-of-pocket expenses reimbursable by us; provided,
however, that to the extent such expenses exceed the available proceeds not deposited in the trust account and the interest income
earned on the amounts held in the trust account, such expenses would not be reimbursed by us unless we consummate an initial business
combination.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">After our initial business combination,
members of our management team who remain with us may be paid consulting, board, 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 proxy solicitation materials furnished
to our stockholders. It is unlikely the amount of such compensation will be known at the time of a stockholder meeting held to
consider our initial business combination, as it will be up to the directors of the post-combination business to determine executive
and director compensation. In this event, such compensation will be publicly disclosed at the time of its determination in a Current
Report on Form 8-K, as required by the&nbsp;SEC.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">All ongoing and future transactions
between us and any of our officers and directors or their respective affiliates will be on terms believed by us to be no less favorable
to us than are available from unaffiliated third parties. Such transactions will require prior approval by our audit committee
and a majority of our uninterested independent directors, in either case who had access, at our expense, to our attorneys or independent
legal counsel. We will not enter into any such transaction unless our audit committee and a majority of our disinterested independent
directors determine that the terms of such transaction are no less favorable to us than those that would be available to us with
respect to such a transaction from unaffiliated third parties.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Related Party Policy</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-align: justify">Our Code of Ethics requires us to avoid,
wherever possible, all related party transactions that could result in actual or potential conflicts of interests, except under
guidelines approved by the board of directors (or the audit committee). Related party transactions are defined as transactions
in which (1) the aggregate amount involved will or may be expected to exceed $120,000 in any calendar year, (2) we or any of our
subsidiaries is a participant, and (3) any (a) executive officer, director or nominee for election as a director, (b) greater than
5% beneficial owner of our shares of common stock, or (c) immediate family member, of the persons referred to in clauses (a) and
(b), has or will have a direct or indirect material interest (other than solely as a result of being a director or a less than
10% beneficial owner of another entity). A conflict of interest situation can arise when a person takes actions or has interests
that may make it difficult to perform his or her work objectively and effectively. Conflicts of interest may also arise if a person,
or a member of his or her family, receives improper personal benefits as a result of his or her position.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We also require each of our directors
and executive officers to annually complete a directors&rsquo; and officers&rsquo; questionnaire that elicits information about related party
transactions.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">These procedures are intended to determine
whether any such related party transaction impairs the independence of a director or presents a conflict of interest on the part
of a director, employee or officer.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">To further minimize conflicts of interest,
we have agreed not to consummate our initial business combination with an entity that is affiliated with any of our insiders, officers
or directors unless we have obtained an opinion from an independent investment banking firm and the approval of a majority of our
disinterested and independent directors (if we have any at that time) that the business combination is fair to our unaffiliated
stockholders from a financial point of view. In no event will our insiders, or any of the members of our management team be paid
any finder&rsquo;s fee, consulting fee or other similar compensation prior to, or for any services they render in order to effectuate,
the consummation of our initial business combination (regardless of the type of transaction that it is).</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_014"></A>DESCRIPTION OF SECURITIES</B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>General</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-align: justify">As of the effective date of the registration
statement of which this prospectus forms a part, our certificate of incorporation will authorize the issuance of 10,000,000 shares
of common stock, par value $0.0001. As of the date of this prospectus, 1,437,500 shares of common stock are outstanding. The following
description summarizes all of the material terms of our securities. Because it is only a summary, it may not contain all the information
that is important to you. For a complete description you should refer to our certificate of incorporation and bylaws, which are
filed as exhibits to the registration statement of which this prospectus is a part.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Units</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-align: justify">Each unit has an offering price of $10.00
and consists of one share of common stock and one right. Each right entitles the holder thereof to receive one- tenth (1/10) of
a share of common stock upon consummation of our initial business combination. In addition, we will not issue fractional shares
in connection with an exchange of rights. Fractional shares will either be rounded down to the nearest whole share or otherwise
addressed in accordance with the applicable provisions of Delaware Law. As a result, you must hold rights in multiples of 8 in
order to receive shares for all of your rights upon closing of a business combination.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The common stock and rights comprising
the units will begin separate trading on the 90<SUP>th</SUP> day after the date of this prospectus unless Chardan Capital Markets,
LLC determines that an earlier date is acceptable (based upon, among other things, its assessment of the relative strengths of
the securities markets and small capitalization companies in general, and the trading pattern of, and demand for, our securities
in particular), 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. Once the shares of common stock and rights commence separate trading, holders will have
the option to continue to hold units or separate their units into the component pieces. Holders will need to have their brokers
contact our transfer agent in order to separate the units into shares of common stock and rights.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">In no event will the common stock and
rights be traded separately until we have filed with the SEC a Current Report on Form&nbsp;8-K which includes an audited balance
sheet reflecting our receipt of the gross proceeds of this offering. We will file a Current Report on Form 8-K which includes this
audited balance sheet upon the completion of this offering, which 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 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.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Common Stock</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-align: justify">Our holders of record of our common
stock are entitled to one vote for each share held on all matters to be voted on by stockholders. In connection with any vote held
to approve our initial business combination, our insiders, officers and directors, have agreed to vote their respective shares
of common stock owned by them immediately prior to this offering, including both the insider shares and the private shares, and
any shares acquired in this offering or following this offering in the open market, in favor of the proposed business combination.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We will consummate our initial business
combination only if public stockholders do not exercise conversion rights in an amount that would cause our net tangible assets
to be less than $5,000,001 and a majority of the outstanding shares of common stock voted are voted in favor of the business combination.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to our certificate of incorporation,
if we do not consummate our initial business combination within 9 months from the closing of this offering (or 15 months from
the closing of this offering if we have filed a proxy statement, registration statement or similar filing for an initial business
combination within 9 months from the closing of this offering but have not completed the initial business combination within such
9-month 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 100% of the 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 the case of (ii) and (iii) above)
to our obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law. Our insiders
have agreed to waive their rights to share in any distribution with respect to their insider shares and private shares. However,
if we anticipate that we may not be able to consummate our initial business combination within 9 months and we have not filed
a proxy statement, registration statement or similar filing for an initial business combination by such date, our insiders or
their affiliates may, but are not obligated to, extend the period of time to consummate a business combination two times by an
additional three months each time (for a total of up to 15 months to complete a business combination), provided that, 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, the only way to extend the time available for
us to consummate our initial business combination in the absence of a proxy statement, registration statement or similar filing
is for our insiders or their affiliates or designees, upon five days&rsquo; advance notice prior to the applicable deadline, to
deposit into the trust account $500,000, or $575,000 if the over-allotment option is exercised in full ($0.10 per share in either
case, or an aggregate of $1,000,000 (or $1,150,000 if the over-allotment option is exercised in full)), on or prior to the date
of the applicable deadline. In the event that they elected to extend the time to complete a business combination and deposited
the applicable amount of money into trust, the insiders would receive a non-interest bearing, unsecured promissory note equal
to the amount of any such deposit that will not be repaid in the event that we are unable to close a business combination unless
there are funds available outside the trust account to do so. Such notes would either be paid upon consummation of our initial
business combination, or, at the relevant insider&rsquo;s discretion, converted upon consummation of our business combination
into additional private units at a price of $10.00 per unit. Our stockholders&nbsp;have approved the issuance of the private
units upon conversion of such notes, to the extent the holder wishes to so convert such notes at the time of the consummation
of our initial business combination. In the event that we receive notice from our insiders five days prior to the applicable deadline
of their intent 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 insiders 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. To the extent that some, but not all, of our insiders,
decide to extend the period of time to consummate our initial business combination, such insiders (or their affiliates or designees)
may deposit the entire amount required.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Our stockholders have no conversion,
preemptive or other subscription rights and there are no sinking fund or redemption provisions applicable to the shares of common
stock, except that public stockholders have the right to sell their shares to us in any tender offer or have their shares of common
stock converted to cash equal to their pro rata share of the trust account if they vote on the proposed business combination and
the business combination is completed. If we hold a stockholder vote to amend any provisions of our certificate of incorporation
relating to stockholder&rsquo;s rights or pre-business combination activity (including the substance or timing within which we have to
complete a business combination), we will 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 earned on the funds held in the trust account and not previously released to us to pay
our franchise and income taxes, divided by the number of then outstanding public shares, in connection with any such vote. In either
of such events, converting stockholders would be paid their pro rata portion of the trust account promptly following consummation
of the business combination or the approval of the amendment to the certificate of incorporation. If the business combination is
not consummated or the amendment is not approved, stockholders will not be paid such amounts.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Rights included as part of units</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-align: justify">Except in cases where we are not the
surviving company in a business combination, each holder of a right will automatically receive one- tenth (1/10) of a share of
common stock upon consummation of our initial business combination, even if the holder of a public right converted all shares of
common stock held by him, her or it in connection with the initial business combination or an amendment to our certificate of incorporation
with respect to our pre-business combination activities. In the event we will not be the surviving company upon completion of our
initial business combination, each holder of a right will be required to affirmatively convert his, her or its rights in order
to receive the one- tenth (1/10) of a share underlying each right upon consummation of the business combination. No additional
consideration will be required to be paid by a holder of rights in order to receive his, her or its additional shares of common
stock upon consummation of an initial business combination. The shares issuable upon exchange of the rights will be freely tradable
(except to the extent held by affiliates of ours). If we enter into a definitive agreement for a business combination in which
we will not be the surviving entity, the definitive agreement will provide for the holders of rights to receive the same per share
consideration the holders of the common stock will receive in the transaction on an as-converted into common stock basis.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We will not issue fractional shares
in connection with an exchange of rights. Fractional shares will either be rounded down to the nearest whole share or otherwise
addressed in accordance with the applicable provisions of the Delaware General Corporation Law. As a result, you must hold rights
in multiples of 10 in order to receive shares for all of your rights upon closing of a business combination. If we are unable to
complete an initial business combination within the required time period and we liquidate the funds held in the trust account,
holders of rights will not receive any of such funds with respect to their rights, nor will they receive any distribution from
our assets held outside of the trust account with respect to such rights, and the rights will expire worthless. Further, there
are no contractual penalties for failure to deliver securities to the holders of the rights upon consummation of an initial business
combination. Additionally, in no event will we be required to net cash settle the rights. Accordingly, the rights may expire worthless.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Dividends</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-align: justify">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
pursuant to Rule 462(b) under the Securities Act, in which case we will effect a stock dividend immediately prior to the consummation
of the offering in such amount as to maintain the number of insider shares at 20.0% of our issued and outstanding shares of our
common stock upon the consummation of this offering (assuming our insiders do not purchase units in this offering). Further, if
we incur any indebtedness, our ability to declare dividends may be limited by restrictive covenants we may agree to in connection
therewith.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Our Transfer Agent and Rights Agent</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-align: justify">The transfer agent for our securities
is Continental Stock Transfer &amp; Trust Company.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Certain Anti-Takeover Provisions of Delaware Law and our
Certificate of Incorporation and By-Laws</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-align: justify">We will be subject to the provisions
of Section 203 of Delaware General Corporation Law, or 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:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="width: 94%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">a stockholder who owns 10% or more of our outstanding voting stock (otherwise known as an &ldquo;interested stockholder&rdquo;);</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">an affiliate of an interested stockholder; or</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">A &ldquo;business combination&rdquo; includes
a merger or sale of more than 10% of our assets. However, the above provisions of Section 203 do not apply if:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="width: 94%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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>

<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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>

<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Special meeting of stockholders</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-align: justify">Our bylaws provide that special meetings
of our stockholders may be called only by resolution of the board of directors, or by the Chairman or the President.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Advance notice requirements for stockholder proposals
and director nominations</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-align: justify">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 delivered to our principal executive offices not later than the close of business on the 90<SUP>th</SUP> day nor earlier
than the opening of business on the 120<SUP>th</SUP> day prior to the scheduled date of the annual meeting of stockholders. 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.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_015"></A>SHARES ELIGIBLE FOR FUTURE SALE</B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Immediately after this offering, we
will have 6,480,000 shares of common stock outstanding, or 7,436,250 shares of common stock if the over-allotment option is exercised
in full. Of these shares, the 5,000,000 shares of common stock sold in this offering, or 5,750,000 shares of common stock if the
over-allotment option is exercised in full, 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
remaining shares are restricted securities under Rule 144, in that they were issued in private transactions not involving a public
offering.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Rule 144</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-align: justify">A person who has beneficially owned
restricted shares of common stock for at least six months would be entitled to sell their shares provided that (1) 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 (2)
we are subject to the Exchange Act periodic reporting requirements for at least three months before the sale. Persons who have
beneficially owned restricted shares of common stock for at least six months but who are our affiliates at the time of, or 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 a number of shares that does not exceed the greater of either of the following:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%; text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="width: 94%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1% of the number of shares then outstanding, which will equal approximately 64,800 shares of common stock immediately after this offering (or approximately 74,362 shares of common stock if the over-allotment option is exercised in full); and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">the average weekly trading volume of the shares of common stock during the four calendar weeks preceding the filing of a notice on Form 144 with respect to the sale.</FONT></TD></TR>
</TABLE>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Sales under Rule 144 are also limited
by manner of sale provisions and notice requirements and to the availability of current public information about us.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Restrictions on the Use of Rule 144 by Shell Companies
or Former Shell Companies</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-align: justify">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:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="width: 94%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the issuer of the securities that was formerly a shell company has ceased to be a shell company;</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the issuer of the securities is subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act;</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the issuer of the securities has filed all Exchange Act reports and material 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</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">As a result, it is likely that pursuant
to Rule 144, our insiders will be able to sell their insider shares freely without registration one year after we have completed
our initial business combination assuming they are not an affiliate of ours at that time.</P>

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The holders of our insider shares issued
and outstanding on the date of this prospectus, the holders of the private units and any shares our insiders or their affiliates
may be issued in payment of working capital loans made to us, will be entitled to registration rights pursuant to an agreement
to be signed prior to or on the effective date of this offering requiring us to register such securities for resale. The holders
of a majority of these securities are entitled to make up to two demands that we register such securities. Both the holders
of the majority of the insider shares and the holders of a majority of the units or shares issued in payment of
working capital loans made to us can elect to exercise these registration rights at any time after we consummate a
business combination. In addition, the holders have certain &ldquo;piggy-back&rdquo; registration rights with respect to registration
statements filed subsequent to our consummation of our initial business combination. We will bear the expenses incurred in connection
with the filing of any such registration statements.</P>



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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_016"></A>UNDERWRITING</B>&nbsp;</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We intend to offer our securities described
in this prospectus through the underwriters named below. Subject to the terms and conditions of the underwriting agreement, the
underwriters, through their representative and sole book-running manager of the offering, Chardan Capital Markets, LLC, have severally
agreed to purchase from us, on a firm commitment basis, the following respective number of units at a public offering price less
the underwriting discounts and commissions set forth on the cover page of this prospectus:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</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 STYLE="font-weight: bold; text-align: left; border-bottom: Black 1pt solid">Underwriter</TD>
<TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
<TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Number of Units</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Chardan Capital Markets, LLC</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
<TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">B. Riley Securities, Inc.</TD>
<TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
<TD STYLE="text-align: right">&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
<TD STYLE="width: 70%; text-indent: -9pt; padding-left: 9pt">Total</TD>
<TD STYLE="width: 10%">&nbsp;</TD>
<TD STYLE="width: 1%; text-align: left">&nbsp;</TD>
<TD STYLE="width: 18%; text-align: right">5,000,000</TD>
<TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
</TABLE>



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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">A copy of the form of underwriting agreement
has been filed as an exhibit to the registration statement of which this prospectus forms a part.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Listing of our Securities</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-align: justify">We expect our units, common stock and
rights to be quoted on Nasdaq under the symbols &ldquo;SPKU,&rdquo; &ldquo;SPK,&rdquo; and &ldquo;SPKR,&rdquo;
respectively. We anticipate 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 rights are eligible to trade separately, we anticipate that the
shares of our common stock and rights will be listed separately and as a unit on Nasdaq. We cannot guarantee that our securities
will be approved for listing on Nasdaq or that they will continue to be listed on Nasdaq after this offering.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Pricing of this Offering</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-align: justify">We have been advised by the representative
that the underwriters propose to offer the units to the public at the offering price set forth on the cover page of this prospectus.
</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Prior to this offering there has been
no public market for our securities. The public offering price of the units was negotiated between us and the representative of
the underwriters. Factors considered in determining the prices and terms of the units include:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%; text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="width: 94%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">the history of other similarly structured blank check companies;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">prior offerings of those companies;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">our prospects for consummating our initial business combination with an operating business at attractive values;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">our capital structure;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">securities exchange listing requirements;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">market demand;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">expected liquidity of our securities; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">general conditions of the securities markets at the time of the offering.</FONT></TD></TR>
</TABLE>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">However, although these factors were
considered, the determination of our offering price is more arbitrary than the pricing of securities for an operating company in
a particular industry since the underwriters are unable to compare our financial results and prospects with those of public companies
operating in the same industry.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Over-Allotment Option</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-align: justify">We have granted the underwriters an
option to buy up to 750,000 additional units. The underwriters may exercise this option solely for the purpose of covering over-allotments,
if any, made in connection with this offering. The underwriters have 45&nbsp;days from the date of this prospectus to exercise
this option. If the underwriters exercise this option, they will each purchase additional units approximately in proportion to
the amounts specified in the table above.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Commissions and Discounts</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-align: justify">The following table shows the public
offering price, underwriting discount to be paid by us to the underwriters and the proceeds, before expenses, to us. This information
assumes either no exercise or full exercise by the representative of the underwriters of its over-allotment option.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</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 STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Per Unit</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Without</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Over-allotment</B></FONT></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>With</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Over-allotment</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 46%; text-indent: -9pt; padding-left: 9pt">Public offering price</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">10.00</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">50,000,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 11%; text-align: right">57,500,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Discount<SUP>(1)</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.50</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,875,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Proceeds before expenses<SUP>(2)</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">9.50</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">47,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">54,625,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>


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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 4%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(1)</FONT></TD>
<TD STYLE="width: 96%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Such amount includes $1,500,000, or $0.30 per unit, (or $1,725,000 if the underwriters&rsquo; over-allotment option is exercised in full) payable to the underwriters for deferred underwriting commissions upon completion of a business combination. In addition, we have agreed to issue Chardan and/or its designees at the closing of our offering, a discount equal to 0.5% of the amount sold in this offering in the form of our shares  at a price of $10.00 per share (25,000 shares if the over-allotment option is not exercised, and up to 28,750 if the over-allotment option is exercised in full).</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(2)</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The offering expenses are estimated at $500,000, assuming there is no exercise of the underwriters&rsquo; over-allotment option.</FONT></TD></TR>
</TABLE>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">No discounts or commissions will be
paid on the sale of the private units.</P>

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition to the underwriting discount,
we paid Chardan $25,000, upon the execution of the engagement letter, as an advance against out-of-pocket accountable expenses
actually anticipated to be incurred by the underwriters. We have agreed to pay for legal and accounting fees and disbursements;
the costs of preparing, printing, mailing and delivering the Registration Statement, the preliminary and final prospectus contained
therein and amendments thereto, post-effective amendments and supplements thereto, the Underwriting Agreement and related documents
(all in such quantities as Chardan may reasonably require); preparing and printing stock certificates and right certificates;
the costs of any &ldquo;due diligence&rdquo; meetings; filing fees (including SEC filing fees), costs and expenses (including
third party expenses and disbursements) incurred in registering the offering, FINRA filing fees; preparation of leather bound
volumes and Lucite cube mementos in such quantities as Chardan may reasonably request; transfer taxes; and transfer and right
agent and registrar fees, which such fees and expenses are capped at an aggregate of $125,000.</P>

<P STYLE="font: 11pt/normal Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Right of First Refusal</B></P>

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

<P STYLE="margin: 0; text-align: justify">Subject to certain conditions, we granted Chardan, for a period of
18&nbsp;months after the date of the consummation of our business combination, a right of first refusal to act as co-manager
or placement agent, with at least 25% of the economics, for any and all future public and private equity and debt offerings. In accordance with
FINRA Rule&nbsp;5110(f)(2)(E)(i), such right of first refusal shall not have a duration of more than three years from the
effective date of the registration statement of which this prospectus forms a part.</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Representative&rsquo;s 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-align: justify">We have agreed to issue Chardan and/or
its designees 25,000 ordinary shares (or 28,750 shares if the underwriter&rsquo;s over-allotment option is exercised in
full) upon the consummation of this offering.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Chardan has agreed not to transfer,
assign or sell any such shares until the completion of our initial business combination. In addition, Chardan 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 9 months from the closing of this offering (or up to 15 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).</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The representative&rsquo;s shares 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 Rule 5110(e)(1) of the FINRA
Manual. Pursuant to FINRA Rule 5110(e)(1), these securities will not be sold during the offering, or sold, transferred, assigned,
pledged, or hypothecated, or 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 or commencement of sales of the public offering, except to
any underwriter and selected dealer participating in the offering and their bona fide officers or partners, provided that all
securities so transferred remain subject to the lockup restriction above for the remainder of the time period.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Regulatory Restrictions on Purchase of Securities</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-align: justify">Rules of the SEC may limit the ability
of the underwriters to bid for or purchase our units before the distribution of the units is completed. However, the underwriters
may engage in the following activities in accordance with the rules:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%; text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="width: 94%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Stabilizing Transactions. The underwriters may make bids or purchases solely for the purpose of preventing or retarding a decline in the price of our units, as long as stabilizing bids do not exceed the offering price of $10.00 and the underwriters comply with all other applicable rules.</FONT></TD></TR>
</TABLE>

<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"></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%; text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="width: 94%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Over-Allotments and Syndicate Coverage Transactions. The underwriters may create a short position in our units by selling more of our units than are set forth on the cover page of this prospectus up to the amount of the over-allotment option. This is known as a covered short position. The underwriters may also create a short position in our units by selling more of our units than are set forth on the cover page of this prospectus and the units allowed by the over-allotment option. This is known as a naked short position. If the underwriters create a short position during the offering, the representative may engage in syndicate covering transactions by purchasing our units in the open market. The representative may also elect to reduce any short position by exercising all or part of the over-allotment option. Determining what method to use in reducing the short position depends on how the units trade in the aftermarket following the offering. If the unit price drops following the offering, the short position is usually covered with shares purchased by the underwriters in the aftermarket. However, the underwriters may cover a short position by exercising the over-allotment option even if the unit price drops following the offering. If the unit price rises after the offering, then the over-allotment option is used to cover the short position. If the short position is more than the over-allotment option, the naked short must be covered by purchases in the aftermarket, which could be at prices above the offering price.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Penalty Bids. The representative may reclaim a selling concession from a syndicate member when the units originally sold by the syndicate member are purchased in a stabilizing or syndicate covering transaction to cover syndicate short positions.</FONT></TD></TR>
</TABLE>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Stabilization and syndicate covering
transactions may cause the price of our securities to be higher than they would be in the absence of these transactions. The imposition
of a penalty bid might also have an effect on the prices of our securities if it discourages resales of our securities.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Neither we nor the underwriters make
any representation or prediction as to the effect that the transactions described above may have on the price of our securities.
These transactions may occur on Nasdaq, in the over-the-counter market or on any trading market. If any of these transactions are
commenced, they may be discontinued without notice at any time.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Other Terms</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-align: justify">Except as set forth 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, among other things, introduce us to potential target businesses
or assist us in raising additional capital, as needs may arise in the future. If any underwriter provides services to us after
this offering, we may pay the 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 the underwriter and no fees for such services will be paid to the underwriter
prior to the date which is 90 days after the date of this prospectus, unless FINRA determines that such payment would not be deemed
underwriter&rsquo;s compensation in connection with this offering.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Indemnification</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-align: justify">We have agreed to indemnify the underwriters
against some liabilities, including civil liabilities under the Securities Act, or to contribute to payments the underwriters may
be required to make in this respect.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Selling Restrictions</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"><B><I>Canada</I></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 0 0 16.2pt"><B><I>Resale Restrictions</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 16.2pt">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We intend to distribute our securities
in the Province of Ontario, Canada (the &ldquo;Canadian Offering Jurisdiction&rdquo;) by way of a private placement and exempt from
the requirement that we prepare and file a prospectus with the securities regulatory authorities in such Canadian Offering Jurisdiction.
Any resale of our securities in Canada must be made under applicable securities laws that will 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. Canadian resale restrictions in some circumstances may apply to resales of
interests made outside of Canada. Canadian purchasers are advised to seek legal advice prior to any resale of our securities. We
may never be a &ldquo;reporting issuer&rdquo;, as such term is defined under applicable Canadian securities legislation, in any province
or territory of Canada in which our securities will be offered and there currently is no public market for any of the securities
in Canada, and one may never develop. Canadian investors are advised that we have no intention to file a prospectus or similar
document with any securities regulatory authority in Canada qualifying the resale of the securities to the public in any province
or territory in Canada.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 16.2pt"><B><I>Representations of Purchasers</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 16.2pt">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">A Canadian purchaser will be required
to represent to us and the dealer from whom the purchase confirmation is received that:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%; text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="width: 94%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">the purchaser is entitled under applicable provincial securities laws to purchase our securities without the benefit of a prospectus qualified under those securities laws;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">where required by law, that the purchaser is purchasing as principal and not as agent;</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%; width: 3%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%; width: 3%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%; width: 94%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">the purchaser has reviewed the text above under Resale Restrictions; and</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">the purchaser acknowledges and consents to the provision of specified information concerning its purchase of our securities to the regulatory authority that by law is entitled to collect the information.</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 0.6in; text-align: justify; text-indent: -0.3in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 16.2pt"><B><I>Rights of Action &mdash; Ontario Purchasers
Only</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 16.2pt">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Under Ontario securities legislation,
certain purchasers who purchase a security offered by this prospectus during the period of distribution will have a statutory right
of action for damages, or while still the owner of our securities, for rescission against us in the event that this prospectus
contains a misrepresentation without regard to whether the purchaser relied on the misrepresentation. The right of action for damages
is exercisable not later than the earlier of 180 days from the date the purchaser first had knowledge of the facts giving rise
to the cause of action and three years from the date on which payment is made for our securities. The right of action for rescission
is exercisable not later than 180 days from the date on which payment is made for our securities. If a purchaser elects to exercise
the right of action for rescission, the purchaser will have no right of action for damages against us. In no case will the amount
recoverable in any action exceed the price at which our securities were offered to the purchaser and if the purchaser is shown
to have purchased the securities with knowledge of the misrepresentation, we will have no liability. In the case of an action for
damages, we will not be liable for all or any portion of the damages that are proven to not represent the depreciation in value
of our securities as a result of the misrepresentation relied upon. These rights are in addition to, and without derogation from,
any other rights or remedies available at law to an Ontario purchaser. The foregoing is a summary of the rights available to an
Ontario purchaser. Ontario purchasers should refer to the complete text of the relevant statutory provisions.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 16.2pt"><B><I>Enforcement of Legal Rights</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 16.2pt">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">All of our directors and officers as
well as the experts named herein are 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 of our assets and the assets of those persons are 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.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 16.2pt"><B><I>Collection of Personal Information</I></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 16.2pt">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">If a Canadian purchaser is resident
in or otherwise subject to the securities laws of the Province of Ontario, the Purchaser authorizes the indirect collection of
personal information pertaining to the Canadian purchaser by the Ontario Securities Commission (the &ldquo;OSC&rdquo;) and each Canadian
purchaser will be required to acknowledge and agree that the Canadian purchaser has been notified by us (i) of the delivery to
the OSC of personal information pertaining to the Canadian purchaser, including, without limitation, the full name, residential
address and telephone number of the Canadian purchaser, the number and type of securities purchased and the total purchase price
paid in respect of the securities, (ii) that this information is being collected indirectly by the OSC under the authority granted
to it in securities legislation, (iii) that this information is being collected for the purposes of the administration and enforcement
of the securities legislation of Ontario, and (iv) that the title, business address and business telephone number of the public
official in Ontario who can answer questions about the OSC&rsquo;s indirect collection of the information is the Administrative Assistant
to the Director of Corporate Finance, the Ontario Securities Commission, Suite 1903, Box 5520, Queen Street West, Toronto, Ontario,
M5H 3S8, Telephone: (416) 593-8086, Facsimile: (416) 593-8252.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 16.2pt"><B><I>Hong Kong</I></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-align: justify">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.&nbsp;32, Laws of Hong Kong), or (ii) to &ldquo;professional investors&rdquo; 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 &ldquo;prospectus&rdquo; within the meaning of the Companies Ordinance
(Cap.&nbsp;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 &ldquo;professional investors&rdquo; within the meaning of the Securities and Futures Ordinance (Cap. 571, Laws of Hong Kong)
and any rules made thereunder.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_017"></A>LEGAL MATTERS</B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Loeb &amp; Loeb LLP, New York, New
York, is acting as counsel in connection with the registration of our securities under the Securities Act, and as such, will pass
upon the validity of the securities offered in this prospectus. In connection with this offering,&nbsp;White and Williams LLP
is acting as counsel to the underwriters.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_018"></A>EXPERTS</B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The financial statements of SPK Acquisition
Corp. as of February 10, 2021 and for the period from December 31, 2020 (inception) through February 10, 2021 &nbsp;included
in this prospectus have been audited by UHY LLP, 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 SPK 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 on such report given upon such firm as experts in auditing and accounting.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_019"></A>WHERE YOU CAN FIND ADDITIONAL INFORMATION</B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We have filed with the SEC a registration
statement on Form S-1 under the Securities Act with respect to the units 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 shares, 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.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">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 <I>www.sec.gov</I>. You may also read and copy any document we file with the SEC at its public
reference facility at 100 F Street, N.E., Washington, D.C. 20549.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SPK ACQUISITION CORP.</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_020"></A>INDEX TO FINANCIAL STATEMENTS</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
<TD STYLE="width: 90%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 10%; padding-right: 0.8pt; text-align: center; line-height: 107%; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Page</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#a_021">Report of Independent Registered Public Accounting Firm</A></FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">F-2</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Financial Statements:</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><A HREF="#a_022"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Balance
Sheet as of February 10, 2021</FONT></A></TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">F-3</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><A HREF="#a_023"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Statement
of Operations for the period from December 31, 2020 (inception) through February 10, 2021</FONT></A></TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">F-4</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><A HREF="#a_024"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Statement
of Changes in Shareholder&rsquo;s Equity for the period from December 31, 2020 (inception) <FONT STYLE="color: blue; line-height: 107%"><U>through
February 10, 2021</U></FONT></FONT></A></TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">F-5</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><A HREF="#a_025"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Statement
of Cash Flows for the period from December 31, 2020 (inception) through February 10, 2021</FONT></A></TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">F-6</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="#a_026">Notes to Financial Statements</A></FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">F-7</FONT></TD></TR>
</TABLE>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="a_021"></A><B>REPORT OF
INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">To the Board of Directors and<BR>
Shareholder of SPK Acquisition Corp.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Opinion on the Financial Statements</B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We have audited the accompanying
balance sheets of SPK Acquisition Corp. (the Company) as of February 10, 2021, and the related statements of operations, shareholder&rsquo;s
equity, and cash flows as of and for the period from December 31, 2020 (inception) to February 10, 2021, and the related notes
(collectively referred to as the &ldquo;financial statements&rdquo;). In our opinion, the financial statements present fairly,
in all material respects, the financial position of the Company as of February 10, 2021, and the results of its operations and
its cash flows for the period from December 31, 2020 (inception) through February 10, 2021, in conformity with accounting principles
generally accepted in the United States of America.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Substantial Doubt about the Company&rsquo;s
Ability to Continue as a Going Concern</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The accompanying financial statements have
been prepared assuming the Company will continue as a going concern. As discussed in Note 1 to the financial statements, the Company
has no revenue, its business plan is dependent on the completion of a financing transaction and the Company&rsquo;s cash and working
capital as February 10, 2021 are not sufficient to complete its planned activities for the upcoming year. These conditions raise
substantial doubt about the Company&rsquo;s ability to continue as a going concern. Management&rsquo;s plans regarding these matters
are also described in Note 1 to the financial statements. The financial statements do not include any adjustments that might result
from the outcome of this uncertainty.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Basis for Opinion</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">These financial statements are the responsibility
of the Company&rsquo;s management. Our responsibility is to express an opinion on the Company&rsquo;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.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We conducted our audit in accordance with
the standards of the PCAOB and in accordance with auditing standards generally accepted in the United States of America. 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 Company&rsquo;s
internal control over financial reporting. Accordingly, we express no such opinion.</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 82%; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">UHY LLP</FONT></TD>
<TD STYLE="width: 18%; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
<TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have served as the Company&rsquo;s auditor since 2021.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
York, New York</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 1, 2021</FONT></TD>
<TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt/normal Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SPK ACQUISITION CORP.</B><BR>
<B><A NAME="a_022"></A>BALANCE SHEET </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FEBRUARY 10, 2021</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-indent: -10; padding: 0 0 0 10">Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 70%; font-weight: normal; text-align: left; text-indent: -10; padding: 0 0 0 20pt; font-style: normal">Current
    asset &ndash; Cash</TD><TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 18%; text-align: right">162,500</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 20pt; text-indent: -10">Deferred offering costs</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">87,500</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding: 0 0 0 10; text-indent: -10">Total assets</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">250,000</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 12pt; text-indent: -10; padding: 0 0 0 10">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -10; padding: 0 0 0 10">Liabilities and Shareholder&rsquo;s Equity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding: 0 0 0 10; text-indent: -10">Current liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10; padding: 0 0 0 20pt">Promissory note &ndash; related party</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">200,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 20pt; text-indent: -10">Accrued offering costs and expenses</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">25,625</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding: 0 0 0 10; text-indent: -10">Total current liabilities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">225,625</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10; padding: 0 0 0 10">Commitments and contingencies</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -10; padding: 0 0 0 10">Shareholder&rsquo;s Equity:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10; padding: 0 0 0 20pt"><FONT STYLE="font-size: 10pt">Common stock, $0.0001 par
value; 5,000,000 shares authorized; 1,437,500 shares issued and outstanding<SUP>(1)</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">144</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10; padding: 0 0 0 20pt">Additional paid-in capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">24,856</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 20pt; text-indent: -10">&nbsp;Accumulated deficit</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(625</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding: 0 0 0 10; text-indent: -10">Total shareholder&rsquo;s equity</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">24,375</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding: 0 0 0 10; text-indent: -10">Total Liabilities and Shareholder&rsquo;s
    Equity</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">250,000</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>


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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 4%"><SUP>(1)</SUP></TD>
<TD STYLE="text-align: justify; width: 96%">Includes an aggregate of up to 187,500 shares subject to forfeiture to the extent that the underwriters&rsquo; over-allotment option is not exercised in full or in part (See Note 5).</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify; text-indent: -22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">The accompanying notes are an integral part
of the financial statements.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_023"></A>SPK ACQUISITION CORP.<BR>
STATEMENT OF OPERATIONS<BR>
FOR THE PERIOD FROM DECEMBER 31, 2020 (INCEPTION) THROUGH FEBRUARY 10, 2021</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt">Formation costs</TD><TD STYLE="width: 10%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 18%; border-bottom: Black 1pt solid; text-align: right">625</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt; text-indent: -10pt; padding-left: 10pt">Net loss</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(625</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic
and diluted weighted average shares outstanding<SUP>(1)</SUP></FONT></TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,250,000</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; text-indent: -10pt; padding-left: 10pt">Basic and diluted net loss per share</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(0.00</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD></TR>
</TABLE>


<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4%"><SUP>(1)</SUP></TD><TD STYLE="text-align: justify; width: 96%">Excludes 187,500 shares of common stock subject to forfeiture if the underwriters&rsquo; over-allotment
is not exercised in full or in part (see Note 5).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify; text-indent: -22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">The accompanying notes are an integral part
of the financial statements.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_024"></A>SPK ACQUISITION CORP.<BR>
STATEMENT OF CHANGES IN SHAREHOLDER&rsquo;S EQUITY&#9;</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FOR THE PERIOD FROM DECEMBER 31, 2020 (INCEPTION)
THROUGH FEBRUARY 10, 2021</B></P>

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

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




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></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 STYLE="text-align: center; padding: 0 0 0 10; text-indent: -10">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="7" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Common Stock</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; padding: 0 0 0 10; text-align: center; text-indent: -10">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Shares<SUP>(1)</SUP></B></FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Additional Paid-in Capital</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Accumulated</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Deficit</B></FONT></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Total Shareholder's</B></FONT><BR> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Equity</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-indent: -10; padding: 0 0 0 10">Balance as of December 31, 2020 (inception)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 35%; text-align: left; text-indent: -10; padding: 0 0 0 10">Common stock issued to sponsor</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">1,437,500</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">144</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">24,856</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">&mdash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">25,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">Net loss</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(625</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(625</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; padding: 0 0 0 10; text-indent: -10">Balance as of February 10, 2021</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,437,500</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">144</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">24,856</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(625</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">24,375</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>




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


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 4%"><SUP>(1)</SUP></TD><TD STYLE="text-align: justify; width: 96%">Includes 187,500 shares of common stock subject to forfeiture if the underwriters&rsquo; over-allotment
is not exercised in full or in part (see Note 5).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify; text-indent: -22.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 24pt; text-align: center; text-indent: -24pt">The accompanying
notes are an integral part of the financial statements.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_025"></A>SPK ACQUISITION CORP.<BR>
STATEMENT OF CASH FLOWS<BR>
FOR THE PERIOD FROM DECEMBER 31, 2020 (INCEPTION) THROUGH FEBRUARY 10, 2021 </B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -10; padding: 0 0 0 10">Cash flows from operating activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 70%; text-align: left; padding: 0 0 0 10; text-indent: -10">&nbsp;Net loss</TD><TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 18%; text-align: right">(625</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">&nbsp;Changes in operating assets and liabilities:</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">&nbsp;Accrued expenses</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">625</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10"><B>&nbsp;Net cash (used in) operating activities</B></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -10; padding: 0 0 0 10">&nbsp;Cash flows from financing activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">&nbsp;Deferred offering costs</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(62,500</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">&nbsp;Issuance of capital stock to sponsor</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">&nbsp;Loan from sponsor</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">200,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">&nbsp;Net cash flows from financing activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">162,500</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -10; padding: 0 0 0 10">Net change in cash</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">162,500</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; padding: 0 0 0 10; text-indent: -10">Cash, on December 31, 2020 (inception)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-indent: -10; padding: 0 0 0 10">Cash, on February 10, 2021</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">162,500</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 12pt; text-indent: -10; padding: 0 0 0 10">&nbsp;</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -10; padding: 0 0 0 10">Supplemental disclosure of non-cash
    activities:</TD><TD STYLE="font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 12pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0 0 0 10; text-indent: -10">&nbsp;Deferred offering costs included in accrued offering
    cost</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">25,000</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">The accompanying notes are an integral part
of the financial statements.</P>

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

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

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    <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 Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_026"></A>SPK ACQUISITION CORP.<BR>
NOTES TO FINANCIAL STATEMENTS</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Note 1&nbsp;&mdash; Organization and Business
Operation</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">SPK Acquisition Corp. (the &ldquo;Company&rdquo;)
is a newly organized blank check company incorporated pursuant to the General Corporation Law of the State of Delaware on December
31, 2020 that was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization
or similar business combination with one or more businesses (the &ldquo;initial business combination&rdquo;). The Company&rsquo;s
efforts to identify a prospective target business will not be limited to a particular industry or geographic region, although
the Company intends to focus on operating businesses in the sectors of telecommunications, media, and technology (&ldquo;TMT&rdquo;)
in Asia. The Company has not selected any specific business combination target with respect to the initial business combination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of February 10, 2021, the Company had not
commenced any operations. All activity for the period from December 31, 2020, the Company&rsquo;s inception, through February 10, 2021,
relates to the Company&rsquo;s formation and the proposed initial public offering (as defined below). The Company has selected December
31 as its fiscal year end.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&rsquo;s sponsor is SPK Acquisition LLC,
a Delaware limited liability company (the &ldquo;sponsor&rdquo;). The Company&rsquo;s ability to commence operations is contingent upon
obtaining adequate financial resources through a proposed public offering (the &ldquo;proposed public offering,&rdquo; see Note 3)
and a proposed private placement by the sponsor (the &ldquo;private placement,&rdquo; see Note 4).</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Under the terms of a non-binding engagement
letter with an underwriter (see Note 6), the Company will have until 9 months from the closing of this offering (or 15 months
from the closing of this offering if the Company has filed a proxy statement, registration statement or similar filing
for an initial business combination within 9 months from the closing of this offering but have not completed the initial business
combination within such 9-month period) to consummate an initial business combination. If the Company anticipates that it may
not be able to consummate the initial business combination within 9 months and it has not filed a proxy statement, registration
statement or similar filing for an initial business combination the Company may, but is not obligated to, extend the period of
time to consummate a business combination two times by an additional three months each time (for a total of up to 15 months to
complete a business combination).</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Proceeds from this proposed public
offering shall be deposited into a United States-based trust account (the &ldquo;trust account&rdquo;). Except as described
below, these funds will not be released until the earlier of the completion of the Company&rsquo;s initial business combination
and the Company&rsquo;s redemption of the shares of common stock sold in this offering upon the Company&rsquo;s failure to consummate
a business combination within the required period.</P>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Notwithstanding the foregoing, there can be
released to the Company from the trust account any interest earned on the funds in the trust account that the Company needs to
pay its income or other tax obligations. With this exception, expenses incurred may be paid prior to a business combination only
from the net proceeds of this offering permitted to be held outside the trust account.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If the Company is unable to consummate its
initial business combination within the agreed upon term, the Company will, as promptly as possible, redeem 100% of the Company&rsquo;s
outstanding public shares for a pro rata portion of the funds held in the trust account, including a pro rata portion of any interest
earned on the funds held in the trust account and not previously released to pay the Company&rsquo;s taxes, and then seek to dissolve
and liquidate. However, the Company may not be able to distribute such amounts as a result of claims of creditors which may take
priority over the claims of the Company&rsquo;s public stockholders. In the event of the Company&rsquo;s dissolution and liquidation, the private
units will expire and will be worthless.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&rsquo;s initial business combination
must be with one or more target businesses that together have a fair market value equal to at least 80% of the balance in the trust
account (less any deferred underwriting commissions and net of taxes payable) at the time of the signing of a definitive agreement
to enter into a business combination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Going Concern Consideration</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of February10, 2021, the Company had $162,500
in cash and a working capital deficit of $63,125 (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. Management plans to address this uncertainty through the proposed
public offering as discussed in Note 3 and the private placement described 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.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SPK ACQUISITION CORP.<BR>
NOTES TO FINANCIAL STATEMENTS</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Note 2&nbsp;&mdash; Significant Accounting
Policies</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Basis of Presentation</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The accompanying financial statements are presented
in conformity with accounting principles generally accepted in the United&nbsp;States of America (&ldquo;US GAAP&rdquo;) and pursuant
to the rules and regulations of the Securities and Exchange Commission (the &ldquo;SEC&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Emerging Growth Company Status</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">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 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 shareholder approval of any golden parachute
payments not previously approved.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">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 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 that
is neither an emerging growth company nor an emerging growth company that has opted out of using the extended transition period
difficult or impossible because of the potential differences in accounting standards used.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Use of Estimates</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in
conformity with US 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
during the reporting period. Actual results could differ from those estimates.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Cash and Cash Equivalents</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company considers cash equivalents to be
highly liquid investments with a maturity at the date of purchase of three months or less. The Company did not have any cash equivalents
at February 10, 2021.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Deferred Offering Costs</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Deferred offering costs consist of underwriting,
legal, accounting and other expenses incurred through the balance sheet date that are directly related to the proposed public offering
and that will be charged to shareholders&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 expense.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Net Loss Per Share</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Basic and diluted net loss per share is computed
by dividing net loss by the weighted average number of shares outstanding during the period, excluding 187,500 shares subject
to forfeiture by the Company. The Company has not issued any dilutive securities for the period from inception through
February 10, 2021.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SPK ACQUISITION CORP.<BR>
NOTES TO FINANCIAL STATEMENTS</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Note 2&nbsp;&mdash; Significant Accounting
Policies (Continued)</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Fair Value of Financial Instruments</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The fair value of the Company&rsquo;s assets and
liabilities approximates the carrying amounts represented in the accompanying balance sheet, primarily due to their short-term
nature.</P>

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has incurred a net operating loss
of $625 for United State Federal tax purposes. This loss is available to offset future taxable income subject to certain limitations
resulting in a deferred tax asset. The Company has recorded a full valuation allowance against the deferred tax asset. Accordingly,
the Company has not recorded a tax provision in the accompanying financial statements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Recent Accounting Pronouncements</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Note 3&nbsp;&mdash; Proposed Public Offering</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In the proposed public offering, the Company
will offer for sale 5,000,000 units at a price of $10 per unit (the &ldquo;public units&rdquo;) for gross proceeds of $50,000,000.&nbsp;The
units consist of one share of common stock and the right to receive one-tenth (1/10) of a share of common stock upon consummation
of an initial business combination. The non-binding agreement calls for an over-allotment option equal to 15% of the total number
of units initially offered to the public. The Company anticipates that the units will contain 1 share of the Company&rsquo;s common
stock and may contain other securities such as rights.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Note 4&nbsp;&mdash; Private Placement</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The sponsor has offered to purchase units
from the Company (&ldquo;private units&rdquo;) at $10.00 per private unit. These purchases will take place on a private placement
basis simultaneously with the consummation of this offering. All of the proceeds the Company receive from these sales will
be placed in the trust account described in Note 1. If the over-allotment option is exercised by the underwriters, the sponsor
has offered to purchase from the Company at a price of $10.00 per private unit an additional number of private units <I>pro rata
</I>with the amount of the over-allotment option exercised.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SPK ACQUISITION CORP.<BR>
NOTES TO FINANCIAL STATEMENTS</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Note 5&nbsp;&mdash; Related Party Transactions</B></P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to a subscription agreement
dated January 28, 2021, the Company issued 1,437,500 shares of common stock to the sponsor for $25,000, or approximately $0.017
per share (&ldquo;insider shares&rdquo;). The 1,437,500 founder shares held or controlled by the insiders include an aggregate of
up to 187,500 shares subject to forfeiture to the extent that the underwriters&rsquo; over-allotment option is not exercised in full
or in part.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Sponsor Promissory Note</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On February 10, 2021, the Company issued an
unsecured promissory note to the sponsor, pursuant to which the Company&nbsp;&nbsp;may borrow up to an aggregate principal
amount of $200,000 to be used for a portion of the expenses of the offering. This loan is non-interest bearing, unsecured, and
is due at the consummation of an initial public offering of the Company&rsquo;s securities or the date on which the Company determines
not to conduct an initial public offering of its securities. The outstanding principal balance of the sponsor promissory note
on February 10, 2021 was $200,000.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Additionally, if the funds held
outside the trust account upon the consummation of the proposed public offering are insufficient to meet the Company&rsquo;s working
capital needs, the Company&rsquo;s sponsor or their affiliates may, but are not obligated to loan the Company funds, from time
to time or at any time in an amount they deem reasonable at their sole discretion. Each loan would be evidenced by a promissory
note. The notes would either be paid upon consummation of the Company&rsquo;s initial business combination without interest, or
at the discretion of the holder up to $1,500,000 of the notes may be converted upon consummation of the Company&rsquo; initial
business combination into private units at a price of $10.00 per unit. If the Company does not complete a business combination,
the loans will only be repaid with funds not held in the trust account, to the extent available.</P>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Note 6&nbsp;&mdash; Commitments&nbsp;and
Contingencies</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Risks and Uncertainties</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">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&rsquo;s financial position, results of its operations 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.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition to the initial retainer paid to
its counsel in connection with the public offering, the Company has agreed to pay its counsel $150,000 upon closing of the initial
public offering and $25,000 upon closing of the initial business combination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Underwriter&rsquo;s Agreement</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On January 21, 2021, the Company entered into
a non-binding agreement with an underwriter who will act as lead managing underwriter of the proposed public offering. Pursuant
to this agreement, the underwriter would be entitled to an underwriting discount of 5.5%, which will be paid as follows: (a) 2.0%
of the underwriting discount shall be paid in cash at the offering; (b) the Company shall issue shares of its common stock valued
at $10 per share in an amount equal to 0.5% of the gross proceeds of the offering; and (c) 3.0% shall be deferred until the consummation
of a business combination involving the Company. Upon the registration statement filed with the SEC being declared effective,
the Company and the underwriter will enter into a definitive underwriting agreement.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Right of First Refusal</B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has granted the underwriter,
subject to certain conditions for a period of 18 months after the date of the consummation of the initial business combination,
a right of first refusal to act as a co-manager or placement agent, with at least 25% of the economics, for any and all future
public and private equity and debt offerings. The duration of such right of first refusal is limited not more than three years
by certain regulatory rules.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The holders of the insider&rsquo;s shares
are entitled to make a demand that the Company register the resale of the insider shares at any time commencing on the date
that we consummate our initial business combination.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SPK ACQUISITION CORP.<BR>
NOTES TO FINANCIAL STATEMENTS</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Note 7&nbsp;&mdash; Shareholder&rsquo;s Equity</B></P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company is authorized to issue
5,000,000 shares of common stock with a par value of $0.0001 per share. As of February 10, 2021, there were 1,437,500 shares issued
and outstanding. The Company plans to file an Amended and Restated Certificate of Incorporation prior to the completion of
the proposed public offering to increase the number of authorized shares to 10,000,000 shares. As of February 10, 2021, there
were 1,437,500 shares issued and outstanding, of which an aggregate of up to 187,500 shares are subject to forfeiture to the extent
that the underwriters&rsquo; over-allotment option is not exercised in full or in part, so that the insiders will collectively
own 20% of the Company&rsquo;s issued and outstanding common stock after the proposed public offering (assuming the insiders do
not purchase any public shares in the proposed public offering and excluding the private units).</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Except in cases where the Company is not the
surviving Company in a business combination, the holders of the rights will automatically receive 1/10 of a share of common stock
upon consummation of the Company&rsquo;s initial business combination. In the event the Company will not be the surviving
company upon completion of the initial business combination, each holder of a right will be required to affirmatively convert
his, her or its rights in order to receive the 1/10 of a share underlying each right upon consummation of the business combination.
The Company will not issue fractional shares in connection with an exchange of rights. Fractional shares will either be
rounded down to the nearest whole share or otherwise addressed in accordance with the applicable provisions of the Delaware General
Corporation Law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Note 8&nbsp;&mdash; Subsequent Events</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company considered subsequent events that
occurred after balance sheet date through March 1, 2021. Management did not identify any subsequent events that would have
required adjustment or disclosure in the financial statements.</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"></P>

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<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-align: justify"><B>Until __________, 2021 (25 days after
the date of this prospectus), all dealers that buy, sell or trade our shares of common stock, whether or not participating in this
offering, may be required to deliver a prospectus. This is in addition to the dealers&rsquo; obligation to deliver a prospectus when
acting as underwriters and with respect to their unsold allotments or subscriptions.</B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">No dealer, salesperson or any other
person is authorized to give any information or make any representations in connection with this offering other than those contained
in this prospectus and, if given or made, the information or representations must not be relied upon as having been authorized
by us. This prospectus does not constitute an offer to sell or a solicitation of an offer to buy any security other than the securities
offered by this prospectus, or an offer to sell or a solicitation of an offer to buy any securities by anyone in any jurisdiction
in which the offer or solicitation is not authorized or is unlawful.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>$50,000,000</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SPK Acquisition Corp.</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>5,000,000 Units</B></P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Sole Book-Running Manager<BR>
<B>Chardan</B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">[&#9679;], 2021</P>

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

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

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    <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/normal Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>INFORMATION NOT REQUIRED IN PROSPECTUS</B></P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Item 13. Other Expenses of Issuance and Distribution.</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-align: justify">The estimated expenses payable by us
in connection with the offering described in this registration statement (other than the underwriting discount and commissions)
will be as follows:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%; text-align: left; text-indent: -10; padding: 0 0 0 10">Trustees fee</TD><TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 18%; text-align: right">6,500</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10; padding: 0 0 0 10">SEC Registration fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6,932</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10; padding: 0 0 0 10">FINRA filing fee</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">10,031</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10; padding: 0 0 0 10">Accounting fees and expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">40,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10; padding: 0 0 0 10">Nasdaq listing fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">55,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10; padding: 0 0 0 10">Printing and engraving expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">45,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -10; padding: 0 0 0 10">Legal fees and expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">300,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0 0 0 10; text-indent: -10"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Miscellaneous<SUP>(1)</SUP></FONT></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">36,537</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0 0 0 20pt; text-indent: -10">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">500,000</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>


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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="width: 96%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This amount represents additional expenses that may be incurred by the company in connection with the offering and over and above those specifically listed above, including liability insurance, distribution and mailing costs.</FONT></TD></TR>
</TABLE>
<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"><B>Item 14. Indemnification of Directors and Officers.</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-align: justify">Our certificate of incorporation provides
that all directors, officers, employees and agents of the registrant shall be entitled to be indemnified by us to the fullest extent
permitted by Section 145 of the Delaware General Corporation Law.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Section 145 of the Delaware General
Corporation Law concerning indemnification of officers, directors, employees and agents is set forth below.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&ldquo;Section 145. Indemnification of
officers, directors, employees and agents; insurance.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(a)</FONT></TD>
<TD STYLE="width: 94%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt 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>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(b)</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt 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/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

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    <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/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(c)</FONT></TD>
<TD STYLE="width: 94%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt 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) and (b) 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>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(d)</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">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.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(e)</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt 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>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(f)</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt 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>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(g)</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt 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>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(h)</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt 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>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(i)</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt 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>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(j)</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt 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>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(k)</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt 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/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Insofar as indemnification for liabilities
arising under 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 its counsel the matter has been settled by controlling precedent, submit to the 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.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">In accordance with Section 102(b)(7)
of the DGCL, our 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 unless they violated their duty of loyalty to the company or its stockholders, acted
in bad faith, knowingly or intentionally violated the law, authorized unlawful payments of dividends, unlawful stock purchases
or unlawful redemptions, or derived improper personal benefit from their actions as directors. The effect of this provision of
our 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 102(b)(7) of the DGCL. However,
this provision does not limit or eliminate our rights or the rights of any stockholder to seek non-monetary relief, such as an
injunction or rescission, in the event of a breach of a director&rsquo;s duty of care.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">If the DGCL is amended to authorize
corporate action further eliminating or limiting the liability of directors, then, in accordance with our 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 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.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Our 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, attorney&rsquo;s 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 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.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The right to indemnification conferred
by our 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 certificate of incorporation or otherwise.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The rights to indemnification and advancement
of expenses will not be deemed exclusive of any other rights which any person covered by our certificate of incorporation may have
or hereafter acquire under law, our certificate of incorporation, our bylaws, an agreement, vote of stockholders or disinterested
directors, or otherwise.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Any repeal or amendment of provisions
of our 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 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 certificate
of incorporation.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Our bylaws, which we intend to adopt
immediately prior to the closing of this offering, include the provisions relating to advancement of expenses and indemnification
rights consistent with those set forth in our 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.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">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.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We will enter into indemnity agreements
with each of our officers and directors a form of which is filed as Exhibit 10.6 to this Registration Statement. These agreements
will require us to indemnify these individuals to the fullest extent permitted under Delaware law and to advance expenses incurred
as a result of any proceeding against them as to which they could be indemnified.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to the Underwriting Agreement
filed as Exhibit 1.1 to this Registration Statement, we have agreed to indemnify the Underwriters  against certain civil liabilities that may be incurred in connection with this offering, including certain liabilities
under the Securities Act.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Item 15. Recent Sales of Unregistered Securities.</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-align: justify">On January 28, 2021, our sponsor
purchased 1,437,500 insider shares for an aggregate purchase price of $25,000, or approximately $0.017 per share. Our sponsor
expects to transfer 4,000 insider shares to the three independent directors at the closing of this offering. The per share purchase
price of the insider shares was determined by dividing the amount of cash contributed to the company by the aggregate number of
insider shares issued. The number of insider shares issued was determined based on the expectation that the insider shares would
represent 20% of the outstanding shares after this offering (not including the shares to be issued to the underwriter at closing
or the shares underlying the private placement units). As such, our&nbsp;insiders will collectively own 20% of our issued and
outstanding shares after this offering. Such shares were issued in connection with our organization pursuant to the exemption
from registration contained in Section 4(a)(2) of the Securities Act as they were sold to accredited investors.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">We have agreed to issue Chardan and/or
its designees at the close of this offering, a   discount equal to 0.5% of the amount sold in this offering in the
form of our shares at a price of $10.00 per share (25,000 shares if the over-allotment option is not exercised, and up to 28,750
if the over-allotment option is exercised in full).</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">No underwriting discounts or commissions
were paid with respect to such sales.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"><B>Item 16. Exhibits and Financial Statement Schedules.</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-align: justify">(a) The following exhibits are filed
as part of this Registration Statement:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
<TD STYLE="width: 12%; border-bottom: black 1.5pt solid; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Exhibit No.</B></FONT></TD>
<TD STYLE="width: 2%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 86%; border-bottom: black 1.5pt solid; padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Description</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.1</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="ex1_1.htm">Form of Underwriting Agreement.</A>*</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.1</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="ex3_1.htm">Certificate of Incorporation</A>.</FONT>*</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.2</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="ex3_2.htm">Form of Amended and Restated Certificate of Incorporation.</A></FONT>*</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.3</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="ex3_3.htm">Bylaws</A>.*</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">3.4</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><A HREF="ex3_4.htm">Amended and Restated Bylaws</A>.*</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.1</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="ex4_1.htm">Specimen Unit Certificate.</A>*</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.2</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="ex4_2.htm">Specimen Common Stock Certificate.</A>*</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.3</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="ex4_3.htm">Specimen Right Certificate.</A>*</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.4</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="ex4_4.htm">Form of Rights Agreement between Continental Stock Transfer &amp; Trust Company and the Registrant.</A>*</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5.1</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="ex5_1.htm">Form of Opinion of Loeb &amp; Loeb LLP.</A></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.1</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="ex10_1.htm">Form of Insider Letter Agreement among the Registrant and the Registrant&rsquo;s Officers and Directors.</A>*</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.2</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="ex10_2.htm">Form of Investment Management Trust Agreement by and between Continental Stock Transfer &amp; Trust Company and the Registrant.</A></FONT>*</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.3</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="ex10_3.htm">Form of Stock Escrow Agreement among the Registrant, Continental Stock Transfer &amp; Trust Company, and the Insiders.</A></FONT>*</TD></TR>
</TABLE>


<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE 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-right: 0.8pt; line-height: 107%; width: 12%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.4</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%; width: 2%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%; width: 86%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="ex10_4.htm">Form of Registration Rights Agreement by and between the Registrant and Insiders.</A></FONT>*</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.5</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="ex10_5.htm">Form of Indemnity Agreement.</A></FONT>*</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.6</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ex10_6.htm">Form
of Subscription Agreement between the Registrant and the insiders for Private Units.</A></FONT>*</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10.7</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="ex10_7.htm">Form of Subscription Agreement between Registrant and SPK Acquisition LLC.</A></FONT>*</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">14</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="ex14.htm">Form of Code of Ethics.</A></FONT>*</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">23.1</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="ex23_1.htm">Consent of UHY LLP</A>.</FONT>*</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">23.2</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="ex5_1.htm">Consent of Loeb &amp; Loeb LLP (included on Exhibit 5.1).</A></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">24</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Power of Attorney (included on the signature page of the original filing hereof).</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">99.1</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="ex99_1.htm">Form of Audit Committee Charter.</A>*</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">99.2</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><A HREF="ex99_2.htm">Form of Compensation Committee Charter.</A>*</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<HR ALIGN="LEFT" NOSHADE SIZE="1" STYLE="color: Black; width: 25%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD>
    <TD STYLE="width: 96%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed herewith</FONT></TD></TR>

</TABLE>
<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"><B>Item 17. Undertakings.</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT></TD>
    <TD STYLE="width: 95%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The undersigned registrant hereby undertakes:</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="width: 92%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%; text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="width: 4%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">i.</FONT></TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To include any prospectus required by Section 10(a)(3) of the Securities Act of 1933;</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ii.</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20 percent change in the maximum aggregate offering price set forth in the &ldquo;Calculation of Registration Fee&rdquo; table in the effective registration statement;</FONT></TD></TR>
</TABLE>
<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"></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/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%; text-align: justify; line-height: 107%">&nbsp;</TD>
    <TD STYLE="width: 4%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">iii.</FONT></TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 5%; text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(2)</FONT></TD>
<TD STYLE="width: 92%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment 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>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(3)</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(4)</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">That, for the purpose of determining any liability under the Securities Act of 1933 in a primary offering of securities of the 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/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="width: 4%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</FONT></TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule 424;</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant;</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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>

<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 5%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(5)</FONT></TD>
<TD STYLE="width: 92%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">That, for the purpose of determining liability under the Securities Act of 1933 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.</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 2%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(b)</FONT></TD>
<TD STYLE="width: 95%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The undersigned hereby undertakes to provide to the underwriter at the closing specified in the underwriting agreements, certificates in such denominations and registered in such names as required by the underwriter to permit prompt delivery to each purchaser.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(c)</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Insofar as indemnification for liabilities arising under the Securities Act of 1933 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 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 Act and will be governed by the final adjudication of such issue.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(d)</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The undersigned registrant hereby undertakes that:</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 5%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(1)</FONT></TD>
<TD STYLE="width: 92%; padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">For purposes of determining any liability under the Securities Act of 1933, 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.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(2)</FONT></TD>
<TD STYLE="padding-right: 0.8pt; text-align: justify; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">For the purpose of determining any liability under the Securities Act of 1933, 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/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

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<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-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">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 NEW YORK, State of NEW YORK, on the&nbsp;23rd day of April, 2021.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE 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-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.8pt; line-height: 107%">SPK ACQUISITION CORP.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="width: 7%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="width: 43%; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.8pt; line-height: 107%">/s/Sophie Ye Tao</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%">Name:</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%">Sophie Ye Tao</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%">Title:</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 107%">Chairman and Chief Executive Officer</TD></TR>
</TABLE>


<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>POWER OF ATTORNEY</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">KNOW ALL MEN BY THESE
PRESENTS, that each person whose signature appears below constitutes and appoints Sophie Ye Tao his or her true and
lawful attorney-in-fact, with full power of substitution and resubstitution for him or her and in his or her name, place and
stead, in any and all capacities to sign any and all amendments including post-effective amendments to this registration
statement, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities
and Exchange Commission, hereby ratifying and confirming all that said attorney-in-fact or his substitute, each acting alone,
may lawfully do or cause to be done by virtue thereof.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to the requirements of the
Securities Act of 1933, this Registration Statement has been signed below by the following persons in the capacities and on the
dates indicated.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
<TD STYLE="width: 36%; border-bottom: Black 1pt solid; padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Signature</B></FONT></TD>
<TD STYLE="width: 1%; padding-right: 0.8pt; line-height: 107%; padding-bottom: 1pt">&nbsp;</TD>
<TD STYLE="width: 31%; border-bottom: Black 1pt solid; padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Title</B></FONT></TD>
<TD STYLE="width: 1%; padding-right: 0.8pt; line-height: 107%; padding-bottom: 1pt">&nbsp;</TD>
<TD STYLE="width: 31%; border-bottom: Black 1pt solid; padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Date</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 0.8pt; line-height: 107%">/s/Sophie Ye Tao</TD>
<TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="vertical-align: top; padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Chief Executive Officer (Principal executive officer) and Chairwoman</FONT></TD>
<TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="vertical-align: top; padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">April
23, 2021</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Sophie Ye Tao</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR>
<TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; padding-right: 0.8pt; line-height: 107%">/s/ Philip Chun-Hun
Kwan</TD>
<TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="vertical-align: top; padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Chief Financial Officer (Principal financial and accounting officer) and Director</FONT></TD>
<TD STYLE="vertical-align: top; padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="vertical-align: top; padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">April
23, 2021</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Philip Chun-Hun Kwan</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.8pt; line-height: 107%">/s/ Greg Chang</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Director</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">April
23, 2021</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Greg Chang</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.8pt; line-height: 107%">/s/ Bryant Chou</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Director</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">April
23, 2021</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Bryant Chou </FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.8pt; line-height: 107%">/s/Justin Chang</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Director</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; text-align: center; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">April
23, 2021</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
<TD STYLE="padding-right: 0.8pt; line-height: 107%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Justin Chang</FONT></TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD>
<TD STYLE="padding-right: 0.8pt; line-height: 107%">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">II-7<B>&nbsp;</B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

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[{"type": "S-1", "sequence": "1", "filename": "spk_s1.htm", "description": "FORM S-1", "secsgml_size_bytes": 1126720}]
{"company-data": {"conformed-name": "SPK Acquisition Corp.", "cik": "0001848097", "assigned-sic": "6770", "irs-number": "000000000", "state-of-incorporation": "DE"}, "filing-values": {"form-type": "S-1", "act": "33", "file-number": "333-255461", "film-number": "21848069"}, "business-address": {"street1": "ROOM 368, 302 BUWEI", "street2": "211 FUTE NORTH ROAD,", "city": "SHANGHAI", "state": "F4", "zip": "200131", "phone": "86 13439129879"}, "mail-address": {"street1": "ROOM 368, 302 BUWEI", "street2": "211 FUTE NORTH ROAD,", "city": "SHANGHAI", "state": "F4", "zip": "200131"}}
As filed with the Securities and
Exchange Commission on April 23, 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
SPK Acquisition Corp.
Delaware
6770
86-1373795
(State
or other jurisdiction of
incorporation or organization)
(Primary
Standard Industrial
Classification Code Number)
(I.R.S.
Employer
Identification Number)
Room 368, 302 Buwei
211 Fute North Road,
China (Shanghai) Pilot Free Trade
Zone, 200131
+86 13439129879
(Address, including zip code, and telephone
number, including area code, of registrant's principal executive
offices)
Cogency Global lnc.
122 East 42
nd
Street,
18
th
Floor
New York, NY 10168
+1 800-221-0102
(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 Avenue
New York, New York 10154
(212) 407-4000
(212) 407-4990 — Facsimile
Alexandria
Kane
White and Williams LLP
7 Times Square
Suite 2900
New York, New York 10036
(212) 244-9500
(212) 868-4844
— Facsimile
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, or a smaller reporting 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 Class of Security being registered
Amount to be
Registered
Proposed
maximum
offering price
per share
Proposed
Maximum
Aggregate
Offering
Price
(1)
Amount of
Registration Fee
Units, each consisting of one share of Common Stock, $0.0001 par value and one Right to acquire 1/10 of one share of Common Stock
(2)
5,750,000
$
10.00
$
57,500,000.00
$
6,273.25
Shares of Common Stock, $0.0001 par value, included as part of the Units
(2)(3)
5,750,000
—
—
—
(4)
Rights included as part of the Units
(2)(3)
5,750,000
—
—
—
(4)
Shares of Common Stock underlying the Rights included as part of Units
(2)
575,000
$
10.00
$
5,750,000.00
$
627.33
Representative's shares of Common Stock
28,750
$
10.00
$
287,500.00
$
31.37
Total
$
63,537,500.00
$
6,931.94
(1)
Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(o) under the Securities Act.
(2)
Includes
    Units, shares of Common Stock and Rights underlying such Units, and shares of Common Stock underlying the Rights included in
    such Units which may be issued on exercise of a 45-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 share splits, share capitalizations 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 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
preliminary 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 is not soliciting
an offer to buy these securities in any state where the offer or sale is not permitted.
PRELIMINARY PROSPECTUS
SUBJECT
    TO COMPLETION, DATED APRIL 23, 2021
$50,000,000
SPK Acquisition Corp.
5,000,000 Units
SPK Acquisition Corp. is a blank check
company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar
business combination with one or more businesses. Our efforts to identify a prospective target business will not be limited to
a particular industry or geographic region, although the Company intends to focus on businesses in Asia operating in the telecommunications,
media, and technology ("TMT") sectors.
This is an initial public offering of
our securities. Each unit that we are offering has a price of $10.00 and consists of one share of common stock and one right to
receive one-tenth (1/10) of a share of common stock upon the consummation of an initial business combination, as described in more
detail in this prospectus.
We have granted Chardan Capital Markets,
LLC ("Chardan"), the representative of the underwriters, a 45-day option to purchase up to 750,000 units (over and above
the 5,000,000 units referred to above) solely to cover over-allotments, if any.
Our sponsor, SPK Acquisition LLC (which
is controlled by Philip Chun-Hun Kwan) has committed to purchase from us an aggregate of 205,000 units, or "private units,"
at $10.00 per private unit (for a total purchase price of $2,050,000). These purchases will take place on a private placement basis
simultaneously with the consummation of this offering. All of the proceeds we receive from these purchases will be placed in the
trust account described below. Our sponsor has also agreed that if the over-allotment option is exercised by the underwriters,
they will purchase from us at a price of $10.00 per private unit an additional number of private units (up to a maximum of 15,000
private units)
pro rata
with the amount of the over-allotment option exercised so that at least $10.00 per share sold to
the public in this offering is held in trust regardless of whether the over-allotment option is exercised in full or part. These
additional private units will be purchased in a private placement that will occur simultaneously with the purchase of units resulting
from the exercise of the over-allotment option.
There is presently no public market
for our units, shares of common stock or rights. We have applied to have our units listed on the Nasdaq Capital Market, or Nasdaq,
under the symbol "SPKU". We cannot guarantee that our securities will be approved for listing on Nasdaq. The
common stock and rights comprising the units will begin separate trading on the 90
th
day following the date of this
prospectus unless Chardan informs us of its decision to allow separate earlier trading, subject to our filing a Report on Form
8-K with the Securities and Exchange Commission 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. Once the securities comprising
the units begin separate trading as described in this prospectus, the common stock and rights will be traded on Nasdaq under the
symbols "SPK," and "SPKR," respectively. We cannot assure you that our securities will continue
to be listed on Nasdaq after this offering.
We qualify as an "emerging growth
company" as defined in the Jumpstart Our Business Startups Act of 2012, and therefore will be subject to reduced reporting
requirements.
Investing in our securities involves
a high degree of risk. See "Risk Factors" beginning on page 23 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.
Neither the U.S. Securities and
Exchange Commission 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.
Price to Public
Underwriting
Discounts and
Commissions
Proceeds,
Before
Expenses,
to us
Per Unit
$
10.00
$
0.50
(1)
$
9.50
Total
$
50,000,000
$
2,500,000
$
47,500,000
(1)
Includes
    $1,500,000, or $0.30 per unit, equal to 3.0% of the gross proceeds of this offering (or $1,725,000 if the underwriters'
    over-allotment option is exercised in full) payable to the underwriters as deferred underwriting discounts and commissions
    at the closing of our initial business combination from the funds to be placed in the trust account described below. Such
    funds will be released to the underwriters only upon consummation of an initial business combination, as described in this
    prospectus. If the business combination is not consummated, such deferred discount will be forfeited by the underwriters.
    The underwriters will not be entitled to any interest accrued on the deferred underwriting discount. The underwriter will
    also be entitled to 0.5% of the gross proceeds of this offering in the form of our shares at a price of $10.00 per share,
    to be issued when we close this offering.
Upon consummation of the offering,
$10.00 per unit sold to the public in this offering (whether or not the underwriters' over-allotment option has been exercised
in full or part) will be deposited into a United States-based trust account at JP Morgan Chase, maintained by Continental Stock
Transfer & Trust Company, acting as trustee. Such amount includes $1,500,000, or $0.30 per unit, (or $1,725,000 if the underwriters'
over-allotment option is exercised in full) payable to the underwriters as deferred underwriting discounts and commissions. Except
as described in this prospectus, these funds will not be released until the earlier of the completion of our initial business
combination and our redemption of the shares of common stock sold in this offering upon our failure to consummate a business combination
within the required period.
The underwriters are offering the units
on a firm commitment basis. Chardan Capital Markets, LLC, acting as the sole book-running manager and representative of the underwriters,
expects to deliver the units to purchasers on or about [●], 2021.
Sole Book-Running Manager
Chardan
The date of this prospectus is [●],
2021
TABLE OF CONTENTS
PAGE
PROSPECTUS SUMMARY
1
SUMMARY FINANCIAL DATA
20
RISK FACTORS
21
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
46
USE OF PROCEEDS
47
DIVIDEND POLICY
49
DILUTION
50
CAPITALIZATION
52
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
53
PROPOSED BUSINESS
57
MANAGEMENT
74
PRINCIPAL STOCKHOLDERS
81
CERTAIN TRANSACTIONS
82
DESCRIPTION OF SECURITIES
85
SHARES ELIGIBLE FOR FUTURE SALE
88
UNDERWRITING
89
LEGAL MATTERS
92
EXPERTS
93
WHERE YOU CAN FIND ADDITIONAL INFORMATION
93
INDEX TO FINANCIAL STATEMENTS
F-1
i
PROSPECTUS 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:
●
"we,"
"us," "our company" or "the company" refer to SPK Acquisition Corp.;
●
"insider
shares" refer to the 1,437,500 shares of common stock held or controlled by our insiders (as defined below) prior to this
offering, which include up to an aggregate of 187,500 shares of common stock subject to forfeiture by our insiders to the extent
that the underwriters' over-allotment option is not exercised in full or in part;
●
"private
units" refer to the 205,000 units (up to a maximum of 220,000 units if over-allotment option is exercised in full) we are
selling privately to SPK Acquisition LLC, our sponsor, upon consummation of this offering;
●
our
"management" or our "management team" refer to our officers and directors;
●
our
"public shares" refer to shares of common stock which are being sold as part of the units in this offering (whether
they are purchased in this offering or thereafter in the open market) and references to "public stockholders" refer
to the holders of our public shares, including our insiders to the extent our insiders purchase public shares, provided that their
status as "public stockholders" shall exist only with respect to such public shares;
●
our
"rights" or "public rights" refer to the rights which are being sold as part of the units in this offering;
●
our
"insiders" refer to our officers, directors, sponsor and any other holder of our insider shares;
●
our
"sponsor" refers to SPK Acquisition LLC, the managing member of which is Philip Chun-Hun Kwan, our Chief Financial
Officer; and
●
"representative
shares" refers to the 25,000 ordinary shares (28,750 if the over-allotment option is exercised in full) issued as compensation
to the representative and/or its designees.
Except as specifically provided
otherwise, the information in this prospectus assumes that the underwriters will not exercise their over-allotment option.
We are responsible for the information
contained in this prospectus. We have not, and the underwriters have not, authorized anyone to provide you with different information,
and we take no responsibility for any other information others may give to you. 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.
General
We are a blank check company formed
under the laws of the State of Delaware on December 31, 2020. 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. Our efforts to identify a prospective target business will not
be limited to a particular industry or geographic region, although the Company intends to focus on operating businesses in Asia
focused on the telecommunications, media, and technology ("TMT") sectors. We do not have any specific business combination
under consideration and we have not (nor has anyone on our behalf), directly or indirectly, contacted any prospective target business
or had any substantive discussions, formal or otherwise, with respect to such a transaction. 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.
1
Background and Competitive Advantage
We will seek to leverage our
management team's proprietary network of relationships with corporate executives, private equity, venture and growth capital
funds, investment banking firms, consultants, family offices, and large corporations in order to source, acquire, and support
the operations of the business combination target. Our management team has extensive experience investing in and operating businesses
within the TMT sector in Asia and North America, and we believe that this combination of relationships and expertise will make
us a preferred partner for and allow us to source high-quality combination targets.
We believe that our management
team brings a unique background and skillset that will be attractive to leading Asia based companies, and will be able to leverage
the following competitive strengths in identifying, structuring, and consummating a business combination:
●
Extensive
network within the Asia TMT sector.
We have longstanding relationships with top TMT executives, investors, entrepreneurs,
and investment banks in the Asia region, which will provide us with access to proprietary investment opportunities and strong
deal flow in our target sectors.
●
U.S.
capital markets expertise.
Our management team and board possess significant U.S. capital markets experience as investors,
investment bankers, and purchasers and sellers of both private and public companies.
●
Cross-border
deal experience between the U.S. and Asia.
Our management team has significant experience completing large-scale domestic
and cross-border transactions, involving acquirers and targets located across the U.S. and Asia.
●
TMT-specific
industry knowledge and operator experience.
Our management team has operated, invested in, and advised leading TMT companies
in Asia and the U.S., and are regarded as industry experts within our target sector of TMT.
Our Board of Directors and Management
Our management team is led by
our Chief Executive Officer, Sophie Ye Tao, our Chief Financial Officer, Philip Chun-Hun Kwan, and three independent directors
who collectively have decades of experience in investing, building and operating businesses focused on the TMT sector in both
Asia and North America. Furthermore, our management team has experience in the U.S. capital markets and understands what investors
look for in a public company. We believe that our team has a strong and complementary set of skills which will allow us to identify
a target, execute a business combination, and maximize value to stockholders.
Sophie Ye Tao, our President
and Chief Executive Officer, has been an active investor in China and the US since 2007. Throughout her investment career, she
has invested in companies including Evernote, 360 DigiTech, Inc. (NASDAQ: QFIN), a leading fintech platform in China, Tricorn
Technology, a leading China-based AI company focused on natural language processing which was later acquired by Tencent in
2020, Shanghai Canxing Culture & Broadcast Company, the largest unscripted content producer in China and Ningmeng Pictures,
a leading Chinese studio focused on television and film production. From 2016 to 2021, Ms. Tao was a partner at Hanfor Capital
Management, a China-based private equity firm and focused on investments in the TMT and consumer industries. She was a co-founder
and partner at Ray Shi Capital Group from 2010 to 2015, a US registered investment adviser focusing on equity investments in Chinese
companies listed in Hong Kong and the U.S. Ms. Tao was the senior investment manager for Greater China at Vision Capital Advisors
in New York City from 2007 to 2010. At Vision, Ms. Tao helped launch and co-managed the Vision Opportunity China Fund, focusing
on sourcing, structuring and investing in small- and medium-sized enterprises in China through reverse mergers, private placements
and private equity. Previously, Ms. Tao worked at Banc of America Securities LLC in New York City in its equity capital markets
group between 2005 and 2007, where she originated and executed convertible bond and other equity–linked issuances. She also
worked at NERA Economic Consulting in its Chicago and New York City offices between 2003 and 2005 where she helped provide economics
and econometrics analysis and recommendations to multi-national corporations involved in antitrust and securities litigations.
Before that, Ms. Tao worked as a policy consultant at the Organization for Economic Cooperation and Development (OECD) in Paris
from 2001 to 2002, where she advised countries on their economic and regulatory reform policies. Ms. Tao graduated from the Woodrow
Wilson School of Public and International Affairs at Princeton University in 2003 with a Master of Public Affairs (MPA) degree
concentrating in economics and advanced quantitative analysis. She also graduated from the University of International Business
& Economics in Beijing with a Bachelor of Laws degree in 2000.
2
Mr. Philip Chun-Hun Kwan, our Chief Financial Officer and a member of our board of directors, has spent his career in the TMT industry, as an investor,
advisor and operator since 2004. Mr. Kwan is currently the CEO of Palestra Sports, a sports-focused start-up based in China which
he co-founded in June 2017. From 2010 to 2017, Mr. Kwan was a senior vice president at The Raine Group ("Raine"),
where he was a founding member of the firm's China practice based in Beijing and subsequently Shanghai. Raine is one of
the world's leading TMT-focused merchant banks, with total assets under management of over $3.5 billion. At Raine, Mr. Kwan
provided investment banking advisory services to leading Chinese and international media and entertainment companies (primarily
mergers and acquisitions and large-scale capital raise transactions), and also worked on the fund side where he helped source
and execute direct principal investments in China. Representative transactions during his time at Raine include the $4.2 billion
sale of the Ultimate Fighting Championship to WME IMG, the sale of 13% of Manchester City Football Group to CMC Capital and CITIC
for $400 million, Perfect World's $250 million investment into Universal Studios' film slate, the creation of Flagship
Entertainment, the Chinese film studio co-financed by Warner Bros and CMC Capital, the sale of PPTV to Suning for $420 million,
and the spin-off of and $80 million capital raise for IMAX China, among others. In the Singapore region, Mr. Kwan also
represented Wego in its Series A capital raise. Prior to joining Raine, Mr. Kwan worked at Southfield Capital, a middle market
private equity firm backed by Canyon Capital Advisors focused on North American buyouts. During his time at Southfield, he executed
a number of leveraged buyout transactions across a range of different industries. Mr. Kwan started his professional career in
the mergers and acquisitions advisory group at Evercore Partners in New York. He graduated from The Wharton School at the University
of Pennsylvania with a Bachelor of Science in Economics in 2004. Mr. Kwan is currently married to Ms. Tao.
Mr. Justin Chang serves as an
independent director, and brings us his more than 15 years of technology, product development, and entrepreneurial
experience. Currently, Mr. Chang is the vice president of product at ClassPass, a marketplace aggregator of local fitness, wellness,
and beauty merchants. ClassPass provides customers with a flexible membership that gives them access to 40,000 boutique studios,
gyms, and wellness facilities across 28 countries. He joined ClassPass in 2014 after its seed financing, helping scale the company
from one city to 2,500 cities by leading the engineering, product management, product design, user research, and product
operations teams. In 2019, Mr. Chang helped launch ClassPass China, a localized version of the ClassPass experience. Mr.
Chang also sits on the ClassPass executive team where he oversees global product strategy and product development. Outside
ClassPass, Mr. Chang regularly advises early stage founders and executives on strategy, growth, and product. From 2011 to
2014, Mr. Chang worked at AHAlife, a luxury e-commerce marketplace, where he led the product development of its merchant
portal and augmented reality shopping experiences. Prior to AHAlife, Mr. Chang co-founded MatchBright in 2006, a career discovery
platform that leveraged big data to help job seekers discover best fit careers, and operated its business until 2010. Mr. Chang
began his career as a consultant for Bain & Company where he advised Fortune 500 companies in consumer products, retail, TMT,
banking, and healthcare industries from 2004 to 2006. Mr. Chang graduated magna cum laude from The Wharton School
at the University of Pennsylvania in 2004 with degrees in Finance and Management.
Mr. Bryant Chou serves as an
independent director, and brings us his experience in corporate finance and the TMT industry across the US, Asia and
Europe. Since 2012, Mr. Chou has been the CEO of Yi Shi Yi Se (Beijing) Culture Communication Co., Ltd. and its predecessor
company, VICE China, where Mr. Chou oversees the launch and expansion of the local entity, leads commercial activities
and serves as the main liaison for key business partners domestically and across the APAC region. Prior to this, Mr. Chou worked
at DMG Entertainment, a Chinese advertising and entertainment agency from 2011 to 2012. From 2007 to 2008, he was a consultant
at JL McGregor, a boutique equity research firm. Mr. Chou began his career in investment banking in New York at Miller
Buckfire from 2003 to 2006, a leading boutique restructuring firm.  Mr. Chou graduated from The Wharton School at
the University of Pennsylvania in December 2002, receiving a Bachelor of Science in Economics with concentrations in Finance and
Management.
Mr. Greg Chang serves as an independent
director, and brings his more than 15 years of experience in technology, gaming, business development, marketing, and entrepreneurship.
Since 2020, Mr. Chang has been the general manager of RealTime Technology, a SAAS company servicing the telecom, retail,
and gaming industries. He is also an investor in multiple startups and a mentor at SOSV, one of the most active VCs in the Asia
region. From 2015 until 2019, Mr. Chang was the director of games and mobile, Greater China, at The Walt Disney Company where
he was responsible for popular titles such as Marvel Future Fight, Star Wars Commander, and Disney TsumTsum. He also developed
several multi-million dollar licensing deals with some of the top technology companies in China. From 2013 to 2015, he
was the vice president of Asia at Glu Mobile where he initiated Glu's $100M+ strategic partnership and investment with Tencent
and helped launch several popular games including Deer Hunter, Eternity Warriors, and Kim Kardashian: Hollywood in the
region. Prior to that, Mr. Chang was the director of business at NCSoft Taiwan from 2011 to 2012 and vice president at The Ivy
Group (a Temasek portfolio company) from 2009 to 2011. Mr. Chang graduated from the University of California, Berkeley with
a Bachelor of Arts in 2001 and also received an MBA from Columbia Business School in 2009.
3
Our Business Strategy and Acquisition
Criteria
We intend to focus our efforts
on potential acquisition targets that exhibit compelling long term growth potential and highly defensible market positions. We
believe that our management team's extensive relationships with corporate executives, investors, and entrepreneurs will provide
us with a strong pipeline of potential acquisition opportunities in our target sectors. Our long experience operating and investing
in these sectors in Asia are key differentiators for us compared to other blank check companies, the majority of which we believe
are seeking business combinations exclusively in the U.S. We believe this will allow us to source and execute a business combination
with an attractive target company more quickly, efficiently, and under better terms than our competitors.
We believe that targeting companies
in Asia is compelling because there is a significant pool of high-quality private companies that could benefit from going public
in the United States. According to CB Insights, there are more than 97 "unicorns" – private companies valued
at $1 billion or more – operating within the TMT sectors in Asia. Relative to U.S. based targets, there have also been comparatively
few business combinations between U.S. listed blank check companies and targets located in Asia. According to FactSet, of 150
SPAC business combinations closed from 2017 through February 2021 only 12 (or 8%) of the total involved Asia-based target companies.
Comparatively speaking, during the same period there were 836 traditional IPOs in U.S. markets of which 125 (or 15%) involved
Asia-based issuers. Given the high level of business formation and development in Asia, and the number of high-quality
emerging companies seeking access to the U.S. capital markets in our network, we believe that we will be able to engage
with many leading Asia-based companies interested in a business combination.
We have identified the following
general criteria and guidelines as we evaluate prospective target companies.
●
Operating within
the TMT sectors.
We intend to seek targets with an enterprise value of approximately $250 million to $1 billion. We will prioritize
targets that are already benefiting from or capitalizing on tailwinds found within their respective TMT sub-sectors.
●
Strong management
team.
The strength of the management team will be an important component in our review process. We will seek to partner with
a management team that is operationally strong and has demonstrated the ability to scale, but is also well-incentivized and aligned
in our future vision for creating long term shareholder value.
●
Strong and defensible
market position.
We intend to favor targets that have a strong competitive advantage or are advanced in their penetration
of new and emerging markets. We will target companies that have strong intellectual property, technology, or brand equity within
their respective sectors and that can be further monetized on a global basis.
●
Asia-focused but
operating on a global basis.
We will seek targets that have already established a strong operating history within Asia, but
which possess a competitive edge to expand into new geographic regions where similar needs exist.
●
At a growth inflection
point.
We intend to seek targets that may benefit from capital infusions that will be used to fund higher growth through expansion
into new markets and product offerings.
●
Operating in sectors
that are underpenetrated by dominant global players.
We will seek targets that are operating in new and emerging sectors that
are not yet dominated by large global players. Ideally, these sectors will also benefit from strong secular tailwinds that will
provide a long runway for industry growth and profitability into the foreseeable future.
●
Benefit from being
a public company.
We intend to seek targets that may lack experience with the capital markets but that possess the aspiration
to take advantage of improved access to capital that comes from a listing in the U.S. This improved access to capital could allow
the targets to accelerate  growth, pursue new projects, retain and hire employees, and expand into new geographies
or businesses. Ultimately, this combination of enhanced liquidity and access to capital markets will enable our target to accelerate
its growth and increase its resulting value.
While we intend to use these
criteria in evaluating the attractiveness of potential business combination opportunities, we may ultimately decide to enter into
an initial business combination with a target business that does not meet these criteria. In the event that we decide to enter
into our initial business combination with a target business that does not meet the above criteria and guidelines, we will disclose
that the target business does not meet the above criteria and guidelines in our stockholder communications related
to our initial business combination, which, as discussed in this prospectus, would be in the form of tender offer documents or
proxy solicitation materials that we would file with the SEC.
4
In evaluating a prospective target
business, we expect to conduct a thorough due diligence review that will encompass, among other things, meetings with incumbent
management and employees, document reviews, interviews of customers and suppliers, inspection of facilities, as well as reviewing
financial and other information which will be made available to us. We will also utilize our operational and capital allocation
experience. Our acquisition criteria, due diligence processes and value creation methods 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.
Because of regulations in
mainland China restricting foreign ownership of businesses in certain industries, we may make use of structures like the ones
described in the section below entitled "Alternative structures to comply with regulations in certain Chinese industries"
on page 62.
Initial Business Combination
We will have until 9 months from
the closing of this offering (or 15 months from the closing of this offering if we have filed a proxy statement, registration
statement or similar filing for an initial business combination within 9 months from the closing of this offering but have not
completed the initial business combination within such 9-month period) to consummate our initial business combination. In addition,
if we anticipate that we may not be able to consummate our initial business combination within 9 months and we have not filed
a proxy statement, registration statement or similar filing for an initial business combination by such date, our insiders or
their affiliates may, but are not obligated to, extend the period of time to consummate a business combination two times by an
additional three months each time (for a total of up to 15 months to complete a business combination), provided that, 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, the only way to extend the time available for
us to consummate our initial business combination in the absence of a proxy statement, registration statement or similar filing
is for our insiders or their affiliates or designees, upon five days' advance notice prior to the applicable deadline, to
deposit into the trust account $500,000, or $575,000 if the over-allotment option is exercised in full ($0.10 per share in either
case, or an aggregate of $1,000,000 (or $1,150,000 if the over-allotment option is exercised in full)), on or prior to the date
of the applicable deadline. In the event that they elected to extend the time to complete a business combination and deposited
the applicable amount of money into trust, the insiders would receive a non-interest bearing, unsecured promissory note equal
to the amount of any such deposit that will not be repaid in the event that we are unable to close a business combination unless
there are funds available outside the trust account to do so. Such notes would either be paid upon consummation of our initial
business combination, or, at the relevant insider's discretion, converted upon consummation of our business combination
into additional private units at a price of $10.00 per unit. Our stockholders have approved the issuance of the private
units upon conversion of such notes, to the extent the holder wishes to so convert such notes at the time of the consummation
of our initial business combination. In the event that we receive notice from our insiders five days prior to the applicable deadline
of their intent 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 insiders 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. To the extent that some, but not all, of our insiders,
decide to extend the period of time to consummate our initial business combination, such insiders (or their affiliates or designees)
may deposit the entire amount required. If we are unable to consummate our initial business combination within such time period,
we will, as promptly as possible but not more than ten business days thereafter, redeem 100% of our outstanding public shares
for a pro rata portion of the funds held in the trust account, including a pro rata portion of any interest earned on the funds
held in the trust account and not previously released to us to pay our taxes, and then seek to dissolve and liquidate. However,
we may not be able to distribute such amounts as a result of claims of creditors which may take priority over the claims of our
public stockholders. In the event of our dissolution and liquidation, the private units will expire and will be worthless.
We will either (1) seek stockholder
approval of our initial business combination at a meeting called for such purpose, at which stockholders may seek to convert 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 (net of taxes payable), or (2) provide our stockholders with the opportunity to sell
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 (net of taxes payable), in each case subject to the
limitations described herein. The decision as to whether we will seek stockholder approval of our proposed business combination
or 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. Any tender offer documents used in connection with a business combination will contain substantially
the same financial and other information about the initial business combination as is required under the SEC's proxy rules.
5
The initial per public share redemption
or conversion price will be $10.00 per share, regardless of whether the over-allotment option is exercised. However, we may not
be able to distribute such amounts as a result of claims of creditors which may take priority over the claims of our public stockholders.
Pursuant to the rules of the Nasdaq
Stock Market, our initial business combination must occur with one or more target businesses having an aggregate fair market value
of at least 80% of the value of the trust account (excluding any deferred underwriter's fees and taxes payable on the income earned
on the trust account), which we refer to as the 80% test, at the time of the agreement to enter into the initial business combination.
Therefore, the fair market value of the target business will be calculated prior to any conversions of our shares in connection
with a business combination and therefore will be a minimum of $38,800,000 (or $44,620,000 if the over-allotment option is exercised
in full) in order to satisfy the 80% test. While the fair market value of the target business must satisfy the 80% test, the consideration
we pay the owners of the target business may be a combination of cash (whether cash from the trust account or cash from a debt
or equity financing transaction that closes concurrently with the business combination) or our equity securities. The exact nature
and amount of consideration would be determined based on negotiations with the target business, although we will attempt to primarily
use our equity as transaction consideration. 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 with respect to the satisfaction
of such criteria. We will also obtain a fairness opinion from an independent investment banking firm before consummating a business
combination with an entity affiliated with any of our officers, directors or insiders. If we are no longer listed on Nasdaq, we
will not be required to satisfy the 80% test.
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 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, but we will only complete such business
combination if the post-transaction company owns 50% or more of the outstanding voting securities of the target or otherwise owns
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, or the Investment Company Act. 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-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% test.
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 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. All of our officers, directors and director nominees currently have certain relevant pre-existing fiduciary
duties or contractual obligations.
We are an "emerging growth
company," as defined in Section 2(a) of 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 until we are no longer an "emerging
growth company."
6
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 $1.0 billion in non-convertible debt during
the prior three-year period. References herein to "emerging growth company" shall have the meaning associated with it
in the JOBS Act.
Private Placements
On January 28, 2021, our sponsor,
SPK Acquisition LLC, purchased 1,437,500 insider shares for an aggregate purchase price of $25,000, or approximately $0.017 per
share. Our sponsor expects to transfer 4,000 insider shares to the three independent directors at the closing of this offering.
The per share purchase price of the insider shares was determined by dividing the amount of cash contributed to the company by
the aggregate number of insider shares issued. The number of insider shares issued was determined based on the expectation that
the insider shares would represent 20% of the outstanding shares after this offering (not including the shares to be issued to
the underwriter at closing or the shares underlying the private placement units). As such, our insiders will collectively
own 20% of our issued and outstanding shares after this offering. The 1,437,500 insider shares held or controlled by our insiders
include an aggregate of up to 187,500 shares subject to forfeiture to the extent that the underwriters' over-allotment option
is not exercised in full or in part, so that our insiders will collectively own or control 20.0% of our issued and outstanding
shares after this offering.
The insider shares are identical
to the shares of common stock included in the units being sold in this offering. However, our insiders have agreed (A) to vote
their insider shares, private shares and any public shares acquired in or after this offering in favor of any proposed business
combination, (B) not to propose, or vote in favor of, an amendment to our certificate of incorporation that would affect the substance
or timing of our obligation to redeem 100% of our public shares if we do not complete our initial business combination within 9
months from the closing of this offering (or 12 or 15 months, as applicable) 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, net of taxes payable, divided by the number of then outstanding public
shares, (C) not to convert any shares (including the insider shares) into the right to receive cash from the trust account in connection
with a stockholder vote to approve our proposed initial business combination (or sell any shares they hold to us in a tender offer
in connection with a proposed initial business combination) or a vote to amend the provisions of our certificate of incorporation
relating to the substance or timing of our obligation to redeem 100% of our public shares if we do not complete our initial business
combination within 9 months from the closing of this offering (or 12 or 15 months, as applicable), and (D) that the insider shares
shall not be entitled to be redeemed for a pro rata portion of the funds held in the trust account if a business combination is
not consummated.
On the date of this prospectus,
the insider shares will be placed into an escrow account maintained in New York, New York by Continental Stock Transfer &
Trust Company, acting as escrow agent. Subject to certain limited exceptions, 50% of these shares will not be transferred, assigned,
sold or released from escrow until the earlier of six months after the date of the consummation of our initial business combination
and the date on which the closing price of our common stock equals or exceeds $12.50 per share (as adjusted for stock splits, stock
dividends, reorganizations and recapitalizations) for any 20 trading days within any 30-trading day period commencing after our
initial business combination and the remaining 50% of the insider shares will not be transferred, assigned, sold or released from
escrow until six months after the date of the consummation of our initial business combination, or earlier, in either case, if,
subsequent to our initial business combination, we complete a liquidation, merger, stock exchange or other similar transaction
which results in all of our stockholders having the right to exchange their shares of common stock for cash, securities or other
property. The limited exceptions referred to above include (1) transfers among the insiders, to our officers, directors, advisors
and employees, (2) transfers to an insider's affiliates or its members upon its liquidation, (3) transfers to relatives and trusts
for estate planning purposes, (4) transfers by virtue of the laws of descent and distribution upon death, (5) transfers pursuant
to a qualified domestic relations order, (6) private sales made at prices no greater than the price at which the securities were
originally purchased or (7) transfers to us for cancellation in connection with the consummation of an initial business combination,
in each case (except for clause 7) where the transferee agrees to the terms of the escrow agreement and forfeiture, as the case
may be, as well as the other applicable restrictions and agreements of the holders of the insider shares.
SPK Acquisition LLC has committed
to purchase from us an aggregate of 205,000 units, or "private units," at $10.00 per private unit. These purchases will
take place on a private placement basis simultaneously with the consummation of this offering. All of the proceeds we receive from
this purchase will be placed in the trust account described below. SPK Acquisition LLC has also agreed that if the over-allotment
option is exercised by the underwriters, it will purchase from us up to a maximum of an additional 15,000 private units at a price
of $10.00 per private unit, so that at least $10.00 per share sold to the public in this offering is held in trust regardless of
whether the over-allotment option is exercised in full or part. These additional private units will be purchased in a private placement
that will occur simultaneously with the purchase of units resulting from the exercise of the over-allotment option. The proceeds
from the private placement of the private units will be added to the proceeds of this offering and placed in the same trust account
described in this prospectus maintained by Continental Stock Transfer & Trust Company, as trustee.
7
The private units are identical
to the units sold as part of the public units in this offering. However, our insiders have agreed (A) to vote
their insider shares, private shares and any public shares purchased in or after this offering in favor of any proposed business
combination, (B) not to propose, or vote in favor of, prior to and unrelated to an initial business combination, an amendment
to our certificate of incorporation that would affect the substance or timing of the ability of public stockholders to exercise
redemption rights as described herein or of our redemption obligation to redeem all public shares if we cannot complete an initial
business combination within 9 months of the closing of this offering (or 12 or 15 months, as applicable), unless we provide public
stockholders an opportunity to redeem their public shares in conjunction with any such amendment, (C) not to redeem any shares,
including insider shares, private shares and any public shares purchased in or after this offering into the right to receive cash
from the trust account in connection with a stockholder vote to approve our proposed initial business combination or sell any
shares to us in any tender offer in connection with our proposed initial business combination, and (D) that the insider shares
and private shares shall not participate in any liquidating distribution upon winding up if a business combination is not consummated.
If public units or shares are
purchased by any of our directors, officers or initial  stockholders, they will be entitled to funds from the trust
account to the same extent as any public stockholders upon our liquidation but will not have redemption rights related
thereto.
Our executive offices are located
at Room 368, 302 Buwei, 211 Fute North Road, China (Shanghai) Pilot Free Trade Zone, 200131, and our telephone number is (86) 13439129879.
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"
beginning on page 21 of this prospectus.
Securities offered
5,000,000 Units, at $10.00 per unit, each unit consisting of one share of common stock and one right entitling the holder thereof to receive one- tenth (1/10) of a share of common stock upon consummation of our initial business combination, subject to adjustment as described in this prospectus.
Proposed Nasdaq symbols
We
anticipate the units, and the shares of common stock
and rights once they begin separate trading, will be listed on
Nasdaq under the symbols "SPKU", "SPK", and "SPKR" respectively.
Trading commencement and
separate trading of common
stock
and rights
The units will begin trading on or promptly after the date of this prospectus. Each of the common stock
and rights may trade separately on the 90
th
day after the date of this prospectus unless Chardan Capital Markets, LLC determines that an earlier date is acceptable (based upon, among other things, its assessment of the relative strengths of the securities markets and small capitalization companies in general, and the trading pattern of, and demand for, our securities in particular). In no event will Chardan Capital Markets, LLC allow separate trading of the common stock
and rights until we file an audited balance sheet reflecting our receipt of the gross proceeds at the closing of this offering. Once the shares of common stock
and rights commence separate trading, holders will have the option to continue to hold units or separate their units into the component pieces. Holders will need to have their brokers contact our transfer agent in order to separate the units into shares of common stock
and rights. We will file a Current Report on Form 8-K with the U.S. Securities and Exchange Commission, or the SEC, including an audited balance sheet, promptly following the closing of this offering, which is anticipated to take place three business days from the date the units commence trading. The audited balance sheet will reflect our receipt of the proceeds from the exercise of the over-allotment option if the over-allotment option is exercised on the date of this prospectus. If the over-allotment option is exercised after the date of this prospectus, we will file an amendment to the Form 8-K or a new Form 8-K to provide updated financial information to reflect the exercise of the over-allotment option. We will also include in the Form 8-K, or amendment thereto, or in a subsequent Form 8-K, information indicating if Chardan Capital Markets, LLC has allowed separate trading of the common stock
and rights prior to the 90
th
day after the date of this prospectus.
Units:
Number outstanding before this offering
0 units
Number to be outstanding after
this offering and sale of
private units
5,205,000 units
1
Shares of common stock:
Number outstanding before this
offering
1,437,500 shares
2
Number to be outstanding after
this offering and sale of
private units
6,480,000 shares
3
(1)
Assumes the over-allotment option has not been exercised.
(2)
This
    number includes an aggregate of up to 187,500 shares of common stock held by our insiders that are subject to
    forfeiture if the over-allotment option is not fully exercised by the underwriters.
(3)
Assumes the over-allotment option has not been exercised and that 187,500 insider shares that are subject to forfeiture if the over-allotment option is not exercised by the underwriters in full have been forfeited, and 25,000 shares have been issued to the representative of the underwriters at the consummation of the initial public offering. If the over-allotment option is exercised in full, there will be a total of 7,436,250 shares of common stock issued and outstanding.
9
Rights included as part of units:
Number outstanding before this offering
0 rights
Number to be outstanding after this offering and sale of private units
5,205,000 rights
4
Terms of Rights:
Except in cases where we are not the surviving company in a business combination, each holder of a public right will automatically receive one-tenth (1/10) of a share of common stock upon consummation of our initial business combination. In the event we will not be the surviving company upon completion of our initial business combination, each holder of a right will be required to affirmatively convert his, her or its rights in order to receive the one-tenth (1/10) of a share underlying each right upon consummation of the business combination. We will not issue fractional shares in connection with an exchange of rights. Fractional shares will either be rounded down to the nearest whole share or otherwise addressed in accordance with the applicable provisions of the Delaware General Corporation Law. As a result, you must hold rights in multiples of 10 in order to receive shares for all of your rights upon closing of a business combination. If we are unable to complete an initial business combination within the required time period and we redeem the public shares for the funds held in the trust account, holders of rights will not receive any of such funds for their rights and the rights will expire worthless.
Offering proceeds to be held in trust:
$50,000,000 of the net proceeds of this offering and the private placement (or $ 57,500,000 if the over-allotment option is exercised in full), or $10.00 per unit sold to the public in this offering (regardless of whether or not the over-allotment option is exercised in full or part) will be placed in a trust account at JPMorgan Chase Bank, maintained by Continental Stock Transfer & Trust Company, acting as trustee pursuant to an agreement to be signed on the date of this prospectus. $550,000 of net proceeds of this offering will not be held in the trust account.
Except as set forth below, the proceeds in the trust account will not be released until the earlier of: (1) the completion of an initial business combination within the required time period and (2) our redemption of 100% of the outstanding public shares if we have not completed a business combination in the required time period. Therefore, unless and until our initial business combination is consummated, the proceeds held in the trust account will not be available for our use for any expenses related to this offering or expenses which we may incur related to the investigation and selection of a target business and the negotiation of an agreement to acquire a target business.
4
Assumes the over-allotment option has not been exercised. If the over-allotment option is exercised in full, there will be a total of 5,970,000 rights issued and outstanding, including an aggregate of 220,000 rights underlying the private units.
Notwithstanding
the foregoing, there can be released to us from the trust account any interest earned on the funds in the trust account that
we need to pay our income or other tax obligations. With this exception, expenses incurred by us may be paid prior to a
business combination only from the net proceeds of this offering not held in the trust account of approximately $550,000.
Additionally, in order to meet our working capital needs following the consummation of this offering if the funds not held in
the trust account are insufficient, our insiders or their affiliates 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 relevant insider's discretion, up to $1,500,000 of the notes may be converted upon consummation of our
business combination into private units at a price of $10.00 per unit (which, for example, would result in the holders being
issued units to acquire 150,000 shares of common stock and 150,000 rights if $1,500,000 of notes were so converted). If we do
not complete a business combination, the loans will only be repaid with funds not held in the trust account, to the extent
available.
10
Insider Shares
On
January 28, 2021, our sponsor purchased 1,437,500 insider shares for an aggregate purchase price of $25,000, or approximately
$0.017 per share. Our sponsor expects to transfer 4,000 insider shares to the three independent directors at the closing of this
offering. The per share purchase price of the insider shares was determined by dividing the amount of cash contributed to the
company by the aggregate number of insider shares issued. The number of insider shares issued was determined based on the expectation
that the insider shares would represent 20% of the outstanding shares after this offering (not including the shares to be issued
to the underwriter at closing or the shares underlying the private placement units). As such, our insiders will collectively
own 20% of our issued and outstanding shares after this offering. The 1,437,500 insider shares held or controlled by our insiders
include an aggregate of up to 187,500 shares subject to forfeiture to the extent that the underwriters' over-allotment option
is not exercised in full or in part, so that our insiders will collectively own or control 20.0% of our issued and outstanding
shares after this offering (not including the private units and underlying shares and assuming our insiders do not purchase any
public units in this offering). The purchase price of the insider shares was determined by dividing the amount of cash contributed
to the company by the number of insider shares issued. If we increase or decrease the size of the offering pursuant to Rule 462(b)
under the Securities Act, we will effect a stock dividend or share contribution back to capital, as applicable, immediately prior
to the consummation of the offering in such amount as to maintain the ownership of our stockholders prior to this offering at
approximately 20.0% of the number of shares outstanding after this offering. Our insiders will collectively beneficially own approximately
20% of our issued and outstanding shares after this offering (not including the private units and underlying shares and assuming
our insiders do not purchase any public units in this offering). Up to 187,500 insider shares will be subject to forfeiture by
our insiders (and/or their permitted transferees) depending on the extent to which the underwriters' over-allotment option
is exercised.
The insider shares are identical to the shares of common stock included in the units being sold in this offering, except that:
●   the insider shares are subject to certain transfer restrictions, as described in more detail below, and
●  our insiders have entered into letter agreements with us, pursuant to which they have agreed (i) to waive their conversion rights with respect to their insider shares and any public shares they purchase in connection with the completion of our initial business combination and (ii) to waive their redemption rights with respect to their insider shares if we fail to complete our initial business combination within 9 months from the closing of this offering (or 12 or 15 months, as applicable) (although they will be entitled to redemption rights with respect to any public shares they hold if we fail to complete our business combination within the prescribed time frame).
●  If we submit our initial business combination to our public stockholders for a vote, our insiders have agreed to vote their insider shares, private shares and any public shares purchased during or after this offering in favor of our initial business combination.
Transfer restrictions on insider shares
Our insiders have agreed not to transfer, assign or sell any of the insider shares (except to certain permitted transferees) until, with respect to 50% of the insider shares, the earlier of six months after the date of the consummation of our initial business combination and the date on which the closing price of our common stock equals or exceeds $12.50 per share for any 20 trading days within a 30-trading day period following the consummation of our initial business combination and, with respect to the remaining 50% of the insider shares, six months after the date of the consummation of our initial business combination, or earlier in each case if, subsequent to our initial business combination, we complete a liquidation, merger, stock exchange or other similar transaction which results in all of our stockholders having the right to exchange their shares of common stock for cash, securities or other property. The insider shares will be held in escrow with Continental Stock Transfer & Trust Company during the period in which they are subject to the transfer restrictions described above.
11
Private units
SPK Acquisition LLC has committed to purchase from us an aggregate of 205,000 units, or "private units," at $10.00 per private unit (for a total purchase price of $2,050,000). These purchases will take place on a private placement basis simultaneously with the consummation of this offering. All of the proceeds we receive from this purchase will be placed in the trust account described below. SPK Acquisition LLC has also agreed that if the over-allotment option is exercised by the underwriters, they will purchase from us up to a maximum of an additional 15,000 private units at a price of $10.00 per private unit, so that at least $10.00 per share sold to the public in this offering is held in trust regardless of whether the over-allotment option is exercised in full or part. The purchase price of the private units will be added to the proceeds from this offering to pay for the expenses of this offering and to be held in the trust account. If we do not complete our initial business combination within 9 months from the closing of this offering (or 12 or 15 months, as applicable), the proceeds of the sale of the private units will be used to fund the redemption of our public shares (subject to the requirements of applicable law) and the private units will be worthless.
Limited payments to insiders
There will be no fees, reimbursements or other cash payments paid to our insiders or any of the members of our management team prior to, or for any services they render in order to effectuate, the consummation of our initial business combination (regardless of the type of transaction that it is) other than:
●  repayment at the closing of this offering of non-interest bearing loans up to an aggregate amount of $200,000;
●  reimbursement of out-of-pocket expenses incurred by our insiders or any of their affiliates in connection with certain activities on our behalf, such as identifying and investigating possible business targets and business combinations; and
●  repayment of loans which may be made by our insiders or any of their affiliates to finance transaction costs in connection with an initial business combination, the terms of which have not been determined.
There is no limit on the amount of out-of-pocket expenses reimbursable by us; provided, however, that to the extent such expenses exceed the available proceeds not deposited in the trust account, such expenses would not be reimbursed by us unless we consummate an initial business combination. We have no policy which prohibits our insiders or any member of our management team from negotiating the reimbursement of such expenses by a target business. Our audit committee will review and approve all reimbursements and payments made to any insider or member of our management team, or our or their respective affiliates, and any reimbursements and payments made to members of our audit committee will be reviewed and approved by our board of directors, with any interested director abstaining from such review and approval.
Potential
revisions to agreements with insiders
We could seek to amend certain agreements made by our management team disclosed in this prospectus without the approval of stockholders, although we have no intention to do so. For example, restrictions on our executives relating to the voting of securities owned by them, the agreement of our management team to remain with us until the closing of a business combination, the obligation of our management team to not propose certain changes to our organizational documents or the obligation of the management team and its affiliates to not receive any compensation in connection with a business combination could be modified without obtaining stockholder approval. Although stockholders would not be given the opportunity to redeem their shares in connection with such changes, in no event would we be able to modify the redemption or liquidation rights of our stockholders without permitting our stockholders the right to redeem their shares in connection with any such change. We will not agree to any such changes unless we believed that such changes were in the best interests of our stockholders (for example, if such a modification were necessary to complete a business combination).
12
Stockholder approval of, or tender
offer in connection with, initial
business combination
In connection with any proposed initial business combination, we will either (1) seek stockholder approval of such initial business combination at a meeting called for such purpose at which stockholders may seek to convert their shares into the right to receive cash from the trust account, regardless of whether they vote for or against the proposed business combination; or (2) provide our stockholders with the opportunity to sell 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 (net of taxes payable), in each case subject to the limitations described herein. The decision as to whether we will seek stockholder approval of our proposed business combination or 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. If we provide stockholders with the opportunity to sell their shares to us by means of a tender offer, we will file tender offer documents with the SEC which will contain substantially the same financial and other information about the initial business combination as is required under the SEC's proxy rules. If we seek stockholder approval of our initial business combination, we will consummate the business combination only if a majority of the outstanding shares of common stock voted are voted in favor of the business combination.
In addition, we will not consummate our initial business combination if public stockholders exercise conversion rights in an amount that would cause our net tangible assets to be less than $5,000,001 (so that this offering is not subject to Rule 419 promulgated under the Securities Act) or if we do not satisfy any greater net tangible asset or cash requirement which may be contained in the 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 needed to satisfy cash conditions pursuant to the terms of the proposed business combination exceeds the aggregate amount of cash available to us (including any cash we may obtain from financing from third parties or our insiders or their affiliates, which may not be available on terms acceptable to us or at all), we will not complete the business combination (as we may be required to have a lesser number of shares converted). As a result, we may not be able to locate another suitable target within the applicable time period, if at all. However, if we seek stockholder approval of a business combination and if a significant number of public stockholders properly seek to convert their public shares in connection with a proposed business combination, we or our insiders or their affiliates could purchase some or all of such shares in the open market or in private transactions in order to seek to satisfy the cash conditions. 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. No funds from the trust account can be released from the trust account prior to the consummation of a business combination to make such purchases (although such purchases could be made using funds available to us after the closing of a business combination). 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. Notwithstanding the foregoing, we or our insiders and their affiliates will not make purchases of shares of common stock if the purchases would violate Sections 9(a)(2) or 10(b) of the Exchange Act or Regulation M, which are rules that prohibit manipulation of a company's stock, and we and they will comply with Rule 10b-18 under the Exchange Act in connection with any open-market purchases. If purchases cannot be made without violating applicable law, no such purchases will be made.
13
Our
insiders have agreed (A) to vote their insider shares, private shares and any public shares acquired in or after this offering
in favor of any proposed business combination, (B) not to propose, or vote in favor of, an amendment to our certificate of incorporation
that would affect the substance or timing of our obligation to redeem 100% of our public shares if we do not complete our initial
business combination within 9 months from the closing of this offering (or 12 or 15 months if we have extended the period of time
as described in this prospectus), 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 earned on the funds held in the trust account and not previously released to us to pay
our franchise and income taxes, divided by the number of then outstanding public shares, (C) not to convert any shares (including
the insider shares and private shares) into the right to receive cash from the trust account in connection with a stockholder
vote to approve our proposed initial business combination (or sell any shares they hold to us in a tender offer in connection
with a proposed initial business combination) or a vote to amend the provisions of our certificate of incorporation relating to
the substance or timing of our obligation to redeem 100% of our public shares if we do not complete our initial business combination
within 9 months from the closing of this offering (or 12 or 15 months if we have extended the period of time as described in this
prospectus) and (D) that the insider shares and private shares shall not be entitled to be redeemed for a pro rata portion of
the funds held in the trust account if a business combination is not consummated. Depending on how a business combination was
structured, any stockholder approval requirement could be satisfied by obtaining the approval of either (i) a majority of the
shares of our common stock that were voted at the meeting (assuming a quorum was present at the meeting), or (ii) a majority of
the outstanding shares of our common stock. Because our insiders will collectively beneficially own approximately 20.0% of our
issued and outstanding shares of common stock (not including the private units and underlying securities and assuming our insiders
do not purchase any units in this offering) upon consummation of this offering, a minimum of approximately 165,001 public shares,
or approximately 3.28% of the outstanding shares of our common stock (if the approval requirement was a majority of shares voted
and assuming that only a quorum was present at the meeting, that the over-allotment option is not exercised, and that the insiders do
not purchase any units in this offering or units or shares in the after-market), would need to be voted in favor of a business
combination in order for it to be approved.
None of our insiders, director nominees or their affiliates has committed to purchase units in this offering or any units or shares of common stock in the open market or in private transactions. However, if a significant number of stockholders vote, or indicate an intention to vote, against a proposed business combination, our insiders or their affiliates could make such purchases in the open market or in private transactions in order to influence the vote. Notwithstanding the foregoing, our insiders and their affiliates will not make purchases of shares of common stock if the purchases would violate Section 9(a)(2) or Rule 10b-5 of the Exchange Act.
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. 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 value of the trust account (excluding any deferred underwriter's 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 we are no longer listed on Nasdaq, we will not be required to satisfy the 80% test.
If our board is not able to independently determine the fair market value of the target business or businesses, we may obtain an opinion from an independent investment banking or accounting firm as to the fair market value of the target business. 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 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. 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% test, provided that in the event that the business combination involves more than one target business, the 80% test will be based on the aggregate value of all of the target businesses.
14
Conversion rights
In connection with any stockholder meeting called to approve a proposed initial business combination, each public stockholder will have the right, regardless of whether he, she or it is voting for or against such proposed business combination, to demand that we convert his, her or its public shares into a
pro rata
share of the trust account upon consummation of the business combination.
We may require public stockholders wishing to exercise conversion rights, whether they are a record holder or hold their shares in "street name," to either tender the certificates they are seeking to convert to our transfer agent or to deliver the shares they are seeking to convert to the transfer agent electronically using Depository Trust Company's DWAC (Deposit/Withdrawal At Custodian) System, at the holder's option, at any time at or prior to the vote on the business combination. There is a nominal cost associated with this 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 $45 and it would be up to the broker whether or not to pass this cost on to the converting holder. However, this fee would be incurred regardless of whether or not we require holders to deliver their shares prior to the vote on the business combination in order to exercise conversion rights. This is because a holder would need to deliver shares to exercise conversion rights regardless of the timing of when such delivery must be effectuated. However, in the event we require stockholders to deliver their shares prior to the vote on the proposed business combination and the proposed business combination is not consummated, this may result in an increased cost to stockholders.
Under Delaware law, we may be required to give a minimum of only ten days' notice for each general meeting. As a result, if we require public stockholders who wish to convert their shares of common stock into the right to receive a
pro rata
portion of the funds in the trust account to comply with the foregoing delivery requirements, holders may not have sufficient time to receive the notice and deliver their shares for conversion. Accordingly, investors may not be able to exercise their conversion rights and may be forced to retain our securities when they otherwise would not want to.
If we require public stockholders who wish to convert their shares of common stock to comply with specific delivery requirements for conversion described above and such proposed business combination is not consummated, we will promptly return such certificates to the tendering public stockholders.
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. We will use these funds to pay amounts due to any public stockholders who exercise their conversion rights as described above under "— Conversion rights," to pay the underwriters their deferred underwriting commissions, to pay all or a portion of the consideration payable to the target or targets or owners of the target or targets 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 stock 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.
15
Liquidation if no business combination
If
we are unable to complete our initial business combination within 9 months from the closing of this offering (or 15 months from
the closing of this offering if we have filed a proxy statement, registration statement or similar filing for an initial business
combination within 9 months from the closing of this offering but have not completed the initial business combination within such
9-month 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 100% of the outstanding public shares for a pro rata portion of the funds
held in the trust account, 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 holders of common stock and our board of directors,
dissolve and liquidate, subject (in the case of (ii) and (iii) above) to our obligations under Delaware law to provide for claims
of creditors and the requirements of other applicable law. However, if we anticipate that we may not be able to consummate our
initial business combination within 9 months and we have not filed a proxy statement, registration statement or similar filing
for an initial business combination by such date, our insiders or their affiliates may, but are not obligated to, extend the period
of time to consummate a business combination two times by an additional three months each time (for a total of up to 15 months
to complete a business combination), provided that, 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, the only way to extend the time available for us to consummate our initial business combination in the absence of
a proxy statement, registration statement or similar filing is for our insiders or their affiliates or designees, upon five days'
advance notice prior to the applicable deadline, to deposit into the trust account $500,000, or $575,000 if the over-allotment
option is exercised in full ($0.10 per share in either case, or an aggregate of $1,000,000 (or $1,150,000 if the over-allotment
option is exercised in full)), on or prior to the date of the applicable deadline. In the event that they elected to extend the
time to complete a business combination and deposited the applicable amount of money into trust, the insiders would receive a
non-interest bearing, unsecured promissory note equal to the amount of any such deposit that will not be repaid in the event that
we are unable to close a business combination unless there are funds available outside the trust account to do so. Such notes
would either be paid upon consummation of our initial business combination, or, at the relevant insider's discretion, converted
upon consummation of our business combination into additional private units at a price of $10.00 per unit. Our stockholders
have approved the issuance of the private units upon conversion of such notes, to the extent the holder wishes to so convert
such notes at the time of the consummation of our initial business combination. In the event that we receive notice from our insiders
five days prior to the applicable deadline of their intent 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 insiders 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. To the extent
that some, but not all, of our insiders, decide to extend the period of time to consummate our initial business combination, such
insiders (or their affiliates or designees) may deposit the entire amount required.
In connection with our redemption of 100% of our outstanding public shares, each holder will receive an amount equal to (1) the number of public shares being converted by such public holder divided by the total number of public shares multiplied by (2) the amount then in the trust account (initially $10.00 per share), which includes the deferred underwriting commission, plus a pro rata portion of any interest earned on the funds held in the trust account and not previously released to us or necessary to pay our taxes (subject in each case to our obligations under Delaware law to provide for claims of creditors).
16
The proceeds deposited in the trust account could, however, become subject to claims of our creditors that are in preference to the claims of our stockholders. We may not have funds sufficient to pay or provide for all creditors' claims. Although we will seek to have all vendors, service providers (excluding our independent registered public accounting firm), prospective target businesses and 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. The underwriters will not execute agreements with us waiving such claims to the monies held in the trust account. 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 sponsor has 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 amounts 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, in each case less taxes payable, provided that such liability will not apply to any claims by a third-party who executed a waiver of any and all rights to seek access to the trust account nor will it apply 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 sponsor will not be responsible to the extent of any liability for such third-party claims. However, we have not asked our sponsor to reserve for such indemnification obligations, nor have we independently verified whether our sponsor has sufficient funds to satisfy its indemnity obligations and we believe that our sponsor's only assets are securities of our company. Therefore, we cannot assure you that our sponsor would be able to satisfy those obligations. None of our officers or directors will indemnify us for claims by third parties, including, without limitation, claims by vendors and prospective target businesses.
In the event that the proceeds in the trust account are reduced 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, in each case less taxes payable, and our sponsor asserts 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 sponsor to enforce its indemnification obligations. While we currently expect that our independent directors would take legal action on our behalf against our sponsor 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 less than $10.00 per share.
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.
17
The holders of the insider shares and private units (and underlying securities) will not participate in any redemption distribution with respect to their insider shares and private units (and underlying securities), but may have any public shares redeemed upon liquidation.
If we are unable to conclude our initial business combination and we expend all of the net proceeds of this offering not deposited in the trust account, without taking into account any interest earned on the trust account, we expect that the initial per-share redemption price will be approximately $10.00.
We will pay the costs of any liquidation following the redemptions from our remaining assets outside of the trust account. If such funds are insufficient, our insiders have agreed to pay the funds necessary to complete such liquidation (currently anticipated to be no more than approximately $15,000) and have agreed not to seek repayment for such expenses.
The underwriters have agreed to waive their rights to the deferred underwriting commissions held in the trust account in the event we do not consummate a business combination within 9 months from the closing of this offering (or 12 or 15 months, as applicable) and in such event, such amounts will be included with the funds held in the trust account that will be available to fund the redemption of our public shares.
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 to offerings
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" beginning on page 22 of this prospectus. If any of the factors enumerated below
or in the section entitled "Risk Factors" occurs, our business, financial condition, liquidity, results of operations
and prospects could be materially and adversely affected. In that case, the market price of our securities could decline, and
you may lose some or all of your investment. Some of the more significant risks relating to this offering and an investment in
our units include:
18
●
Risks
                                         associated with our business
o
Our
                                         search for a business combination, and any target business with which we ultimately consummate
                                         a business combination, may be materially adversely affected by the recent coronavirus
                                         (COVID-19) outbreak.
o
Our
                                         public stockholders may not be afforded an opportunity to vote on our proposed initial
                                         business combination, which means we may complete our initial business combination even
                                         though a majority of our public stockholders do not support such a combination.
o
If
                                         third parties bring claims against us, the proceeds held in the trust account could be
                                         reduced and the per-share redemption price received by stockholders may be less than
                                         approximately $10.00.
o
We
                                         may be unable to obtain additional financing, if required, to complete our initial business
                                         combination or to fund the operations and growth of the target business, which could
                                         compel us to restructure or abandon a particular business combination.
o
Our
                                         insiders paid an aggregate of $25,000, or approximately $0.017 per share, for the insider
                                         shares, and, accordingly, you will experience immediate and substantial dilution from
                                         the purchase of our shares of common stock.
o
Holders
                                         of rights will not have redemption rights.
o
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. While we intend to closely scrutinize
                                         any individuals we engage after our initial business combination, our assessment of these
                                         individuals may not prove to be correct.
o
Resources
                                         could be wasted in researching business combinations 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.
●
Risks
                                         associated with acquiring and operating a business outside of the United States or with
                                         its primary operation in China
o
If
                                         we effect our initial business combination with a company located outside of the United
                                         States, we would be subject to a variety of additional risks that may negatively impact
                                         our operations, including any of the following:
■
rules
                                         and regulations or currency conversion or corporate withholding taxes on individuals;
■
tariffs
                                         and trade barriers;
■
regulations
                                         related to customs and import/export matters;
■
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;
■
challenges
                                         in collecting accounts receivable;
■
cultural
                                         and language differences;
■
employment
                                         regulations;
■
crime,
                                         strikes, riots, civil disturbances, terrorist attacks and wars;
■
deterioration
                                         of political relations with the United States; and
■
alternative
                                         structures to comply with regulations in certain Chinese industries.
We may not
be able to adequately address these additional risks. If we are unable to do so, our operations may suffer.
19
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, and accordingly only balance sheet data is presented.
February 10, 2021
Actual
As Adjusted
Balance Sheet Data:
(Unaudited)
Working capital (deficiency)
(1)
$
(63,125
)
$
49,074,375
Total assets
(2)
$
250,000
$
50,574,375
Total liabilities
(3)
$
225,625
$
1,500,000
Value of common stock
subject to possible conversion/tender
(4)
—
$
44,074,370
Shareholders'
equity
(5)
$
24,375
$
5,000,005
(1)
The
"as adjusted" calculation assumes no exercise of the over-allotment option and includes $50,000,000 cash held in trust
from the proceeds of this offering and the sale of the private placement units, plus $550,000 of proceeds from the offering held
outside the trust, plus $0 from the issuance of the representative shares, plus $24,375 of actual stockholders' equity
on February 10, 2021, less $1,500,000 of deferred underwriting commission.
(2)
The
"as adjusted" calculation assumes no exercise of the over-allotment option and includes $50,000,000 cash held in trust
from the proceeds of this offering and the sale of the private placement units, plus $550,000 of proceeds from the offering held
outside the trust, plus $0 from the issuance of the representative shares, plus $24,375 of actual stockholders' equity
on February 10, 2021.
(3)
The "as adjusted" liabilities
represent up to $1,500,000 of deferred underwriting commissions.
(4)
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 asset threshold of at least $5,000,001.
(5)
Assuming
                                         no exercise of the over-allotment option, the "as adjusted" calculation equals
                                         total the "as adjusted" total assets, less the "as adjusted"
                                         total liabilities, less the value of the shares of common stock that may be redeemed
                                         in connection with our initial business combination ($10.00 per share).
The "as adjusted" information
gives effect to the sale of the units we are offering and the sale of the private units, including the application of the related
gross proceeds and the payment of the estimated remaining costs from such sale and the repayment of the promissory note payable
to the sponsor and accrued liabilities required to be repaid.
The "as adjusted"
total assets amount $50,000,000 to be held in the trust account if the underwriter's over-allotment option is not exercised
will be available to us only upon the consummation of a business combination
within the time period described in this prospectus.
If our initial business combination
is not consummated within 9 months (or up to 15 months from the closing of this offering if we extend the time period 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, less amounts we are permitted to withdraw as described in this prospectus, will be distributed solely
to our public stockholders (subject to our obligations under Delaware law to provide for claims of creditors).
20
RISK FACTORS
An investment in our securities involves
a high degree of risk. You should consider carefully all of the risks described below, which we believe represent the material
risks related to the offering, 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. This
prospectus also contains forward-looking statements that involve risks and uncertainties. Our actual results could differ materially
from those anticipated in the forward-looking statements as a result of specific factors, including the risks described below.
RISKS ASSOCIATED WITH OUR BUSINESS
We are a newly formed early stage
company with no operating history and, accordingly, you have no basis on which to evaluate our ability to achieve our business
objective.
We are a newly formed early stage 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, which is to complete
our initial business combination with one or more target businesses. We have not engaged in any substantive discussions and we
have no plans, arrangements or understandings with any prospective target business concerning a business combination and may be
unable to complete our business combination. If we fail to complete our business combination, we will never generate any operating
revenues.
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 February10, 2021, we had $162,500
in cash and a working capital deficit of $63,125.   Further, we have incurred and expect to continue to incur significant
costs in pursuit of our finance and 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." We cannot assure you that our plans to raise capital or to consummate an initial business combination will
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.
We will have until 9 months from the
closing of this offering (or 12 or 15 months if we have extended the period of time as described in this prospectus) to consummate
our initial business combination. We have no obligation to return funds to investors prior to such date unless we consummate our
initial business combination prior thereto and only then in cases where investors have sought to convert their shares. Only after
the expiration of this full time period will holders of our common stock be entitled to distributions from the trust account if
we are unable to complete our initial business combination. Accordingly, investors' funds may be unavailable to them until after
such date and to liquidate your investment, public security holders may be forced to sell their public shares, potentially at a
loss.
Our public stockholders may not
be afforded an opportunity to vote on our proposed business combination.
We will either (1) seek stockholder
approval of our initial business combination at a meeting called for such purpose at which public stockholders may seek to convert
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 (net of taxes payable), or (2) provide our public stockholders with the opportunity
to sell 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, in each case subject to the limitations described
elsewhere in this prospectus. Accordingly, it is possible that we will consummate our initial business combination even if holders
of a majority of our public shares do not approve of the business combination. 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. For instance, 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 instead of conducting a tender offer.
21
You will not be entitled to protections
normally afforded to investors of blank check companies.
Since the net proceeds of this offering
are intended to be used to complete our 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, since we will have net tangible
assets in excess of $5,000,001 upon the successful consummation of this offering 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 of blank
check companies such as Rule 419. Accordingly, investors will not be afforded the benefits or protections of those rules which
would, for example, completely restrict the transferability of our securities, require us to complete our initial business combination
within 9 months (or 12 or 15 months if we have extended the period of time as described in this prospectus) of the effective date
of the initial registration statement and restrict the use of interest earned on the funds held in the trust account. Because we
are not subject to Rule 419, our units will be immediately tradable, we will be entitled to withdraw amounts from the funds held
in the trust account prior to the completion of our initial business combination and we may have a longer period of time to complete
such a business combination than we would if we were subject to such rule.
If we determine to amend certain
agreements made by our management team, many of the disclosures contained in this prospectus regarding those agreements would no
longer apply.
We could seek to amend certain agreements
with our management team disclosed in this prospectus without the approval of our stockholders, although we have no current intention
to do so. For example, restrictions on our executives relating to the voting of securities owned by them, the agreement of our
management team to remain with us until the closing of a business combination, the obligation of our management team to not propose
certain changes to our organizational documents or the obligation of the management team and its affiliates to not receive any
compensation in connection with a business combination could be modified without obtaining stockholder approval. Although stockholders
would not be given the opportunity to redeem their shares in connection with such changes, in no event would we be able to modify
the redemption or liquidation rights of our stockholders without permitting our stockholders the right to redeem their shares in
connection with any such change. We will not agree to any such changes unless we believed that such changes were in the best interests
of our stockholders (for example, if such a modification were necessary to complete a business combination).
If we deviate from the acquisition
criteria or guidelines set forth in this prospectus, investors in this offering may have rescission rights or may bring an action
for damages against us or we could be subject to civil or criminal actions taken by governmental authorities.
If we were to elect to deviate from
the acquisition criteria or guidelines set forth in this prospectus, each person who purchased units in this offering and still
held such securities upon learning of the facts relating to the deviation may seek rescission of the purchase of the units he or
she acquired in the offering (under which a successful claimant has the right to receive the total amount paid for his or her securities
pursuant to an allegedly deficient prospectus, plus interest and less any income earned on the securities, in exchange for surrender
of the securities) or bring an action for damages against us (compensation for loss on an investment caused by alleged material
misrepresentations or omissions in the sale of a security). In such event, we could also be subject to civil or criminal actions
taken by governmental authorities. For instance, the SEC can seek injunctions under Section 20(b) of the Securities Act if it believes
a violation under the Securities Act has occurred or is imminent. The SEC can also seek civil penalties under Sections 20(d) and
24 if a party has violated the Securities Act or an injunctive action taken by the SEC or if a party willfully, in a registration
statement filed under the Securities Act, makes any untrue statement of a material fact or omits to state any material fact required
to be stated therein or necessary to make the statements therein not misleading. Furthermore, Section 20 allows the SEC to refer
matters to the attorney general to bring criminal penalties against an issuer.
We may issue shares of our capital
stock to complete our initial business combination, which would reduce the equity interest of our stockholders and likely cause
a change in control of our ownership.
Our amended certificate of incorporation
will authorize the issuance of up to 10,000,000 shares of common stock, par value $0.0001 per share. Immediately after this offering
and the purchase of the private units (assuming no exercise of the underwriters' over-allotment option), there will be approximately
2,999,500 authorized but unissued shares of common stock available for issuance (after appropriate reservation for the issuance
of the shares underlying the public rights, private units, and shares payable to the underwriter). Although we have no commitment
as of the date of this offering, we may issue a substantial number of additional shares of common stock to complete our initial
business combination. The issuance of additional shares of common stock:
●
may significantly reduce the equity interest of investors in this offering;
●
may subordinate the rights of holders of shares of common stock if we issue shares of preferred stock with rights senior to those afforded to our shares of common stock;
●
may cause a change in control if a substantial number of shares of 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; and
●
may adversely affect prevailing market prices for our shares of common stock.
22
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, we may choose
to incur substantial debt to complete our business combination. However, the incurrence of debt could have a variety of negative
effects, including:
●
default and foreclosure on our assets if our operating revenues after our 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; 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.
We may be limited to the funds
held outside of the trust account to fund our search for target businesses, to pay our tax obligations and to complete our initial
business combination.
Of the net proceeds of this offering,
$550,000 is anticipated to be available to us initially outside the trust account to fund our working capital requirements. Especially
if the over-allotment option is exercised in full, we may not have sufficient funds available with which to structure, negotiate
or close our initial business combination. In such event, we would need to borrow funds from our insiders to operate or may be
forced to liquidate. Our insiders are under no obligation to loan us any funds. If we are unable to obtain the funds necessary,
we may be forced to cease searching for a target business and may be unable to complete our initial business combination.
We may not have sufficient working
capital to cover our operating expenses.
Following the consummation of this offering,
the amounts available to us to pay our operating expenses will consist only of the approximately $550,000 initially held outside
of the trust account. Therefore, if our expenses exceed our estimates, we will not have sufficient funds outside the trust account
to cover our expenses. In such event, we would need to borrow funds from our insiders or from third parties to continue to operate.
However, our insiders and third parties are under no obligation to loan us any funds. If we are unable to obtain the necessary
funds, we may be forced to cease searching for a target business and liquidate without completing our initial business combination.
Reimbursement of out-of-pocket
expenses incurred by our insiders or any of their affiliates in connection with certain activities on our behalf, such as identifying
and investigating possible business targets and business combinations, could reduce the funds available to us to consummate a business
combination. In addition, an indemnification claim by one or more of our officers and directors in the event that any of them are
sued in their capacity as an officer or director could also reduce the funds available to us outside of the trust account.
We may reimburse our insiders or any
of their affiliates for out-of-pocket expenses incurred in connection with certain activities on our behalf, such as identifying
and investigating possible business targets and business combinations. There is no limit on the amount of out-of-pocket expenses
reimbursable by us; provided that, to the extent such expenses exceed the available proceeds not deposited in the trust account,
such expenses would not be reimbursed by us unless we consummate an initial business combination. In addition, pursuant to our
certificate of incorporation and Delaware law, we may be required to indemnify our officers and directors in the event that any
of them are sued in their capacity as an officer or director. We will also enter into agreements with our officers and directors
to provide contractual indemnification in addition to the indemnification provided for in our certificate of incorporation and
under Delaware law. In the event that we reimburse our insiders or any of their affiliates for out-of-pocket expenses prior to
the consummation of a business combination or are required to indemnify any of our officers or directors pursuant to our certificate
of incorporation, Delaware law, or the indemnity agreements that we will enter into with them, we would use funds available to
us outside of the trust account for our working capital requirements. Any reduction in the funds available to us could have a material
adverse effect on our ability to locate and investigate prospective target businesses and to structure, negotiate, conduct due
diligence in connection with or consummate our initial business combination.
23
If third parties bring claims
against us, the proceeds held in the trust account could be reduced and the per-share redemption price received by stockholders
may be less than approximately $10.00.
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 (excluding
our independent registered public accounting firm), prospective target businesses and 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.
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 consummate an initial business combination within 9 months from the closing of this offering
(or 12 or 15 months if we have extended the period of time as described in this prospectus), or upon the exercise of a redemption
right in connection with our initial 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 public share initially held in the trust account, due
to claims of such creditors. Pursuant to the letter agreement the form of which is filed as an exhibit to the registration statement
of which this prospectus forms a part, our sponsor has agreed that it will be liable to us if and to the extent any claims by a
third-party (excluding our independent registered public accounting firm) 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 amounts in the trust account to
below the lesser of (i) $10.00 per public share and (ii) the actual amount per 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, in each
case less taxes payable, provided that such liability will not apply to any claims by a third-party who executed a waiver of any
and all rights to seek access to the trust account nor will it apply to any claims under our 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 sponsor will not be responsible to the extent of any liability for such
third-party claims. However, we have not asked our sponsor to reserve for such indemnification obligations, nor have we independently
verified whether our sponsor has sufficient funds to satisfy its indemnity obligations and we believe that our sponsor's only assets
are securities of our company. Therefore, we cannot assure you that our sponsor would be able to satisfy those obligations. None
of our officers or directors will indemnify us for claims by third parties, including, without limitation, claims by vendors and
prospective target businesses.
Our directors may decide not to
enforce the indemnification obligations of our sponsor, 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 and (ii) the actual amount per 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, in each case less taxes payable, and our sponsor asserts 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 sponsor to enforce its indemnification obligations. While we currently expect that our independent directors would
take legal action on our behalf against our sponsor to enforce its indemnification obligations to us, it is possible that our
independent directors in exercising their business judgment and subject to their fiduciary duties 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.
24
Our stockholders may be held liable
for claims by third parties against us to the extent of distributions received by them.
If we have not completed our initial
business combination within 9 months from the closing of this offering (or 12 or 15months if we have extended the period of time
as described 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 100% of the outstanding public shares for a pro rata portion of
the funds held in the trust account, 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 holders of common stock and our board of directors,
dissolve and liquidate, subject (in the case of (ii) and (iii) above) to our obligations under Delaware law to provide for claims
of creditors and the requirements of other applicable law. We may not 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 well beyond the third anniversary of the date of distribution. Accordingly,
third parties may seek to recover from our stockholders amounts owed to them by us.
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.
Holders of rights will not have
redemption rights.
If we are unable to complete an initial
business combination within the required time period and we redeem the funds held in the trust account, the rights will expire
and holders will not receive any of the amounts held in the trust account in exchange for such rights.
Since we have not yet selected
a particular industry or target business with which to complete our initial business combination, we are unable to currently ascertain
the merits or risks of the industry or business in which we may ultimately operate.
Although we intend to focus our search
on target businesses operating in Asia, we may consummate our initial business combination with a target business in any industry
or geographic region we choose and are not limited to any particular industry, type of business or geographic region. Accordingly,
there is no current basis for you to evaluate the possible merits or risks of the particular industry in which we may ultimately
operate or the target business which we may ultimately consummate our initial business combination. To the extent we complete
our initial business combination with a financially unstable company or an entity in its development stage, we may be affected
by numerous risks inherent in the business operations of those entities. If we complete our initial business combination with
an entity in an industry characterized by a high level of risk, we may be affected by the currently unascertainable risks of that
industry. We may not properly ascertain or assess all of the significant risk factors. An investment in our shares may not ultimately
prove to be more favorable to investors in this offering than a direct investment, if an opportunity were available, in a target
business.
25
The requirement that our initial
business combination occur with one or more target businesses having an aggregate fair market value equal to at least 80% of the
value of the trust account at the time of the execution of a definitive agreement for our initial business combination may limit
the type and number of companies that we may complete such a business combination with.
Pursuant to the Nasdaq listing rules,
our initial business combination must occur with one or more target businesses having an aggregate fair market value equal to at
least 80% of the value of the trust account (excluding any deferred underwriter's fees and taxes payable on the income earned on
the trust account) at the time of the execution of a definitive agreement for our initial business combination. This restriction
may limit the type and number of companies that we may complete a business combination with. If we are unable to locate a target
business or businesses that satisfy this fair market value test, we may be forced to liquidate and you will only be entitled to
receive your pro rata portion of the funds in the trust account. If we are no longer listed on Nasdaq, we will not be required
to satisfy the 80% test.
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 such that the post-transaction company owns 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, but we will only complete such business
combination if the post-transaction company owns 50% or more of the outstanding voting securities of the target or otherwise owns
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 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. 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.
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. While we intend to closely scrutinize any individuals we engage
after our initial business combination, our assessment of these individuals may not prove to be correct.
Our ability to successfully effect our
initial business combination is dependent upon the efforts of our key personnel. We believe that our success depends on the continued
service of our key personnel, at least until we have consummated our initial business combination. None of our officers are required
to commit any specified amount of time to our affairs (although we expect them to devote approximately 10 hours per week to our
business) and, accordingly, they will have conflicts of interest in allocating management time among various business activities,
including identifying potential business combinations and monitoring the related due diligence. If our officers' and directors'
other business affairs require them to devote more substantial amounts of time to their other business activities, it could limit
their ability to devote time to our affairs and could have a negative impact on our ability to consummate our initial business
combination. In addition, we do not have employment agreements with, or key-man insurance on the life of, any of our officers.
The unexpected loss of the services of our key personnel could have a detrimental effect on us.
The role of our key personnel after
our initial business combination, however, remains to be determined. Although some of our key personnel serve in senior management
or advisory positions following our initial business combination, it is likely that most, if not all, of the management of the
target business will remain in place. These individuals may be unfamiliar with the requirements of operating a public company,
which could cause us to have to expend time and resources helping them become familiar with such requirements. This could be expensive
and time-consuming and could lead to various regulatory issues which may adversely affect our operations.
26
Our officers and directors may
not have significant experience or knowledge regarding the jurisdiction or industry of the target business we may seek to consummate
our initial business combination with.
We may consummate a business combination
with a target business in any geographic location or industry we choose although we intend to focus on the Asia TMT sector.
Our officers and directors may not have enough experience or sufficient knowledge relating to the jurisdiction of the target or
its industry to make an informed decision regarding our initial business combination.
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 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.
Our insiders and their affiliates
may be owed reimbursement for out-of-pocket expenses which may cause them to have conflicts of interest in determining whether
a particular business combination is most advantageous.
Our insiders and their affiliates may
incur out-of-pocket expenses in connection with certain activities on our behalf, such as identifying and investigating possible
business targets and combinations. We have no policy that would prohibit these individuals and their affiliates from negotiating
the reimbursement of such expenses by a target business. As a result, the personal and financial interests of such individuals
may influence their motivation in identifying and selecting a target business.
Members of our management team
may have affiliations with entities engaged in business activities similar to those intended to be conducted by us and, accordingly,
may have conflicts of interest in determining to which entity a particular business opportunity should be presented.
Members of our management team may
have affiliations with companies, including companies that are engaged in business activities similar to those intended to be
conducted by us. Our directors and officers may continue to be involved in the formation of other special purpose
acquisition companies in the future. Accordingly, they may participate in transactions and have obligations that may be in conflict
or competition with our consummation of our initial business combination. As a result, a potential target business may be presented
by our management team to another entity prior to its presentation to us and we may not be afforded the opportunity to engage
in a transaction with such target business. For a more detailed description of the potential conflicts of interest of our management,
see the section titled "Management — Conflicts of Interest."
We may engage in a business combination
with one or more target businesses that have relationships with entities that may be affiliated with our executive officers, directors
or insiders, which may raise potential conflicts of interest.
In light of the involvement of our insiders
and director nominees with other entities, we may decide to acquire one or more businesses affiliated with our insiders and director
nominees. Our directors and director nominees also serve as officers and board members for other entities, including, without limitation,
those described under "Management — Conflicts of Interest." Our insiders and director nominees are not currently
aware of any specific opportunities for us to complete our 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," such transaction was approved by a majority of our disinterested and independent directors (if we have any at
that time), and we obtain an opinion from an independent investment banking firm that the business combination is fair to our unaffiliated
stockholders from a financial point of view. Despite our agreement to obtain an opinion from an independent investment banking
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 insiders, 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.
27
The shares beneficially owned
by our insiders, including our officers and directors, will not participate in a redemption and, therefore, our insiders may have
a conflict of interest in determining whether a particular target business is appropriate for our initial business combination.
Our insiders, including our officers
and directors, have waived their right to convert their insider shares and private shares in connection with a business combination
and their redemption rights with respect to their insider shares and private shares if we are unable to consummate our initial
business combination. Accordingly, these securities will be worthless if we do not consummate our initial business combination.
The personal and financial interests of our directors and officers may influence their motivation in timely identifying and selecting
a target business and completing a business combination. Consequently, our directors' and officers' discretion in identifying and
selecting a suitable target business may result in a conflict of interest when determining whether the terms, conditions and timing
of a particular business combination are appropriate and in our stockholders' best interest.
If we are unable to consummate
a business combination, any loans made by our insiders, including our officers and directors, or their affiliates would not be
repaid, resulting in a potential conflict of interest in determining whether a potential transaction is in our stockholders' best
interest.
In order to meet our working capital
needs following the consummation of this offering, our insiders, including our officers and directors, or their affiliates 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. The loans would be non-interest bearing and would be payable at the consummation of a business combination. If we fail
to consummate a business combination within the required time period, the loans would not be repaid. Consequently, our directors
and officers may have a conflict of interest in determining whether the terms, conditions and timing of a particular business combination
are appropriate and in our stockholders' best interest.
Nasdaq may delist our securities
from quotation on its exchange, which could limit investors' ability to make transactions in our securities and subject us to additional
trading restrictions.
We anticipate that our securities will
be listed on Nasdaq, a national securities exchange, upon consummation of this offering. 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. Generally, we must maintain a minimum amount in stockholders' equity (generally
$5.0 million) and a minimum number of holders of our securities (generally 300 public holders). 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 and our stockholders' equity
would generally be required to be at least $5.0 million. 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, we could face significant material adverse consequences, including:
●
a limited availability of market quotations for our securities;
●
reduced liquidity with respect to our securities;
●
a determination that our shares are a "penny stock," which will require brokers trading in our shares to adhere to more stringent rules, possibly resulting in a reduced level of trading activity in the secondary trading market for our shares;
●
a limited amount of news and analyst coverage for our company; and
●
a decreased ability to issue additional securities or obtain additional financing in the future.
We may only be able to complete
one business combination with the proceeds of this offering, which will cause us to be solely dependent on a single business which
may have a limited number of products or services.
It is likely we will consummate our
initial business combination with a single target business, although we have the ability to simultaneously consummate our initial
business combination with several target businesses. By consummating a business combination with only a single entity, our lack
of diversification may subject us to numerous economic, competitive and regulatory developments. 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, or
●
dependent upon the development or market acceptance of a single or limited number of products, processes or services.
This lack of diversification may subject
us to numerous economic, competitive and regulatory developments, 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.
28
Alternatively, if we determine to simultaneously
consummate our initial business combination with several businesses and such businesses 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 the 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 target 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.
The ability of our public stockholders
to exercise their conversion rights may not allow us to effectuate the most desirable business combination or optimize our capital
structure.
If our initial business combination
requires us to use substantially all of our cash to pay the purchase price, because we will not know how many public stockholders
may exercise conversion rights, we may either need to reserve part of the trust account for possible payment upon such conversion,
or we may need to arrange third-party financing to help fund our initial business combination. In the event that the business combination
involves the issuance of our stock as consideration, we may be required to issue a higher percentage of our stock to make up for
a shortfall in funds. Raising additional funds to cover any shortfall may involve dilutive equity financing or incurring indebtedness
at higher than desirable levels. This may limit our ability to effectuate the most attractive business combination available to
us.
We may be unable to consummate
an initial business combination if a target business requires that we have a certain amount of cash at closing, in which case public
stockholders may have to remain stockholders of our company and wait until our redemption of the public shares to receive a pro
rata share of the trust account or attempt to sell their shares in the open market.
A potential target may make it a closing
condition to our initial business combination that we have a certain amount of cash in excess of the $5,000,001 of net tangible
assets we are required to have pursuant to our organizational documents available at the time of closing. If the number of our
public stockholders electing to exercise their conversion rights has the effect of reducing the amount of money available to us
to consummate an initial business combination below such minimum amount required by the target business and we are not able to
locate an alternative source of funding, we will not be able to consummate such initial business combination and we may not be
able to locate another suitable target within the applicable time period, if at all. In that case, public stockholders may have
to remain stockholders of our company and wait the full 9 months (or 12 or 15 months if we have extended the period of time to
complete a business combination as described in this prospectus) in order to be able to receive a portion of the trust account,
or attempt to sell their shares in the open market prior to such time, in which case they may receive less than they would have
in a liquidation of the trust account.
Public stockholders, together
with any affiliates of theirs or any other person with whom they are acting in concert or as a "group," will be restricted
from seeking conversion rights with respect to more than 20% of the shares of common stock sold in this offering.
In connection with any meeting held
to approve an initial business combination, we will offer each public stockholder (but not our insiders) the right to have his,
her, or its shares of common stock converted into cash. Notwithstanding the foregoing, a public stockholder, together with any
affiliate of his or hers or any other person with whom he or she is acting in concert or as a "group," will be restricted
from seeking conversion rights with respect to more than 20% of the shares of common stock sold in this offering. Generally, in
this context, a stockholder will be deemed to be acting in concert or as a group with another stockholder when such stockholders
agree to act together for the purpose of acquiring, voting, holding or disposing of our equity securities. Accordingly, if you
purchase more than 20% of the shares of common stock sold in this offering and our proposed business combination is approved, you
will not be able to seek conversion rights with respect to the full amount of your shares and may be forced to hold such additional
shares of common stock or sell them in the open market. The value of such additional shares may not appreciate over time following
our initial business combination, and the market price of our shares of common stock may not exceed the per-share conversion price.
29
We may require public stockholders
who wish to convert their shares of common stock in connection with a vote of stockholders on a proposed business combination
to comply with specific requirements for conversion that may make it more difficult for them to exercise their conversion rights
prior to the deadline for exercising their rights.
In connection with any stockholder meeting
called to approve a proposed initial business combination, each public stockholder will have the right, regardless of whether he
or she is voting for or against such proposed business combination, to demand that we convert his or her shares of common stock
into a share of the trust account. We may require public stockholders seeking to convert their shares in connection with a stockholder
vote on a proposed business combination, whether they are a record holder or hold their shares in "street name," to either
tender their certificates to our transfer agent 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, at least two business days on the initial
business combination (a tender of shares is always required in connection with a tender offer). In order to obtain a physical stock
certificate, a stockholder's broker and/or clearing broker, DTC and our transfer agent will need to act to facilitate this request.
It is our understanding that stockholders should generally allot at least two weeks to obtain physical certificates from the transfer
agent. However, because we do not have any control over this process or over the brokers or DTC, it may take significantly longer
than two weeks to obtain a physical stock certificate. While we have been advised that it takes a short time to deliver shares
through the DWAC System, this may not be the case. Under Delaware law and our bylaws, we are required to provide at least 10 days'
advance notice of any stockholder meeting, which would be the minimum amount of time a public stockholder would have to determine
whether to exercise conversion rights. Accordingly, if it takes longer than we anticipate for stockholders to deliver their shares,
stockholders who wish to convert may be unable to meet the deadline for exercising their conversion rights and thus may be unable
to convert their shares.
If we require public stockholders
who wish to convert their shares of common stock to comply with the delivery requirements discussed above for conversion, such
converting stockholders may be unable to sell their securities when they wish to in the event that the proposed business combination
is not approved.
If we require public stockholders who
wish to convert their shares of common stock to comply with the delivery requirements discussed above for conversion and such proposed
business combination is not consummated, we will promptly return such certificates to the tendering public stockholders. Accordingly,
investors who attempted to convert their shares in such a circumstance will be unable to sell their securities after the failed
business combination until we have returned their securities to them. The market price for our shares of common stock may decline
during this time and you may not be able to sell your securities when you wish to, even while other stockholders that did not seek
conversion may be able to sell their securities.
Because of our structure, other
companies may have a competitive advantage and we may not be able to consummate an attractive business combination.
We expect to encounter intense competition
from entities other than blank check companies having a business objective similar to ours, including venture capital funds, leveraged
buyout funds and operating businesses competing for acquisitions. Many of these entities are well established and have extensive
experience in identifying and effecting business combinations directly or through affiliates. Many of these competitors possess
greater technical, human and other resources than we do and our financial resources will be relatively limited when contrasted
with those of many of these competitors. Therefore, our ability to compete in consummating our initial business combination with
certain sizable target businesses may be limited by our available financial resources. This inherent competitive limitation gives
others an advantage in pursuing a business combination with certain target businesses. Furthermore, seeking stockholder approval
of our initial business combination may delay the consummation of a transaction. Additionally, our rights and the future dilution
they represent, may not be viewed favorably by certain target businesses. Any of the foregoing may place us at a competitive disadvantage
in successfully negotiating our initial business combination.
Our ability to consummate an attractive
business combination may be impacted by the market for initial public offerings.
Our efforts to identify a prospective
target business will not be limited to a particular industry or geographic region, although the Company intends to focus on operating
businesses in TMT sectors in Asia. If the market for initial public offerings is limited, we believe there will be a greater number
of attractive target businesses open to consummating an initial business combination with us as a means to achieve publicly held
status. Alternatively, if the market for initial public offerings is robust, we believe that there will be fewer attractive target
businesses amenable to consummating an initial business combination with us to become a public reporting company. Accordingly,
during periods with strong public offering markets, it may be more difficult for us to complete an initial business combination.
Our search for a business combination,
and any target business with which we ultimately consummate a business combination, may be materially adversely affected by the
recent coronavirus (COVID-19) outbreak.
COVID-19 or the significant outbreak
of another infectious disease could result in a widespread health crisis that could adversely affect the economies and financial
markets worldwide, and the business of any potential target business with which we consummate a business combination could be
materially and adversely affected. Furthermore, we may be unable to complete a business combination if continued concerns relating
to COVID-19 restrict travel, 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.
30
We may face risks related
to businesses in the TMT industries.
Business combinations with businesses
in the TMT industries entail special considerations and risks. If we are successful in completing a business combination with
such a target business, we may be subject to, and possibly adversely affected by, the following risks after the business combination:
●
we may invest in new
                                         lines of business that could fail to attract or retain users or generate revenue;
●
we will face significant competition and if we are not able to maintain
                         or improve our market share, our business could suffer;
●
the loss of one or more members of our team, or our failure to attract
                         and retain other highly qualified personnel in the future, could seriously harm our business;
●
if our security is compromised or if our platform is subjected to
                         attacks that frustrate or thwart our users' ability to access our products and services, our users,
                         advertisers, and partners may cut back on or stop using our products and services altogether, which could
                         seriously harm our business;
●
mobile malware, viruses, hacking and phishing attacks, spamming, and
                         improper or illegal use of our products could seriously harm our business and reputation;
●
if we are unable to successfully grow our user base and further monetize
                         our products, our business will suffer;
●
if we are unable to protect our intellectual property, the value of
                         our brand and other intangible assets may be diminished, and our business may be seriously harmed;
●
we may be subject to regulatory investigations and proceedings in
                         the future, which could cause us to incur substantial costs or require us to change our business practices
                         in a way that could seriously harm our business;
●
an inability to manage rapid change, increasing consumer expectations
                         and growth;
●
an inability to build strong brand identity and improve subscriber
                         or customer satisfaction and loyalty;
●
an inability to deal with subscribers' or customers' privacy
                         concerns;
●
an inability to license or enforce intellectual property rights on
                         which our business may depend;
●
an inability by us, or a refusal by third parties, to license content
                         to us upon acceptable terms;
●
potential liability for negligence, copyright, or trademark infringement
                         or other claims based on the nature and content of materials that we may distribute;
●
competition for the media and entertainment time and discretionary
                         spending of subscribers or customers, which may intensify in part due to advances in technology and changes
                         in consumer expectations and behavior; and
●
disruption or failure of our networks, systems or technology as a
                         result of misappropriation of data or other malfeasance, as well as outages, natural disasters, terrorist
                         attacks, accidental releases of information or similar events.
Any of the foregoing could have
an adverse impact on our operations following a business combination. However, our efforts in identifying prospective target businesses
will not be limited to the TMT industries. Accordingly, if we acquire a target business in another industry, these risks we will
be subject to risks attendant with the specific industry in which we operate or target business which we acquire, which may or
may not be different than those risks listed above.
31
We may be unable to obtain additional
financing, if required, to complete our initial business combination or to fund the operations and growth of the target business,
which could compel us to restructure or abandon a particular business combination.
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, the capital requirements for any particular transaction remain to be determined. 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 other reasons, we will be required to seek additional financing. Such financing may not be available
on acceptable terms, if at all. To the extent that additional financing proves to be unavailable when needed to consummate a particular
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, if we consummate a business combination, we may require additional
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 initial business combination.
Our insiders will control a substantial
interest in us and thus may influence certain actions requiring a stockholder vote.
Upon consummation of our offering and
sale of the private units, our insiders will collectively beneficially own approximately 20% of our issued and outstanding shares
of common stock (not including the private units and underlying securities and assuming our insiders do not purchase any units
in this offering). None of our insiders director nominees or their affiliates has committed to purchase units in this offering
or any units or shares from persons in the open market or in private transactions. However, our insiders or their affiliates could
determine in the future to make such purchases in the open market or in private transactions, to the extent permitted by law, in
order to influence the vote. In connection with any vote for a proposed business combination, our insiders have agreed to vote
the shares of common stock owned by them immediately before this offering as well as the private shares and any shares of common
stock acquired in this offering or in the aftermarket in favor of such proposed business combination, and therefore will have a
significant influence on the vote.
We may not hold an annual meeting
of stockholders until after the consummation of our initial business combination.
In accordance with 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 Delaware General Corporation Law, 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. It is unlikely that there will be 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 Delaware
General Corporation Law, 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 Delaware General Corporation Law.
Our insiders paid an aggregate
of $25,000, or approximately $0.017 per share, for the insider shares, and, accordingly, you will experience immediate and substantial
dilution from the purchase of our shares of common stock.
The difference between the public offering
price per share and the pro forma net tangible book value per share of common stock after this offering constitutes the dilution
to the investors in this offering. Our insiders acquired the insider shares for $0.017 per share, significantly contributing to
this dilution. Upon consummation of this offering, you and the other new investors will incur an immediate and substantial dilution
of approximately 78.8% or $7.16 per share (the difference between the pro forma net tangible book value per share
of $1.93, and the initial offering price of $9.09 per share (including the shares of common stock issuable upon
conversion of rights), taking into account that the net tangible book value per share prior to this offering was $(0.04). This
is because investors in this offering will be contributing approximately 96.0% of the total amount paid to us for our outstanding
shares of common stock after this offering but will own approximately 78.6% of our outstanding shares of common stock (including
the shares of common stock underlying the rights). Accordingly, the per-share purchase price you will be paying substantially
exceeds our per share net tangible book value.
32
If our insiders exercise their
registration rights, it may have an adverse effect on the market price of our shares of common stock and the existence of these
rights may make it more difficult to affect our initial business combination.
Our insiders are entitled to make a
demand that we register the resale of the insider shares at any time commencing three months prior to the date on which their shares
may be released from escrow. Additionally, the purchasers of the private units and our insiders, or their affiliates are entitled
to demand that we register the resale of the private units (and underlying securities) and any units (and underlying securities)
our insiders or their affiliates may be issued in payment of working capital loans made to us commencing on the date that we consummate
our initial business combination. The presence of these additional shares of common stock trading in the public market may have
an adverse effect on the market price of our securities. In addition, the existence of these rights may make it more difficult
to effectuate our initial business combination or increase the cost of consummating our initial business combination with the target
business, as the stockholders of the target business may be discouraged from entering into a business combination with us or will
request a higher price for their securities because of the potential effect the exercise of such rights may have on the trading
market for our shares of common stock.
We may enter into agreements with
consultants or financial advisers that provide for the payment of fees upon the consummation of our initial business combination,
and, therefore, such consultants or financial advisers may have conflicts of interest.
We may enter into agreements with consultants
or financial advisers that provide for the payment of fees upon the consummation of our initial business combination. If we pay
consultants or financial advisers fees that are tied to the consummation of our initial business combination, they may have conflicts
of interest when providing services to us, and their interests in such fees may influence their advice with respect to a potential
business combination. For example, if a consultant's or financial advisor's fee is based on the size of the transaction, then they
may be influenced to present us with larger transactions that may have lower growth opportunities or long-term value versus smaller
transactions that may have greater growth opportunities or provide greater value to our stockholders. Similarly, consultants whose
fees are based on consummation of a business combination may be influenced to present potential business combinations to us regardless
of whether they provide longer-term value for our stockholders. While we will endeavor to structure agreements with consultants
and financial advisors to minimize the possibility and extent of these conflicts of interest, we cannot assure you that we will
be able to do so and that we will not be impacted by the adverse influences they create.
If we are deemed to be an investment
company, 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 initial business combination.
If we are deemed to be an investment
company under the Investment Company Act, our activities may be restricted, including:
●
restrictions on the nature of our investments; and
●
restrictions on the issuance of securities,
each of which may make it difficult
for us to complete our business combination.
In addition, we may have imposed upon
us certain burdensome requirements, including:
●
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. To this end, the proceeds held in the trust account may only
be invested in United States "government securities" within the meaning of Section 2(a)(16) of the Investment Company
Act having a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 promulgated
under the Investment Company Act which invest only in direct U.S. government treasury obligations. Pursuant to the trust agreement,
the trustee is not permitted to invest in other securities or assets. By restricting the investment of the proceeds to these instruments,
and by having a business plan targeted at acquiring and growing businesses for the long term (rather than on buying and selling
businesses in the manner of a merchant bank or private equity fund), we intend to avoid being deemed an "investment company"
within the meaning of the Investment Company Act. This offering is not intended for persons who are seeking a return on investments
in government securities or investment securities. The trust account is intended as a holding place for funds pending the earlier
to occur of either: (i) the completion of our primary business objective, which is a business combination; or (ii) absent a business
combination, our return of the funds held in the trust account to our public stockholders as part of our redemption of the public
shares. If we do not invest the proceeds as discussed above, we may be deemed to be subject to 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 complete 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.
33
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 rights were negotiated
between us and the underwriters. In determining the size of this offering, management held customary organizational meetings with
the representative 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 rights underlying the units, include:
●
the history of other similarly structured blank check companies;
●
prior offerings of those companies;
●
our prospects for consummating an initial business combination with an operating business at attractive values;
●
our capital structure;
●
securities exchange listing requirements;
●
market demand;
●
expected liquidity of our securities;
●
general conditions of the securities markets at the time of the offering; and
●
other factors as were deemed relevant.
However, although these factors were
considered, the determination of our offering price is more arbitrary than the pricing of securities for an operating company in
a particular industry since we have no historical operations or financial results to compare them to.
The requirement that we complete
our initial business combination within 9 months from the closing of this offering (or 12 or 15 months if we have extended the
period of time as described in this prospectus) may give potential target businesses leverage over us in negotiating our initial
business combination.
We have 9 months from the closing of
this offering to complete our initial business combination (or 12 or 15 months if we have extended the period of time as described
in this prospectus). Any potential target business with which we enter into negotiations concerning a business combination will
be aware of this requirement. Consequently, such target business may obtain leverage over us in negotiating a business combination,
knowing that if we do not complete a business combination with that particular target business, we may be unable to complete a
business combination with any other target business. This risk will increase as we get closer to the time limit referenced above.
We may not obtain a fairness opinion
with respect to the target business that we seek to consummate our initial business combination with and therefore you may be relying
solely on the judgment of our board of directors in approving a proposed business combination.
We will only be required to obtain a
fairness opinion with respect to the target business that we seek to consummate our initial business combination with if it is
an entity that is affiliated with any of our insiders. In all other instances, we will have no obligation to obtain an opinion.
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
34
Resources could be wasted in
researching business combinations 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.
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.
Compliance with the Sarbanes-Oxley
Act of 2002 will require substantial financial and management resources and may increase the time and costs of completing an initial
business combination.
Section 404 of the Sarbanes-Oxley Act
of 2002, or the Sarbanes-Oxley Act, requires that we evaluate and report on our system of internal control and may require that
we have such system of internal control audited. If we fail to maintain the adequacy of our internal control, we could be subject
to regulatory scrutiny, civil or criminal penalties and/or stockholder litigation. Any inability to provide reliable financial
reports could harm our business. Section 404 of the Sarbanes-Oxley Act also requires that our independent registered public accounting
firm report on management's evaluation of our system of internal control, although as an "emerging growth company" as
defined in the JOBS Act, we may take advantage of an exemption to this requirement. A target company may not be in compliance with
the provisions of the Sarbanes-Oxley Act regarding adequacy of their internal control. 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 initial business combination.
We are an emerging growth company
within the meaning of the Securities Act, and if we take advantage of certain exemptions from disclosure requirements available
to emerging growth companies, this could make our securities less attractive to investors and may make it more difficult to compare
our performance with other public companies.
The JOBS Act permits "emerging
growth companies" like us to take advantage of certain exemptions from various reporting requirements applicable to other
public companies that are not emerging growth companies. As long as we qualify as an emerging growth company, we would be permitted,
and we intend to, omit the auditor's attestation on internal control over financial reporting that would otherwise be required
by the Sarbanes-Oxley Act, as described above. We also intend to take advantage of the exemption provided under the JOBS Act from
the requirements to submit say-on-pay, say-on-frequency and say-on-golden parachute votes to our stockholders and we will avail
ourselves of reduced executive compensation disclosure that is already available to smaller reporting companies.
In addition, Section 107 of the JOBS
Act also provides that an emerging growth company can take advantage of the exemption from complying with new or revised accounting
standards provided in Section 7(a)(2)(B) of the Securities Act as long as we are an emerging growth company. An emerging growth
company can therefore delay the adoption of certain accounting standards until those standards would otherwise apply to private
companies. We have elected to take advantage of these benefits until we are no longer an emerging growth company or until we affirmatively
and irrevocably opt out of this exemption. Our financial statements may therefore not be comparable to those of companies that
comply with such new or revised accounting standards.
Following this offering, we will continue
to be an emerging growth company until the earliest to occur of (i) the last day of the fiscal year during which we had total annual
gross revenues of at least $1.07 billion (as indexed for inflation), (ii) the last day of the fiscal year following the fifth anniversary
of the date of the first sale of units under this registration statement, (iii) the date on which we have, during the previous
three-year period, issued more than $1 billion in non-convertible debt, or (iv) the date on which we are deemed to be a "large
accelerated filer," as defined under the Exchange Act.
Until such time that we lose "emerging
growth company" status, it is unclear if investors will find our securities less attractive because we may rely on these
exemptions. If some investors find our securities less attractive as a result, there may be a less active trading market for our
securities and our stock prices may be more volatile and could cause our stock prices to decline.
35
Provisions in our certificate
of incorporation and bylaws 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 certificate of incorporation contains
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 shares, 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.
Because we must furnish our stockholders
with target business financial statements prepared in accordance with U.S. generally accepted accounting principles or international
financial reporting standards, 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 in periodic reports. 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, or IFRS as issued by the International Accounting Standards Board or the IASB, 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. We will include the same financial statement disclosure
in connection with any tender offer documents we use, whether or not they are required under the tender offer rules. These financial
statement requirements may limit the pool of potential target businesses we may consummate our initial business combination with
because some targets may be unable to provide such statements in time for us to disclose such statements in accordance with federal
proxy rules and complete our initial business combination within the prescribed time frame.
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.
The securities in which we invest
the funds held in the trust account could bear a negative rate of interest, which could reduce the value of the assets held in
trust such that the per-share redemption amount received by public stockholder may be less than $10.00 per share.
The proceeds held in the trust account
will be held as cash or invested only in the U.S. government treasury bills with a maturity of 185 days or less or in money
market funds investing solely in U.S. Treasuries and meeting certain conditions under Rule 2a-7 under the Investment Company Act.
While short-term U.S. government treasury obligations currently yield a positive rate of interest, they have briefly yielded negative
interest rates in recent years. Central banks in Europe and Japan pursued interest rates below zero in recent years, and the Open
Market Committee of the Federal Reserve has not ruled out the possibility that it may in the future adopt similar policies in
the United States. In the event that we are unable to complete our initial business combination or make certain amendments to
our amended and restated certificate of incorporation, our public stockholder are entitled to receive their pro-rata share
of the proceeds held in the trust account, plus any interest income, net of taxes paid or payable (less, in the case we are unable
to complete our initial business combination, $100,000 of interest). Negative interest rates could reduce the value of the assets
held in trust such that the per-share redemption amount received by public stockholder may be less than $10.00 per share.
We are subject to changing law
and regulations regarding regulatory matters, corporate governance and public disclosure that have increased both our costs and
the risk of non-compliance.
We are subject to rules and regulations
by various governing bodies, including, for example, the SEC, which are charged with the protection of investors and the oversight
of companies whose securities are publicly traded, and to new and evolving regulatory measures under applicable law. Our efforts
to comply with new and changing laws and regulations have resulted in and are likely to continue to result in, increased general
and administrative expenses and a diversion of management time and attention from seeking a business combination target.
36
Moreover, because these laws, regulations
and standards are subject to varying interpretations, their application in practice may evolve over time as new guidance becomes
available. This evolution may result in continuing uncertainty regarding compliance matters and additional costs necessitated by
ongoing revisions to our disclosure and governance practices. If we fail to address and comply with these regulations and any subsequent
changes, we may be subject to penalty and our business may be harmed.
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 are no authorities addressing
the proper allocation of tax basis to the components of a unit, and therefore, investors may not appropriately allocate such basis
for U.S. federal income tax purposes.
No statutory, administrative or judicial
authority directly addresses the treatment of a unit or instruments similar to a unit for U.S. federal income tax purposes and,
therefore, that treatment is not entirely clear. We intend to treat the acquisition of a unit, for U.S. federal income tax purposes,
as the acquisition of one share of our common stock and one right to receive one- tenth (1/10) of a share of our common stock upon
the consummation of an initial business combination, and, by purchasing a unit, you 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 our common stock and one right to receive one- tenth (1/10) of a share of our common
stock upon the consummation of an initial business combination based on the relative fair market value of each at the time of issuance.
The price allocated should be the stockholder's tax basis in such share or right, 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 our share of our common stock and one right
to receive one- tenth (1/10) of a share of our common stock upon the consummation of an initial business combination comprising
the unit, and the amount realized on the disposition should be allocated between the common stock and the right based on their
respective relative fair market values at the time of disposition. The foregoing treatment of the unit and a holder's purchase
price allocation are not binding on the Internal Revenue Service, or "IRS", or the courts. The IRS or the courts may
not agree with such characterization and investors could suffer adverse U.S. federal income tax consequences as a result. Accordingly,
we urge each prospective investor to consult its own tax advisors regarding the tax consequences of an investment in a unit (including
alternative characterizations of a unit).
Redemptions of our common stock
pursuant to the redemption provisions described in this prospectus could give rise to dividend income (rather than gain on a sale
or exchange) in certain circumstances.
In the event that an investor's common
stock is redeemed pursuant to the redemption provisions described in this prospectus, 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 or is instead treated as
a dividend. Whether a redemption qualifies for sale treatment will depend largely on the total number of shares of our stock treated
as held by the investor (including any stock constructively owned by the investor as a result of owning rights or by attribution)
relative to all of our shares outstanding both before and after the redemption. If the redemption does not qualify for sale treatment,
all or a portion of such redemption could be treated as a taxable dividend to the extent of our current or accumulated earnings
and profits for tax purposes (which include earnings for the entire year of such payment, including after such payment is made).
Amounts treated as dividends to non-U.S. investors may be subject to withholding tax. Certain non-corporate U.S. investors may
be eligible for reduced rates of taxation upon dividends. The rules regarding the tax treatment of such redemptions are complex
and will depend on each investor's own circumstances. Each investor should consult with its own tax advisors as to the tax consequences
of a redemption.
Cyber incidents or attacks directed
at us could result in information theft, data corruption, operational disruption and/or financial loss.
We depend on digital technologies, including
information systems, infrastructure and cloud applications and services, including those of third parties with which we may deal.
Sophisticated and deliberate attacks on, or security breaches in, our systems or infrastructure, or the systems or infrastructure
of third parties or the cloud, could lead to corruption or misappropriation of our assets, proprietary information and sensitive
or confidential data. As an early stage company without significant investments in data security protection, we may not be sufficiently
protected against such occurrences. We may not have sufficient resources to adequately protect against, or to investigate and remediate
any vulnerability to, cyber incidents. It is possible that any of these occurrences, or a combination of them, could have adverse
consequences on our business and lead to financial loss.
37
RISKS ASSOCIATED WITH ACQUIRING AND
OPERATING A BUSINESS OUTSIDE OF THE UNITED STATES
If we effect our initial business
combination with a company located outside of the United States, we would be subject to a variety of additional risks that may
negatively impact our operations.
We may effect our initial business combination
with a company located outside of the United States. If we did, we would be subject to any special considerations or risks associated
with companies operating in the target business' home jurisdiction, including any of the following:
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rules and regulations or currency conversion or corporate withholding taxes on individuals;
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tariffs and trade barriers;
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regulations related to customs and import/export matters;
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longer payment cycles;
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tax issues, such as tax law changes and variations in tax laws as compared to the United States;
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currency fluctuations and exchange controls;
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challenges in collecting accounts receivable;
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cultural and language differences;
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employment regulations;
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crime, strikes, riots, civil disturbances, terrorist attacks and wars; and
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deterioration of political relations with the United States.
We may not be able to adequately address
these additional risks. If we are unable to do so, our operations may suffer.
If we effect our initial business
combination with a target business located outside of the United States, the laws applicable to such target business will likely
govern all of our material agreements and we may not be able to enforce our legal rights.
If we effect our initial business combination
with a target business located outside of the United States, the laws of the country in which such target business is domiciled
will govern almost all of the material agreements relating to its operations. The target business may not be able to enforce any
of its material agreements in such jurisdiction and appropriate remedies to enforce its rights under such material agreements may
not be available in this new jurisdiction. The system of laws and the enforcement of existing laws in such jurisdiction may not
be as certain in implementation and interpretation as in the United States. The inability to enforce or obtain a remedy under any
of our future agreements could result in a significant loss of business, business opportunities or capital. Additionally, if we
consummate our initial business combination with a company located outside of the United States, it is likely that substantially
all of our assets would be located outside of the United States and some of our officers and directors might reside outside of
the United States. As a result, it may not be possible for investors in the United States to enforce their legal rights, to effect
service of process upon our directors or officers or to enforce judgments of United States courts predicated upon civil liabilities
and criminal penalties of our directors and officers under federal securities laws of the United States.
Because of the costs and difficulties
inherent in managing cross-border business operations, our results of operations may be negatively impacted.
Managing a business, operations, personnel
or assets in another country is challenging and costly. Any management that we may have (whether based abroad or in the U.S.) may
be inexperienced in cross-border business practices and unaware of significant differences in accounting rules, legal regimes and
labor practices. Even with a seasoned and experienced management team, the costs and difficulties inherent in managing cross-border
business operations, personnel and assets can be significant (and much higher than in a purely domestic business) and may negatively
impact our financial and operational performance.
38
If social unrest, acts of terrorism,
regime changes, changes in laws and regulations, political upheaval, or policy changes or enactments occur in a country in which
we may operate after we effect our initial business combination, it may result in a negative impact on our business.
Political events in another country
may significantly affect our business, assets or operations. Social unrest, acts of terrorism, regime changes, changes in laws
and regulations, political upheaval, and policy changes or enactments could negatively impact our business in a particular country.
Many countries have difficult
and unpredictable legal systems and underdeveloped laws and regulations that are unclear and subject to corruption and inexperience,
which may adversely impact our results of operations and financial condition.
Our ability to seek and enforce legal
protections, including with respect to intellectual property and other property rights, or to defend ourselves with regard to legal
actions taken against us in a given country, may be difficult or impossible, which could adversely impact our operations, assets
or financial condition.
Rules and regulations in many countries
are often ambiguous or open to differing interpretation by responsible individuals and agencies at the municipal, state, regional
and federal levels. The attitudes and actions of such individuals and agencies are often difficult to predict and inconsistent.
Delay with respect to the enforcement
of particular rules and regulations, including those relating to customs, tax, environmental and labor, could cause serious disruption
to operations abroad and negatively impact our results.
If relations between the United
States and foreign governments deteriorate, it could cause potential target businesses or their goods and services to become less
attractive.
The relationship between the United
States and foreign governments could be subject to sudden fluctuation and periodic tension. For instance, the United States may
announce its intention to impose quotas on certain imports. Such import quotas may adversely affect political relations between
the two countries and result in retaliatory countermeasures by the foreign government in industries that may affect our ultimate
target business. Changes in political conditions in foreign countries and changes in the state of U.S. relations with such countries
are difficult to predict and could adversely affect our operations or cause potential target businesses or their goods and services
to become less attractive. Because we are not limited to any specific industry, there is no basis for investors in this offering
to evaluate the possible extent of any impact on our ultimate operations if relations are strained between the United States and
a foreign country in which we acquire a target business or move our principal manufacturing or service operations.
If any dividend is declared in
the future and paid in a foreign currency, you may be taxed on a larger amount in U.S.
If you are a U.S. holder of our ordinary
shares, you will be taxed on the U.S. dollar value of your dividends, if any, at the time you receive them, even if you actually
receive a smaller amount of U.S. dollars when the payment is in fact converted into U.S. dollars. Specifically, if a dividend is
declared and paid in a foreign currency, the amount of the dividend distribution that you must include in your income as a U.S.
holder will be the U.S. dollar value of the payments made in the foreign currency, determined at the spot rate of the foreign currency
to the U.S. dollar on the date the dividend distribution is includible in your income, regardless of whether the payment is in
fact converted into U.S. dollars. Thus, if the value of the foreign currency decreases before you actually convert the currency
into U.S. dollars, you will be taxed on a larger amount in U.S. dollars than the U.S. dollar amount that you will actually ultimately
receive.
After our initial business combination,
substantially all of our assets may be located in a foreign country and substantially all of our revenue may be derived from our
operations in such country. Accordingly, our results of operations and prospects will be subject, to a significant extent, to the
economic, political and legal policies, developments and conditions in the country in which we operate.
The economic, political and social conditions,
as well as government policies, of the country in which our operations are located could affect our business. The economy in Greater
China and other Asian Countries differs from the economies of most developed countries in many respects. Such economic growth has
been uneven, both geographically and among various sectors of the economy and such growth may not be sustained in the future. If
in the future such country's economy experiences a downturn or grows at a slower rate than expected, there may be less demand for
spending in certain industries. A decrease in demand for spending in certain industries could materially and adversely affect our
ability to find an attractive target business with which to consummate our initial business combination and if we effect our initial
business combination, the ability of that target business to become profitable.
39
Currency policies may cause a
target business' ability to succeed in the international markets to be diminished.
In the event we acquire a non-U.S. target,
all revenues and income would likely be received in a foreign currency, the dollar equivalent of our net assets and distributions,
if any, could be adversely affected by reductions in the value of the local currency. The value of the currencies in our target
regions fluctuate and are affected by, among other things, changes in political and economic conditions. Any change in the relative
value of such currency against our reporting currency may affect the attractiveness of any target business or, following consummation
of our initial business combination, our financial condition and results of operations. Additionally, if a currency appreciates
in value against the dollar prior to the consummation of our initial business combination, the cost of a target business as measured
in dollars will increase, which may make it less likely that we are able to consummate such transaction.
Many of the economies in Asia
are experiencing substantial inflationary pressures which may prompt the governments to take action to control the growth of the
economy and inflation that could lead to a significant decrease in our profitability following our initial business combination.
While many of the economies in Asia
have experienced rapid growth over the last two decades, they currently are experiencing inflationary pressures. As governments
take steps to address the current inflationary pressures, there may be significant changes in the availability of bank credits,
interest rates, limitations on loans, restrictions on currency conversions and foreign investment. There also may be imposition
of price controls. If prices for the products of our ultimate target business rise at a rate that is insufficient to compensate
for the rise in the costs of supplies, it may have an adverse effect on our profitability. If these or other similar restrictions
are imposed by a government to influence the economy, it may lead to a slowing of economic growth. Because we are not limited to
any specific industry, the ultimate industry that we operate in may be affected more severely by such a slowing of economic growth.
Many industries in Asia are subject
to government regulations that limit or prohibit foreign investments in such industries, which may limit the potential number of
acquisition candidates.
Governments in many Asian countries
have imposed regulations that limit foreign investors' equity ownership or prohibit foreign investments altogether in companies
that operate in certain industries. As a result, the number of potential acquisition candidates available to us may be limited
or our ability to grow and sustain the business, which we ultimately acquire will be limited.
If a country in Asia enacts regulations
in industry segments that forbid or restrict foreign investment, our ability to consummate our initial business combination could
be severely impaired.
Many of the rules and regulations that
companies face concerning foreign ownership are not explicitly communicated. If new laws or regulations forbid or limit foreign
investment in industries in which we want to complete our initial business combination, they could severely impair our candidate
pool of potential target businesses. Additionally, if the relevant central and local authorities find us or the target business
with which we ultimately complete our initial business combination to be in violation of any existing or future laws or regulations,
they would have broad discretion in dealing with such a violation, including, without limitation:
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levying fines;
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revoking our business and other licenses;
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requiring that we restructure our ownership or operations; and
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requiring that we discontinue any portion or all of our business.
Any of the above could have an adverse
effect on our company post-business combination and could materially reduce the value of your investment.
Corporate governance standards
in Asia may not be as strict or developed as in the United States and such weakness may hide issues and operational practices that
are detrimental to a target business.
General corporate governance standards
in some countries are weak in that they do not prevent business practices that cause unfavorable related party transactions, over-leveraging,
improper accounting, family company interconnectivity and poor management. Local laws often do not go far enough to prevent improper
business practices. Therefore, stockholders may not be treated impartially and equally as a result of poor management practices,
asset shifting, conglomerate structures that result in preferential treatment to some parts of the overall company, and cronyism.
The lack of transparency and ambiguity in the regulatory process also may result in inadequate credit evaluation and weakness
that may precipitate or encourage financial crisis. In our evaluation of a business combination we will have to evaluate the corporate
governance of a target and the business environment, and in accordance with United States laws for reporting companies take steps
to implement practices that will cause compliance with all applicable rules and accounting practices. Notwithstanding these intended
efforts, there may be endemic practices and local laws that could add risk to an investment we ultimately make and that result
in an adverse effect on our operations and financial results.
40
RISKS ASSOCIATED WITH ACQUIRING AND
OPERATING A TARGET BUSINESS WITH ITS PRIMARY OPERATION IN CHINA
As set forth herein, our efforts in
identifying a prospective target business will not be limited to a particular country, although we intend to focus on the Asia
TMT sector, and initially on companies with operations located primarily in the People's Republic of China ("PRC"). Accordingly,
in addition to the risk factors referred above, we have set forth some of the primary risks we have identified in seeking to consummate
our initial business combination with a company having its primary operations in the PRC.
As a result of merger and acquisition
regulations implemented on September 8, 2006 (amended on June 22, 2009) relating to acquisitions of assets and equity interests
of Chinese companies by foreign persons, it is expected that acquisitions will take longer and be subject to economic scrutiny
by the PRC government authorities such that we may not be able to complete a transaction.
On September 8, 2006, the Ministry of
Commerce, together with several other government agencies, promulgated the Regulations on Merger and Acquisition of Domestic Enterprises
by Foreign Investors (the "M&A Regulations", including its amendment on June 22, 2009), which implemented a comprehensive
set of regulations governing the approval process by which a Chinese company may participate in an acquisition of its assets or
its equity interests and by which a Chinese company may obtain public trading of its securities on a securities exchange outside
the PRC. Although there was a complex series of regulations in place prior to September 8, 2006 for approval of Chinese enterprises
that were administered by a combination of provincial and centralized agencies, the M&A Regulations have largely centralized
and expanded the approval process to the Ministry of Commerce, the State Administration of Industry and Commerce (SAIC), the State
Administration of Foreign Exchange (SAFE) or its branch offices, the State Asset Supervision and Administration Commission (SASAC),
and the China Securities Regulatory Commission (CSRC). Depending on the structure of the transaction, these M&A Regulations
will require the Chinese parties to make a series of applications and supplemental applications to one or more of the aforementioned
agencies, some of which must be made within strict time limits and depending on approvals from one or the other of the aforementioned
agencies. The application process has been supplemented to require the presentation of economic data concerning a transaction,
including appraisals of the business to be acquired and evaluations of the acquirer which will permit the government to assess
the economics of a transaction in addition to the compliance with legal requirements. If obtained, approvals will have expiration
dates by which a transaction must be completed. Also, completed transactions must be reported to the Ministry of Commerce and some
of the other agencies within a short period after closing or be subject to an unwinding of the transaction. Therefore, acquisitions
in China may not be able to be completed because the terms of the transaction may not satisfy aspects of the approval process and
may not be completed, even if approved, if they are not consummated within the time permitted by the approvals granted.
Compliance with the PRC Antitrust
law may limit our ability to effect our initial business combination.
The PRC Antitrust Law became effective
on August 1, 2008. The government authorities in charge of antitrust matters in China are the Antitrust Commission and other antitrust
authorities under the State Council. The PRC Antitrust Law regulates (1) monopoly agreements, including decisions or actions in
concert that preclude or impede competition, entered into by business operators; (2) abuse of dominant market position by business
operators; and (3) concentration of business operators that may have the effect of precluding or impeding competition. To implement
the Antitrust Law, in 2008, the State Council formulated the regulations that require filing of concentration of business operators,
pursuant to which concentration of business operators refers to (1) merger with other business operators; (2) gaining control
over other business operators through acquisition of equity interest or assets of other business operators; and (3) gaining control
over other business operators through exerting influence on other business operators through contracts or other means. In 2009,
the Ministry of Commerce, to which the Antitrust Commission is affiliated, promulgated the Measures for Filing of Concentration
of Business Operators (amended by the Guidelines for Filing of Concentration of Business Operators in 2014), which set forth the
criteria of concentration and the requirement of miscellaneous documents for the purpose of filing. The business combination we
contemplate may be considered the concentration of business operators, and to the extent required by the Antitrust Law and the
criteria established by the State Council, we must file with the antitrust authority under the PRC State Council prior to conducting
the contemplated business combination. If the antitrust authority decides not to further investigate whether the contemplated
business combination has the effect of precluding or impeding competition or fails to make a decision within 30 days from receipt
of relevant materials, we may proceed to consummate the contemplated business combination. If antitrust authority decides to prohibit
the contemplated business combination after further investigation, we must terminate such business combination and would then
be forced to either attempt to complete a new business combination if it was prior to 15 wait months from the closing of this
offering or we would be required to return any amounts which were held in the trust account to our stockholders. When we
evaluate a potential business combination, we will consider the need to comply with the Antitrust Law and other relevant regulations
which may limit our ability to effect an acquisition or may result in our modifying or not pursuing a particular transaction.
41
If, due to restrictions on foreign
investment in a target business, we have to acquire the business through the use of contractual arrangements and the PRC government
determines that such contractual arrangements do not comply with foreign investment regulations, or if these regulations or the
interpretation of existing regulations in the PRC change or new restrictive or prohibitive regulations come into force in the future,
we could be subject to significant penalties or be forced to relinquish our interests in those operations.
Because of the above-mentioned industrial
restrictions, foreign investors often acquire control of PRC business through the use of contractual arrangements pursuant to which
they effectively control the PRC business. There are uncertainties as to whether such contractual arrangements comply with the
regulations prohibiting or restricting foreign ownership in certain industries. In addition, even if such arrangements are not
in violation of current regulations, such regulations are subject to change in the future and may be broadened to further restrict
foreign investments in new industries or new category of assets.
If we or any of our potential future
target businesses are found to be in violation of any existing or future local laws or regulations with respect to foreign investment
in local entities (for example, if we are deemed to be holding equity interests in certain of our affiliated entities in which
direct foreign ownership is prohibited), the relevant regulatory authorities might have the discretion to:
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revoke the business and operating licenses of the potential future target business;
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confiscate relevant income and impose fines and other penalties;
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discontinue or restrict the operations of the potential future target business;
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require us or potential future target business to restructure the relevant ownership structure or operations;
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restrict or prohibit our use of the proceeds of this offering to finance the target businesses and its operations;
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impose conditions or requirements with which we or potential future target business may not be able to comply; or
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require us to discontinue a portion or all of our business.
The imposition of any of the above penalties
could result in a material and adverse effect on our ability to conduct our business as well as our financial situation and we
might be forced to relinquish our interests in operations.
If we have to acquire a target
business through contractual arrangements with, or which results in, one or more operating businesses in China, such contracts
may not be as effective in providing operational control as direct ownership of such businesses.
The government of the PRC has restricted
or limited foreign ownership of certain kinds of assets and companies operating in certain industries. The industry groups that
are restricted are wide ranging, including certain aspects of telecommunications, advertising, food production and heavy equipment
manufacturers, for example. In addition, there can be restrictions on the foreign ownership of businesses that are determined from
time to time to be in "important industries" that may affect the national economic security or having "famous Chinese
brand names" or "well established Chinese brand names." Subject to the review and approval requirements of the Ministry
of Commerce and other relevant agencies as discussed elsewhere for acquisitions of assets and companies in the PRC and subject
to the various percentage ownership limitations that exist from time to time, acquisitions involving foreign investors and parties
in the various restricted categories of assets and industries may nonetheless sometimes be consummated using contractual arrangements
with permitted Chinese parties. To the extent such agreements are employed, they may be for control of specific assets such as
intellectual property or control of blocks of the equity ownership interests of a company which may provide exceptions to the merger
and acquisition regulations mentioned above since these types of arrangements typically do not involve a change of equity ownership
in PRC operating company. The agreements would be designed to provide our company with the economic benefits of and control over
the subject assets or equity interests similar to the rights of full ownership, while leaving the technical ownership in the hands
of Chinese parties who would be our nominees and, therefore, may exempt the transaction from the merger and acquisition regulations,
including the application process required thereunder. However, there has been limited implementation guidance provided with respect
to the merger and acquisition regulations. There can be no assurance the relevant government agencies would not apply them to a
business combination effected through contractual arrangements. If such an agency determines such an application should have made,
consequences may include levying fines, revoking business and other licenses, requiring restructure of ownership or operations
and requiring discontinuation of any portion of all of the acquired business. These agreements likely also would provide for increased
ownership or full ownership and control by us when and if permitted under PRC law and regulation. If we choose to effect our initial
business combination that employs the use of these types of control arrangements, we may have difficulty in enforcing our rights.
Therefore, these contractual arrangements may not be as effective in providing us with the same economic benefits, accounting consolidation
or control over a target business as would direct ownership. For example, if the target business or any other entity fails to perform
its obligations under these contractual arrangements, we may have to incur substantial costs and expend substantial resources to
enforce such arrangements, and rely on legal remedies under Chinese law, including seeking specific performance or injunctive relief,
and claiming damages, which we cannot assure will be sufficient to off-set the cost of enforcement and may adversely affect the
benefits we expect to receive from the business combination.
42
Regulations relating to the transfer
of state-owned property rights in enterprises may increase the cost of our acquisitions and impose an additional administrative
burden on us.
The legislation governing the acquisition
of a China state-owned company contains stringent governmental regulations. The transfer of state-owned property rights in enterprises
must take place through a government approved "state-owned asset exchange," and the value of the transferred property
rights must be evaluated by those Chinese appraisal firms qualified to do "state-owned assets evaluation." The final
price must not be less than 90% of the appraisal price. Additionally, bidding/auction procedures are essential in the event that
there is more than one potential transferee. In the case of an acquisition by foreign investors of state-owned enterprises, the
acquirer and the seller must make a resettlement plan to properly resettle the employees, and the resettlement plan must be approved
by the Employees' Representative Congress. The seller must pay all unpaid wages and social welfare payments from the existing
assets of the target company to the employees. These regulations may adversely affect our ability to acquire a state-owned
business or assets.
Exchange controls that exist in
the PRC may restrict or prevent us from using the proceeds of this offering to acquire a target company in PRC and limit our ability
to utilize our cash flow effectively following our initial business combination.
SAFE promulgated the Notice of the State
Administration of Foreign Exchange on Reforming the Administration of Foreign Exchange Settlement of Capital of Foreign-invested
Enterprises, or Circular 19, effective on June 1, 2015, in replacement of the Circular on the Relevant Operating Issues Concerning
the Improvement of the Administration of the Payment and Settlement of Foreign Currency Capital of Foreign-Invested Enterprises,
or SAFE Circular 142, the Notice from the State Administration of Foreign Exchange on Relevant Issues Concerning Strengthening
the Administration of Foreign Exchange Businesses, or Circular 59, and the Circular on Further Clarification and Regulation of
the Issues Concerning the Administration of Certain Capital Account Foreign Exchange Businesses, or Circular 45. According to Circular
19, the flow and use of the RMB capital converted from foreign currency-denominated registered capital of a foreign-invested company
is regulated such that RMB capital may not be used for the issuance of RMB entrusted loans, the repayment of inter-enterprise loans
or the repayment of banks loans that have been transferred to a third party. Although Circular 19 allows RMB capital converted
from foreign currency-denominated registered capital of a foreign-invested enterprise to be used for equity investments within
the PRC, it also reiterates the principle that RMB converted from the foreign currency-denominated capital of a foreign-invested
company may not be directly or indirectly used for purposes beyond its business scope. Thus, it is unclear whether SAFE will permit
such capital to be used for equity investments in the PRC in actual practice. SAFE promulgated the Notice of the State Administration
of Foreign Exchange on Reforming and Standardizing the Foreign Exchange Settlement Management Policy of Capital Account, or Circular
16, effective on June 9, 2016, which reiterates some of the rules set forth in Circular 19, but changes the prohibition against
using RMB capital converted from foreign currency-denominated registered capital of a foreign-invested company to issue RMB entrusted
loans to a prohibition against using such capital to issue loans to non-associated enterprises. Violations of SAFE Circular 19
and Circular 16 could result in administrative penalties.
As such, Circular 19 and Circular 16
may significantly limit our ability to transfer the proceeds of this offering to a PRC target company and the use of such proceeds
by the PRC target company.
In addition, following our initial business
combination with a PRC target company, we will be subject to the PRC's rules and regulations on currency conversion. In the PRC,
the SAFE regulates the conversion of the Renminbi into foreign currencies. Currently, FIEs are required to apply to the SAFE for
"Foreign Exchange Registration Certificates for FIEs." Following our initial business combination, we will likely be
an FIE as a result of our ownership structure. With such registration certificates, which need to be renewed annually, FIEs are
allowed to open foreign currency accounts including a "basic account" and "capital account." Currency conversion
within the scope of the "basic account," such as remittance of foreign currencies for payment of dividends, can be effected
without requiring the approval of the SAFE. However, conversion of currency in the "capital account," including capital
items such as direct investment, loans and securities, still require approval of the SAFE.
We cannot assure you the PRC regulatory
authorities will not impose further restrictions on the convertibility of the Renminbi. Any future restrictions on currency exchanges
may limit our ability to use the proceeds of this offering in an initial business combination with a PRC target company and the
use our cash flow for the distribution of dividends to our stockholders or to fund operations we may have outside
of the PRC.
43
Our initial business combination
may be subject to national security review by the PRC government and we may have to spend additional resources and incur additional
time delays to complete any such business combination or be prevented from pursuing certain investment opportunities.
On February 3, 2011, the PRC government
issued a Notice Concerning the Establishment of Security Review Procedure on Mergers and Acquisitions of Domestic Enterprises by
Foreign Investors, or Security Review Regulations, which became effective on March 5, 2011. The Security Review Regulations cover
acquisitions by foreign investors of a broad range of PRC enterprises if such acquisitions could result in de facto control by
foreign investors and the enterprises are relating to military, national defense, important agriculture products, important energy
and natural resources, important infrastructures, important transportation services, key technologies and important equipment manufacturing.
The scope of the review includes whether the acquisition will impact the national security, economic and social stability, and
the research and development capabilities on key national security related technologies. Foreign investors should submit a security
review application to the Department of Commerce for its initial review for contemplated acquisition. If the acquisition is considered
to be within the scope of the Security Review Regulations, the Department of Commerce will transfer the application to a joint
security review committee within five business days for further review. The joint security review committee, consisting of members
from various PRC government agencies, will conduct a general review and seek comments from relevant government agencies. The joint
security review committee may initiate a further special review and request the termination or restructuring of the contemplated
acquisition if it determines that the acquisition will result in significant national security issue.
The Security Review Regulations will
potentially subject a large number of mergers and acquisitions transactions by foreign investors in China to an additional layer
of regulatory review. Currently, there is significant uncertainty as to the implication of the Security Review Regulations. Neither
the Department of Commerce nor other PRC government agencies have issued any detailed rules for the implementation of the Security
Review Regulations. If, for example, our potential initial business combination is with a target company operating in the PRC in
any of the sensitive sectors identified above, the transaction will be subject to the Security Review Regulations, and we may have
to spend additional resources and incur additional time delays to complete any such acquisition. We may also be prevented from
pursuing certain investment opportunities if the PRC government considers that the potential investments will result in a significant
national security issue.
In the event we successfully consummated
business combination with a target business with primary operation in PRC, we will be subject to restrictions on dividend payments
following consummation of our initial business combination.
After we consummate our initial business
combination, we may rely on dividends and other distributions from our operating company to provide us with cash flow and to meet
our other obligations. Current regulations in China would permit our operating company in China to pay dividends to us only out
of its accumulated distributable profits, if any, determined in accordance with Chinese accounting standards and regulations. In
addition, our operating company in China will be required to set aside at least 10% (up to an aggregate amount equal to half of
its registered capital) of its accumulated profits each year. Such cash reserve may not be distributed as cash dividends. In addition,
if our operating company in China incurs debt on its own behalf in the future, the instruments governing the debt may restrict
its ability to pay dividends or make other payments to us.
If we make equity compensation
grants to persons who are PRC citizens, they may be required to register with the State Administration of Foreign Exchange of the
PRC ("SAFE"). We may also face regulatory uncertainties that could restrict our ability to adopt equity compensation
plans for our directors and employees and other parties under PRC laws.
On April 6, 2007, SAFE issued the "Operating
Procedures for Administration of Domestic Individuals Participating in the Employee Stock Ownership Plan or Stock Option Plan of
An Overseas Listed Company, also known as "Circular 78." It is not clear whether Circular 78 covers all forms of equity
compensation plans or only those which provide for the granting of shares options. For any plans which are so covered and are adopted
by a non-PRC listed company, such as our company, after April 6, 2007, Circular 78 requires all participants who are PRC citizens
to register with and obtain approvals from SAFE prior to their participation in the plan. In addition, Circular 78 also requires
PRC citizens to register with SAFE and make the necessary applications and filings if they participated in an overseas listed company's
covered equity compensation plan prior to April 6, 2007. We believe that the registration and approval requirements contemplated
in Circular 78 will be burdensome and time consuming.
Upon consummation of business combination
with a target business with primary operations in PRC, we may adopt an equity incentive plan and make shares option grants under
the plan to our officers, directors and employees, whom may be PRC citizens and be required to register with SAFE. If it is determined
that any of our equity compensation plans are subject to Circular 78, failure to comply with such provisions may subject us and
participants of our equity incentive plan who are PRC citizens to fines and legal sanctions and prevent us from being able to grant
equity compensation to our PRC employees. In that case, our ability to compensate our employees and directors through equity compensation
would be hindered and our business operations may be adversely affected.
44
Enhanced scrutiny over acquisition
transactions by the PRC tax authorities may have a negative impact on potential acquisitions we may pursue in the future.
The PRC tax authorities have enhanced
their scrutiny over the direct or indirect transfer of certain taxable assets, including, in particular, equity interests in a
PRC resident enterprise, by a non-resident enterprise by promulgating and implementing SAT Circular 59 and Circular 698, which
became effective in January 2008, and a Circular 7 in replacement of some of the existing rules in Circular 698, which became effective
in February 2015.
Under Circular 698, where a non-resident
enterprise conducts an "indirect transfer" by transferring the equity interests of a PRC "resident enterprise"
indirectly by disposing of the equity interests of an overseas holding company, the non-resident enterprise, being the transferor,
may be subject to PRC corporate income tax, if the indirect transfer is considered to be an abusive use of company structure without
reasonable commercial purposes. As a result, gains derived from such indirect transfer may be subject to PRC tax at a rate of up
to 10%. Circular 698 also provides that, where a non-PRC resident enterprise transfers its equity interests in a PRC resident enterprise
to its related parties at a price lower than the fair market value, the relevant tax authority has the power to make a reasonable
adjustment to the taxable income of the transaction.
In February 2015, the SAT issued Circular
7 to replace the rules relating to indirect transfers in Circular 698. Circular 7 has introduced a new tax regime that is significantly
different from that under Circular 698. Circular 7 extends its tax jurisdiction to not only indirect transfers set forth under
Circular 698 but also transactions involving transfer of other taxable assets, through the offshore transfer of a foreign intermediate
holding company. In addition, Circular 7 provides clearer criteria than Circular 698 on how to assess reasonable commercial purposes
and has introduced safe harbors for internal group restructurings and the purchase and sale of equity through a public securities
market. Circular 7 also brings challenges to both the foreign transferor and transferee (or other person who is obligated to pay
for the transfer) of the taxable assets. Where a non-resident enterprise conducts an "indirect transfer" by transferring
the taxable assets indirectly by disposing of the equity interests of an overseas holding company, the non-resident enterprise
being the transferor, or the transferee, or the PRC entity which directly owned the taxable assets may report to the relevant tax
authority such indirect transfer. Using a "substance over form" principle, the PRC tax authority may disregard the existence
of the overseas holding company if it lacks a reasonable commercial purpose and was established for the purpose of reducing, avoiding
or deferring PRC tax. As a result, gains derived from such indirect transfer may be subject to PRC corporate income tax, and the
transferee or other person who is obligated to pay for the transfer is obligated to withhold the applicable taxes, currently at
a rate of 10% for the transfer of equity interests in a PRC resident enterprise.
We face uncertainties on the reporting
and consequences on future private equity financing transactions, share exchange or other transactions involving the transfer of
shares in our company by investors that are non-PRC resident enterprises. The PRC tax authorities may pursue such non-resident
enterprises with respect to a filing or the transferees with respect to withholding obligation, and request our PRC subsidiaries
to assist in the filing. As a result, we and non-resident enterprises in such transactions may become at risk of being subject
to filing obligations or being taxed, under Circular 59 or Circular 698 and Circular 7, and may be required to expend valuable
resources to comply with Circular 59, Circular 698 and Circular 7 or to establish that we and our non-resident enterprises should
not be taxed under these circulars, which may have a material adverse effect on our financial condition and results of operations.
The PRC tax authorities have the discretion
under SAT Circular 59, Circular 698 and Circular 7 to make adjustments to the taxable capital gains based on the difference between
the fair value of the taxable assets transferred and the cost of investment. Although we currently have no plans to pursue any
acquisitions in China or elsewhere in the world, we may pursue acquisitions in the future that may involve complex corporate structures.
If we are considered a non-resident enterprise under the PRC corporate income tax law and if the PRC tax authorities make adjustments
to the taxable income of the transactions under SAT Circular 59 or Circular 698 and Circular 7, our income tax costs associated
with such potential acquisitions will be increased, which may have an adverse effect on our financial condition and results of
operations.
45
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS
The statements contained in this prospectus
that are not purely historical are forward-looking statements. Our forward-looking statements include, but are not limited to,
statements regarding our or our management'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," "intend," "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 complete our initial business combination;
●
success in retaining or recruiting, or changes required in, our officers, key employees or directors following our initial business combination;
●
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;
●
potential ability to obtain additional financing to complete our initial business combination;
●
pool of prospective target businesses;
●
the ability of our officers and directors to generate a number of potential investment opportunities;
●
potential change in control if we acquire one or more target businesses for stock;
●
the potential liquidity and trading of our securities;
●
the lack of a market for our securities;
●
use of proceeds not held in the trust account or available to us from interest income on the trust account balance; or
●
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. Future developments affecting us may not 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.
46
USE OF PROCEEDS
We estimate that the net proceeds of
this offering, in addition to the funds we will receive from the sale of the private units, will be used as set forth in the following
table:
Without
Over-Allotment
Option
Over-Allotment
Option Exercised
Gross proceeds
From offering
$
50,000,000
$
57,500,000
From sale of private units
2,050,000
2,200,000
Total gross proceeds
52,050,000
59,700,000
Offering expenses
(1)
Non-contingent underwriting discount (2% of gross proceeds from offering)
1,000,000
(2)
1,150,000
(2)
Initial trustee fee
6,500
6,500
Legal fees and expenses
300,000
300,000
Nasdaq listing fee
55,000
55,000
Printing and engraving expenses
45,000
45,000
Accounting fees and expenses
40,000
40,000
SEC registration fee
6,932
6,932
FINRA registration fee
10,031
10,031
Miscellaneous
36,537
36,537
Total offering expenses (not including the deferred underwriting discount)
1,500,000
(3)
1,650,000
(3)
Held in the trust account
(4)
$
50,000,000
$
57,500,000
Not held in the trust account
(5)
$
550,000
$
550,000
Use of net proceeds not held in the
trust account
(5)
Amount
% of Total
Legal, accounting and other third-party expenses attendant to the search for target businesses and to the due diligence investigation, structuring and negotiation of our initial business combination
$
200,000
36.36
%
Due diligence of prospective target businesses by insiders
$
70,000
12.73
%
Legal and accounting fees relating to SEC reporting obligations
$
40,000
7.27
%
Consulting, travel and miscellaneous expenses incurred during search for initial business combination target
$
70,000
12.73
%
Working capital to cover miscellaneous expenses, including D&O insurance
$
170,000
(5)
30.91
%
Total
$
550,000
100.00
%
(1)
The offering expenses relate to all expenses associated with the offering. However, a portion of the offering expenses, including the SEC registration fee, the FINRA filing fee, the non-refundable portion of the Nasdaq listing fee and a portion of the legal and audit fees, have already been paid from the funds we received as loans from our insiders described below. Therefore, these loans will be repaid using the proceeds of the offering since they were used to pay the offering costs described in the Use of Proceeds table.
(2)
No discounts or commissions will be paid with respect to the purchase of the private units.
(3)
Does not include the deferred underwriting commission in cash payable to Chardan Capital Markets, LLC in an amount equal to 3.0% of the total gross proceeds raised in the offering ($1,500,000, or $1,725,000 if the underwriter's over-allotment option is exercised in full).
(4)
The funds held in the trust account may, but need not, be used to pay our expenses relating to completing our initial business combination. Such funds held in the trust account include a deferred underwriting commission payable to Chardan Capital Markets, LLC in an amount equal to 3.0% of the total gross proceeds raised in the offering ($1,500,000, or $1,725,000 if the underwriter's over-allotment option is exercised in full).
(5)
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 our initial business combination based upon the level of complexity of that business combination. We do not anticipate any change in the categories of our intended use of proceeds.
SPK Acquisition LLC has committed to
purchase the private units for an aggregate purchase price of $2,050,000 (or $2,200,000 if the over-allotment option is exercised
in full) from us on a private placement basis simultaneously with the consummation of this offering. All of the proceeds we receive
from these purchases will be placed in the trust account described below.
47
$50,000,000, or $57,500,000 if the
over-allotment option is exercised in full, of net proceeds of this offering and the sale of the private units will be placed
in a trust account in the United States at JPMorgan Chase Bank, maintained by Continental Stock Transfer & Trust Company,
as trustee. The funds held in the trust account will be invested only in United States government treasury bills, bonds or notes
having a maturity of 185 days or less, or in money market funds meeting the applicable conditions under Rule 2a-7 promulgated
under the Investment Company Act of 1940 and that invest solely in U.S. treasuries, so that we are not deemed to be an investment
company under the Investment Company Act. Except with respect to interest earned on the funds held in the trust account that may
be released to us to pay our income or other tax obligations, the proceeds will not be released from the trust account until the
earlier of the completion of our initial business combination or our redemption of 100% of the outstanding public shares if we
have not completed a business combination in the required time period. The proceeds held in the trust account may be used as consideration
to pay the sellers of a target business with which we complete our initial business combination to the extent not used to pay
converting stockholders. Any amounts not paid as consideration to the sellers of the target business may be used to finance operations
of the target business.
No compensation of any kind (including
finder's fees, consulting fees or other similar compensation) will be paid to our insiders, members of our management team or any
of our or their respective affiliates, for services rendered to us prior to or in connection with the consummation of our initial
business combination (regardless of the type of transaction that it is). However, such individuals will receive reimbursement for
any out-of-pocket expenses incurred by them in connection with activities on our behalf, such as identifying potential target businesses,
performing business due diligence on suitable target businesses and business combinations, as well as traveling to and from the
offices, plants or similar locations of prospective target businesses to examine their operations. Since the role of present management
after our initial business combination is uncertain, we have no ability to determine what remuneration, if any, will be paid to
those persons after our initial business combination.
The net proceeds from this offering
available to us out of trust for our working capital requirements in searching for our initial business combination will be approximately
$550,000.
The allocation of the net proceeds available
to us outside of the trust account represents our best estimate of the intended uses of these funds. In the event that our assumptions
prove to be inaccurate, we may reallocate some of such proceeds within the above described categories. If our estimate of the costs
of undertaking due diligence and negotiating our initial 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. In this
event, we could seek such additional capital through loans or additional investments from our insiders, members of our management
team or third parties, but our insiders, members of our management team or third parties are not under any obligation to advance
funds to, or invest in, us.
We will likely use substantially all
of the net proceeds of this offering, including the funds held in the trust account, in connection with our initial business combination
and to pay our expenses relating thereto, including the deferred underwriting commission payable to Chardan Capital Markets, LLC
in an amount equal to 3.0% of the total gross proceeds raised in the offering upon consummation of our initial business combination.
To the extent that our capital stock is used in whole or in part as consideration to effect our initial business combination, the
proceeds held in the trust account which are not used to consummate a business combination will be disbursed to the combined company
and will, along with any other net proceeds not expended, be used as working capital to finance the operations of the target business.
Such working capital funds could be used in a variety of ways, including continuing or expanding the target business' operations,
for strategic acquisitions and for marketing, research and development of existing or new products.
To the extent we are unable to consummate
a business combination, we will pay the costs of liquidation from our remaining assets outside of the trust account. If such funds
are insufficient, our insiders have agreed to pay the funds necessary to complete such liquidation (currently anticipated to be
no more than $15,000) and have agreed not to seek repayment of such expenses.
We believe that, upon consummation of
this offering, we will have sufficient available funds to operate for up to the next 9 months (or 12 or 15 months if our time to
complete a business combination is extended as described herein), assuming that our initial business combination is not consummated
during that time. However, if necessary, in order to meet our working capital needs following the consummation of this offering,
our insiders 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 lender's discretion, up to $1,500,000 of the notes may be converted
upon consummation of our business combination into additional private units at a price of $10 per unit. Our stockholders have approved
the issuance of the private units upon conversion of such notes, to the extent the holder wishes to so convert such notes at the
time of the consummation of our initial business combination. If we do not complete a business combination, any loans and advances
from our insiders or their affiliates, will be repaid only from amounts remaining outside our trust account, if any.
A public stockholder will be entitled
to receive funds from the trust account only in the event of (1) our redemption of 100% of the outstanding public shares if we
have not completed a business combination in the required time period, (2) if that public stockholder elects to convert public
shares in connection with a stockholder vote or (3) if that public stockholder sells shares to us in any tender offer in connection
with a proposed business combination. In no other circumstances will a public stockholder have any right or interest of any kind
to or in the trust account.
48
DIVIDEND POLICY
We have not paid any cash dividends
on our shares of 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 subsequent to the completion of our initial business combination 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 dividends subsequent to our initial business combination will be within the discretion of our board of directors
at such time. It is the present intention of our board of directors to retain all earnings, if any, for use in our business operations
and, accordingly, our board of directors does not anticipate declaring any dividends in the foreseeable future. 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, including pursuant to Rule 462(b) under the Securities Act, in which case we will
effect a stock dividend immediately prior to the consummation of the offering in such amount as to maintain our insiders' ownership
at an aggregate of 20.0% of our issued and outstanding shares of our common stock upon the consummation of this offering (not including
the private units and underlying securities and assuming our insiders do not purchase units in this offering). Further, if we incur
any indebtedness in connection with our initial business combination, our ability to declare dividends may be limited by restrictive
covenants we may agree to in connection therewith.
49
DILUTION
The difference between the public offering
price per share and the pro forma net tangible book value per share after this offering constitutes the dilution to investors in
this offering. 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 shares of common stock which may be converted into cash), by the number of
outstanding shares of common stock.
At February 10, 2021, our net tangible book value
was $(63,125) or approximately $(0.04) per share. For purposes of the dilution calculation, in order to present the maximum estimated
dilution as a result of this offering, we have assumed (i) the issuance of 0.10 of a share for each right outstanding, as such issuance
will occur upon a business combination without the payment of additional consideration, (ii) the number of shares included in the units
offered hereby will be deemed to be 5,500,000 (consisting of 5,000,000 shares included in the units we are offering by this prospectus
and 500,000 shares for the outstanding rights),(iii) the issuance of private placement units deemed to be 225,500 (consisting of 205,000
shares included in the private placement and 20,500 for the outstanding rights) and the price per share in this offering will be deemed
to be $9.09. Founders shares are assumed to be 1,250,000 (or 1,437,500 if the underwriters exercise their over-allotment option
in full) reflecting the forfeiture of 187,500 shares should the underwriters not exercise their over-allotment option in full. After
giving effect to the sale of 5,000,000 (or 5,750,000 if the underwriters exercise their over-allotment option in full) shares of common
stock included in the units we are offering by this prospectus, and the deduction of underwriting discounts and estimated expenses of
this offering, and the sale of the private units, our pro forma net tangible book value at February 10, 2021 would have been $5,000,005
or $1.93 per share (or $1.73 per share if the underwriters exercise their over-allotment option in full), representing
an immediate increase in net tangible book value of $1.97 (or $1.77 if the underwriters exercise their over-allotment option
in full) per share to our insiders and an immediate dilution of $7.16 (or $7.36 if the underwriters exercise their over-allotment
option in full) per share or 78.8% (or 80.9% if the underwriters exercise their over-allotment option in full) to new investors
not exercising their conversion rights.
For purposes of presentation, our pro forma
net tangible book value after this offering is $44,074,370 (or $51,349,370 if the underwriters exercise their over-allotment
option in full) less than it otherwise would have been because if we effect our initial business combination, the conversion rights
of the public stockholders (but not our insiders) may result in the conversion or tender of up to $4,407,437 (or $5,134,937
if the underwriters exercise their over-allotment option in full) shares sold in this offering.
The following table illustrates the
dilution to our public stockholders on a per-share basis.
Exercise of
No exercise of
over-allotment
over-allotment
option
option
in full
Public offering price
$
9.09
$
9.09
Net tangible book value before this offering
$
(0.04
)
$
(0.04
)
Increase attributable to new investors
$
1.97
$
1.77
Pro forma net tangible book value after this offering
    and the sale of the units
$
1.93
$
1.73
Dilution to new investors
$
7.16
$
7.36
Percentage of dilution to new investors
78.8
%
80.9
%
50
The following table sets forth information with respect to
our insiders and the new investors:
Shares purchased
Total consideration
Average
Shares
Percentage
Amount
Percentage
Price per Share
Initial shareholders — Initial Shares
(1)
1,250,000
17.86
%
$
25,000
0.05
%
$
0.02
Public stockholders (including underlying shares of rights)
(2)
5,500,000
78.57
%
$
50,000,000
96.02
%
$
9.09
Private units (including underlying shares of rights)
(3)
225,500
3.22
%
$
2,050,000
3.94
%
$
9.09
Representative shares
25,000
0.35
%
$
—
—
%
$
—
Total
7,000,500
100.00
%
$
52,075,000
100.00
%
(1)
Assumes over-allotment is not exercised and the forfeiture of an aggregate of 187,500 insider shares.
(2)
Includes the issuance of an additional 500,000 shares
underlying the rights contained in the new investors, or an additional 575,000 shares if the underwriters exercise their over-allotment
option in full.
(3)
Includes the issuance of an additional 20,500 shares underlying the rights contained in the private unit holders, or an additional 22,000 shares if the underwriters exercise their over-allotment option in full.
The pro forma net tangible book value
per share after the offering and the sale of the private units is calculated as follows:
Without
With
Over-allotment
Over-allotment
Numerator:
Net tangible book value before this offering
(63,125
)
(63,125
)
Net proceeds from this offering and sale of the private
    placement units, net of expenses
50,550,000
58,050,000
Plus: Offering costs accrued in advance, excluded from
    tangible book value
87,500
87,500
Less: Deferred underwriting fees
(1,500,000
)
(1,725,000
)
Less: Proceeds held in trust subject to redemption to
    maintain net tangible assets of $5,000,001
(44,074,370
)
(51,349,370
)
5,000,005
5,000,005
Denominator:
Shares of common stock outstanding prior to this offering
1,250,000
1,437,500
Shares of common stock included in the units offered
5,000,000
5,750,000
Shares of common stock underlying the rights to be included
    in the public units
500,000
575,000
Shares of common stock included in the private units
205,000
220,000
Shares of common stock underlying the rights to be included
    in the private units
20,500
28,750
Representative shares
25,000
25,000
Less: Shares subject to redemption
(4,407,437
)
(5,134,937
)
2,593,063
2,898,313
(1)
Reflects the forfeiture of an aggregate of 187,500 insider shares.
51
CAPITALIZATION
The following table sets forth our
capitalization at February 10, 2021 and as adjusted to give effect to the sale of our units offered by this prospectus and the
private units and the application of the estimated net proceeds derived from the sale of such securities:
February 10, 2021
Actual
As Adjusted
(1)
Notes
payable to related party
(2)
$
200,000
$
—
Deferred underwriting commissions payable
—
1,500,000
Common stock, $.0001 par value; 0 and 4,407,437 shares
    which are subject to redemption
—
44,074,370
Stockholders' equity
Common
    stock, $.0001 par value, 5,000,000 shares authorized (actual); 1,437,500 shares issued and outstanding, actual; 2,072,563
(3)
shares issued and outstanding (excluding 4,407,437 shares subject to possible conversion/tender), as adjusted
144
207
Additional paid-in capital
24,856
5,000,423
Accumulated deficit
(625
)
(625
)
Total stockholders' equity
24,375
5,000,005
Total capitalization
$
224,375
$
50,574,375
(1)
Includes the $2,050,000 in aggregate we will receive from the sale of the private units. Assumes the over-allotment option has not been exercised.
(2)
Our sponsor has agreed to loan us $200,000 to be used for a portion of the expenses of this offering. As of February 10, 2021, $200,000 was outstanding under the promissory note with our sponsor to be used for a portion of the expenses of this offering
(3)
Assumes the over-allotment option has not been exercised and an aggregate of 187,500 insider shares have been forfeited by our insiders as a result thereof.
52
MANAGEMENT'S DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
We were formed on December 31, 2020
for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization
or other similar business combination with one or more target businesses. Our efforts to identify a prospective target business
will not be limited to a particular industry or geographic region, although the Company intends to focus on operating businesses
in the TMT sector in Asia. We intend to utilize cash derived from the proceeds of this offering and the private placement of the
private units, our securities, debt or a combination of cash, securities and debt, in effecting our initial business combination.
The issuance of additional shares of common stock or preferred stock in our initial business combination:
●
may significantly dilute the equity interest of our investors in this offering who would not have pre-emption rights in respect of any such issuance;
●
may subordinate the rights of holders of shares of common stock if we issue shares of preferred stock with rights senior to those afforded to our shares of common stock;
●
will likely cause a change in control if a substantial number of our shares of common stock are issued, which may affect, among other things, our ability to use our net operating loss carry forwards, if any, and most likely will also result in the resignation or removal of our present officers and directors; and
●
may adversely affect prevailing market prices for our securities.
Similarly, if we issue debt securities,
it could result in:
●
default and foreclosure on our assets if our operating revenues after our initial business combination are insufficient to pay our debt obligations;
●
acceleration of our obligations to repay the indebtedness even if we have made all principal and interest payments when due if the debt security contains covenants that required the maintenance of certain financial ratios or reserves and we breach any such covenant 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 additional financing, if necessary, if the debt security contains covenants restricting our ability to obtain additional financing while such security is outstanding; 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.
We have neither engaged in any operations
nor generated any revenues to date. Our entire activity since inception has been to prepare for our proposed fundraising through
an offering of our equity securities.
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
As indicated in the accompanying financial
statements, at February 10, 2021, we had $162,500 in cash and a working capital deficit of $63,125. Further, we have incurred
and expect to continue to incur significant costs in pursuit of our financing and acquisition plans. Management plans to address
this uncertainty through this offering. We cannot assure you that our plans to raise capital or to consummate an initial business
combination will be successful. These factors, among others, raise substantial doubt about our ability to continue as a going
concern.
53
Our liquidity needs have been satisfied
to date through receipt of approximately $25,000 from the sale of the insider shares and a $200,000 loan from our sponsor that
is more fully described below. Our deferred offering costs paid through February 10, 2021 have been $62,500. We estimate
that the net proceeds from (1) the sale of the units in this offering, after deducting estimated offering expenses of approximately
$500,000 and underwriting discounts and commissions payable in cash of $1,000,000 (or $1,150,000 if the over-allotment option
is exercised in full) and (2) the sale of the private units for a purchase price of $2,050,000 (or $2,200,000 if the over-allotment
option is exercised in full), will be $50,550,000 (or $58,050,000 if the over-allotment option is exercised in full). $50,000,000
(or $57,500,000 if the over-allotment option is exercised in full), which includes $1,500,000 of deferred underwriting commissions
($1,725,000 if the underwriter's over-allotment option is exercised in full) payable in cash will be held in the trust account.
The remaining $550,000 will not be held in the trust account.
We intend to use substantially all of
the net proceeds of this offering, including the funds held in the trust account, in connection with our initial business combination
and to pay our expenses relating thereto, including a deferred underwriting commission payable to the underwriters in an amount
equal to 3.0% of the total gross proceeds raised in the offering upon consummation of our initial business combination. To the
extent that our capital stock is used in whole or in part as consideration to effect our initial business combination, the remaining
proceeds held in the trust account as well as any other net proceeds not expended will be used as working capital to finance the
operations of the target business. Such working capital funds could be used in a variety of ways including continuing or expanding
the target business' operations, for strategic acquisitions and for marketing, research and development of existing or new products.
Such funds could also be used to repay any operating expenses or finders' fees which we had incurred prior to the completion of
our initial business combination if the funds available to us outside of the trust account were insufficient to cover such expenses.
We believe that, upon consummation
of this offering, the $550,000 of net proceeds not held in the trust account along with the $162,500 cash at February 10, 2021,
will be sufficient to allow us to operate for at least the next 9 months (or 12 or 15 months if we have extended the period of
time as described in this prospectus), assuming that a business combination is not consummated during that time. Over this time
period, we will be using these funds for identifying and evaluating prospective business combination candidates, performing business
due diligence on prospective target businesses, traveling to and from the offices, plants or similar locations of prospective
target businesses, reviewing corporate documents and material agreements of prospective target businesses, selecting the target
business to consummate our initial business combination with and structuring, negotiating and consummating the business combination.
We anticipate that we will incur approximately:
●
$200,000 of expenses for the legal, accounting and other third-party expenses attendant to the due diligence investigations, structuring and negotiating of our initial business combination;
●
$70,000 of expenses for the due diligence and investigation of a target business by our officers, directors and insiders;
●
$40,000 of expenses in legal and accounting fees relating to our SEC reporting obligations;
●
$70,000 for the consulting, travel and miscellaneous expenses incurred during search for initial business combination target; and
●
$170,000 for general working capital that will be used for miscellaneous expenses, including D&O insurance.
If our estimates of the costs of undertaking
due diligence and negotiating our 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. Moreover, we may need to obtain
additional financing either to consummate our initial business combination or because we become obligated to convert a significant
number of our public shares upon consummation of our initial business combination, in which case we may issue additional securities
or incur debt in connection with such business combination. Subject to compliance with applicable securities laws, we would only
consummate such financing simultaneously with the consummation of our initial business combination. Following our initial business
combination, if cash on hand is insufficient, we may need to obtain additional financing in order to meet our obligations.
Related Party Transactions
On January 28, 2021, SPK Acquisition
LLC, our sponsor purchased 1,437,500 shares of common stock for an aggregate purchase price of $25,000.
On February 10, 2021, SPK Acquisition LLC
loaned us up to $200,000 under an unsecured promissory note to cover expenses related to this offering (the "Promissory
Note"). At February 10 2021, the Company had $200,000 in borrowings outstanding under the Promissory Note. The loan is payable
without interest at the closing of this offering.
54
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. However, in order
to finance transaction costs in connection with an intended initial business combination, our insiders or their affiliates may,
but are not obligated to, loan us funds as may be required. 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. Such loans would be evidenced by promissory notes. The notes would either be paid
upon consummation of our initial business combination, without interest, or, at the lender's discretion, up to $1,500,000 of
the notes may be converted upon consummation of our business combination into additional private units at a price of $10.00 per
unit. If we do not complete a business combination, any other outstanding loans from our insiders or their affiliates will be repaid
only from amounts remaining outside our trust account, if any. We believe the purchase price of these units will approximate the
fair value of such units when issued. However, if it is determined that, at the time of issuance, the fair value of such units
exceeds the purchase price, we would record compensation expense for the excess of the fair value of the units on the day of issuance
over the purchase price in accordance with ASC 718 — Compensation — Stock Compensation.
Controls and Procedures
We are not currently required to maintain
an effective system of internal control as defined by Section 404 of the Sarbanes-Oxley Act. We will be required to comply with
the internal control requirements of the Sarbanes-Oxley Act for the fiscal year ending December 31, 2022. Only in the event
that we are deemed to be a large accelerated filer or and accelerated filer and no longer an emerging growth company as defined
in the JOBS Act would we be required to comply with the independent registered public accounting firm attestation requirements.
Further, for as long as we remain an emerging growth company, 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 registered public accounting firm attestation requirement
As of the date of this prospectus, we
have not completed an assessment, nor has our independent registered public accounting firm tested our systems, of internal control.
We expect to assess the internal control 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 control. A target business may not be in compliance with the provisions of the Sarbanes-Oxley Act
regarding the adequacy of internal control. 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 expense 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.
When required by Section 404 and once
our management's report on internal control is complete, we will retain our independent registered public accounting firm to audit
and render an opinion on such report. This independent registered public accounting firm may identify additional issues concerning
a target business's internal control while performing its 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 units held in the trust account will be invested 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. 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 10, 2021, we did not
have any off-balance sheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S-K. In connection with this offering,
we have agreed to pay our counsel $150,000 upon closing of the initial public offering and $25,000 upon closing
of the initial business combination No unaudited quarterly operating data is included in this prospectus as we have conducted
no operations to date.
55
JOBS Act
On September 5, 2012, the JOBS Act was
signed into law. 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 auditor's attestation report on our system of internal control 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 auditor'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 our initial
public offering or until we are no longer an "emerging growth company," whichever is earlier.
56
PROPOSED BUSINESS
General
We are a blank check company
formed under the laws of the State of Delaware on December 31, 2020. 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. Our efforts to identify a prospective target business
will not be limited to a particular industry or geographic region, although the Company intends to focus on operating businesses
in Asia focused on the TMT sectors. We do not have any specific business combination under consideration and we have
not (nor has anyone on our behalf), directly or indirectly, contacted any prospective target business or had any substantive discussions,
formal or otherwise, with respect to such a transaction. 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.
Background and Competitive Advantage
We will seek to leverage our
management team's proprietary network of relationships with corporate executives, private equity, venture and growth capital
funds, investment banking firms, consultants, family offices, and large corporations in order to source, acquire, and support
the operations of the business combination target. Our management team has extensive experience investing in and operating businesses
within the TMT sector in Asia and North America, and we believe that this combination of relationships and expertise will make
us a preferred partner for and allow us to source high-quality combination targets.
We believe that our management
team brings a unique background and skillset that will be attractive to leading Asia based companies, and will be able to leverage
the following competitive strengths in identifying, structuring, and consummating a business combination:
●
Extensive
network within the Asia TMT sector.
We have longstanding relationships with top TMT executives, investors, entrepreneurs,
and investment banks in the Asia region, which will provide us with access to proprietary investment opportunities and strong
deal flow in our target sectors.
●
U.S.
capital markets expertise.
Our management team and board possess significant U.S. capital markets experience as investors,
investment bankers, and purchasers and sellers of both private and public companies.
●
Cross-border
deal experience between the U.S. and Asia.
Our management team has significant experience completing large-scale domestic
and cross-border transactions, involving acquirers and targets located across the U.S. and Asia.
●
TMT-specific
industry knowledge and operator experience.
Our management team has operated, invested in, and advised leading TMT
companies in Asia and the U.S., and are regarded as industry experts within our target sector of TMT.
Our Board of Directors and Management
Our management team is led by
our Chief Executive Officer, Sophie Ye Tao, our Chief Financial Officer, Philip Chun-Hun Kwan, and three independent directors
who collectively have decades of experience in investing, building and operating businesses focused on the TMT sector in both
Asia and North America. Furthermore, our management team has experience in the U.S. capital markets and understands what investors
look for in a public company. We believe that our team has a strong and complementary set of skills which will allow us to identify
a target, execute a business combination, and maximize value to stockholders.
57
Sophie Ye Tao, our President
and Chief Executive Officer, has been an active investor in China and the US since 2007. Throughout her investment career, she
has invested in companies including Evernote, 360 DigiTech, Inc. (NASDAQ: QFIN), a leading fintech platform in China, Tricorn
Technology, a leading China-based AI company focused on natural language processing which was later acquired by Tencent in
2020, Shanghai Canxing Culture & Broadcast Company, the largest unscripted content producer in China and Ningmeng Pictures,
a leading Chinese studio focused on television and film production. From 2016 to 2021, Ms. Tao was a partner at Hanfor Capital
Management, a China-based private equity firm and focused on investments in the TMT and consumer industries. She was a co-founder
and partner at Ray Shi Capital Group from 2010 to 2015, a US registered investment adviser focusing on equity investments in Chinese
companies listed in Hong Kong and the U.S. Ms. Tao was the senior investment manager for Greater China at Vision Capital Advisors
in New York City from 2007 to 2010. At Vision, Ms. Tao helped launch and co-managed the Vision Opportunity China Fund, focusing
on sourcing, structuring and investing in small- and medium-sized enterprises in China through reverse mergers, private placements
and private equity. Previously, Ms. Tao worked at Banc of America Securities LLC in New York City in its equity capital markets
group between 2005 and 2007, where she originated and executed convertible bond and other equity–linked issuances. She also
worked at NERA Economic Consulting in its Chicago and New York City offices between 2003 and 2005 where she helped provide economics
and econometrics analysis and recommendations to multi-national corporations involved in antitrust and securities litigations.
Before that, Ms. Tao worked as a policy consultant at the Organization for Economic Cooperation and Development (OECD) in Paris
from 2001 to 2002, where she advised countries on their economic and regulatory reform policies. Ms. Tao graduated from the Woodrow
Wilson School of Public and International Affairs at Princeton University in 2003 with a Master of Public Affairs (MPA) degree
concentrating in economics and advanced quantitative analysis. She also graduated from the University of International Business
& Economics in Beijing with a Bachelor of Laws degree in 2000.
As our Chief Financial Officer
and a member of our board of directors, Mr. Philip Chun-Hun Kwan, has spent his career in the TMT industry, as an investor, advisor
and operator since 2004. Mr. Kwan is currently the CEO of Palestra Sports, a sports-focused start-up based in China which he co-founded
in June 2017. From 2010 to 2017, Mr. Kwan was a senior vice president at The Raine Group ("Raine"), where he was a
founding member of the firm's China practice based in Beijing and subsequently Shanghai. Raine is one of the world's
leading TMT-focused merchant banks, with total assets under management of over $3.5 billion. At Raine, Mr. Kwan provided investment
banking advisory services to leading Chinese and international media and entertainment companies (primarily mergers and acquisitions
and large-scale capital raise transactions), and also worked on the fund side where he helped source and execute direct principal
investments in China. Representative transactions during his time at Raine include the $4.2 billion sale of the Ultimate Fighting
Championship to WME IMG, the sale of 13% of Manchester City Football Group to CMC Capital and CITIC for $400 million, Perfect
World's $250 million investment into Universal Studios' film slate, the creation of Flagship Entertainment, the Chinese
film studio co-financed by Warner Bros and CMC Capital, the sale of PPTV to Suning for $420 million, and the spin-off of and $80
million capital raise for IMAX China, among others. In the Singapore region, Mr. Kwan also represented Wego in its
Series A capital raise. Prior to joining Raine, Mr. Kwan worked at Southfield Capital, a middle market private equity firm backed
by Canyon Capital Advisors focused on North American buyouts. During his time at Southfield, he executed a number of leveraged
buyout transactions across a range of different industries. Mr. Kwan started his professional career in the mergers and acquisitions
advisory group at Evercore Partners in New York. He graduated from The Wharton School at the University of Pennsylvania with a
Bachelor of Science in Economics in 2004. Mr. Kwan is currently married to Ms. Tao.
Mr. Justin Chang serves as an
independent director, and brings us his more than 15 years of technology, product development, and entrepreneurial experience.
Currently, Mr. Chang is the vice president of product at ClassPass, a marketplace aggregator of local fitness, wellness, and beauty
merchants. ClassPass provides customers with a flexible membership that gives them access to 40,000 boutique studios, gyms,
and wellness facilities across 28 countries. He joined ClassPass in 2014 after its seed financing, helping scale the company from
one city to 2,500 cities by leading the engineering, product management, product design, user research, and product operations
teams. In 2019, Mr. Chang helped launch ClassPass China, a localized version of the ClassPass experience. Mr. Chang also
sits on the ClassPass executive team where he oversees global product strategy and product development. Outside ClassPass, Mr.
Chang regularly advises early stage founders and executives on strategy, growth, and product. From 2011 to 2014, Mr. Chang
worked at AHAlife, a luxury e-commerce marketplace, where he led the product development of its merchant portal and
augmented reality shopping experiences. Prior to AHAlife, Mr. Chang co-founded MatchBright in 2006, a career discovery platform
that leveraged big data to help job seekers discover best fit careers, and operated its business until 2010. Mr. Chang began his
career as a consultant for Bain & Company where he advised Fortune 500 companies in consumer products, retail, TMT, banking,
and healthcare industries from 2004 to 2006. Mr. Chang graduated magna cum laude from The Wharton School at the University
of Pennsylvania in 2004 with degrees in Finance and Management.
58
Mr. Bryant Chou serves as an
independent director, and brings us his experience in corporate finance and the TMT industry across the US, Asia and Europe.
Since 2012, Mr. Chou has been the CEO of Yi Shi Yi Se (Beijing) Culture Communication Co., Ltd. and its predecessor company,
VICE China, where Mr. Chou oversees the launch and expansion of the local entity, leads commercial activities and serves
as the main liaison for key business partners domestically and across the APAC region. Prior to this, Mr. Chou worked at DMG Entertainment,
a Chinese advertising and entertainment agency from 2011 to 2012. From 2007 to 2008, he was a consultant at JL McGregor, a boutique
equity research firm. Mr. Chou began his career in investment banking in New York at Miller Buckfire from 2003 to 2006,
a leading boutique restructuring firm. Mr. Chou graduated from The Wharton School at the University of Pennsylvania in
December 2002, receiving a Bachelor of Science in Economics with concentrations in Finance and Management.
Mr. Greg Chang serves as an independent director,  and brings his more than 15 years of experience in technology, gaming, business
development, marketing, and entrepreneurship. Since 2020, Mr. Chang has been the general manager of RealTime Technology, a SAAS
company servicing the telecom, retail, and gaming industries. He is also an investor in multiple startups and a mentor at SOSV,
one of the most active VCs in the Asia region. From 2015 until 2019, Mr. Chang was the director of games and mobile, Greater China,
at The Walt Disney Company where he was responsible for popular titles such as Marvel Future Fight, Star Wars Commander, and Disney
TsumTsum. He also developed several multi-million dollar licensing deals with some of the top technology companies in China. From
2013 to 2015, he was the vice president of Asia at Glu Mobile where he initiated Glu's $100M+ strategic partnership and
investment with Tencent and helped launch several popular games including Deer Hunter, Eternity Warriors, and Kim Kardashian:
Hollywood in the region. Prior to that, Mr. Chang was the director of business at NCSoft Taiwan from 2011 to 2012 and vice president
at The Ivy Group (a Temasek portfolio company) from 2009 to 2011. Mr. Chang graduated from the University of California, Berkeley
with a Bachelor of Arts in 2001 and also received an MBA from Columbia Business School in 2009.
Our Business Strategy and Acquisition Criteria
We intend to focus our efforts
on potential acquisition targets that exhibit compelling long term growth potential and highly defensible market positions. We
believe that our management team's extensive relationships with corporate executives, investors, and entrepreneurs will provide
us with a strong pipeline of potential acquisition opportunities in our target sectors. Our long experience operating and investing
in these sectors in Asia are key differentiators for us compared to other blank check companies, the majority of which we believe
are seeking business combinations exclusively in the U.S. We believe this will allow us to source and execute a business combination
with an attractive target company more quickly, efficiently, and under better terms than our competitors.
We believe that targeting companies
in Asia is compelling because there is a significant pool of high-quality private companies that could benefit from going public
in the United States. According to CB Insights, there are more than 97 "unicorns" – private companies valued
at $1 billion or more – operating within the TMT sectors in Asia. Relative to U.S. based targets, there have also been comparatively
few business combinations between U.S. listed blank check companies and targets located in Asia. According to FactSet, of 150
SPAC business combinations closed from 2017 through February 2021 only 12 (or 8%) of the total involved Asia-based target companies.
Comparatively speaking, during the same period there were 836 traditional IPOs in US markets of which 125 (or 15%) involved Asia-based
issuers. Given the high level of business formation and development in Asia, and the number of high-quality emerging companies
seeking access to the US capital markets in our network, we believe that we will be able to engage with many leading Asia-based
companies interested in a business combination.
We have identified the following
general criteria and guidelines as we evaluate prospective target companies.
●
Operating within
the TMT sectors.
We intend to seek targets with an enterprise value of approximately $250 million to $1 billion. We will prioritize
targets that are already benefiting from or capitalizing on tailwinds found within their respective TMT sub-sectors.
●
Strong management
team.
The strength of the management team will be an important component in our review process. We will seek to partner with
a management team that is operationally strong and has demonstrated the ability to scale, but is also well-incentivized and aligned
in our future vision for creating long term shareholder value.
●
Strong and defensible
market position.
We intend to favor targets that have a strong competitive advantage or are advanced in their penetration
of new and emerging markets. We will target companies that have strong intellectual property, technology, or brand equity within
their respective sectors and that can be further monetized on a global basis.
●
Asia-focused but
operating on a global basis.
We will seek targets that have already established a strong operating history within Asia, but
which possess a competitive edge to expand into new geographic regions where similar needs exist.
59
●
At a growth inflection
point.
We intend to seek targets that may benefit from capital infusions that will be used to fund higher growth through
expansion into new markets and product offerings.
●
Operating in sectors
that are underpenetrated by dominant global players.
We will seek targets that are operating in new and emerging sectors that
are not yet dominated by large global players. Ideally, these sectors will also benefit from strong secular tailwinds that will
provide a long runway for industry growth and profitability into the foreseeable future.
●
Benefit from
being a public company.
We intend to seek targets that may lack experience with the capital markets but that possess the
aspiration to take advantage of improved access to capital that comes from a listing in the U.S. This improved access to
capital could allow the targets to accelerate growth, pursue new projects, retain and hire employees, and expand
into new geographies or businesses. Ultimately, this combination of enhanced liquidity and access to capital markets will
enable our target to accelerate its growth and increase its resulting value.
While we intend to use these
criteria in evaluating the attractiveness of potential business combination opportunities, we may ultimately decide to enter into
an initial business combination with a target business that does not meet these criteria. In the event that we decide to enter
into our initial business combination with a target business that does not meet the above criteria and guidelines, we will disclose
that the target business does not meet the above criteria and guidelines in our stockholders communications related
to our initial business combination, which, as discussed in this prospectus, would be in the form of tender offer documents or
proxy solicitation materials that we would file with the SEC.
In evaluating a prospective target
business, we expect to conduct a thorough due diligence review that will encompass, among other things, meetings with incumbent
management and employees, document reviews, interviews of customers and suppliers, inspection of facilities, as well as reviewing
financial and other information which will be made available to us. We will also utilize our operational and capital allocation
experience. Our acquisition criteria, due diligence processes and value creation methods 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.
Effecting Our Initial Business Combination
General
We are not presently engaged in, and
we will not engage in, any substantive commercial business for an indefinite period of time following this offering. We intend
to utilize cash derived from the proceeds of this offering and the private placement of private units, our share capital, debt
or a combination of these in effecting a business combination. Although substantially all of the net proceeds of this offering
and the private placement of private units are intended to be applied generally toward effecting a business combination as described
in this prospectus, the proceeds are not otherwise being designated for any more specific purposes. Accordingly, investors in this
offering are investing without first having an opportunity to evaluate the specific merits or risks of any one or more business
combinations. A business combination may involve the acquisition of, or merger with, a company which does not need substantial
additional capital but which desires to establish a public trading market for its shares, while avoiding what it may deem to be
adverse consequences of undertaking a public offering itself. These include time delays, significant expense, loss of voting control
and compliance with various U.S. Federal and state securities laws. In the alternative, we may seek to consummate a business combination
with a company that may be in its early stages of development or growth. While we may seek to effect simultaneous business combinations
with more than one target business, we will probably have the ability, as a result of our limited resources, to effect only a single
business combination.
We Have Not Identified a Target
Business
To date, we have not selected any target
business on which to concentrate our search for a business combination. None of our insiders and other affiliates
has engaged in discussions on our behalf with representatives of other companies regarding the possibility of a potential merger,
share exchange, asset acquisition or other similar business combination with us, nor have we, nor any of our agents or affiliates,
been approached by any candidates (or representatives of any candidates) with respect to a possible business combination with
us.
Subject to the limitations that a target
business have a fair market value of at least 80% of the balance in the trust account (excluding any deferred underwriting discounts
and commissions and taxes payable on the income earned on the trust account) at the time of the execution of a definitive agreement
for our initial business combination, as described below in more detail, we will have virtually unrestricted flexibility in identifying
and selecting a prospective acquisition candidate. We have not established any other specific attributes or criteria (financial
or otherwise) for prospective target businesses. Accordingly, there is no basis for investors in this offering to evaluate the
possible merits or risks of the target business with which we may ultimately complete a business combination. To the extent we
effect a business combination with a company or an entity in its early stage of development or growth, including entities without
established records of sales or earnings, we may be affected by numerous risks inherent in the business and operations of early
stage or potential emerging growth companies. Although our management will endeavor to evaluate the risks inherent in a particular
target business, we cannot assure you that we will properly ascertain or assess all significant risk factors.
60
Sources of Target Businesses
We anticipate that target business
candidates will be brought to our attention from various unaffiliated sources, including investment bankers, venture capital funds,
private equity funds, leveraged buyout funds, management buyout funds and other members of the financial community. Target businesses
may be brought to our attention by such unaffiliated sources as a result of being solicited by us through calls or mailings which
will not commence until after the completion of this offering. These sources may also introduce us to target businesses they think
we may be interested in on an unsolicited basis, since many of these sources will have read this prospectus and know what types
of businesses we are targeting. Our officers and directors, as well as their respective affiliates, may also bring to our attention
target business candidates that they become aware of through their business contacts as a result of formal or informal inquiries
or discussions they may have, as well as attending trade shows or conventions. While we do not presently anticipate engaging the
services of professional firms or other individuals that specialize in business acquisitions on any formal basis, we may engage
these firms or other individuals in the future, in which event we may pay a finder's fee, consulting fee or other compensation
to be determined in an arm's length negotiation based on the terms of the transaction. In no event, however, will any of
our existing insiders, special advisors 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 consummation of a business combination
(regardless of the type of transaction). If we decide to enter into a business combination with a target business that is affiliated
with our insiders, we will do so only if we have obtained an opinion from an independent investment banking firm that the
business combination is fair to our unaffiliated stockholders from a financial point of view. However, as of the date
of this prospectus, there is no affiliated entity that we consider a business combination target.
In addition, 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 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. All of our officers, directors and director nominees currently have certain relevant pre-existing fiduciary
duties or contractual obligations.
Fair Market Value of Target Business
Pursuant to the rules of the Nasdaq
Stock Market, our initial business combination must occur with one or more target businesses having an aggregate fair market value
of at least 80% of the value of the trust account (excluding any deferred underwriter's fees and taxes payable on the income earned
on the trust account), which we refer to as the 80% test, at the time of the agreement to enter into the initial business combination.
Therefore, the fair market value of the target business will be calculated prior to any conversions of our shares in connection
with a business combination and therefore will be a minimum of $38,800,000 (or $44,620,000 if the over-allotment option is exercised
in full) in order to satisfy the 80% test. While the fair market value of the target business must satisfy the 80% test, the consideration
we pay the owners of the target business may be a combination of cash (whether cash from the trust account or cash from a debt
or equity financing transaction that closes concurrently with the business combination) or our equity securities. The exact nature
and amount of consideration would be determined based on negotiations with the target business, although we will attempt to primarily
use our equity as transaction consideration. 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 with respect to the satisfaction
of such criteria. We will also obtain a fairness opinion from an independent investment banking firm before consummating a business
combination with an entity affiliated with any of our officers, directors or insiders. If we are no longer listed on Nasdaq, we
will not be required to satisfy the 80% test.
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 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, but we will only complete such business
combination if the post-transaction company owns 50% or more of the outstanding voting securities of the target or otherwise owns
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, or the Investment Company Act. 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-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% test.
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Alternative structures to comply
with regulations in certain Chinese industries
We may need to adopt alternative structures
in the event that we elect to acquire a target company in certain Chinese industries, including the TMT sectors. The Chinese government
has restricted or limited direct foreign ownership of certain kinds of assets and companies operating in a wide variety of industries,
including certain aspects of telecommunications, advertising, food production, airline, and heavy equipment manufacturers etc.
The Chinese government may apply these restrictions in other industries in the future. In addition, there can be restrictions on
the foreign ownership of businesses that are determined from time to time to be in "important industries" that may affect
the national economic security or having "famous Chinese brand names" or "well established Chinese brand names."
Subject to the review requirements of the Ministry of Commerce and other relevant agencies as discussed elsewhere for acquisitions
of assets and companies in China and subject to the various percentage ownership limitations that exist from time to time, acquisitions
involving foreign investors and parties in the various restricted categories of assets and industries may nonetheless sometimes
be consummated using contractual arrangements with permitted Chinese parties which could, for example, result in a structure where,
in exchange for our payment of the acquisition consideration, the target business would be majority or wholly owned by Chinese
residents whom we designate, and the target business would continue to hold the requisite licenses necessary to operate its business.
To the extent such agreements are employed, they may be for control of specific assets such as intellectual property or control
of blocks of the equity ownership interests of a company. The agreements would be designed to secure for us economic benefits and
to assume risk of losses and control over the subject assets or equity interests similar to the rights of full ownership, while
leaving the technical ownership in the hands of Chinese parties.
For example, these contracts could result
in a structure where, in exchange for our payment of the acquisition consideration: (i) the target company would be majority owned
by Chinese residents whom would be likely designated by us and the target company would continue to hold the requisite licenses
for the target business and (ii) we would establish a new subsidiary in China which would provide technology, technical support,
consulting and related services to the target company in exchange for fees, which would transfer to us substantially all of the
economic benefits of ownership of the target company.
These contractual arrangements would
be designed to provide the following:
●
Our exercise of effective control over the target company;
●
We will assume economic benefits and risk of losses of the target company that are substantially similar to full ownership;
●
The shareholders of the target company would grant us a pledged interest in all of the issued and outstanding interests of the target company, including the right to vote such shares, as security for the performance of the target company's obligations under the contractual arrangements;
●
The shareholders of the target company would grant us an irrevocable proxy for the maximum period permitted by law, to vote the shareholders' shares in the target company in such manner and for or against such proposals as we may determine; and
●
We, or our designee, would have an exclusive option to purchase all or part of the equity interests in the target company owned by the Chinese residents whom we designate, or all or part of the assets of the target company, in each case when and to the extent permitted by Chinese regulations.
While we cannot predict the terms of
any such contract that we will be able to negotiate, at a minimum, any contractual arrangement would need to provide us with effective
control over the target's operations and management either directly through board control or through affirmative and/or negative
covenants and veto rights with respect to matters such as entry into material agreements, management changes and issuance of debt
or equity securities, among other potential control provisions. We have not, however, established specific provisions which must
be in an agreement in order to meet the definition of business combination.
These agreements likely also would provide
for increased ownership or full ownership and control by us when and if permitted under Chinese law and regulation. If we choose
to effect our initial business combination that employs the use of these types of control arrangements, we may have difficulty
in enforcing our rights. Therefore, these contractual arrangements may not be as effective in providing us with the same economic
benefits, accounting consolidation or control over a target business as would direct ownership through a merger or shares exchange.
For example, if the target business or any other entity fails to perform its obligations under these contractual arrangements,
we may have to incur substantial costs and expend substantial resources to enforce such arrangements, and rely on legal remedies
under Chinese law, including seeking specific performance or injunctive relief, and claiming damages, which we cannot assure you
will be sufficient to off-set the cost of enforcement and may adversely affect the benefits we expect to receive from the business
combination.
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While we believe under such contractual
arrangement, we will be considered the primary beneficiary and be able to consolidate financial results of the target company in
our consolidated financial statements. In the event that in the future generally accepted accounting policies in the United States
and the SEC accounting regulations change and we are deemed not to be the primary beneficiary by controlling the target company
through such contractual arrangement, we would not be able to consolidate line by line the target company's financial results in
our consolidated financial statements.
Moreover, we expect that the contractual
arrangements upon which we would be relying would be governed by Chinese law and would be the only basis of providing resolution
of disputes which may arise through either arbitration or litigation in China. Accordingly, these contracts would be interpreted
in accordance with Chinese law and any disputes would be resolved in accordance with Chinese legal procedures. Uncertainties in
the Chinese legal system could limit our ability to enforce these contractual arrangements. In the event we are unable to enforce
these contractual arrangements, we may not be able to exert the effective level of control over the target business.
We have not selected any target business
or target industry on which to concentrate our search for our initial business combination and we are, therefore, unable to determine
at this time what form an acquisition of a target business will take.
Stockholder Approval of Business
Combination
In connection with any proposed business
combination, we will either (1) seek stockholder approval of our initial business combination at a meeting called for such purpose
at which public stockholders (but not our insiders, officers or directors) may seek to convert their shares of common stock, regardless
of whether they vote for or against the proposed business combination, into a portion of the aggregate amount then on deposit in
the trust account, or (2) provide our stockholders with the opportunity to sell their shares to us by means of a tender offer (and
therefore 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, in each case subject to the limitations described herein. If we determine to engage in a tender offer, such
tender offer will be structured so that each stockholder may tender all of his, her or its shares rather than some pro rata portion
of his, her or its shares. The decision as to whether we will seek stockholder approval of a proposed business combination or whether
we 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. We anticipate that our business combination could be completed by way of a merger, share
exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar transaction. Stockholder approval
will not be required under Delaware law if the business combination is structured as an acquisition of assets of the target company,
a share exchange with target company stockholders or a purchase of stock of the target company; however, Nasdaq rules would require
us to obtain stockholder approval if we seek to issue shares representing 20% or more of our outstanding shares as consideration
in a business combination. A merger of our company into a target company would require stockholder approval under Delaware law.
A merger of a target company into our company would not require stockholder approval unless the merger results in a change to our
certificate of incorporation, or if the shares issued in connection with the merger exceed 20% of our outstanding shares prior
to the merger. A merger of a target company with a subsidiary of our company would not require stockholder approval unless the
merger results in a change in our certificate of incorporation; however, Nasdaq rules would require us to obtain stockholder approval
of such a transaction if we week to issue shares representing 20% or more of our outstanding shares as consideration.
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 provide our stockholders with an opportunity
to tender their shares to us pursuant to a tender offer pursuant to Rule 13e-4 and Regulation 14E of the Exchange Act, which regulate
issuer tender offers, and we will file tender offer documents with the SEC which will contain substantially the same financial
and other information about the initial business combination as is required under the SEC's proxy rules.
In the event we allow stockholders to
tender their shares pursuant to the tender offer rules, our tender offer 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 purchase public shares
in an amount that would cause our net tangible assets to be less than $5,000,001 (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.
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If, however, stockholder approval of
the transaction is required by law or Nasdaq requirements, or we decide to obtain stockholder approval for business or other legal
reasons, we will:
●
permit stockholders to convert their shares 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 stockholders
with the conversion rights described above upon completion of the initial business combination.
We will consummate our initial business
combination only if public stockholders do not exercise conversion rights in an amount that would cause our net tangible assets
to be less than $5,000,001 and a majority of the outstanding shares of common stock voted are voted in favor of the business combination.
As a result, if stockholders owning approximately 87% (or approximately 88% if the over-allotment option is exercised in full)
or more of the shares of common stock sold in this offering exercise conversion rights, the business combination will not be consummated.
However, the actual percentages will only be able to be determined once a target business is located and we can assess all of the
assets and liabilities of the combined company (which would include the fee payable to the underwriters in an amount equal to 3.0%
of the total gross proceeds raised in the offering as described elsewhere in this prospectus, any out-of-pocket expenses incurred
by our insiders or their affiliates in connection with certain activities on our behalf, such as identifying and investigating
possible business targets and business combinations that have not been repaid at that time, as well as any other liabilities of
ours and the liabilities of the target business) upon consummation of the proposed business combination, subject to the requirement
that we must have at least $5,000,001 of net tangible assets upon closing of such business combination. As a result, the actual
percentages of shares that can be converted may be significantly lower than our estimates. We chose our net tangible asset threshold
of $5,000,001 to ensure that we would avoid being subject to Rule 419 promulgated under the Securities Act. However, if we seek
to consummate an initial business combination with a target business that imposes any type of working capital closing condition
or requires us to have a minimum amount of funds available from the trust account upon consummation of such initial business combination,
our net tangible asset threshold may limit our ability to consummate such initial business combination (as we may be required to
have a lesser number of shares converted) and may force us to seek third-party financing which may not be available on terms acceptable
to us or at all. As a result, we may not be able to consummate such initial business combination and we may not be able to locate
another suitable target within the applicable time period, if at all. Public stockholders may therefore have to wait 9 months from
the closing of this offering (or 12 or 15 months if we have extended the period of time as described in this prospectus) in order
to be able to receive a portion of the trust account.
Our insiders, including our officers
and directors, have agreed (1) to vote any shares of common stock owned by them in favor of any proposed business combination,
(2) not to convert any shares of common stock into the right to receive cash from the trust account in connection with a stockholder
vote to approve a proposed initial business combination or a vote to amend the provisions of our certificate of incorporation relating
to stockholders' rights or pre-business combination activity and (3) not to sell any shares of common stock in any tender in connection
with a proposed initial business combination.
Depending on how a business combination
was structured, any stockholder approval requirement could be satisfied by obtaining the approval of either (i) a majority of
the shares of our common stock that were voted at the meeting (assuming a quorum was present at the meeting), or (ii) a majority
of the outstanding shares of our common stock. Because our insiders, including our officers and directors, will collectively beneficially
own approximately 22.45% of our issued and outstanding shares of common stock (not including the private units and underlying
securities and assuming our insiders do not purchase any units in this offering) upon consummation of this offering, a minimum
of approximately 165,001 public shares, or approximately 3.28% of the outstanding shares of our common stock (if the approval
requirement was a majority of shares voted and the minimum number of shares required for a quorum attended the meeting and assuming
the over-allotment option has not been exercised and an aggregate of 187,500 insider shares have been forfeited as a result thereof),
would need to be voted in favor a business combination in order for it to be approved.
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None of our insiders or their affiliates
has indicated any intention to purchase units or shares of common stock from persons in the open market or in private transactions.
However, if we seek stockholder approval of a business combination and if we hold a meeting to approve a proposed business combination
and a significant number of stockholders vote, or indicate an intention to vote, against such proposed business combination, we
or our insiders or their affiliates could make such purchases in the open market or in private transactions in order to influence
the vote. 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. No funds from the trust account can be released from the trust account prior
to the consummation of a business combination to make such purchases (although such purchases could be made using funds available
to us after the closing of a business combination). 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. Notwithstanding the foregoing, we or our insiders or their affiliates
will not make purchases of shares of common stock if the purchases would violate Sections 9(a)(2) or 10(b) of the Exchange Act
or Regulation M, which are rules that prohibit manipulation of a company's stock, and we and they will comply with Rule 10b-18
under the Exchange Act in connection with any open-market purchases. If purchases cannot be made without violating applicable law,
no such purchases will be made. 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 insiders anticipate
that they may identify the stockholders with whom our insiders 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 insiders 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.
Ability to Extend Time to Complete
Business Combination
We will have until 9 months from the
closing of this offering (or 15 months from the closing of this offering if we have filed a proxy statement, registration statement
or similar filing for an initial business combination within 9 months from the closing of this offering but have not completed
the initial business combination within such 9-month period) to consummate our initial business combination. In addition, if we
anticipate that we may not be able to consummate our initial business combination within 9 months and we have not filed a proxy
statement, registration statement or similar filing for an initial business combination by such date, our insiders or their affiliates
may, but are not obligated to, extend the period of time to consummate a business combination two times by an additional three
months each time (for a total of up to 15 months to complete a business combination), provided that, 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, the only way to extend the time available for us to consummate our
initial business combination in the absence of a proxy statement, registration statement or similar filing is for our insiders
or their affiliates or designees, upon five days' advance notice prior to the applicable deadline, to deposit into the trust
account $500,000, or $575,000 if the over-allotment option is exercised in full ($0.10 per share in either case, or an aggregate
of $1,000,000 (or $1,150,000 if the over-allotment option is exercised in full)), on or prior to the date of the applicable deadline.
In the event that they elected to extend the time to complete a business combination and deposited the applicable amount of money
into trust, the insiders would receive a non-interest bearing, unsecured promissory note equal to the amount of any such deposit
that will not be repaid in the event that we are unable to close a business combination unless there are funds available outside
the trust account to do so. Such notes would either be paid upon consummation of our initial business combination, or, at the
relevant insider's discretion, converted upon consummation of our business combination into additional private units at
a price of $10.00 per unit. Our stockholders have approved the issuance of the private units upon conversion of such
notes, to the extent the holder wishes to so convert such notes at the time of the consummation of our initial business combination.
In the event that we receive notice from our insiders five days prior to the applicable deadline of their intent 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 insiders 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. To the extent that some, but not all, of our insiders, decide to extend
the period of time to consummate our initial business combination, such insiders (or their affiliates or designees) may deposit
the entire amount required. If we are unable to consummate our initial business combination within such time period, we will,
as promptly as possible but not more than ten business days thereafter, redeem 100% of our outstanding public shares for a pro
rata portion of the funds held in the trust account, including a pro rata portion of any interest earned on the funds held in
the trust account and not previously released to us to pay our taxes, and then seek to dissolve and liquidate. However, we may
not be able to distribute such amounts as a result of claims of creditors which may take priority over the claims of our public
stockholders. In the event of our dissolution and liquidation, the private units will expire and will be worthless.
Conversion Rights
At any meeting called to approve an
initial business combination, any public stockholder, whether voting for or against such proposed business combination, will be
entitled to demand that his or her shares of common stock be converted for a full pro rata portion of the amount then in the trust
account (initially $10.00 per share), plus any pro rata interest earned on the funds held in the trust account and not previously
released to us or necessary to pay our taxes. Alternatively, we may provide our public stockholders with the opportunity to sell
their shares of our common stock to us through 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, net of taxes payable.
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Notwithstanding the foregoing, a public
stockholder, together with any affiliate of his or hers or any other person with whom he or she is acting in concert or as a "group"
(as defined in Section 13(d)(3) of the Exchange Act), will be restricted from seeking conversion rights with respect to 20% or
more of the shares of common stock sold in this offering. Such a public stockholder would still be entitled to vote against a proposed
business combination with respect to all shares of common stock owned by him or her, or his or her affiliates. We believe this
restriction will prevent stockholders from accumulating large blocks of shares before the vote held to approve a proposed business
combination and attempt to use the conversion right as a means to force us or our management to purchase their shares at a significant
premium to the then current market price. By not allowing a stockholder to convert more than 20% of the shares of common stock
sold in this offering, we believe we have limited the ability of a small group of stockholders to unreasonably attempt to block
a transaction which is favored by our other public stockholders.
None of our insiders will have the right
to receive cash from the trust account in connection with a stockholder vote to approve a proposed initial business combination
or a vote to amend the provisions of our certificate of incorporation relating to stockholders' rights or pre-business combination
activity with respect to any shares of common stock owned by them, directly or indirectly, whether acquired prior to this offering
or purchased by them in this offering or in the aftermarket.
We may also require public stockholders
who wish to convert, whether they are a record holder or hold their shares in "street name," to either tender their certificates
to our transfer agent at any time through the vote on the business combination 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 proxy
solicitation materials that we will furnish to stockholders in connection with the vote for any proposed business combination will
indicate whether we are requiring stockholders to satisfy such delivery requirements. Accordingly, a stockholder would have from
the time the stockholder received our proxy statement through the vote on the business combination to deliver his or her shares
if he or she wishes to seek to exercise his or her conversion rights. Under Delaware law and our bylaws, we are required to provide
at least 10 days' advance notice of any stockholder meeting, which would be the minimum amount of time a public stockholder would
have to determine whether to exercise conversion rights.
There is a nominal cost associated with
the above-referenced delivery process and the act of certificating the shares or delivering them through the DWAC System. The transfer
agent will typically charge the tendering broker $45.00 and it would be up to the broker whether or not to pass this cost on to
the holder. However, this fee would be incurred regardless of whether or not we require holders to deliver their shares prior to
the vote on the business combination in order to exercise conversion rights. This is because a holder would need to deliver shares
to exercise conversion rights regardless of the timing of when such delivery must be effectuated. However, in the event we require
stockholders to deliver their shares prior to the vote on the proposed business combination and the proposed business combination
is not consummated, this may result in an increased cost to stockholders.
The foregoing is different from the
procedures used by many blank check companies. Traditionally, in order to perfect conversion rights in connection with a blank
check company's business combination, the company 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 conversion 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 consummation 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 conversion 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 conversion rights,
to which stockholders were aware they needed to commit before the stockholder meeting, would become a "continuing" right
surviving past the consummation of the business combination until the holder delivered its certificate.
The requirement for physical or electronic
delivery prior to the meeting ensures that a holder's election to convert his or her shares is irrevocable once the business combination
is approved.
Any request to convert such shares once
made may be withdrawn at any time up to the vote on the proposed business combination. Furthermore, if a holder of a public share
delivered his or her certificate in connection with an election of their conversion and subsequently decides prior to the vote
on the proposed business combination not to elect to exercise such rights, he or she may simply request that the transfer agent
return the certificate (physically or electronically).
If the initial business combination
is not approved or completed for any reason, then our public stockholders who elected to exercise their conversion rights would
not be entitled to convert their shares for the applicable pro rata share of the trust account. In such case, we will promptly
return any shares delivered by public holders.
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Liquidation if No Business Combination
If we do not complete a business combination
within 9 months (or 15 months from the closing of this offering if we have filed a proxy statement, registration statement or
similar filing for an initial business combination within 9 months from the closing of this offering but have not completed the
initial business combination within such 9-month period) from the closing of this, 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 outstanding public shares 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 the case of (ii) and (iii) above)
to our obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law. At such
time, the rights will expire and holders of the rights will receive nothing upon a liquidation with respect to such rights, and
the rights will be worthless. However, if we anticipate that we may not be able to consummate our initial business combination
within 9 months and we have not filed a proxy statement, registration statement or similar filing for an initial business combination
by such date, our insiders or their affiliates may, but are not obligated to, extend the period of time to consummate a business
combination two times by an additional three months each time (for a total of up to 15 months to complete a business combination),
provided that, 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, the only way to extend the
time available for us to consummate our initial business combination in the absence of a proxy statement, registration statement
or similar filing is for our insiders or their affiliates or designees, upon five days' advance notice prior to the applicable
deadline, to deposit into the trust account $500,000, or $575,000 if the over-allotment option is exercised in full ($0.10 per
share in either case, or an aggregate of $1,000,000 (or $1,150,000 if the over-allotment option is exercised in full)), on or
prior to the date of the applicable deadline. In the event that they elected to extend the time to complete a business combination
and deposited the applicable amount of money into trust, the insiders would receive a non-interest bearing, unsecured promissory
note equal to the amount of any such deposit that will not be repaid in the event that we are unable to close a business combination
unless there are funds available outside the trust account to do so. Such notes would either be paid upon consummation of our
initial business combination, or, at the relevant insider's discretion, converted upon consummation of our business combination
into additional private units at a price of $10.00 per unit. Our stockholders have approved the issuance of the private
units upon conversion of such notes, to the extent the holder wishes to so convert such notes at the time of the consummation
of our initial business combination. In the event that we receive notice from our insiders five days prior to the applicable deadline
of their intent 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 insiders 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. To the extent that some, but not all, of our insiders,
decide to extend the period of time to consummate our initial business combination, such insiders (or their affiliates or designees)
may deposit the entire amount required.
Under the Delaware General Corporation
Law, 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 100% of our outstanding public shares in the event we do not complete our initial business combination within the required time
period may be considered a liquidation distribution under Delaware law. If the corporation complies with certain procedures set
forth in Section 280 of the Delaware General Corporation Law 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 redemptions
are made to stockholders, any liability of stockholders with respect to a redemption 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.
Furthermore, if the pro rata portion
of our trust account distributed to our public stockholders upon the redemption of 100% of our public shares in the event we do
not complete our initial business combination within the required time period is not considered a liquidation distribution under
Delaware law and such redemption distribution is deemed to be unlawful, then pursuant to Section 174 of the Delaware General Corporation
Law, 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. It is our intention to redeem our public shares as soon as reasonably
possible following the 9th, 12th or 15th month from the closing of this offering and, therefore, we do not intend to comply with
the above procedures. 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 well beyond the third anniversary of such date.
Because we will not be complying with
Section 280 of the Delaware General Corporation Law, Section 281(b) of the Delaware General Corporation Law 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 seeking to complete an initial business combination, the only
likely claims to arise would be from our vendors (such as lawyers, investment bankers, etc.) or prospective target businesses.
67
We will seek to have all third parties
(including any vendors or other entities we engage after this offering) and any prospective target businesses enter into valid
and enforceable agreements with us waiving any right, title, interest or claim of any kind they may have in or to any monies held
in the trust account. The underwriters in this offering will execute such a waiver agreement. As a result, the claims that could
be made against us will be limited, thereby lessening the likelihood that any claim would result in any liability extending to
the trust. We therefore believe that any necessary provision for creditors will be reduced and should not have a significant impact
on our ability to distribute the funds in the trust account to our public stockholders. Nevertheless, there is no guarantee that
vendors, service providers and prospective target businesses will execute such agreements. In the event that a potential contracted
party was to refuse to execute such a waiver, we will execute an agreement with that entity only if our management first determines
that we would be unable to obtain, on a reasonable basis, substantially similar services or opportunities from another entity willing
to execute such a waiver. Examples of instances where we may engage a third-party that refused to execute a waiver would be the
engagement of a third-party consultant who cannot sign such an agreement due to regulatory restrictions, such as our auditors who
are unable to sign due to independence requirements, or whose particular expertise or skills are believed by management to be superior
to those of other consultants that would agree to execute a waiver or a situation in which management does not believe it would
be able to find a provider of required services willing to provide the waiver. There is also no guarantee that, even if they execute
such agreements with us, they will not seek recourse against the trust account. Our insiders have agreed that they will be jointly
and severally 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 $10.00 per public share, except as to any claims by a third-party who executed a valid and enforceable agreement with
us waiving any right, title, interest or claim of any kind they may have in or to any monies held in 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. Our board of directors has evaluated our insiders' financial net worth and believes they will be able to satisfy
any indemnification obligations that may arise. However, our insiders may not be able to satisfy their indemnification obligations,
as we have not required our insiders to retain any assets to provide for their indemnification obligations, nor have we taken any
further steps to ensure that they will be able to satisfy any indemnification obligations that arise. Moreover, our insiders will
not be liable to our public stockholders and instead will only have liability to us. As a result, if we liquidate, the per-share
distribution from the trust account could be less than approximately $10.00 due to claims or potential claims of creditors. We
will distribute to all of our public stockholders, in proportion to their respective equity interests, an aggregate sum equal to
the amount then held in the trust account, inclusive of any interest not previously released to us, (subject to our obligations
under Delaware law to provide for claims of creditors as described below).
If we are unable to consummate an initial
business combination and are forced to redeem 100% of our outstanding public shares for a portion of the funds held in the trust
account, we anticipate notifying the trustee of the trust account to begin liquidating such assets promptly after such date and
anticipate it will take no more than 10 business days to effectuate the redemption of our public shares. Our insiders have waived
their rights to participate in any redemption with respect to their insider shares. We will pay the costs of any subsequent liquidation
from our remaining assets outside of the trust account. If such funds are insufficient, our insiders have agreed to pay the funds
necessary to complete such liquidation (currently anticipated to be no more than approximately $15,000) and have agreed not to
seek repayment of such expenses. Each holder of public shares will receive a full pro rata portion of the amount then in the trust
account, plus any pro rata interest earned on the funds held in the trust account and not previously released to us or necessary
to pay our taxes. The proceeds deposited in the trust account could, however, become subject to claims of our creditors that are
in preference to the claims of public stockholders.
Our public stockholders shall be entitled
to receive funds from the trust account only in the event of our failure to complete our initial business combination in the required
time period or if the stockholders seek to have us convert their respective shares of common stock upon a business combination
which is actually completed by us. In no other circumstances shall a stockholder have any right or interest of any kind to or in
the trust account.
If we are forced to file a bankruptcy
case or an involuntary bankruptcy case is filed against us which 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
redemption or conversion amount received by public stockholders may be less than $10.00.
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. Claims may be brought against
us for these reasons.
68
Certificate of Incorporation
Our certificate of incorporation contains
certain requirements and restrictions relating to this offering that will apply to us until the consummation of our initial business
combination. If we hold a stockholder vote to amend any provisions of our certificate of incorporation relating to stockholder's
rights or pre-business combination activity (including the substance or timing within which we have to complete a business combination),
we will 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 earned
on the funds held in the trust account and not previously released to us to pay our franchise and income taxes, divided by the
number of then outstanding public shares, in connection with any such vote. Our insiders have agreed to waive any conversion rights
with respect to any insider shares, private shares and any public shares they may hold in connection with any vote to amend our
certificate of incorporation. Specifically, our certificate of incorporation provides, 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 public stockholders may seek to convert their shares of common stock, regardless of whether they vote for or against the proposed business combination, into a portion of the aggregate amount then on deposit in the trust account, net of taxes payable, or (2) provide our stockholders with the opportunity to sell 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, net of taxes payable, in each case subject to the limitations described herein;
●
we will consummate our initial business combination only if public stockholders do not exercise conversion rights in an amount that would cause our net tangible assets to be less than $5,000,001 and 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 9 months (or 12 or 15 months, as applicable) the closing of this offering, then our existence will terminate and we will distribute all amounts in the trust account to all of our public holders of shares of common stock;
●
upon the consummation of this offering, $50,000,000, or $57,500,000 if the over-allotment option is exercised in full, shall be placed into the trust account;
●
we may not consummate any other business combination, merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar transaction prior to our initial business combination; 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.
Potential Revisions to Agreements with Insiders
Each of our insiders has entered into
letter agreements with us pursuant to which each of them has agreed to do certain things relating to us and our activities prior
to a business combination. We could seek to amend these letter agreements without the approval of stockholders, although we have
no intention to do so. In particular:
●
Restrictions relating to liquidating the trust account if we failed to consummate a business combination in the time-frames specified above could be amended, but only if we allowed all stockholders to redeem their shares in connection with such amendment;
●
Restrictions relating to our insiders being required to vote in favor of a business combination or against any amendments to our organizational documents could be amended to allow our insiders to vote on a transaction as they wished;
●
The requirement of members of the management team to remain our officer or director until the closing of a business combination could be amended to allow persons to resign from their positions with us if, for example, the current management team was having difficulty locating a target business and another management team had a potential target business;
●
The restrictions on transfer of our securities could be amended to allow transfer to third parties who were not members of our original management team;
●
The obligation of our management team to not propose amendments to our organizational documents could be amended to allow them to propose such changes to our stockholders;
●
The obligation of insiders to not receive any compensation in connection with a business combination could be modified in order to allow them to receive such compensation; and
●
The requirement to obtain a valuation for any target business affiliated with our insiders, in the event it was too expensive to do so.
69
Except as specified above, stockholders
would not be required to be given the opportunity to redeem their shares in connection with such changes. Such changes could result
in:
●
Our having an extended period of time to consummate a business combination (although with less in trust as a certain number of our stockholders would certainly redeem their shares in connection with any such extension);
●
Our insiders being able to vote against a business combination or in favor of changes to our organizational documents;
●
Our operations being controlled by a new management team that our stockholders did not elect to invest with;
●
Our insiders receiving compensation in connection with a business combination; and
●
Our insiders closing a transaction with one of their affiliates without receiving an independent valuation of such business.
We will not agree to any such changes
unless we believed that such changes were in the best interests of our stockholders (for example, if we believed such a modification
were necessary to complete a business combination). Each of our officers and directors has fiduciary obligations to us requiring
that he or she act in our best interests and the best interests of our stockholders.
Competition
In identifying, evaluating and selecting
a target business, we may encounter intense competition from other entities having a business objective similar to ours. Many of
these entities are well established and have extensive experience identifying and effecting business combinations directly or through
affiliates. Many of these competitors possess greater technical, human and other resources than us and our financial resources
will be relatively limited when contrasted with those of many of these competitors. While we believe there may be numerous potential
target businesses that we could complete a business combination with utilizing the net proceeds of this offering, our ability to
compete in completing a business combination with certain sizable target businesses may be limited by our available financial resources.
The following also may not be viewed
favorably by certain target businesses:
●
our obligation to seek stockholder approval of our initial business combination or engage in a tender offer may delay the completion of a transaction;
●
our obligation to convert shares of common stock held by our public stockholders may reduce the resources available to us for our initial business combination;
●
our obligation to pay the deferred underwriting commission to the underwriters upon consummation of our initial business combination;
●
our obligation to either repay working capital loans that may be made to us by our insiders or their affiliates;
●
our obligation to register the resale of the insider shares, as well as the private units (and underlying securities) and any shares issued to our insiders or their affiliates upon conversion of working capital loans; and
●
the impact on the target business' assets as a result of unknown liabilities under the securities laws or otherwise depending on developments involving us prior to the consummation of a business combination.
Any of these factors may place us at
a competitive disadvantage in successfully negotiating our initial business combination. Our management believes, however, that
our status as a public entity and potential access to the United States public equity markets may give us a competitive advantage
over privately held entities having a similar business objective as ours in connection with an initial business combination with
a target business with significant growth potential on favorable terms.
If we succeed in effecting our initial
business combination, there will be, in all likelihood, intense competition from competitors of the target business. Subsequent
to our initial business combination, we may not have the resources or ability to compete effectively.
Facilities
We currently maintain our principal
executive offices at Room 368, 302 Buwei, 211 Fute North Road, China (Shanghai) Pilot Free Trade Zone, 200131. This space is provided
to us by our sponsor, at no cost. We consider our current office space, combined with the other office space otherwise available
to our executive officers, adequate for our current operations.
70
Employees
We have two executive officers. These
individuals are not obligated to devote any specific number of hours to our matters and intend to devote only as much time as they
deem necessary to our affairs. The amount of time they will devote in any time period will vary based on whether a target business
has been selected for the business combination and the stage of the business combination process the company is in. Accordingly,
once a suitable target business to consummate our initial business combination with has been located, management will spend more
time investigating such target business and negotiating and processing the business combination (and consequently spend more time
on our affairs) than had been spent prior to locating a suitable target business. We presently expect our executive officers to
devote an average of approximately 10 hours per week to our business. We do not intend to have any full time employees prior to
the consummation of our initial business combination.
Periodic Reporting and Audited Financial Statements
We have registered our units, common
stock and rights 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 report will contain financial
statements audited and reported on by our independent registered public accountants.
We will provide stockholders with audited
financial statements of the prospective target business as part of any proxy solicitation materials or tender offer documents sent
to stockholders to assist them in assessing the target business. These financial statements will need to be prepared in accordance
with or reconciled to United States GAAP or IFRS as issued by the IASB. A particular target business identified by us as a potential
business combination candidate may not have the necessary financial statements. To the extent that this requirement cannot be met,
we may not be able to consummate our initial business combination with the proposed target business.
We may be required by the Sarbanes-Oxley
Act to have our internal control over financial reporting audited for the year ending December 31, 2022. A target company
may not be in compliance with the provisions of the Sarbanes-Oxley Act regarding the adequacy of their internal control over financial
reporting. The development of the internal control over financial reporting of any such entity to achieve compliance with the
Sarbanes-Oxley Act may increase the time and costs necessary to complete any such initial business combination.
JOBS Act
We are an "emerging growth company,"
as defined in Section 2(a) of 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 until we are no longer an "emerging
growth company."
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 $1.0 billion in non-convertible debt during the prior three-year
period. References herein to "emerging growth company" shall have the meaning associated with it in the JOBS Act.
Legal Proceedings
There is no material litigation, arbitration,
governmental proceeding or any other legal proceeding currently pending or known to be contemplated against us or any members
of our management team in their capacity as such, and we and the members of our management team have not been subject to any such
proceeding in the 10 years preceding the date of this prospectus.
71
Comparison to Offerings 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 their over-allotment option. None of the
provisions of Rule 419 apply to our offering.
Terms of the Offering
Terms Under a Rule 419 Offering
Escrow of offering proceeds
$50,000,000 of the net offering proceeds and proceeds from the sale of the private units will be deposited into a trust account in the United States at JPMorgan Chase Bank, maintained by Continental Stock Transfer & Trust Company, acting as trustee.
$42,300,000 of the offering proceeds 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
$50,000,000
of net offering proceeds and proceeds from the sale of the private units held in the trust account will be invested only in U.S.
government treasury bills, bonds or notes with a maturity of 185 days or less or in money market funds meeting the applicable
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.
Limitation on fair value or net assets of target business
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 value of the trust account (excluding any deferred underwriter's 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.
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 may commence trading on or promptly after the date of this prospectus. The common stock
and rights comprising the units will begin to trade separately on the 90
th
day after the date of this prospectus unless Chardan Capital Markets, LLC informs us of its decision to allow earlier separate trading (based upon its assessment of the relative strengths of the securities markets and small capitalization companies in general, and the trading pattern of, and demand for, our securities in particular), provided we have filed with the SEC a Current Report on Form 8-K, which includes an audited balance sheet reflecting our receipt of the proceeds of this offering.
No trading of the units or the underlying common stock
and rights would be permitted until the completion of a business combination. During this period, the securities would be held in the escrow or trust account.
Election to remain an investor
We will either (i) give our stockholders the opportunity to vote on the business combination or (ii) provide our public stockholders with the opportunity to sell their shares of our common stock for cash equal to their pro rata share of the aggregate amount then on deposit in the trust account, less taxes. If we hold a meeting to approve a proposed business combination, we will send each stockholder a proxy statement containing information required by the SEC. Alternatively, if we do not hold a meeting and instead conduct a tender offer, we will conduct such tender offer in accordance with 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 as we would have included in a proxy statement. Under Delaware law and our bylaws, we must provide at least 10 days' advance notice of any meeting of stockholders. Accordingly, this is the minimum amount of time we would need to provide holders to determine whether to exercise their rights to convert their shares into cash or to remain an investor in our company.
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.
72
Business combination deadline
Pursuant to our certificate of incorporation, if we are unable to complete our initial business combination within 9 months (or 12 or 15 months, as applicable) 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 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 the case of (ii) and (iii) above) 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.
Interest earned on the funds in the trust account
There can be released to us, from time to time, any interest earned on the funds in the trust account that we may need to pay our tax obligations.
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.
Release of funds
Except for interest earned on the funds in the trust account that may be released to us to pay our tax obligations the proceeds held in the trust account will not be released until the earlier of the completion of our initial business combination and our liquidation upon failure to effect our initial business combination within the allotted time.
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.
73
MANAGEMENT
Directors and Executive Officers
Our current directors, director nominees
and executive officers are as follows:
Name
Age
Position
Sophie Ye Tao
42
Chairman and Chief Executive Officer
Philip Chun-Hun Kwan
38
Chief Financial Officer and Director
Justin Chang
38
Director
Bryant Chou
39
Director
Greg
Chang
41
Director
Sophie Ye Tao,
our President and Chief Executive Officer, has been an active investor in China and the US since 2007. Throughout her investment
career, she has invested in companies including Evernote, 360 DigiTech, Inc. (NASDAQ: QFIN), a leading fintech platform in China,
Tricorn Technology, a leading China-based AI company focused on natural language processing which was later acquired by Tencent
in 2020, Shanghai Canxing Culture & Broadcast Company, the largest unscripted content producer in China and Ningmeng
Pictures, a leading Chinese studio focused on television and film production. From 2016 to 2021, Ms. Tao was a partner at
Hanfor Capital Management, a China-based private equity firm and focused on investments in the TMT and consumer industries.
She was a co-founder and partner at Ray Shi Capital Group from 2010 to 2015, a US registered investment adviser focusing on equity
investments in Chinese companies listed in Hong Kong and the U.S. Ms. Tao was the senior investment manager for Greater China
at Vision Capital Advisors in New York City from 2007 to 2010. At Vision, Ms. Tao helped launch and co-managed the Vision Opportunity
China Fund, focusing on sourcing, structuring and investing in small- and medium-sized enterprises in China through reverse mergers,
private placements and private equity. Previously, Ms. Tao worked at Banc of America Securities LLC in New York City in its equity
capital markets group between 2005 and 2007, where she originated and executed convertible bond and other equity–linked
issuances. She also worked at NERA Economic Consulting in its Chicago and New York City offices between 2003 and 2005 where she
helped provide economics and econometrics analysis and recommendations to multi-national corporations involved in antitrust and
securities litigations. Before that, Ms. Tao worked as a policy consultant at the Organization for Economic Cooperation and Development
(OECD) in Paris from 2001 to 2002, where she advised countries on their economic and regulatory reform policies. Ms. Tao graduated
from the Woodrow Wilson School of Public and International Affairs at Princeton University in 2003 with a Master of Public Affairs
(MPA) degree concentrating in economics and advanced quantitative analysis. She also graduated from the University of International
Business & Economics in Beijing with a Bachelor of Laws degree in 2000
.
We believe that Ms. Tao is
well-qualified to serve as a member of our board of directors due to her extensive experience, contacts, and relationships within the TMT sector in Asia and the U.S.
Philip Chun-Hun Kwan
,
our Chief Financial Officer and a member of our board of directors since our inception, has spent his career in the TMT industry,
as an investor, advisor and operator since 2004. Mr. Kwan is currently the CEO of Palestra Sports, a sports-focused start-up based
in China which he co-founded in June 2017. From 2010 to 2017, Mr. Kwan was a senior vice president at The Raine Group ("Raine"),
where he was a founding member of the firm's China practice based in Beijing and subsequently Shanghai. Raine is one of
the world's leading TMT-focused merchant banks, with total assets under management of over $3.5 billion. At Raine, Mr. Kwan
provided investment banking advisory services to leading Chinese and international media and entertainment companies (primarily
mergers and acquisitions and large-scale capital raise transactions), and also worked on the fund side where he helped source
and execute direct principal investments in China. Representative transactions during his time at Raine include the $4.2 billion
sale of the Ultimate Fighting Championship to WME IMG, the sale of 13% of Manchester City Football Group to CMC Capital and CITIC
for $400 million, Perfect World's $250 million investment into Universal Studios' film slate, the creation of Flagship
Entertainment, the Chinese film studio co-financed by Warner Bros and CMC Capital, the sale of PPTV to Suning for $420 million,
and the spin-off of and $80 million capital raise for IMAX China, among others. In the Singapore region, Mr. Kwan also
represented Wego in its Series A capital raise. Prior to joining Raine, Mr. Kwan worked at Southfield Capital, a middle market
private equity firm backed by Canyon Capital Advisors focused on North American buyouts. During his time at Southfield, he executed
a number of leveraged buyout transactions across a range of different industries. Mr. Kwan started his professional career in
the mergers and acquisitions advisory group at Evercore Partners in New York. He graduated from The Wharton School at the University
of Pennsylvania with a Bachelor of Science in Economics in 2004. Mr. Kwan is currently married to Ms. Tao.
We believe Mr. Kwan is well-qualified
to serve as a member of our board of directors due to his transaction experience, network, and operational experience within the
TMT sector globally.
74
Justin Chang
has served
as our independent director since April, 2021. Mr. Chang has 15 years of technology, product development, and entrepreneurial
experience. Currently, Mr. Chang is the vice president of product at ClassPass, a marketplace aggregator of local fitness, wellness,
and beauty merchants. ClassPass provides customers with a flexible membership that gives them access toc 40,000 boutique studios,
gyms, and wellness facilities across 28 countries. He joined ClassPass in 2014 after its seed financing, helping scale the company
from 1 city to 2,500 cities by leading the engineering, product management, product design, user research, and product operations
teams. In 2019, Mr. Chang helped launch ClassPass China, a localized version of the ClassPass experience. Justin also sits on
the ClassPass executive team where he oversees global product strategy and product development. Outside ClassPass, Mr. Chang regularly
advises early stage founders and executives on strategy, growth, and product. From 2011-2014, Justin worked at AHAlife, a luxury
e-commerce marketplace, where he led the product development of its merchant portal and augmented reality shopping experiences.
Prior to AHAlife, Mr. Chang co-founded MatchBright in 2006, a career discovery platform that leveraged big data to help job seekers
discover best fit careers, and operated its business until 2010. Mr. Chang began his career as a consultant for Bain & Company
where he advised Fortune 500 companies in consumer products, retail, TMT, banking, and healthcare industries from 2004 to 2006.
Justin graduated magna cum laude from The Wharton School at the University of Pennsylvania where he holds degrees in Finance and
Management in 2004.
We believe Mr. Chang is well-qualified
to serve as a member of our board of directors due to his operational experience and relationships within the TMT sector.
Bryant Chou
has been a
member of our board of directors since April, 2021. Mr. Bryant Chou has experience in corporate finance and the TMT industry
across the US, Asia and Europe. Since 2012, Bryant has been the CEO of Yi Shi Yi Se (Beijing) Culture Communication Co., Ltd.
and its predecessor company, VICE China, where Bryant oversees the launch and expansion of the local entity, leads commercial
activities and serves as the main liaison for key business partners domestically and across the APAC region. Prior to this, Mr.
Chou worked at DMG Entertainment, a Chinese advertising and entertainment agency from 2011 to 2012. From 2007 to 2008, he was
a consultant at JL McGregor, a boutique equity research firm, from 2007 to 2008. Bryant began his career in investment banking
in New York at Miller Buckfire from 2003 to 2006, a leading boutique restructuring firm. Bryant graduated from The Wharton School
at the University of Pennsylvania in December 2002, receiving a Bachelor of Science in Economics with concentrations in Finance
and Management.
We believe Mr. Chou is well-qualified
to serve as a member of our board of directors due to his experience and relationships within the TMT sector in China and the U.S.
Greg Chang
has been a member of our board of directors since April, 2021, and brings his more than 15 years of experience in technology,
gaming, business development, marketing, and entrepreneurship. Since 2020, Mr. Chang has been the general manager of RealTime
Technology, a SAAS company servicing the telecom, retail, and gaming industries. He is also an investor in multiple startups and
a mentor at SOSV, one of the most active VCs in the Asia region. From 2015 until 2019, Mr. Chang was the director of games and
mobile, Greater China, at The Walt Disney Company where he was responsible for popular titles such as Marvel Future Fight, Star
Wars Commander, and Disney TsumTsum. He also developed several multi-million dollar licensing deals with some of the top technology
companies in China. From 2013 to 2015, he was the vice president of Asia at Glu Mobile where he initiated Glu's $100M+ strategic
partnership and investment with Tencent and helped launch several popular games including Deer Hunter, Eternity Warriors, and
Kim Kardashian: Hollywood in the region. Prior to that, Mr. Chang was the director of business at NCSoft Taiwan from 2011 to 2012
and vice president at The Ivy Group (a Temasek portfolio company) from 2009 to 2011. Mr. Chang graduated from the University of
California, Berkeley with a Bachelor of Arts in 2001 and also received an MBA from Columbia Business School in 2009.
We believe Mr. Chang is well-qualified
to serve as a member of our board of directors due to his operational and entrepreneurial experience and relationships within
the TMT sector.
Number and Terms of Office of Officers and Directors
Upon consummation of this offering,
our board of directors will have five members, three of whom will be deemed "independent" under SEC and Nasdaq rules.
We may not hold an annual meeting of stockholders until after we consummate our initial business combination. Our officers are
appointed 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. Our bylaws
provide that our directors may consist of a chairman of the board, and that our officer may consist of chief executive officer,
president, chief financial officer,  vice president(s), secretary, treasurer and such other officers
as may be determined by the board of directors.
Executive Compensation
No executive officer has received any
cash compensation for services rendered to us. No compensation or fees of any kind, including finder's fees, consulting fees and
other similar fees, will be paid to our insiders or any of the members of our management team, for services rendered prior to or
in connection with the consummation of our initial business combination (regardless of the type of transaction that it is). However,
such individuals will receive reimbursement for any out-of-pocket expenses incurred by them in connection with activities on our
behalf, such as identifying potential target businesses, performing business due diligence on suitable target businesses and business
combinations as well as traveling to and from the offices, plants or similar locations of prospective target businesses to examine
their operations. There is no limit on the amount of out-of-pocket expenses reimbursable by us; provided, however, that to the
extent such expenses exceed the available proceeds not deposited in the trust account and the interest income earned on the amounts
held in the trust account, such expenses would not be reimbursed by us unless we consummate an initial business combination.
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 stockholders, to the extent then known, in the proxy solicitation materials furnished
to our stockholders. It is unlikely the amount of such compensation will be known at the time of a stockholder meeting held to
consider our initial business combination, as it will be up to the directors of the post-combination business to determine executive
and director compensation. In this event, such compensation will be publicly disclosed at the time of its determination in a Current
Report on Form 8-K, as required by the SEC.
75
Director Independence
Nasdaq listing standards require that within
one year of the listing of our securities on the Nasdaq Capital Market we have at least three independent directors and that a majority
of our board of directors be independent. An "independent director" 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. Our Board of Directors had determined that Bryant Chou, Greg Chang and Justin Chang are "independent director"
as defined in the Nasdaq listing standards and applicable SEC rules. Our independent directors will have regularly scheduled meetings
at which only independent directors are present.
We will only enter into a business combination
if it is approved by a majority of our independent directors. Additionally, we will only enter into transactions with our officers
and directors and their respective affiliates that are on terms no less favorable to us than could be obtained from independent
parties. Any related-party transactions must be approved by our audit committee and a majority of disinterested directors.
Audit Committee
Effective as of the date of this prospectus,
we will establish an audit committee of the board of directors, which will consist of Bryant Chou, Greg Chang and Justin
Chang, each of whom is an independent director. Bryant Chou will serve as chairman of the audit committee. The audit committee's
duties, which are specified in our Audit Committee Charter, include, but are not limited to:
●
reviewing
and discussing with management and the independent auditor the annual audited financial statements, and recommending to the board
whether the audited financial statements should be included in our Form 10-K;
●
discussing
with management and the independent auditor significant financial reporting issues and judgments made in connection with the preparation
of our financial statements;
●
discussing
with management major risk assessment and risk management policies;
●
monitoring
the independence of the independent auditor;
●
verifying
the rotation of the lead (or coordinating) audit partner having primary responsibility for the audit and the audit partner responsible
for reviewing the audit as required by law;
●
reviewing
and approving all related-party transactions;
●
inquiring
and discussing with management our compliance with applicable laws and regulations;
●
pre-approving
all audit services and permitted non-audit services to be performed by our independent auditor, including the fees and terms of
the services to be performed;
●
appointing
or replacing the independent auditor;
●
determining
the compensation and oversight of the work of the independent auditor (including resolution of disagreements between management
and the independent auditor regarding financial reporting) for the purpose of preparing or issuing an audit report or related
work;
●
establishing
procedures for the receipt, retention and treatment of complaints received by us regarding accounting, internal accounting controls
or reports which raise material issues regarding our financial statements or accounting policies; and
●
approving
reimbursement of expenses incurred by our management team in identifying potential target businesses.
Financial Experts on Audit Committee
The audit committee will at all times
be composed exclusively of "independent directors" who are "financially literate" as defined under the Nasdaq
listing standards. The Nasdaq listing standards define "financially literate" as being able to read and understand fundamental
financial statements, including a company's balance sheet, income statement and cash flow statement.
76
In addition, we must certify to Nasdaq that
the committee has, and will continue to have, at least one member who has past employment experience in finance or accounting, requisite
professional certification in accounting, or other comparable experience or background that results in the individual's financial
sophistication. The board of directors has determined that Bryant Chou qualifies as an "audit committee financial expert,"
as defined under rules and regulations of the SEC.
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 Bryant
Chou, Greg Chang and Justin Chang, each of whom is an independent director. Justin Chang will serve as chairman of the compensation
committee. 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's 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. Bryant Chou, Greg
Chang and Justin Chang will participate in the consideration and recommendation of director nominees. 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 election at the next annual meeting of stockholders (or, if applicable, a special meeting of stockholders). Our stockholders
that wish to nominate a director for election to the Board should follow the procedures set forth in our bylaws.
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.
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Compensation Committee Interlocks and Insider Participation
We may not have a compensation committee
in place prior to the completion of our initial business combination. Any executive compensation matters that arise prior to the
time we have a compensation committee in place will be determined by our independent directors. None of our directors who currently
serve as members of our compensation committee is, or has at any time in the past been, one of our officers or employees. None
of our executive officers currently serves, or in the past year has served, as a member of the compensation committee of any other
entity that has one or more executive officers serving on our board of directors. None of our executive officers currently serves,
or in the past year has served, as a member of the board of directors of any other entity that has one or more executive officers
serving on our compensation committee.
Code of Ethics
Effective upon consummation of this
offering, we will adopt a code of ethics that applies to all of our executive officers, directors and employees. The code of ethics
codifies the business and ethical principles that govern all aspects of our business.
Conflicts of Interest
Investors should be aware of the following
potential conflicts of interest:
●
None of our officers and directors is required to commit their full time to our affairs and, accordingly, they may have conflicts of interest in allocating their time among various business activities.
●
In
the course of their other business activities, our officers and directors may become aware of investment and business opportunities
which may be appropriate for presentation to our company as well as the other entities with which they are affiliated. Our directors
and officers may continue to be involved in the formation of other special purpose acquisition companies in the future.
Thus, our officers and directors may have conflicts of interest in determining to which entity a particular business opportunity
should be presented.
●
Our officers and directors may in the future become affiliated with entities, including other blank check companies, engaged in business activities similar to those intended to be conducted by our company.
●
Unless we consummate our initial business combination, our officers, directors and other insiders will not receive reimbursement for any out-of-pocket expenses incurred by them to the extent that such expenses exceed the amount of available proceeds not deposited in the trust account.
●
The insider shares beneficially owned by our officers and directors will be released from escrow only if our initial business combination is successfully completed. Additionally, if we are unable to complete an initial business combination within the required time frame, our officers and directors will not be entitled to receive any amounts held in the trust account with respect to any of their insider shares or private units. Furthermore, SPK Acquisition LLC has agreed that the private units will not be sold or transferred by it until after we have completed our initial business combination. For the foregoing reasons, our board may have a conflict of interest in determining whether a particular target business is an appropriate business with which to effect our initial business combination.
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.
Accordingly, as a result of multiple
business affiliations, our officers and directors may have similar legal obligations relating to presenting business opportunities
meeting the above-listed criteria to multiple entities. Furthermore, our certificate of incorporation provides that the doctrine
of corporate opportunity will not apply with respect to any of our officers or directors in circumstances where the application
of the doctrine would conflict with any fiduciary duties or contractual obligations they may have. In order to minimize potential
conflicts of interest which may arise from multiple affiliations, our officers and directors (other than our independent directors)
have agreed to present to us for our consideration, prior to presentation to any other person or entity, any suitable opportunity
to acquire a target business, until the earlier of: (1) our consummation of an initial business combination and (2) 9 months from
the date of this prospectus (or 12 or 15 months if we have extended the period of time to complete a business combination as described
in this prospectus). This agreement is, however, subject to any pre-existing fiduciary and contractual obligations such officer
or director may from time to time have to another entity. Accordingly, if any of them becomes aware of a business combination opportunity
which is suitable for an entity to which he or she has pre-existing fiduciary or contractual obligations, he or she will honor
his or her fiduciary or contractual 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 pre-existing fiduciary duties or contractual
obligations of our officers and directors will materially undermine our ability to complete our business combination because in
most cases the affiliated companies are closely held entities controlled by the officer or director or the nature of the affiliated
company's business is such that it is unlikely that a conflict will arise.
78
The following table summarizes the
current material pre-existing fiduciary or contractual obligations of our officers, directors and director nominees:
Name of Individual
Name of Affiliated Company
Entity's Business
Affiliation
Philip Chun-Hun Kwan
Palestra Sports China
Sports
Chief Executive Officer and Co-Founder
Greg
Chang
RealTime
Technology
SaaS
General
Manager
Bryant Chou
Yi Shi Yi Se (Beijing) Culture Communication Co., Ltd.
Entertainment
Chief Executive Officer
Justin Chang
ClassPass Inc.
Technology
Vice President of Product
Our insiders, including our officers
and directors, have agreed to vote any shares of common stock held by them in favor of our initial business combination. In addition,
they have agreed to waive their respective rights to receive any amounts held in the trust account with respect to their insider
shares and private shares if we are unable to complete our initial business combination within the required time frame. If they
purchase shares of common stock in this offering or in the open market, however, they would be entitled to receive their pro rata
share of the amounts held in the trust account if we are unable to complete our initial business combination within the required
time frame, but have agreed not to convert such shares in connection with the consummation of our initial business combination.
All ongoing and future transactions
between us and any of our officers and directors or their respective affiliates will be on terms believed by us to be no less favorable
to us than are available from unaffiliated third parties. Such transactions will require prior approval by our audit committee
and a majority of our uninterested "independent" directors, or the members of our board who do not have an interest in
the transaction, in either case who had access, at our expense, to our attorneys or independent legal counsel. We will not enter
into any such transaction unless our audit committee and a majority of our disinterested "independent" directors determine
that the terms of such transaction are no less favorable to us than those that would be available to us with respect to such a
transaction from unaffiliated third parties.
To further minimize conflicts of interest,
we have agreed not to consummate our initial business combination with an entity that is affiliated with any of our officers, directors
or other insiders, unless we have obtained (i) an opinion from an independent investment banking firm that the business combination
is fair to our unaffiliated stockholders from a financial point of view and (ii) the approval of a majority of our disinterested
and independent directors (if we have any at that time). In no event will our insiders or any of the members of our management
team be paid any finder's fee, consulting fee or other similar compensation prior to, or for any services they render in order
to effectuate, the consummation of our initial business combination (regardless of the type of transaction that it is).
Limitation on Liability and Indemnification of Directors
and Officers
Our certificate of incorporation provides
that our directors and officers 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 certificate of incorporation provides that our directors will not be personally
liable for monetary damages to us for breaches of their fiduciary duty as directors, unless they violated their duty of loyalty
to us or our stockholders, acted in bad faith, knowingly or intentionally violated the law, authorized unlawful payments of dividends,
unlawful stock purchases or unlawful redemptions, or derived an improper personal benefit from their actions as directors. Notwithstanding
the foregoing, as set forth in our certificate of incorporation, such indemnification will not extend to any claims our insiders
may make to us to cover any loss that they may sustain as a result of their agreement to pay debts and obligations to target businesses
or vendors or other entities that are owed money by us for services rendered or contracted for or products sold to us as described
elsewhere in this prospectus.
79
Our bylaws also will permit us to secure
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 indemnification. We will purchase a policy of directors' and officers' liability insurance that insures
our directors and officers against the cost of defense, settlement or payment of a judgment in some circumstances and insures us
against our obligations to indemnify the directors and officers.
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 directors and officers, 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 directors and officers pursuant to these provisions. We believe that these provisions,
the insurance and the indemnity agreements are necessary to attract and retain talented and experienced directors and officers.
Insofar as indemnification for liabilities
arising under 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.
80
PRINCIPAL STOCKHOLDERS
The following table sets forth information
regarding the beneficial ownership of our shares of common stock as of the date of this prospectus and upon completion of the sale
of our shares of common stock included in the units offered by this prospectus (assuming none of the individuals listed purchase
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 officers, directors and director nominees; and
●
all of our officers, directors and director nominees as a group.
Amounts shown in the "After Offering"
column are calculated assuming no exercise of the over-allotment option and, therefore, the forfeiture of an aggregate of 187,500
shares of common stock held by our insiders. 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.
Prior to Offering
After Offering
(2)
Name and Address of Beneficial Owner
(1)
Amount and
Nature of
Beneficial
Ownership of
Common Stock
Approximate
Percentage of
Outstanding
Shares of
Common Stock
Amount and
Nature of
Beneficial
Ownership of
Common
Stock
(3)
Approximate
Percentage of
Outstanding
Shares of
Common Stock
SPK Acquisition LLC (our sponsor)
(4)
1,437,500
100
%
1,455,000
(2)(3)
22.45
%
Sophie Ye Tao
—
—
%
—
—
%
Philip Chun-Hun Kwan
(5)
1,437,500
100
%
1,455,000
(2)(3)
22.45
%
Justin Chang
—
—
%
—
—
%
Bryant Chou
—
—
%
—
—
%
Greg Chang
—
—
—
—
%
All officers and directors as a group (5 individuals)
1,437,500
100
%
1,455,000
(2)(3)
22.45
%
*
Less than 1%.
(1)
Unless otherwise indicated, the business address of each of the individuals is c/o SPK Acquisition Corp., Room 368, 302 Buwei, 211 Fute North Road, China (Shanghai) Pilot Free Trade Zone, 200131, and our telephone number is (86) 13439129879.
(2)
Assumes
    no exercise of the over-allotment option and, therefore, an aggregate of 187,500 shares of common stock held by our insiders
    are forfeited.
(3)
Includes shares underlying private units. Does not include beneficial ownership of any shares of common stock underlying outstanding private rights as such shares are not issuable within 60 days of the date of this prospectus.
(4)
Philip Chun-Hun Kwan has voting and dispositive power over the shares owned by SPK Acquisition LLC.
(5)
Consists
    of shares owned by SPK Acquisition LLC, over which Philip Chun-Hun Kwan has voting and dispositive power.
Immediately after this offering, our
insiders will beneficially own approximately 22.45% of the then issued and outstanding shares of common stock (assuming they do
not purchase any units offered by this prospectus).
Because of the ownership block held
by our insiders, such individuals may be able to effectively exercise influence over all matters requiring approval by our stockholders,
including the election of directors and approval of significant corporate transactions other than approval of our initial business
combination.
If the underwriters do not exercise
all or a portion of the over-allotment option, an aggregate of up to 187,500 insider shares will be forfeited in amounts as determined
amongst the holders of such insider shares and not proportional to their ownership percentages in our shares of common stock. Only
a number of shares necessary to maintain our insiders' collective 20% ownership interest in our shares of common stock after giving
effect to the offering and the exercise, if any, of the underwriters' over-allotment option will be forfeited.
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All of the insider shares outstanding
prior to the date of this prospectus will be placed in escrow with Continental Stock Transfer & Trust Company, as escrow
agent. Subject to certain limited exceptions, 50% of these shares will not be transferred, assigned, sold or released from escrow
until the earlier of six months after the date of the consummation of our initial business combination and the date the closing
price of our common stock equals or exceeds $12.50 per share (as adjusted for stock splits, stock dividends, reorganizations and
recapitalizations) for any 20 trading days within any 30-trading day period commencing after our initial business combination and
the remaining 50% of the insider shares will not be transferred, assigned, sold or released from escrow until six months after
the date of the consummation of our initial business combination or earlier in either case if, subsequent to our initial business
combination, we complete a liquidation, merger, stock exchange or other similar transaction which results in all of our stockholders
having the right to exchange their shares of common stock for cash, securities or other property. Up to 187,500 of the insider
shares may also be released from escrow earlier than this date for cancellation if the over-allotment option is not exercised in
full as described above.
During the escrow period, the holders
of these shares will not be able to sell or transfer their securities except (1) transfers among the insiders, to our officers,
directors, advisors and employees, (2) transfers to an insider's affiliates or its members upon its liquidation, (3) transfers
to relatives and trusts for estate planning purposes, (4) transfers by virtue of the laws of descent and distribution upon death,
(5) transfers pursuant to a qualified domestic relations order, (6) private sales made at prices no greater than the price at which
the securities were originally purchased or (7) transfers to us for cancellation in connection with the consummation of an initial
business combination, in each case (except for clause 7) where the transferee agrees to the terms of the escrow agreement and forfeiture,
as the case may be, as well as the other applicable restrictions and agreements of the holders of the insider shares. If dividends
are declared and payable in shares of common stock, such dividends will also be placed in escrow. If we are unable to effect a
business combination and liquidate, there will be no liquidation distribution with respect to the insider shares.
SPK Acquisition LLC will purchase the
private units for an aggregate purchase price of $2,050,000 (or $2,200,000 if the underwriters' over-allotment option is exercised
in full) from us. These purchases will take place on a private placement basis simultaneously with the consummation of this offering.
The private units are identical to the units sold in this offering. Additionally, SPK Acquisition LLC has agreed not to transfer,
assign or sell any of the private units or underlying securities (except to the same permitted transferees as the insider shares
and provided the transferees agree to the same terms and restrictions as the permitted transferees of the insider shares must agree
to, each as described above) until the completion of our initial business combination.
In order to meet our working capital
needs following the consummation of this offering, our insiders 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 lender's
discretion, up to $1,500,000 of the notes may be converted upon consummation of our business combination into additional private
units at a price of $10.00 per unit. Our stockholders have approved the issuance of the private units upon conversion of such notes,
to the extent the holder wishes to so convert such notes at the time of the consummation of our initial business combination. If
we do not complete a business combination, any outstanding loans from our insiders or their affiliates, will be repaid only from
amounts remaining outside our trust account, if any.
Our executive officers and directors
are deemed to be our "promoters," as that term is defined under the federal securities laws.
CERTAIN TRANSACTIONS
On January 28, 2021, our sponsor purchased
an aggregate of 1,437,500 shares for an aggregate purchase price of $25,000 in cash, or approximately $0.017 per share. Our sponsor
expects to transfer 4,000 insider shares to the three independent directors at the closing of this offering. We refer to these
shares throughout this prospectus as the "insider shares". The number of insider shares issued was determined based on
the expectation that such insider shares would represent 20% of the outstanding shares upon completion of this offering (not including
the shares to be issued to the underwriter at closing or the shares underlying the private placement units).
If the underwriters do not exercise
all or a portion of their over-allotment option, our insiders will forfeit up to an aggregate of 187,500 insider shares in proportion
to the portion of the over-allotment option that was not exercised. If such shares are forfeited, we will record the forfeited
shares as treasury stock and simultaneously retire the shares. Upon receipt, such forfeited shares would then be immediately cancelled
which would result in the retirement of the treasury shares and a corresponding charge to additional paid-in capital.
If the underwriters determine the size
of the offering should be increased (including pursuant to Rule 462(b) under the Securities Act) or decreased, a share dividend
or a contribution back to capital, as applicable, would be effectuated in order to maintain our insiders' ownership at a percentage
of the number of shares of common stock to be sold in this offering. Our insiders may purchase from us at a price of $10.00 per
unit the number of private units that is necessary to maintain in the trust account an amount equal to $10.00 per share sold to
the public in this offering.
82
SPK Acquisition LLC will purchase, pursuant
to a written purchase agreement with us, 205,000 private units for a total purchase price of $2,050,000 (or 220,000 private units
for a total purchase price of $2,200,000 if the underwriters' over-allotment option is exercised in full). These purchases will
take place on a private placement basis simultaneously with the consummation of this offering. The purchase price for the private
units, including those that may be purchased if the over-allotment option is exercised, will be delivered to Loeb & Loeb LLP,
who will also be acting as escrow agent in connection with the private sale of private units, at least 24 hours prior to the date
of this prospectus to hold in a non-interest bearing account until we consummate this offering. Continental Stock Transfer &
Trust Company will deposit the purchase price into the trust account simultaneously with the consummation of the offering or the
over-allotment option, as the case may be. The private units are identical to the units sold in this offering. Additionally, SPK
Acquisition LLC has agreed not to transfer, assign or sell any of the private units or underlying securities (except to the same
permitted transferees as the insider shares and provided the transferees agree to the same terms and restrictions as the permitted
transferees of the insider shares must agree to, each as described above) until the completion of our initial business combination.
In order to meet our working capital
needs following the consummation of this offering, our insiders, officers and directors 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 lender's discretion, up to $1,500,000 of the notes may be converted upon consummation of our business combination into additional
private units at a price of $10.00 per unit. Our stockholders have approved the issuance of the private units upon conversion of
such notes, to the extent the holder wishes to so convert such notes at the time of the consummation of our initial business combination.
If we do not complete a business combination, any outstanding loans from our insiders or their affiliates, will be repaid only
from amounts remaining outside our trust account, if any.
The holders of our insider shares issued
and outstanding on the date of this prospectus, as well as the holders of the private units (and underlying securities) and any
shares our insiders or their affiliates may be issued in payment of working capital loans made to us, will be entitled to registration
rights pursuant to an agreement to be signed prior to or on the effective date of this offering. The holders of a majority of
these securities are entitled to make up to two demands that we register such securities. Both the holders of the
majority of the insider shares and the holders of a majority of the units or shares issued in payment of working capital
loans made to us can elect to exercise these registration rights at any time after we consummate a business combination. In addition,
the holders have certain "piggy-back" registration rights with respect to registration statements filed subsequent
to our consummation of our initial business combination. We will bear the expenses incurred in connection with the filing of any
such registration statements.
SPK Acquisition LLC has agreed that,
commencing on the date of this prospectus through the earlier of our consummation of our initial business combination or our liquidation,
it will make available to us certain general and administrative services, including office space, utilities and administrative
support, as we may require from time to time at no cost. No compensation or fees of any kind, including finder's fees, consulting
fees or other similar compensation, will be paid to our insiders or any of the members of our management team, for services rendered
to us prior to, or in connection with the consummation of our initial business combination (regardless of the type of transaction
that it is). However, such individuals will receive reimbursement for any out-of-pocket expenses incurred by them in connection
with activities on our behalf, such as identifying potential target businesses, performing business due diligence on suitable target
businesses and business combinations as well as traveling to and from the offices, plants or similar locations of prospective target
businesses to examine their operations. There is no limit on the amount of out-of-pocket expenses reimbursable by us; provided,
however, that to the extent such expenses exceed the available proceeds not deposited in the trust account and the interest income
earned on the amounts held in the trust account, such expenses would not be reimbursed by us unless we consummate an initial business
combination.
After our initial business combination,
members of our management team who remain with us may be paid consulting, board, 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 proxy solicitation materials furnished
to our stockholders. It is unlikely the amount of such compensation will be known at the time of a stockholder meeting held to
consider our initial business combination, as it will be up to the directors of the post-combination business to determine executive
and director compensation. In this event, such compensation will be publicly disclosed at the time of its determination in a Current
Report on Form 8-K, as required by the SEC.
All ongoing and future transactions
between us and any of our officers and directors or their respective affiliates will be on terms believed by us to be no less favorable
to us than are available from unaffiliated third parties. Such transactions will require prior approval by our audit committee
and a majority of our uninterested independent directors, in either case who had access, at our expense, to our attorneys or independent
legal counsel. We will not enter into any such transaction unless our audit committee and a majority of our disinterested independent
directors determine that the terms of such transaction are no less favorable to us than those that would be available to us with
respect to such a transaction from unaffiliated third parties.
83
Related Party Policy
Our Code of Ethics requires us to avoid,
wherever possible, all related party transactions that could result in actual or potential conflicts of interests, except under
guidelines approved by the board of directors (or the audit committee). Related party transactions are defined as transactions
in which (1) the aggregate amount involved will or may be expected to exceed $120,000 in any calendar year, (2) we or any of our
subsidiaries is a participant, and (3) any (a) executive officer, director or nominee for election as a director, (b) greater than
5% beneficial owner of our shares of common stock, or (c) immediate family member, of the persons referred to in clauses (a) and
(b), has or will have a direct or indirect material interest (other than solely as a result of being a director or a less than
10% beneficial owner of another entity). A conflict of interest situation can arise when a person takes actions or has interests
that may make it difficult to perform his or her work objectively and effectively. Conflicts of interest may also arise if a person,
or a member of his or her family, receives improper personal benefits as a result of his or her position.
We also require each of our directors
and executive officers to annually complete a directors' and officers' questionnaire that elicits information about related party
transactions.
These procedures are intended to determine
whether any such related party transaction impairs the independence of a director or presents a conflict of interest on the part
of a director, employee or officer.
To further minimize conflicts of interest,
we have agreed not to consummate our initial business combination with an entity that is affiliated with any of our insiders, officers
or directors unless we have obtained an opinion from an independent investment banking firm and the approval of a majority of our
disinterested and independent directors (if we have any at that time) that the business combination is fair to our unaffiliated
stockholders from a financial point of view. In no event will our insiders, or any of the members of our management team be paid
any finder's fee, consulting fee or other similar compensation prior to, or for any services they render in order to effectuate,
the consummation of our initial business combination (regardless of the type of transaction that it is).
84
DESCRIPTION OF SECURITIES
General
As of the effective date of the registration
statement of which this prospectus forms a part, our certificate of incorporation will authorize the issuance of 10,000,000 shares
of common stock, par value $0.0001. As of the date of this prospectus, 1,437,500 shares of common stock are outstanding. The following
description summarizes all of the material terms of our securities. Because it is only a summary, it may not contain all the information
that is important to you. For a complete description you should refer to our certificate of incorporation and bylaws, which are
filed as exhibits to the registration statement of which this prospectus is a part.
Units
Each unit has an offering price of $10.00
and consists of one share of common stock and one right. Each right entitles the holder thereof to receive one- tenth (1/10) of
a share of common stock upon consummation of our initial business combination. In addition, we will not issue fractional shares
in connection with an exchange of rights. Fractional shares will either be rounded down to the nearest whole share or otherwise
addressed in accordance with the applicable provisions of Delaware Law. As a result, you must hold rights in multiples of 8 in
order to receive shares for all of your rights upon closing of a business combination.
The common stock and rights comprising
the units will begin separate trading on the 90
th
day after the date of this prospectus unless Chardan Capital Markets,
LLC determines that an earlier date is acceptable (based upon, among other things, its assessment of the relative strengths of
the securities markets and small capitalization companies in general, and the trading pattern of, and demand for, our securities
in particular), 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. Once the shares of common stock and rights commence separate trading, holders will have
the option to continue to hold units or separate their units into the component pieces. Holders will need to have their brokers
contact our transfer agent in order to separate the units into shares of common stock and rights.
In no event will the common stock and
rights 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 of this offering. We will file a Current Report on Form 8-K which includes this
audited balance sheet upon the completion of this offering, which 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
Our holders of record of our common
stock are entitled to one vote for each share held on all matters to be voted on by stockholders. In connection with any vote held
to approve our initial business combination, our insiders, officers and directors, have agreed to vote their respective shares
of common stock owned by them immediately prior to this offering, including both the insider shares and the private shares, and
any shares acquired in this offering or following this offering in the open market, in favor of the proposed business combination.
We will consummate our initial business
combination only if public stockholders do not exercise conversion rights in an amount that would cause our net tangible assets
to be less than $5,000,001 and a majority of the outstanding shares of common stock voted are voted in favor of the business combination.
85
Pursuant to our certificate of incorporation,
if we do not consummate our initial business combination within 9 months from the closing of this offering (or 15 months from
the closing of this offering if we have filed a proxy statement, registration statement or similar filing for an initial business
combination within 9 months from the closing of this offering but have not completed the initial business combination within such
9-month 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 100% of the 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 the case of (ii) and (iii) above)
to our obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law. Our insiders
have agreed to waive their rights to share in any distribution with respect to their insider shares and private shares. However,
if we anticipate that we may not be able to consummate our initial business combination within 9 months and we have not filed
a proxy statement, registration statement or similar filing for an initial business combination by such date, our insiders or
their affiliates may, but are not obligated to, extend the period of time to consummate a business combination two times by an
additional three months each time (for a total of up to 15 months to complete a business combination), provided that, 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, the only way to extend the time available for
us to consummate our initial business combination in the absence of a proxy statement, registration statement or similar filing
is for our insiders or their affiliates or designees, upon five days' advance notice prior to the applicable deadline, to
deposit into the trust account $500,000, or $575,000 if the over-allotment option is exercised in full ($0.10 per share in either
case, or an aggregate of $1,000,000 (or $1,150,000 if the over-allotment option is exercised in full)), on or prior to the date
of the applicable deadline. In the event that they elected to extend the time to complete a business combination and deposited
the applicable amount of money into trust, the insiders would receive a non-interest bearing, unsecured promissory note equal
to the amount of any such deposit that will not be repaid in the event that we are unable to close a business combination unless
there are funds available outside the trust account to do so. Such notes would either be paid upon consummation of our initial
business combination, or, at the relevant insider's discretion, converted upon consummation of our business combination
into additional private units at a price of $10.00 per unit. Our stockholders have approved the issuance of the private
units upon conversion of such notes, to the extent the holder wishes to so convert such notes at the time of the consummation
of our initial business combination. In the event that we receive notice from our insiders five days prior to the applicable deadline
of their intent 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 insiders 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. To the extent that some, but not all, of our insiders,
decide to extend the period of time to consummate our initial business combination, such insiders (or their affiliates or designees)
may deposit the entire amount required.
Our stockholders have no conversion,
preemptive or other subscription rights and there are no sinking fund or redemption provisions applicable to the shares of common
stock, except that public stockholders have the right to sell their shares to us in any tender offer or have their shares of common
stock converted to cash equal to their pro rata share of the trust account if they vote on the proposed business combination and
the business combination is completed. If we hold a stockholder vote to amend any provisions of our certificate of incorporation
relating to stockholder's rights or pre-business combination activity (including the substance or timing within which we have to
complete a business combination), we will 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 earned on the funds held in the trust account and not previously released to us to pay
our franchise and income taxes, divided by the number of then outstanding public shares, in connection with any such vote. In either
of such events, converting stockholders would be paid their pro rata portion of the trust account promptly following consummation
of the business combination or the approval of the amendment to the certificate of incorporation. If the business combination is
not consummated or the amendment is not approved, stockholders will not be paid such amounts.
Rights included as part of units
Except in cases where we are not the
surviving company in a business combination, each holder of a right will automatically receive one- tenth (1/10) of a share of
common stock upon consummation of our initial business combination, even if the holder of a public right converted all shares of
common stock held by him, her or it in connection with the initial business combination or an amendment to our certificate of incorporation
with respect to our pre-business combination activities. In the event we will not be the surviving company upon completion of our
initial business combination, each holder of a right will be required to affirmatively convert his, her or its rights in order
to receive the one- tenth (1/10) of a share underlying each right upon consummation of the business combination. No additional
consideration will be required to be paid by a holder of rights in order to receive his, her or its additional shares of common
stock upon consummation of an initial business combination. The shares issuable upon exchange of the rights will be freely tradable
(except to the extent held by affiliates of ours). If we enter into a definitive agreement for a business combination in which
we will not be the surviving entity, the definitive agreement will provide for the holders of rights to receive the same per share
consideration the holders of the common stock will receive in the transaction on an as-converted into common stock basis.
We will not issue fractional shares
in connection with an exchange of rights. Fractional shares will either be rounded down to the nearest whole share or otherwise
addressed in accordance with the applicable provisions of the Delaware General Corporation Law. As a result, you must hold rights
in multiples of 10 in order to receive shares for all of your rights upon closing of a business combination. If we are unable to
complete an initial business combination within the required time period and we liquidate the funds held in the trust account,
holders of rights will not receive any of such funds with respect to their rights, nor will they receive any distribution from
our assets held outside of the trust account with respect to such rights, and the rights will expire worthless. Further, there
are no contractual penalties for failure to deliver securities to the holders of the rights upon consummation of an initial business
combination. Additionally, in no event will we be required to net cash settle the rights. Accordingly, the rights may expire worthless.
86
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
pursuant to Rule 462(b) under the Securities Act, in which case we will effect a stock dividend immediately prior to the consummation
of the offering in such amount as to maintain the number of insider shares at 20.0% of our issued and outstanding shares of our
common stock upon the consummation of this offering (assuming our insiders do not purchase units in this offering). 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 Rights Agent
The transfer agent for our securities
is Continental Stock Transfer & Trust Company.
Certain Anti-Takeover Provisions of Delaware Law and our
Certificate of Incorporation and By-Laws
We will be subject to the provisions
of Section 203 of Delaware General Corporation Law, or 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 10% 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.
Special meeting of stockholders
Our bylaws provide that special meetings
of our stockholders may be called only by resolution of the board of directors, or by the Chairman or the President.
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 delivered to 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 scheduled date of the annual meeting of stockholders. 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.
87
SHARES ELIGIBLE FOR FUTURE SALE
Immediately after this offering, we
will have 6,480,000 shares of common stock outstanding, or 7,436,250 shares of common stock if the over-allotment option is exercised
in full. Of these shares, the 5,000,000 shares of common stock sold in this offering, or 5,750,000 shares of common stock if the
over-allotment option is exercised in full, 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
remaining shares are restricted securities under Rule 144, in that they were issued in private transactions not involving a public
offering.
Rule 144
A person who has beneficially owned
restricted shares of common stock for at least six months would be entitled to sell their shares provided that (1) 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 (2)
we are subject to the Exchange Act periodic reporting requirements for at least three months before the sale. Persons who have
beneficially owned restricted shares of common stock for at least six months but who are our affiliates at the time of, or 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 a number of shares that does not exceed the greater of either of the following:
●
1% of the number of shares then outstanding, which will equal approximately 64,800 shares of common stock immediately after this offering (or approximately 74,362 shares of common stock if the over-allotment option is exercised in full); and
●
the average weekly trading volume of the shares of common stock during the four calendar weeks preceding the filing of a notice on Form 144 with respect to the sale.
Sales 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 material 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, it is likely that pursuant
to Rule 144, our insiders will be able to sell their insider shares freely without registration one year after we have completed
our initial business combination assuming they are not an affiliate of ours at that time.
Registration Rights
The holders of our insider shares issued
and outstanding on the date of this prospectus, the holders of the private units and any shares our insiders or their affiliates
may be issued in payment of working capital loans made to us, will be entitled to registration rights pursuant to an agreement
to be signed prior to or on the effective date of this offering requiring us to register such securities for resale. The holders
of a majority of these securities are entitled to make up to two demands that we register such securities. Both the holders
of the majority of the insider shares and the holders of a majority of the units or shares issued in payment of
working capital loans made to us can elect to exercise these registration rights at any time after we consummate a
business combination. In addition, the holders have certain "piggy-back" registration rights with respect to registration
statements filed subsequent to our consummation of our initial business combination. We will bear the expenses incurred in connection
with the filing of any such registration statements.
88
UNDERWRITING
We intend to offer our securities described
in this prospectus through the underwriters named below. Subject to the terms and conditions of the underwriting agreement, the
underwriters, through their representative and sole book-running manager of the offering, Chardan Capital Markets, LLC, have severally
agreed to purchase from us, on a firm commitment basis, the following respective number of units at a public offering price less
the underwriting discounts and commissions set forth on the cover page of this prospectus:
Underwriter
Number of Units
Chardan Capital Markets, LLC
B. Riley Securities, Inc.
Total
5,000,000
A copy of the form of underwriting agreement
has been filed as an exhibit to the registration statement of which this prospectus forms a part.
Listing of our Securities
We expect our units, common stock and
rights to be quoted on Nasdaq under the symbols "SPKU," "SPK," and "SPKR,"
respectively. We anticipate 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 rights are eligible to trade separately, we anticipate that the
shares of our common stock and rights will be listed separately and as a unit on Nasdaq. We cannot guarantee that our securities
will be approved for listing on Nasdaq or that they will continue to be listed on Nasdaq after this offering.
Pricing of this Offering
We have been advised by the representative
that the underwriters propose to offer the units to the public at the offering price set forth on the cover page of this prospectus.
Prior to this offering there has been
no public market for our securities. The public offering price of the units was negotiated between us and the representative of
the underwriters. Factors considered in determining the prices and terms of the units include:
●
the history of other similarly structured blank check companies;
●
prior offerings of those companies;
●
our prospects for consummating our initial business combination with an operating business at attractive values;
●
our capital structure;
●
securities exchange listing requirements;
●
market demand;
●
expected liquidity of our securities; and
●
general conditions of the securities markets at the time of the offering.
However, although these factors were
considered, the determination of our offering price is more arbitrary than the pricing of securities for an operating company in
a particular industry since the underwriters are unable to compare our financial results and prospects with those of public companies
operating in the same industry.
Over-Allotment Option
We have granted the underwriters an
option to buy up to 750,000 additional units. The underwriters may exercise this option solely for the purpose of covering over-allotments,
if any, made in connection with this offering. The underwriters have 45 days from the date of this prospectus to exercise
this option. If the underwriters exercise this option, they will each purchase additional units approximately in proportion to
the amounts specified in the table above.
89
Commissions and Discounts
The following table shows the public
offering price, underwriting discount to be paid by us to the underwriters and the proceeds, before expenses, to us. This information
assumes either no exercise or full exercise by the representative of the underwriters of its over-allotment option.
Per Unit
Without
Over-allotment
With
Over-allotment
Public offering price
$
10.00
$
50,000,000
$
57,500,000
Discount
(1)
$
0.50
$
2,500,000
$
2,875,000
Proceeds before expenses
(2)
$
9.50
$
47,500,000
$
54,625,000
(1)
Such amount includes $1,500,000, or $0.30 per unit, (or $1,725,000 if the underwriters' over-allotment option is exercised in full) payable to the underwriters for deferred underwriting commissions upon completion of a business combination. In addition, we have agreed to issue Chardan and/or its designees at the closing of our offering, a discount equal to 0.5% of the amount sold in this offering in the form of our shares  at a price of $10.00 per share (25,000 shares if the over-allotment option is not exercised, and up to 28,750 if the over-allotment option is exercised in full).
(2)
The offering expenses are estimated at $500,000, assuming there is no exercise of the underwriters' over-allotment option.
No discounts or commissions will be
paid on the sale of the private units.
In addition to the underwriting discount,
we paid Chardan $25,000, upon the execution of the engagement letter, as an advance against out-of-pocket accountable expenses
actually anticipated to be incurred by the underwriters. We have agreed to pay for legal and accounting fees and disbursements;
the costs of preparing, printing, mailing and delivering the Registration Statement, the preliminary and final prospectus contained
therein and amendments thereto, post-effective amendments and supplements thereto, the Underwriting Agreement and related documents
(all in such quantities as Chardan may reasonably require); preparing and printing stock certificates and right certificates;
the costs of any "due diligence" meetings; filing fees (including SEC filing fees), costs and expenses (including
third party expenses and disbursements) incurred in registering the offering, FINRA filing fees; preparation of leather bound
volumes and Lucite cube mementos in such quantities as Chardan may reasonably request; transfer taxes; and transfer and right
agent and registrar fees, which such fees and expenses are capped at an aggregate of $125,000.
Right of First Refusal
Subject to certain conditions, we granted Chardan, for a period of
18 months after the date of the consummation of our business combination, a right of first refusal to act as co-manager
or placement agent, with at least 25% of the economics, for any and all future public and private equity and debt offerings. In accordance with
FINRA Rule 5110(f)(2)(E)(i), such right of first refusal shall not have a duration of more than three years from the
effective date of the registration statement of which this prospectus forms a part.
Representative's Shares
We have agreed to issue Chardan and/or
its designees 25,000 ordinary shares (or 28,750 shares if the underwriter's over-allotment option is exercised in
full) upon the consummation of this offering.
Chardan has agreed not to transfer,
assign or sell any such shares until the completion of our initial business combination. In addition, Chardan 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 9 months from the closing of this offering (or up to 15 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 representative's shares 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 Rule 5110(e)(1) of the FINRA
Manual. Pursuant to FINRA Rule 5110(e)(1), these securities will not be sold during the offering, or sold, transferred, assigned,
pledged, or hypothecated, or 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 or commencement of sales of the public offering, except to
any underwriter and selected dealer participating in the offering and their bona fide officers or partners, provided that all
securities so transferred remain subject to the lockup restriction above for the remainder of the time period.
Regulatory Restrictions on Purchase of Securities
Rules of the SEC may limit the ability
of the underwriters to bid for or purchase our units before the distribution of the units is completed. However, the underwriters
may engage in the following activities in accordance with the rules:
●
Stabilizing Transactions. The underwriters may make bids or purchases solely for the purpose of preventing or retarding a decline in the price of our units, as long as stabilizing bids do not exceed the offering price of $10.00 and the underwriters comply with all other applicable rules.
90
●
Over-Allotments and Syndicate Coverage Transactions. The underwriters may create a short position in our units by selling more of our units than are set forth on the cover page of this prospectus up to the amount of the over-allotment option. This is known as a covered short position. The underwriters may also create a short position in our units by selling more of our units than are set forth on the cover page of this prospectus and the units allowed by the over-allotment option. This is known as a naked short position. If the underwriters create a short position during the offering, the representative may engage in syndicate covering transactions by purchasing our units in the open market. The representative may also elect to reduce any short position by exercising all or part of the over-allotment option. Determining what method to use in reducing the short position depends on how the units trade in the aftermarket following the offering. If the unit price drops following the offering, the short position is usually covered with shares purchased by the underwriters in the aftermarket. However, the underwriters may cover a short position by exercising the over-allotment option even if the unit price drops following the offering. If the unit price rises after the offering, then the over-allotment option is used to cover the short position. If the short position is more than the over-allotment option, the naked short must be covered by purchases in the aftermarket, which could be at prices above the offering price.
●
Penalty Bids. The representative may reclaim a selling concession from a syndicate member when the units originally sold by the syndicate member are purchased in a stabilizing or syndicate covering transaction to cover syndicate short positions.
Stabilization and syndicate covering
transactions may cause the price of our securities to be higher than they would be in the absence of these transactions. The imposition
of a penalty bid might also have an effect on the prices of our securities if it discourages resales of our securities.
Neither we nor the underwriters make
any representation or prediction as to the effect that the transactions described above may have on the price of our securities.
These transactions may occur on Nasdaq, in the over-the-counter market or on any trading market. If any of these transactions are
commenced, they may be discontinued without notice at any time.
Other Terms
Except as set forth 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, among other things, introduce us to potential target businesses
or assist us in raising additional capital, as needs may arise in the future. If any underwriter provides services to us after
this offering, we may pay the 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 the underwriter and no fees for such services will be paid to the underwriter
prior to the date which is 90 days after the date of this prospectus, unless FINRA determines that such payment would not be deemed
underwriter's compensation in connection with this offering.
Indemnification
We have agreed to indemnify the underwriters
against some liabilities, including civil liabilities under the Securities Act, or to contribute to payments the underwriters may
be required to make in this respect.
Selling Restrictions
Canada
Resale Restrictions
We intend to distribute our securities
in the Province of Ontario, Canada (the "Canadian Offering Jurisdiction") by way of a private placement and exempt from
the requirement that we prepare and file a prospectus with the securities regulatory authorities in such Canadian Offering Jurisdiction.
Any resale of our securities in Canada must be made under applicable securities laws that will 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. Canadian resale restrictions in some circumstances may apply to resales of
interests made outside of Canada. Canadian purchasers are advised to seek legal advice prior to any resale of our securities. We
may never be a "reporting issuer", as such term is defined under applicable Canadian securities legislation, in any province
or territory of Canada in which our securities will be offered and there currently is no public market for any of the securities
in Canada, and one may never develop. Canadian investors are advised that we have no intention to file a prospectus or similar
document with any securities regulatory authority in Canada qualifying the resale of the securities to the public in any province
or territory in Canada.
Representations of Purchasers
A Canadian purchaser will be required
to represent to us and the dealer from whom the purchase confirmation is received that:
●
the purchaser is entitled under applicable provincial securities laws to purchase our securities without the benefit of a prospectus qualified under those securities laws;
●
where required by law, that the purchaser is purchasing as principal and not as agent;
91
●
the purchaser has reviewed the text above under Resale Restrictions; and
●
the purchaser acknowledges and consents to the provision of specified information concerning its purchase of our securities to the regulatory authority that by law is entitled to collect the information.
Rights of Action — Ontario Purchasers
Only
Under Ontario securities legislation,
certain purchasers who purchase a security offered by this prospectus during the period of distribution will have a statutory right
of action for damages, or while still the owner of our securities, for rescission against us in the event that this prospectus
contains a misrepresentation without regard to whether the purchaser relied on the misrepresentation. The right of action for damages
is exercisable not later than the earlier of 180 days from the date the purchaser first had knowledge of the facts giving rise
to the cause of action and three years from the date on which payment is made for our securities. The right of action for rescission
is exercisable not later than 180 days from the date on which payment is made for our securities. If a purchaser elects to exercise
the right of action for rescission, the purchaser will have no right of action for damages against us. In no case will the amount
recoverable in any action exceed the price at which our securities were offered to the purchaser and if the purchaser is shown
to have purchased the securities with knowledge of the misrepresentation, we will have no liability. In the case of an action for
damages, we will not be liable for all or any portion of the damages that are proven to not represent the depreciation in value
of our securities as a result of the misrepresentation relied upon. These rights are in addition to, and without derogation from,
any other rights or remedies available at law to an Ontario purchaser. The foregoing is a summary of the rights available to an
Ontario purchaser. Ontario purchasers should refer to the complete text of the relevant statutory provisions.
Enforcement of Legal Rights
All of our directors and officers as
well as the experts named herein are 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 of our assets and the assets of those persons are 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.
Collection of Personal Information
If a Canadian purchaser is resident
in or otherwise subject to the securities laws of the Province of Ontario, the Purchaser authorizes the indirect collection of
personal information pertaining to the Canadian purchaser by the Ontario Securities Commission (the "OSC") and each Canadian
purchaser will be required to acknowledge and agree that the Canadian purchaser has been notified by us (i) of the delivery to
the OSC of personal information pertaining to the Canadian purchaser, including, without limitation, the full name, residential
address and telephone number of the Canadian purchaser, the number and type of securities purchased and the total purchase price
paid in respect of the securities, (ii) that this information is being collected indirectly by the OSC under the authority granted
to it in securities legislation, (iii) that this information is being collected for the purposes of the administration and enforcement
of the securities legislation of Ontario, and (iv) that the title, business address and business telephone number of the public
official in Ontario who can answer questions about the OSC's indirect collection of the information is the Administrative Assistant
to the Director of Corporate Finance, the Ontario Securities Commission, Suite 1903, Box 5520, Queen Street West, Toronto, Ontario,
M5H 3S8, Telephone: (416) 593-8086, Facsimile: (416) 593-8252.
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.
LEGAL MATTERS
Loeb & Loeb LLP, New York, New
York, is acting as counsel in connection with the registration of our securities under the Securities Act, and as such, will pass
upon the validity of the securities offered in this prospectus. In connection with this offering, White and Williams LLP
is acting as counsel to the underwriters.
92
EXPERTS
The financial statements of SPK Acquisition
Corp. as of February 10, 2021 and for the period from December 31, 2020 (inception) through February 10, 2021  included
in this prospectus have been audited by UHY LLP, 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 SPK 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 on such report given upon such firm as experts in auditing and accounting.
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 units 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 shares, 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
. You may also read and copy any document we file with the SEC at its public
reference facility at 100 F Street, N.E., Washington, D.C. 20549.
93
SPK ACQUISITION CORP.
INDEX TO FINANCIAL STATEMENTS
Page
Report of Independent Registered Public Accounting Firm
F-2
Financial Statements:
Balance
Sheet as of February 10, 2021
F-3
Statement
of Operations for the period from December 31, 2020 (inception) through February 10, 2021
F-4
Statement
of Changes in Shareholder's Equity for the period from December 31, 2020 (inception)
through
February 10, 2021
F-5
Statement
of Cash Flows for the period from December 31, 2020 (inception) through February 10, 2021
F-6
Notes to Financial Statements
F-7
F-
1
REPORT OF
INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Board of Directors and
Shareholder of SPK Acquisition Corp.
Opinion on the Financial Statements
We have audited the accompanying
balance sheets of SPK Acquisition Corp. (the Company) as of February 10, 2021, and the related statements of operations, shareholder's
equity, and cash flows as of and for the period from December 31, 2020 (inception) to February 10, 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 10, 2021, and the results of its operations and
its cash flows for the period from December 31, 2020 (inception) through February 10, 2021, in conformity with accounting principles
generally accepted in the United States of America.
Substantial Doubt about the Company's
Ability to Continue as a Going Concern
The accompanying financial statements have
been prepared assuming the Company will continue as a going concern. As discussed in Note 1 to the financial statements, the Company
has no revenue, its business plan is dependent on the completion of a financing transaction and the Company's cash and working
capital as February 10, 2021 are not sufficient to complete its planned activities for the upcoming year. These conditions raise
substantial doubt about the Company's ability to continue as a going concern. Management's plans regarding these matters
are also described in Note 1 to the financial statements. The financial statements do not include any adjustments that might result
from the outcome of this uncertainty.
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 and in accordance with auditing standards generally accepted in the United States of America. 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 Company'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.
UHY LLP
We
have served as the Company's auditor since 2021.
New
York, New York
March 1, 2021
F-
2
SPK ACQUISITION CORP.
BALANCE SHEET
FEBRUARY 10, 2021
Assets
Current
    asset – Cash
$
162,500
Deferred offering costs
87,500
Total assets
$
250,000
Liabilities and Shareholder's Equity
Current liabilities
Promissory note – related party
$
200,000
Accrued offering costs and expenses
25,625
Total current liabilities
225,625
Commitments and contingencies
Shareholder's Equity:
Common stock, $0.0001 par
value; 5,000,000 shares authorized; 1,437,500 shares issued and outstanding
(1)
144
Additional paid-in capital
24,856
Accumulated deficit
(625
)
Total shareholder's equity
24,375
Total Liabilities and Shareholder's
    Equity
$
250,000
(1)
Includes an aggregate of up to 187,500 shares subject to forfeiture to the extent that the underwriters' over-allotment option is not exercised in full or in part (See Note 5).
The accompanying notes are an integral part
of the financial statements.
F-
3
SPK ACQUISITION CORP.
STATEMENT OF OPERATIONS
FOR THE PERIOD FROM DECEMBER 31, 2020 (INCEPTION) THROUGH FEBRUARY 10, 2021
Formation costs
$
625
Net loss
$
(625
)
Basic
and diluted weighted average shares outstanding
(1)
1,250,000
Basic and diluted net loss per share
$
(0.00
)
(1)
Excludes 187,500 shares of common stock subject to forfeiture if the underwriters' over-allotment
is not exercised in full or in part (see Note 5).
The accompanying notes are an integral part
of the financial statements.
F-
4
SPK ACQUISITION CORP.
STATEMENT OF CHANGES IN SHAREHOLDER'S EQUITY
FOR THE PERIOD FROM DECEMBER 31, 2020 (INCEPTION)
THROUGH FEBRUARY 10, 2021
Common Stock
Shares
(1)
Amount
Additional Paid-in Capital
Accumulated
Deficit
Total Shareholder's
Equity
Balance as of December 31, 2020 (inception)
—
$
—
$
—
$
—
$
—
Common stock issued to sponsor
1,437,500
144
24,856
—
25,000
Net loss
—
—
—
(625
)
(625
)
Balance as of February 10, 2021
1,437,500
$
144
$
24,856
$
(625
)
$
24,375
(1)
Includes 187,500 shares of common stock subject to forfeiture if the underwriters' over-allotment
is not exercised in full or in part (see Note 5).
The accompanying
notes are an integral part of the financial statements.
F-
5
SPK ACQUISITION CORP.
STATEMENT OF CASH FLOWS
FOR THE PERIOD FROM DECEMBER 31, 2020 (INCEPTION) THROUGH FEBRUARY 10, 2021
Cash flows from operating activities:
Net loss
$
(625
)
Changes in operating assets and liabilities:
Accrued expenses
625
Net cash (used in) operating activities
—
Cash flows from financing activities
Deferred offering costs
(62,500
)
Issuance of capital stock to sponsor
25,000
Loan from sponsor
200,000
Net cash flows from financing activities
162,500
Net change in cash
162,500
Cash, on December 31, 2020 (inception)
—
Cash, on February 10, 2021
$
162,500
Supplemental disclosure of non-cash
    activities:
Deferred offering costs included in accrued offering
    cost
$
25,000
The accompanying notes are an integral part
of the financial statements.
F-
6
SPK ACQUISITION CORP.
NOTES TO FINANCIAL STATEMENTS
Note 1 — Organization and Business
Operation
SPK Acquisition Corp. (the "Company")
is a newly organized blank check company incorporated pursuant to the General Corporation Law of the State of Delaware on December
31, 2020 that was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization
or similar business combination with one or more businesses (the "initial business combination"). The Company's
efforts to identify a prospective target business will not be limited to a particular industry or geographic region, although
the Company intends to focus on operating businesses in the sectors of telecommunications, media, and technology ("TMT")
in Asia. The Company has not selected any specific business combination target with respect to the initial business combination.
As of February 10, 2021, the Company had not
commenced any operations. All activity for the period from December 31, 2020, the Company's inception, through February 10, 2021,
relates to the Company's formation and the proposed initial public offering (as defined below). The Company has selected December
31 as its fiscal year end.
The Company's sponsor is SPK Acquisition LLC,
a Delaware limited liability company (the "sponsor"). The Company's ability to commence operations is contingent upon
obtaining adequate financial resources through a proposed public offering (the "proposed public offering," see Note 3)
and a proposed private placement by the sponsor (the "private placement," see Note 4).
Under the terms of a non-binding engagement
letter with an underwriter (see Note 6), the Company will have until 9 months from the closing of this offering (or 15 months
from the closing of this offering if the Company has filed a proxy statement, registration statement or similar filing
for an initial business combination within 9 months from the closing of this offering but have not completed the initial business
combination within such 9-month period) to consummate an initial business combination. If the Company anticipates that it may
not be able to consummate the initial business combination within 9 months and it has not filed a proxy statement, registration
statement or similar filing for an initial business combination the Company may, but is not obligated to, extend the period of
time to consummate a business combination two times by an additional three months each time (for a total of up to 15 months to
complete a business combination).
Proceeds from this proposed public
offering shall be deposited into a United States-based trust account (the "trust account"). Except as described
below, these funds will not be released until the earlier of the completion of the Company's initial business combination
and the Company's redemption of the shares of common stock sold in this offering upon the Company's failure to consummate
a business combination within the required period.
Notwithstanding the foregoing, there can be
released to the Company from the trust account any interest earned on the funds in the trust account that the Company needs to
pay its income or other tax obligations. With this exception, expenses incurred may be paid prior to a business combination only
from the net proceeds of this offering permitted to be held outside the trust account.
If the Company is unable to consummate its
initial business combination within the agreed upon term, the Company will, as promptly as possible, redeem 100% of the Company's
outstanding public shares for a pro rata portion of the funds held in the trust account, including a pro rata portion of any interest
earned on the funds held in the trust account and not previously released to pay the Company's taxes, and then seek to dissolve
and liquidate. However, the Company may not be able to distribute such amounts as a result of claims of creditors which may take
priority over the claims of the Company's public stockholders. In the event of the Company's dissolution and liquidation, the private
units will expire and will be worthless.
The Company's initial business combination
must be with one or more target businesses that together have a fair market value equal to at least 80% of the balance in the trust
account (less any deferred underwriting commissions and net of taxes payable) at the time of the signing of a definitive agreement
to enter into a business combination.
Going Concern Consideration
As of February10, 2021, the Company had $162,500
in cash and a working capital deficit of $63,125 (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. Management plans to address this uncertainty through the proposed
public offering as discussed in Note 3 and the private placement described 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.
F-
7
SPK ACQUISITION CORP.
NOTES TO FINANCIAL STATEMENTS
Note 2 — Significant Accounting
Policies
Basis of Presentation
The accompanying financial statements are presented
in conformity with accounting principles generally accepted in the United States of America ("US GAAP") and pursuant
to the rules and regulations of the Securities and Exchange Commission (the "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 shareholder approval of any golden parachute
payments not previously approved.
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 that
is neither an emerging growth company nor an emerging growth company that 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 US 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
during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents
The Company considers cash equivalents to be
highly liquid investments with a maturity at the date of purchase of three months or less. The Company did not have any cash equivalents
at February 10, 2021.
Deferred Offering Costs
Deferred offering costs consist of underwriting,
legal, accounting and other expenses incurred through the balance sheet date that are directly related to the proposed public offering
and that will be charged to shareholders' 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 expense.
Net Loss Per Share
Basic and diluted net loss per share is computed
by dividing net loss by the weighted average number of shares outstanding during the period, excluding 187,500 shares subject
to forfeiture by the Company. The Company has not issued any dilutive securities for the period from inception through
February 10, 2021.
F-
8
SPK ACQUISITION CORP.
NOTES TO FINANCIAL STATEMENTS
Note 2 — Significant Accounting
Policies (Continued)
Fair Value of Financial Instruments
The fair value of the Company's assets and
liabilities approximates the carrying amounts represented in the accompanying balance sheet, primarily due to their short-term
nature.
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 has incurred a net operating loss
of $625 for United State Federal tax purposes. This loss is available to offset future taxable income subject to certain limitations
resulting in a deferred tax asset. The Company has recorded a full valuation allowance against the deferred tax asset. Accordingly,
the Company has not recorded a tax provision in the accompanying financial statements.
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 5,000,000 units at a price of $10 per unit (the "public units") for gross proceeds of $50,000,000. The
units consist of one share of common stock and the right to receive one-tenth (1/10) of a share of common stock upon consummation
of an initial business combination. The non-binding agreement calls for an over-allotment option equal to 15% of the total number
of units initially offered to the public. The Company anticipates that the units will contain 1 share of the Company's common
stock and may contain other securities such as rights.
Note 4 — Private Placement
The sponsor has offered to purchase units
from the Company ("private units") at $10.00 per private unit. These purchases will take place on a private placement
basis simultaneously with the consummation of this offering. All of the proceeds the Company receive from these sales will
be placed in the trust account described in Note 1. If the over-allotment option is exercised by the underwriters, the sponsor
has offered to purchase from the Company at a price of $10.00 per private unit an additional number of private units
pro rata
with the amount of the over-allotment option exercised.
F-
9
SPK ACQUISITION CORP.
NOTES TO FINANCIAL STATEMENTS
Note 5 — Related Party Transactions
Founder Shares
Pursuant to a subscription agreement
dated January 28, 2021, the Company issued 1,437,500 shares of common stock to the sponsor for $25,000, or approximately $0.017
per share ("insider shares"). The 1,437,500 founder shares held or controlled by the insiders include an aggregate of
up to 187,500 shares subject to forfeiture to the extent that the underwriters' over-allotment option is not exercised in full
or in part.
Sponsor Promissory Note
On February 10, 2021, the Company issued an
unsecured promissory note to the sponsor, pursuant to which the Company  may borrow up to an aggregate principal
amount of $200,000 to be used for a portion of the expenses of the offering. This loan is non-interest bearing, unsecured, and
is due at the consummation of an initial public offering of the Company's securities or the date on which the Company determines
not to conduct an initial public offering of its securities. The outstanding principal balance of the sponsor promissory note
on February 10, 2021 was $200,000.
Additionally, if the funds held
outside the trust account upon the consummation of the proposed public offering are insufficient to meet the Company's working
capital needs, the Company's sponsor or their affiliates may, but are not obligated to loan the Company funds, from time
to time or at any time in an amount they deem reasonable at their sole discretion. Each loan would be evidenced by a promissory
note. The notes would either be paid upon consummation of the Company's initial business combination without interest, or
at the discretion of the holder up to $1,500,000 of the notes may be converted upon consummation of the Company' initial
business combination into private units at a price of $10.00 per unit. If the Company does not complete a business combination,
the loans will only be repaid with funds not held in the trust account, to the extent available.
Note 6 — Commitments and
Contingencies
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 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.
Legal Fees
In addition to the initial retainer paid to
its counsel in connection with the public offering, the Company has agreed to pay its counsel $150,000 upon closing of the initial
public offering and $25,000 upon closing of the initial business combination.
Underwriter's Agreement
On January 21, 2021, the Company entered into
a non-binding agreement with an underwriter who will act as lead managing underwriter of the proposed public offering. Pursuant
to this agreement, the underwriter would be entitled to an underwriting discount of 5.5%, which will be paid as follows: (a) 2.0%
of the underwriting discount shall be paid in cash at the offering; (b) the Company shall issue shares of its common stock valued
at $10 per share in an amount equal to 0.5% of the gross proceeds of the offering; and (c) 3.0% shall be deferred until the consummation
of a business combination involving the Company. Upon the registration statement filed with the SEC being declared effective,
the Company and the underwriter will enter into a definitive underwriting agreement.
Right of First Refusal
The Company has granted the underwriter,
subject to certain conditions for a period of 18 months after the date of the consummation of the initial business combination,
a right of first refusal to act as a co-manager or placement agent, with at least 25% of the economics, for any and all future
public and private equity and debt offerings. The duration of such right of first refusal is limited not more than three years
by certain regulatory rules.
Registration Rights
The holders of the insider's shares
are entitled to make a demand that the Company register the resale of the insider shares at any time commencing on the date
that we consummate our initial business combination.
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10
SPK ACQUISITION CORP.
NOTES TO FINANCIAL STATEMENTS
Note 7 — Shareholder's Equity
Common Stock
The Company is authorized to issue
5,000,000 shares of common stock with a par value of $0.0001 per share. As of February 10, 2021, there were 1,437,500 shares issued
and outstanding. The Company plans to file an Amended and Restated Certificate of Incorporation prior to the completion of
the proposed public offering to increase the number of authorized shares to 10,000,000 shares. As of February 10, 2021, there
were 1,437,500 shares issued and outstanding, of which an aggregate of up to 187,500 shares are subject to forfeiture to the extent
that the underwriters' over-allotment option is not exercised in full or in part, so that the insiders will collectively
own 20% of the Company's issued and outstanding common stock after the proposed public offering (assuming the insiders do
not purchase any public shares in the proposed public offering and excluding the private units).
Rights
Except in cases where the Company is not the
surviving Company in a business combination, the holders of the rights will automatically receive 1/10 of a share of common stock
upon consummation of the Company's initial business combination. In the event the Company will not be the surviving
company upon completion of the initial business combination, each holder of a right will be required to affirmatively convert
his, her or its rights in order to receive the 1/10 of a share underlying each right upon consummation of the business combination.
The Company will not issue fractional shares in connection with an exchange of rights. Fractional shares will either be
rounded down to the nearest whole share or otherwise addressed in accordance with the applicable provisions of the Delaware General
Corporation Law.
Note 8 — Subsequent Events
The Company considered subsequent events that
occurred after balance sheet date through March 1, 2021. Management did not identify any subsequent events that would have
required adjustment or disclosure in the financial statements.
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11
Until __________, 2021 (25 days after
the date of this prospectus), all dealers that buy, sell or trade our shares of common stock, whether or not participating in this
offering, may be required to deliver a prospectus. This is in addition to the dealers' obligation to deliver a prospectus when
acting as underwriters and with respect to their unsold allotments or subscriptions.
No dealer, salesperson or any other
person is authorized to give any information or make any representations in connection with this offering other than those contained
in this prospectus and, if given or made, the information or representations must not be relied upon as having been authorized
by us. This prospectus does not constitute an offer to sell or a solicitation of an offer to buy any security other than the securities
offered by this prospectus, or an offer to sell or a solicitation of an offer to buy any securities by anyone in any jurisdiction
in which the offer or solicitation is not authorized or is unlawful.
$50,000,000
SPK Acquisition Corp.
5,000,000 Units
PROSPECTUS
Sole Book-Running Manager
Chardan
[●], 2021
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 discount and commissions)
will be as follows:
Trustees fee
$
6,500
SEC Registration fees
$
6,932
FINRA filing fee
$
10,031
Accounting fees and expenses
$
40,000
Nasdaq listing fees
$
55,000
Printing and engraving expenses
$
45,000
Legal fees and expenses
$
300,000
Miscellaneous
(1)
$
36,537
Total
$
500,000
(1)
This amount represents additional expenses that may be incurred by the company in connection with the offering and over and above those specifically listed above, including liability insurance, distribution and mailing costs.
Item 14. Indemnification of Directors and Officers.
Our certificate of incorporation provides
that all directors, officers, employees and agents of the registrant shall be entitled to be indemnified by us to the fullest extent
permitted by Section 145 of the Delaware General Corporation Law.
Section 145 of the Delaware General
Corporation Law 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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(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.
(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).
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Insofar as indemnification for liabilities
arising under 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 its counsel the matter has been settled by controlling precedent, submit to the 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.
In accordance with Section 102(b)(7)
of the DGCL, our 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 unless they violated their duty of loyalty to the company or its stockholders, acted
in bad faith, knowingly or intentionally violated the law, authorized unlawful payments of dividends, unlawful stock purchases
or unlawful redemptions, or derived improper personal benefit from their actions as directors. The effect of this provision of
our 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 non-monetary 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 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 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 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, attorney's 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 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.
The right to indemnification conferred
by our 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 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 certificate of incorporation may have
or hereafter acquire under law, our certificate of incorporation, our bylaws, an agreement, vote of stockholders or disinterested
directors, or otherwise.
Any repeal or amendment of provisions
of our 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 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 certificate
of incorporation.
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Our bylaws, which we intend to adopt
immediately prior to the closing of this offering, include the provisions relating to advancement of expenses and indemnification
rights consistent with those set forth in our 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 indemnity agreements
with each of our officers and directors a form of which is filed as Exhibit 10.6 to this Registration Statement. These agreements
will require us to indemnify these individuals to the fullest extent permitted under Delaware law 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
filed as Exhibit 1.1 to this Registration Statement, we have agreed to indemnify the Underwriters  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.
On January 28, 2021, our sponsor
purchased 1,437,500 insider shares for an aggregate purchase price of $25,000, or approximately $0.017 per share. Our sponsor
expects to transfer 4,000 insider shares to the three independent directors at the closing of this offering. The per share purchase
price of the insider shares was determined by dividing the amount of cash contributed to the company by the aggregate number of
insider shares issued. The number of insider shares issued was determined based on the expectation that the insider shares would
represent 20% of the outstanding shares after this offering (not including the shares to be issued to the underwriter at closing
or the shares underlying the private placement units). As such, our insiders will collectively own 20% of our issued and
outstanding shares after this offering. Such shares were issued in connection with our organization pursuant to the exemption
from registration contained in Section 4(a)(2) of the Securities Act as they were sold to accredited investors.
We have agreed to issue Chardan and/or
its designees at the close of this offering, a   discount equal to 0.5% of the amount sold in this offering in the
form of our shares at a price of $10.00 per share (25,000 shares if the over-allotment option is not exercised, and up to 28,750
if the over-allotment option is exercised in full).
No underwriting discounts or commissions
were paid with respect to such sales.
Item 16. Exhibits and Financial Statement Schedules.
(a) The following exhibits are filed
as part of this Registration Statement:
EXHIBIT INDEX
Exhibit No.
Description
1.1
Form of Underwriting Agreement.
*
3.1
Certificate of Incorporation
.
*
3.2
Form of Amended and Restated Certificate of Incorporation.
*
3.3
Bylaws
.*
3.4
Amended and Restated Bylaws
.*
4.1
Specimen Unit Certificate.
*
4.2
Specimen Common Stock Certificate.
*
4.3
Specimen Right Certificate.
*
4.4
Form of Rights Agreement between Continental Stock Transfer & Trust Company and the Registrant.
*
5.1
Form of Opinion of Loeb & Loeb LLP.
10.1
Form of Insider Letter Agreement among the Registrant and the Registrant's Officers and Directors.
*
10.2
Form of Investment Management Trust Agreement by and between Continental Stock Transfer & Trust Company and the Registrant.
*
10.3
Form of Stock Escrow Agreement among the Registrant, Continental Stock Transfer & Trust Company, and the Insiders.
*
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10.4
Form of Registration Rights Agreement by and between the Registrant and Insiders.
*
10.5
Form of Indemnity Agreement.
*
10.6
Form
of Subscription Agreement between the Registrant and the insiders for Private Units.
*
10.7
Form of Subscription Agreement between Registrant and SPK Acquisition LLC.
*
14
Form of Code of Ethics.
*
23.1
Consent of UHY LLP
.
*
23.2
Consent of Loeb & Loeb LLP (included on Exhibit 5.1).
24
Power of Attorney (included on the signature page of the original filing hereof).
99.1
Form of Audit Committee Charter.
*
99.2
Form of Compensation Committee Charter.
*
*
Filed herewith
Item 17. Undertakings.
(a)
The undersigned registrant hereby undertakes:
(1)
To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:
i.
To include any prospectus required by Section 10(a)(3) of the Securities Act of 1933;
ii.
To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20 percent change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective registration statement;
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iii.
To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement.
(2)
That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment 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)
To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
(4)
That, for the purpose of determining any liability under the Securities Act of 1933 in a primary offering of securities of the 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 the 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.
(5)
That, for the purpose of determining liability under the Securities Act of 1933 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.
(b)
The undersigned hereby undertakes to provide to the underwriter at the closing specified in the underwriting agreements, certificates in such denominations and registered in such names as required by the underwriter to permit prompt delivery to each purchaser.
(c)
Insofar as indemnification for liabilities arising under the Securities Act of 1933 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 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 Act and will be governed by the final adjudication of such issue.
(d)
The undersigned registrant hereby undertakes that:
(1)
For purposes of determining any liability under the Securities Act of 1933, 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 of 1933, 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.
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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 NEW YORK, State of NEW YORK, on the 23rd day of April, 2021.
SPK ACQUISITION CORP.
By:
/s/Sophie Ye Tao
Name:
Sophie Ye Tao
Title:
Chairman and Chief Executive Officer
POWER OF ATTORNEY
KNOW ALL MEN BY THESE
PRESENTS, that each person whose signature appears below constitutes and appoints Sophie Ye Tao his or her true and
lawful attorney-in-fact, with full power of substitution and resubstitution for him or her and in his or her name, place and
stead, in any and all capacities to sign any and all amendments including post-effective amendments to this registration
statement, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities
and Exchange Commission, hereby ratifying and confirming all that said attorney-in-fact or his substitute, each acting alone,
may lawfully do or cause to be done by virtue thereof.
Pursuant to the requirements of the
Securities Act of 1933, this Registration Statement has been signed below by the following persons in the capacities and on the
dates indicated.
Signature
Title
Date
/s/Sophie Ye Tao
Chief Executive Officer (Principal executive officer) and Chairwoman
April
23, 2021
Sophie Ye Tao
/s/ Philip Chun-Hun
Kwan
Chief Financial Officer (Principal financial and accounting officer) and Director
April
23, 2021
Philip Chun-Hun Kwan
/s/ Greg Chang
Director
April
23, 2021
Greg Chang
/s/ Bryant Chou
Director
April
23, 2021
Bryant Chou
/s/Justin Chang
Director
April
23, 2021
Justin Chang
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