<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>As filed with the Securities and Exchange
Commission on&nbsp;October 13, 2020.</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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

<!-- Field: Rule-Page --><DIV STYLE="margin: 0pt auto; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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

<!-- Field: Rule-Page --><DIV STYLE="margin: 0pt auto; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Seaport Global Acquisition Corp.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified
in its charter)</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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

<!-- Field: Rule-Page --><DIV STYLE="margin: 0pt auto; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></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: 32%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 2%; border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 32%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>6770</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 2%; border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 32%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>85-2157010</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"><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="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Primary Standard
    Industrial <BR>
    Classification Code Number)</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center"><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: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>360 Madison Avenue, 20th Floor</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>New York, NY 10017<BR>
Telephone: 212-616-7700<BR>
</B>(Address,&nbsp;Including&nbsp;Zip&nbsp;Code,&nbsp;and&nbsp;Telephone&nbsp;Number,&nbsp;Including&nbsp;Area&nbsp;Code,&nbsp;of&nbsp;Registrant&rsquo;s&nbsp;Principal&nbsp;Executive&nbsp;Offices)</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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

<!-- Field: Rule-Page --><DIV STYLE="margin: 0pt auto; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Chairman and Chief Executive Officer</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>360 Madison Avenue, 20th Floor</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>New York, NY 10017<BR>
Telephone: 212-616-7700<BR>
</B>(Name, Address, Including Zip Code, and Telephone Number, Including Area Code, of Agent For Service)</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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

<!-- Field: Rule-Page --><DIV STYLE="margin: 0pt auto; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 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: top">
    <TD STYLE="width: 48%; text-align: center; font-size: 10pt"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Douglas
                                         S. Ellenoff, Esq.</B></FONT></P>
                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Stuart
                                         Neuhauser, Esq.</B></FONT></P>
                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Ellenoff
                                         Grossman&nbsp;&amp; Schole LLP</B></FONT></P>
                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1345
                                         Avenue of the Americas</B></FONT></P>
                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>New&nbsp;York,
                                         NY 10105</B></FONT></P>
                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Tel:
                                         (212) 370-1300</B></FONT></P></TD>
    <TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 51%; text-align: center; font-size: 10pt"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Joel
                                         L. Rubinstein, Esq.</B></FONT></P>
                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Daniel
                                         E. Nussen, Esq.</B></FONT></P>
                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>White
                                         &amp; Case LLP</B></FONT></P>
                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1221
                                         Avenue of the Americas</B></FONT></P>
                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>New
                                         York, New York 10020</B></FONT></P>
                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Tel:
                                         (212) 819-8200</B></FONT></P></TD></TR>
</TABLE>

<P STYLE="margin: 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 0pt auto; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"></P>


<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><B>Approximate date of commencement of proposed
sale to the public:</B> As soon as practicable after the effective date of this registration statement.</P>

<P STYLE="margin: 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
any of the securities being registered on this Form&nbsp;are to be offered on a delayed or continuous basis pursuant to Rule&nbsp;415
under the Securities Act of 1933 check the following box. </FONT><FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
this Form&nbsp;is filed to register additional securities for an offering pursuant to Rule&nbsp;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. </FONT><FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
this Form&nbsp;is a post-effective amendment filed pursuant to Rule&nbsp;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.
</FONT><FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
this Form&nbsp;is a post-effective amendment filed pursuant to Rule&nbsp;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.
</FONT><FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth
company. See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller reporting
company&rdquo; and &ldquo;emerging growth company&rdquo; in Rule&nbsp;12b-2 of the Exchange Act. (Check one):</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="margin-left: 24pt; font: 10pt Times New Roman, Times, Serif; width: 94%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 25%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Large accelerated filer</FONT></TD>
    <TD STYLE="width: 25%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD>
    <TD STYLE="width: 25%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accelerated filer</FONT></TD>
    <TD STYLE="width: 25%"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-accelerated filer</FONT></TD>
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#120;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Smaller reporting company</FONT></TD>
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#120;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Emerging growth company</FONT></TD>
    <TD><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#120;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><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&nbsp;7(a)(2)(B) of the Securities
Act. </FONT><FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>



<P STYLE="border-top: Black 1pt solid; font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CALCULATION
OF REGISTRATION FEE</B></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 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="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Title of Each Class of Security Being Registered</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Amount Being <BR>
    Registered</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Proposed<BR>
    Maximum<BR>
    Offering <BR>
    Price per<BR>
    Security<SUP>(1)</SUP></B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Proposed <BR>
    Maximum <BR>
    Aggregate <BR>
    Offering <BR>
    Price<SUP>(1)</SUP></B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Amount of<BR>
    Registration <BR>
    Fee</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="width: 42%; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Units, each consisting of one share
    of Class&nbsp;A common stock, $0.0001 par value, and one half of one redeemable warrant<SUP>(2)</SUP></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 19%; text-align: center"><FONT STYLE="font-size: 10pt">14,375,000 Units</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 8%; text-align: right"><FONT STYLE="font-size: 10pt">10.00</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 11%; text-align: right"><FONT STYLE="font-size: 10pt">143,750,000</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 10%; text-align: right"><FONT STYLE="font-size: 10pt">15,683.13</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Shares of Class&nbsp;A common stock included
    as part of the units<SUP>(3)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">14,375,000 Shares</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt"><SUP>(4)</SUP></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-bottom: 1pt; padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Redeemable warrants included
    as part of the units<SUP>(3)</SUP></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font-size: 10pt">7,187,500 Warrants</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt"><SUP>(4)</SUP></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">Total</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"><FONT STYLE="font-size: 10pt">143,750,000</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"><FONT STYLE="font-size: 10pt">15,683.13</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(1)</TD><TD STYLE="text-align: left">Estimated solely
                                         for the purpose of calculating the registration fee pursuant to Rule&nbsp;457(a).</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(2)</TD><TD STYLE="text-align: left">Includes 1,875,000
                                         units, consisting of 1,875,000 shares of Class&nbsp;A common stock and 937,500 redeemable
                                         warrants, which may be issued upon exercise of a 45-day option granted to the underwriters
                                         to cover over-allotments, if any.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(3)</TD><TD STYLE="text-align: left">Pursuant to
                                         Rule&nbsp;416 under the Securities Act, there are also being registered an indeterminable
                                         number of additional securities as may be issued to prevent dilution resulting from stock
                                         splits, stock dividends or similar transactions.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(4)</TD><TD STYLE="text-align: left">No fee pursuant
                                         to Rule&nbsp;457(g) under the Securities Act.</TD>
</TR></TABLE>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><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&nbsp;8(a)
of the Securities Act of 1933, as amended, or until the Registration Statement shall become effective on such date as the Securities
and Exchange Commission, acting pursuant to said Section&nbsp;8(a), may determine.</B></P>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #D2232A">The information in this prospectus is not complete
and may be changed. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission
is effective. This prospectus is not an offer to sell these securities and it is not soliciting an offer to buy these securities
in any jurisdiction where the offer or sale is not permitted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #D2232A">&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: 48%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #D2232A"><B>PRELIMINARY
    PROSPECTUS</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 51%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #D2232A"><B>SUBJECT
    TO COMPLETION, DATED OCTOBER 13, 2020</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>$125,000,000</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Seaport Global Acquisition Corp.</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>12,500,000 Units</B></P>

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

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

<!-- Field: Rule-Page --><DIV STYLE="margin: 0pt auto; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Seaport Global Acquisition Corp. is a newly
organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase,
reorganization or similar business combination with one or more businesses, which we refer to as our initial business combination.
We have not selected any specific business combination target and we have not, nor has anyone on our behalf, initiated any substantive
discussions, directly or indirectly, with any business combination target.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">This is an initial public offering of our
securities. Each unit has an offering price of $10.00 and consists of one share of our Class&nbsp;A common stock and one-half
of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of our Class&nbsp;A common stock
at a price of $11.50 per share, subject to adjustment as described herein. Only whole warrants are exercisable. The warrants will
become exercisable on the later of 30&nbsp;days after the completion of our initial business combination or 12 months from the
closing of this offering, and will expire five years after the completion of our initial business combination or earlier upon
redemption or liquidation, as described in this prospectus. No fractional warrants will be issued upon separation of the units
and only whole warrants will trade. The underwriters have a 45-day option from the date of this prospectus to purchase up to an
additional 1,875,000 units to cover over-allotments, if any. We will provide our public stockholders with the opportunity to redeem
all or a portion of their shares of our Class&nbsp;A common stock upon the completion of our initial business combination, subject
to the limitations described herein. If we do not complete our initial business combination within 24 months from the closing
of this offering, we will redeem 100% of the public shares for cash, subject to applicable law and certain conditions as further
described herein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our sponsor, Seaport Global SPAC, LLC, has
agreed to purchase an aggregate of 4,250,000 warrants (or 4,625,000 warrants if the over-allotment option is exercised in full)
at a price of $1.00 per warrant ($4,250,000 in the aggregate, or $4,625,000 if the over-allotment option is exercised in full)
each exercisable to purchase one share of our Class&nbsp;A common stock at a price of $11.50 per share, in a private placement
that will close simultaneously with the closing of this offering. We refer to these warrants throughout this prospectus as the
private placement warrants.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our initial stockholders, which include
our sponsor, own an aggregate of 3,593,750 shares of our Class&nbsp;B common stock (up to 468,750 shares of which are subject
to forfeiture depending on the extent to which the underwriters&rsquo; over-allotment option is exercised), which will automatically
convert into shares of Class&nbsp;A common stock at the time of our initial business combination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Currently, there is no public market for
our units, Class&nbsp;A common stock or warrants. We have applied to list our units on The Nasdaq Capital Market, or Nasdaq, under
the symbol &ldquo;SGAMU&rdquo;. We expect that our units will be listed on Nasdaq on or promptly after the date of this prospectus.
We cannot guarantee that our securities will be approved for listing on Nasdaq. We expect the Class&nbsp;A common stock and warrants
comprising the units will begin separate trading on the 52<SUP>nd</SUP> day following the date of this prospectus unless B. Riley
Securities, Inc., the representative of the underwriters, which we refer to in this prospectus as B. Riley Securities, Inc. informs
us of its decision to allow earlier separate trading, subject to our satisfaction of certain conditions. Once the securities comprising
the units begin separate trading, we expect that the Class&nbsp;A common stock and warrants will be listed on Nasdaq under the
symbols &ldquo;SGAM&rdquo; and &ldquo;SGAMW,&rdquo; respectively.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><B>We are an &ldquo;emerging growth company&rdquo;
under applicable federal securities laws and will be subject to reduced public company reporting requirements. Investing in our
securities involves a high degree of risk. See &ldquo;Risk Factors&rdquo; beginning on page 24 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&nbsp;419 blank check offerings.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Neither the U.S. Securities and Exchange
Commission (the &ldquo;SEC&rdquo;) 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.</P>

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

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

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&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-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Per
    Unit</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Total</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 72%; font: 10pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt">Public offering price</TD><TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">10.00</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">125,000,000</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Underwriting
    discounts and commissions</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><SUP>(1)</SUP></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0.55</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">6,875,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt">Proceeds, before
    expenses, to Seaport Global Acquisition Corp.</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">9.45</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">118,125,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
</TABLE>


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

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-indent: -24pt">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Includes
$0.35 per unit, or $4,375,000 in the aggregate (or $5,031,250 if the over-allotment option is exercised in full) payable to the
underwriters for deferred underwriting commissions which will be placed in a trust account located in the United&nbsp;States as
described herein and will only be payable upon consummation of our initial business combination. Does not include certain fees
and expenses payable to the underwriters in connection with this offering. See the section of this prospectus entitled &ldquo;Underwriting&rdquo;
beginning on page 132 for a description of compensation and other items of value payable to the underwriters.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Of the proceeds we receive from this offering
and the sale of the private placement warrants described in this prospectus, $125.0 million or $143.75 million if the underwriters&rsquo;
over-allotment option is exercised in full ($10.00 per unit in either case) will be deposited into a trust account in the United&nbsp;States
at J.P. Morgan Chase Bank, N.A., with Continental Stock Transfer&nbsp;&amp; Trust Company acting as trustee, and $1.75 million
will be available to pay fees and expenses in connection with the closing of this offering and for working capital following the
closing of this offering. The proceeds deposited in the trust account could become subject to the claims of our creditors, if
any, which could have priority over the claims of our public stockholders.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The underwriters are offering the units
for sale on a firm commitment basis. The underwriters expect to deliver the units to the purchasers on or about &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2020.</P>

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

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

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>B. Riley Securities, Inc.</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.25in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2020</P>



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

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

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&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-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>PAGE</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt"><A HREF="#S1_001">Summary</A></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><A HREF="#S1_001">1</A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><A HREF="#s2_001">Risk
    Factors</A></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><A HREF="#s2_001">24</A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><A HREF="#caution">Cautionary
    Note Regarding Forward-Looking Statements</A></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><A HREF="#caution">54</A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt"><A HREF="#use">Use of Proceeds</A></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><A HREF="#use">55</A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><A HREF="#divided">Dividend
    Policy</A></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><A HREF="#divided">59</A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt"><A HREF="#dilution">Dilution</A></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><A HREF="#dilution">60</A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt"><A HREF="#captilization">Capitalization</A></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><A HREF="#captilization">62</A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><A HREF="#management">Management&rsquo;s
    Discussion and Analysis of Financial Condition and Results of Operations</A></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><A HREF="#management">63</A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><A HREF="#proposed">Proposed
    Business</A></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><A HREF="#proposed">69</A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt"><A HREF="#s4_001">Management</A></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><A HREF="#s4_001">96</A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><A HREF="#s4_002">Principal
    Stockholders</A></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><A HREF="#s4_002">105</A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><A HREF="#s4_003">Certain
    Relationships and Related Party Transactions</A></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><A HREF="#s4_003">107</A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt"><A HREF="#s4_004">Description
    of Securities</A></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><A HREF="#s4_004">110</A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><A HREF="#material">Material
    U.S. Federal Income Tax Considerations</A></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><A HREF="#material">124</A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt"><A HREF="#underwriting">Underwriting</A></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><A HREF="#underwriting">132</A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><A HREF="#legal">Legal
    Matters</A></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><A HREF="#legal">140</A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt"><A HREF="#experts">Experts</A></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><A HREF="#experts">140</A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><A HREF="#where">Where
    You Can Find Additional Information</A></TD>
    <TD STYLE="font-size: 10pt; text-align: right"><A HREF="#where">140</A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 95%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><A HREF="#index">Index
    to Financial Statements</A></TD>
    <TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif; text-align: right"><A HREF="#index"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-1</FONT></A></TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><B>We are responsible for the information
contained in this prospectus. You should rely only on the information contained in this prospectus. We 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.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 4; Options: NewSection -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->i<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<DIV STYLE="padding: 10pt; border: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B><A NAME="S1_001"></A>SUMMARY</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><I>This summary only highlights the more
detailed information appearing elsewhere in this prospectus. You should read this entire prospectus carefully, including the information
under the section of this prospectus entitled &ldquo;Risk Factors&rdquo; and our financial statements and the related notes included
elsewhere in this prospectus, before investing. Unless otherwise stated in this prospectus, or the context otherwise requires,
references to:</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&ldquo;common
stock&rdquo; are to our Class&nbsp;A common stock and our Class&nbsp;B common stock, collectively;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&ldquo;founder
shares&rdquo; are to shares of our Class&nbsp;B common stock initially purchased by our sponsor in a private placement prior to
this offering, and the shares of our Class&nbsp;A common stock issued upon the conversion thereof as provided herein;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&ldquo;initial
stockholders&rdquo; are to our sponsor and any other holders of our founder shares prior to this offering (or their permitted
transferees);</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&ldquo;management&rdquo;
or our &ldquo;management team&rdquo; are to our officers and directors;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&ldquo;private
placement warrants&rdquo; are to the warrants initially issued to our sponsor in a private placement simultaneously with the closing
of this offering;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&ldquo;public
shares&rdquo; are to shares of our Class&nbsp;A common stock sold as part of the units in this offering (whether they are purchased
in this offering or thereafter in the open market);</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&ldquo;public
stockholders&rdquo; are to the holders of our public shares, including our initial stockholders and management team to the extent
our initial stockholders and/or members of our management team purchase public shares, provided that each initial stockholder&rsquo;s
and member of our management team&rsquo;s status as a &ldquo;public stockholder&rdquo; shall only exist with respect to such public
shares;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&ldquo;public
warrants&rdquo; are to our redeemable warrants sold as part of the units in this offering (whether they are purchased in this
offering or thereafter in the open market), to the private placement warrants if held by third parties other than our sponsor
(or permitted transferees), and to any private placement warrants issued upon conversion of working capital loans that are sold
to third parties that are not initial purchasers or executive officers or directors (or permitted transferees), in each case,
following the consummation of our initial business combination;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&ldquo;SGAM&rdquo;
are to Seaport Global Asset Management LLC, an SEC registered investment advisor affiliated with certain of our directors and
officers and our sponsor;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-indent: -25.5pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>&ldquo;sponsor&rdquo; are to Seaport Global SPAC, LLC, a Delaware limited liability company affiliated with certain of our
directors and officers and SGAM;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 49.5pt; text-indent: -25.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&ldquo;warrants&rdquo;
are to our redeemable warrants, which includes the public warrants as well as the private placement warrants to the extent they
are no longer held by the initial purchasers of the private placement warrants or their permitted transferees; and</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&ldquo;we,&rdquo;
 &ldquo;us,&rdquo; &ldquo;company&rdquo; or &ldquo;our company&rdquo; are to Seaport Global Acquisition Corp.</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><I>Unless we tell you otherwise, the information
in this prospectus assumes that the underwriters will not exercise their over-allotment option.</I></P>

</DIV>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 5; Options: NewSection -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<DIV STYLE="padding: 10pt; border: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B><A NAME="S1_002"></A>Overview</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We are a newly organized blank check company
incorporated as a Delaware corporation and formed for the purpose of effecting a merger, capital stock exchange, asset acquisition,
stock purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this
prospectus as our initial business combination. We have not selected any specific business combination target and we have not,
nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination target.
While we may pursue an initial business combination target in any stage of its corporate evolution or in any industry or sector,
we intend to focus our search on companies emerging from a reorganization or distressed situation.</P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B><A NAME="S1_003"></A>Management
Team and Affiliates</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our management team is comprised of industry
experts, whom we believe are well-positioned&nbsp;to identify and evaluate distressed businesses that would benefit from their
experience of leading investment firms. We believe our management team offers extensive experience in distressed and restructuring
transactions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Stephen C. Smith, Chairman and Chief
Executive Officer</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Stephen C. Smith, our Chairman and Chief
Executive Officer, founded Seaport Global Asset Management LLC (&ldquo;SGAM&rdquo;), an SEC registered investment advisor and
a wholly-owned subsidiary of Seaport Global Holdings LLC (&ldquo;SGH&rdquo;), in August 2017. Mr. Smith currently serves as SGAM&rsquo;s
Chief Executive Officer and Chairman of its Investment Committee and oversees all of SGAM&rsquo;s investing and business activities.
In April 2001, Mr. Smith co-founded The Seaport Group LLC (currently known as SGH), which is a full-service, mid-sized independent
investment bank that offers capital markets advisory, sales, trading and research services. Prior to that, from December 1999
to March 2001, Mr. Smith was a managing director at Amroc Securities, LLC, a financial service firm, where he focused on distressed
sales and trading. In June 1991, he co-founded a distressed debt broker-dealer, Libra Investments, Inc., which was acquired by
U.S. Bancorp in January 1999. Mr. Smith began his career at Merrill Lynch in 1982 and from 1984 to 1988 he ran the taxable fixed
income trading desk for its unit trust department. In addition, Mr. Smith worked as a salesperson at S.N. Phelps &amp; Co., a
financial management firm, from 1988 to 1989 and Jefferies &amp; Company, a financial services company, from 1989 to 1991.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Michael Ring, our Chief Financial Officer,
has been serving as Chief Financial Officer and Chief Compliance Officer at SGAM since February 2018 and Chief Financial Officer
of Seaport Specialty Lending LLC, a specialty finance company, since August 2019. Prior to joining SGAM, he served as Chief Financial
Officer and Chief Compliance Officer at Alta Fundamental Advisers, LLC, an SEC registered investment adviser, from May 2013 to
February 2018, where he was responsible for managing all finance, compliance, and operational functions, including financial reporting,
treasury &amp; cash management, corporate finance, regulatory compliance matters and investor relations. Prior to that, Mr. Ring
worked as Chief Financial Officer and Chief Compliance Officer for Eastwind Global Partners, an asset manager company, from March
2012 to June 2013. From May 2004 to June 2012, he worked as controller, operations manager and Chief Compliance Officer at Restoration
Capital Management LLC, an SEC registered investment adviser. Prior to Restoration Capital Management, Mr. Ring worked for State
Street Bank and Sumitomo Trust and Banking in their securities lending departments, and at Scudder Kemper Investments as a fund
accountant in 1999.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Jay Burnham, our director nominee, is a
member of SGAM&rsquo;s Investment Committee and the Managing Member of Sunset Way LLC, an asset management company. Mr. Burnham
previously served as a Portfolio Manager and Managing Member of Armory Advisors, LLC, a special situations and distressed debt
asset management firm that is affiliated with SGAM. Prior to joining Armory Advisors, LLC, Mr. Burnham was a portfolio manager
at Cypress Management, LLC, an investment management firm, from May 2003 to June 2004. From November 2001 to May 2003, Mr. Burnham
was an Investment Manager at Rocker Management, LLC, an investment management company, where he was responsible for distressed
debt and equity investments in companies in a variety of industries and participated as a major creditor in the restructuring
of XM Satellite Radio. From April 1999 to November 2001, he was a founder and an investment manager at Reprise Capital Partners,
LLC, a distressed debt investment firm. From March 1996 to March 1999, Mr. Burnham was an Investment Manager at DDJ Capital Management,
LLC, an investment management company. From January 1995 to February 1996, he was an investment analyst at Libra Investments,
Inc., a distressed debt broker-dealer founded by our Chairman. From June 1990 to November 1994, he was an investment manager at
Paul D. Sonz Partners, an investment management company. Mr. Burnham has acted as a director of a number of public and private
companies in turnaround situations, including acting as a director of Live Entertainment, Inc. (Nasdaq: LVE), a film distribution
company that was acquired by Bain Capital in 1997 and became Artisan Entertainment, Inc., Bally&rsquo;s Grand, Inc. (Nasdaq: BGLV),
a gaming and entertainment company that was acquired by Bally&rsquo;s Entertainment Corp., and New Millennium Homes, LLC, a California
based homebuilding company.&nbsp;</P>

</DIV>

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

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

<!-- Field: Page; Sequence: 6 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<DIV STYLE="padding: 10pt; border: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Shelley
                                         Greenhaus, Director Nominee</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Shelley Greenhaus, our director nominee,
is the founder and President of Whippoorwill Associates, Inc., which manages investments in corporate reorganizations, liquidations
and other related activities and was founded in December 1990. Prior to that, from 1983 to 1990, he worked as a portfolio manager
at Oppenheimer &amp; Co. Inc., a full-service brokerage firm and investment bank, with responsibility for distressed investments.<FONT STYLE="color: #1f497d">&nbsp;
</FONT>From 1981 to 1983<FONT STYLE="color: #1f497d">,</FONT>&nbsp;Mr. Greenhaus became a financial analyst and portfolio manager
for the William Rosenwald Family, a family office, where he was primarily involved in analyzing and managing investments involving
corporate reorganizations, liquidations and related special situations.&nbsp;<FONT STYLE="color: #1f497d">&nbsp;</FONT>He began
his business career in 1978, working as a financial analyst at Loeb, Rhoades, Hornblower &amp; Co., a brokerage company, where
he was primarily involved in analyzing risk arbitrage opportunities and distressed securities.<FONT STYLE="color: #1f497d">&nbsp;
</FONT>From January 1999 to October 2003, Mr. Greenhaus served on the board of directors of Barneys New York, Inc. (Nasdaq: BNNY),
a fashion retailer; from October 1998 to December 2004, he served on the board of director of Marvel Enterprises, Inc. (NYSE:
MVL), a content entertainment company; and from November 1996 to December 2004, he served on the board of directors of GWI Holding,
Inc. (Garden Way), a privately held power equipment company.&nbsp;&nbsp;In October 2017, he joined the board of directors of Commercial
Furniture Group, Inc., a commercial furnishings company.</P>

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



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B>Jeremy Hedberg,
Director Nominee</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Mr. Jeremy Hedberg, our director nominee,
has worked as a Partner, Co-Chief Investment Officer and Co-Head of Corporate and Traded Credit at V&auml;rde Partners, Inc. (&ldquo;V&auml;rde&rdquo;),
a global alternative investment advisor currently managing $14 billion that has invested over $70 billion since inception. He
joined V&auml;rde in November 1997 and has managed V&auml;rde&rsquo;s liquid investing activities globally and led V&auml;rde&rsquo;s
significant investments in the residential mortgage sector in the U.S. He has served on a number of boards of portfolio companies
owned by the V&auml;rde funds. He has also served on many official creditors&rsquo; committees and a number of adhoc committees
to restructure companies in bankruptcy, including, but not limited to, Capmark Financial Group, Inc. a commercial finance company,
Chiquita Brands International, Inc., a global fruit and food company, and Flag Telecom Holdings Ltd, a provider of international
wholesale network services. Prior to joining V&auml;rde, Jeremy worked for Goldner Hawn Johnson &amp; Morrison, a private equity
fund specializing in middle-market leveraged buyouts, from June 1996 to October 1997. He also previously worked for Wessels, Arnold
 &amp; Henderson, a full-service investment bank specializing in high-growth companies, from May 1994 to June 1996.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B>Charles Yamarone,
Director Nominee</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Mr.
Charles Yamarone, our director nominee, has served as the Chief Corporate Governance and Compliance Officer of Houlihan Lokey,
Inc. (NYSE: HLI), a global investment bank (&ldquo;Houlihan Lokey&rdquo;), since January 2016, where he advises senior management
on all aspects of Houlihan Lokey&rsquo;s corporate governance, compliance and internal audit, including Houlihan Lokey&rsquo;s
initial public offering in August 2015. From January 2014 to May 2015, he was a Managing Director in Houlihan Lokey&rsquo;s capital
markets group, where he had been a senior investment banker since November 2009.&nbsp; Between 1991 and 2009, Mr. Yamarone was
a senior officer of Libra Securities, an institutional broker dealer, and he was involved in all areas of Libra Securities&rsquo;
business, including capital markets, corporate finance, sales and trading, research, legal, compliance, and operations.&nbsp;
From January 1996 to July 2020, Mr. Yamarone was a director of the El Paso Electric Company (NYSE: EE), where he served as chairman
of the audit committee, compensation committee and a member of the energy and resource committee. He was the Chairman of the Board
of El Paso Electric from February 2015 until July 2020. From October 2010 to June 2016, Mr. Yamarone served as a member of the
board of directors, chair of the compensation committee, a member of the executive committee and audit committee of United Continental
Holdings, Inc. (NYSE: UAL).&nbsp; From February 1995 to October 2010, Mr. Yamarone served as a member of the board of directors
of Continental Airlines, Inc. (NYSE: CAL), where he was chairman of the human resources committee and a member of the corporate
governance committee.&nbsp; He previously served as a director of other companies, including Bally's Grand, Inc., </FONT>(Nasdaq:
BGLV), a gaming and entertainment company that was acquired by Bally&rsquo;s Entertainment Corp., LIVE Entertainment, Inc. (Nasdaq:
LVE), a film distribution company that was acquired by Bain Capital in 1997 and became Artisan Entertainment, Inc., Merry-Go-Round
Enterprises, Inc. (NYSE: MGRE), a national clothing retail chain, and Vagabond Inn Corporation, a hotel chain.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We believe our affiliation with SGAM and
SGH and the significant financial and operational restructuring expertise of our team provide us with important competitive advantages
for sourcing, pursuing and evaluating an initial business combination within our target universe.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Stephen C. Smith, our Chairman and Chief
Executive Officer, founded SGAM, an SEC registered investment advisor and an alternative investment management firm, in August
2017. SGAM focuses on distressed, special situation and event-driven securities. Its investment objective is to achieve exceptional
risk-adjusted capital appreciation through investments in various securities of companies, which are in financial and/or legal
distress or have recently emerged from financial reorganizations or lawsuits. At the core of SGAM&rsquo;s strategy is deep-rooted,
credit- and equity-based fundamental analysis, leveraging the team&rsquo;s distressed, legal, bankruptcy and financial expertise.
SGAM believes that distressed securities can often be purchased at discounts to intrinsic value given the complexities surrounding
their restructuring. SGAM complements its liquid investment strategy with illiquid investments where it has taken an active approach
to managing such investments often through participation on credit committees, liquidating trusts and board positions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Stephen C. Smith, our Chairman and Chief
Executive Officer, also founded SGH, the parent company of SGAM, in 2001. SGH is a global investment bank that has advised clients
for nearly twenty years on multi-industry distressed asset investing and capital markets advisory, sales, trading and research
services.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Past performance of our management team,
SGAM and SGH is not a guarantee either (i)&nbsp;of success with respect to any business combination we may consummate, or (ii)&nbsp;that
we will be able to identify a suitable candidate for our initial business combination. You should not rely on the historical performance
record of our management team or SGAM as indicative of our future performance. Our officers and directors have no experience with
blank check companies or special purpose acquisition companies. In addition, for a list of members of our management team and
entities for which a conflict of interest may or does exist between such persons and the company, as well as the priority that
such entity has with respect to performance of obligations and presentation of business opportunities to us, please refer to the
table and subsequent explanatory paragraph under &ldquo;Management&nbsp;&mdash; Conflicts of Interest&rdquo;.<B>&nbsp;</B></P>

</DIV>

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

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

<!-- Field: Page; Sequence: 7 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<DIV STYLE="padding: 10pt; border: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="S1_004"></A>Business
                                         Strategy</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our business strategy is to identify and
complete our initial business combination with companies emerging from a reorganization or distressed situation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The onset of COVID-19 has created an unprecedented
impact on the global economy. Certain industries may experience strain and have the ability to recover; however, others may experience
structural changes that will force companies to rethink how they conduct business. Nearly every industry is adjusting its operating
and financial paradigm to manage day-to-day business operations more effectively and safely in the current environment. Many of
these adjustments include operational and financial restructurings. The principal owners of post-restructuring companies typically
benefit from a significant reduction in liabilities, including lower financial indebtedness, employee benefit obligations, litigation
liabilities, contractual commitments and a generally lower operating cost structure. Such target companies often have underexploited
opportunities for continued growth as a result of prior under-investment. Further, based on our extensive experience, management
teams often exit restructurings with increased financial and operating discipline and with meaningful equity ownership. Given
the inefficiencies that exist in the post-reorganization market, we believe a business combination within our target universe
can be completed at a discount to its intrinsic value and publicly-traded peers.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our business combination criteria will not
be limited to a particular industry or geographic sector, however, given the experience of our management team, we intend to focus
our search on companies with an enterprise value of approximately $400 million to $1 billion.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We have identified the following general
criteria and guidelines that we believe are consistent with our acquisition philosophy and our management&rsquo;s experience,
and that we believe are important in evaluating prospective business combination opportunities. We intend to use these criteria
and guidelines to evaluate business combination opportunities, but we may decide to consummate our initial business combination
with a target business that does not meet one or more of these criteria and guidelines.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Financial
                                         Health. We expect to seek out companies that have financially sound balance sheets but
                                         may have been troubled previously. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Extenuating
                                         Circumstance. We believe there are many companies &ndash; across industries &ndash; that
                                         were negatively impacted by the onset of COVID-19 pandemic, have restructured their businesses,
                                         changed their original business plans, streamlined their operations and are planning
                                         for a new phase of high growth. Other factors that may contribute to our potential target
                                         companies include previously excessive leverage, challenging industry conditions, material
                                         litigation, regulatory shifts, macroeconomic events, performance disruptions, lack of
                                         management execution or any combination thereof.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Leading
                                         Industry Market Position. We intend to pursue companies whose products or services have
                                         leading positions within their respective markets with sustainable competitive advantages
                                         and natural barriers to market entry.</FONT></TD></TR></TABLE>

<P STYLE="margin: 0"></P>



<P STYLE="margin: 0"></P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Free
                                         Cash Flow. We will seek to acquire a company that has demonstrated or can demonstrate
                                         attractive operating margins that result in sustainable free cash flow.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Strong
                                         Management Team. We expect to seek out a company that has a management team that has
                                         a sustainable track record of managerial performance.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Favorable
                                         Industry Outlook. We will seek out target businesses that are operating in industries
                                         benefiting from unique market conditions or experiencing a favorable growth outlook.
                                         Our management team has experience investing in and operating companies across multiple
                                         industries.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Potential
                                         Acquisitions. We intend to evaluate companies that could benefit from strategic acquisitions
                                         to expand their market vertical. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Benefit
                                         from Public Company. We intend to acquire a business that can benefit from being publicly-traded
                                         and can effectively utilize broader access to capital.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">These criteria are not intended to be exhaustive.
Any evaluation relating to the merits of a particular initial business combination may be based, to the extent relevant, on these
general guidelines as well as other considerations, factors and criteria that our management team may deem relevant. In the event
that we find an opportunity that has characteristics more compelling to us than the characteristics described above, we would
pursue such opportunity.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We intend to leverage the following sources
of competitive strength in seeking to achieve our business strategy:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.32in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
                                         distressed investing expertise of our management team, who have collectively participated
                                         in transactions with more than $100 billion of enterprise value.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 42pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.32in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Transaction
                                         expertise within our target enterprise value range.</FONT></TD>
</TR></TABLE>

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

</DIV>

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

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

<!-- Field: Page; Sequence: 8 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<DIV STYLE="padding: 10pt; border: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.32in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Deep
                                         industry relationships that provide a substantial pipeline of acquisition opportunities,
                                         either proprietary or through affiliates.</FONT></TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.32in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
                                         expertise of our management and board of directors as fiduciaries and directors of both
                                         asset managers investing in distressed securities and the companies in which they are
                                         invested.</FONT></TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.32in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Experience
                                         structuring complex capital markets transactions involving both private and public companies.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 42pt; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our management team and professionals at
SGAM have extensive experience in identifying, investing in and partnering with operating companies that have completed a restructuring.
Over the past 20 years, since co-founding SGAM and its affiliates, Stephen C. Smith, our Chairman and Chief Executive Officer,
has been evaluating and investing in companies during the entirety of the re-organization process, including Chapter 11 bankruptcies
with notable expertise investing in post-reorganization companies. As a result, we expect to benefit from the expertise and extensive
network of contacts of both our management team and that of SGAM. The principals of SGAM and our management team have a significant
number of relationships across the restructuring industry, which includes operating executives, industry experts, investment bankers,
lawyers, consultants and advisors. We believe these relationships will provide us with acquisition opportunities across a variety
of industries. Our board of directors has significant leadership experience in driving growth and creating value in post-reorganization
companies, both public and private, ultimately leading to successful sales of such enterprises. We believe this collective experience
and success notably within the post-reorganization market will provide us an advantage with potential business combination targets
both pre- and post-transaction.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Our Acquisition, Investment and Post-Closing
Process</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In evaluating prospective business combinations,
we expect to conduct a thorough due diligence review process that will encompass, among other things: an analysis of overall industry
and competitive conditions, a review of historical financial and operating data, meetings with incumbent management and employees
and interaction with third-parties who are industry experts of facilities and assets, discussion with customers and suppliers,
legal and other reviews as we deem appropriate. We will also utilize the expertise of our management team and our sponsor&rsquo;s
and its affiliates&rsquo; resources in analyzing and evaluating operating plans, financial projections and determining the appropriate
return expectations given the risk profile of the target business as well as the suitability of the target to become a public
company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We are not prohibited from pursuing an initial
business combination with a company that is affiliated with our sponsor, officers, directors or their affiliates, subject to certain
approvals and consents. In the event we seek to complete our initial business combination with a company that is affiliated with
our sponsor, officers, directors or their affiliates, we, or a committee of independent directors, will obtain an opinion from
an independent investment banking firm or another independent firm that commonly renders fairness opinions that our initial business
combination is fair to us from a financial point of view.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Nasdaq rules require that we must complete
one or more business combinations having an aggregate fair market value of at least 80% of the value of the assets held in the
trust account (excluding the deferred underwriting commissions and taxes payable on the interest earned on the trust account)
at the time of our signing a definitive agreement in connection with our initial business combination. Our board of directors
will make the determination as to the fair market value of our initial business combination. If our board of directors is not
able to independently determine the fair market value of our initial business combination, we will obtain an opinion from an independent
investment banking firm or another independent entity that commonly renders valuation opinions with respect to the satisfaction
of such criteria. While we consider it unlikely that our board of directors will not be able to make an independent determination
of the fair market value of our initial business combination, it may be unable to do so if it is less familiar or experienced
with the business of a particular target or if there is a significant amount of uncertainty as to the value of a target&rsquo;s
assets or prospects. Additionally, pursuant to Nasdaq rules, any initial business combination must be approved by a majority of
our independent directors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We anticipate structuring our initial business
combination either (i)&nbsp;in such a way 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, or (ii)&nbsp;in such a way so that
the post-transaction company owns or acquires less than 100% of such interests or assets of the target business in order to meet
certain objectives of the target management team or stockholders, or for other reasons. However, we will only complete an initial
business combination if the post-transaction company owns or acquires 50% or more of the outstanding voting securities of the
target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment
company under the Investment Company Act of 1940, as amended, or the &ldquo;Investment Company Act&rdquo;. Even if the post-transaction
company owns or acquires 50% or more of the voting securities of the target, our stockholders prior to the initial business combination
may collectively own a minority interest in the post-transaction company, depending on valuations ascribed to the target and us
in the initial business combination. 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 taken into account
for purposes of Nasdaq&rsquo;s 80% fair market value test. If the initial business combination involves more than one target business,
the 80% fair market value test will be based on the aggregate value of all of the transactions and we will treat the target businesses
together as the initial business combination for purposes of a tender offer or for seeking stockholder approval, as applicable.&nbsp;</P>

</DIV>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 9 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<DIV STYLE="padding: 10pt; border: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>Our
                                         Business Combination Process</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Members of our management team may directly
or indirectly own our founders shares, common stock and/or private placement warrants following this offering, and, accordingly,
may have a conflict of interest in determining whether a particular target business is an appropriate business with which to effectuate
our initial business combination. Further, each of our officers and directors may have a conflict of interest with respect to
evaluating a particular business combination if the retention or resignation of any such officers and directors were to be included
by a target business as a condition to any agreement with respect to our initial business combination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Each of our officers and directors presently
has, and any of them in the future may have additional, fiduciary or contractual obligations to other entities pursuant to which
such officer or director is or will be required to present a business combination opportunity. Accordingly, if any of our officers
or directors becomes aware of a business combination opportunity which is suitable for an entity to which he or she has then-current
fiduciary or contractual obligations to present the opportunity to such entity, he or she will honor his or her fiduciary or contractual
obligations to present such opportunity to such entity. We believe, however, that the fiduciary duties or contractual obligations
of our officers or directors will not materially affect our ability to complete our initial business combination, as we believe
any such opportunities presented would be smaller than what we are interested in, in different fields than what we would be interested
in, or that our obligations are to entities that are not themselves in the business of engaging in business combinations. Our
amended and restated certificate of incorporation will provide that we renounce our interest in any corporate opportunity offered
to any director or officer unless such opportunity is expressly offered to such person solely in his or her capacity as a director
or officer of our company and such opportunity is one we are legally and contractually permitted to undertake and would otherwise
be reasonable for us to pursue, and to the extent the director or officer is permitted to refer that opportunity to us without
violating another legal obligation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our officers and directors may become an
officer or director of another special purpose acquisition company with a class of securities intended to be registered under
the Securities Exchange Act of 1934, as amended, or the Exchange Act, even before we have entered into a definitive agreement
regarding our initial business combination.</P>

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



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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our executive offices are located at 360
Madison Avenue, 20th Floor, New York, NY 10017 and our telephone number is 212-616-7700.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We are 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;). 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 independent registered public accounting firm attestation
requirements of Section&nbsp;404 of the Sarbanes-Oxley Act of 2002 (the &ldquo;Sarbanes-Oxley Act&rdquo;), 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 Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In addition, Section&nbsp;107 of the JOBS
Act also provides that an emerging growth company can take advantage of the extended transition period provided in Section&nbsp;7(a)(2)(B)
of the Securities Act for complying with new or revised accounting standards. In other words, an 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.&nbsp;</P>

</DIV>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 10 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<DIV STYLE="padding: 10pt; border: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We
                                         will remain an emerging growth company until the earlier of (1)&nbsp;the last day of
                                         the fiscal year (a)&nbsp;following the fifth anniversary of the completion of this offering,
                                         (b)&nbsp;in which we have total annual gross revenue of at least $1.07 billion, or (c)&nbsp;in
                                         which we are deemed to be a large accelerated filer, which means the market value of
                                         our Class&nbsp;A common stock that is held by non-affiliates exceeds $700 million as
                                         of the prior June 30<SUP>th</SUP>, and (2)&nbsp;the date on which we have issued more
                                         than $1.0 billion in non-convertible debt securities during the prior three-year period.
                                         References herein to emerging growth company will have the meaning associated with it
                                         in the JOBS Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Additionally, we are a &ldquo;smaller reporting
company&rdquo; as defined in Rule&nbsp;10(f)(1) of Regulation S-K. Smaller reporting companies may take advantage of certain reduced
disclosure obligations, including, among other things, providing only two years of audited financial statements. We will remain
a smaller reporting company until the last day of the fiscal year in which (1)&nbsp;the market value of our common stock held
by non-affiliates&nbsp;exceeds $250&nbsp;million as of the prior June 30<SUP>th</SUP>, or (2)&nbsp;our annual revenues exceed
$100&nbsp;million during such completed fiscal year and the market value of our common stock held by non-affiliates&nbsp;exceeds
$700&nbsp;million as of the prior June 30<SUP>th</SUP>.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><I>In deciding 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&nbsp;419
promulgated under the Securities Act. You will not be entitled to protections normally afforded to investors in Rule&nbsp;419
blank check offerings. You should carefully consider these and the other risks set forth in the section of this prospectus entitled
 &ldquo;Risk Factors.&rdquo;</I></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="border-top: Black 1pt solid; text-indent: -0.125in; padding-left: 0.125in; padding-top: 5pt; vertical-align: top; width: 25%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Securities
    offered</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; padding-top: 5pt; white-space: nowrap; vertical-align: top; width: 2%">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-top: 5pt; vertical-align: bottom; width: 73%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12,500,000
    units, at $10.00 per unit, each unit consisting of:</FONT></TD></TR>
<TR>
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; padding-top: 5pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; white-space: nowrap; vertical-align: top">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; text-indent: 0.125in; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;&nbsp;&nbsp;&nbsp;one
    share of Class&nbsp;A common stock; and</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: -0.125in; padding-left: 0.125in; padding-top: 5pt; padding-bottom: 2pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; padding-bottom: 2pt; white-space: nowrap; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; text-indent: 0.125in; padding-bottom: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;&nbsp;&nbsp;&nbsp;one-half
    of one redeemable warrant.</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: -0.125in; padding-left: 0.125in; padding-top: 5pt; padding-bottom: 2pt; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Proposed
    Nasdaq symbols</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; padding-bottom: 2pt; white-space: nowrap; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; padding-bottom: 2pt; vertical-align: bottom"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Units:
                                         &ldquo;SGAMU&rdquo;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Class&nbsp;A Common Stock: &ldquo;SGAM&rdquo;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Warrants: &ldquo;SGAMW&rdquo;</P></TD></TR>
<TR>
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; padding-top: 5pt; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Trading
    commencement and separation of Class&nbsp;A common stock and warrants</B></FONT></TD>
    <TD STYLE="padding-top: 5pt; white-space: nowrap; vertical-align: top">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    units will begin trading on or promptly after the date of this prospectus. We expect the Class&nbsp;A common stock and warrants
    comprising the units will begin separate trading on the 52<SUP>nd</SUP> day following the date of this prospectus unless B.
    Riley Securities, Inc. informs us of its decision to allow earlier separate trading, subject to our having filed the Current
    Report on Form&nbsp;8-K described below and having issued a press release announcing when such separate trading will begin.
    Once the shares of Class&nbsp;A common stock and warrants commence separate trading, holders will have the option to continue
    to hold units or separate their units into the component securities. Holders will need to have their brokers contact our transfer
    agent in order to separate the units into shares of Class&nbsp;A common stock and warrants. No fractional warrants will be
    issued upon separation of the units and only whole warrants will trade. Accordingly, unless you purchase at least two units,
    you will not be able to receive or trade a whole warrant.</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: -0.125in; padding-left: 0.125in; padding-top: 5pt; padding-bottom: 2pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; padding-bottom: 2pt; white-space: nowrap; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; padding-bottom: 2pt; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
    no event will the Class&nbsp;A common stock and warrants be traded separately until we have filed a Current Report on Form&nbsp;8-K
    with the SEC containing an audited balance sheet reflecting our receipt of the gross proceeds at the closing of this offering.
    We will file the Current Report on Form&nbsp;8-K promptly after the closing of this offering, which is anticipated to take
    place three business days from the date of this prospectus. If the underwriters&rsquo; over-allotment option is exercised
    following the initial filing of such Current Report on Form&nbsp;8-K, a second or amended Current Report on Form&nbsp;8-K
    will be filed to provide updated financial information to reflect the exercise of the underwriters&rsquo; over-allotment option.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

</DIV>

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

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

<!-- Field: Page; Sequence: 11 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<DIV STYLE="padding: 10pt; border: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="border-bottom: Black 0.75pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; padding-top: 5pt; vertical-align: top; width: 25%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Units:</B></FONT></TD>
    <TD STYLE="padding-top: 5pt; vertical-align: top; width: 2%">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; vertical-align: bottom; width: 73%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Number
    outstanding before this offering</FONT></TD>
    <TD STYLE="padding-top: 5pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 2pt; vertical-align: top; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Number
    outstanding after this offering</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; vertical-align: top; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 2pt; vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12,500,000<SUP>(1)</SUP></FONT></TD></TR>
<TR>
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Common
    stock:</B></FONT></TD>
    <TD STYLE="padding-top: 5pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Number
    outstanding before this offering</FONT></TD>
    <TD STYLE="padding-top: 5pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,593,750
    shares of Class&nbsp;B common stock<SUP>(2)</SUP></FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 2pt; vertical-align: top; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Number
    outstanding after this offering</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; vertical-align: top; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 2pt; vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12,500,000
    shares of Class&nbsp;A common stock and 3,125,000 Class&nbsp;B common stock<SUP>(1)(3)</SUP></FONT></TD></TR>
<TR>
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Redeemable
    Warrants:</B></FONT></TD>
    <TD STYLE="padding-top: 5pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Number
    of private placement warrants to be sold in a private placement simultaneously with this offering</FONT></TD>
    <TD STYLE="padding-top: 5pt; vertical-align: top"></TD>
    <TD STYLE="vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,250,000</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 2pt; vertical-align: top; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Number
    of warrants to be outstanding after this offering and the private placement</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; vertical-align: top; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 2pt; vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10,500,000<SUP>(1)</SUP></FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 2pt; vertical-align: top; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercisability</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; vertical-align: top; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; vertical-align: bottom; padding-bottom: 2pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Each
                                         whole warrant is exercisable to purchase one share of our Class&nbsp;A common stock and
                                         only whole warrants are exercisable.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We structured each unit to contain one-half of one
        redeemable warrant, with each whole warrant exercisable for one share of Class&nbsp;A common stock, as compared to units
        issued by some other similar blank check companies which contain whole warrants exercisable for one whole share, in order
        to reduce the dilutive effect of the warrants upon completion of an initial business combination as compared to units
        that each contain a warrant to purchase one whole share, thus making us, we believe, a more attractive initial business
        combination partner for target businesses.</P></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 2pt; vertical-align: top; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercise
    price</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; vertical-align: top; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 2pt; vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$11.50
    per share, subject to adjustment as described herein. In addition, if (x)&nbsp;we issue additional shares of Class&nbsp;A
    common stock or equity-linked securities for capital raising purposes in connection with the closing of our initial business
    combination at an issue price or effective issue price of less than $9.20 per share of Class&nbsp;A common stock (with such
    issue price or effective issue price to be determined in good faith by our board of directors and, in the case of any such
    issuance to our sponsor or its affiliates, without taking into account any founder shares held by our sponsor or such affiliates,
    as applicable, prior to such issuance) (the &ldquo;Newly Issued Price&rdquo;), (y)&nbsp;the aggregate gross proceeds from
    such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of our
    initial business combination on the date of the consummation of our initial business combination (net of redemptions), and
    (z)&nbsp;the volume weighted average trading price of our Class&nbsp;A common stock during the 20 trading day period starting
    on the trading day prior to the day on which we consummate our initial business combination (such price, the &ldquo;Market
    Value&rdquo;) is below $9.20 per share, then the exercise price of the warrants will be adjusted (to the nearest cent) to
    be equal to 115% of the greater of the Market Value and the Newly Issued Price, and the $18.00 per share redemption trigger
    price described below under &ldquo;Redemption of warrants&rdquo; will be adjusted (to the nearest cent) to be equal to 180%
    of the greater of the Market Value and the Newly Issued Price.</FONT></TD></TR>
</TABLE>

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

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 12%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(1)</TD><TD STYLE="text-align: left">Assumes no exercise
                                         of the underwriters&rsquo; over-allotment option and the forfeiture by our sponsor of
                                         468,750 founder shares.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(2)</TD><TD STYLE="text-align: left">Includes up
                                         to 468,750 shares that are subject to forfeiture by our sponsor depending on the extent
                                         to which the underwriters&rsquo; over-allotment option is exercised.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left">(3)</TD><TD STYLE="text-align: left">Comprised of
                                         12,500,000 shares of Class&nbsp;A common stock and 3,125,000 shares of Class&nbsp;B common
                                         stock (or founder shares). The Class&nbsp;B common stock is convertible into shares of
                                         our Class&nbsp;A common stock on a one-for-one basis, subject to adjustment as described
                                         below adjacent to the caption &ldquo;Founder shares conversion and anti-dilution rights.&rdquo;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-indent: -24pt"></P>

</DIV>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-indent: -24pt"></P>

<!-- Field: Page; Sequence: 12 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<DIV STYLE="padding: 10pt; border: Black 1pt solid"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR><TD STYLE="border-top: Black 1pt solid; vertical-align: top; padding-top: 5pt; width: 25%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercise
        period</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; padding-top: 5pt; vertical-align: top; width: 2%">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; vertical-align: bottom; padding-top: 5pt; width: 73%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    warrants will become exercisable on the later of:</FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 5pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-indent: 0.125in; vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;&nbsp;&nbsp;&nbsp;30&nbsp;days
    after the completion of our initial business combination, or</FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 5pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-indent: 0.125in; vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;&nbsp;&nbsp;&nbsp;12
    months from the closing of this offering;</FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 5pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">provided
    in each case that we have an effective registration statement under the Securities Act covering the shares of Class&nbsp;A
    common stock issuable upon exercise of the warrants and a current prospectus relating to them is available and such shares
    are registered, qualified or exempt from registration under the securities or blue sky laws of the state of residence of the
    holder (or we permit holders to exercise their warrants on a cashless basis under the circumstances specified in the warrant
    agreement). </FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 5pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
    are not registering the shares of Class&nbsp;A common stock issuable upon exercise of the warrants at this time. However,
    we have agreed that as soon as practicable, but in no event later than 15 business days after the closing of our initial business
    combination, we will use our best efforts to file with the SEC a registration statement covering the shares of Class&nbsp;A
    common stock issuable upon exercise of the warrants, to cause such registration statement to become effective and to maintain
    a current prospectus relating to those shares of Class&nbsp;A common stock until the warrants expire or are redeemed, as specified
    in the warrant agreement. If a registration statement covering the shares of Class&nbsp;A common stock issuable upon exercise
    of the warrants is not effective by the 60<SUP>th</SUP> business day after the closing of our initial business combination,
    warrantholders may, until such time as there is an effective registration statement and during any period when we will have
    failed to maintain an effective registration statement, exercise warrants on a &ldquo;cashless basis&rdquo; in accordance
    with Section&nbsp;3(a)(9) of the Securities Act or another exemption. Notwithstanding the above, if our shares of Class A
    common stock are at the time of any exercise of a warrant not listed on a national securities exchange such that they satisfy
    the definition of a &ldquo;covered security&rdquo; under Section 18(b)(1) of the Securities Act, we may, at our option, require
    holders of public warrants who exercise their warrants to do so on a &ldquo;cashless basis&rdquo; in accordance with Section
    3(a)(9) of the Securities Act and, in the event we so elect, we will not be required to file or maintain in effect a registration
    statement, and in the event we do not so elect, we will use our best efforts to register or qualify the shares under applicable
    blue sky laws to the extent an exemption is not available. If that exemption, or another exemption, is not available, holders
    will not be able to exercise their warrants on a cashless basis.</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; vertical-align: top; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; vertical-align: top; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 2pt; vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    warrants will expire at 5:00 p.m., New&nbsp;York City time, five years after the completion of our initial business combination
    or earlier upon redemption or liquidation. On the exercise of any warrant, the warrant exercise price will be paid directly
    to us and not placed in the trust account.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Redemption
    of warrants</B></FONT></TD>
    <TD STYLE="padding-top: 5pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Once
    the warrants become exercisable, we may redeem the outstanding warrants (except as described herein with respect to the private
    placement warrants):</FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 5pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; vertical-align: bottom"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.125in">&bull;&nbsp;&nbsp;&nbsp;in
                                         whole and not in part;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-indent: -12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.125in">&bull;&nbsp;&nbsp;&nbsp;at
        a price of $0.01 per warrant;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-indent: -12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.125in">&bull;&nbsp;&nbsp;upon
        not less than 30&nbsp;days&rsquo; prior written notice of redemption (the &ldquo;30-day redemption period&rdquo;) to each
        warrantholder; and</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-indent: -12pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.125in">&bull;&nbsp;&nbsp;if,
        and only if, the reported last sale price of the Class&nbsp;A common stock equals or exceeds $18.00 per share (as adjusted
        for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading
        day period ending three business days before we send the notice of redemption to the warrantholders.</P></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; vertical-align: top; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; vertical-align: top; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 2pt; vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
    will not redeem the warrants unless a registration statement under the Securities Act covering the shares of Class&nbsp;A
    common stock issuable upon exercise of the warrants is effective and a current prospectus relating to those shares of Class&nbsp;A
    common stock is available throughout the 30-day redemption period, except if the warrants may be exercised on a cashless basis
    and such cashless exercise is exempt from registration under the Securities Act. If and when the warrants become redeemable
    by us, we may not exercise our redemption right if the issuance of shares of common stock upon exercise of the warrants is
    not exempt from registration or qualification under applicable state blue sky laws or we are unable to effect such registration
    or qualification. We will use our best efforts to register or qualify such shares of common stock under the blue sky laws
    of the state of residence in those states in which the warrants were offered by us in this offering.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

</DIV>

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

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

<!-- Field: Page; Sequence: 13 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<DIV STYLE="padding: 10pt; border: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="border-bottom: Black 0.75pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; vertical-align: top; padding-bottom: 2pt; width: 25%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; white-space: nowrap; vertical-align: top; padding-bottom: 2pt; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; vertical-align: bottom; padding-bottom: 2pt; width: 73%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If
                                         we call the warrants for redemption as described above, our management will have the
                                         option to require all holders that wish to exercise warrants to do so on a &ldquo;cashless
                                         basis.&rdquo; In determining whether to require all holders to exercise their warrants
                                         on a &ldquo;cashless basis,&rdquo; our management will consider, among other factors,
                                         our cash position, the number of warrants that are outstanding and the dilutive effect
                                         on our stockholders of issuing the maximum number of shares of Class&nbsp;A common stock
                                         issuable upon the exercise of our warrants. In such event, each holder would pay the
                                         exercise price by surrendering the warrants for that number of shares of Class&nbsp;A
                                         common stock equal to the quotient obtained by dividing (x)&nbsp;the product of the number
                                         of shares of Class&nbsp;A common stock underlying the warrants, multiplied by the difference
                                         between the exercise price of the warrants and the &ldquo;fair market value&rdquo; (defined
                                         below) by (y)&nbsp;the fair market value. The &ldquo;fair market value&rdquo; shall mean
                                         the average reported last sale price of the Class&nbsp;A common stock for the 10 trading
                                         days ending on the third trading day prior to the date on which the notice of redemption
                                         is sent to the holders of warrants. Please see the section of this prospectus entitled
                                         &ldquo;Description of Securities&nbsp;&mdash; Redeemable Warrants&nbsp;&mdash; Public
                                         Stockholders&rsquo; Warrants&rdquo; for additional information.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">None of the private placement warrants will be redeemable
        by us so long as they are held by the sponsor or its permitted transferees.</P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Founder
    shares</B></FONT></TD>
    <TD STYLE="padding-top: 5pt; white-space: nowrap; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
    July 2020, our sponsor purchased 3,593,750 founder shares for an aggregate purchase price of $25,000, or approximately $0.007
    per share. Prior to the initial investment in the company of $25,000 by our sponsor, the company had no assets, tangible or
    intangible. The per share purchase price of the founder shares was determined by dividing the amount of cash contributed to
    the company by the aggregate number of founder shares issued. The number of founder shares issued was determined based on
    the expectation that the founder shares would represent 20% of the outstanding shares after this offering. As such, our initial
    stockholders will collectively own 20% of our issued and outstanding shares after this offering (assuming they do not purchase
    any units in this offering). Neither our sponsor nor any of our officers or directors have expressed an intention to purchase
    any units in this offering. Up to 468,750 founder shares will be subject to forfeiture by our sponsor depending on the extent
    to which the underwriters&rsquo; over-allotment option is exercised so that our initial stockholders will maintain ownership
    of 20% of our common stock after this offering. We will effect a stock dividend or share contribution prior to this offering
    should the size of the offering change, in order to maintain such ownership percentage.</FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 5pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; white-space: nowrap; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    founder shares are identical to the shares of Class&nbsp;A common stock included in the units being sold in this offering,
    except that:</FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 5pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; white-space: nowrap; vertical-align: top">&nbsp;</TD>
    <TD STYLE="padding-left: 0.25in; text-indent: -0.125in; vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;&nbsp;&nbsp;the
    founder shares are shares of Class&nbsp;B common stock that automatically convert into shares of our Class&nbsp;A common stock
    at the time of our initial business combination on a one-for-one basis, subject to adjustment pursuant to certain anti-dilution
    rights, as described herein;</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; vertical-align: top; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; white-space: nowrap; vertical-align: top; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 0.25in; text-indent: -0.125in; padding-bottom: 2pt; vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;&nbsp;&nbsp;&nbsp;the
    founder shares are subject to certain transfer restrictions, as described in more detail below;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

</DIV>

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

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

<!-- Field: Page; Sequence: 14 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<DIV STYLE="padding: 10pt; border: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="border-bottom: Black 0.75pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; padding-top: 5pt; vertical-align: top; width: 25%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; vertical-align: top; width: 2%; padding-top: 5pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.25in; text-indent: -0.125in; vertical-align: bottom; padding-top: 5pt; width: 73%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;&nbsp;&nbsp;our
    sponsor, officers and directors have entered into a letter agreement with us, pursuant to which they have agreed to (i)&nbsp;waive
    their redemption rights with respect to their founder shares and public shares in connection with the completion of our initial
    business combination, (ii)&nbsp;waive their redemption rights with respect to their founder shares and public shares in connection
    with a stockholder vote to approve an amendment to our amended and restated certificate of incorporation (A)&nbsp;to modify
    the substance or timing of our obligation to offer redemption rights in connection with any proposed initial business combination
    or to redeem 100% of our public shares if we do not complete our initial business combination within 24 months from the closing
    of this offering or (B)&nbsp;with respect to any other provision relating to stockholders&rsquo; rights or pre-initial business
    combination activity, (iii)&nbsp;waive their rights to liquidating distributions from the trust account with respect to their
    founder shares if we fail to complete our initial business combination within 24 months from the closing of this offering,
    although they will be entitled to liquidating distributions from the trust account with respect to any public shares they
    hold if we fail to complete our initial business combination within the prescribed time frame and (iv)&nbsp;not sell any of
    their founder shares or public shares to us in any tender offer we undertake in connection with a proposed initial business
    combination;</FONT></TD></TR>
<TR>
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; padding-top: 5pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; white-space: nowrap; vertical-align: top">&nbsp;</TD>
    <TD STYLE="padding-left: 0.25in; text-indent: -0.125in; vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;&nbsp;&nbsp;pursuant
    to the letter agreement, our sponsor, officers and directors have agreed to vote any founder shares held by them and any public
    shares purchased during or after this offering (including in open market and privately negotiated transactions) in favor of
    our initial business combination. If we submit our initial business combination to our public stockholders for a vote, we
    will complete our initial business combination only if a majority of the outstanding shares of common stock voted are voted
    in favor of the initial business combination. As a result, in addition to our initial stockholders&rsquo; founder shares,
    we would need only 4,687,501, or 37.5%, of the 12,500,000 public shares sold in this offering to be voted in favor of an initial
    business combination (assuming all outstanding shares are voted and our sponsor, officers and directors do not purchase any
    units in or after this offering) in order to have our initial business combination approved (assuming the over-allotment option
    is not exercised); and</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: -0.125in; padding-left: 0.125in; padding-top: 5pt; vertical-align: top; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; white-space: nowrap; vertical-align: top; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 0.25in; text-indent: -0.125in; padding-bottom: 2pt; vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;&nbsp;&nbsp;&nbsp;the
    founder shares are entitled to registration rights.</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 2pt; vertical-align: top; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Transfer
    restrictions on founder shares</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; white-space: nowrap; vertical-align: top; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 2pt; vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
    initial stockholders have agreed not to transfer, assign or sell any of their founder shares until the earlier to occur of:
    (A)&nbsp;one year after the completion of our initial business combination or (B)&nbsp;subsequent to our initial business
    combination, (x)&nbsp;if the last sale price of our Class&nbsp;A common stock equals or exceeds $12.00 per share (as adjusted
    for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading
    day period commencing at least 150&nbsp;days after our initial business combination, or (y)&nbsp;the date on which we complete
    a liquidation, merger, capital stock exchange or other similar transaction that results in all of our stockholders having
    the right to exchange their shares of common stock for cash, securities or other property (except as described herein under
    the section of this prospectus entitled &ldquo;Principal Stockholders&nbsp;&mdash; Restrictions on Transfers of Founder Shares
    and Private Placement Warrants&rdquo;). Any permitted transferees will be subject to the same restrictions and other agreements
    of our initial stockholders with respect to any founder shares. We refer to such transfer restrictions throughout this prospectus
    as the lock-up.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

</DIV>

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

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

<!-- Field: Page; Sequence: 15 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<DIV STYLE="padding: 10pt; border: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="border-bottom: Black 0.75pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 2pt; vertical-align: top; width: 25%; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Founder
    shares conversion and anti-dilution rights</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; white-space: nowrap; vertical-align: top; width: 2%; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 2pt; vertical-align: bottom; width: 73%; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    shares of Class&nbsp;B common stock will automatically convert into shares of our Class&nbsp;A common stock at the time of
    our initial business combination on a one-for-one basis, subject to adjustment for stock splits, stock dividends, reorganizations,
    recapitalizations and the like, and subject to further adjustment as provided herein. In the case that additional shares of
    Class&nbsp;A common stock, or equity-linked securities, are issued or deemed issued in excess of the amounts offered in this
    prospectus and related to the closing of the initial business combination, the ratio at which shares of Class&nbsp;B common
    stock shall convert into shares of Class&nbsp;A common stock will be adjusted (unless the holders of a majority of the outstanding
    shares of Class&nbsp;B common stock agree to waive such adjustment with respect to any such issuance or deemed issuance) so
    that the number of shares of Class&nbsp;A common stock issuable upon conversion of all shares of Class&nbsp;B common stock
    will equal, in the aggregate, on an as-converted basis, 20% of the sum of the total number of all shares of common stock outstanding
    upon the completion of this offering plus all shares of Class&nbsp;A common stock and equity-linked securities issued or deemed
    issued in connection with the initial business combination (excluding any shares or equity-linked securities issued, or to
    be issued, to any seller in the initial business combination and any private placement-equivalent warrants issued to our sponsor
    or its affiliates upon conversion of loans made to us). Holders of founder shares may also elect to convert their shares of
    Class&nbsp;B common stock into an equal number of shares of Class&nbsp;A common stock, subject to adjustment as provided above,
    at any time. The term &ldquo;equity-linked securities&rdquo; refers to any debt or equity securities that are convertible,
    exercisable or exchangeable for shares of Class&nbsp;A common stock issued in a financing transaction in connection with our
    initial business combination, including but not limited to a private placement of equity or debt. Securities could be &ldquo;deemed
    issued&rdquo; for purposes of the conversion rate adjustment if such shares are issuable upon the conversion or exercise of
    convertible securities, warrants or similar securities.</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 2pt; vertical-align: top; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Voting
    Rights</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; white-space: nowrap; vertical-align: top; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 2pt; vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Holders
    of the Class&nbsp;A common stock and holders of the Class&nbsp;B common stock will vote together as a single class on all
    matters submitted to a vote of our stockholders, with each share of common stock entitling the holder to one vote.</FONT></TD></TR>
<TR>
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Private
    placement warrants</B></FONT></TD>
    <TD STYLE="padding-top: 5pt; white-space: nowrap; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
    sponsor has committed, pursuant to a written agreement, to purchase an aggregate of 4,250,000 private placement warrants (or
    4,625,000 private placement warrants if the over-allotment option is exercised in full) at a price of $1.00 per warrant ($4,250,000
    in the aggregate, or $4,625,000 if the over-allotment option is exercised in full), each exercisable to purchase one share
    of our Class&nbsp;A common stock at $11.50 per share, in a private placement that will occur simultaneously with the closing
    of this offering. Each private placement warrant entitles the holder thereof to purchase one share of our Class&nbsp;A common
    stock at a price of $11.50 per share. A portion of the purchase price of the private placement warrants will be added to the
    proceeds from this offering to be held in the trust account such that at the time of closing $125.0 million (or $143.75 million
    if the underwriters exercise their over-allotment option in full) will be held in the trust account. If we do not complete
    our initial business combination within 24 months from the closing of this offering, the proceeds from the sale of the private
    placement warrants held in the trust account will be used to fund the redemption of our public shares (subject to the requirements
    of applicable law) and the private placement warrants will expire worthless.</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: -0.125in; padding-left: 0.125in; padding-top: 5pt; vertical-align: top; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; white-space: nowrap; vertical-align: top; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 2pt; vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    private placement warrants will be non-redeemable and exercisable on a cashless basis so long as they are held by the sponsor
    or its permitted transferees. If the private placement warrants are held by holders other than the sponsor or its permitted
    transferees, the private placement warrants will be redeemable by us and exercisable by the holders on the same basis as the
    warrants included in the units being sold in this offering.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

</DIV>

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

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

<!-- Field: Page; Sequence: 16 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<!-- Field: Split-Segment; Name: 2 -->


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

<DIV STYLE="border: Black 1pt solid; padding: 10pt"><P STYLE="border-bottom: Black 0.75pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: -0.25in; padding-left: 0.25in; padding-bottom: 1pt; vertical-align: top; width: 25%; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Transfer
    restrictions on private placement warrants</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; white-space: nowrap; vertical-align: top; width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; vertical-align: bottom; width: 73%; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    private placement warrants (including the Class&nbsp;A common stock issuable upon exercise of the private placement warrants)
    will not be transferable, assignable or salable until 30&nbsp;days after the completion of our initial business combination
    (except as described under the section of this prospectus entitled &ldquo;Principal Stockholders&nbsp;&mdash; Restrictions
    on Transfers of Founder Shares and Private Placement Warrants&rdquo;).</FONT></TD></TR>
<TR>
    <TD STYLE="text-indent: -0.25in; padding-left: 0.25in; padding-bottom: 1pt; vertical-align: top; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Cashless
    exercise of private placement warrants</B></FONT></TD>
    <TD STYLE="padding-top: 5pt; white-space: nowrap; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
    holders of private placement warrants elect to exercise them on a cashless basis, they would pay the exercise price by surrendering
    their warrants for that number of shares of Class&nbsp;A common stock equal to the quotient obtained by dividing (x)&nbsp;the
    product of the number of shares of Class&nbsp;A common stock underlying the warrants, multiplied by the difference between
    the exercise price of the warrants and the &ldquo;fair market value&rdquo; (defined below) by (y)&nbsp;the fair market value.
    The &ldquo;fair market value&rdquo; shall mean the average reported last sale price of the Class&nbsp;A common stock for the
    10 trading days ending on the third trading day prior to the date on which the notice of warrant exercise is sent to the warrant
    agent. The reason that we have agreed that these warrants will be exercisable on a cashless basis so long as they are held
    by the sponsor or its permitted transferees is because it is not known at this time whether they will be affiliated with us
    following an initial business combination. If they remain affiliated with us, their ability to sell our securities in the
    open market will be significantly limited. </FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: -0.25in; padding-left: 0.25in; padding-top: 5pt; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; white-space: nowrap; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
    expect to have policies in place that prohibit insiders from selling our securities except during specific periods of time.
    Even during such periods of time when insiders will be permitted to sell our securities, an insider cannot trade in our securities
    if he or she is in possession of material non-public information. Accordingly, unlike public stockholders who could sell the
    shares of Class&nbsp;A common stock issuable upon exercise of the warrants freely in the open market, the insiders could be
    significantly restricted from doing so. As a result, we believe that allowing the holders to exercise such warrants on a cashless
    basis is appropriate.</FONT></TD></TR>
<TR>
    <TD STYLE="text-indent: -0.25in; padding-left: 0.25in; padding-bottom: 1pt; vertical-align: top; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Proceeds
    to be held in trust account</B></FONT></TD>
    <TD STYLE="padding-top: 5pt; white-space: nowrap; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; vertical-align: bottom; padding-top: 5pt">Nasdaq rules provide that at least 90% of the gross
    proceeds from this offering and the sale of the private placement warrants be deposited in a trust account. Of the net proceeds
    of this offering and the sale of the private placement warrants, $125,000,000, or $10.00 per unit ($143,750,000, or $10.00
    per unit, if the underwriters&rsquo; over-allotment option is exercised in full) will be placed into a trust account in the
    United&nbsp;States at J.P. Morgan Chase Bank, N.A., with Continental Stock Transfer&nbsp;&amp; Trust Company acting as trustee.
    These proceeds include $4,375,000 (or $5,031,250 if the over-allotment option is exercised in full) in deferred underwriting
    commissions.&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: -0.25in; padding-left: 0.25in; padding-top: 5pt; vertical-align: top; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; white-space: nowrap; vertical-align: top; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 2pt; vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Except
    with respect to interest earned on the funds held in the trust account that may be released to us to pay our tax obligations
    (less up to $100,000 of interest to pay dissolution expenses), the proceeds from this offering and the sale of the private
    placement warrants will not be released from the trust account until the earliest of (a)&nbsp;the completion of our initial
    business combination, (b)&nbsp;the redemption of any public shares properly submitted in connection with a stockholder vote
    to amend our amended and restated certificate of incorporation (i)&nbsp;to modify the substance or timing of our obligation
    to redeem 100% of our public shares if we do not complete our initial business combination within 24 months from the closing
    of this offering or (ii)&nbsp;with respect to any other provision relating to stockholders&rsquo; rights or pre-business combination
    activity, and (c)&nbsp;the redemption of our public shares if we are unable to complete our initial business combination within
    24 months from the closing of this offering, subject to applicable law. The proceeds deposited in the trust account could
    become subject to the claims of our creditors, if any, which could have priority over the claims of our public stockholders.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

</DIV>

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



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

<!-- Field: Page; Sequence: 17 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<DIV STYLE="padding: 10pt; border: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="border-top: Black 1pt solid; text-indent: -0.125in; padding-left: 0.125in; padding-top: 5pt; vertical-align: top; width: 25%; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Anticipated
    expenses and funding sources</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; padding-top: 5pt; white-space: nowrap; vertical-align: top; width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-top: 5pt; vertical-align: bottom; width: 73%; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Except
    as described above with respect to the payment of taxes, unless and until we complete our initial business combination, no
    proceeds held in the trust account will be available for our use. The proceeds held in the trust account will be invested
    only in U.S. government securities with a maturity of 185&nbsp;days or less or in money market funds meeting certain conditions
    under Rule&nbsp;2a-7 under the Investment Company Act which invest only in direct U.S. government treasury obligations. We
    will disclose in each quarterly and annual report filed with the SEC prior to our initial business combination whether the
    proceeds deposited in the trust account are invested in U.S. government treasury obligations or money market funds or a combination
    thereof. Based upon current interest rates, we expect the trust account to generate approximately $625,000 of interest annually
    assuming an interest rate of 0.5% per year; however, we can provide no assurances regarding this amount. Unless and until
    we complete our initial business combination, we may pay our expenses only from: </FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: -0.125in; padding-left: 0.125in; padding-top: 5pt; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; white-space: nowrap; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 0.25in; text-indent: -0.125in; padding-bottom: 1pt; vertical-align: bottom; padding-top: 5pt"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;&nbsp;&nbsp;the
                                         net proceeds of this offering and the sale of the private placement warrants not held
                                         in the trust account, which will be approximately $1,000,000 in working capital after
                                         the payment of approximately $750,000 in expenses relating to this offering; and</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Symbol; font-size: 7pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;any
                                         loans or additional investments from our sponsor, members of our management team or their
                                         affiliates or other third parties, although they are under no obligation to advance funds
                                         or invest in us, and provided that any such loans will not have any claim on the proceeds
                                         held in the trust account unless such proceeds are released to us upon completion of
                                         an initial business combination.</FONT></P></TD></TR>
<TR>
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1pt; vertical-align: top; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Conditions
    to completing our initial business combination</B></FONT></TD>
    <TD STYLE="padding-top: 5pt; white-space: nowrap; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nasdaq
    rules require that we must complete one or more business combinations having an aggregate fair market value of at least 80%
    of the value of the assets held in the trust account (excluding the deferred underwriting commissions and taxes payable on
    the interest earned on the trust account) at the time of our signing a definitive agreement in connection with our initial
    business combination. Our board of directors will make the determination as to the fair market value of our initial business
    combination. If our board of directors is not able to independently determine the fair market value of our initial business
    combination, we will obtain an opinion from an independent investment banking firm or another independent entity that commonly
    renders valuation opinions with respect to the satisfaction of such criteria. While we consider it unlikely that our board
    of directors will not be able to make an independent determination of the fair market value of our initial business combination,
    it may be unable to do so if it is less familiar or experienced with the business of a particular target or if there is a
    significant amount of uncertainty as to the value of a target&rsquo;s assets or prospects. There is no limitation on our ability
    to raise funds privately or through loans in connection with our initial business combination. Additionally, pursuant to Nasdaq
    rules, any initial business combination must be approved by a majority of our independent directors.</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: -0.125in; padding-left: 0.125in; padding-top: 5pt; vertical-align: top; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; white-space: nowrap; vertical-align: top; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 2pt; vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
    anticipate structuring our initial business combination either (i)&nbsp;in such a way 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, or (ii)&nbsp;in such a way so that the post-transaction company owns or acquires less than 100% of such interests
    or assets of the target business in order to meet certain objectives of the target management team or stockholders, or for
    other reasons. However, we will only complete an initial business combination if the post-transaction company owns or acquires
    50% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target
    sufficient for it not to be required to register as an investment company under the Investment Company Act.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

</DIV>

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

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

<!-- Field: Page; Sequence: 18 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<DIV STYLE="padding: 10pt; border: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-top: Black 1pt solid; padding-top: 5pt; vertical-align: top; width: 25%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-top: Black 1pt solid; white-space: nowrap; vertical-align: top; width: 2%; padding-top: 5pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-top: Black 1pt solid; padding-top: 5pt; vertical-align: bottom; width: 73%; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Even
    if the post-transaction company owns or acquires 50% or more of the voting securities of the target, our stockholders prior
    to the initial business combination may collectively own a minority interest in the post-transaction company, depending on
    valuations ascribed to the target and us in the initial business combination. 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 taken into account for purposes of Nasdaq&rsquo;s 80% fair market value test. If
    the initial business combination involves more than one target business, the 80% fair market value test will be based on the
    aggregate value of all of the transactions and we will treat the target businesses together as the initial business combination
    for purposes of a tender offer or for seeking stockholder approval, as applicable.</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1pt; vertical-align: top; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Permitted
    purchases of public shares and public warrants by our affiliates</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; white-space: nowrap; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
    we seek stockholder approval of our initial business combination and we do not conduct redemptions in connection with our
    initial business combination pursuant to the tender offer rules, our sponsor, initial stockholders, directors, officers, advisors
    or their affiliates may purchase shares or public warrants in privately negotiated transactions or in the open market either
    prior to or following the completion of our initial business combination. There is no limit on the number of shares our initial
    stockholders, directors, officers, advisors or their affiliates may purchase in such transactions, subject to compliance with
    applicable law and Nasdaq rules. 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. If they engage in such transactions, they will
    not make any such purchases when they are in possession of any material nonpublic information not disclosed to the seller
    or if such purchases are prohibited by Regulation M under the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange
    Act&rdquo;). 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. Any such purchases will be reported pursuant to Section&nbsp;13 and Section&nbsp;16 of the Exchange
    Act to the extent such purchasers are subject to such reporting requirements. None of the funds held in the trust account
    will be used to purchase shares or public warrants in such transactions prior to completion of our initial business combination.
    See &ldquo;Proposed Business&nbsp;&mdash; Permitted purchases of our securities&rdquo; for a description of how our sponsor,
    initial stockholders, directors, officers, advisors or any of their affiliates will select which stockholders to purchase
    securities from in any private transaction.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

</DIV>

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

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

<!-- Field: Page; Sequence: 19 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<DIV STYLE="padding: 10pt; border: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-top: Black 1pt solid; text-indent: -0.125in; padding-left: 0.125in; padding-top: 5pt; vertical-align: top; width: 25%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-top: Black 1pt solid; white-space: nowrap; vertical-align: top; width: 2%; padding-top: 5pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-top: Black 1pt solid; padding-top: 5pt; vertical-align: bottom; width: 73%; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    purpose of any such purchases of shares could be to vote such shares in favor of the initial business combination and thereby
    increase the likelihood of obtaining stockholder approval of the initial business combination or to satisfy a closing condition
    in an agreement with a target that requires us to have a minimum net worth or a certain amount of cash at the closing of our
    initial business combination, where it appears that such requirement would otherwise not be met. The purpose of any such purchases
    of public warrants could be to reduce the number of public warrants outstanding or to vote such warrants on any matters submitted
    to the warrantholders for approval in connection with our initial business combination. Any such purchases of our securities
    may result in the completion of our initial business combination that may not otherwise have been possible. In addition, if
    such purchases are made, the public &ldquo;float&rdquo; of our shares of Class&nbsp;A common stock or warrants may be reduced
    and the number of beneficial holders of our securities may be reduced, which may make it difficult to maintain or obtain the
    quotation, listing or trading of our securities on a national securities exchange.</FONT></TD></TR>
<TR>
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1pt; vertical-align: top; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Redemption
    rights for public stockholders upon completion of our initial business combination</B></FONT></TD>
    <TD STYLE="padding-top: 5pt; white-space: nowrap; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
    will provide our public stockholders with the opportunity to redeem all or a portion of their public shares upon the completion
    of our initial business combination at a per-share price, payable in cash, equal to the aggregate amount then on deposit in
    the trust account as of two business days prior to the consummation of our initial business combination, including interest
    earned on the funds held in the trust account and not previously released to us to pay our taxes, divided by the number of
    then outstanding public shares, subject to the limitations described herein. The amount in the trust account is initially
    anticipated to be $10.00 per public share. The per-share amount we will distribute to investors who properly redeem their
    shares will not be reduced by the deferred underwriting commissions we will pay to the underwriters. The redemption rights
    will include the requirement that a beneficial holder must identify itself in order to validly redeem its shares. There will
    be no redemption rights upon the completion of our initial business combination with respect to our warrants. Our sponsor,
    officers and directors have entered into a letter agreement with us, pursuant to which they have agreed to waive their redemption
    rights with respect to any founder shares held by them and any public shares they may acquire during or after this offering
    in connection with the completion of our initial business combination or otherwise.</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: -0.125in; padding-left: 0.125in; padding-top: 5pt; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; white-space: nowrap; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
    may require our public stockholders seeking to exercise their redemption rights, whether they are record holders or hold their
    shares in &ldquo;street name,&rdquo; to either tender their certificates to our transfer agent prior to a date set forth in
    the proxy materials mailed to such holders or to deliver their shares to the transfer agent electronically using the Depository
    Trust Company&rsquo;s DWAC (Deposit/Withdrawal At Custodian) System, at the holder&rsquo;s option. The tender offer or proxy
    materials, as applicable, that we will furnish to holders of our public shares in connection with our initial business combination
    will indicate whether we are requiring public stockholders to satisfy such delivery requirements.</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 2pt; vertical-align: top; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Manner
    of conducting redemptions</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; white-space: nowrap; vertical-align: top; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 2pt; vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
    will provide our public stockholders with the opportunity to redeem all or a portion of their public shares upon the completion
    of our initial business combination either (i)&nbsp;in connection with a stockholder meeting called to approve the initial
    business combination or (ii)&nbsp;by means of a tender offer. </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

</DIV>

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

<!-- Field: Page; Sequence: 20 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<DIV STYLE="padding: 10pt; border: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="border-top: Black 1pt solid; padding-top: 5pt; vertical-align: top; width: 25%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; vertical-align: top; width: 2%; padding-top: 5pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-top: 5pt; vertical-align: bottom; width: 73%; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    decision as to whether we will seek stockholder approval of a proposed initial business combination or conduct a tender offer
    will be made by us, solely in our discretion, and will be based on a variety of factors such as the timing of the transaction
    and whether the terms of the transaction would require us to seek stockholder approval under the law or stock exchange listing
    requirements. Under Nasdaq rules, asset acquisitions and stock purchases would not typically require stockholder approval
    while direct mergers with our company where we do not survive and any transactions where we issue more than 20% of our outstanding
    common stock or seek to amend our amended and restated certificate of incorporation would require stockholder approval. We
    may conduct redemptions without a stockholder vote pursuant to the tender offer rules of the SEC unless stockholder approval
    is required by law or stock exchange listing requirements or we choose to seek stockholder approval for business or other
    legal reasons. So long as we obtain and maintain a listing for our securities on Nasdaq, we will be required to comply with
    such rules.</FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 5pt; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; white-space: nowrap; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
    a stockholder vote is not required and we do not decide to hold a stockholder vote for business or other legal reasons, we
    will, pursuant to our amended and restated certificate of incorporation:</FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 5pt; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; white-space: nowrap; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.25in; text-indent: -0.125in; padding-bottom: 1pt; vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;&nbsp;&nbsp;conduct
    the redemptions pursuant to Rule&nbsp;13e-4 and Regulation 14E of the Exchange Act, which regulate issuer tender offers, and</FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 5pt; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; white-space: nowrap; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.25in; text-indent: -0.125in; padding-bottom: 1pt; vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;&nbsp;&nbsp;file
    tender offer documents with the SEC prior to completing our initial business combination which contain substantially the same
    financial and other information about the initial business combination and the redemption rights as is required under Regulation
    14A of the Exchange Act, which regulates the solicitation of proxies. </FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 5pt; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; white-space: nowrap; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Such
    provisions may be amended if approved by holders of 65% of our common stock entitled to vote thereon.</FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 5pt; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; white-space: nowrap; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Whether
    or not we maintain our registration under the Exchange Act or our listing on Nasdaq, we will provide our public stockholders
    with the opportunity to redeem their public shares by one of the two methods listed above. Upon the public announcement of
    our initial business combination, if we elect to conduct redemptions pursuant to the tender offer rules, we or our sponsor
    will terminate any plan established in accordance with Rule&nbsp;10b5-1 to purchase shares of our Class&nbsp;A common stock
    in the open market, in order to comply with Rule&nbsp;14e-5 under the Exchange Act. </FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 5pt; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; white-space: nowrap; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
    the event we conduct redemptions pursuant to the tender offer rules, our offer to redeem will remain open for at least 20
    business days, in accordance with Rule&nbsp;14e-1(a) 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, we will not redeem any public shares
    unless our net tangible assets will be at least $5,000,001 either immediately prior to or upon consummation of our initial
    business combination and after payment of underwriters&rsquo; fees and commissions (so that we are not subject to the SEC&rsquo;s
    &ldquo;penny stock&rdquo; rules) or any greater net tangible asset or cash requirement which may be contained in the agreement
    relating to our initial business combination. If public stockholders tender more shares than we have offered to purchase,
    we will withdraw the tender offer and not complete the initial business combination.</FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 5pt; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; white-space: nowrap; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If,
    however, stockholder approval of the transaction is required by law or stock exchange listing requirements, or we decide to
    obtain stockholder approval for business or other legal reasons, we will:</FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 5pt; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; white-space: nowrap; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.25in; text-indent: -0.125in; padding-bottom: 1pt; vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;&nbsp;&nbsp;conduct
    the redemptions in conjunction with a proxy solicitation pursuant to Regulation 14A of the Exchange Act, which regulates the
    solicitation of proxies, and not pursuant to the tender offer rules, and</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; vertical-align: top; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; white-space: nowrap; vertical-align: top; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.25in; text-indent: -0.125in; border-bottom: Black 1pt solid; padding-bottom: 2pt; vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;&nbsp;&nbsp;file
    proxy materials with the SEC.</FONT></TD></TR>
</TABLE>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0; font-size: 10pt"></P>

</DIV>

<P STYLE="margin: 0; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 21 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<DIV STYLE="padding: 10pt; border: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0; margin-bottom: 0"></P>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="border-top: Black 1pt solid; padding-top: 5pt; vertical-align: top; width: 25%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; vertical-align: top; width: 2%; padding-top: 5pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-top: 5pt; vertical-align: bottom; width: 73%; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
    we seek stockholder approval, we will complete our initial business combination only if a majority of the outstanding shares
    of common stock voted are voted in favor of the initial business combination. A quorum for such meeting will consist of the
    holders present in person or by proxy of shares of outstanding capital stock of the company representing a majority of the
    voting power of all outstanding shares of capital stock of the company entitled to vote at such meeting. Our initial stockholders
    will count towards this quorum and, pursuant to the letter agreement, our sponsor, officers and directors have agreed to vote
    their founder shares and any public shares purchased during or after this offering (including in open market and privately
    negotiated transactions) in favor of our initial business combination. For purposes of seeking approval of the majority of
    our outstanding shares of common stock voted, non-votes will have no effect on the approval of our initial business combination
    once a quorum is obtained. As a result, in addition to our initial stockholders&rsquo; founder shares, we would need only
    4,687,501, or 37.5%, of the 12,500,000 public shares sold in this offering to be voted in favor of an initial business combination
    (assuming all outstanding shares are voted) in order to have our initial business combination approved ((assuming all outstanding
    shares are voted and our sponsor, officers and directors do not purchase any shares in or after this offering). We intend
    to give approximately 30&nbsp;days (but not less than 10&nbsp;days nor more than 60&nbsp;days) prior written notice of any
    such meeting, if required, at which a vote shall be taken to approve our initial business combination. These quorum and voting
    thresholds, and the voting agreements of our initial stockholders, may make it more likely that we will consummate our initial
    business combination. Each public stockholder may elect to redeem its public shares irrespective of whether they vote for
    or against the proposed transaction.</FONT></TD></TR>
<TR>
    <TD STYLE="padding-top: 5pt; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 5pt; white-space: nowrap; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
    may require our public stockholders seeking to exercise their redemption rights, whether they are record holders or hold their
    shares in &ldquo;street name,&rdquo; to either tender their certificates to our transfer agent prior to the date set forth
    in the tender offer documents mailed to such holders, or up to two business days prior to the vote on the proposal to approve
    the initial business combination in the event we distribute proxy materials, or to deliver their shares to the transfer agent
    electronically. We believe that this will allow our transfer agent to efficiently process any redemptions without the need
    for further communication or action from the redeeming public stockholders, which could delay redemptions and result in additional
    administrative cost. If the proposed initial business combination is not approved and we continue to search for a target company,
    we will promptly return any certificates delivered, or shares tendered electronically, by public stockholders who elected
    to redeem their shares.</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; vertical-align: top; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; white-space: nowrap; vertical-align: top; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 2pt; vertical-align: bottom; padding-top: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
    amended and restated certificate of incorporation will provide that in no event will we redeem our public shares unless our
    net tangible assets are at least $5,000,001 either immediately prior to or upon consummation of our initial business combination
    (so that we are not subject to the SEC&rsquo;s &ldquo;penny stock&rdquo; rules) or any greater net tangible asset or cash
    requirement which may be contained in the agreement relating to our initial business combination. For example, the proposed
    initial business combination may require: (i)&nbsp;cash consideration to be paid to the target or its owners, (ii)&nbsp;cash
    to be transferred to the target for working capital or other general corporate purposes or (iii)&nbsp;the retention of cash
    to satisfy other conditions in accordance with the terms of the proposed initial business combination. In the event the aggregate
    cash consideration we would be required to pay for all shares of Class A common stock that are validly submitted for redemption
    plus any amount required to satisfy cash conditions pursuant to the terms of the proposed initial business combination exceed
    the aggregate amount of cash available to us, we will not complete the initial business combination or redeem any shares,
    and all shares of Class&nbsp;A common stock submitted for redemption will be returned to the holders thereof. </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

</DIV>

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

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

<!-- Field: Page; Sequence: 22 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<DIV STYLE="padding: 10pt; border: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-top: Black 1pt solid; text-indent: -0.125in; padding-left: 0.125in; padding-top: 5pt; vertical-align: top; width: 30%; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Limitation
    on redemption rights of stockholders holding 20% or more of the shares sold in this offering if we hold stockholder vote</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-top: Black 1pt solid; padding-top: 5pt; white-space: nowrap; vertical-align: top; width: 1%; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-top: Black 1pt solid; padding-top: 5pt; vertical-align: bottom; width: 69%; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notwithstanding
    the foregoing redemption rights, if we seek stockholder approval of our initial business combination and we do not conduct
    redemptions in connection with our initial business combination pursuant to the tender offer rules, our amended and restated
    certificate of incorporation will provide that a public stockholder, together with any affiliate of such stockholder or any
    other person with whom such stockholder is acting in concert or as a &ldquo;group&rdquo; (as defined under Section&nbsp;13
    of the Exchange Act), will be restricted from redeeming its shares with respect to more than an aggregate of 20% of the shares
    sold in this offering, without our prior consent. We believe the restriction described above will discourage stockholders
    from accumulating large blocks of shares, and subsequent attempts by such holders to use their ability to redeem their shares
    as a means to force us or our management to purchase their shares at a significant premium to the then-current market price
    or on other undesirable terms. Absent this provision, a public stockholder holding more than an aggregate of 20% of the shares
    sold in this offering could threaten to exercise its redemption rights against an initial business combination if such holder&rsquo;s
    shares are not purchased by us or our management at a premium to the then-current market price or on other undesirable terms.
    By limiting our stockholders&rsquo; ability to redeem to no more than 20% of the shares sold in this offering, we believe
    we will limit the ability of a small group of stockholders to unreasonably attempt to block our ability to complete our initial
    business combination, particularly in connection with an initial business combination with a target that requires as a closing
    condition that we have a minimum net worth or a certain amount of cash. However, we would not be restricting our stockholders&rsquo;
    ability to vote all of their shares (including all shares held by those stockholders that hold more than 20% of the shares
    sold in this offering) for or against our initial business combination.</FONT></TD></TR>

<TR>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: -0.125in; padding-left: 0.125in; padding-top: 5pt; vertical-align: top; padding-bottom: 2pt; width: 30%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Redemption
    rights in <BR>
    connection with proposed amendments to our certificate of incorporation</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; white-space: nowrap; vertical-align: top; padding-bottom: 2pt; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 5pt; vertical-align: bottom; padding-bottom: 2pt; width: 68%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
    amended and restated certificate of incorporation provides that any of its provisions related to pre-business combination
    activity (including the requirement to deposit proceeds of this offering and the private placement of warrants into the trust
    account and not release such amounts except in specified circumstances, and to provide redemption rights to public stockholders
    as described herein) may be amended if approved by holders of 65% of our common stock entitled to vote thereon, and corresponding
    provisions of the trust agreement governing the release of funds from our trust account may be amended if approved by holders
    of 65% of our common stock entitled to vote thereon. In all other instances, our amended and restated certificate of incorporation
    may be amended by holders of a majority of our outstanding common stock entitled to vote thereon, subject to applicable provisions
    of the Delaware General Corporation Law, or DGCL, or applicable stock exchange rules. Under our amended and restated certificate
    of incorporation, we may not issue additional securities that can vote on amendments to our amended and restated certificate
    of incorporation or on our initial business combination or that would entitle holders thereof to receive funds from the trust
    account. Our initial stockholders, who will collectively beneficially own 20% of our common stock upon the closing of this
    offering (assuming they do not purchase any units in this offering), will participate in any vote to amend our amended and
    restated certificate of incorporation and/or trust agreement and will have the discretion to vote in any manner they choose.
    Our sponsor, executive officers, and directors have agreed, pursuant to a written agreement with us, that they will not propose
    any amendment to our amended and restated certificate of incorporation (i)&nbsp;to modify the substance or timing of our obligation
    to offer redemption rights in connection with any initial business combination or to redeem 100% of our public shares if we
    do not complete our initial business combination within 24 months from the closing of this offering or (ii)&nbsp;with respect
    to any other provision relating to stockholders&rsquo; rights or pre-business combination activity, unless we provide our
    public stockholders with the opportunity to redeem their shares of Class&nbsp;A common stock upon approval of any such amendment
    at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest
    (which interest shall be net of taxes payable) divided by the number of then outstanding public shares. Our sponsor, officers
    and directors have entered into a letter agreement with us pursuant to which they have agreed to waive their redemption rights
    with respect to any founder shares and any public shares held by them in connection with the completion of our initial business
    combination.</FONT></TD></TR>
</TABLE>

<P STYLE="text-align: center; font-size: 10pt; margin-top: 0; margin-bottom: 0"></P>

</DIV>

<P STYLE="font-size: 10pt; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 23 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font-size: 10pt; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<DIV STYLE="padding: 10pt; border: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">

<TR>
    <TD STYLE="border-bottom: Black 1pt solid; border-top: Black 1pt solid; text-indent: -0.125in; padding-left: 0.125in; padding-top: 2pt; vertical-align: top; padding-bottom: 1pt; width: 30%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Release&nbsp;of&nbsp;funds&nbsp;in&nbsp;trust&nbsp;account
    on&nbsp;closing&nbsp;of&nbsp;our&nbsp;initial business combination</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-top: Black 1pt solid; padding-top: 2pt; white-space: nowrap; vertical-align: top; padding-bottom: 1pt; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-top: Black 1pt solid; padding-top: 2pt; vertical-align: bottom; padding-bottom: 1pt; width: 68%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
    the completion of our initial business combination, the funds held in the trust account will be used to pay amounts due to
    any public stockholders who exercise their redemption rights as described above under &ldquo;Redemption rights for public
    stockholders upon completion of our initial business combination.&rdquo; We will use the remaining funds to pay the underwriters
    their deferred underwriting commissions, to pay all or a portion of the consideration payable to the target or owners of the
    target of our initial business combination and to pay other expenses associated with our initial business combination. If
    our initial business combination is paid for using equity or debt securities, or not all of the funds released from the trust
    account are used for payment of the consideration in connection with our initial business combination, we may apply the balance
    of the cash released to us from the trust account for general corporate purposes, including for maintenance or expansion of
    operations of post-transaction businesses, the payment of principal or interest due on indebtedness incurred in completing
    our initial business combination, to fund the purchase of other companies or for working capital.</FONT></TD></TR>
<TR>
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: top; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Redemption
    of public shares and distribution and liquidation&nbsp;if&nbsp;no&nbsp;initial business&nbsp;combination</B></FONT></TD>
    <TD STYLE="padding-top: 2pt; border-bottom: Black 1pt solid; white-space: nowrap; vertical-align: top; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
    amended and restated certificate of incorporation provides that we will have only 24 months from the closing of this offering
    to complete our initial business combination. If we are unable to complete our initial business combination within such 24-month
    period, we will: (i)&nbsp;cease all operations except for the purpose of winding up, (ii)&nbsp;as promptly as reasonably possible
    but not more than ten business days thereafter, redeem the public shares, at a 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 taxes (less up to $100,000 of interest to pay dissolution expenses), divided
    by the number of then outstanding public shares, which redemption will completely extinguish public stockholders&rsquo; rights
    as stockholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and
    (iii)&nbsp;as promptly as reasonably possible following such redemption, subject to the approval of our remaining stockholders
    and our board of directors, dissolve and liquidate, subject in each case to our obligations under Delaware law to provide
    for claims of creditors and the requirements of other applicable law. There will be no redemption rights or liquidating distributions
    with respect to our warrants, which will expire worthless if we fail to complete our initial business combination within the
    24-month time period. </FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

</DIV>

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

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

<!-- Field: Page; Sequence: 24 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<DIV STYLE="padding: 10pt; border: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="border-top: Black 1pt solid; text-indent: -0.125in; padding-left: 0.125in; padding-top: 2pt; vertical-align: top; width: 30%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-top: 2pt; white-space: nowrap; vertical-align: top; width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-top: 2pt; vertical-align: bottom; width: 68%; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
    sponsor, officers and directors have entered into a letter agreement with us, pursuant to which they have waived their rights
    to liquidating distributions from the trust account with respect to any founder shares held by them if we fail to complete
    our initial business combination within 24 months from the closing of this offering. However, if our initial stockholders
    acquire public shares in or after this offering, they will be entitled to liquidating distributions from the trust account
    with respect to such public shares if we fail to complete our initial business combination within the allotted 24-month time
    period.</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: -0.125in; padding-left: 0.125in; padding-top: 2pt; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; white-space: nowrap; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    underwriters have agreed to waive their rights to their deferred underwriting commission held in the trust account in the
    event we do not complete our initial business combination and subsequently liquidate 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>

<TR>
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; padding-top: 2pt; vertical-align: top; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Limited
    payments to insiders</B></FONT></TD>
    <TD STYLE="padding-top: 2pt; white-space: nowrap; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
    will be no finder&rsquo;s fees, reimbursement, consulting fee, non-cash payments, monies in respect of any payment of a loan
    or other compensation paid by us to our sponsor, officers or directors, or any affiliate of our sponsor or officers prior
    to, or in connection with any services rendered in order to effectuate, the consummation of our initial business combination
    (regardless of the type of transaction that it is). However, the following payments will be made to our sponsor, officers
    or directors, or our or their affiliates, none of which will be made from the proceeds of this offering held in the trust
    account prior to the completion of our initial business combination:</FONT></TD></TR>
<TR>
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; padding-top: 2pt; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.125in; padding-top: 2pt; white-space: nowrap; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; padding-top: 2pt; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;&nbsp;&nbsp;Repayment
    of up to an aggregate of $300,000 in loans made to us by our sponsor to cover offering-related and organizational expenses;</FONT></TD></TR>
<TR>
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; padding-top: 2pt; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.125in; padding-top: 2pt; white-space: nowrap; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; padding-top: 2pt; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;&nbsp;&nbsp;Payment
    to our sponsor of $10,000 per month, for up to 24 months, for office space, utilities and secretarial and administrative support;</FONT></TD></TR>
<TR>
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; padding-top: 2pt; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.125in; padding-top: 2pt; white-space: nowrap; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; padding-top: 2pt; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;&nbsp;&nbsp;Reimbursement
    for any out-of-pocket expenses related to identifying, investigating and completing an initial business combination; and</FONT></TD></TR>
<TR>
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; padding-top: 2pt; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-left: 0.125in; padding-top: 2pt; white-space: nowrap; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; padding-top: 2pt; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;&nbsp;&nbsp;Repayment
    of non-interest bearing loans which may be made by our sponsor or an affiliate of our sponsor or certain of our officers and
    directors to finance transaction costs in connection with an intended initial business combination. Up to $1,500,000 of such
    loans may be convertible into warrants, at a price of $1.00 per warrant at the option of the lender. The warrants would be
    identical to the private placement warrants, including as to exercise price, exercisability and exercise period.</FONT></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; text-indent: -0.125in; padding-left: 0.125in; padding-top: 2pt; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; white-space: nowrap; vertical-align: top; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; vertical-align: bottom; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
    audit committee will review on a quarterly basis all payments that were made to our sponsor, officers or directors, or our
    or their affiliates.</FONT></TD></TR>
<TR>
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: top; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Audit
    Committee</B></FONT></TD>
    <TD STYLE="padding-top: 2pt; border-bottom: Black 1pt solid; white-space: nowrap; vertical-align: top; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; border-bottom: Black 1pt solid; vertical-align: bottom; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
    will establish and maintain an audit committee, which will be composed entirely of independent directors to, among other things,
    monitor compliance with the terms described above and the other terms relating to this offering. If any noncompliance is identified,
    then the audit committee will be charged with the responsibility to immediately take all action necessary to rectify such
    noncompliance or otherwise to cause compliance with the terms of this offering. For more information, see the section of this
    prospectus entitled &ldquo;Management&nbsp;&mdash; Committees of the Board of Directors&nbsp;&mdash; Audit Committee.&rdquo;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

</DIV>

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

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

<!-- Field: Page; Sequence: 25 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<DIV STYLE="padding: 10pt; border: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="padding-top: 2pt; border-top: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; width: 30%; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Indemnity</B></FONT></TD>
    <TD STYLE="padding-top: 2pt; border-top: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; vertical-align: top; width: 2%; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; border-top: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: bottom; width: 68%; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
    sponsor has agreed that it will be liable to us if and to the extent any claims by a third party for services rendered or
    products sold to us, or a prospective target business with which we have entered into a written letter of intent, confidentiality
    or similar agreement or business combination agreement, reduce the amount of funds in the trust account to below the lesser
    of (i) $10.00 per public share and (ii)&nbsp;the actual amount per public share held in the trust account as of the date of
    the liquidation of the trust account, if less than $10.00 per share due to reductions in the value of the trust assets, less
    taxes payable, provided that such liability will not apply to any claims by a third party or prospective target business who
    executed a waiver of any and all rights to the monies held in the trust account (whether or not such waiver is enforceable)
    nor will it apply to any claims under our indemnity of the underwriters of this offering against certain liabilities, including
    liabilities under the Securities Act. 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 believe
    that our sponsor&rsquo;s only assets are securities of our company. Therefore, we believe it is unlikely 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">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&nbsp;419 promulgated under the Securities Act. Accordingly, you will not be entitled
to protections normally afforded to investors in Rule&nbsp;419 blank check offerings. For additional information concerning how
Rule&nbsp;419 blank check offerings differ from this offering, please see the section of this prospectus entitled &ldquo;Proposed
Business&nbsp;&mdash; Comparison of This Offering to Those of Blank Check Companies Subject to Rule&nbsp;419.&rdquo; You should
carefully consider these and the other risks set forth in the section of this prospectus entitled &ldquo;Risk Factors&rdquo; beginning
on page 24 of this prospectus.</P>

</DIV>

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

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

<!-- Field: Page; Sequence: 26 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<DIV STYLE="padding: 10pt; border: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Summary
Financial Data</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The following table summarizes the relevant
financial data for our business and should be read with our financial statements, which are included in this prospectus. We have
not had any significant operations to date, so only balance sheet data is presented.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&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-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">August
    17, 2020<BR>
    (Audited)</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt">Balance
    Sheet Data:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 80%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt">Working
    capital (deficiency)</TD><TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 16%; font: 10pt Times New Roman, Times, Serif; text-align: right">(35,266.00</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt">Total assets</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">82,500.00</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt">Total liabilities</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">60,266.00</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt">Stockholder&rsquo;s
    equity</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">22,234.00</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

</DIV>

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

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

<!-- Field: Page; Sequence: 27 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="s2_001"></A>RISK FACTORS</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><I>An investment in our securities involves
a high degree of risk. You should consider carefully all of the risks described below, together with the other information contained
in this prospectus, before making a decision to invest in our units. If any of the following events occur, our business, financial
condition and operating results may be materially adversely affected. In that event, the trading price of our securities could
decline, and you could lose all or part of your investment.</I></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We are a newly formed company with no operating
results, and we will not commence operations until obtaining funding through this offering. Because we lack an operating history,
you have no basis upon which to evaluate our ability to achieve our business objective of completing our initial business combination
with one or more target businesses. We have no plans, arrangements or understandings with any prospective target business concerning
an initial business combination and may be unable to complete our initial business combination. If we fail to complete our initial
business combination, we will never generate any operating revenues.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">As of August 17, 2020, we had $25,000 in
cash and working capital deficit of $35,266. Further, we have incurred and expect to continue to incur significant costs in pursuit
of our financing 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 Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We may choose not to hold a stockholder
vote to approve our initial business combination unless the initial business combination would require stockholder approval under
applicable law or stock exchange listing requirements or if we decide to hold a stockholder vote for business or other legal reasons.
Except as required by law, the decision as to whether we will seek stockholder approval of a proposed initial 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. Accordingly, we may complete our initial business combination even if holders of a majority
of our public shares do not approve of the initial business combination we complete. Please see the section of this prospectus
entitled &ldquo;Proposed Business &mdash; Stockholders May Not Have the Ability to Approve Our Initial Business Combination&rdquo;
for additional information.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Pursuant to the letter agreement, our sponsor,
officers and directors have agreed to vote their founder shares, as well as any public shares purchased during or after this offering
(including in open market and privately negotiated transactions), in favor of our initial business combination. As a result, in
addition to our initial stockholders&rsquo; founder shares, we would need only 4,687,501, or 37.5%, of the 12,500,000 public shares
sold in this offering to be voted in favor of an initial business combination (assuming all outstanding shares are voted and our
sponsor, officers and directors do not purchase any public shares) in order to have our initial business combination approved
(assuming the over-allotment option is not exercised). Our initial stockholders will own shares representing 20% of our outstanding
shares of common stock immediately following the completion of this offering and the private placement. Accordingly, if we seek
stockholder approval of our initial business combination, the agreement by our initial stockholders to vote in favor of our initial
business combination will increase the likelihood that we will receive the requisite stockholder approval for such initial business
combination.</P>

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

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

<!-- Field: Page; Sequence: 28 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">At the time of your investment in us, you
will not be provided with an opportunity to evaluate the specific merits or risks of our initial business combination. Since our
board of directors may complete an initial business combination without seeking stockholder approval, public stockholders may
not have the right or opportunity to vote on the initial business combination, unless we seek such stockholder vote.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Accordingly, if we do not seek stockholder
approval, your only opportunity to affect the investment decision regarding a potential business combination may be limited to
exercising your redemption rights within the period of time (which will be at least 20 business days) set forth in our tender
offer documents mailed to our public stockholders in which we describe our initial business combination.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We may seek to enter into an initial business
combination agreement with a prospective target that requires as a closing condition that we have a minimum net worth or a certain
amount of cash. If too many public stockholders exercise their redemption rights, we would not be able to meet such closing condition
and, as a result, would not be able to proceed with the initial business combination. Furthermore, in no event will we redeem
our public shares unless our net tangible assets are at least $5,000,001 either immediately prior to or upon consummation of our
initial business combination and after payment of underwriters&rsquo; fees and commissions (so that we are not subject to the
SEC&rsquo;s &ldquo;penny stock&rdquo; rules) or any greater net tangible asset or cash requirement which may be contained in the
agreement relating to our initial business combination. Consequently, if accepting all properly submitted redemption requests
would cause our net tangible assets to be less than $5,000,001 or such greater amount necessary to satisfy a closing condition,
each as described above, we would not proceed with such redemption and the related business combination and may instead search
for an alternate business combination. Prospective targets will be aware of these risks and, thus, may be reluctant to enter into
an initial business combination with us.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">At the time we enter into an agreement for
our initial business combination, we will not know how many stockholders may exercise their redemption rights, and therefore will
need to structure the transaction based on our expectations as to the number of shares that will be submitted for redemption.
If our initial business combination agreement requires us to use a portion of the cash in the trust account to pay the purchase
price, or requires us to have a minimum amount of cash at closing, we will need to reserve a portion of the cash in the trust
account to meet such requirements, or arrange for third party financing. In addition, if a larger number of shares are submitted
for redemption than we initially expected, we may need to restructure the transaction to reserve a greater portion of the cash
in the trust account or arrange for third party financing. Raising additional third party financing may involve dilutive equity
issuances or the incurrence of indebtedness at higher than desirable levels. Furthermore, this dilution would increase to the
extent that the anti-dilution provision of the Class B common stock results in the issuance of Class A shares on a greater than
one-to-one basis upon conversion of the Class B common stock at the time of our business combination. The above considerations
may limit our ability to complete the most desirable business combination available to us or optimize our capital structure. The
amount of the deferred underwriting commissions payable to the underwriters will not be adjusted for any shares that are redeemed
in connection with an initial business combination. The per-share amount we will distribute to stockholders who properly exercise
their redemption rights will not be reduced by the deferred underwriting commission and after such redemptions, the per-share
value of shares held by non-redeeming stockholders will reflect our obligation to pay the deferred underwriting commissions.</P>

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

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

<!-- Field: Page; Sequence: 29 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">If our initial business combination agreement
requires us to use a portion of the cash in the trust account to pay the purchase price, or requires us to have a minimum amount
of cash at closing, the probability that our initial business combination would be unsuccessful is increased. If our initial business
combination is unsuccessful, you would not receive your pro rata portion of the trust account until we liquidate the trust account.
If you are in need of immediate liquidity, you could attempt to sell your stock in the open market; however, at such time our
stock may trade at a discount to the pro rata amount per share in the trust account. In either situation, you may suffer a material
loss on your investment or lose the benefit of funds expected in connection with our redemption until we liquidate or you are
able to sell your stock in the open market.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Any potential target business with which
we enter into negotiations concerning an initial business combination will be aware that we must complete our initial business
combination within 24 months from the closing of this offering. Consequently, such target business may obtain leverage over us
in negotiating an initial business combination, knowing that if we do not complete our initial business combination with that
particular target business, we may be unable to complete our initial business combination with any target business. This risk
will increase as we get closer to the timeframe described above. In addition, we may have limited time to conduct due diligence
and may enter into our initial business combination on terms that we would have rejected upon a more comprehensive investigation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>We may not be able to complete our initial business combination
within the prescribed time frame, in which case we would cease all operations except for the purpose of winding up and we would
redeem our public shares and liquidate, in which case our public stockholders may only receive $10.00 per share, or less than
such amount in certain circumstances, and our warrants will expire worthless.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our amended and restated certificate of
incorporation provides that we must complete our initial business combination within 24 months from the closing of this offering.
Our ability to complete our initial business combination may be negatively impacted by general market conditions, volatility in
the capital and debt markets and the other risks described herein. For example, the outbreak of the recent coronavirus (&ldquo;COVID-19&rdquo;)
continues to grow both in the U.S. and globally and, while the extent of the impact of the outbreak on us will depend on future
developments, it could limit our ability to complete our initial business combination, including as a result of increased market
volatility, decreased market liquidity and third-party financing being unavailable on terms acceptable to us or at all. Additionally,
the outbreak of COVID-19 may negatively impact businesses we may seek to acquire. If we have not completed our initial business
combination within such time period, we will: (i) cease all operations except for the purpose of winding up, (ii)&nbsp;as promptly
as reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-share price, payable
in cash, equal to the aggregate amount then on deposit in the trust account including interest earned on the funds held in the
trust account and not previously released to us to pay our taxes (less up to $100,000 of interest to pay dissolution expenses),
divided by the number of then outstanding public shares, which redemption will completely extinguish public stockholders&rsquo;
rights as stockholders (including the right to receive further liquidating distributions, if any), subject to applicable law,
and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining stockholders
and our board of directors, dissolve and liquidate, subject in each case to our obligations under Delaware law to provide for
claims of creditors and the requirements of other applicable law. In such case, our public stockholders may only receive $10.00
per share, and our warrants will expire worthless. In certain circumstances, our public stockholders may receive less than $10.00&nbsp;per
share on the redemption of their shares. See &ldquo;&mdash; If third parties bring claims against us, the proceeds held in the
trust account could be reduced and the per-share redemption amount received by stockholders may be less than $10.00 per share&rdquo;
and other risk factors below.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>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 COVID-19 outbreak and
the status of debt and equity markets.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In December 2019, a novel strain of coronavirus
was reported to have surfaced, which has and is continuing to spread throughout the world, including the United States and Europe.
On January 30, 2020, the World Health Organization declared the outbreak of COVID-19 a &ldquo;Public Health Emergency of International
Concern.&rdquo; On January 31, 2020, U.S. Health and Human Services Secretary Alex M. Azar II declared a public health emergency
for the United States to aid the U.S. healthcare community in responding to COVID-19, and on March 11, 2020 the World Health Organization
characterized the outbreak as a &ldquo;pandemic.&rdquo; The COVID-19 outbreak has resulted in a widespread health crisis that
has adversely affected economies and financial markets worldwide, business operations and the conduct of commerce generally, and
the business of any potential target business with which we consummate a business combination could be, or may already have been,
materially and adversely affected. Furthermore, we may be unable to complete a business combination if concerns relating to COVID-19
continue to restrict travel or 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 Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 30 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In addition, our ability to consummate a
transaction may be dependent on the ability to raise equity and debt financing which may be impacted by COVID-19 and other events,
including as a result of increased market volatility and decreased market liquidity and third-party financing being unavailable
on terms acceptable to us or at all.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">If we seek stockholder approval of our initial
business combination and we do not conduct redemptions in connection with our initial business combination pursuant to the tender
offer rules, our sponsor, directors, officers, advisors or their affiliates may purchase shares or public warrants or a combination
thereof in privately negotiated transactions or in the open market either prior to or following the completion of our initial
business combination, although they are under no obligation to do so. However, they have no current commitments, plans or intentions
to engage in such transactions and have not formulated any terms or conditions for any such transactions. None of the funds in
the trust account will be used to purchase shares or public warrants in such transactions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Such a purchase may include a contractual
acknowledgement that such stockholder, although still the record holder of our shares is no longer the beneficial owner thereof
and therefore agrees not to exercise its redemption rights. In the event that our sponsor, directors, officers, advisors or their
affiliates purchase shares in privately negotiated transactions from public stockholders who have already elected to exercise
their redemption rights, such selling stockholders would be required to revoke their prior elections to redeem their shares. The
purpose of such purchases could be to vote such shares in favor of the initial business combination and thereby increase the likelihood
of obtaining stockholder approval of the initial business combination, or to satisfy a closing condition in an agreement with
a target that requires us to have a minimum net worth or a certain amount of cash at the closing of our initial business combination,
where it appears that such requirement would otherwise not be met. The purpose of any such purchases of public warrants could
be to reduce the number of public warrants outstanding or to vote such warrants on any matters submitted to the warrantholders
for approval in connection with our initial business combination. Any such purchases of our securities may result in the completion
of our initial business combination that may not otherwise have been possible. Any such purchases will be reported pursuant to
Section 13 and Section&nbsp;16 of the Exchange Act to the extent such purchasers are subject to such reporting requirements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In addition, if such purchases are made,
the public &ldquo;float&rdquo; of our Class A common stock or public warrants and the number of beneficial holders of our securities
may be reduced, possibly making it difficult to obtain or maintain the quotation, listing or trading of our securities on a national
securities exchange.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We will comply with the tender offer rules
or proxy rules, as applicable, when conducting redemptions in connection with our initial business combination. Despite our compliance
with these rules, if a stockholder fails to receive our tender offer or proxy materials, as applicable, such stockholder may not
become aware of the opportunity to redeem its shares. In addition, proxy materials or tender offer documents, as applicable, that
we will furnish to holders of our public shares in connection with our initial business combination will describe the various
procedures that must be complied with in order to validly tender or redeem public shares. For example, we may require our public
stockholders seeking to exercise their redemption rights, whether they are record holders or hold their shares in &ldquo;street
name,&rdquo; to either tender their certificates to our transfer agent prior to the date set forth in the tender offer documents
mailed to such holders, or up to two business days prior to the vote on the proposal to approve the initial business combination
in the event we distribute proxy materials, or to deliver their shares to the transfer agent electronically. In the event that
a stockholder fails to comply with these or any other procedures, its shares may not be redeemed. See the section of this prospectus
entitled &ldquo;Proposed Business &mdash; Redemption Rights for Public Stockholders upon Completion of our Initial Business Combination
 &mdash; Tendering Stock Certificates in Connection with a Tender Offer or Redemption Rights.&rdquo;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our public stockholders will be entitled
to receive funds from the trust account only upon the earliest to occur of: (i) our completion of an initial business combination,
and then only in connection with those shares of Class A common stock that such stockholder properly elected to redeem, subject
to the limitations described herein, (ii) the redemption of any public shares properly submitted in connection with a stockholder
vote to amend our amended and restated certificate of incorporation (A) to modify the substance or timing of our obligation to
redeem 100% of our public shares if we do not complete our initial business combination within 24 months from the closing of this
offering or (B) with respect to any other provision relating to stockholders&rsquo; rights or pre-initial business combination
activity and (iii) the redemption of our public shares if we are unable to complete an initial business combination within 24
months from the closing of this offering, subject to applicable law and as further described herein. In no other circumstances
will a public stockholder have any right or interest of any kind in the trust account. Holders of warrants will not have any right
to the proceeds held in the trust account with respect to the warrants. Accordingly, to liquidate your investment, you may be
forced to sell your public shares or warrants, potentially at a loss.</P>

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

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

<!-- Field: Page; Sequence: 31 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We have applied to have our units listed
on Nasdaq. We expect that our units will be listed on Nasdaq on or promptly after the date of this prospectus. Following the date
the shares of our Class A common stock and warrants are eligible to trade separately, we anticipate that the shares of our Class
A common stock and warrants will be separately listed on Nasdaq. We cannot guarantee that our securities will be approved for
listing on Nasdaq. 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 $2,500,000) 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, our stockholders&rsquo; equity would generally be required to
be at least $5.0 million and we would be required to have a minimum of 300 round lot holders (with at least 50% of such round
lot holders holding securities with a market value of at least $2,500) of our securities. We cannot assure you that we will be
able to meet those initial listing requirements at that time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">If Nasdaq delists our securities from trading
on its exchange and we are not able to list our securities on another national securities exchange, we expect our securities could
be quoted on an over-the-counter market. If this were to occur, we could face significant material adverse consequences, including:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">a limited
                                         availability of market quotations for our securities;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">reduced
                                         liquidity for our securities;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">a determination
                                         that our Class A common stock is a &ldquo;penny stock&rdquo; which will require brokers
                                         trading in our Class A common stock to adhere to more stringent rules and possibly result
                                         in a reduced level of trading activity in the secondary trading market for our securities;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">a limited
                                         amount of news and analyst coverage; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">a decreased
                                         ability to issue additional securities or obtain additional financing in the future.</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The National Securities Markets Improvement
Act of 1996, which is a federal statute, prevents or preempts the states from regulating the sale of certain securities, which
are referred to as &ldquo;covered securities.&rdquo; Because we expect that our units and eventually our Class A common stock
and warrants will be listed on Nasdaq, our units, Class A common stock and warrants will be covered securities. Although the states
are preempted from regulating the sale of our securities, the federal statute does allow the states to investigate companies if
there is a suspicion of fraud, and, if there is a finding of fraudulent activity, then the states can regulate or bar the sale
of covered securities in a particular case. While we are not aware of a state having used these powers to prohibit or restrict
the sale of securities issued by blank check companies, other than the State of Idaho, certain state securities regulators view
blank check companies unfavorably and might use these powers, or threaten to use these powers, to hinder the sale of securities
of blank check companies in their states. Further, if we were no longer listed on Nasdaq, our securities would not be covered
securities and we would be subject to regulation in each state in which we offer our securities, including in connection with
our initial business combination.</P>

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

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

<!-- Field: Page; Sequence: 32 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Since the net proceeds of this offering
and the sale of the private placement warrants are intended to be used to complete an initial business combination with a target
business that has not been identified, we may be deemed to be a &ldquo;blank check&rdquo; company under the United States securities
laws. However, because we will have net tangible assets in excess of $5,000,000 upon the successful completion of this offering
and the sale of the private placement warrants and will file a Current Report on Form 8-K, including an audited balance sheet
demonstrating this fact, we are exempt from rules promulgated by the SEC to protect investors in blank check companies, such as
Rule&nbsp;419. Accordingly, investors will not be afforded the benefits or protections of those rules. Among other things, this
means our units will be immediately tradable and we will have a longer period of time to complete our initial business combination
than do companies subject to Rule 419. Moreover, if this offering were subject to Rule 419, that rule would prohibit the release
of any interest earned on funds held in the trust account to us unless and until the funds in the trust account were released
to us in connection with our completion of an initial business combination. For a more detailed comparison of our offering to
offerings that comply with Rule 419, please see the section of this prospectus entitled &ldquo;Proposed Business &mdash; Comparison
of This Offering to Those of Blank Check Companies Subject to Rule 419.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>If we seek stockholder approval of our initial business
combination and we do not conduct redemptions pursuant to the tender offer rules, and if you or a &ldquo;group&rdquo; of stockholders
are deemed to hold in excess of 20% of our Class A common stock, you will lose the ability to redeem all such shares in excess
of 20% of our Class A common stock.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">If we seek stockholder approval of our initial
business combination and we do not conduct redemptions in connection with our initial business combination pursuant to the tender
offer rules, our amended and restated certificate of incorporation will provide that a public stockholder, together with any affiliate
of such stockholder or any other person with whom such stockholder is acting in concert or as a &ldquo;group&rdquo; (as defined
under Section 13 of the Exchange Act), will be restricted from seeking redemption rights with respect to more than an aggregate
of 20% of the shares sold in this offering without our prior consent, which we refer to as the &ldquo;Excess Shares.&rdquo; However,
we would not be restricting our stockholders&rsquo; ability to vote all of their shares (including Excess Shares) for or against
our initial business combination. Your inability to redeem the Excess Shares will reduce your influence over our ability to complete
our initial business combination and you could suffer a material loss on your investment in us if you sell Excess Shares in open
market transactions. Additionally, you will not receive redemption distributions with respect to the Excess Shares if we complete
our initial business combination. And as a result, you will continue to hold that number of shares exceeding 20% and, in order
to dispose of such shares, would be required to sell your stock in open market transactions, potentially at a loss.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We expect to encounter competition from
other entities having a business objective similar to ours, including private investors (which may be individuals or investment
partnerships), other blank check companies and other entities competing for the types of businesses we intend to acquire. Many
of these individuals and entities are well-established and have extensive experience in identifying and effecting, directly or
indirectly, acquisitions of companies operating in or providing services to various industries. Many of these competitors possess
similar technical, human and other resources to ours, and our financial resources will be relatively limited when contrasted with
those of many of these competitors. While we believe there are numerous target businesses we could potentially acquire with the
net proceeds of this offering and the sale of the private placement warrants, our ability to compete with respect to the acquisition
of certain target businesses that are sizable will be limited by our available financial resources. This inherent competitive
limitation gives others an advantage in pursuing the acquisition of certain target businesses. Furthermore, because we are obligated
to pay cash for the shares of Class&nbsp;A common stock which our public stockholders redeem in connection with our initial business
combination, target companies will be aware that this may reduce the resources available to us for our initial business combination.
This may place us at a competitive disadvantage in successfully negotiating an initial business combination. If we are unable
to complete our initial business combination, our public stockholders may receive only approximately $10.00 per share on the liquidation
of our trust account and our warrants will expire worthless. In certain circumstances, our public stockholders may receive less
than $10.00 per share upon our liquidation. See &ldquo;&mdash; If third parties bring claims against us, the proceeds held in
the trust account could be reduced and the per-share redemption amount received by stockholders may be less than $10.00 per share&rdquo;
and other risk factors below.</P>

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

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

<!-- Field: Page; Sequence: 33 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->29<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Of the net proceeds of this offering and
the sale of the private placement warrants, only approximately $1,000,000 will be available to us initially outside the trust
account to fund our working capital requirements. In the event that our offering expenses exceed our estimate of $750,000, we
may fund such excess with funds not to be held in the trust account. In such case, the amount of funds we intend to be held outside
the trust account would decrease by a corresponding amount. The amount held in the trust account will not be impacted as a result
of such increase or decrease. Conversely, in the event that the offering expenses are less than our estimate of $750,000, the
amount of funds we intend to be held outside the trust account would increase by a corresponding amount. If we are required to
seek additional capital, we would need to borrow funds from our sponsor, management team or other third parties to operate or
may be forced to liquidate. None of our sponsor, members of our management team nor any of their affiliates is under any obligation
to advance funds to us in such circumstances. Any such advances would be repaid only from funds held outside the trust account
or from funds released to us upon completion of our initial business combination. Up to $1,500,000 of such loans may be convertible
into private placement-equivalent warrants at a price of $1.00 per warrant at the option of the lender. Prior to the completion
of our initial business combination, we do not expect to seek loans from parties other than our sponsor or an affiliate of our
sponsor as we do not believe third parties will be willing to loan such funds and provide a waiver against any and all rights
to seek access to funds in our trust account. If we are unable to obtain these loans, we may be unable to complete our initial
business combination. If we are unable to complete our initial business combination because we do not have sufficient funds available
to us, we will be forced to cease operations and liquidate the trust account. Consequently, our public stockholders may only receive
approximately $10.00 per share on our redemption of our public shares, and our warrants will expire worthless. In certain circumstances,
our public stockholders may receive less than $10.00 per share on the redemption of their shares. See &ldquo;&mdash; If third
parties bring claims against us, the proceeds held in the trust account could be reduced and the per-share redemption amount received
by stockholders may be less than $10.00 per share&rdquo; and other risk factors below.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Even if we conduct extensive due diligence
on a target business with which we combine, we cannot assure you that this diligence will surface all material issues that may
be present inside a particular target business, that it would be possible to uncover all material issues through a customary amount
of due diligence, or that factors outside of the target business and outside of our control will not later arise. As a result
of these factors, we may be forced to later write-down or write-off assets, restructure our operations, or incur impairment or
other charges that could result in our reporting losses. Even if our due diligence successfully identifies certain risks, unexpected
risks may arise and previously known risks may materialize in a manner not consistent with our preliminary risk analysis. Even
though these charges may be non-cash items and not have an immediate impact on our liquidity, the fact that we report charges
of this nature could contribute to negative market perceptions about us or our securities. In addition, charges of this nature
may cause us to violate net worth or other covenants to which we may be subject as a result of assuming pre-existing debt held
by a target business or by virtue of our obtaining debt financing to partially finance the initial business combination. Accordingly,
any stockholders who choose to remain stockholders following the initial business combination could suffer a reduction in the
value of their shares. Such stockholders are unlikely to have a remedy for such reduction in value unless they are able to successfully
claim that the reduction was due to the breach by our officers or directors of a duty of care or other fiduciary duty owed to
them, or if they are able to successfully bring a private claim under securities laws that the proxy solicitation or tender offer
materials, as applicable, relating to the initial business combination constituted an actionable material misstatement or omission.</P>

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

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

<!-- Field: Page; Sequence: 34 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->30<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our placing of funds in the trust account
may not protect those funds from third-party claims against us. Although we will seek to have all vendors, service providers,
prospective target businesses 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. Marcum LLP, our independent registered
public accounting firm, and the underwriters of the offering, will not execute agreements with us waiving such claims to the monies
held in the trust account.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Examples of possible instances where we
may engage a third party that refuses to execute a waiver include the engagement of a third party consultant whose particular
expertise or skills are believed by management to be significantly superior to those of other consultants that would agree to
execute a waiver or in cases where management is unable to find a service provider willing to execute a waiver. In addition, there
is no guarantee that such entities will agree to waive any claims they may have in the future as a result of, or arising out of,
any negotiations, contracts or agreements with us and will not seek recourse against the trust account for any reason. Upon redemption
of our public shares, if we are unable to complete our initial business combination within the prescribed timeframe, 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 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 Exhibit 10.1 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 for services rendered or products sold to us, or a prospective target business with which
we have entered into a written letter of intent, confidentiality or similar agreement or business combination agreement, reduce
the amount of funds in the trust account to below the lesser of (i) $10.00 per public share and (ii) the actual amount per public
share held in the trust account as of the date of the liquidation of the trust account, if less than $10.00 per share due to reductions
in the value of the trust assets, less taxes payable, provided that such liability will not apply to any claims by a third party
or prospective target business who executed a waiver of any and all rights to the monies held in the trust account (whether or
not such waiver is enforceable) nor will it apply to any claims under our indemnity of the underwriters of this offering against
certain liabilities, including liabilities under the Securities Act. 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 believe that our sponsor&rsquo;s only assets are securities of our company. Therefore, it is unlikely 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 Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">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 net of the interest which may be withdrawn to pay taxes, 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.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">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, for example, the cost of such legal action is deemed by the independent directors to be too
high relative to the amount recoverable or if the independent directors determine that a favorable outcome is not likely. 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 Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

<!-- Field: Page; Sequence: 35 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->31<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>We may not have sufficient funds to satisfy indemnification
claims of our directors and executive officers.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We have agreed to indemnify our officers
and directors to the fullest extent permitted by law. However, our officers and directors have agreed to waive (and any other
persons who may become an officer or director prior to the initial business combination will also be required to waive) any right,
title, interest or claim of any kind in or to any monies in the trust account and not to seek recourse against the trust account
for any reason whatsoever. Accordingly, any indemnification provided will be able to be satisfied by us only if (i) we have sufficient
funds outside of the trust account or (ii) we consummate an initial business combination. Our obligation to indemnify our officers
and directors may discourage stockholders from bringing a lawsuit against our officers or directors for breach of their fiduciary
duty. These provisions also may have the effect of reducing the likelihood of derivative litigation against our officers and directors,
even though such an action, if successful, might otherwise benefit us and our stockholders. Furthermore, a stockholder&rsquo;s
investment may be adversely affected to the extent we pay the costs of settlement and damage awards against our officers and directors
pursuant to these indemnification provisions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>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 we and our board may be exposed to claims of punitive damages.</B></P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>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 stockholders may be less than $10.00 per share.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The proceeds held in the trust account will
be invested only in U.S. government treasury obligations with a maturity of 185 days or less or in money market funds meeting
certain conditions under Rule 2a-7&nbsp;under the Investment Company Act, which invest only in direct U.S. government treasury
obligations. While short-term&nbsp;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 stockholders are entitled to receive their
pro-rata&nbsp;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&nbsp;redemption amount received by public stockholders may be less
than $10.00 per share.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>If we are deemed to be an investment company under the Investment
Company Act, we may be required to institute burdensome compliance requirements and our activities may be restricted, which may
make it difficult for us to complete our initial business combination.</B></P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">restrictions
                                         on the nature of our investments; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">restrictions
                                         on the issuance of securities, each of which may make it difficult for us to complete
                                         our initial business combination.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

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

<!-- Field: Page; Sequence: 36 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->32<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In addition, we may have imposed upon us
burdensome requirements, including:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">registration
                                         as an investment company;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">adoption
                                         of a specific form of corporate structure; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">reporting,
                                         record keeping, voting, proxy and disclosure requirements and other rules and regulations.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">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 earliest
to occur of: (i) the completion of our initial business combination; (ii) the redemption of any public shares properly submitted
in connection with a stockholder vote to amend our amended and restated certificate of incorporation (A) to modify the substance
or timing of our obligation to redeem 100% of our public shares if we do not complete our initial business combination within
24 months from the closing of this offering or (B) with respect to any other provision relating to stockholders&rsquo; rights
or pre-initial business combination activity; or (iii) absent an initial business combination within 24 months from the closing
of this offering, 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 an initial business combination
or may result in our liquidation. If we are unable to complete our initial business combination, our public stockholders may receive
only approximately $10.00 per share on the liquidation of our trust account and our warrants will expire worthless.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Changes in laws or regulations, or a failure to comply with
any laws and regulations, may adversely affect our business, including our ability to negotiate and complete our initial business
combination and results of operations.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">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.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">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, including our ability to negotiate and complete our initial business combination
and results of operations.</P>

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

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

<!-- Field: Page; Sequence: 37 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->33<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>We may not hold an annual meeting of stockholders until
after the consummation of our initial business combination, which could delay the opportunity for our stockholders to elect directors.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In accordance with Nasdaq corporate governance
requirements, we are not required to hold an annual meeting until no later than one year after our first fiscal year end following
our listing on Nasdaq. Under Section 211(b) of the DGCL, we are, however, required to hold an annual meeting of stockholders for
the purposes of electing directors in accordance with our bylaws unless such election is made by written consent in lieu of such
a meeting. We may not hold an annual meeting of stockholders to elect new directors prior to the consummation of our initial business
combination, and thus we may not be in compliance with Section 211(b) of the DGCL, which requires an annual meeting. Therefore,
if our stockholders want us to hold an annual meeting prior to the consummation of our initial business combination, they may
attempt to force us to hold one by submitting an application to the Delaware Court of Chancery in accordance with Section 211(c)
of the DGCL.</P>

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

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

<!-- Field: Page; Sequence: 38 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->34<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>We are not registering the shares of Class A common stock
issuable upon exercise of the warrants under the Securities Act or any state securities laws at this time, and such registration
may not be in place when an investor desires to exercise warrants, thus precluding such investor from being able to exercise its
warrants except on a cashless basis. If the issuance of the shares upon exercise of warrants is not registered, qualified or exempt
from registration or qualification, the holder of such warrant will not be entitled to exercise such warrant and such warrant
may have no value and expire worthless.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We are not registering the shares of Class
A common stock issuable upon exercise of the warrants under the Securities Act or any state securities laws at this time. However,
under the terms of the warrant agreement, we have agreed that as soon as practicable, but in no event later than 15 business days
after the closing of our initial business combination, we will use our best efforts to file with the SEC a registration statement
for the registration under the Securities Act of the shares of Class A common stock issuable upon exercise of the warrants and
thereafter will use our best efforts to cause the same to become effective within 60 business days following our initial business
combination and to maintain a current prospectus relating to the Class A common stock issuable upon exercise of the warrants,
until the expiration of the warrants in accordance with the provisions of the warrant agreement. We cannot assure you that we
will be able to do so if, for example, any facts or events arise which represent a fundamental change in the information set forth
in the registration statement or prospectus, the financial statements contained or incorporated by reference therein are not current
or correct or the SEC issues a stop order. If the shares issuable upon exercise of the warrants are not registered under the Securities
Act, we will be required to permit holders to exercise their warrants on a cashless basis. However, no warrant will be exercisable
for cash or on a cashless basis, and we will not be obligated to issue any shares to holders seeking to exercise their warrants,
unless the issuance of the shares upon such exercise is registered or qualified under the securities laws of the state of the
exercising holder, or an exemption from registration is available. Notwithstanding the foregoing, if a registration statement
covering the Class A common stock issuable upon exercise of the warrants is not effective within a specified period following
the consummation of our initial business combination, warrant holders may, until such time as there is an effective registration
statement and during any period when we shall have failed to maintain an effective registration statement, exercise warrants on
a cashless basis pursuant to the exemption provided by Section 3(a)(9) of the Securities Act of 1933, as amended, or the Securities
Act, provided that such exemption is available. If that exemption, or another exemption, is not available, holders will not be
able to exercise their warrants on a cashless basis. We will use our best efforts to register or qualify the shares under applicable
blue sky laws to the extent an exemption is not available. In no event will we be required to net cash settle any warrant, or
issue securities or other compensation in exchange for the warrants in the event that we are unable to register or qualify the
shares underlying the warrants under applicable state securities laws and there is no exemption available. If the issuance of
the shares upon exercise of the warrants is not so registered or qualified or exempt from registration or qualification, the holder
of such warrant will not be entitled to exercise such warrant and such warrant may have no value and expire worthless. In such
event, holders who acquired their warrants as part of a purchase of units will have paid the full unit purchase price solely for
the shares of Class A common stock included in the units. If and when the warrants become redeemable by us, we may not exercise
our redemption right if the issuance of shares of common stock upon exercise of the warrants is not exempt from registration or
qualification under applicable state blue sky laws or we are unable to effect such registration or qualification. We will use
our best efforts to register or qualify such shares of common stock under the blue sky laws of the state of residence in those
states in which the warrants were offered by us in this offering. However, there may be instances in which holders of our public
warrants may be unable to exercise such public warrants but holders of our private warrants may be able to exercise such private
warrants.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>If you exercise your public warrants on a &ldquo;cashless
basis,&rdquo; you will receive fewer shares of Class A common stock from such exercise than if you were to exercise such warrants
for cash.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">There are circumstances in which the exercise
of the public warrants may be required or permitted to be made on a cashless basis. First, if a registration statement covering
the shares of Class A common stock issuable upon exercise of the warrants is not effective by the 60<SUP>th</SUP> business day
after the closing of our initial business combination, warrantholders may, until such time as there is an effective registration
statement, exercise warrants on a cashless basis in accordance with Section 3(a)(9) of the Securities Act or another exemption.
Second, if a registration statement covering the Class A common stock issuable upon exercise of the warrants is not effective
within a specified period following the consummation of our initial business combination, warrant holders may, until such time
as there is an effective registration statement and during any period when we shall have failed to maintain an effective registration
statement, exercise warrants on a cashless basis pursuant to the exemption provided by Section&nbsp;3(a)(9) of the Securities
Act, provided that such exemption is available; if that exemption, or another exemption, is not available, holders will not be
able to exercise their warrants on a cashless basis. Third, if we call the public warrants for redemption, our management will
have the option to require all holders that wish to exercise warrants to do so on a cashless basis. In the event of an exercise
on a cashless basis, a holder would pay the warrant exercise price by surrendering the warrants for that number of shares of Class
A common stock equal to the quotient obtained by dividing (x) the product of the number of shares of Class A common stock underlying
the warrants, multiplied by the difference between the exercise price of the warrants and the &ldquo;fair market value&rdquo;
(as defined in the next sentence) by (y) the fair market value. The &ldquo;fair market value&rdquo; is the average reported last
sale price of the Class A common stock for the 10 trading days ending on the third trading day prior to the date on which the
notice of exercise is received by the warrant agent or on which the notice of redemption is sent to the holders of warrants, as
applicable. As a result, you would receive fewer shares of Class A common stock from such exercise than if you were to exercise
such warrants for cash.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><B>Our warrant agreement
will designate the courts of the State of New York or the United States District Court for the Southern District of New York as
the sole and exclusive forum for certain types of actions and proceedings that may be initiated by holders of our warrants, which
could limit the ability of warrant holders to obtain a favorable judicial forum for disputes with our company.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our warrant agreement will provide that,
subject to applicable law, (i) any action, proceeding or claim against us arising out of or relating in any way to the warrant
agreement, including under the Securities Act, will be brought and enforced in the courts of the State of New York or the United
States District Court for the Southern District of New York, and (ii) that we irrevocably submit to such jurisdiction, which jurisdiction
shall be the exclusive forum for any such action, proceeding or claim. We will waive any objection to such exclusive jurisdiction
and that such courts represent an inconvenient forum.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Notwithstanding the foregoing, these provisions
of the warrant agreement will not apply to suits brought to enforce any liability or duty created by the Exchange Act or any other
claim for which the federal district courts of the United States of America are the sole and exclusive forum. Any person or entity
purchasing or otherwise acquiring any interest in any of our warrants shall be deemed to have notice of and to have consented
to the forum provisions in our warrant agreement. If any action, the subject matter of which is within the scope the forum provisions
of the warrant agreement, is filed in a court other than a court of the State of New York or the United States District Court
for the Southern District of New York (a &ldquo;foreign action&rdquo;) in the name of any holder of our warrants, such holder
shall be deemed to have consented to: (x) the personal jurisdiction of the state and federal courts located in the State of New
York in connection with any action brought in any such court to enforce the forum provisions (an &ldquo;enforcement action&rdquo;),
and (y) having service of process made upon such warrant holder in any such enforcement action by service upon such warrant holder&rsquo;s
counsel in the foreign action as agent for such warrant holder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">This choice-of-forum&nbsp;provision may
limit a warrant holder&rsquo;s ability to bring a claim in a judicial forum that it finds favorable for disputes with our company,
which may discourage such lawsuits. Alternatively, if a court were to find this provision of our warrant agreement inapplicable
or unenforceable with respect to one or more of the specified types of actions or proceedings, we may incur additional costs associated
with resolving such matters in other jurisdictions, which could materially and adversely affect our business, financial condition
and results of operations and result in a diversion of the time and resources of our management and board of directors.</P>

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

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

<!-- Field: Page; Sequence: 39 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->35<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Pursuant to an agreement to be entered into
concurrently with the issuance and sale of the securities in this offering, our initial stockholders and their permitted transferees
can demand that we register the private placement warrants, the shares of Class A common stock issuable upon exercise of the founder
shares and the private placement warrants held, or to be held, by them and holders of warrants that may be issued upon conversion
of working capital loans may demand that we register such warrants or the Class A common stock issuable upon exercise of such
warrants. We will bear the cost of registering these securities. The registration and availability of such a significant number
of securities for trading in the public market may have an adverse effect on the market price of our Class A common stock. In
addition, the existence of the registration rights may make our initial business combination more costly or difficult to conclude.
This is because the stockholders of the target business may increase the equity stake they seek in the combined entity or ask
for more cash consideration to offset the negative impact on the market price of our Class A common stock that is expected when
the securities owned by our initial stockholders or holders of working capital loans or their respective permitted transferees
are registered.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Because we are neither limited to evaluating a target business
in a particular industry sector nor have we selected any specific target businesses with which to pursue our initial business
combination, you will be unable to ascertain the merits or risks of any particular target business&rsquo;s operations.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We are not limited to completing an initial
business combination in any industry or geographical region, although we will not, under our amended and restated certificate
of incorporation, be permitted to effectuate our initial business combination with another blank check company or similar company
with nominal operations. Because we have not yet selected or approached any specific target business with respect to a business
combination, there is no basis to evaluate the possible merits or risks of any particular target business&rsquo;s operations,
results of operations, cash flows, liquidity, financial condition or prospects. To the extent we complete our initial business
combination, we may be affected by numerous risks inherent in the business operations with which we combine. For example, if we
combine with a financially unstable business or an entity lacking an established record of sales or earnings, we may be affected
by the risks inherent in the business and operations of a financially unstable or a development stage entity. Although our officers
and directors will endeavor to evaluate the risks inherent in a particular target business, we cannot assure you that we will
properly ascertain or assess all of the significant risk factors or that we will have adequate time to complete due diligence.
Furthermore, some of these risks may be outside of our control and leave us with no ability to control or reduce the chances that
those risks will adversely impact a target business. We also cannot assure you that an investment in our units will ultimately
prove to be more favorable to investors than a direct investment, if such opportunity were available, in a business combination
target. Accordingly, any stockholders who choose to remain stockholders following our initial business combination could suffer
a reduction in the value of their securities. Such stockholders are unlikely to have a remedy for such reduction in value unless
they are able to successfully claim that the reduction was due to the breach by our officers or directors of a duty of care or
other fiduciary duty owed to them, or if they are able to successfully bring a private claim under securities laws that the proxy
solicitation or tender offer materials, as applicable, relating to the business combination contained an actionable material misstatement
or material omission.</P>

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

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

<!-- Field: Page; Sequence: 40 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->36<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Past performance by our management team and its affiliates
may not be indicative of future performance of an investment in the Company.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Past performance by our management team
and its affiliates is not a guarantee either (i) of success with respect to any business combination we may consummate or (ii)
that we will be able to locate a suitable candidate for our initial business combination. You should not rely on the historical
record of our management team or their affiliates&rsquo; performance as indicative of our future performance of an investment
in the company or the returns the company will, or is likely to, generate going forward. Additionally, in the course of their
respective careers, members of our management team and their affiliates have been involved in businesses and transactions that
were not successful.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>We may seek business combination opportunities in industries
or sectors which may or may not be outside of our management&rsquo;s area of expertise.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Although we intend to focus on identifying
companies in sectors where we have experience, we will consider an initial business combination outside of our management&rsquo;s
area of expertise if an initial business combination candidate is presented to us and we determine that such candidate offers
an attractive business combination opportunity for our company or we are unable to identify a suitable candidate in this sector
after having expanded a reasonable amount of time and effort in an attempt to do so. Although our management will endeavor to
evaluate the risks inherent in any particular business combination candidate, we cannot assure you that we will adequately ascertain
or assess all of the significant risk factors. We also cannot assure you that an investment in our units will not ultimately prove
to be less favorable to investors in this offering than a direct investment, if an opportunity were available, in an initial business
combination candidate. In the event we elect to pursue a business combination outside of the areas of our management&rsquo;s expertise,
our management&rsquo;s expertise may not be directly applicable to its evaluation or operation, and the information contained
in this prospectus regarding the areas of our management&rsquo;s expertise would not be relevant to an understanding of the business
that we elect to acquire. As a result, our management may not be able to adequately ascertain or assess all of the significant
risk factors. Accordingly, any stockholders who choose to remain stockholders following our initial business combination could
suffer a reduction in the value of their shares. Such stockholders are unlikely to have a remedy for such reduction in value.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Although we have identified general criteria
and guidelines for evaluating prospective target businesses, it is possible that a target business with which we enter into our
initial business combination will not have all of these positive attributes. If we complete our initial business combination with
a target that does not meet some or all of these guidelines, such combination may not be as successful as a combination with a
business that does meet all of our general criteria and guidelines. In addition, if we announce a prospective business combination
with a target that does not meet our general criteria and guidelines, a greater number of stockholders may exercise their redemption
rights, which may make it difficult for us to meet any closing condition with a target business that requires us to have a minimum
net worth or a certain amount of cash. In addition, if stockholder approval of the transaction is required by law, or we decide
to obtain stockholder approval for business or other legal reasons, it may be more difficult for us to attain stockholder approval
of our initial business combination if the target business does not meet our general criteria and guidelines. If we are unable
to complete our initial business combination, our public stockholders may receive only approximately $10.00 per share on the liquidation
of our trust account and our warrants will expire worthless. In certain circumstances, our public stockholders may receive less
than $10.00 per share on the redemption of their shares. See &ldquo;&mdash; If third parties bring claims against us, the proceeds
held in the trust account could be reduced and the per-share redemption amount received by stockholders may be less than $10.00
per share&rdquo; and other risk factors below.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>We may seek business combination opportunities with a financially
unstable business or an entity lacking an established record of revenue, cash flow or earnings, which could subject us to volatile
revenues, cash flows or earnings or difficulty in retaining key personnel.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">To the extent we complete our initial business
combination with a financially unstable business or an entity lacking an established record of revenues or earnings, we may be
affected by numerous risks inherent in the operations of the business with which we combine. These risks include volatile revenues
or earnings and difficulties in obtaining and retaining key personnel. Although our officers and directors will endeavor to evaluate
the risks inherent in a particular target business, we may not be able to properly ascertain or assess all of the significant
risk factors and we may not have adequate time to complete due diligence. Furthermore, some of these risks may be outside of our
control and leave us with no ability to control or reduce the chances that those risks will adversely impact a target business.</P>

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

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

<!-- Field: Page; Sequence: 41 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->37<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Unless we complete our initial business
combination with an affiliated entity or our board cannot independently determine the fair market value of the target business
or businesses, we are not required to obtain an opinion from an independent investment banking firm or from another independent
entity that commonly renders valuation opinions that the price we are paying is fair to our company from a financial point of
view. If no opinion is obtained, our stockholders will be relying on the judgment of our board of directors, who will determine
fair market value based on standards generally accepted by the financial community. Such standards used will be disclosed in our
proxy materials or tender offer documents, as applicable, related to our initial business combination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>We may issue additional common stock or preferred stock
to complete our initial business combination or under an employee incentive plan after completion of our initial business combination.
We may also issue shares of Class A common stock upon the conversion of the Class B common stock at a ratio greater than one-to-one
at the time of our initial business combination as a result of the anti-dilution provisions contained in our amended and restated
certificate of incorporation. Any such issuances would dilute the interest of our stockholders and likely present other risks.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our amended and restated certificate of
incorporation authorizes the issuance of up to 100,000,000 shares of Class A common stock, par value $0.0001 per share, 10,000,000
shares of Class B common stock, par value $0.0001 per share, and 1,000,000 shares of preferred stock, par value $0.0001 per share.
Immediately after this offering, there will be 77,000,000 and 6,875,000 (assuming, in each case, that the underwriters have not
exercised their over-allotment option) authorized but unissued shares of Class A common stock and Class B common stock, respectively,
available for issuance, which amount does not take into account the shares of Class A common stock reserved for issuance upon
exercise of outstanding warrants nor the shares of Class A common stock issuable upon conversion of Class B common stock. Immediately
after the consummation of this offering, there will be no shares of preferred stock issued and outstanding. Shares of Class B
common stock are convertible into shares of our Class&nbsp;A common stock initially at a one-for-one ratio but subject to adjustment
as set forth herein, including in certain circumstances in which we issue Class A common stock or equity-linked securities related
to our initial business combination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We may issue a substantial number of additional
shares of common or preferred stock to complete our initial business combination or under an employee incentive plan after completion
of our initial business combination (although our amended and restated certificate of incorporation will provide that we may not
issue securities that can vote with common stockholders on matters related to our pre-initial business combination activity).
We may also issue shares of Class A common stock upon conversion of the Class B common stock at a ratio greater than one-to-one
at the time of our initial business combination as a result of the anti-dilution provisions contained in our amended and restated
certificate of incorporation. However, our amended and restated certificate of incorporation will provide, among other things,
that prior to our initial business combination, we may not issue additional shares of capital stock that would entitle the holders
thereof to (i) receive funds from the trust account or (ii) vote on any initial business combination. These provisions of our
amended and restated certificate of incorporation, like all provisions of our amended and restated certificate of incorporation,
may be amended with the approval of our stockholders. However, our executive officers, directors and director nominees have agreed,
pursuant to a written agreement with us, that they will not propose any amendment to our amended and restated certificate of incorporation
(A) to modify the substance or timing of our obligation to redeem 100% of our public shares if we do not complete our initial
business combination within 24 months from the closing of this offering or (B) with respect to any other provision relating to
stockholders&rsquo; rights or pre-initial business combination activity, unless we provide our public stockholders with the opportunity
to redeem their shares of common stock upon approval of any such amendment at a per-share price, payable in cash, equal to the
aggregate amount then on deposit in the trust account, including interest (which interest shall be net of taxes payable), divided
by the number of then outstanding public shares.</P>

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

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

<!-- Field: Page; Sequence: 42 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->38<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The issuance of additional shares of common
or preferred stock:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">may significantly
                                         dilute the equity interest of investors in this offering;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">may subordinate
                                         the rights of holders of common stock if preferred stock is issued with rights senior
                                         to those afforded our common stock;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">could
                                         cause a change of control if a substantial number of shares of our common stock are issued,
                                         which may affect, among other things, our ability to use our net operating loss carry
                                         forwards, if any, and could result in the resignation or removal of our present officers
                                         and directors; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">may adversely
                                         affect prevailing market prices for our units, Class A common stock and/or warrants.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>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, or less than such amount in certain circumstances, on the liquidation of our trust account and our warrants
will expire worthless.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">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, consultants
and others. If we decide not to complete a specific initial business combination, the costs incurred up to that point for the
proposed transaction likely would not be recoverable. Furthermore, if we reach an agreement relating to a specific target business,
we may fail to complete our initial business combination for any number of reasons including those beyond our control. Any such
event will result in a loss to us of the related costs incurred which could materially adversely affect subsequent attempts to
locate and acquire or merge with another business. If we are unable to complete our initial business combination, our public stockholders
may receive only approximately $10.00 per share on the liquidation of our trust account and our warrants will expire worthless.
In certain circumstances, our public stockholders may receive less than $10.00 per share on the redemption of their shares. See
 &ldquo;&mdash; If third parties bring claims against us, the proceeds held in the trust account could be reduced and the per-share
redemption amount received by stockholders may be less than $10.00 per share&rdquo; and other risk factors below.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our ability to successfully effect our initial
business combination is dependent upon the efforts of our key personnel. The role of our key personnel in the target business,
however, cannot presently be ascertained. Although some of our key personnel may remain with the target business in senior management
or advisory positions following our initial business combination, it is likely that some or all of the management of the target
business will remain in place. While we intend to closely scrutinize any individuals we employ after our initial business combination,
we cannot assure you that our assessment of these individuals will prove to be correct. These individuals may be unfamiliar with
the requirements of operating a company regulated by the SEC, which could cause us to have to expend time and resources helping
them become familiar with such requirements. In addition, the officers and directors of an initial business combination candidate
may resign upon completion of our initial business combination. The departure of an initial business combination target&rsquo;s
key personnel could negatively impact the operations and profitability of our post-combination business. The role of an initial
business combination candidate&rsquo;s key personnel upon the completion of our initial business combination cannot be ascertained
at this time. Although we contemplate that certain members of an initial business combination candidate&rsquo;s management team
will remain associated with the initial business combination candidate following our initial business combination, it is possible
that members of the management of an initial business combination candidate will not wish to remain in place. The loss of key
personnel could negatively impact the operations and profitability of our post-combination business.</P>

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

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

<!-- Field: Page; Sequence: 43 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->39<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our operations are dependent upon a relatively
small group of individuals and, in particular, our executive officers and directors. We believe that our success depends on the
continued service of our executive officers and directors, at least until we have completed our initial business combination.
We do not have an employment agreement with, or key-man insurance on the life of, any of our directors or executive officers.
The unexpected loss of the services of one or more of our directors or executive officers could have a detrimental effect on us.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Our key personnel may negotiate employment or consulting
agreements as well as reimbursement of out-of-pocket expenses, if any, with a target business in connection with a particular
business combination. These agreements may provide for them to receive compensation or reimbursement for out-of-pocket expenses,
if any, 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.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our key personnel may be able to remain
with the company after the completion of our initial business combination only if they are able to negotiate employment or consulting
agreements in connection with the initial business combination. Additionally, they may negotiate reimbursement of any out-of-pocket
expenses incurred on our behalf prior to the consummation of our initial business combination, should they choose to do so. Such
negotiations would take place simultaneously with the negotiation of the initial 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 initial business combination, or as reimbursement for such out-of-pocket expenses. The personal and financial
interests of such individuals may influence their motivation in identifying and selecting a target business. However, we believe
the ability of such individuals to remain with us after the completion of our initial business combination will not be the determining
factor in our decision as to whether or not we will proceed with any potential business combination. There is no certainty, however,
that any of our key personnel will remain with us after the completion of our initial business combination. We cannot assure you
that any of our key personnel will remain in senior management or advisory positions with us. The determination as to whether
any of our key personnel will remain with us will be made at the time of our initial business combination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>We may have a limited ability to assess the management of
a prospective target business and, as a result, may affect our initial business combination with a target business whose management
may not have the skills, qualifications or abilities to manage a public company, which could, in turn, negatively impact the value
of our stockholders&rsquo; investment in us.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">When evaluating the desirability of effecting
our initial business combination with a prospective target business, our ability to assess the target business&rsquo;s management
may be limited due to a lack of time, resources or information. Our assessment of the capabilities of the target&rsquo;s management,
therefore, may prove to be incorrect and such management may lack the skills, qualifications or abilities we suspected. Should
the target&rsquo;s management not possess the skills, qualifications or abilities necessary to manage a public company, the operations
and profitability of the post-combination business may be negatively impacted. Accordingly, any stockholders who choose to remain
stockholders following the initial business combination could suffer a reduction in the value of their shares. Such stockholders
are unlikely to have a remedy for such reduction in value.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our officers and directors are not required
to, and will not, commit their full time to our affairs, which may result in a conflict of interest in allocating their time between
our operations and our search for an initial business combination and their other businesses. We do not intend to have any full-time
employees prior to the completion of our initial business combination. Each of our officers is engaged in other business endeavors
for which he may be entitled to substantial compensation and our officers are not obligated to contribute any specific number
of hours per week to our affairs. Our independent directors may also serve as officers or board members for other entities. If
our officers&rsquo; and directors&rsquo; other business affairs require them to devote substantial amounts of time to such affairs
in excess of their current commitment levels, it could limit their ability to devote time to our affairs which may have a negative
impact on our ability to complete our initial business combination. For a complete discussion of our officers&rsquo; and directors&rsquo;
other business affairs, please see the section of this prospectus entitled &ldquo;Management &mdash; Directors and Officers.&rdquo;</P>

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

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

<!-- Field: Page; Sequence: 44 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->40<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Following the completion of this offering
and until we consummate our initial business combination, we intend to engage in the business of identifying and combining with
one or more businesses. Our sponsor and officers and directors are, and may in the future become, affiliated with entities (such
as operating companies or investment vehicles) that are engaged in a similar business, and our officers and directors may become
an officer or director of another special purpose acquisition company with a class of securities intended to be registered under
the Exchange Act even before we have entered into a definitive agreement regarding our initial business combination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our officers and directors also may become
aware of business opportunities which may be appropriate for presentation to us and the other entities to which they owe certain
fiduciary or contractual duties.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Accordingly, they may have conflicts of
interest in determining to which entity a particular business opportunity should be presented. These conflicts may not be resolved
in our favor and a potential target business may be presented to another entity prior to its presentation to us. Our amended and
restated certificate of incorporation will provide that we renounce our interest in any corporate opportunity offered to any director
or officer unless such opportunity is expressly offered to such person solely in his or her capacity as a director or officer
of our company and such opportunity is one we are legally and contractually permitted to undertake and would otherwise be reasonable
for us to pursue, and to the extent the director or officer is permitted to refer that opportunity to us without violating another
legal obligation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">For a complete discussion of our officers&rsquo;
and directors&rsquo; business affiliations and the potential conflicts of interest that you should be aware of, please see the
sections of this prospectus entitled &ldquo;Management &mdash; Directors and Officers,&rdquo; &ldquo;Management &mdash; Conflicts
of Interest&rdquo; and &ldquo;Certain Relationships and Related Party Transactions.&rdquo;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We have not adopted a policy that expressly
prohibits our directors, officers, security holders or affiliates from having a direct or indirect pecuniary or financial interest
in any investment to be acquired or disposed of by us or in any transaction to which we are a party or have an interest. In fact,
we may enter into an initial business combination with a target business that is affiliated with our sponsor, our directors or
officers, although we do not intend to do so. We do not have a policy that expressly prohibits any such persons from engaging
for their own account in business activities of the types conducted by us. Accordingly, such persons or entities may have a conflict
between their interests and ours.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>We may engage in an initial business combination with one
or more target businesses that have relationships with entities that may be affiliated with our sponsor, officers, directors or
existing holders which may raise potential conflicts of interest.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In light of the involvement of our sponsor,
officers and directors with other entities, we may decide to acquire one or more businesses affiliated with our sponsor, officers
or directors. Our directors also serve as officers and board members for other entities, including, without limitation, those
described under the section of this prospectus entitled &ldquo;Management &mdash; Conflicts of Interest.&rdquo; Such entities
may compete with us for business combination opportunities. Our sponsor, officers and directors are not currently aware of any
specific opportunities for us to complete our initial business combination with any entities with which they are affiliated, and
there have been no preliminary discussions concerning an initial 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 an initial business combination as set forth in the section
of this prospectus entitled &ldquo;Proposed Business &mdash; Selection of a Target Business and Structuring of our Initial Business
Combination&rdquo; and such transaction was approved by a majority of our disinterested directors. Despite our agreement to obtain
an opinion from an independent investment banking firm or from another independent entity that commonly renders valuation opinions,
regarding the fairness to our stockholders from a financial point of view of an initial business combination with one or more
businesses affiliated with our officers, directors or existing holders, potential conflicts of interest still may exist and, as
a result, the terms of the initial 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 Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



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

<!-- Field: Page; Sequence: 45 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->41<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In July 2020, our sponsor purchased 3,593,750
founder shares for an aggregate purchase price of $25,000, or approximately $0.007 per share. The number of founder shares issued
was determined based on the expectation that such founder shares would represent 20% of the outstanding shares after this offering.
The founder shares will be worthless if we do not complete an initial business combination. In addition, our sponsor has committed
to purchase an aggregate of 4,250,000 private placement warrants (or 4,625,000 private placement warrants if the over-allotment
option is exercised in full) at a price of $1.00 per warrant ($4,250,000 in the aggregate, or $4,625,000 if the over-allotment
option is exercised in full), that will also be worthless if we do not complete an initial business combination. Holders of founder
shares have agreed (A) to vote any shares owned by them in favor of any proposed initial business combination and (B) not to redeem
any founder shares in connection with a stockholder vote to approve a proposed initial business combination. In addition, we may
obtain loans from our sponsor, affiliates of our sponsor or an officer or director. The personal and financial interests of our
officers and directors may influence their motivation in identifying and selecting a target business combination, completing an
initial business combination and influencing the operation of the business following the initial business combination.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Although we have no commitments as of the
date of this prospectus to issue any notes or other debt securities, or to otherwise incur outstanding debt following this offering,
we may choose to incur substantial debt to complete our initial business combination. We have agreed that we will not incur any
indebtedness unless we have obtained from the lender a waiver of any right, title, interest or claim of any kind in or to the
monies held in the trust account. As such, no issuance of debt will affect the per-share amount available for redemption from
the trust account. Nevertheless, the incurrence of debt could have a variety of negative effects, including:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">default
                                         and foreclosure on our assets if our operating revenues after an initial business combination
                                         are insufficient to repay our debt obligations;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">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;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">our immediate
                                         payment of all principal and accrued interest, if any, if the debt security is payable
                                         on demand;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">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;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">our inability
                                         to pay dividends on our common stock;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">using
                                         a substantial portion of our cash flow to pay principal and interest on our debt, which
                                         will reduce the funds available for dividends on our common stock if declared, our ability
                                         to pay expenses, make capital expenditures and acquisitions, and fund other general corporate
                                         purposes;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">limitations
                                         on our flexibility in planning for and reacting to changes in our business and in the
                                         industry in which we operate;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"></P>

<!-- Field: Page; Sequence: 46 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->42<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">increased
                                         vulnerability to adverse changes in general economic, industry and competitive conditions
                                         and adverse changes in government regulation;</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">limitations
                                         on our ability to borrow additional amounts for expenses, capital expenditures, acquisitions,
                                         debt service requirements, and execution of our strategy; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">other
                                         disadvantages compared to our competitors who have less debt.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Of the net proceeds from this offering and
the sale of the private placement warrants, $125,000,000 (or $143,750,000 if the underwriters&rsquo; over-allotment option is
exercised in full) will be available to complete our initial business combination and pay related fees and expenses (which includes
up to $4,375,000, or up to $5,031,250 if the over-allotment option is exercised in full, for the payment of deferred underwriting
commissions).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We may effectuate our initial business combination
with a single target business or multiple target businesses simultaneously or within a short period of time. However, we may not
be able to effectuate our initial business combination with more than one target business because of various factors, including
the existence of complex accounting issues and the requirement that we prepare and file pro forma financial statements with the
SEC that present operating results and the financial condition of several target businesses as if they had been operated on a
combined basis. By completing our initial business combination with only a single entity, our lack of diversification may subject
us to numerous economic, competitive and regulatory 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. In addition, we intend to focus
our search for an initial business combination in a single industry. Accordingly, the prospects for our success may be:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">solely
                                         dependent upon the performance of a single business, property or asset, or</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">dependent
                                         upon the development or market acceptance of a single or limited number of products,
                                         processes or services.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">This lack of diversification may subject
us to numerous economic, competitive and regulatory risks, any or all of which may have a substantial adverse impact upon the
particular industry in which we may operate subsequent to our initial business combination.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">If we determine to simultaneously acquire
several businesses that are owned by different sellers, we will need for each of such sellers to agree that our purchase of its
business is contingent on the simultaneous closings of the other business combinations, which may make it more difficult for us,
and delay our ability, to complete our initial business combination. We do not, however, intend to purchase multiple businesses
in unrelated industries in conjunction with our initial business combination. With multiple business combinations, we could also
face additional risks, including additional burdens and costs with respect to possible multiple negotiations and due diligence
investigations (if there are multiple sellers) and the additional risks associated with the subsequent assimilation of the operations
and services or products of the acquired companies in a single operating business. If we are unable to adequately address these
risks, it could negatively impact our profitability and results of operations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>We may attempt to
complete our initial business combination with a private company about which little information is available, which may result
in an initial business combination with a company that is not as profitable as we suspected, if at all.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In pursuing our initial business combination
strategy, we may seek to effectuate our initial business combination with a privately held company. Very little public information
generally exists about private companies, and we could be required to make our decision on whether to pursue a potential initial
business combination on the basis of limited information, which may result in an initial business combination with a company that
is not as profitable as we suspected, if at all.</P>

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

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

<!-- Field: Page; Sequence: 47 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->43<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Our management may not be able to maintain control of a
target business after our initial business combination.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We may structure an initial business combination
so that the post-transaction company in which our public stockholders own shares will own less than 100% of the equity interests
or assets of a target business, but we will only complete such business combination if the post-transaction company owns or acquires
50% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient
for us not to be required to register as an investment company under the Investment Company Act. We will not consider any transaction
that does not meet such criteria. Even if the post-transaction company owns 50% or more of the voting securities of the target,
our stockholders prior to the initial 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 initial business combination. For example, we could pursue
a transaction in which we issue a substantial number of new shares of Class A common stock in exchange for all of the outstanding
capital stock of a target. In this case, we would acquire a 100% interest in the target. However, as a result of the issuance
of a substantial number of new shares of common stock, our stockholders immediately prior to such transaction could own less than
a majority of our outstanding shares of common stock subsequent to such transaction. In addition, other minority stockholders
may subsequently combine their holdings resulting in a single person or group obtaining a larger share of the company&rsquo;s
stock than we initially acquired. Accordingly, this may make it more likely that our management will not be able to maintain our
control of the target business. New management may not possess the skills, qualifications or abilities necessary to profitably
operate such business.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>We do not have a specified maximum redemption threshold.
The absence of such a redemption threshold may make it possible for us to complete an initial business combination with which
a substantial majority of our stockholders do not agree.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our amended and restated certificate of
incorporation will not provide a specified maximum redemption threshold, except that in no event will we redeem our public shares
unless our net tangible assets are at least $5,000,001 either immediately prior to or upon consummation of our initial business
combination and after payment of underwriters&rsquo; fees and commissions (such 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. As a result, we may be able to complete our initial business combination even though a substantial
majority of our public stockholders do not agree with the transaction and have redeemed their shares or, if we seek stockholder
approval of our initial business combination and do not conduct redemptions in connection with our initial business combination
pursuant to the tender offer rules, have entered into privately negotiated agreements to sell their shares to our sponsor, officers,
directors, advisors or their affiliates. In the event the aggregate cash consideration we would be required to pay for all shares
of Class A common stock that are validly submitted for redemption plus any amount required to satisfy cash conditions pursuant
to the terms of the proposed initial business combination exceed the aggregate amount of cash available to us, we will not complete
the initial business combination or redeem any shares, all shares of Class A common stock submitted for redemption will be returned
to the holders thereof, and we instead may search for an alternate business combination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>In order to effectuate an initial business combination,
blank check companies have, in the recent past, amended various provisions of their charters and other governing instruments,
including their warrant agreements. We cannot assure you that we will not seek to amend our amended and restated certificate of
incorporation or governing instruments in a manner that will make it easier for us to complete our initial business combination
that our stockholders may not support.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In order to effectuate an initial business
combination, blank check companies have, in the recent past, amended various provisions of their charters and modified governing
instruments, including their warrant agreements. For example, blank check companies have amended the definition of business combination,
increased redemption thresholds and extended the time to consummate an initial business combination and, with respect to their
warrants, amended their warrant agreements to require the warrants to be exchanged for cash and/or other securities. To the extent
we seek to amend our organizational documents in a way that would be deemed to fundamentally change the nature of any securities
offered through this registration statement, we would register, or seek an exemption from registration for, the affected securities.
We cannot assure you that we will not seek to amend our charter or governing instruments or extend the time to consummate an initial
business combination in order to effectuate our initial business combination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 48 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->44<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>The provisions of our amended and restated certificate of
incorporation that relate to our pre-business combination activity (and corresponding provisions of the agreement governing the
release of funds from our trust account), may be amended with the approval of holders of 65% of our common stock, which is a lower
amendment threshold than that of some other blank check companies. It may be easier for us, therefore, to amend our amended and
restated certificate of incorporation and the trust agreement to facilitate the completion of an initial business combination
that some of our stockholders may not support.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our amended and restated certificate of
incorporation will provide that any of its provisions related to pre-initial business combination activity (including the requirement
to deposit proceeds of this offering and the private placement of warrants into the trust account and not release such amounts
except in specified circumstances, and to provide redemption rights to public stockholders as described herein and including to
permit us to withdraw funds from the trust account such that the per share amount investors will receive upon any redemption or
liquidation is substantially reduced or eliminated) may be amended if approved by holders of 65% of our common stock entitled
to vote thereon, and corresponding provisions of the trust agreement governing the release of funds from our trust account may
be amended if approved by holders of 65% of our common stock entitled to vote thereon. In all other instances, our amended and
restated certificate of incorporation may be amended by holders of a majority of our outstanding common stock entitled to vote
thereon, subject to applicable provisions of the DGCL or applicable stock exchange rules. We may not issue additional securities
that can vote on amendments to our amended and restated certificate of incorporation. Our initial stockholders, who will collectively
beneficially own up to 20% of our common stock upon the closing of this offering (assuming they do not purchase any units in this
offering), will participate in any vote to amend our amended and restated certificate of incorporation and/or trust agreement
and will have the discretion to vote in any manner they choose. As a result, we may be able to amend the provisions of our amended
and restated certificate of incorporation which govern our pre-initial business combination behavior more easily than some other
blank check companies, and this may increase our ability to complete an initial business combination with which you do not agree.
Our stockholders may pursue remedies against us for any breach of our amended and restated certificate of incorporation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our sponsor, officers and directors have
agreed, pursuant to a written agreement with us, that they will not propose any amendment to our amended and restated certificate
of incorporation (i) to modify the substance or timing of our obligation to redeem 100% of our public shares on a business combination
if we do not complete our initial business combination within 24 months from the closing of this offering or (ii) with respect
to any other provision relating to stockholders&rsquo; rights or pre-initial business combination activity, unless we provide
our public stockholders with the opportunity to redeem their shares of Class A 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, divided by the number
of then outstanding public shares. These agreements are contained in a letter agreement that we have entered into with our sponsor,
officers and directors. Our stockholders are not parties to, or third-party beneficiaries of, these agreements and, as a result,
will not have the ability to pursue remedies against our sponsor, officers or directors for any breach of these agreements. As
a result, in the event of a breach, our stockholders would need to pursue a stockholder derivative action, subject to applicable
law.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We have not selected any specific business
combination target but intend to target businesses larger than we could acquire with the net proceeds of this offering and the
sale of the private placement warrants. As a result, we may be required to seek additional financing to complete such proposed
initial business combination. We cannot assure you that such financing will be available on acceptable terms, if at all. To the
extent that additional financing proves to be unavailable when needed to complete our initial business combination, we would be
compelled to either restructure the transaction or abandon that particular business combination and seek an alternative target
business candidate. Further, the amount of additional financing we may be required to obtain could increase as a result of future
growth capital needs for any particular transaction, the depletion of the available net proceeds in search of a target business,
the obligation to repurchase for cash a significant number of shares from stockholders who elect redemption in connection with
our initial business combination and/or the terms of negotiated transactions to purchase shares in connection with our initial
business combination. If we are unable to complete our initial business combination, our public stockholders may receive only
approximately $10.00 per share plus any pro rata interest earned on the funds held in the trust account and not previously released
to us to pay our taxes on the liquidation of our trust account and our warrants will expire worthless. In addition, even if we
do not need additional financing to complete our initial business combination, we may require such financing to fund the operations
or growth of the target business. The failure to secure additional financing could have a material adverse effect on the continued
development or growth of the target business. None of our officers, directors or stockholders is required to provide any financing
to us in connection with or after our initial business combination. If we are unable to complete our initial business combination,
our public stockholders may only receive approximately $10.00 per share on the liquidation of our trust account, and our warrants
will expire worthless. Furthermore, as described in the risk factor entitled &ldquo;If third parties bring claims against us,
the proceeds held in the trust account could be reduced and the per-share redemption amount received by stockholders may be less
than $10.00 per share,&rdquo; under certain circumstances our public stockholders may receive less than $10.00 per share upon
the liquidation of the trust account.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 49 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->45<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Our initial stockholders may exert a substantial influence
on actions requiring a stockholder vote, potentially in a manner that you do not support.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Upon the closing of this offering, our initial
stockholders will own shares representing 20% of our issued and outstanding shares of common stock (assuming they do not purchase
any units in this offering). Accordingly, they may exert a substantial influence on actions requiring a stockholder vote, potentially
in a manner that you do not support, including amendments to our amended and restated certificate of incorporation and approval
of major corporate transactions. If our initial stockholders purchase any units in this offering or if our initial stockholders
purchase any additional shares of common stock in the aftermarket or in privately negotiated transactions, this would increase
their control. Factors that would be considered in making such additional purchases would include consideration of the current
trading price of our Class A common stock. In addition, our board of directors, whose members were elected by our initial stockholders,
is and will be divided into three classes, each of which will generally serve for a term of three years with only one class of
directors being elected in each year. We may not hold an annual meeting of stockholders to elect new directors prior to the completion
of our initial business combination, in which case all of the current directors will continue in office until at least the completion
of the initial business combination. If there is an annual meeting, as a consequence of our &ldquo;staggered&rdquo; board of directors,
only a minority of the board of directors will be considered for election and our initial stockholders, because of their ownership
position, will have considerable influence regarding the outcome. Accordingly, our initial stockholders will continue to exert
control at least until the completion of our initial business combination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Our sponsor paid an aggregate of $25,000, or approximately
$0.007 per founder share, and, accordingly, you will experience immediate and substantial dilution from the purchase of our Class
B common stock. </B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The difference between the public offering
price per share (allocating all of the unit purchase price to the Class A common stock and none to the warrant included in the
unit) and the pro forma net tangible book value per share of our Class A common stock after this offering constitutes the dilution
to you and the other investors in this offering. Our sponsor acquired the founder shares at a nominal price, significantly contributing
to this dilution. Upon the closing of this offering, and assuming no value is ascribed to the warrants included in the units,
you and the other public stockholders will incur an immediate and substantial dilution of approximately 87.4% (or $8.74 per share,
assuming no exercise of the underwriters&rsquo; over-allotment option), the difference between the pro forma net tangible book
value per share of $1.26 and the initial offering price of $10.00 per unit. In addition, because of the anti-dilution rights of
the founder shares, any equity or equity-linked securities issued or deemed issued in connection with our initial business combination
would be disproportionately dilutive to our Class A common stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Unlike many other similarly structured blank check companies,
our initial stockholders will receive additional shares of Class A common stock if we issue shares to consummate an initial business
combination.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The founder shares will automatically convert
into Class A common stock at the time of our initial business combination, on a one-for-one basis, subject to adjustment as provided
herein. In the case that additional shares of Class A common stock, or equity-linked securities convertible or exercisable for
Class A common stock, are issued or deemed issued in excess of the amounts offered in this prospectus and related to the closing
of the initial business combination, the ratio at which founder shares shall convert into Class A common stock will be adjusted
so that the number of shares of Class A common stock issuable upon conversion of all founder shares will equal, in the aggregate,
on an as-converted basis, 20% of the total number of all outstanding shares of common stock upon completion of the initial business
combination, excluding any shares or equity-linked securities issued, or to be issued, to any seller in the business combination
and any private placement-equivalent warrants issued to our sponsor or its affiliates upon conversion of loans made to us. This
is different from most other similarly structured blank check companies in which the initial stockholder will only be issued an
aggregate of 20% of the total number of shares to be outstanding prior to the initial business combination. Additionally, the
aforementioned adjustment will not take into account any shares of Class A common stock redeemed in connection with the business
combination. Accordingly, the holders of the founder shares could receive additional shares of Class A common stock even if the
additional shares of Class A common stock, or equity-linked securities convertible or exercisable for Class A common stock, are
issued or deemed issued solely to replace those shares that were redeemed in connection with the business combination. The foregoing
may make it more difficult and expensive for us to consummate an initial business combination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 50 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->46<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>We may amend the terms of the warrants in a manner that
may be adverse to holders of public warrants with the approval by the holders of at least a majority of the then outstanding public
warrants. As a result, the exercise price of your warrants could be increased, the exercise period could be shortened and the
number of shares of our Class A common stock purchasable upon exercise of a warrant could be decreased, all without your approval.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our warrants will be issued in registered
form under a warrant agreement between Continental Stock Transfer&nbsp;&amp; Trust Company, as warrant agent, and us. The warrant
agreement provides that the terms of the warrants may be amended without the consent of any holder to cure any ambiguity or correct
any mistake, including to conform the provisions of the warrant agreement to the description of the terms of the warrants and
the warrant agreement set forth in this prospectus, or correct any defective provision, but requires the approval by the holders
of at least a majority of the then outstanding public warrants to make any change that adversely affects the interests of the
registered holders of public warrants. Accordingly, we may amend the terms of the public warrants in a manner adverse to a holder
if holders of at least a majority of the then outstanding public warrants approve of such amendment. Although our ability to amend
the terms of the public warrants with the consent of at least a majority of the then outstanding public warrants is unlimited,
examples of such amendments could be amendments to, among other things, increase the exercise price of the warrants, convert the
warrants into cash or stock, shorten the exercise period or decrease the number of shares of our Class A common stock purchasable
upon exercise of a warrant.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>We may redeem your unexpired warrants prior to their exercise
at a time that is disadvantageous to you, thereby making your warrants worthless.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We have the ability to redeem outstanding
warrants at any time after they become exercisable and prior to their expiration, at a price of $0.01 per warrant, provided that
the last reported sales price of our Class A common stock equals or exceeds $18.00 per share (as adjusted for stock splits, stock
dividends, reorganizations, recapitalizations and the like) for any 20 trading days within a 30 trading-day period ending on the
third trading day prior to the date on which we give proper notice of such redemption and provided certain other conditions are
met. If and when the warrants become redeemable by us, we may not exercise our redemption right if the issuance of shares of common
stock upon exercise of the warrants is not exempt from registration or qualification under applicable state blue sky laws or we
are unable to effect such registration or qualification. We will use our best efforts to register or qualify such shares of common
stock under the blue sky laws of the state of residence in those states in which the warrants were offered by us in this offering.
Redemption of the outstanding warrants could force you (i) to exercise your warrants and pay the exercise price therefor at a
time when it may be disadvantageous for you to do so, (ii) to sell your warrants at the then-current market price when you might
otherwise wish to hold your warrants or (iii) to accept the nominal redemption price which, at the time the outstanding warrants
are called for redemption, is likely to be substantially less than the market value of your warrants. None of the private placement
warrants will be redeemable by us so long as they are held by the sponsor or its permitted transferees.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 51 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->47<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"><B>Our warrants and founder shares may have
an adverse effect on the market price of our Class A common stock and make it more difficult to effectuate our initial business
combination.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We will be issuing warrants to purchase
6,250,000 shares of our Class A common stock (or to purchase up to 7,187,500 shares of Class A common stock if the underwriters&rsquo;
over-allotment option is exercised in full) as part of the units offered by this prospectus and, simultaneously with the closing
of this offering, we will be issuing in a private placement warrants to purchase an aggregate of 4,250,000 shares (or 4,625,000
shares if the over-allotment option is exercised in full) of Class A common stock at $11.50 per share. Our initial stockholders
currently own an aggregate of 3,593,750 founder shares. The founder shares are convertible into shares of Class A common stock
on a one-for-one basis, subject to adjustment as set forth herein. In addition, if our sponsor makes any working capital loans,
up to $1,500,000 of such loans may be converted into warrants, at the price of $1.00 per warrant at the option of the lender.
Such warrants would be identical to the private placement warrants, including as to exercise price, exercisability and exercise
period.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">To the extent we issue shares of Class A
common stock to effectuate an initial business combination, the potential for the issuance of a substantial number of additional
shares of Class A common stock upon exercise of these warrants and conversion rights could make us a less attractive business
combination vehicle to a target business. Any such issuance will increase the number of issued and outstanding shares of our Class
A common stock and reduce the value of the shares of Class A common stock issued to complete the initial business combination.
Therefore, our warrants and founder shares may make it more difficult to effectuate an initial business combination or increase
the cost of acquiring the target business.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The private placement warrants are identical
to the warrants sold as part of the units in this offering except that, so long as they are held by our sponsor or its permitted
transferees, (i) they will not be redeemable by us, (ii)&nbsp;they (including the Class A common stock issuable upon exercise
of these warrants) may not, subject to certain limited exceptions, be transferred, assigned or sold by our sponsor until 30 days
after the completion of our initial business combination and (iii) they may be exercised by the holders on a cashless basis.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Each unit contains one-half of one redeemable
warrant. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Accordingly, unless
you purchase at least two units, you will not be able to receive or trade a whole warrant. This is different from other offerings
similar to ours whose units include one share of common stock and one warrant to purchase one whole share. We have established
the components of the units in this way in order to reduce the dilutive effect of the warrants upon completion of an initial business
combination since the warrants will be exercisable in the aggregate for one half of the number of shares compared to units that
each contain a warrant to purchase one whole share, thus making us, we believe, a more attractive merger partner for target businesses.
Nevertheless, this unit structure may cause our units to be worth less than if they included a warrant to purchase one whole share.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Unlike most blank check companies, if</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">(i)</TD><TD STYLE="text-align: justify">we issue
                                         additional shares of Class A common stock or equity-linked securities for capital raising
                                         purposes in connection with the closing of our initial business combination at a Newly
                                         Issued Price of less than $9.20 per share;</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: left">(ii)</TD><TD STYLE="text-align: justify">the aggregate gross proceeds from such issuances
                                         represent more than 60% of the total equity proceeds, and interest thereon, available
                                         for the funding of our initial business combination on the date of the consummation of
                                         our initial business combination (net of redemptions), and</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: left">(iii)</TD><TD STYLE="text-align: justify">the Market Value is below $9.20 per share,</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">then the exercise price of the warrants
will be adjusted to be equal to 115% of the greater of the Market Value and the Newly Issued Price, and the $18.00 per share redemption
trigger price will be adjusted (to the nearest cent) to be equal to 180% of the greater of the Market Value and the Newly Issued
Price. This may make it more difficult for us to consummate an initial business combination with a target business.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 52 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->48<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Prior to this offering there has been no
public market for any of our securities. The public offering price of the units and the terms of the warrants were negotiated
between us and the underwriters. In determining the size of this offering, management held customary organizational meetings with
representatives of the underwriters, both prior to our inception and thereafter, with respect to the state of capital markets,
generally, and the amount the underwriters believed they reasonably could raise on our behalf. Factors considered in determining
the size of this offering, prices and terms of the units, including the Class A common stock and warrants underlying the units,
include:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">the history
                                         and prospects of companies whose principal business is the acquisition of other companies;</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: left">&bull;</TD><TD STYLE="text-align: justify">prior offerings of those companies;</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: left">&bull;</TD><TD STYLE="text-align: justify">our prospects for acquiring an operating
                                         business;</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: left">&bull;</TD><TD STYLE="text-align: justify">a review of debt to equity ratios in leveraged
                                         transactions;</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: left">&bull;</TD><TD STYLE="text-align: justify">our capital structure;</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: left">&bull;</TD><TD STYLE="text-align: justify">an assessment of our management and their
                                         experience in identifying operating companies;</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: left">&bull;</TD><TD STYLE="text-align: justify">general conditions of the securities markets
                                         at the time of this offering; and</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: left">&bull;</TD><TD STYLE="text-align: justify">other factors as were deemed relevant.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Although these factors were considered,
the determination of our offering price is more arbitrary than the pricing of securities of an operating company in a particular
industry since we have no historical operations or financial results.</P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The federal proxy rules require that a proxy
statement with respect to a vote on an initial business combination meeting certain financial significance tests include historical
and/or pro forma financial statement disclosure in periodic reports. We will include the same financial statement disclosure in
connection with our tender offer documents, whether or not they are required under the tender offer rules. These financial statements
may be required to be prepared in accordance with, or be reconciled to, accounting principles generally accepted in the United
States of America, or GAAP, or international financial reporting standards as issued by the International Accounting Standards
Board, or IFRS, depending on the circumstances and the historical financial statements may be required to be audited in accordance
with the standards of the Public Company Accounting Oversight Board (United States), or PCAOB. These financial statement requirements
may limit the pool of potential target businesses we may acquire because some targets may be unable to provide such financial
statements in time for us to disclose such statements in accordance with federal proxy rules and complete our initial business
combination within the prescribed time frame.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 53 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->49<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We are an &ldquo;emerging growth company&rdquo;
within the meaning of the Securities Act, as modified by the JOBS Act, and we 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 our periodic reports and proxy statements, and exemptions from the
requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute
payments not previously approved. As a result, our stockholders may not have access to certain information they may deem important.
We could be an emerging growth company for up to five years, although circumstances could cause us to lose that status earlier,
including if the market value of our Class A common stock held by non-affiliates exceeds $700 million as of any June 30 before
that time, in which case we would no longer be an emerging growth company as of the following December 31. We cannot predict whether
investors will find our securities less attractive because we will rely on these exemptions. If some investors find our securities
less attractive as a result of our reliance on these exemptions, the trading prices of our securities may be lower than they otherwise
would be, there may be a less active trading market for our securities and the trading prices of our securities may be more volatile.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Further, Section 102(b)(1) of the JOBS Act
exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private
companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class
of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards.
The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that
apply to non-emerging growth companies but any such an election to opt out is irrevocable. We have elected not to opt out of such
extended transition period, which means that when a standard is issued or revised and it has different application dates for public
or private companies, we, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt
the new or revised standard. This may make comparison of our financial statements with another public company which is neither
an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult
or impossible because of the potential differences in accounting standards used.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Additionally, we are a &ldquo;smaller reporting
company&rdquo; as defined in Rule 10(f)(1) of Regulation S-K. Smaller reporting companies may take advantage of certain reduced
disclosure obligations, including, among other things, providing only two years of audited financial statements. We will remain
a smaller reporting company until the last day of the fiscal year in which (1) the market value of our common stock held by non-affiliates
exceeds $250 million as of the prior June 30th, or (2) our annual revenues exceed $100 million during such completed fiscal year
and the market value of our common stock held by non-affiliates exceeds $700 million as of the prior June 30th. To the extent
we take advantage of such reduced disclosure obligations, it may also make comparison of our financial statements with other public
companies difficult or impossible.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 54 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->50<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Compliance obligations under the Sarbanes-Oxley Act may
make it more difficult for us to effectuate our initial business combination, require substantial financial and management resources,
and increase the time and costs of completing an initial business combination.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Section 404 of the Sarbanes-Oxley Act requires
that we evaluate and report on our system of internal controls beginning with our Annual Report on Form 10-K for the year ending
December 31, 2021. Only in the event we are deemed to be a large accelerated filer or an accelerated filer, and no longer qualify
as an emerging growth company, will we be required to comply with the independent registered public accounting firm attestation
requirement on our internal control over financial reporting. Further, for as long as we remain an emerging growth company, we
will not be required to comply with the independent registered public accounting firm attestation requirement on our internal
control over financial reporting. The fact that we are a blank check company makes compliance with the requirements of the Sarbanes-Oxley
Act particularly burdensome on us as compared to other public companies because a target company with which we seek to complete
our initial business combination may not be in compliance with the provisions of the Sarbanes-Oxley Act regarding adequacy of
its internal controls. The development of the internal control of any such entity to achieve compliance with the Sarbanes-Oxley
Act may increase the time and costs necessary to complete any such business combination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Provisions in our amended and restated certificate of incorporation
and Delaware law may inhibit a takeover of us, which could limit the price investors might be willing to pay in the future for
our Class A common stock and could entrench management.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our amended and restated certificate of
incorporation will contain provisions that may discourage unsolicited takeover proposals that stockholders may consider to be
in their best interests. These provisions include a staggered board of directors and the ability of the board of directors to
designate the terms of and issue new series of preferred shares, which may make the removal of management more difficult and may
discourage transactions that otherwise could involve payment of a premium over prevailing market prices for our securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">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 the removal of management
more difficult and may discourage transactions that otherwise could involve payment of a premium over prevailing market prices
for our securities.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Our amended and restated certificate of incorporation will
require, to the fullest extent permitted by law, that derivative actions brought in our name, actions against our directors, officers,
other employees or stockholders for breach of fiduciary duty and certain other actions may be brought only in the Court of Chancery
in the State of Delaware and, if brought outside of Delaware, the stockholder bringing the suit will, subject to certain exceptions,
be deemed to have consented to service of process on such stockholder&rsquo;s counsel, which may have the effect of discouraging
lawsuits against our directors, officers, other employees or stockholders.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our amended and restated certificate of
incorporation will require, to the fullest extent permitted by law, that (i)&nbsp;any derivative action or proceeding brought
on our behalf, (ii)&nbsp;any action asserting a claim of breach of a fiduciary duty owed by any director, officer or other employee
to us or our stockholders, (iii)&nbsp;any action asserting a claim against us, our directors, officers or employees arising pursuant
to any provision of the DGCL or our amended and restated certificate of incorporation or bylaws, or (iv)&nbsp;any action asserting
a claim against us, our directors, officers or employees governed by the internal affairs doctrine may be brought only in the
Court of Chancery in the State of Delaware and, if brought outside of Delaware, the stockholder bringing the suit will be deemed
to have consented to service of process on such stockholder&rsquo;s counsel except any action (A) as to which the Court of Chancery
in the State of Delaware determines that there is an indispensable party not subject to the jurisdiction of the Court of Chancery
(and the indispensable party does not consent to the personal jurisdiction of the Court of Chancery within ten days following
such determination), (B) which is vested in the exclusive jurisdiction of a court or forum other than the Court of Chancery or
(C) for which the Court of Chancery does not have subject matter jurisdiction. Any person or entity purchasing or otherwise acquiring
any interest in shares of our capital stock shall be deemed to have notice of and consented to the forum provisions in our amended
and restated certificate of incorporation. This choice of forum provision may limit or make more costly a stockholder&rsquo;s
ability to bring a claim in a judicial forum that it finds favorable for disputes with us or any of our directors, officers, other
employees or stockholders, which may discourage lawsuits with respect to such claims. Alternatively, if a court were to find the
choice of forum provision contained in our amended and restated certificate of incorporation to be inapplicable or unenforceable
in an action, we may incur additional costs associated with resolving such action in other jurisdictions, which could harm our
business, operating results and financial condition.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 55 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->51<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Notwithstanding the foregoing, our amended
and restated certificate of incorporation will provide that the exclusive forum provision will be applicable to the fullest extent
permitted by applicable law, subject to certain exceptions. Section 27 of the Exchange Act creates exclusive federal jurisdiction
over all suits brought to enforce any duty or liability created by the Exchange Act or the rules and regulations thereunder. As
a result, the exclusive forum provision will not apply to suits brought to enforce any duty or liability created by the Exchange
Act or any other claim for which the federal courts have exclusive jurisdiction.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Additionally, unless we consent in writing
to the selection of an alternative forum, the federal courts shall be the exclusive forum for the resolution of any complaint
asserting a cause of action arising under the Securities Act against us or any of our directors, officers, other employees or
agents. Section 22 of the Securities Act, however, created concurrent jurisdiction for federal and state courts over all suits
brought to enforce any duty or liability created by the Securities Act or the rules and regulations thereunder. Accordingly, there
is uncertainty as to whether a court would enforce such provisions, and the enforceability of similar choice of forum provisions
in other companies&rsquo; charter documents has been challenged in legal proceedings. While the Delaware courts have determined
that such exclusive forum provisions are facially valid, a stockholder may nevertheless seek to bring a claim in a venue other
than those designated in the exclusive forum provisions, and there can be no assurance that such provisions will be enforced by
a court in those other jurisdictions. Any person or entity purchasing or otherwise acquiring any interest in our securities shall
be deemed to have notice of an consented to these provisions; however, we note that investors cannot waive compliance with the
federal securities laws and the rules and regulations thereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Although we believe this provision benefits
us by providing increased consistency in the application of Delaware law in the types of lawsuits to which it applies, the provision
may limit our stockholders&rsquo; ability to obtain a favorable judicial forum for disputed with us and may have the effect of
discouraging lawsuits against our directors and officers.</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Investments in post-restructured equities are subject to
various risks</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Business combinations with post-restructured
entities 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:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">investments
                                         in such companies are speculative, prices are volatile, and market movements are difficult
                                         to predict; </FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">supply
                                         and demand for distressed securities change rapidly and are affected by a variety of
                                         market factors over which we have no control and which may reduce the pool of profitable
                                         investment opportunities; </FONT></TD></TR></TABLE>

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

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 56 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->52<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">our
                                         ability to identify undervalued investment opportunities that fit our business strategy
                                         involves a high degree of uncertainty, and no assurance can be given that we will be
                                         able to identify such opportunities; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">such
                                         investments may take a substantial period of time before realizing their anticipated
                                         value and returns generated from such investments may not adequately compensate for the
                                         business and financial risks assumed; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">there
                                         is no guarantee that we will be able to achieve our investment objectives or provide
                                         any return on invested capital. </FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">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 post-restructured entities. Accordingly, if we acquire a target business that is not a post-restructured entity,
it is possible that these specific risks would not affect us in the same manner, but we would be subject to other risks attendant
with the specific industry in which we operate or target business which we acquire, none of which can be presently ascertained.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">If we effect our initial business combination
with a company with operations or opportunities outside of the United States, we would be subject to any special considerations
or risks associated with companies operating in an international setting, including any of the following:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">higher
                                         costs and difficulties inherent in managing cross-border business operations and complying
                                         with different commercial and legal requirements of overseas markets;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">rules
                                         and regulations regarding currency redemption;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">complex
                                         corporate withholding taxes on individuals;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">laws
                                         governing the manner in which future business combinations may be effected;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">tariffs
                                         and trade barriers;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">regulations
                                         related to customs and import/export matters;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">longer
                                         payment cycles and challenges in collecting accounts receivable;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">tax issues,
                                         including but not limited to tax law changes and variations in tax laws as compared to
                                         the United States;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">currency
                                         fluctuations and exchange controls;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">rates
                                         of inflation;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">cultural
                                         and language differences;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">employment
                                         regulations;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">changes
                                         in industry, regulatory or environmental standards within the jurisdictions where we
                                         operate;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">crime,
                                         strikes, riots, civil disturbances, terrorist attacks, natural disasters and wars;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">deterioration
                                         of political relations with the United States; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">government
                                         appropriations of assets.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We may not be able to adequately address
these additional risks. If we were unable to do so, our operations might suffer, which may adversely impact our results of operations
and financial condition.</P>

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

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

<!-- Field: Page; Sequence: 57 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->53<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Certain statements in this prospectus may
constitute &ldquo;forward-looking statements&rdquo; for purposes of the federal securities laws. Our forward-looking statements
include, but are not limited to, statements regarding our or our management team&rsquo;s expectations, hopes, beliefs, intentions
or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations
of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words &ldquo;anticipate,&rdquo;
 &ldquo;believe,&rdquo; &ldquo;continue,&rdquo; &ldquo;could,&rdquo; &ldquo;estimate,&rdquo; &ldquo;expect,&rdquo; &ldquo;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:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">our ability
                                         to select an appropriate target business or businesses;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">our ability
                                         to complete our initial business combination, particularly in light of disruption that
                                         may result from limitations imposed by the COVID-19 outbreak;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">our expectations
                                         around the performance of the prospective target business or businesses;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">our success
                                         in retaining or recruiting, or changes required in, our officers, key employees or directors
                                         following our initial business combination;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">our officers
                                         and directors allocating their time to other businesses and potentially having conflicts
                                         of interest with our business or in approving our initial business combination, as a
                                         result of which they would then receive expense reimbursements;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">our potential
                                         ability to obtain additional financing to complete our initial business combination;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">our pool
                                         of prospective target businesses;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">the ability
                                         of our officers and directors to generate a number of potential acquisition opportunities;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">our public
                                         securities&rsquo; potential liquidity and trading;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">the lack
                                         of a market for our securities;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">the use
                                         of proceeds not held in the trust account</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">the trust
                                         account not being subject to claims of third parties; or</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">our financial
                                         performance following this offering.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The forward-looking statements contained
in this prospectus are based on our current expectations and beliefs concerning future developments and their potential effects
on us. There can be no assurance that future developments affecting us will be those that we have anticipated. These forward-looking
statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause
actual results or performance to be materially different from those expressed or implied by these forward-looking statements.
These risks and uncertainties include, but are not limited to, those factors described under the section of this prospectus entitled
 &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 Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

<!-- Field: Page; Sequence: 58 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->54<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We are offering 12,500,000 units at an offering
price of $10.00 per unit. We estimate that the net proceeds of this offering together with the funds we will receive from the
sale of the private placement warrants will be used as set forth in the following table.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&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="white-space: nowrap; font-size: 10pt">&nbsp;</TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Without
    <BR> Over-Allotment <BR> Option</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Over-Allotment
    <BR> Option <BR> Exercised</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt">Gross
    proceeds</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 74%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt">Gross
    proceeds from units offered to public</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">125,000,000</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">143,750,000</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt">Gross
    proceeds from private placement warrants offered in the private placement</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">4,250,000</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">4,625,000</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt">Total gross
    proceeds</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">129,250,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">148,375,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: italic 10pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Offering
    expenses<SUP>(1)</SUP></I></FONT></TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Underwriting
    commissions (2% of gross proceeds from units offered to public, excluding deferred portion)<SUP>(2)</SUP></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">2,500,000</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">2,875,000</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt">Legal fees
    and expenses</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">225,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">225,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt">Accounting
    fees and expenses</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">40,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">40,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt">SEC/FINRA Expenses</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">38,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">38,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt">Travel and
    road show</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">20,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">20,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt">Nasdaq listing
    and filing fees</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">75,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">75,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt">Director and
    Officer liability insurance premiums</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">125,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">125,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt">Printing and
    engraving expenses</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">40,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">40,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Miscellaneous<SUP>(3)</SUP></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">187,000</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">187,000</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt">Total offering
    expenses (other than underwriting commissions)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">750,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">750,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt">Proceeds
    after offering expenses</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">126,000,000</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">144,750,000</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt">Held in trust
    account</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">125,000,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">143,750,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt">% of public
    offering size</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">100</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">100</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt; text-indent: -10pt; padding-left: 10pt">Not
    held in trust account</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">1,000,000</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">1,000,000</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The following table shows the use of the
approximately $1,000,000 of net proceeds not held in the trust account<SUP>(3)</SUP>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&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-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Amount</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">%
    of Total</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 74%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt">Due
    diligence (excluding accounting and legal due diligence) of prospective target(s)</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">200,000</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">20.0</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt">Legal and accounting
    expenses attendant to the due diligence investigations, structuring and negotiations of an initial business transaction</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">100,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">10.0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt">Legal and accounting
    related to regulatory reporting requirements</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">150,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">15.0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt">Payment for
    office space, utilities and secretarial and administrative support</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">240,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">24.0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt">Other
    miscellaneous expenses, listing fees and liquidation reserves</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">310,000</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">31.0</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt">Total</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">1,000,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">100.0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
</TABLE>

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

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

<!-- Field: Page; Sequence: 59 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->55<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(1)</TD><TD STYLE="text-align: left">A portion
                                         of the offering expenses have been paid from the proceeds of loans from our sponsor of
                                         up to $300,000 as described in this prospectus. As of August 17, 2020, we borrowed $60,266
                                         under the promissory note with our sponsor. These loans will be repaid upon completion
                                         of this offering out of the proceeds that have been allocated for the payment of offering
                                         expenses (other than underwriting commissions) and amounts not to be held in the trust
                                         account. In the event that offering expenses are less than as set forth in this table,
                                         any such amounts will be used for post-closing working capital expenses. In the event
                                         that the offering expenses are more than as set forth in this table, we may fund such
                                         excess with funds not held in the trust account.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(2)</TD><TD STYLE="text-align: left">The underwriters
                                         have agreed to defer underwriting commissions equal to 3.5% of the gross proceeds of
                                         this offering. Upon completion of our initial business combination, $4,375,000 (or $5,031,250
                                         if the over-allotment option is exercised in full), which constitutes the underwriters&rsquo;
                                         deferred commissions will be paid to the underwriters from the funds held in the trust
                                         account, and the remaining funds, less amounts released by the trustee to pay redeeming
                                         shareholders, will be released to us and can be used to pay all or a portion of the purchase
                                         price of the business or businesses with which our initial business combination occurs
                                         or for general corporate purposes, including payment of principal or interest on indebtedness
                                         incurred in connection with our initial business combination, to fund the purchases of
                                         other companies or for working capital. The underwriters will not be entitled to any
                                         interest accrued on the deferred underwriting discounts and commissions.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(3)</TD><TD STYLE="text-align: left">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 such business combination.
                                         In the event we identify an initial business combination target in a specific industry
                                         subject to specific regulations, we may incur additional expenses associated with legal
                                         due diligence and the engagement of special legal counsel. In addition, our staffing
                                         needs may vary and as a result, we may engage a number of consultants to assist with
                                         legal and financial due diligence. We do not anticipate any change in our intended use
                                         of proceeds, other than fluctuations among the current categories of allocated expenses,
                                         which fluctuations, to the extent they exceed current estimates for any specific category
                                         of expenses, would not be available for our expenses.</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Of the net proceeds of this offering and
the sale of the private placement warrants, $125,000,000 (or $143,750,000 if the underwriters&rsquo; over-allotment option is
exercised in full), including $4,375,000 (or $5,031,250 if the over-allotment option is exercised in full) of deferred underwriting
commissions, will be placed in a trust account in the United&nbsp;States at J.P. Morgan Chase Bank, N.A., with Continental Stock
Transfer&nbsp;&amp; Trust Company acting as trustee, and will be invested only in U.S. government treasury bills with a maturity
of 185&nbsp;days or less or in money market funds meeting certain conditions under Rule&nbsp;2a-7 under the Investment Company
Act which invest only in direct U.S. government treasury obligations. We estimate that the interest earned on the trust account
will be approximately $625,000 per year, assuming an interest rate of 0.5% per year; however, we can provide no assurance regarding
this amount. Except with respect to interest earned on the funds held in the trust account that may be released to us to pay our
tax obligations (and the up to $100,000 of interest which may be released to us pay dissolution expenses if we are unable to complete
our initial business combination), the proceeds from this offering and the sale of the private placement warrants will not be
released from the trust account until the earliest to occur of: (a)&nbsp;the completion of our initial business combination, (b)&nbsp;the
redemption of any public shares properly submitted in connection with a stockholder vote to amend our amended and restated certificate
of incorporation (A)&nbsp;to modify the substance or timing of our obligation to redeem 100% of our public shares if we do not
complete our initial business combination within 24 months from the closing of this offering or (B)&nbsp;with respect to any other
provision relating to stockholders&rsquo; rights or pre-initial business combination activity, and (c)&nbsp;the redemption of
our public shares if we are unable to complete our initial business combination within 24 months from the closing of this offering,
subject to applicable law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The net proceeds held in the trust account
may be used as consideration to pay the sellers of a target business with which we ultimately complete our initial business combination.
If our initial business combination is paid for using equity or debt securities, or not all of the funds released from the trust
account are used for payment of the consideration in connection with our initial business combination, we may apply the balance
of the cash released from the trust account for general corporate purposes, including for maintenance or expansion of operations
of the post-transaction company, the payment of principal or interest due on indebtedness incurred in completing our initial business
combination, to fund the purchase of other companies or for working capital. There is no limitation on our ability to raise funds
privately or through loans in connection with our initial business combination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 60 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->56<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We believe that amounts not held in trust
will be sufficient to pay the costs and expenses to which such proceeds are allocated. This belief is based on the fact that while
we may begin preliminary due diligence of a target business in connection with an indication of interest, we intend to undertake
in-depth due diligence, depending on the circumstances of the relevant prospective business combination, only after we have negotiated
and signed a letter of intent or other preliminary agreement that addresses the terms of an initial business combination. However,
if our estimate of the costs of undertaking in-depth due diligence and negotiating an 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. If we are required to seek additional capital, we could seek such additional capital through loans
or additional investments from our sponsor, members of our management team or their affiliates, but such persons are not under
any obligation to advance funds to, or invest in, us.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Commencing on the date of this prospectus,
we have agreed to pay our sponsor a total of $10,000 per month for office space, utilities and secretarial and administrative
support. Upon completion of our initial business combination or our liquidation, we will cease paying these monthly fees. Prior
to the closing of this offering, our sponsor has agreed to loan us up to $300,000 to be used for a portion of the expenses of
this offering As of August 17, 2020, we borrowed $60,266 under the promissory note with our sponsor to be used for a portion of
the expenses of this offering. These loans are non-interest bearing, unsecured and are due at the earlier of March&nbsp;31, 2021
or the closing of this offering. The loan will be repaid upon the closing of this offering out of offering proceeds not held in
the trust account.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In addition, in order to finance transaction
costs in connection with an intended initial business combination, our sponsor or an affiliate of our sponsor or certain of our
officers and directors may, but are not obligated to, loan us funds as may be required. If we complete our initial business combination,
we would repay such loaned amounts out of the proceeds of the trust account released to us. Otherwise, such loans would be repaid
only out of funds held outside the trust account. In the event that our initial business combination does not close, we may use
a portion of the working capital held outside the trust account to repay such loaned amounts but no proceeds from our trust account
would be used to repay such loaned amounts. Up to $1,500,000 of such loans may be convertible into warrants, at a price of $1.00
per warrant at the option of the lender. The warrants would be identical to the private placement warrants, including as to exercise
price, exercisability and exercise period. The terms of such loans by our officers and directors, if any, have not been determined
and no written agreements exist with respect to such loans. We do not expect to seek loans from parties other than our sponsor
or an affiliate of our sponsor as we do not believe third parties will be willing to loan such funds and provide a waiver against
any and all rights to seek access to funds in our trust account.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Any of the foregoing payments to our sponsor,
repayments of loans from our sponsor or repayments of working capital loans prior to our initial business combination will be
made using funds held outside the trust account.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">If we seek stockholder approval of our initial
business combination and we do not conduct redemptions in connection with our initial business combination pursuant to the tender
offer rules, our sponsor, initial stockholders, directors, officers, advisors or their affiliates may purchase shares or public
warrants in privately negotiated transactions or in the open market either prior to or following the completion of our initial
business combination. There is no limit on the number of shares our initial stockholders, directors, officers, advisors or their
affiliates may purchase in such transactions, subject to compliance with applicable law and Nasdaq rules. 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. If they engage in such transactions, they will not make any such purchases when they are in possession of any
material nonpublic information not disclosed to the seller or if such purchases are prohibited by Regulation M under the Exchange
Act. 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. Any such purchases will be reported pursuant to Section&nbsp;13 and Section&nbsp;16 of the Exchange Act to the
extent such purchasers are subject to such reporting requirements. None of the funds held in the trust account will be used to
purchase shares or public warrants in such transactions prior to completion of our initial business combination. See &ldquo;Proposed
Business&nbsp;&mdash; Permitted purchases of our securities&rdquo; for a description of how our sponsor, initial stockholders,
directors, officers, advisors or any of their affiliates will select which stockholders to purchase securities from in any private
transaction.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 61 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->57<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The purpose of any such purchases of shares
could be to vote such shares in favor of the initial business combination and thereby increase the likelihood of obtaining stockholder
approval of the initial business combination or to satisfy a closing condition in an agreement with a target that requires us
to have a minimum net worth or a certain amount of cash at the closing of our initial business combination, where it appears that
such requirement would otherwise not be met. The purpose of any such purchases of public warrants could be to reduce the number
of public warrants outstanding or to vote such warrants on any matters submitted to the warrantholders for approval in connection
with our initial business combination. Any such purchases of our securities may result in the completion of our initial business
combination that may not otherwise have been possible. In addition, if such purchases are made, the public &ldquo;float&rdquo;
of our shares of Class&nbsp;A common stock or warrants 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.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In no event will we redeem our public shares
unless our net tangible assets are at least $5,000,001 either immediately prior to or upon consummation of our initial business
combination and after payment of underwriters&rsquo; fees and commissions (so that we are not subject to the SEC&rsquo;s &ldquo;penny
stock&rdquo; rules) and the agreement for our initial business combination may require as a closing condition that we have a minimum
net worth or a certain amount of cash. If too many public stockholders exercise their redemption rights so that we cannot satisfy
the net tangible asset requirement or any net worth or cash requirements, we would not proceed with the redemption of our public
shares or the initial business combination, and instead may search for an alternate business combination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">A public stockholder will be entitled to
receive funds from the trust account only upon the earliest to occur of: (i)&nbsp;our completion of an initial business combination,
(ii)&nbsp;the redemption of any public shares properly submitted in connection with a stockholder vote to amend our amended and
restated certificate of incorporation (A)&nbsp;to modify the substance or timing of our obligation to redeem 100% of our public
shares if we do not complete our initial business combination within 24 months from the closing of this offering or (B)&nbsp;with
respect to any other provision relating to stockholders&rsquo; rights or pre-initial business combination activity, and (iii)&nbsp;the
redemption of our public shares if we are unable to complete our initial business combination within 18 months following the closing
of this offering, subject to applicable law and as further described herein and any limitations (including but not limited to
cash requirements) created by the terms of the proposed initial 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 Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our sponsor, officers and directors have
entered into a letter agreement with us, pursuant to which they have agreed to waive their redemption rights with respect to any
founder shares and any public shares held by them in connection with the completion of our initial business combination. In addition,
our initial stockholders have agreed to waive their rights to liquidating distributions from the trust account with respect to
any founder shares held by them if we fail to complete our initial business combination within the prescribed time frame. However,
if our sponsor or any of our officers, directors or affiliates acquires public shares in or after this offering, they will be
entitled to liquidating distributions from the trust account with respect to such public shares if we fail to complete our initial
business combination within the prescribed time frame.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 62 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->58<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We have not paid any cash dividends on our
common stock to date and do not intend to pay cash dividends prior to the completion of our initial business combination. The
payment of cash dividends in the future will be dependent upon our revenues and earnings, if any, capital requirements and general
financial condition subsequent to completion of our initial business combination. If we increase or decrease the size of the offering
we will effect a stock dividend or a share contribution back to capital or other appropriate mechanism, as applicable, with respect
to our Class&nbsp;B common stock immediately prior to the consummation of the offering in such amount as to maintain the ownership
of our initial stockholders at 20.0% of the issued and outstanding shares of our common stock upon the consummation of 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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

<!-- Field: Page; Sequence: 63 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->59<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The difference between the public offering
price per share of Class&nbsp;A common stock, assuming no value is attributed to the warrants included in the units we are offering
pursuant to this prospectus or the private placement warrants, and the pro forma net tangible book value per share of our Class&nbsp;A
common stock after this offering constitutes the dilution to investors in this offering. Such calculation does not reflect any
dilution associated with the sale and exercise of warrants, including the private placement warrants, which would cause the actual
dilution to the public stockholders to be higher, particularly where a cashless exercise is utilized. Net tangible book value
per share is determined by dividing our net tangible book value, which is our total tangible assets less total liabilities (including
the value of Class&nbsp;A common stock which may be redeemed for cash), by the number of outstanding shares of our Class&nbsp;A
common stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">At August 17, 2020, our net tangible book
deficit was $35,266, or approximately $(0.01) per share of common stock. After giving effect to the sale of 12,500,000 shares
of Class&nbsp;A common stock included in the units we are offering by this prospectus (or 14,375,000 shares of Class&nbsp;A common
stock if the underwriters&rsquo; over-allotment option is exercised in full), the sale of the private placement warrants and the
deduction of underwriting commissions and estimated expenses of this offering, our pro forma net tangible book value at August
17, 2020 would have been $5,000,004, or approximately $1.26 per share (or $1.11 per share if the underwriters&rsquo; over-allotment
option is exercised in full), representing an immediate increase in net tangible book value (as decreased by the value of the
approximately 11,664,723 shares of Class&nbsp;A common stock that may be redeemed for cash, or 13,474,098 shares of Class&nbsp;A
common stock if the underwriters&rsquo; over-allotment option is exercised in full) of $1.27 per share (or $1.12 per share if
the underwriters&rsquo; over-allotment option is exercised in full) to our initial stockholders as of the date of this prospectus
and dilution to public stockholders from this offering will be $8.74 per share (or $8.89 if the underwriters&rsquo; over-allotment
option is exercised in full). The number of shares that may be redeemed may exceed the 11,664,723 share amount (or 13,474,098
shares if the underwriters&rsquo; over-allotment option is exercised in full) so long as it would not cause our net tangible assets
to be less than $5,000,001 either immediately prior to or upon consummation of our initial business combination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The following table illustrates the dilution
to the public stockholders on a per-share basis, assuming no value is attributed to the warrants included in the units or the
private placement warrants:</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="white-space: nowrap; font-size: 10pt">&nbsp;</TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">No
    exercise of <BR> over-allotment <BR> option</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Exercise
    of <BR> over-allotment <BR> option in full</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 74%; font: 10pt Times New Roman, Times, Serif">Public offering price</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">10.00</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">10.00</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Net tangible book value before this offering</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(0.01</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(0.01</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Increase attributable to new investors
    and private sales</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1.27</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1.12</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Pro forma net tangible book value
    after this offering</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1.26</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1.11</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Dilution to new investors</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">8.74</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">8.89</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Percentage of dilution to new
    investors</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">87.40</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">88.90</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">For purposes of presentation, we have reduced
our pro forma net tangible book value after this offering (assuming no exercise of the underwriters&rsquo; over-allotment option)
by $116,647,230 because holders of up to approximately 93.3% of our public shares may redeem their shares for a pro rata share
of the aggregate amount then on deposit in the trust account at a per share redemption price equal to the amount in the trust
account as set forth in our tender offer or proxy materials (initially anticipated to be the aggregate amount held in trust two
days prior to the commencement of our tender offer or stockholders meeting, including interest earned on the funds held in the
trust account and not previously released to us to pay our taxes), divided by the number of shares of Class&nbsp;A common stock
sold in this offering.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 64 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->60<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The following table sets forth information
with respect to our initial stockholders and the public stockholders:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&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-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Shares
    Purchased</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Total
    Consideration</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Average Price</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Number</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Percentage</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Amount</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Percentage</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><B>Per Share</B></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 35%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Initial
    Stockholders<SUP>(1)</SUP></FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">3,125,000</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">20.0</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">25,000</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">0.02</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">0.008</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Public Stockholders</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">12,500,000</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">80.0</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">125,000,000</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">99.98</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">10.00</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">15,625,000</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">100.0</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">125,025,000</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">100.00</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>


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


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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in; text-align: left">(1)</TD><TD STYLE="text-align: left">Assumes no
                                         exercise of the underwriters&rsquo; over-allotment option and the corresponding forfeiture
                                         of an aggregate of 468,750 shares of Class&nbsp;B common stock held by our sponsor.</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The pro forma net tangible book value per
share after the offering is calculated as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&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="white-space: nowrap; font-size: 10pt">&nbsp;</TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Without
    <BR> Over-allotment</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">With
    <BR> Over-allotment</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 74%; font: 10pt Times New Roman, Times, Serif; text-align: left">Net tangible book value before this offer</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">(35,266</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">(35,266</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proceeds
    from this offering and the sale of the private placement warrants, net of expenses<SUP>(1)</SUP></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">126,000,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">144,750,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Offering costs excluded from the net tangible book
    value before this offering</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">57,500</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">57,500</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Less: deferred underwriters&rsquo; commissions payable</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(4,375,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(5,031,25</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Less:
    amount of Class&nbsp;A common stock subject to redemption to maintain net tangible assets of $5,000,001<SUP>(2)</SUP></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(116,647,230</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(134,740,980.00</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">5,000,004</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">5,000,004</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Denominator:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Shares of Class&nbsp;B common stock outstanding prior
    to this offering</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">3,593,750</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">3,593,750</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Shares of Class&nbsp;B common stock forfeited if over-allotment
    is not exercised</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(468,750</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">--</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Shares of Class&nbsp;A common stock included in the
    units offering</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">12,500,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">14,375,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Less: shares of Class&nbsp;A common
    stock subject to redemption</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(11,664,723</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(13,474,098</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">3,960,277</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">4,494,652</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
</TABLE>

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


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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in; text-align: left">(1)</TD><TD STYLE="text-align: left">Expenses applied
                                         against gross proceeds include offering expenses of $750,000 and underwriting commissions
                                         of $2,500,000 (excluding deferred underwriting fees). See &ldquo;Use of Proceeds.&rdquo;</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in; text-align: left">(2)</TD><TD STYLE="text-align: left">If we seek
                                         stockholder approval of our initial business combination and we do not conduct redemptions
                                         in connection with our initial business combination pursuant to the tender offer rules,
                                         our sponsor, initial stockholders, directors, executive officers, advisors or their affiliates
                                         may purchase shares or public warrants in privately negotiated transactions or in the
                                         open market either prior to or following the completion of our initial business combination.
                                         In the event of any such purchases of our shares prior to the completion of our initial
                                         business combination, the number of shares of Class&nbsp;A common stock subject to redemption
                                         will be reduced by the amount of any such purchases, increasing the pro forma net tangible
                                         book value per share. See &ldquo;Proposed Business&nbsp;&mdash; Effecting Our Initial
                                         Business Combination&nbsp;&mdash; Permitted Purchases of Our Securities.&rdquo;</TD>
</TR></TABLE>

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

<!-- Field: Page; Sequence: 65 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->61<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The following table sets forth our capitalization
at August 17, 2020, and as adjusted to give effect to the sale of our units in this offering and the sale of the private placement
warrants and the application of the estimated net proceeds derived from the sale of such securities, assuming no exercise by the
underwriters of its over-allotment option:</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-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">August
    17, 2020</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Actual</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>As
    Adjusted<SUP>(1)</SUP></B></FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 74%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt">Deferred
    underwriting commission</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">--</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">4,375,000</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Promissory
    note to affiliate<SUP>(2)</SUP></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">60,266</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class&nbsp;A
    common stock, 11,664,723 shares subject to redemption<SUP>(3)</SUP></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">116,647,230</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt">Stockholders&rsquo;
    equity (deficit):</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt">Preferred stock,
    $0.0001 par value, 1,000,000 shares authorized (actual and as adjusted); none issued or outstanding (actual and as adjusted)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt">Class&nbsp;A
    common stock, $0.0001 par value, 100,000,000 shares authorized (actual and as adjusted); none issued or outstanding (actual)
    and 835,277 shares issued and outstanding (excluding 11,664,723 shares subject to redemption) as adjusted)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">84</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class&nbsp;B
    common stock, $0.0001 par value, 10,000,000 shares authorized (actual and as adjusted); 3,593,750 shares issued and outstanding
    (actual); 3,125,000 shares issued and outstanding (as adjusted)<SUP>(4)</SUP></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">359</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">313</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt">Additional
    paid-in-capital</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">24,641</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">5,002,374</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt">Accumulated
    deficit</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(2,766</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(2,766</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 20pt">Total
    Stockholders&rsquo; equity:</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">22,234</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">5,000,004</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt; text-indent: -10pt; padding-left: 20pt">Total
    capitalization</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">82,500</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">126,022,234</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
</TABLE>

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


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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in; text-align: left">(1)</TD><TD STYLE="text-align: left">Assumes the
                                         over-allotment option has not been exercised and the resulting forfeiture of 468,750
                                         founder shares held by the sponsor has occurred.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in; text-align: left">(2)</TD><TD STYLE="text-align: left">Our sponsor
                                         has agreed to loan us up to $300,000 to be used for a portion of the expenses of this
                                         offering. As of August 17, 2020, we borrowed $60,266 under the promissory note with our
                                         sponsor to be used for a portion of the expenses of this offering.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in; text-align: left">(3)</TD><TD STYLE="text-align: left">Upon completion
                                         of our initial business combination, we will provide our stockholders with the opportunity
                                         to redeem their public shares for cash equal to their pro rata share of the aggregate
                                         amount then on deposit in the trust account as of two business days prior to the consummation
                                         of the initial business combination including interest earned on the funds held in the
                                         trust account and not previously released to us to pay our taxes, subject to the limitations
                                         described herein whereby our net tangible assets will be maintained at a minimum of $5,000,001
                                         and any limitations (including, but not limited to, cash requirements) created by the
                                         terms of the proposed business combination. The number of shares that may be redeemed
                                         may exceed this number so long as our net tangible assets are at least $5,000,001 either
                                         immediately prior to or upon consummation of our initial business combination.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in; text-align: left">(4)</TD><TD STYLE="text-align: left">Actual share
                                         amount is prior to any forfeiture of founder shares by our sponsor and as adjusted amount
                                         assumes no exercise of the underwriters&rsquo; over-allotment option.</TD>
</TR></TABLE>

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

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

<!-- Field: Page; Sequence: 66 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->62<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="management"></A><B>MANAGEMENT&rsquo;S
DISCUSSION AND ANALYSIS OF<BR>
FINANCIAL CONDITION AND RESULTS OF OPERATIONS</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We are a blank check company incorporated
as a Delaware corporation and formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase,
reorganization or similar business combination with one or more businesses. We have not selected any specific business combination
target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any
business combination target. We intend to effectuate our initial business combination using cash from the proceeds of this offering
and the private placement of the private placement warrants, the proceeds of the sale of our shares in connection with our initial
business combination (pursuant to forward purchase agreements or backstop agreements we may enter into following the consummation
of this offering or otherwise), shares issued to the owners of the target, debt issued to bank or other lenders or the owners
of the target, or a combination of the foregoing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The issuance of additional shares in connection
with an initial business combination to the owners of the target or other investors:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">may significantly
                                         dilute the equity interest of investors in this offering, which dilution would increase
                                         if the anti-dilution provisions in the Class&nbsp;B common stock resulted in the issuance
                                         of Class&nbsp;A shares on a greater than one-to-one basis upon conversion of the Class&nbsp;B
                                         common stock;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">may subordinate
                                         the rights of holders of our common stock if preferred stock is issued with rights senior
                                         to those afforded our common stock;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">could
                                         cause a change in control if a substantial number of shares of our common stock is issued,
                                         which may affect, among other things, our ability to use our net operating loss carry
                                         forwards, if any, and could result in the resignation or removal of our present officers
                                         and directors;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">may have
                                         the effect of delaying or preventing a change of control of us by diluting the stock
                                         ownership or voting rights of a person seeking to obtain control of us; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">may adversely
                                         affect prevailing market prices for our Class&nbsp;A common stock and/or warrants.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Similarly, if we issue debt securities or
otherwise incur significant debt to bank or other lenders or the owners of a target, it could result in:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">default
                                         and foreclosure on our assets if our operating revenues after an initial business combination
                                         are insufficient to repay our debt obligations;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">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;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">our immediate
                                         payment of all principal and accrued interest, if any, if the debt security is payable
                                         on demand;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">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;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">our inability
                                         to pay dividends on our common stock;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">using
                                         a substantial portion of our cash flow to pay principal and interest on our debt, which
                                         will reduce the funds available for dividends on our common stock if declared, our ability
                                         to pay expenses, make capital expenditures and acquisitions, and fund other general corporate
                                         purposes;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">limitations
                                         on our flexibility in planning for and reacting to changes in our business and in the
                                         industry in which we operate;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">increased
                                         vulnerability to adverse changes in general economic, industry and competitive conditions
                                         and adverse changes in government regulation;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"></P>

<!-- Field: Page; Sequence: 67 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->63<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">limitations
                                         on our ability to borrow additional amounts for expenses, capital expenditures, acquisitions,
                                         debt service requirements, and execution of our strategy; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">other
                                         purposes and other disadvantages compared to our competitors who have less debt.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">As indicated in the accompanying financial
statements, at August 17, 2020, we had $25,000 in cash and deferred offering costs of $57,500. Further, we expect to continue
to incur significant costs in the pursuit of our initial business combination plans. We cannot assure you that our plans to raise
capital or to complete our initial business combination will be successful.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Results of Operations and Known Trends or Future Events</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">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 expenses as
we conduct due diligence on prospective business combination candidates. We expect our expenses to increase substantially after
the closing of this offering.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Liquidity and Capital Resources</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">As indicated in the accompanying financial
statements, at August 17, 2020, we had $25,000 in cash and a working capital deficit of $35,266. Further, we have incurred and
expect to continue to incur significant costs in pursuit of our financing and acquisition plans. 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. Management&rsquo;s plans to address this uncertainty through
this offering are discussed above.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our liquidity needs have been satisfied
prior to completion of this offering through receipt of $25,000 from the sale of the founder shares to our sponsor and up to $300,000
in loans from our sponsor under an unsecured promissory note. As of August 17, 2020, we had borrowed $60,266 under the unsecured
promissory note. We estimate that the net proceeds from (i)&nbsp;the sale of the units in this offering, after deducting offering
expenses of approximately $750,000 and underwriting commissions of $2,500,000, or $2,875,000 if the over-allotment option is exercised
in full) (excluding deferred underwriting commissions of $4,375,000 (or up to $5,031,250 if the underwriters&rsquo; over-allotment
option is exercised in full)), and (ii)&nbsp;the sale of the private placement warrants for a purchase price of $4,250,000, (or
$4,625,000 if the over-allotment option is exercised in full) will be $126,000,000 (or $144,750,000 if the underwriters&rsquo;
over-allotment option is exercised in full). Of this amount, $125,000,000 or $143,750,000 if the underwriters&rsquo; over-allotment
option is exercised in full, including $4,375,000 (or up to $5,031,250 if the underwriters&rsquo; over-allotment option is exercised
in full) in deferred underwriting commissions) will be deposited into a trust account. The funds in the trust account will be
invested only in specified U.S. government treasury bills or in specified money market funds. The remaining $1,000,000 will not
be held in the trust account. In the event that our offering expenses exceed our estimate of $750,000 we may fund such excess
with funds not to be held in the trust account. In such case, the amount of funds we intend to be held outside the trust account
would decrease by a corresponding amount. Conversely, in the event that the offering expenses are less than our estimate of $750,000,
the amount of funds we intend to be held outside the trust account would increase by a corresponding amount.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We intend to use substantially all of the
funds held in the trust account, including any amounts representing interest earned on the trust account (less deferred underwriting
commissions) to complete our initial business combination. We may withdraw interest to pay taxes. We estimate our annual franchise
tax obligations, based on the number of shares of our common stock authorized and outstanding after the completion of this offering,
to be $200,000, which is the maximum amount of annual franchise taxes payable by us as a Delaware corporation per annum, which
we may pay from funds from this offering held outside of the trust account or from interest earned on the funds held in our trust
account and released to us for this purpose. Our annual income tax obligations will depend on the amount of interest and other
income earned on the amounts held in the trust account. We expect the interest earned on the amount in the trust account will
be sufficient to pay our income taxes. To the extent that our capital stock or debt is used, in whole or in part, as consideration
to complete our initial business combination, the remaining proceeds held in the trust account will be used as working capital
to finance the operations of the target business or businesses, make other acquisitions and pursue our growth strategies.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 68 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->64<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Prior to the completion of our initial business
combination, we will have available to us the approximately $1,000,000 of proceeds held outside the trust account. We will use
these funds to identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel
to and from the offices, plants or similar locations of prospective target businesses or their representatives or owners, review
corporate documents and material agreements of prospective target businesses, and structure, negotiate and complete an initial
business combination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In order to fund working capital deficiencies
or finance transaction costs in connection with an intended initial business combination, our sponsor or an affiliate of our sponsor
or certain of our officers and directors may, but are not obligated to, loan us funds on a non-interest basis as may be required.
If we complete our initial business combination, we would repay such loaned amounts. In the event that our initial business combination
does not close, we may use a portion of the working capital held outside the trust account to repay such loaned amounts but no
proceeds from our trust account would be used for such repayment. Up to $1,500,000 of such loans may be convertible into warrants,
at a price of $1.00 per warrant at the option of the lender. The warrants would be identical to the private placement warrants,
including as to exercise price, exercisability and exercise period. We do not expect to seek loans from parties other than our
sponsor or an affiliate of our sponsor as we do not believe third parties will be willing to loan such funds and provide a waiver
against any and all rights to seek access to funds in our trust account.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We expect our primary liquidity requirements
during that period to include approximately $300,000 for legal, accounting, due diligence expenses attendant to the due diligence
investigations, structuring and negotiations of an initial business combinations; $150,000 for legal and accounting fees related
to regulatory reporting requirements; $240,000 for office space, utilities and secretarial and administrative support; and $310,000
for other miscellaneous expenses, listing fees and liquidation reserves. These amounts are estimates and may differ materially
from our actual expenses.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">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, if our
estimates of the costs of identifying a target business, undertaking in-depth due diligence and negotiating an initial business
combination are less than the actual amount necessary to do so, we may have insufficient funds available to operate our business
prior to our initial business combination. Moreover, we may need to obtain additional financing either to complete our initial
business combination or because we become obligated to redeem a significant number of our public shares upon completion of our
initial business combination, in which case we may issue additional securities or incur debt in connection with such business
combination. In addition, we intend to target businesses larger than we could acquire with the net proceeds of this offering and
the sale of the private placement warrants, and may as a result be required to seek additional financing to complete such proposed
initial business combination. Subject to compliance with applicable securities laws, we would only complete such financing simultaneously
with the completion of our initial business combination. If we are unable to complete our initial business combination because
we do not have sufficient funds available to us, we will be forced to cease operations and liquidate the trust account. In addition,
following our initial business combination, if cash on hand is insufficient, we may need to obtain additional financing in order
to meet our obligations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">On January 30, 2020, the World Health Organization
(&ldquo;WHO&rdquo;) announced a global health emergency because of a new strain of coronavirus (the &ldquo;COVID-19 outbreak&rdquo;).
In March 2020, the WHO classified the COVID-19 outbreak as a pandemic, based on the rapid increase in exposure globally. The full
impact of the COVID-19 outbreak continues to evolve. The impact of the COVID-19 outbreak on the Company&rsquo;s results of operations,
financial position and cash flows will depend on future developments, including the duration and spread of the outbreak and related
advisories and restrictions. These developments and the impact of the COVID-19 outbreak on the financial markets and the overall
economy are highly uncertain and cannot be predicted. If the financial markets and/or the overall economy are impacted for an
extended period, our results of operations, financial position and cash flows may be materially adversely affected.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We are not currently required to maintain
an effective system of internal controls as defined by Section&nbsp;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&nbsp;31, 2021. Only in the
event that we are deemed to be a large accelerated filer or an accelerated filer would we be required to comply with the independent
registered public accounting firm attestation requirement. Further, for as long as we remain an emerging growth company as defined
in the JOBS Act, we intend to take advantage of certain exemptions from various reporting requirements that are applicable to
other public companies that are not emerging growth companies including, but not limited to, not being required to comply with
the independent registered public accounting firm attestation requirement.</P>

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

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

<!-- Field: Page; Sequence: 69 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->65<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Prior to the closing of this offering, we
have not completed an assessment, nor has our independent registered public accounting firm tested our systems, of internal controls.
We expect to assess the internal controls of our target business or businesses prior to the completion of our initial business
combination and, if necessary, to implement and test additional controls as we may determine are necessary in order to state that
we maintain an effective system of internal controls. A target business may not be in compliance with the provisions of the Sarbanes-Oxley
Act regarding the adequacy of internal controls. Many small and mid-sized target businesses we may consider for our initial business
combination may have internal controls that need improvement in areas such as:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">staffing
                                         for financial, accounting and external reporting areas, including segregation of duties;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">reconciliation
                                         of accounts;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">proper
                                         recording of expenses and liabilities in the period to which they relate;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">evidence
                                         of internal review and approval of accounting transactions;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">documentation
                                         of processes, assumptions and conclusions underlying significant estimates; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">documentation
                                         of accounting policies and procedures.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Once our management&rsquo;s report on internal
controls is complete, we will retain our independent registered public accounting firm to audit and render an opinion on such
report when required by Section&nbsp;404 of the Sarbanes-Oxley Act. The independent registered public accounting firm may identify
additional issues concerning a target business&rsquo;s internal controls while performing their audit of internal control over
financial reporting.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Quantitative and Qualitative Disclosures about Market Risk</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The net proceeds of this offering and the
sale of the private placement warrants held in the trust account will be invested in U.S. government treasury bills with a maturity
of 185&nbsp;days or less or in money market funds meeting certain conditions under Rule&nbsp;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 Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In July 2020, our sponsor purchased 3,593,750
founder shares for an aggregate purchase price of $25,000, or approximately $0.007 per share. The number of founder shares issued
was determined based on the expectation that such founder shares would represent 20% of the outstanding shares upon completion
of this offering. The per share purchase price of the founder shares was determined by dividing the amount of cash contributed
to the company by the aggregate number of founder shares issued. If we increase or decrease the size of the offering we will effect
a stock dividend or a share contribution back to capital or other appropriate mechanism, as applicable, with respect to our Class&nbsp;B
common stock immediately prior to the consummation of the offering in such amount as to maintain the ownership of our initial
stockholders at 20.0% of the issued and outstanding shares of our common stock upon the consummation of this offering.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Commencing on the date of this prospectus,
we have agreed to pay our sponsor or an affiliate of our sponsor a total of $10,000 per month for office space, utilities and
secretarial and administrative support. Upon completion of our initial business combination or our liquidation, we will cease
paying monthly fees.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our sponsor, officers and directors, or
any of their respective affiliates, will be reimbursed for any out-of-pocket expenses incurred in connection with activities on
our behalf such as identifying potential target businesses and performing due diligence on suitable business combinations. Our
audit committee will review on a quarterly basis all payments that were made to our sponsor, officers, directors or our or their
affiliates and will determine which expenses and the amount of expenses that will be reimbursed. There is no cap or ceiling on
the reimbursement of out-of-pocket expenses incurred by such persons in connection with activities on our behalf.</P>

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

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

<!-- Field: Page; Sequence: 70 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->66<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Prior to the consummation of this offering,
our sponsor has agreed to loan us up to $300,000 to be used for a portion of the expenses of this offering. As of August 17, 2020,
we borrowed $60,266 under the promissory note with our sponsor to be used for a portion of the expenses of this offering. These
loans are non-interest bearing, unsecured and are due at the earlier of March&nbsp;31, 2021 or the closing of this offering. The
loan will be repaid upon the closing of this offering out of the offering proceeds that has been allocated to the payment of offering
expenses (other than underwriting commissions).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In addition, in order to finance transaction
costs in connection with an intended initial business combination, our sponsor or an affiliate of our sponsor or certain of our
officers and directors may, but are not obligated to, loan us funds on a non-interest basis as may be required. If we complete
our initial business combination, we would repay such loaned amounts. In the event that our initial business combination does
not close, we may use a portion of the working capital held outside the trust account to repay such loaned amounts but no proceeds
from our trust account would be used for such repayment. Up to $1,500,000 of such loans may be convertible into warrants, at a
price of $1.00 per warrant at the option of the lender. Such warrants would be identical to the private placement warrants, including
as to exercise price, exercisability and exercise period. We do not expect to seek loans from parties other than our sponsor or
an affiliate of our sponsor as we do not believe third parties will be willing to loan such funds and provide a waiver against
any and all rights to seek access to funds in our trust account.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Any of the foregoing payments to our sponsor,
repayments of loans from our sponsor or repayments of working capital loans prior to our initial business combination will be
made using funds held outside the trust account.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our sponsor has committed to purchase an
aggregate of 4,250,000 private placement warrants (or 4,625,000 private placement warrants if the over-allotment option is exercised
in full) at a price of $1.00 per warrant ($4,250,000 in the aggregate, or $4,625,000 if the over-allotment option is exercised
in full)in a private placement that will occur simultaneously with the closing of this offering. Each private placement warrant
entitles the holder thereof to purchase one share of our Class&nbsp;A common stock at a price of $11.50 per share. Our sponsor
will be permitted to transfer the private placement warrants held by it to certain permitted transferees, including our officers
and directors and other persons or entities affiliated with or related to it, but the transferees receiving such securities will
be subject to the same agreements with respect to such securities as the sponsor. Otherwise, these warrants will not, subject
to certain limited exceptions, be transferable or salable until 30&nbsp;days after the completion of our initial business combination.
The private placement warrants will be non-redeemable so long as they are held by our sponsor or its permitted transferees. The
private placement warrants may also be exercised by the sponsor and its permitted transferees for cash or on a cashless basis.
Otherwise, the private placement warrants have terms and provisions that are identical to those of the warrants being sold as
part of the units in this offering, including as to exercise price, exercisability and exercise period.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Pursuant to a registration and shareholder
rights agreement we will enter into with our initial stockholders on or prior to the closing of this offering, we may be required
to register certain securities for sale under the Securities Act. These holders, and holders of warrants issued upon conversion
of working capital loans, if any, are entitled under the registration and shareholder rights agreement to make up to three demands
that we register certain of our securities held by them for sale under the Securities Act and to have the securities covered thereby
registered for resale pursuant to Rule&nbsp;415 under the Securities Act. In addition, these holders have the right to include
their securities in other registration statements filed by us. We will bear the costs and expenses of filing any such registration
statements. See the section of this prospectus entitled &ldquo;Certain Relationships and Related Party Transactions.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Off-Balance Sheet Arrangements; Commitments and Contractual
Obligations; Quarterly Results</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">As of August 17, 2020, we did not have any
off-balance sheet arrangements as defined in Item&nbsp;303(a)(4)(ii)&nbsp;of Regulation S-K and did not have any commitments or
contractual obligations. No unaudited quarterly operating data is included in this prospectus, as we have conducted no operations
to date.</P>

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

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

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

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

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

<!-- Field: Page; Sequence: 71 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->67<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Additionally, we are in the process of evaluating
the benefits of relying on the other reduced reporting requirements provided by the JOBS Act. Subject to certain conditions set
forth in the JOBS Act, if, as an &ldquo;emerging growth company&rdquo;, we choose to rely on such exemptions we may not be required
to, among other things, (i)&nbsp;provide an independent registered public accounting firm&rsquo;s attestation report on our system
of internal controls over financial reporting pursuant to Section&nbsp;404, (ii)&nbsp;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)&nbsp;comply with any requirement that may be adopted by the PCAOB regarding mandatory audit firm rotation or a supplement
to the report of independent registered public accounting firm providing additional information about the audit and the financial
statements (auditor discussion and analysis), and (iv)&nbsp;disclose certain executive compensation related items such as the
correlation between executive compensation and performance and comparisons of the CEO&rsquo;s compensation to median employee
compensation. These exemptions will apply for a period of five years following the completion of this offering or until we are
no longer an &ldquo;emerging growth company,&rdquo; whichever is earlier.</P>

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

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

<!-- Field: Page; Sequence: 72 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->68<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="proposed"></A>PROPOSED BUSINESS</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We are a newly organized blank check company
incorporated as a Delaware corporation and formed for the purpose of effecting a merger, capital stock exchange, asset acquisition,
stock purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this
prospectus as our initial business combination. We have not selected any specific business combination target and we have not,
nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination target.
While we may pursue an initial business combination target in any stage of its corporate evolution or in any industry or sector,
we intend to focus our search on companies emerging from a reorganization or distressed situation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Management Team and Affiliates</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our management team is comprised of industry
experts, whom we believe are well-positioned&nbsp;to identify and evaluate distressed businesses that would benefit from their
experience of leading investment firms. We believe our management team offers extensive experience in distressed and restructuring
transactions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Stephen C. Smith, Chairman and Chief
Executive Officer</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Stephen C. Smith, our Chairman and Chief
Executive Officer, founded SGAM, an SEC registered investment advisor and a wholly-owned subsidiary of SGH, in August 2017. Mr.
Smith currently serves as SGAM&rsquo;s Chief Executive Officer and Chairman of its Investment Committee and oversees all of SGAM&rsquo;s
investing and business activities. In April 2001, Mr. Smith co-founded The Seaport Group LLC (currently known as SGH), which is
a full-service, mid-sized independent investment bank that offers capital markets advisory, sales, trading and research services.
Prior to that, from December 1999 to March 2001, Mr. Smith was a managing director at Amroc Securities, LLC, a financial service
firm, where he focused on distressed sales and trading. In June 1991, he co-founded a distressed debt broker-dealer, Libra Investments,
Inc., which was acquired by U.S. Bancorp in January 1999. Mr. Smith began his career at Merrill Lynch in 1982 and from 1984 to
1988 he ran the taxable fixed income trading desk for its unit trust department. In addition, Mr. Smith worked as a salesperson
at S.N. Phelps &amp; Co., a financial management firm, from 1988 to 1989 and Jefferies &amp; Company, a financial services company,
from 1989 to 1991.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Michael Ring, Chief Financial Officer</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Michael Ring, our Chief Financial Officer,
has been serving as Chief Financial Officer and Chief Compliance Officer at SGAM since February 2018 and Chief Financial Officer
of Seaport Specialty Lending LLC, a specialty finance company, since August 2019. Prior to joining SGAM, he served as Chief Financial
Officer and Chief Compliance Officer at Alta Fundamental Advisers, LLC, an SEC registered investment adviser, from May 2013 to
February 2018, where he was responsible for managing all finance, compliance, and operational functions, including financial reporting,
treasury &amp; cash management, corporate finance, regulatory compliance matters and investor relations. Prior to that, Mr. Ring
worked as Chief Financial Officer and Chief Compliance Officer for Eastwind Global Partners, an asset manager company, from March
2012 to June 2013. From May 2004 to June 2012, he worked as controller, operations manager and Chief Compliance Officer at Restoration
Capital Management LLC, an SEC registered investment adviser. Prior to Restoration Capital Management, Mr. Ring worked for State
Street Bank and Sumitomo Trust and Banking in their securities lending departments, and at Scudder Kemper Investments as a fund
accountant in 1999.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Jay Burnham, our director nominee, is a
member of SGAM&rsquo;s Investment Committee and the Managing Member of Sunset Way LLC, an asset management company. Mr. Burnham
previously served as a Portfolio Manager and Managing Member of Armory Advisors, LLC, a special situations and distressed debt
asset management firm that is affiliated with SGAM. Prior to joining Armory Advisors, LLC, Mr. Burnham was a portfolio manager
at Cypress Management, LLC, an investment management firm, from May 2003 to June 2004. From November 2001 to May 2003, Mr. Burnham
was an Investment Manager at Rocker Management, LLC, an investment management company, where he was responsible for distressed
debt and equity investments in companies in a variety of industries and participated as a major creditor in the restructuring
of XM Satellite Radio. From April 1999 to November 2001, he was a founder and an investment manager at Reprise Capital Partners,
LLC, a distressed debt investment firm. From March 1996 to March 1999, Mr. Burnham was an Investment Manager at DDJ Capital Management,
LLC, an investment management company. From January 1995 to February 1996, he was an investment analyst at Libra Investments,
Inc., a distressed debt broker-dealer founded by our Chairman. From June 1990 to November 1994, he was an investment manager at
Paul D. Sonz Partners, an investment management company. Mr. Burnham has acted as a director of a number of public and private
companies in turnaround situations, including acting as a director of Live Entertainment, Inc. (Nasdaq: LVE), a film distribution
company that was acquired by Bain Capital in 1997 and became Artisan Entertainment, Inc., Bally&rsquo;s Grand, Inc. (Nasdaq: BGLV),
a gaming and entertainment company that was acquired by Bally&rsquo;s Entertainment Corp., and New Millennium Homes, LLC, a California
based homebuilding company.</P>

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

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

<!-- Field: Page; Sequence: 73 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->69<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<!-- Field: Split-Segment; Name: 3 -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Shelley
Greenhaus, Director Nominee</I></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Shelley Greenhaus our director nominee,
is the founder and President of Whippoorwill Associates, Inc., which manages investments in corporate reorganizations, liquidations
and other related activities and was founded in December 1990. Prior to that, from 1983 to 1990, he worked as a portfolio manager
at Oppenheimer &amp; Co. Inc., a full-service brokerage firm and investment bank, with responsibility for distressed investments.<FONT STYLE="color: #1F497D">&nbsp;
</FONT>From 1981 to 1983<FONT STYLE="color: #1F497D">,</FONT>&nbsp;Mr. Greenhaus became a financial analyst and portfolio manager
for the William Rosenwald Family, a family office, where he was primarily involved in analyzing and managing investments involving
corporate reorganizations, liquidations and related special situations.&nbsp;<FONT STYLE="color: #1F497D">&nbsp;</FONT>He began
his business career in 1978, working as a financial analyst at Loeb, Rhoades, Hornblower &amp; Co., a brokerage company, where
he was primarily involved in analyzing risk arbitrage opportunities and distressed securities.<FONT STYLE="color: #1F497D">&nbsp;
</FONT>From January 1999 to October 2003, Mr. Greenhaus served on the board of directors of Barneys New York, Inc. (Nasdaq: BNNY),
a fashion retailer; from October 1998 to December 2004, he served on the board of director of Marvel Enterprises, Inc. (NYSE:
MVL), a content entertainment company; and from November 1996 to December 2004, he served on the board of directors of GWI Holding,
Inc. (Garden Way), a privately held power equipment company.&nbsp;&nbsp;In October 2017, he joined the board of directors of Commercial
Furniture Group, Inc., a commercial furnishings company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><I>Jeremy Hedberg,
Director Nominee</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Mr. Jeremy Hedberg, our director nominee,
has worked as a Partner, Co-Chief Investment Officer and Co-Head of Corporate and Traded Credit at V&auml;rde Partners, Inc. (&ldquo;V&auml;rde&rdquo;),
a global alternative investment advisor currently managing $14 billion that has invested over $70 billion since inception. He
joined V&auml;rde in November 1997 and has managed V&auml;rde&rsquo;s liquid investing activities globally and led V&auml;rde&rsquo;s
significant investments in the residential mortgage sector in the U.S. He has served on a number of boards of portfolio companies
owned by the V&auml;rde funds. He has also served on many official creditors&rsquo; committees and a number of adhoc committees
to restructure companies in bankruptcy, including, but not limited to, Capmark Financial Group, Inc. a commercial finance company,
Chiquita Brands International, Inc., a global fruit and food company, and Flag Telecom Holdings Ltd, a provider of international
wholesale network services. Prior to joining V&auml;rde, Jeremy worked for Goldner Hawn Johnson &amp; Morrison, a private equity
fund specializing in middle-market leveraged buyouts, from June 1996 to October 1997. He also previously worked for Wessels, Arnold
 &amp; Henderson, a full-service investment bank specializing in high-growth companies, from May 1994 to June 1996.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><I>Charles Yamarone,
Director Nominee</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Mr. Charles Yamarone, our director nominee,
has served as the Chief Corporate Governance and Compliance Officer of Houlihan Lokey (NYSE: HLI), a global investment bank, since
January 2016, where he advises senior management on all aspects of Houlihan Lokey&rsquo;s corporate governance, compliance and
internal audit, including Houlihan Lokey&rsquo;s initial public offering in August 2015. From January 2014 to May 2015, he was
a Managing Director in Houlihan Lokey&rsquo;s capital markets group, where he had been a senior investment banker since November
2009.&nbsp; Between 1991 and 2009, Mr. Yamarone was a senior officer of Libra Securities, an institutional broker dealer, and
he was involved in all areas of Libra Securities&rsquo; business, including capital markets, corporate finance, sales and trading,
research, legal, compliance, and operations.&nbsp; From January 1996 to July 2020, Mr. Yamarone was a director of the El Paso
Electric Company (NYSE: EE), where he served as chairman of the audit committee, compensation committee and a member of the energy
and resource committee. He was the Chairman of the Board of El Paso Electric from February 2015 until July 2020. From October
2010 to June 2016, Mr. Yamarone served as a member of the board of directors, chair of the compensation committee, a member of
the executive committee and audit committee of United Continental Holdings, Inc. (NYSE: UAL).&nbsp; From February 1995 to October
2010, Mr. Yamarone served as a member of the board of directors of Continental Airlines, Inc. (NYSE: CAL), where he was chairman
of the human resources committee and a member of the corporate governance committee.&nbsp; He previously served as a director
of other companies, including Bally's Grand, Inc., (Nasdaq: BGLV), a gaming and entertainment company that was acquired by Bally&rsquo;s
Entertainment Corp., LIVE Entertainment, Inc. (Nasdaq: LVE), a film distribution company that was acquired by Bain Capital in
1997 and became Artisan Entertainment, Inc., Merry-Go-Round Enterprises, Inc. (NYSE: MGRE), a national clothing retail chain,
and Vagabond Inn Corporation, a hotel chain.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We believe our affiliation with SGAM and
SGH and the significant financial and operational restructuring expertise of our team provide us with important competitive advantages
for sourcing, pursuing and evaluating an initial business combination within our target universe.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Stephen C. Smith, our Chairman and Chief
Executive Officer, founded SGAM, an SEC registered investment advisor and an alternative investment management firm, in August
2017. SGAM focuses on distressed, special situation and event-driven securities. Its investment objective is to achieve exceptional
risk-adjusted capital appreciation through investments in various securities of companies, which are in financial and/or legal
distress or have recently emerged from financial reorganizations or lawsuits. At the core of SGAM&rsquo;s strategy is deep-rooted,
credit- and equity-based fundamental analysis, leveraging the team&rsquo;s distressed, legal, bankruptcy and financial expertise.
SGAM believes that distressed securities can often be purchased at discounts to intrinsic value given the complexities surrounding
their restructuring. SGAM complements its liquid investment strategy with illiquid investments where it has taken an active approach
to managing such investments often through participation on credit committees, liquidating trusts and board positions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 74 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->70<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Stephen C. Smith, our Chairman and Chief
Executive Officer, also founded SGH, the parent company of SGAM, in 2001. SGH is a global investment bank that has advised clients
for nearly twenty years on multi-industry distressed asset investing and capital markets advisory, sales, trading and research
services.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Past performance of our management team,
SGAM and SGH is not a guarantee either (i)&nbsp;of success with respect to any business combination we may consummate, or (ii)&nbsp;that
we will be able to identify a suitable candidate for our initial business combination. You should not rely on the historical performance
record of our management team or SGAM as indicative of our future performance. Our officers and directors have no experience with
blank check companies or special purpose acquisition companies. In addition, for a list of members of our management team and
entities for which a conflict of interest may or does exist between such persons and the company, as well as the priority that
such entity has with respect to performance of obligations and presentation of business opportunities to us, please refer to the
table and subsequent explanatory paragraph under &ldquo;Management&nbsp;&mdash; Conflicts of Interest&rdquo;.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our business strategy is to identify and
complete our initial business combination with companies emerging from a reorganization or distressed situation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The onset of COVID-19 has created an unprecedented
impact on the global economy. Certain industries may experience strain and have the ability to recover; however, others may experience
structural changes that will force companies to rethink how they conduct business. Nearly every industry is adjusting its operating
and financial paradigm to manage day-to-day business operations more effectively and safely in the current environment. Many of
these adjustments include operational and financial restructurings. The principal owners of post-restructuring companies typically
benefit from a significant reduction in liabilities, including lower financial indebtedness, employee benefit obligations, litigation
liabilities, contractual commitments and a generally lower operating cost structure. Such target companies often have underexploited
opportunities for continued growth as a result of prior under-investment. Further, based on our extensive experience, management
teams often exit restructurings with increased financial and operating discipline and with meaningful equity ownership. Given
the inefficiencies that exist in the post-reorganization market, we believe a business combination within our target universe
can be completed at a discount to its intrinsic value and publicly-traded peers.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our business combination criteria will not
be limited to a particular industry or geographic sector, however, given the experience of our management team, we intend to focus
our search on companies with an enterprise value of approximately $400 million to $1.0 billion.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We have identified the following general
criteria and guidelines that we believe are consistent with our acquisition philosophy and our management&rsquo;s experience,
and that we believe are important in evaluating prospective business combination opportunities. We intend to use these criteria
and guidelines to evaluate business combination opportunities, but we may decide to consummate our initial business combination
with a target business that does not meet one or more of these criteria and guidelines.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Financial
                                         Health. We expect to seek out companies that have financially sound balance sheets but
                                         may have been troubled previously. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Extenuating
                                         Circumstance. We believe there are many companies &ndash; across industries &ndash; that
                                         were negatively impacted by the onset of COVID-19 pandemic, have restructured their businesses,
                                         changed their original business plans, streamlined their operations and are planning
                                         for a new phase of high growth. Other factors that may contribute to our potential target
                                         companies include previously excessive leverage, challenging industry conditions, material
                                         litigation, regulatory shifts, macroeconomic events, performance disruptions, lack of
                                         management execution or any combination thereof.</FONT></TD></TR></TABLE>

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

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 75 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->71<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Leading
                                         Industry Market Position. We intend to pursue companies whose products or services have
                                         leading positions within their respective markets with sustainable competitive advantages
                                         and natural barriers to market entry.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Free
                                         Cash Flow. We will seek to acquire a company that has demonstrated or can demonstrate
                                         attractive operating margins that result in sustainable free cash flow.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Strong
                                         Management Team. We expect to seek out a company that has a management team that has
                                         a sustainable track record of managerial performance.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Favorable
                                         Industry Outlook. We will seek out target businesses that are operating in industries
                                         benefiting from unique market conditions or experiencing a favorable growth outlook.
                                         Our management team has experience investing in and operating companies across multiple
                                         industries.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Potential
                                         Acquisitions. We intend to evaluate companies that could benefit from strategic acquisitions
                                         to expand their market vertical. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Benefit
                                         from Public Company. We intend to acquire a business that can benefit from being publicly-traded
                                         and can effectively utilize broader access to capital.</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">These criteria are not intended to be exhaustive.
Any evaluation relating to the merits of a particular initial business combination may be based, to the extent relevant, on these
general guidelines as well as other considerations, factors and criteria that our management team may deem relevant. In the event
that we find an opportunity that has characteristics more compelling to us than the characteristics described above, we would
pursue such opportunity.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We intend to leverage the following sources
of competitive strength in seeking to achieve our business strategy:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
                                         distressed investing expertise of our management team, who have collectively participated
                                         in transactions with more than $100 billion of enterprise value.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 42pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Transaction
                                         expertise within our target enterprise value range.</FONT></TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Deep
                                         industry relationships that provide a substantial pipeline of acquisition opportunities,
                                         either proprietary or through affiliates.</FONT></TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
                                         expertise of our management and board of directors as fiduciaries and directors of both
                                         asset managers investing in distressed securities and the companies in which they are
                                         invested.</FONT></TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Experience
                                         structuring complex capital markets transactions involving both private and public companies.</FONT></TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our management team and professionals at
SGAM have extensive experience in identifying, investing in and partnering with operating companies that have completed a restructuring.
Over the past 20 years, since co-founding SGAM and its affiliates, Stephen C. Smith, our Chairman and Chief Executive Officer,
has been evaluating and investing in companies during the entirety of the re-organization process, including Chapter 11 bankruptcies
with notable expertise investing in post-reorganization companies. As a result, we expect to benefit from the expertise and extensive
network of contacts of both our management team and that of SGAM. The principals of SGAM and our management team have a significant
number of relationships across the restructuring industry, which includes operating executives, industry experts, investment bankers,
lawyers, consultants and advisors. We believe these relationships will provide us with acquisition opportunities across a variety
of industries. Our board of directors has significant leadership experience in driving growth and creating value in post-reorganization
companies, both public and private, ultimately leading to successful sales of such enterprises. We believe this collective experience
and success notably within the post-reorganization market will provide us an advantage with potential business combination targets
both pre- and post-transaction.</P>

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

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

<!-- Field: Page; Sequence: 76 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->72<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In evaluating prospective business combinations,
we expect to conduct a thorough due diligence review process that will encompass, among other things: an analysis of overall industry
and competitive conditions, a review of historical financial and operating data, meetings with incumbent management and employees
and interaction with third-parties who are industry experts of facilities and assets, discussion with customers and suppliers,
legal and other reviews as we deem appropriate. We will also utilize the expertise of our management team and our sponsor&rsquo;s
and its affiliates&rsquo; resources in analyzing and evaluating operating plans, financial projections and determining the appropriate
return expectations given the risk profile of the target business as well as the suitability of the target to become a public
company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We are not prohibited from pursuing an initial
business combination with a company that is affiliated with our sponsor, officers, directors or their affiliates, subject to certain
approvals and consents. In the event we seek to complete our initial business combination with a company that is affiliated with
our sponsor, officers, directors or their affiliates, we, or a committee of independent directors, will obtain an opinion from
an independent investment banking firm or another independent firm that commonly renders fairness opinions that our initial business
combination is fair to us from a financial point of view.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Nasdaq rules require that we must complete
one or more business combinations having an aggregate fair market value of at least 80% of the value of the assets held in the
trust account (excluding the deferred underwriting commissions and taxes payable on the interest earned on the trust account)
at the time of our signing a definitive agreement in connection with our initial business combination. Our board of directors
will make the determination as to the fair market value of our initial business combination. If our board of directors is not
able to independently determine the fair market value of our initial business combination, we will obtain an opinion from an independent
investment banking firm or another independent entity that commonly renders valuation opinions with respect to the satisfaction
of such criteria. While we consider it unlikely that our board of directors will not be able to make an independent determination
of the fair market value of our initial business combination, it may be unable to do so if it is less familiar or experienced
with the business of a particular target or if there is a significant amount of uncertainty as to the value of a target&rsquo;s
assets or prospects. Additionally, pursuant to Nasdaq rules, any initial business combination must be approved by a majority of
our independent directors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We anticipate structuring our initial business
combination either (i)&nbsp;in such a way 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, or (ii)&nbsp;in such a way so that
the post-transaction company owns or acquires less than 100% of such interests or assets of the target business in order to meet
certain objectives of the target management team or stockholders, or for other reasons. However, we will only complete an initial
business combination if the post-transaction company owns or acquires 50% or more of the outstanding voting securities of the
target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment
company under the Investment Company Act of 1940, as amended, or the &ldquo;Investment Company Act&rdquo;. Even if the post-transaction
company owns or acquires 50% or more of the voting securities of the target, our stockholders prior to the initial business combination
may collectively own a minority interest in the post-transaction company, depending on valuations ascribed to the target and us
in the initial business combination. 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 taken into account
for purposes of Nasdaq&rsquo;s 80% fair market value test. If the initial business combination involves more than one target business,
the 80% fair market value test will be based on the aggregate value of all of the transactions and we will treat the target businesses
together as the initial business combination for purposes of a tender offer or for seeking stockholder approval, as applicable.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Our Business Combination Process</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Members of our management team may directly
or indirectly own our founders shares, common stock and/or private placement warrants following this offering, and, accordingly,
may have a conflict of interest in determining whether a particular target business is an appropriate business with which to effectuate
our initial business combination. Further, each of our officers and directors may have a conflict of interest with respect to
evaluating a particular business combination if the retention or resignation of any such officers and directors were to be included
by a target business as a condition to any agreement with respect to our initial business combination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 77 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->73<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Each of our officers and directors presently
has, and any of them in the future may have additional, fiduciary or contractual obligations to other entities pursuant to which
such officer or director is or will be required to present a business combination opportunity. Accordingly, if any of our officers
or directors becomes aware of a business combination opportunity which is suitable for an entity to which he or she has then-current
fiduciary or contractual obligations to present the opportunity to such entity, he or she will honor his or her fiduciary or contractual
obligations to present such opportunity to such entity. We believe, however, that the fiduciary duties or contractual obligations
of our officers or directors will not materially affect our ability to complete our initial business combination, as we believe
any such opportunities presented would be smaller than what we are interested in, in different fields than what we would be interested
in, or that our obligations are to entities that are not themselves in the business of engaging in business combinations. Our
amended and restated certificate of incorporation will provide that we renounce our interest in any corporate opportunity offered
to any director or officer unless such opportunity is expressly offered to such person solely in his or her capacity as a director
or officer of our company and such opportunity is one we are legally and contractually permitted to undertake and would otherwise
be reasonable for us to pursue, and to the extent the director or officer is permitted to refer that opportunity to us without
violating another legal obligation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our officers and directors may become an
officer or director of another special purpose acquisition company with a class of securities intended to be registered under
the Securities Exchange Act of 1934, as amended, or the Exchange Act, even before we have entered into a definitive agreement
regarding our initial business combination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Status as a Public Company</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We believe our structure will make us an
attractive business combination partner to target businesses. As a public company, we offer a target business an alternative to
the traditional initial public offering through a merger or other business combination with us. Following an initial business
combination, we believe the target business would have greater access to capital and additional means of creating management incentives
that are better aligned with stockholders&rsquo; interests than it would as a private company. A target business can further benefit
by augmenting its profile among potential new customers and vendors and aid in attracting talented employees. In a business combination
transaction with us, the owners of the target business may, for example, exchange their shares of stock in the target business
for our shares of Class&nbsp;A common stock (or shares of a new holding company) or for a combination of our shares of Class&nbsp;A
common stock and cash, allowing us to tailor the consideration to the specific needs of the sellers.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Although there are various costs and obligations
associated with being a public company, we believe target businesses will find this method a more expeditious and cost effective
method to becoming a public company than the typical initial public offering. The typical initial public offering process takes
a significantly longer period of time than the typical business combination transaction process, and there are significant expenses
in the initial public offering process, including underwriting discounts and commissions, marketing and road show efforts that
may not be present to the same extent in connection with an initial business combination with us.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Furthermore, once a proposed initial business
combination is completed, the target business will have effectively become public, whereas an initial public offering is always
subject to the underwriters&rsquo; ability to complete the offering, as well as general market conditions, which could delay or
prevent the offering from occurring or could have negative valuation consequences. Following an initial business combination,
we believe the target business would then have greater access to capital and an additional means of providing management incentives
consistent with stockholders&rsquo; interests and the ability to use its shares as currency for acquisitions. Being a public company
can offer further benefits by augmenting a company&rsquo;s profile among potential new customers and vendors and aid in attracting
talented employees.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">While we believe that our structure and
our management team&rsquo;s backgrounds will make us an attractive business partner, some potential target businesses may view
our status as a blank check company, such as our lack of an operating history and our ability to seek stockholder approval of
any proposed initial business combination, negatively.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 78 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->74<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We are an &ldquo;emerging growth company,&rdquo;
as defined in Section&nbsp;2(a) of the Securities Act, as modified by the JOBS Act. As such, we are eligible to take advantage
of certain exemptions from various reporting requirements that are applicable to other public companies that are not &ldquo;emerging
growth companies&rdquo; including, but not limited to, not being required to comply with the independent registered public accounting
firm attestation requirements of Section&nbsp;404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive
compensation in our periodic reports and proxy statements, and exemptions from the requirements of holding a 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 Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In addition, Section&nbsp;107 of the JOBS
Act also provides that an &ldquo;emerging growth company&rdquo; can take advantage of the extended transition period provided
in Section&nbsp;7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. In other words, an &ldquo;emerging
growth company&rdquo; can delay the adoption of certain accounting standards until those standards would otherwise apply to private
companies. We intend to take advantage of the benefits of this extended transition period.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We will remain an emerging growth company
until the earlier of (1)&nbsp;the last day of the fiscal year (a)&nbsp;following the fifth anniversary of the completion of this
offering, (b)&nbsp;in which we have total annual gross revenue of at least $1.07 billion, or (c)&nbsp;in which we are deemed to
be a large accelerated filer, which means the market value of our Class&nbsp;A common stock that is held by non-affiliates exceeds
$700 million as of the prior June&nbsp;30<SUP>th</SUP>, and (2)&nbsp;the date on which we have issued more than $1.0 billion in
non-convertible debt securities during the prior three-year period.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Additionally, we are a &ldquo;smaller reporting
company&rdquo; as defined in Rule&nbsp;10(f)(1) of Regulation S-K. Smaller reporting companies may take advantage of certain reduced
disclosure obligations, including, among other things, providing only two years of audited financial statements. We will remain
a smaller reporting company until the last day of the fiscal year in which (1)&nbsp;the market value of our common stock held
by non-affiliates exceeds $250 million as of the prior June&nbsp;30<SUP>th</SUP>, or (2)&nbsp;our annual revenues exceed $100
million during such completed fiscal year and the market value of our common stock held by non-affiliates exceeds $700 million
as of the prior June&nbsp;30<SUP>th</SUP>.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">With funds available for an initial business
combination initially in the amount of $120,625,000, after payment of $4,375,000 of deferred underwriting fees (or $138,718,750
after payment of up to $5,031,250 of deferred underwriting fees if the underwriters&rsquo; over-allotment option is exercised
in full), in each case before fees and expenses associated with our initial business combination, we offer a target business a
variety of options such as creating a liquidity event for its owners, providing capital for the potential growth and expansion
of its operations or strengthening its balance sheet by reducing its debt or leverage ratio. Because we are able to complete our
initial business combination using our cash, debt or equity securities, or a combination of the foregoing, we have the flexibility
to use the most efficient combination that will allow us to tailor the consideration to be paid to the target business to fit
its needs and desires. However, we have not taken any steps to secure third party financing and there can be no assurance it will
be available to us.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Effecting Our Initial Business Combination</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We are not presently engaged in, and we
will not engage in, any operations for an indefinite period of time following this offering. We intend to effectuate our initial
business combination using cash from the proceeds of this offering and the private placement of the private placement warrants,
the proceeds of the sale of our shares in connection with our initial business combination (pursuant to forward purchase agreements
or backstop agreements we may enter into following the consummation of this offering or otherwise), shares issued to the owners
of the target, debt issued to bank or other lenders or the owners of the target, or a combination of the foregoing. We may seek
to complete our initial business combination with a company or business that may be financially unstable or in its early stages
of development or growth, which would subject us to the numerous risks inherent in such companies and businesses.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 79 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->75<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">If our initial business combination is paid
for using equity or debt securities, or not all of the funds released from the trust account are used for payment of the consideration
in connection with our initial business combination or used for redemptions of our Class&nbsp;A common stock, we may apply the
balance of the cash released to us from the trust account for general corporate purposes, including for maintenance or expansion
of operations of the post-transaction company, the payment of principal or interest due on indebtedness incurred in completing
our initial business combination, to fund the purchase of other companies or for working capital.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We may seek to raise additional funds through
a private offering of debt or equity securities in connection with the completion of our initial business combination, and we
may effectuate our initial business combination using the proceeds of such offering rather than using the amounts held in the
trust account. In addition, we intend to target businesses larger than we could acquire with the net proceeds of this offering
and the sale of the private placement warrants, and may as a result be required to seek additional financing to complete such
proposed initial business combination. Subject to compliance with applicable securities laws, we would expect to complete such
financing only simultaneously with the completion of our initial business combination. In the case of an initial business combination
funded with assets other than the trust account assets, our proxy materials or tender offer documents disclosing the initial business
combination would disclose the terms of the financing and, only if required by law, we would seek stockholder approval of such
financing. There are no prohibitions on our ability to raise funds privately or through loans in connection with our initial business
combination. At this time, we are not a party to any arrangement or understanding with any third party with respect to raising
any additional funds through the sale of securities or otherwise.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Sources of Target Businesses</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We anticipate that target business candidates
will be brought to our attention from various unaffiliated sources, including investment bankers and investment professionals.
Target businesses may be brought to our attention by such unaffiliated sources as a result of being solicited by us by calls or
mailings. These sources may also introduce us to target businesses in which they think we may be interested on an unsolicited
basis, since many of these sources will have read this prospectus and know what types of businesses we are targeting. Our officers
and directors, as well as our sponsor and their 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. In addition, we expect to receive a number of proprietary deal flow opportunities that
would not otherwise necessarily be available to us as a result of the business relationships of our officers and directors and
our sponsor and their respective industry and business contacts as well as their affiliates. 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,
advisory fee or other compensation to be determined in an arm&rsquo;s length negotiation based on the terms of the transaction.
We will engage a finder only to the extent our management determines that the use of a finder may bring opportunities to us that
may not otherwise be available to us or if finders approach us on an unsolicited basis with a potential transaction that our management
determines is in our best interest to pursue. Payment of finder&rsquo;s fees is customarily tied to completion of a transaction,
in which case any such fee will be paid out of the funds held in the trust account. In no event, however, will our sponsor or
any of our existing officers or directors, or any entity with which our sponsor or officers are affiliated, be paid any finder&rsquo;s
fee, reimbursement, consulting fee, monies in respect of any payment of a loan or other compensation by the company prior to,
or in connection with any services rendered for any services they render in order to effectuate, the completion of our initial
business combination (regardless of the type of transaction that it is). Although none of our sponsor, executive officers or directors,
or any of their respective affiliates, will be allowed to receive any compensation, finder&rsquo;s fees or consulting fees from
a prospective business combination target in connection with a contemplated initial business combination, we do not have a policy
that prohibits our sponsor, executive officers or directors, or any of their respective affiliates, from negotiating for the reimbursement
of out-of-pocket expenses by a target business. We have agreed to pay our sponsor a total of $10,000 per month for office space,
utilities and secretarial and administrative support and to reimburse our sponsor for any out-of-pocket expenses related to identifying,
investigating and completing an initial business combination. Some of our officers and directors may enter into employment or
consulting agreements with the post-transaction company following our initial business combination. The presence or absence of
any such fees or arrangements will not be used as a criterion in our selection process of an initial business combination candidate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We are not prohibited from pursuing an initial
business combination with an initial business combination target that is affiliated with our sponsor, officers or directors or
making the initial business combination through a joint venture or other form of shared ownership with our sponsor, officers or
directors. In the event we seek to complete our initial business combination with an initial business combination target that
is affiliated with our sponsor, officers or directors, we, or a committee of independent directors, would obtain an opinion from
an independent investment banking firm or from another independent entity that commonly renders valuation opinions that such an
initial business combination is fair to our company from a financial point of view. We are not required to obtain such an opinion
in any other context.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 80 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->76<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">As more fully discussed in the section of
this prospectus entitled &ldquo;Management &mdash; Conflicts of Interest,&rdquo; if any of our officers or directors becomes aware
of an initial business combination opportunity that falls within the line of business of any entity to which he or she has pre-existing&nbsp;fiduciary
or contractual obligations, he or she may be required to present such business combination opportunity to such entity prior to
presenting such business combination opportunity to us. Our officers and directors currently have certain relevant fiduciary duties
or contractual obligations that may take priority over their duties to us.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Selection of a Target Business and Structuring of our Initial
Business Combination</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Nasdaq rules require that we must complete
one or more business combinations having an aggregate fair market value of at least 80% of the value of the assets held in the
trust account (excluding the deferred underwriting commissions and taxes payable on the interest earned on the trust account)
at the time of our signing a definitive agreement in connection with our initial business combination. The fair market value of
our initial business combination will be determined by our board of directors based upon one or more standards generally accepted
by the financial community, such as discounted cash flow valuation, a valuation based on trading multiples of comparable public
businesses or a valuation based on the financial metrics of M&amp;A transactions of comparable businesses. If our board of directors
is not able to independently determine the fair market value of our initial business combination, we will obtain an opinion from
an independent investment banking firm or another independent entity that commonly renders valuation opinions with respect to
the satisfaction of such criteria. While we consider it unlikely that our board of directors will not be able to make an independent
determination of the fair market value of our initial business combination, it may be unable to do so if it is less familiar or
experienced with the business of a particular target or if there is a significant amount of uncertainty as to the value of a target&rsquo;s
assets or prospects. Additionally, pursuant to Nasdaq rules, any initial business combination must be approved by a majority of
our independent directors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We do not intend to purchase multiple businesses
in unrelated industries in conjunction with our initial business combination. Subject to this requirement, our management will
have virtually unrestricted flexibility in identifying and selecting one or more prospective target businesses, although we will
not be permitted to effectuate our initial business combination with another blank check company or a similar company with nominal
operations. We anticipate structuring our initial business combination either (i)&nbsp;in such a way 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, or (ii)&nbsp;in such a way so that the post-transaction company owns or acquires less than 100% of such interests
or assets of the target business in order to meet certain objectives of the target management team or stockholders. However, we
will only complete an initial business combination if the post-transaction company owns or acquires 50% or more of the outstanding
voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required
to register as an investment company under the Investment Company Act of 1940, as amended, or the &ldquo;Investment Company Act&rdquo;.
Even if the post-transaction company owns or acquires 50% or more of the voting securities of the target, our stockholders prior
to the initial business combination may collectively own a minority interest in the post-transaction company, depending on valuations
ascribed to the target and us in the initial business combination. 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 taken into account for purposes of Nasdaq&rsquo;s 80% fair market value test. If the initial business combination involves
more than one target business, the 80% fair market value test will be based on the aggregate value of all of the transactions
and we will treat the target businesses together as the initial business combination for purposes of a tender offer or for seeking
stockholder approval, as applicable.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 81 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->77<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">To the extent we effect our initial business
combination with a company or business that may be financially unstable or in its early stages of development or growth we may
be affected by numerous risks inherent in such company or business. 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 Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The time required to select and evaluate
a target business and to structure and complete our initial business combination, and the costs associated with this process,
are not currently ascertainable with any degree of certainty. Any costs incurred with respect to the identification and evaluation
of a prospective target business with which our initial business combination is not ultimately completed will result in our incurring
losses and will reduce the funds we can use to complete another business combination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Lack of Business Diversification</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">For an indefinite period of time after the
completion of our initial business combination, the prospects for our success may depend entirely on the future performance of
a single business. Unlike other entities that have the resources to complete business combinations with multiple entities in one
or several industries, it is probable that we will not have the resources to diversify our operations and mitigate the risks of
being in a single line of business. In addition, we intend to focus our search for an initial business combination in a single
industry. By completing our initial business combination with only a single entity, our lack of diversification may:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">subject
                                         us to negative economic, competitive and regulatory developments, any or all of which
                                         may have a substantial adverse impact on the particular industry in which we operate
                                         after our initial business combination, and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">cause
                                         us to depend on the marketing and sale of a single product or limited number of products
                                         or services.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Limited Ability to Evaluate the Target&rsquo;s Management
Team</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Although we intend to closely scrutinize
the management of a prospective target business when evaluating the desirability of effecting our initial business combination
with that business, our assessment of the target business&rsquo; management may not prove to be correct. In addition, the future
management may not have the necessary skills, qualifications or abilities to manage a public company. Furthermore, the future
role of members of our management team, if any, in the target business cannot presently be stated with any certainty. The determination
as to whether any of the members of our management team will remain with the combined company will be made at the time of our
initial business combination. While it is possible that one or more of our directors will remain associated in some capacity with
us following our initial business combination, it is unlikely that any of them will devote their full efforts to our affairs subsequent
to our initial business combination. Moreover, we cannot assure you that members of our management team will have significant
experience or knowledge relating to the operations of the particular target business.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We cannot assure you that any of our key
personnel will remain in senior management or advisory positions with the combined company. The determination as to whether any
of our key personnel will remain with the combined company will be made at the time of our initial business combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Following an initial business combination,
we may seek to recruit additional managers to supplement the incumbent management of the target business. We cannot assure you
that we will have the ability to recruit additional managers, or that additional managers will have the requisite skills, knowledge
or experience necessary to enhance the incumbent management.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Stockholders May Not Have the Ability to Approve Our Initial
Business Combination</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We may conduct redemptions without a stockholder
vote pursuant to the tender offer rules of the SEC subject to the provisions of our amended and restated certificate of incorporation.
However, we will seek stockholder approval if it is required by law or applicable stock exchange rule, or we may decide to seek
stockholder approval for business or other legal reasons. Presented in the table below is a graphic explanation of the types of
initial business combinations we may consider and whether stockholder approval is currently required under Delaware law for each
such transaction.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 82 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->78<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&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: White">
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; width: 83%">Type of Transaction</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; width: 15%; text-align: center">Whether
    <BR> Stockholder <BR> Approval is <BR> Required</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Purchase of assets</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">No</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Purchase of stock of target not involving a merger
    with the company</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">No</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Merger of target into a subsidiary of the company</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">No</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Merger of the company with a target</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">Yes</TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Under Nasdaq&rsquo;s listing rules, stockholder
approval would be required for our initial business combination if, for example:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: left">we issue
                                         shares of Class&nbsp;A common stock that will be equal to or in excess of 20% of the
                                         number of shares of our Class&nbsp;A common stock then outstanding;</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: left">&bull;</TD><TD STYLE="text-align: left">any of our directors, officers or substantial
                                         stockholders (as defined by Nasdaq rules) has a 5% or greater interest (or such persons
                                         collectively have a 10% or greater interest), directly or indirectly, in the target business
                                         or assets to be acquired or otherwise and the present or potential issuance of common
                                         stock could result in an increase in outstanding common shares or voting power of 5%
                                         or more; or</TD>
</TR>     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>

<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: left">&bull;</TD><TD STYLE="text-align: justify">the issuance or potential issuance of
                                         common stock will result in our undergoing a change of control.</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Permitted Purchases of our Securities</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">If we seek stockholder approval of our initial
business combination and we do not conduct redemptions in connection with our initial business combination pursuant to the tender
offer rules, our sponsor, initial stockholders, directors, officers, advisors or their affiliates may purchase shares or public
warrants in privately negotiated transactions or in the open market either prior to or following the completion of our initial
business combination. There is no limit on the number of shares our initial stockholders, directors, officers, advisors or their
affiliates may purchase in such transactions, subject to compliance with applicable law and Nasdaq rules. 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. If they engage in such transactions, they will not make any such purchases when they are in possession of any
material nonpublic information not disclosed to the seller or if such purchases are prohibited by Regulation M under the Exchange
Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In the event that our sponsor, initial stockholders,
directors, officers, advisors or their affiliates purchase shares in privately negotiated transactions from public stockholders
who have already elected to exercise their redemption rights, such selling stockholders would be required to revoke their prior
elections to redeem their shares. We do not currently anticipate that such purchases, if any, would constitute a tender offer
subject to the tender offer rules under the Exchange Act or a going-private transaction subject to the going-private rules under
the Exchange Act; however, if the purchasers determine at the time of any such purchases that the purchases are subject to such
rules, the purchasers will comply with such rules. Any such purchases will be reported pursuant to Section&nbsp;13 and Section&nbsp;16
of the Exchange Act to the extent such purchasers are subject to such reporting requirements. None of the funds held in the trust
account will be used to purchase shares or public warrants in such transactions prior to completion of our initial business combination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The purpose of any such purchases of shares
could be to vote such shares in favor of the initial business combination and thereby increase the likelihood of obtaining stockholder
approval of the initial business combination or to satisfy a closing condition in an agreement with a target that requires us
to have a minimum net worth or a certain amount of cash at the closing of our initial business combination, where it appears that
such requirement would otherwise not be met. The purpose of any such purchases of public warrants could be to reduce the number
of public warrants outstanding or to vote such warrants on any matters submitted to the warrantholders for approval in connection
with our initial business combination. Any such purchases of our securities may result in the completion of our initial business
combination that may not otherwise have been possible. In addition, if such purchases are made, the public &ldquo;float&rdquo;
of our shares of Class&nbsp;A common stock or warrants 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.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 83 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->79<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our sponsor, officers, directors and/or
their affiliates anticipate that they may identify the stockholders with whom our sponsor, officers, directors or their affiliates
may pursue privately negotiated purchases by either the stockholders (in the case of Class A common stock) 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 sponsor, officers, directors, advisors or their affiliates enter into
a private purchase, they would identify and contact only potential selling stockholders who have expressed their election to redeem
their shares for a pro rata share of the trust account or vote against our initial business combination, whether or not such stockholder
has already submitted a proxy with respect to our initial business combination but only if such shares have not already been voted
at the stockholder meeting related to our initial business combination. Our sponsor, officers, directors, advisors or any of their
affiliates will select which stockholders to purchase shares from based on a negotiated price and number of shares and any other
factors that they may deem relevant, and will only purchase shares if such purchases comply with Regulation M under the Exchange
Act and the other federal securities laws.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Any purchases by our sponsor, officers,
directors and/or their affiliates who are affiliated purchasers under Rule&nbsp;10b-18 under the Exchange Act will only be made
to the extent such purchases are able to be made in compliance with Rule&nbsp;10b-18, which is a safe harbor from liability for
manipulation under Section&nbsp;9(a)(2) and Rule&nbsp;10b-5 of the Exchange Act. Rule&nbsp;10b-18 has certain technical requirements
that must be complied with in order for the safe harbor to be available to the purchaser. Our sponsor, officers, directors and/or
their affiliates will not make purchases of common stock if the purchases would violate Section&nbsp;9(a)(2) or Rule&nbsp;10b-5
of the Exchange Act. Any such purchases will be reported pursuant to Section&nbsp;13 and Section&nbsp;16 of the Exchange Act to
the extent such purchases are subject to such reporting requirements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Redemption Rights for Public Stockholders upon Completion
of our Initial Business Combination</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We will provide our public stockholders
with the opportunity to redeem all or a portion of their shares of Class&nbsp;A common stock upon the completion of our initial
business combination at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account
as of two business days prior to the consummation of the initial business combination including interest earned on the funds held
in the trust account and not previously released to us to pay our taxes, divided by the number of then outstanding public shares,
subject to the limitations described herein. The amount in the trust account is initially anticipated to be approximately $10.00
per public share. The per-share amount we will distribute to investors who properly redeem their shares will not be reduced by
the deferred underwriting commissions we will pay to the underwriters. The redemption rights will include the requirement that
a beneficial holder must identify itself in order to validly redeem its shares. Our sponsor, officers and directors have entered
into a letter agreement with us, pursuant to which they have agreed to waive their redemption rights with respect to any founder
shares and any public shares held by them in connection with the completion of our initial business combination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Manner of Conducting Redemptions</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We will provide our public stockholders
with the opportunity to redeem all or a portion of their shares of Class&nbsp;A common stock upon the completion of our initial
business combination either (i)&nbsp;in connection with a stockholder meeting called to approve the initial business combination
or (ii)&nbsp;by means of a tender offer. The decision as to whether we will seek stockholder approval of a proposed initial business
combination or conduct a tender offer will be made by us, solely in our discretion, and will be based on a variety of factors
such as the timing of the transaction and whether the terms of the transaction would require us to seek stockholder approval under
the law or stock exchange listing requirement. Under Nasdaq rules, asset acquisitions and stock purchases would not typically
require stockholder approval while direct mergers with our company where we do not survive and any transactions where we issue
more than 20% of our outstanding common stock or seek to amend our amended and restated certificate of incorporation would require
stockholder approval. If we structure an initial business combination with a target company in a manner that requires stockholder
approval, we will not have discretion as to whether to seek a stockholder vote to approve the proposed initial business combination.
We may conduct redemptions without a stockholder vote pursuant to the tender offer rules of the SEC unless stockholder approval
is required by law or stock exchange listing requirements or we choose to seek stockholder approval for business or other legal
reasons. So long as we obtain and maintain a listing for our securities on Nasdaq, we will be required to comply with such rules.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">If a stockholder vote is not required and
we do not decide to hold a stockholder vote for business or other legal reasons, we will, pursuant to our amended and restated
certificate of incorporation:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">conduct
                                         the redemptions pursuant to Rule&nbsp;13e-4 and Regulation 14E of the Exchange Act, which
                                         regulate issuer tender offers, and</TD>
</TR>     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">file
                                         tender offer documents with the SEC prior to completing our initial business combination
                                         which contain substantially the same financial and other information about the initial
                                         business combination and the redemption rights as is required under Regulation 14A of
                                         the Exchange Act, which regulates the solicitation of proxies.</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Upon the public announcement of our initial
business combination, we or our sponsor will terminate any plan established in accordance with Rule&nbsp;10b5-1 to purchase shares
of our Class&nbsp;A common stock in the open market if we elect to redeem our public shares through a tender offer, to comply
with Rule&nbsp;14e-5 under the Exchange Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 84 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->80<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In the event we conduct redemptions pursuant
to the tender offer rules, our offer to redeem will remain open for at least 20 business days, in accordance with Rule&nbsp;14e-1(a)
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, we will not redeem any public shares unless our net tangible assets will be at least $5,000,001
either immediately prior to or upon consummation of our initial business combination and after payment of underwriters&rsquo;
fees and commissions (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 Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">If, however, stockholder approval of the
transaction is required by law or stock exchange listing requirement, or we decide to obtain stockholder approval for business
or other legal reasons, we will, pursuant to our amended and restated certificate of incorporation:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">conduct
                                         the redemptions in conjunction with a proxy solicitation pursuant to Regulation 14A of
                                         the Exchange Act, which regulates the solicitation of proxies, and not pursuant to the
                                         tender offer rules, and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">file
                                         proxy materials with the SEC.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In the event that we seek stockholder approval
of our initial business combination, we will distribute proxy materials and, in connection therewith, provide our public stockholders
with the redemption rights described above upon completion of the initial business combination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">If we seek stockholder approval, we will
complete our initial business combination only if a majority of the outstanding shares of common stock voted are voted in favor
of the initial business combination. A quorum for such meeting will consist of the holders present in person or by proxy of shares
of outstanding capital stock of the company representing a majority of the voting power of all outstanding shares of capital stock
of the company entitled to vote at such meeting. Our initial stockholders will count toward this quorum and pursuant to the letter
agreement, our sponsor, officers and directors have agreed to vote their founder shares and any public shares purchased during
or after this offering (including in open market and privately negotiated transactions) in favor of our initial business combination.
For purposes of seeking approval of the majority of our outstanding shares of common stock voted, non-votes will have no effect
on the approval of our initial business combination once a quorum is obtained. As a result, in addition to our initial stockholders&rsquo;
founder shares, we would need only 4,687,501, or 37.5%, of the 12,500,000 public shares sold in this offering to be voted in favor
of an initial business combination (assuming all outstanding shares are voted and our sponsor, officers and directors do not purchase
any public shares) in order to have our initial business combination approved (assuming all outstanding shares are voted and the
over-allotment option is not exercised). We intend to give approximately 30&nbsp;days (but not less than 10&nbsp;days nor more
than 60&nbsp;days) prior written notice of any such meeting, if required, at which a vote shall be taken to approve our initial
business combination. These quorum and voting thresholds, and the voting agreements of our initial stockholders, may make it more
likely that we will consummate our initial business combination. Each public stockholder may elect to redeem its public shares
irrespective of whether they vote for or against the proposed transaction.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our amended and restated certificate of
incorporation will provide that we may not redeem our public shares unless our net tangible assets are at least $5,000,001 either
immediately prior to or upon consummation of our initial business combination and after payment of underwriters&rsquo; fees and
commissions (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. For example, the proposed
initial business combination may require: (i)&nbsp;cash consideration to be paid to the target or its owners, (ii)&nbsp;cash to
be transferred to the target for working capital or other general corporate purposes or (iii)&nbsp;the retention of cash to satisfy
other conditions in accordance with the terms of the proposed initial business combination. In the event the aggregate cash consideration
we would be required to pay for all shares of Class&nbsp;A common stock that are validly submitted for redemption plus any amount
required to satisfy cash conditions pursuant to the terms of the proposed initial business combination exceed the aggregate amount
of cash available to us, we will not complete the initial business combination or redeem any shares, and all shares of Class&nbsp;A
common stock submitted for redemption will be returned to the holders thereof.</P>

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

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

<!-- Field: Page; Sequence: 85 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->81<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Limitation on Redemption upon Completion of our Initial
Business Combination if we Seek Stockholder Approval</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Notwithstanding the foregoing, if we seek
stockholder approval of our initial business combination and we do not conduct redemptions in connection with our initial business
combination pursuant to the tender offer rules, our amended and restated certificate of incorporation will provide that a public
stockholder, together with any affiliate of such stockholder or any other person with whom such stockholder is acting in concert
or as a &ldquo;group&rdquo; (as defined under Section&nbsp;13 of the Exchange Act), will be restricted from seeking redemption
rights with respect to more than an aggregate of 20% of the shares sold in this offering, which we refer to as the &ldquo;Excess
Shares.&rdquo; Such restriction shall also be applicable to our affiliates. We believe this restriction will discourage stockholders
from accumulating large blocks of shares, and subsequent attempts by such holders to use their ability to exercise their redemption
rights against a proposed initial business combination as a means to force us or our management to purchase their shares at a
significant premium to the then-current market price or on other undesirable terms. Absent this provision, a public stockholder
holding more than an aggregate of 20% of the shares sold in this offering could threaten to exercise its redemption rights if
such holder&rsquo;s shares are not purchased by us or our management at a premium to the then-current market price or on other
undesirable terms. By limiting our stockholders&rsquo; ability to redeem no more than 20% of the shares sold in this offering
without our prior consent, we believe we will limit the ability of a small group of stockholders to unreasonably attempt to block
our ability to complete our initial business combination, particularly in connection with an initial business combination with
a target that requires as a closing condition that we have a minimum net worth or a certain amount of cash. However, we would
not be restricting our stockholders&rsquo; ability to vote all of their shares (including Excess Shares) for or against our initial
business combination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Tendering Stock Certificates in Connection with Redemption
Rights</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We may require our public stockholders seeking
to exercise their redemption rights, whether they are record holders or hold their shares in &ldquo;street name,&rdquo; to either
tender their certificates to our transfer agent prior to the meeting held to approve a proposed initial business combination by
a date set forth in the proxy materials mailed to such holders or to deliver their shares to the transfer agent electronically
using the Depository Trust Company&rsquo;s DWAC (Deposit/Withdrawal At Custodian) System, at the holder&rsquo;s option. The proxy
materials that we will furnish to holders of our public shares in connection with our initial business combination will indicate
whether we are requiring public stockholders to satisfy such delivery requirements. Accordingly, a public stockholder would have
from the time we send out our proxy materials until the date set forth in such proxy materials to tender its shares if it wishes
to seek to exercise its redemption rights. Given the relatively short exercise period, it is advisable for stockholders to use
electronic delivery of their public shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">There is a nominal cost associated with
the above-referenced tendering process and the act of certificating the shares or delivering them through the DWAC System. The
transfer agent will typically charge the tendering broker $80.00 and it would be up to the broker whether or not to pass this
cost on to the redeeming holder. However, this fee would be incurred regardless of whether or not we require holders seeking to
exercise redemption rights to tender their shares. The need to deliver shares is a requirement of exercising redemption rights
regardless of the timing of when such delivery must be effectuated.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The foregoing is different from the procedures
used by many blank check companies. In order to perfect redemption rights in connection with their business combinations, many
blank check companies would distribute proxy materials for the stockholders&rsquo; vote on an initial business combination, and
a holder could simply vote against a proposed initial business combination and check a box on the proxy card indicating such holder
was seeking to exercise his or her redemption rights. After the initial business combination was approved, the company would contact
such stockholder to arrange for him or her to deliver his or her certificate to verify ownership. As a result, the stockholder
then had an &ldquo;option window&rdquo; after the completion of the initial business combination during which he or she could
monitor the price of the company&rsquo;s stock in the market. If the price rose above the redemption price, he or she could sell
his or her shares in the open market before actually delivering his or her shares to the company for cancellation. As a result,
the redemption rights, to which stockholders were aware they needed to commit before the stockholder meeting, would become &ldquo;option&rdquo;
rights surviving past the completion of the initial business combination until the redeeming holder delivered its certificate.
The requirement for physical or electronic delivery prior to the meeting ensures that a redeeming holder&rsquo;s election to redeem
is irrevocable once the initial business combination is approved.</P>

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

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

<!-- Field: Page; Sequence: 86 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->82<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Any request to redeem such shares, once
made, may be withdrawn at any time up to the date set forth in the proxy materials. Furthermore, if a holder of a public share
delivered its certificate in connection with an election of redemption rights and subsequently decides prior to the applicable
date not to elect to exercise such rights, such holder may simply request that the transfer agent return the certificate (physically
or electronically). It is anticipated that the funds to be distributed to holders of our public shares electing to redeem their
shares will be distributed promptly after the completion of our initial business combination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">If our initial business combination is not
approved or completed for any reason, then our public stockholders who elected to exercise their redemption rights would not be
entitled to redeem their shares for the applicable pro rata share of the trust account. In such case, we will promptly return
any certificates delivered by public holders who elected to redeem their shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">If our initial proposed initial business
combination is not completed, we may continue to try to complete an initial business combination with a different target until
24 months from the closing of this offering.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Redemption of Public Shares and Liquidation if no Initial
Business Combination</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our amended and restated certificate of
incorporation provides that we will have only 24 months from the closing of this offering to complete our initial business combination.
If we are unable to complete our initial business combination within such 24-month period, we will: (i)&nbsp;cease all operations
except for the purpose of winding up, (ii)&nbsp;as promptly as reasonably possible but not more than ten business days thereafter,
redeem the public shares, at a 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 taxes (less up to
$100,000 of interest to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will
completely extinguish public stockholders&rsquo; rights as stockholders (including the right to receive further liquidating distributions,
if any), subject to applicable law, and (iii)&nbsp;as promptly as reasonably possible following such redemption, subject to the
approval of our remaining stockholders and our board of directors, dissolve and liquidate, subject in each case to our obligations
under Delaware law to provide for claims of creditors and the requirements of other applicable law. There will be no redemption
rights or liquidating distributions with respect to our warrants, which will expire worthless if we fail to complete our initial
business combination within the 24-month time period.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our sponsor, officers and directors have
entered into a letter agreement with us, pursuant to which they have waived their rights to liquidating distributions from the
trust account with respect to any founder shares held by them if we fail to complete our initial business combination within 24
months from the closing of this offering. However, if our sponsor, officers or directors acquire public shares in or after this
offering, they will be entitled to liquidating distributions from the trust account with respect to such public shares if we fail
to complete our initial business combination within the allotted 24-month time period.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our sponsor, officers and directors have
agreed, pursuant to a written agreement with us, that they will not propose any amendment to our amended and restated certificate
of incorporation (i)&nbsp;to modify the substance or timing of our obligation to redeem 100% of our public shares if we do not
complete our initial business combination within 24 months from the closing of this offering or (ii)&nbsp;with respect to any
other provision relating to stockholders&rsquo; rights or pre-initial business combination activity, unless we provide our public
stockholders with the opportunity to redeem their shares of Class&nbsp;A 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 taxes divided by the number of then outstanding
public shares. However, we may not redeem our public shares unless our net tangible assets are at least $5,000,001 either immediately
prior to or upon consummation of our initial business combination and after payment of underwriters&rsquo; fees and commissions
(so that we are not subject to the SEC&rsquo;s &ldquo;penny stock&rdquo; rules). If this optional redemption right is exercised
with respect to an excessive number of public shares such that we cannot satisfy the net tangible asset requirement (described
above), we would not proceed with the amendment or the related redemption of our public shares at such time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We expect that all costs and expenses associated
with implementing our plan of dissolution, as well as payments to any creditors, will be funded from amounts remaining out of
the approximately $1,000,000 of proceeds held outside the trust account, although we cannot assure you that there will be sufficient
funds for such purpose. We will depend on sufficient interest being earned on the proceeds held in the trust account to pay any
tax obligations we may owe. However, if those funds are not sufficient to cover the costs and expenses associated with implementing
our plan of dissolution, to the extent that there is any interest accrued in the trust account not required to pay taxes on interest
income earned on the trust account balance, we may request the trustee to release to us an additional amount of up to $100,000
of such accrued interest to pay those costs and expenses.</P>

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

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

<!-- Field: Page; Sequence: 87 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->83<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
we were to expend all of the net proceeds of this offering and the sale of the private placement warrants, other than the proceeds
deposited in the trust account, and without taking into account interest, if any, earned on the trust account</FONT> (<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">and
any tax payments or expenses for the dissolution of the trust used from interest, if any), the per-share redemption amount received
by stockholders upon our dissolution would be approximately $10.00. The proceeds deposited in the trust account could, however,
become subject to the claims of our creditors which would have higher priority than the claims of our public stockholders. We
cannot assure you that the actual per-share redemption amount received by stockholders will not be substantially less than $10.00.
Under Section&nbsp;281(b) of the DGCL, our plan of dissolution must provide for all claims against us to be paid in full or make
provision for payments to be made in full, as applicable, if there are sufficient assets. These claims must be paid or provided
for before we make any distribution of our remaining assets to our stockholders. While we intend to pay such amounts, if any,
we cannot assure you that we will have funds sufficient to pay or provide for all creditors&rsquo; claims.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Although we will seek to have all vendors,
service providers, prospective target businesses or other entities with which we do business execute agreements with us waiving
any right, title, interest or claim of any kind in or to any monies held in the trust account for the benefit of our public stockholders,
there is no guarantee that they will execute such agreements or even if they execute such agreements that they would be prevented
from bringing claims against the trust account including but not limited to fraudulent inducement, breach of fiduciary responsibility
or other similar claims, as well as claims challenging the enforceability of the waiver, in each case in order to gain an advantage
with respect to a claim against our assets, including the funds held in the trust account. If any third party refuses to execute
an agreement waiving such claims to the monies held in the trust account, our management will perform an analysis of the alternatives
available to it and will only enter into an agreement with a third party that has not executed a waiver if management believes
that such third party&rsquo;s engagement would be significantly more beneficial to us than any alternative. Examples of possible
instances where we may engage a third party that refuses to execute a waiver include the engagement of a third-party consultant
whose particular expertise or skills are believed by management to be significantly superior to those of other consultants that
would agree to execute a waiver or in cases where management is unable to find a service provider willing to execute a waiver.
Marcum LLP, our independent registered public accounting firm, and the underwriters of the offering will not execute agreements
with us waiving such claims to the monies held in the trust account.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">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. Our sponsor has agreed that
it will be liable to us if and to the extent any claims by a third party for services rendered or products sold to us, or a prospective
target business with which we have entered into a written letter of intent, confidentiality or similar agreement or business combination
agreement, reduce the amount of funds in the trust account to below the lesser of (i) $10.00 per public share and (ii)&nbsp;the
actual amount per public share held in the trust account as of the date of the liquidation of the trust account, if less than
$10.00 per public share due to reductions in the value of the trust assets, less taxes payable, provided that such liability will
not apply to any claims by a third party or prospective target business who executed a waiver of any and all rights to the monies
held in the trust account (whether or not such waiver is enforceable) nor will it apply to any claims under our indemnity of the
underwriters of this offering against certain liabilities, including liabilities under the Securities Act. 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. As a result, if any such
claims were successfully made against the trust account, the funds available for our initial business combination and redemptions
could be reduced to less than $10.00 per public share. In such event, we may not be able to complete our initial business combination,
and you would receive such lesser amount per share in connection with any redemption of your public shares. 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 Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In the event that the proceeds in the trust
account are reduced below (i) $10.00 per public share or (ii)&nbsp;such lesser amount per public share held in the trust account
as of the date of the liquidation of the trust account, due to reductions in value of the trust assets, in each case net of the
amount of interest which may be withdrawn to pay taxes, and our 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 if, for example,
the cost of such legal action is deemed by the independent directors to be too high relative to the amount recoverable or if the
independent directors determine that a favorable outcome is not likely. We have not asked our sponsor to reserve for such indemnification
obligations and we cannot assure you that our sponsor would be able to satisfy those obligations. 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 public
share.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 88 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->84<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We will seek to reduce the possibility that
our sponsor will have to indemnify the trust account due to claims of creditors by endeavoring to have all vendors, service providers,
prospective target businesses or other entities with which we do business execute agreements with us waiving any right, title,
interest or claim of any kind in or to monies held in the trust account. Our sponsor will also not be liable as to any claims
under our indemnity of the underwriters of this offering against certain liabilities, including liabilities under the Securities
Act. We will have access to up to approximately $1,000,000 from the proceeds of this offering with which to pay any such potential
claims. In the event that we liquidate and it is subsequently determined that the reserve for claims and liabilities is insufficient,
stockholders who received funds from our trust account could be liable for claims made by creditors. In the event that our offering
expenses exceed our estimate of $750,000, we may fund such excess with funds from the funds not to be held in the trust account.
In such case, the amount of funds we intend to be held outside the trust account would decrease by a corresponding amount. Conversely,
in the event that the offering expenses are less than our estimate of $750,000, the amount of funds we intend to be held outside
the trust account would increase by a corresponding amount.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Under the DGCL, stockholders may be held
liable for claims by third parties against a corporation to the extent of distributions received by them in a dissolution. The
pro rata portion of our trust account distributed to our public stockholders upon the redemption of our public shares in the event
we do not complete our initial business combination within 24 months from the closing of this offering may be considered a liquidating
distribution under Delaware law. If the corporation complies with certain procedures set forth in Section&nbsp;280 of the DGCL
intended to ensure that it makes reasonable provision for all claims against it, including a 60-day notice period during which
any third-party claims can be brought against the corporation, a 90-day period during which the corporation may reject any claims
brought, and an additional 150-day waiting period before any liquidating distributions are made to stockholders, any liability
of stockholders with respect to a liquidating distribution is limited to the lesser of such stockholder&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 Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Furthermore, if the pro rata portion of
our trust account distributed to our public stockholders upon the redemption of our public shares in the event we do not complete
our initial business combination within 24 months from the closing of this offering, is not considered a liquidating distribution
under Delaware law and such redemption distribution is deemed to be unlawful (potentially due to the imposition of legal proceedings
that a party may bring or due to other circumstances that are currently unknown), then pursuant to Section&nbsp;174 of the DGCL,
the statute of limitations for claims of creditors could then be six years after the unlawful redemption distribution, instead
of three years, as in the case of a liquidating distribution. If we are unable to complete our initial business combination within
24 months from the closing of this offering, we will: (i)&nbsp;cease all operations except for the purpose of winding up, (ii)&nbsp;as
promptly as reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-share price,
payable in cash, equal to the aggregate amount then on deposit in the trust account including interest earned on the funds held
in the trust account and not previously released to us to pay our taxes (less up to $100,000 of interest to pay dissolution expenses),
divided by the number of then outstanding public shares, which redemption will completely extinguish public stockholders&rsquo;
rights as stockholders (including the right to receive further liquidating distributions, if any), subject to applicable law,
and (iii)&nbsp;as promptly as reasonably possible following such redemption, subject to the approval of our remaining stockholders
and our board of directors, dissolve and liquidate, subject in each case to our obligations under Delaware law to provide for
claims of creditors and the requirements of other applicable law. Accordingly, it is our intention to redeem our public shares
as soon as reasonably possible following our 24<SUP>th</SUP> month and, therefore, we do not intend to comply with those 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 Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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

<!-- Field: Page; Sequence: 89 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->85<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Because we will not be complying with Section&nbsp;280,
Section&nbsp;281(b) of the DGCL requires us to adopt a plan, based on facts known to us at such time that will provide for our
payment of all existing and pending claims or claims that may be potentially brought against us within the subsequent 10&nbsp;years.
However, because we are a blank check company, rather than an operating company, and our operations will be limited to searching
for prospective target businesses to acquire, the only likely claims to arise would be from our vendors (such as lawyers, investment
bankers, etc.) or prospective target businesses. As described above, pursuant to the obligation contained in our underwriting
agreement, we will seek to have all vendors, service providers, prospective target businesses or other entities with which we
do business execute agreements with us waiving any right, title, interest or claim of any kind in or to any monies held in the
trust account. As a result of this obligation, the claims that could be made against us are significantly limited and the likelihood
that any claim that would result in any liability extending to the trust account is remote. Further, our sponsor may be liable
only to the extent necessary to ensure that the amounts in the trust account are not reduced below (i) $10.00 per public share
or (ii)&nbsp;such lesser amount per public share held in the trust account as of the date of the liquidation of the trust account,
due to reductions in value of the trust assets, in each case net of the amount of interest withdrawn to pay taxes and will not
be liable as to any claims under our indemnity of the underwriters of this offering against certain liabilities, including liabilities
under the Securities Act. In the event that an executed waiver is deemed to be unenforceable against a third party, our sponsor
will not be responsible to the extent of any liability for such third-party claims.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">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, 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.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our public stockholders will be entitled
to receive funds from the trust account only upon the earlier to occur of: (i)&nbsp;the completion of our initial business combination,
(ii)&nbsp;the redemption of any public shares properly tendered in connection with a stockholder vote to amend any provisions
of our amended and restated certificate of incorporation (A)&nbsp;to modify the substance or timing of our obligation to offer
redemption rights in connection with any proposed initial business combination or to redeem 100% of our public shares if we do
not complete our initial business combination within 24 months from the closing of this offering or (B)&nbsp;with respect to any
other provision relating to stockholders&rsquo; rights or pre-initial business combination activity, and (iii)&nbsp;the redemption
of all of our public shares if we are unable to complete our business combination within 24 months from the closing of this offering,
subject to applicable law. In no other circumstances will a stockholder have any right or interest of any kind to or in the trust
account. In the event we seek stockholder approval in connection with our initial business combination, a stockholder&rsquo;s
voting in connection with the initial business combination alone will not result in a stockholder&rsquo;s redeeming its shares
to us for an applicable pro rata share of the trust account. Such stockholder must have also exercised its redemption rights as
described above. These provisions of our amended and restated certificate of incorporation, like all provisions of our amended
and restated certificate of incorporation, may be amended with a stockholder vote.</P>

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

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

<!-- Field: Page; Sequence: 90 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->86<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Comparison of Redemption or Purchase Prices in Connection
with Our Initial Business Combination and if We Fail to Complete Our Initial Business Combination</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The following table compares the redemptions
and other permitted purchases of public shares that may take place in connection with the completion of our initial business combination
and if we do not complete our initial business combination within 24 months from the closing of this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&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: 15%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-top: 10pt; padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 26%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Redemptions
    in Connection <BR>
    with our Initial Business <BR>
    Combination</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 26%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Other
    Permitted Purchases of <BR>
    Public Shares by us or our <BR>
    Affiliates</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 30%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Redemptions
    if we fail to <BR>
    Complete an Initial Business <BR>
    Combination</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Calculation
    of redemption price</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Redemptions at the time of our initial business
    combination may be made pursuant to a tender offer or in connection with a stockholder vote. The redemption price will be
    the same whether we conduct redemptions pursuant to a tender offer or in connection with a stockholder vote. In either case,
    our public stockholders may redeem their public shares for cash equal to the aggregate amount then on deposit in the trust
    account as of two business days prior to the consummation of the initial business combination (which is initially anticipated
    to be $10.00 per public share), including interest earned on the funds held in the trust account and not previously released
    to us to pay our taxes divided by the number of then outstanding public shares, subject to the limitation that no redemptions
    will take place if all of the redemptions would cause our net tangible assets to be less than $5,000,001 as described elsewhere
    in this prospectus and any limitations (including but not limited to cash requirements) agreed to in connection with the negotiation
    of terms of a proposed initial business combination.</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If we seek stockholder approval of our initial
    business combination, our sponsor, directors, officers, advisors or their affiliates may purchase shares in privately negotiated
    transactions or in the open market prior to or following completion of our initial business combination. There is no limit
    to the prices that our sponsor, directors, officers, advisors or their affiliates may pay in these transactions. If they engage
    in such transactions, they will be restricted from making any such purchases when they are in possession of any material nonpublic
    information not disclosed to the seller or if such purchases are prohibited by Regulation M under the Exchange Act. We do
    not currently anticipate that such purchases, if any, would constitute a tender offer subject to the tender offer rules under
    the Exchange Act or a going-private transaction subject to the going-private rules under the Exchange Act; however, if the
    purchasers determine at the time of any such purchases that the purchases are subject to such rules, the purchasers will comply
    with such rules.</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If we do not complete our initial business combination
    within 24 months from the closing of this offering, we will redeem all public shares at a per-share price, payable in cash,
    equal to the aggregate amount, then on deposit in the trust account (which is initially anticipated to be $10.00 per public
    share including interest earned on the funds held in the trust account and not previously released to us to pay our taxes
    (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding public shares.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Impact
    to remaining stockholders</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-top: 8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The redemptions in
    connection with our initial business combination will reduce the book value per share for our remaining stockholders, who
    will bear the burden of the deferred underwriting commissions and interest withdrawn in order to pay our taxes (to the extent
    not paid from amounts accrued as interest on the funds held in the trust account).</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-top: 8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If the permitted purchases
    described above are made there would be no impact to our remaining stockholders because the purchase price would not be paid
    by us.</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-top: 8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The redemption of our
    public shares if we fail to complete our initial business combination will reduce the book value per share for the shares
    held by our initial stockholders, who will be our only remaining stockholders after such redemptions.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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

<!-- Field: Page; Sequence: 91 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->87<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Comparison of This Offering to Those of Blank Check Companies
Subject to Rule&nbsp;419</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">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&nbsp;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&nbsp;419, and that the underwriters will not exercise their over-allotment
option. None of the provisions of Rule&nbsp;419 apply to our offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&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: 32%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 32%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Terms
    of Our Offering</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 34%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Terms
    Under a Rule&nbsp;419 Offering</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Escrow
    of offering proceeds</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$125,000,000 of the net proceeds of this offering
    and the sale of the private placement warrants will be deposited into a trust account in the United&nbsp;States at J.P. Morgan
    Chase Bank, N.A., with Continental Stock Transfer&nbsp;&amp; Trust Company acting as trustee .</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Approximately $110,250,000 of the offering proceeds,
    representing the gross proceeds of this offering, would 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">
    <TD STYLE="padding-top: 8pt; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Investment
    of net proceeds</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-top: 8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$125,000,000 of the
    net offering proceeds and the sale of the private placement warrants held in trust will be invested only in U.S. government
    treasury bills with a maturity of 185&nbsp;days or less or in money market funds meeting certain 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="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-top: 8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proceeds could be invested
    only in specified securities such as a money market fund meeting conditions of the Investment Company Act or in securities
    that are direct obligations of, or obligations guaranteed as to principal or interest by, the United&nbsp;States.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Receipt
    of interest on escrowed funds</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-top: 8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest on proceeds
    from the trust account to be paid to stockholders is reduced by (i)&nbsp;any taxes paid or payable, and (ii)&nbsp;in the event
    of our liquidation for failure to complete our initial business combination within the allotted time, up to $100,000 of net
    interest that may be released to us should we have no or insufficient working capital to fund the costs and expenses of our
    dissolution and liquidation.</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-top: 8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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">
    <TD STYLE="padding-top: 8pt; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Limitation
    on fair value or net assets of target business</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-top: 8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nasdaq rules require
    that we must complete one or more business combinations having an aggregate fair market value of at least 80% of the value
    of the assets held in the trust account (excluding the deferred underwriting commissions 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="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-top: 8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The fair value or net
    assets of a target business must represent at least 80% of the maximum offering proceeds.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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

<!-- Field: Page; Sequence: 92 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->88<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 32%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 32%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Terms
    of Our Offering</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 34%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Terms
    Under a Rule&nbsp;419 Offering</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Trading
    of securities issued</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We expect the units will begin trading on or
    promptly after the date of this prospectus. The Class&nbsp;A common stock and warrants comprising the units will begin separate
    trading on the 52<SUP>nd</SUP> day following the date of this prospectus unless B. Riley Securities, Inc. informs us of its
    decision to allow earlier separate trading, subject to our having filed the Current Report on Form&nbsp;8-K described below
    and having issued a press release announcing when such separate trading will begin. We will file the Current Report on Form&nbsp;8-K
    promptly after the closing of this offering, which is anticipated to take place three business days from the date of this
    prospectus. If the over-allotment option is exercised following the initial filing of such Current Report on Form&nbsp;8-K,
    an additional Current Report on Form&nbsp;8-K will be filed to provide updated financial information to reflect the exercise
    of the over-allotment option.</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No trading of the units or the underlying Class&nbsp;A
    common stock and warrants would be permitted until the completion of a business combination. During this period, the securities
    would be held in the escrow or trust account.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exercise
    of the warrants</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The warrants cannot be exercised until the later
    of 30&nbsp;days after the completion of our initial business combination or 12 months from the closing of this offering.</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The warrants could be exercised prior to the
    completion of a business combination, but securities received and cash paid in connection with the exercise would be deposited
    in the escrow or trust account.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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

<!-- Field: Page; Sequence: 93 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->89<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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="padding-bottom: 1pt; width: 32%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; white-space: nowrap; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 32%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Terms
    of Our Offering</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; white-space: nowrap; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 34%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Terms
    Under a Rule&nbsp;419 Offering</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Election
    to remain an investor</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We will provide our public stockholders with
    the opportunity to redeem their public shares for cash equal to their pro rata share of the aggregate amount then on deposit
    in the trust account as of two business days prior to the consummation of our initial business combination, including interest
    earned on the funds held in the trust account and not previously released to us to pay our taxes, upon the completion of our
    initial business combination, subject to the limitations described herein.</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A prospectus containing information pertaining
    to the business combination required by the SEC would be sent to each investor. Each investor would be given the opportunity
    to notify the company in writing, within a period of no less than 20 business days and no more than 45 business days from
    the effective date of a post-effective amendment to the company&rsquo;s registration statement, to decide if it elects to
    remain a stockholder of the company or require the return of 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>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We may not be required by law to hold a stockholder
    vote. We intend to give approximately 30&nbsp;days (but not less than 10&nbsp;days nor more than 60&nbsp;days) prior written
    notice of any such meeting, if required, at which a vote shall be taken to approve our initial business combination. If we
    are not required by law and do not otherwise decide to hold a stockholder vote, we will, pursuant to our amended and restated
    certificate of incorporation, conduct the redemptions pursuant to the tender offer rules of the SEC and file tender offer
    documents with the SEC which will contain substantially the same financial and other information about the initial business
    combination and the redemption rights as is required under the SEC&rsquo;s proxy rules. In the event we conduct redemptions
    pursuant to the tender offer rules, our offer to redeem will remain open for at least 20 business days, in accordance with
    Rule&nbsp;14e-1(a) under the Exchange Act, and we will not be permitted to complete our initial business combination until
    the expiration of the tender offer period. If, however, we hold a stockholder vote, we will, like many blank check companies,
    offer to redeem shares in conjunction with a proxy solicitation pursuant to the proxy rules. If we seek stockholder approval,
    we will complete our initial business combination only if a majority of the outstanding shares of common stock voted are voted
    in favor of the initial business combination. Additionally, each public stockholder may elect to redeem their public shares
    irrespective of whether they vote for or against the proposed transaction. A quorum for such meeting will consist of the holders
    present in person or by proxy of shares of outstanding capital stock of the company representing a majority of the voting
    power of all outstanding shares of capital stock of the company entitled to vote at such meeting.</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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

<!-- Field: Page; Sequence: 94 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->90<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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="padding-bottom: 1pt; width: 32%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; white-space: nowrap; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 32%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Terms
    of Our Offering</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; white-space: nowrap; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 34%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Terms
    Under a Rule&nbsp;419 Offering</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Business
    combination deadline</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If we do not complete an initial business combination
    within 24 months from the closing of this offering, we will (i)&nbsp;cease all operations except for the purpose of winding
    up, (ii)&nbsp;as promptly as reasonably possible but not more than ten business days thereafter, redeem 100% of the public
    shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account including
    interest earned on the funds held in the trust account and not previously released to us to pay our taxes (less up to $100,000
    of interest to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely
    extinguish public stockholders&rsquo; rights as stockholders (including the right to receive further liquidating distributions,
    if any), subject to applicable law, and (iii)&nbsp;as promptly as reasonably possible following such redemption, subject to
    the approval of our remaining stockholders and our board of directors, dissolve and liquidate, subject in each case to our
    obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law.</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If a business combination has not been completed
    within 18 months after the effective date of the company&rsquo;s registration statement, funds held in the trust or escrow
    account are returned to investors.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Limitation
    on redemption rights of stockholders holding more than 20% of the shares sold in this offering if we hold a stockholder vote</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-top: 8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If we seek stockholder
    approval of our initial business combination and we do not conduct redemptions in connection with our initial business combination
    pursuant to the tender offer rules, our amended and restated certificate of incorporation will provide that a public stockholder
    (including our affiliates), together with any affiliate of such stockholder or any other person with whom such stockholder
    is acting in concert or as a &ldquo;group&rdquo; (as defined under Section&nbsp;13 of the Exchange Act), will be restricted
    from seeking redemption rights with respect to Excess Shares (more than an aggregate of 20% of the shares sold in this offering).
    Our public stockholders&rsquo; inability to redeem Excess Shares will reduce their influence over our ability to complete
    our initial business combination and they could suffer a material loss on their investment in us if they sell any Excess Shares
    in open market transactions.</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-top: 8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Many
    blank check companies provide no restrictions on the ability of stockholders to redeem shares based on the number of shares
    held by such stockholders in connection with an initial business combination.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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

<!-- Field: Page; Sequence: 95 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->91<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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="padding-bottom: 1pt; width: 32%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; white-space: nowrap; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 32%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Terms
    of Our Offering</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; white-space: nowrap; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 34%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Terms
    Under a Rule&nbsp;419 Offering</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Tendering
    stock certificates in connection with a tender offer or redemption rights</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We may require our public stockholders seeking
    to exercise their redemption rights, whether they are record holders or hold their shares in &ldquo;street name,&rdquo; to
    either tender their certificates to our transfer agent prior to the date set forth in the tender offer documents mailed to
    such holders or up to two business days prior to the vote on the proposal to approve the initial business combination in the
    event we distribute proxy materials, or to deliver their shares to the transfer agent electronically using The Depository
    Trust Company&rsquo;s DWAC System, at the holder&rsquo;s option. The tender offer or proxy materials, as applicable, that
    we will furnish to holders of our public shares in connection with our initial business combination will indicate whether
    we are requiring public stockholders to satisfy such delivery requirements. Accordingly, a public stockholder would have from
    the time we send out our tender offer materials until the close of the tender offer period, or up to two days prior to the
    vote on the initial business combination if we distribute proxy materials, as applicable, to tender its shares if it wishes
    to seek to exercise its redemption rights.</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In order to perfect redemption rights in connection
    with their business combinations, holders could vote against a proposed initial business combination and check a box on the
    proxy card indicating such holders were seeking to exercise their redemption rights. After the business combination was approved,
    the company would contact such stockholders to arrange for them to deliver their certificate to verify ownership.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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

<!-- Field: Page; Sequence: 96 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->92<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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="padding-bottom: 1pt; width: 32%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; white-space: nowrap; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 32%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Terms
    of Our Offering</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; white-space: nowrap; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 34%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Terms
    Under a Rule&nbsp;419 Offering</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Release
    of funds</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Except with respect to interest earned on the
    funds held in the trust account that may be released to us to pay our tax obligations, the proceeds from this offering and
    the sale of the private placement warrants held in the trust account will not be released from the trust account until the
    earliest to occur of: (i)&nbsp;the completion of our initial business combination, (ii)&nbsp;the redemption of any public
    shares properly submitted in connection with a stockholder vote to amend our amended and restated certificate of incorporation
    (A)&nbsp;to modify the substance or timing of our obligation to redeem 100% of our public shares if we do not complete our
    initial business combination within 24 months from the closing of this offering or (B)&nbsp;with respect to any other provision
    relating to stockholders&rsquo; rights or pre-business combination activity and (iii)&nbsp;the redemption of 100% of our public
    shares if we are unable to complete an initial business combination within the required time frame (subject to the requirements
    of applicable law). On the completion of our initial business combination, all amounts held in the trust account will be released
    to us, less amounts released to a separate account controlled by the trustee for disbursal to redeeming stockholders. We will
    use these funds to pay amounts due to any public stockholders who exercise their redemption rights as described above under
    &ldquo;Redemption rights for public stockholders upon completion of our initial business combination,&rdquo; to pay the underwriters
    their deferred underwriting commissions, to pay all or a portion of the consideration payable to the target or owners of the
    target of our initial business combination and to pay other expenses associated with our initial business combination.</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In identifying, evaluating and selecting
a target business for our initial business combination, we may encounter competition from other entities having a business objective
similar to ours, including other blank check companies, private equity groups and leveraged buyout funds, and operating businesses
seeking strategic business combinations. Many of these entities are well established and have extensive experience identifying
and effecting business combinations directly or through affiliates. Moreover, many of these competitors possess greater financial,
technical, human and other resources than we do. Our ability to acquire larger target businesses will be limited by our available
financial resources. This inherent limitation gives others an advantage in pursuing the initial business combination of a target
business. Furthermore, our obligation to pay cash in connection with our public stockholders who exercise their redemption rights
may reduce the resources available to us for our initial business combination and our outstanding warrants, and the future dilution
they potentially represent, may not be viewed favorably by certain target businesses. Either of these factors may place us at
a competitive disadvantage in successfully negotiating an initial business combination.</P>

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

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

<!-- Field: Page; Sequence: 97 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->93<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our executive offices are located at 360
Madison Avenue, 20th Floor, New York, NY 10017 and our telephone number is (212) 616-7700. Our executive offices are provided
to us by our sponsor. Commencing on the date of this prospectus, we have agreed to pay our sponsor a total of $10,000 per month
for office space, utilities and secretarial and administrative support. We consider our current office space adequate for our
current operations.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We currently have 2 officers. These individuals
are not obligated to devote any specific number of hours to our matters but they intend to devote as much of their time as they
deem necessary to our affairs until we have completed our initial business combination. The amount of time they will devote in
any time period will vary based on whether a target business has been selected for our initial business combination and the stage
of the initial business combination process we are in. We do not intend to have any full-time employees prior to the completion
of our initial business combination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Periodic Reporting and Financial Information</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We will register our units, Class&nbsp;A
common stock and warrants under the Exchange Act and have reporting obligations, including the requirement that we file annual,
quarterly and current reports with the SEC. In accordance with the requirements of the Exchange Act, our annual reports will contain
financial statements audited and reported on by our independent registered public accountants.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We will provide stockholders with audited
financial statements of the prospective target business as part of the tender offer materials or proxy solicitation materials
sent to stockholders to assist them in assessing the target business. In all likelihood, these financial statements will need
to be prepared in accordance with, or reconciled to, GAAP, or IFRS, depending on the circumstances, and the historical financial
statements may be required to be audited in accordance with the standards of the PCAOB. These financial statement requirements
may limit the pool of potential targets we may conduct an 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. We cannot assure you that any particular target business identified
by us as a potential business combination candidate will have financial statements prepared in accordance with GAAP or that the
potential target business will be able to prepare its financial statements in accordance with the requirements outlined above.
To the extent that these requirements cannot be met, we may not be able to acquire the proposed target business. While this may
limit the pool of potential business combination candidates, we do not believe that this limitation will be material.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We will be required to evaluate our internal
control procedures for the fiscal year ending December 31, 2021 as required by the Sarbanes-Oxley Act. Only in the event we are
deemed to be a large accelerated filer or an accelerated filer, and no longer qualify as an emerging growth company, will we be
required to have our internal control procedures audited. A target company may not be in compliance with the provisions of the
Sarbanes-Oxley Act regarding adequacy of their internal controls. The development of the internal controls of any such entity
to achieve compliance with the Sarbanes-Oxley Act may increase the time and costs necessary to complete any such business combination.
Prior to the date of this prospectus, we will file a Registration Statement on Form&nbsp;8-A with the SEC to voluntarily register
our securities under Section&nbsp;12 of the Exchange Act. As a result, we will be subject to the rules and regulations promulgated
under the Exchange Act. We have no current intention of filing a Form&nbsp;15 to suspend our reporting or other obligations under
the Exchange Act prior or subsequent to the consummation of our initial business combination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 98 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->94<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We will remain an emerging growth company
until the earlier of (1)&nbsp;the last day of the fiscal year (a)&nbsp;following the fifth anniversary of the completion of this
offering, (b)&nbsp;in which we have total annual gross revenue of at least $1.07 billion, or (c)&nbsp;in which we are deemed to
be a large accelerated filer, which means the market value of our shares of Class&nbsp;A common stock that are held by non-affiliates
exceeds $700 million as of the prior June 30<SUP>th</SUP>, and (2)&nbsp;the date on which we have issued more than $1.0 billion
in non-convertible debt securities during the prior three-year period.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">There is no material litigation, arbitration
or governmental proceeding currently pending against us or any members of our management team in their capacity as such.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 99 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->95<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="s4_001"></A><B>MANAGEMENT</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Officers, Directors and Director Nominees</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our officers, directors and director nominees
are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&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: 32%; border-bottom: black 1pt solid; padding-right: 3pt"><FONT STYLE="font-size: 10pt"><B>Name</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 5%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Age</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 61%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Position</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Stephen C. Smith</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;60</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Chairman of the Board and Chief Executive
    Officer </FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Michael Ring</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;44</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Chief Financial Officer </FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Jay Burnham</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;57</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Director Nominee</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Shelley Greenhaus </FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;67</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Director Nominee</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Jeremy Hedberg</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;48</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Director Nominee</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Charles Yamarone </FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;61</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Director Nominee</FONT></TD></TR>
</TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Stephen C. Smith, Chairman and Chief
Executive Officer</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Stephen C. Smith, our Chairman and Chief
Executive Officer, founded Seaport Global Asset Management LLC, an SEC registered investment advisor and a wholly-owned subsidiary
of Seaport Global Holdings LLC, in August 2017. Mr. Smith currently serves as SGAM&rsquo;s Chief Executive Officer and Chairman
of its Investment Committee and oversees all of SGAM&rsquo;s investing and business activities. In April 2001, Mr. Smith co-founded
The Seaport Group LLC (currently known as SGH), which is a full-service, mid-sized independent investment bank that offers capital
markets advisory, sales, trading and research services. Prior to that, from December 1999 to March 2001, Mr. Smith was a managing
director at Amroc Securities, LLC, a financial service firm, where he focused on distressed sales and trading. In June 1991, he
co-founded a distressed debt broker-dealer, Libra Investments, Inc., which was acquired by U.S. Bancorp in January 1999. Mr. Smith
began his career at Merrill Lynch in 1982 and from 1984 to 1988 he ran the taxable fixed income trading desk for its unit trust
department. In addition, Mr. Smith worked as a salesperson at S.N. Phelps &amp; Co., a financial management firm, from 1988 to
1989 and Jefferies &amp; Company, a financial services company, from 1989 to 1991. Mr. Smith received a Bachelor of Science degree
in Finance from Indiana University. He is well qualified to serve as our Chairman and Chief Executive given his extensive experience
in distressed debt, restructurings, and transaction expertise.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Michael Ring, our Chief Financial Officer,
has been serving as Chief Financial Officer and Chief Compliance Officer at SGAM since February 2018 and Chief Financial Officer
of Seaport Specialty Lending LLC, a specialty finance company, since August 2019. Prior to joining SGAM, he served as Chief Financial
Officer and Chief Compliance Officer at Alta Fundamental Advisers, LLC, an SEC registered investment adviser, from May 2013 to
February 2018, where he was responsible for managing all finance, compliance, and operational functions, including financial reporting,
treasury &amp; cash management, corporate finance, regulatory compliance matters and investor relations. Prior to that, Mr. Ring
worked as Chief Financial Officer and Chief Compliance Officer for Eastwind Global Partners, an asset manager company, from March
2012 to June 2013. From May 2004 to June 2012, he worked as controller, operations manager and Chief Compliance Officer at Restoration
Capital Management LLC, an SEC registered investment adviser. Prior to Restoration Capital Management, Mr. Ring worked for State
Street Bank and Sumitomo Trust and Banking in their securities lending departments, and at Scudder Kemper Investments as a fund
accountant in 1999. Mr. Ring received a Bachelor of Science degree in Finance from University of Massachusetts, Dartmouth and
received a Master of Science in Accounting from St. John&rsquo;s University.</P>

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

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

<!-- Field: Page; Sequence: 100 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->96<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Jay Burnham, our director nominee, is a
member of SGAM&rsquo;s Investment Committee and the Managing Member of Sunset Way LLC, an asset management company. Mr. Burnham
previously served as a Portfolio Manager and Managing Member of Armory Advisors, LLC, a special situations and distressed debt
asset management firm that is affiliated with SGAM. Prior to joining Armory Advisors, LLC, Mr. Burnham was a portfolio manager
at Cypress Management, LLC, an investment management firm, from May 2003 to June 2004. From November 2001 to May 2003, Mr. Burnham
was an Investment Manager at Rocker Management, LLC, an investment management company, where he was responsible for distressed
debt and equity investments in companies in a variety of industries and participated as a major creditor in the restructuring
of XM Satellite Radio. From April 1999 to November 2001, he was a founder and an investment manager at Reprise Capital Partners,
LLC, a distressed debt investment firm. From March 1996 to March 1999, Mr. Burnham was an Investment Manager at DDJ Capital Management,
LLC, an investment management company. From January 1995 to February 1996, he was an investment analyst at Libra Investments,
Inc., a distressed debt broker-dealer founded by our Chairman. From June 1990 to November 1994, he was an investment manager at
Paul D. Sonz Partners, an investment management company. Mr. Burnham has acted as a director of a number of public and private
companies in turnaround situations, including acting as a director of Live Entertainment, Inc. (Nasdaq: LVE), a film distribution
company that was acquired by Bain Capital in 1997 and became Artisan Entertainment, Inc., Bally&rsquo;s Grand, Inc. (Nasdaq: BGLV),
a gaming and entertainment company that was acquired by Bally&rsquo;s Entertainment Corp., and New Millennium Homes, LLC, a California
based homebuilding company. Mr. Burnham received a Bachelor of Arts degree in Business Economics from University of California
Santa Barbara and an M.B.A. degree from Pepperdine University. He is well qualified to serve on our board due to his extensive
experience in distressed debt and equity investments and public companies.</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Shelley Greenhaus our director nominee,
is the founder and President of Whippoorwill Associates, Inc., which manages investments in corporate reorganizations, liquidations
and other related activities and was founded in December 1990. Prior to that, from 1983 to 1990, he worked as a portfolio manager
at Oppenheimer &amp; Co. Inc., a full-service brokerage firm and investment bank, with responsibility for distressed investments.<FONT STYLE="color: #1F497D">&nbsp;
</FONT>From 1981 to 1983<FONT STYLE="color: #1F497D">,</FONT>&nbsp;Mr. Greenhaus became a financial analyst and portfolio manager
for the William Rosenwald Family, a family office, where he was primarily involved in analyzing and managing investments involving
corporate reorganizations, liquidations and related special situations.&nbsp;<FONT STYLE="color: #1F497D">&nbsp;</FONT>He began
his business career in 1978, working as a financial analyst at Loeb, Rhoades, Hornblower &amp; Co., a brokerage company, where
he was primarily involved in analyzing risk arbitrage opportunities and distressed securities.<FONT STYLE="color: #1F497D">&nbsp;
</FONT>From January 1999 to October 2003, Mr. Greenhaus served on the board of directors of Barneys New York, Inc. (Nasdaq: BNNY),
a fashion retailer; from October 1998 to December 2004, he served on the board of director of Marvel Enterprises, Inc. (NYSE:
MVL), a content entertainment company; and from November 1996 to December 2004, he served on the board of directors of GWI Holding,
Inc. (Garden Way), a privately held power equipment company.&nbsp;&nbsp;In October 2017, he joined the board of directors of Commercial
Furniture Group, Inc., a commercial furnishings company. Mr. Greenhaus received his Bachelor of Arts in Political Science from
York College (City University of New York) and an M.B.A. degree from New York University Stern School of Business. He is well
qualified to serve on our board due to his extensive corporate reorganization and distressed securities experience.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B>Jeremy Hedberg,
Director Nominee</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Mr. Jeremy Hedberg, our director nominee,
has worked as a Partner, Co-Chief Investment Officer and Co-Head of Corporate and Traded Credit at V&auml;rde Partners, Inc. (&ldquo;V&auml;rde&rdquo;),
a global alternative investment advisor currently managing $14 billion that has invested over $70 billion since inception. He
joined V&auml;rde in November 1997 and has managed V&auml;rde&rsquo;s liquid investing activities globally and led V&auml;rde&rsquo;s
significant investments in the residential mortgage sector in the U.S. He has served on a number of boards of portfolio companies
owned by the V&auml;rde funds. He has also served on many official creditors&rsquo; committees and a number of adhoc committees
to restructure companies in bankruptcy, including, but not limited to, Capmark Financial Group, Inc. a commercial finance company,
Chiquita Brands International, Inc., a global fruit and food company, and Flag Telecom Holdings Ltd, a provider of international
wholesale network services. Prior to joining V&auml;rde, Jeremy worked for Goldner Hawn Johnson &amp; Morrison, a private equity
fund specializing in middle-market leveraged buyouts, from June 1996 to October 1997. He also previously worked for Wessels, Arnold
 &amp; Henderson, a full-service investment bank specializing in high-growth companies, from May 1994 to June 1996. Mr. Hedberg
receive a Bachelor of Arts degree in Economics and Business Administration from University of St. Thomas. He is well qualified
to serve on our board due to his extensive alternative investment and corporate restructure experience.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B>Charles Yamarone,
Director Nominee</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Mr. Charles Yamarone, our director nominee,
has served as the Chief Corporate Governance and Compliance Officer of Houlihan Lokey (NYSE: HLI), a global investment bank, since
January 2016, where he advises senior management on all aspects of Houlihan Lokey&rsquo;s corporate governance, compliance and
internal audit, including Houlihan Lokey&rsquo;s initial public offering in August 2015. From January 2014 to May 2015, he was
a Managing Director in Houlihan Lokey&rsquo;s capital markets group, where he had been a senior investment banker since November
2009.&nbsp; Between 1991 and 2009, Mr. Yamarone was a senior officer of Libra Securities, an institutional broker dealer, and
he was involved in all areas of Libra Securities&rsquo; business, including capital markets, corporate finance, sales and trading,
research, legal, compliance, and operations.&nbsp; From January 1996 to July 2020, Mr. Yamarone was a director of the El Paso
Electric Company (NYSE: EE), where he served as chairman of the audit committee, compensation committee and a member of the energy
and resource committee. He was the Chairman of the Board of El Paso Electric from February 2015 until July 2020. From October
2010 to June 2016, Mr. Yamarone served as a member of the board of directors, chair of the compensation committee, a member of
the executive committee and audit committee of United Continental Holdings, Inc. (NYSE: UAL).&nbsp; From February 1995 to October
2010, Mr. Yamarone served as a member of the board of directors of Continental Airlines, Inc. (NYSE: CAL), where he was chairman
of the human resources committee and a member of the corporate governance committee.&nbsp; He previously served as a director
of other companies, including Bally's Grand, Inc., (Nasdaq: BGLV), a gaming and entertainment company that was acquired by Bally&rsquo;s
Entertainment Corp., LIVE Entertainment, Inc. (Nasdaq: LVE), a film distribution company that was acquired by Bain Capital in
1997 and became Artisan Entertainment, Inc., Merry-Go-Round Enterprises, Inc. (NYSE: MGRE), a national clothing retail chain,
and Vagabond Inn Corporation, a hotel chain. Mr. Yamarone holds a B.A. in Economics and a J.D. from University of California,
Berkeley. Mr. Yamarone is well qualified to serve on our board due to his extensive knowledge of capital markets, corporate finance,
corporate governance, internal controls over financial reporting and auditing, as well as his public company experience.</P>

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

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

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

<!-- Field: Page; Sequence: 101 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->97<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Number and Terms of Office of Officers and Directors</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We will have 5 directors upon completion
of this offering. Our board of directors will be divided into three classes with only one class of directors being elected in
each year and each class (except for those directors appointed prior to our first annual meeting of stockholders) serving a three-year
term. 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. The term of office of the first class of directors, consisting
of Mr. Yamarone, will expire at our first annual meeting of stockholders. The term of office of the second class of directors,
consisting of Messrs. Greenhaus and Hedberg, will expire at the second annual meeting of stockholders. The term of office of the
third class of directors, consisting of Messrs. Smith and Burnham, will expire at the third annual meeting of stockholders.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">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 officers
may consist of a Chairman of the Board, Chief Executive Officer, Chief Financial Officer, President, Vice Presidents, Secretary,
Treasurer, Assistant Secretaries and such other offices as may be determined by the board of directors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Pursuant to an agreement to be entered into
on or prior to the closing of this offering, our sponsor, upon and following consummation of an initial business combination,
will be entitled to nominate three individuals for election to our board of directors, as long as the sponsor holds any securities
covered by the registration and shareholder rights agreement.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Nasdaq listing standards require 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 has determined that Messrs. Greenhaus, Hedberg and Yamarone are
 &ldquo;independent directors&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 Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Officer and Director Compensation</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">None of our officers has received any cash
compensation for services rendered to us. Commencing on the date of this prospectus, we have agreed to pay our sponsor a total
of $10,000 per month for office space, utilities and secretarial and administrative support. Upon completion of our initial business
combination or our liquidation, we will cease paying these monthly fees. No compensation of any kind, including any finder&rsquo;s
fee, reimbursement or consulting fee, will be paid by us to our sponsor, officers and directors, or any affiliate of our sponsor
or officers, prior to, or in connection with any services rendered in order to effectuate, the consummation of our initial business
combination (regardless of the type of transaction that it is). However, these individuals will be reimbursed for any out-of-pocket
expenses incurred in connection with activities on our behalf such as identifying potential target businesses and performing due
diligence on suitable business combinations. We do not have a policy that prohibits our sponsor, executive officers or directors,
or any of their respective affiliates, from negotiating for the reimbursement of out-of-pocket expenses by a target business.
Our audit committee will review on a quarterly basis all payments that were made to our sponsor, officers or directors, or our
or their affiliates. Any such payments prior to an initial business combination will be made using funds held outside the trust
account. Other than quarterly audit committee review of such payments, we do not expect to have any additional controls in place
governing our reimbursement payments to our directors and executive officers for their out-of-pocket expenses incurred in connection
with identifying and consummating an initial business combination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 102 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->98<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">After the completion of our initial business
combination, directors or members of our management team who remain with us may be paid consulting or management fees from the
combined company. All of these fees will be fully disclosed to stockholders, to the extent then known, in the tender offer materials
or proxy solicitation materials furnished to our stockholders in connection with a proposed initial business combination. We have
not established any limit on the amount of such fees that may be paid by the combined company to our directors or members of management.
It is unlikely the amount of such compensation will be known at the time of the proposed initial business combination, because
the directors of the post-combination business will be responsible for determining officer and director compensation. Any compensation
to be paid to our officers will be determined, or recommended to the board of directors for determination, either by a compensation
committee constituted solely by independent directors or by a majority of the independent directors on our board of directors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We do not intend to take any action to ensure
that members of our management team maintain their positions with us after the consummation of our initial business combination,
although it is possible that some or all of our officers and directors may negotiate employment or consulting arrangements to
remain with us after our initial business combination. The existence or terms of any such employment or consulting arrangements
to retain their positions with us may influence our management&rsquo;s motivation in identifying or selecting a target business
but we do not believe that the ability of our management to remain with us after the consummation of our initial business combination
will be a determining factor in our decision to proceed with any potential business combination. We are not party to any agreements
with our officers and directors that provide for benefits upon termination of employment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Committees of the Board of Directors</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our board of directors will have two standing
committees: an audit committee and a compensation committee. Subject to phase-in rules and a limited exception, Nasdaq rules and
Rule 10A-3 of the Exchange Act require that the audit committee of a listed company be comprised solely of independent directors,
and Nasdaq rules require that the compensation committee of a listed company be comprised solely of independent directors.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Prior to the consummation of this offering,
we will establish an audit committee of the board of directors. Messrs. Greenhaus, Hedberg and Yamarone will serve as members
of our audit committee, and Mr. Yamarone will chair the audit committee. Under the Nasdaq listing standards and applicable SEC
rules, we are required to have at least three members of the audit committee, all of whom must be independent. Each of Messrs.
Greenhaus, Hedberg and Yamarone meet the independent director standard under Nasdaq listing standards and under Rule&nbsp;10-A-3(b)(1)
of the Exchange Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Each member of the audit committee is financially
literate and our board of directors has determined that Mr. Yamarone qualifies as an &ldquo;audit committee financial expert&rdquo;
as defined in applicable SEC rules.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We will adopt an audit committee charter,
which will detail the principal functions of the audit committee, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: left">the appointment,
                                         compensation, retention, replacement, and oversight of the work of the independent registered
                                         public accounting firm engaged by us;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: left">pre-approving
                                         all audit and permitted non-audit services to be provided by the independent registered
                                         public accounting firm engaged by us, and establishing pre-approval policies and procedures;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: left">setting
                                         clear hiring policies for employees or former employees of the independent registered
                                         public accounting firm, including but not limited to, as required by applicable laws
                                         and regulations;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">setting
                                         clear policies for audit partner rotation in compliance with applicable laws and regulations;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: left">obtaining
                                         and reviewing a report, at least annually, from the independent registered public accounting
                                         firm describing (i) the independent registered public accounting firm&rsquo;s internal
                                         quality-control procedures, (ii)&nbsp;any material issues raised by the most recent internal
                                         quality-control review, or peer review, of the audit firm, or by any inquiry or investigation
                                         by governmental or professional authorities within the preceding five years respecting
                                         one or more independent audits carried out by the firm and any steps taken to deal with
                                         such issues and (iii) all relationships between the independent registered public accounting
                                         firm and us to assess the independent registered public accounting firm&rsquo;s independence;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"></P>

<!-- Field: Page; Sequence: 103 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->99<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: left">reviewing
                                         and approving any related party transaction required to be disclosed pursuant to Item
                                         404 of Regulation S-K promulgated by the SEC prior to us entering into such transaction;
                                         and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: left">reviewing
                                         with management, the independent registered public accounting firm, and our legal advisors,
                                         as appropriate, any legal, regulatory or compliance matters, including any correspondence
                                         with regulators or government agencies and any employee complaints or published reports
                                         that raise material issues regarding our financial statements or accounting policies
                                         and any significant changes in accounting standards or rules promulgated by the Financial
                                         Accounting Standards Board, the SEC or other regulatory authorities.</TD>
</TR></TABLE>

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

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

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

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Prior to the consummation
of this offering, we will establish a compensation committee of the board of directors. Messrs. Greenhaus and Yamarone will serve
as members of our compensation committee. Under the Nasdaq listing standards and applicable SEC rules, we are required to have
at least two members of the compensation committee, all of whom must be independent. Messrs. Greenhaus and Yamarone are independent
and Mr. Greenhaus will chair the compensation committee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We will adopt a compensation committee charter,
which will detail the principal functions of the compensation committee, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: left">reviewing
                                         and approving on an annual basis the corporate goals and objectives relevant to our Chief
                                         Executive Officer&rsquo;s compensation, if any is paid by us, evaluating our Chief Executive
                                         Officer&rsquo;s performance in light of such goals and objectives and determining and
                                         approving the remuneration (if&nbsp;any) of our Chief Executive Officer based on such
                                         evaluation;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">reviewing
                                         and approving on an annual basis the compensation, if any is paid by us, of all of our
                                         other officers;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">reviewing
                                         on an annual basis our executive compensation policies and plans;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">implementing
                                         and administering our incentive compensation equity-based remuneration plans;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">assisting
                                         management in complying with our proxy statement and annual report disclosure requirements;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: left">approving
                                         all special perquisites, special cash payments and other special compensation and benefit
                                         arrangements for our officers and employees;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">if required,
                                         producing a report on executive compensation to be included in our annual proxy statement;
                                         and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">reviewing,
                                         evaluating and recommending changes, if appropriate, to the remuneration for directors.</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Notwithstanding the foregoing, as indicated
above, other than the payment to our sponsor of $10,000 per month, for up to 24 months, for office space, utilities and secretarial
and administrative support and reimbursement of expenses, no compensation of any kind, including finders, consulting or other
similar fees, will be paid to any of our existing stockholders, officers, directors or any of their respective affiliates, prior
to, or for any services they render in order to effectuate the consummation of an initial business combination. Accordingly, it
is likely that prior to the consummation of an initial business combination, the compensation committee will only be responsible
for the review and recommendation of any compensation arrangements to be entered into in connection with such initial business
combination.</P>

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

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

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

<!-- Field: Page; Sequence: 104 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->100<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">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 of the Nasdaq rules, a majority of the independent directors may recommend a director nominee for
selection by the board of directors. The board of directors believes that the independent directors can satisfactorily carry out
the responsibility of properly selecting or approving director nominees without the formation of a standing nominating committee.
The directors who will participate in the consideration and recommendation of director nominees are Messrs. Greenhaus, Hedberg
and Yamarone. In accordance with Rule 5605 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 Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">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 our board of directors should follow the procedures set forth in our bylaws.</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Prior to the consummation of this offering,
we will have adopted a Code of Ethics applicable to our directors, officers and employees. We will file a copy of our Code of
Ethics and our audit and compensation committee charters as exhibits to the registration statement of which this prospectus is
a part. You will be able to review these documents by accessing our public filings at the SEC&rsquo;s web site at <I>www.sec.gov</I>.
In addition, a copy of the Code of Ethics will be provided without charge upon request from us. We intend to disclose any amendments
to or waivers of certain provisions of our Code of Ethics in a Current Report on Form 8-K. See the section of this prospectus
entitled &ldquo;Where You Can Find Additional Information.&rdquo;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Each of our officers and directors presently
has, and any of them in the future may have additional, fiduciary or contractual obligations to other entities (including investment
vehicles that may pursue investment opportunities suitable for us) pursuant to which such officer or director is or will be required
to present a business combination opportunity. Accordingly, if any of our officers or directors becomes aware of a business combination
opportunity which is suitable for an entity to which he or she has then-current fiduciary or contractual obligations to present
the opportunity to such entity, he or she will honor his or her fiduciary or contractual obligations to present such opportunity
to such entity. We believe, however, that the fiduciary duties or contractual obligations of our officers or directors will not
materially affect our ability to complete our initial business combination, as we believe any such opportunities presented would
be smaller than what we are interested in, in different fields than what we would be interested in, or to entities that are not
themselves in the business of engaging in business combinations. Our amended and restated certificate of incorporation will provide
that we renounce our interest in any corporate opportunity offered to any director or officer unless such opportunity is expressly
offered to such person solely in his or her capacity as a director or officer of our company and such opportunity is one we are
legally and contractually permitted to undertake and would otherwise be reasonable for us to pursue, and to the extent the director
or officer is permitted to refer that opportunity to us without violating another legal obligation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our officers have agreed not to become an
officer of any other special purpose acquisition company with a class of securities intended to be registered under the Securities
Exchange Act of 1934, as amended, or the Exchange Act, which has publicly filed a registration statement with the SEC until we
have entered into a definitive agreement regarding our initial business combination or we have failed to complete our initial
business combination within 24 months from the consummation of this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 105 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->101<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Potential investors should also be aware
of the following other potential conflicts of interest:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: left">None of
                                         our officers or directors is required to commit his or her full time to our affairs and,
                                         accordingly, may have conflicts of interest in allocating his or her time among various
                                         business activities.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: left">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 us as well as
                                         the other entities (including investment vehicles that may pursue investment opportunities
                                         suitable for us) with which they are affiliated. Our management may have conflicts of
                                         interest in determining to which entity a particular business opportunity should be presented.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: left">Our initial
                                         stockholders have agreed to waive their redemption rights with respect to any founder
                                         shares and any public shares held by them in connection with the consummation of our
                                         initial business combination. Additionally, our initial stockholders have agreed to waive
                                         their redemption rights with respect to any founder shares held by them if we fail to
                                         consummate our initial business combination within 24 months after the closing of this
                                         offering. If we do not complete our initial business combination within such applicable
                                         time period, the proceeds of the sale of the private placement warrants held in the trust
                                         account will be used to fund the redemption of our public shares, and the private placement
                                         warrants will expire worthless. With certain limited exceptions, the founder shares will
                                         not be transferable, assignable by our sponsor until the earlier of: (A) one year after
                                         the completion of our initial business combination or (B) subsequent to our initial business
                                         combination, (x) if the last sale price of our Class A common stock equals or exceeds
                                         $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations
                                         and the like) for any 20 trading days within any 30-trading day period commencing at
                                         least 150 days after our initial business combination, or (y) the date on which we complete
                                         a liquidation, merger, capital stock exchange, reorganization or other similar transaction
                                         that results in all of our stockholders having the right to exchange their shares of
                                         common stock for cash, securities or other property. With certain limited exceptions,
                                         the private placement warrants and the Class A common stock underlying such warrants,
                                         will not be transferable, assignable or saleable by our sponsor or its permitted transferees
                                         until 30 days after the completion of our initial business combination. Since our sponsor
                                         and officers and directors may directly or indirectly own common stock and warrants following
                                         this offering, our officers and directors may have a conflict of interest in determining
                                         whether a particular target business is an appropriate business with which to effectuate
                                         our initial business combination.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: left">Our officers
                                         and directors may have a conflict of interest with respect to evaluating a particular
                                         business combination if the retention or resignation of any such officers and directors
                                         were to be included by a target business as a condition to any agreement with respect
                                         to our initial business combination.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: left">Our sponsor,
                                         officers or directors may have a conflict of interest with respect to evaluating a business
                                         combination and financing arrangements as we may obtain loans from our sponsor or an
                                         affiliate of our sponsor or any of our officers or directors to finance transaction costs
                                         in connection with an intended initial business combination. Up to $1,500,000 of such
                                         loans may be convertible into warrants at a price of $1.00 per warrant at the option
                                         of the lender. Such warrants would be identical to the private placement warrants, including
                                         as to exercise price, exercisability and exercise period.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The conflicts described above may not be
resolved in our favor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">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 Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">the corporation
                                         could financially undertake the opportunity;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">the opportunity
                                         is within the corporation&rsquo;s line of business; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: left">it would
                                         not be fair to our company and its stockholders for the opportunity not to be brought
                                         to the attention of the corporation.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">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 (including investment vehicles that may pursue investment opportunities suitable
for us). Furthermore, our amended and restated certificate of incorporation will provide that we renounce our interest in any
corporate opportunity offered to any director or officer unless such opportunity is expressly offered to such person solely in
his or her capacity as a director or officer of our company and such opportunity is one we are legally and contractually permitted
to undertake and would otherwise be reasonable for us to pursue, and to the extent the director or officer is permitted to refer
that opportunity to us without violating another legal obligation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 106 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->102<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Below is a table summarizing the entities
to which our executive officers, directors and director nominees currently have fiduciary duties:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&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: 20%; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Individual</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 2%">&nbsp;</TD>
    <TD STYLE="width: 34%; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Entity</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 2%">&nbsp;</TD>
    <TD STYLE="width: 20%; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Entity&rsquo;s
    Business</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 2%">&nbsp;</TD>
    <TD STYLE="width: 20%; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Affiliation</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stephen C. Smith(1)</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Seaport Global Holdings, LLC </FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Asset Management / Securities Brokerage / Other</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer / Principal</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michael Ring</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Seaport Global Asset Management LLC</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Asset Management</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Financial Officer / Chief Compliance Officer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jay Burnham</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Seaport Global Asset Management LLC</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Asset Management</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Senior Advisor / Investment Committee</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shelley Greenhaus</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Commercial Furniture Group, Inc.</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Furnishings</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Board of Directors</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jeremy Hedberg</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">V&auml;rde Partners,
    Inc.</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Asset Management</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Senior Advisor / Investment Committee</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Charles Yamarone</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Houlihan Lokey,
    Inc. </FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment Banking</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Corporate Governance &amp; Compliance
    Officer</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt">(1)</TD><TD>Mr. Smith, our Chairman and Chief Executive Officer, is
                                         the Chairman of Seaport Global Holdings, LLC, which is the holding company that has sole
                                         ownership of Seaport Global Asset Management, LLC (and its affiliates), and Seaport Global
                                         Securities, LLC, a broker dealer that executes transactions on behalf of Seaport Global
                                         Asset Management LLC and third party clients.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Accordingly, if any of the above executive
officers, directors or director nominees becomes aware of a business combination opportunity which is suitable for any of the
above entities to which he or she has current 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We are not prohibited from pursuing an initial
business combination with a company that is affiliated with our sponsor, officers or directors (including any investment vehicles
to which any of the foregoing provide investment advice). In the event we seek to complete our initial business combination with
such a company, we, or a committee of independent directors, would obtain an opinion from an independent investment banking firm
or from another independent entity that commonly renders valuation opinions, that such an initial business combination is fair
to our company from a financial point of view.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In the event that we submit our initial
business combination to our public stockholders for a vote, pursuant to the letter agreement, our sponsor, officers and directors
have agreed to vote any founder shares held by them and any public shares purchased during or after the offering (including in
open market and privately negotiated transactions) in favor of our initial business combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Limitation on Liability and Indemnification of Officers
and Directors</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our amended and restated certificate of
incorporation will provide that our officers and directors will be indemnified by us to the fullest extent authorized by Delaware
law, as it now exists or may in the future be amended. In addition, our amended and restated certificate of incorporation will
provide that our directors will not be personally liable for monetary damages to us or our stockholders 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 107 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->103<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We will enter into agreements with our officers
and directors to provide contractual indemnification in addition to the indemnification provided for in our amended and restated
certificate of incorporation. Our bylaws also 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 such indemnification. We
will purchase a policy of directors&rsquo; and officers&rsquo; liability insurance that insures our officers and directors against
the cost of defense, settlement or payment of a judgment in some circumstances and insures us against our obligations to indemnify
our officers and directors. Except with respect to any public shares they may acquire in this offering or thereafter (in&nbsp;the
event we do not consummate an initial business combination), our officers and directors have agreed to waive (and any other persons
who may become an officer or director prior to the initial business combination will also be required to waive) any right, title,
interest or claim of any kind in or to any monies in the trust account, and not to seek recourse against the trust account for
any reason whatsoever, including with respect to such indemnification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">These provisions may discourage stockholders
from bringing a lawsuit against our directors for breach of their fiduciary duty. These provisions also may have the effect of
reducing the likelihood of derivative litigation against officers and directors, even though such an action, if successful, might
otherwise benefit us and our stockholders. Furthermore, a stockholder&rsquo;s investment may be adversely affected to the extent
we pay the costs of settlement and damage awards against officers and directors pursuant to these indemnification provisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We believe that these provisions, the directors&rsquo;
and officers&rsquo; liability insurance and the indemnity agreements are necessary to attract and retain talented and experienced
officers and directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 108 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->104<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="s4_002"></A><B>PRINCIPAL STOCKHOLDERS</B></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The following table sets forth information
regarding the beneficial ownership of our common stock as of the date of this prospectus, and as adjusted to reflect the sale
of our common stock included in the units offered by this prospectus, and assuming no purchase of units in this offering, by:</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">each
                                         person known by us to be the beneficial owner of more than 5% of our outstanding shares
                                         of common stock;</TD>
</TR></TABLE>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">each
                                         of our executive officers, directors and director nominees that beneficially owns shares
                                         of our common stock; and</TD>
</TR></TABLE>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">all our
                                         executive officers, directors and director nominees as a group.</TD>
</TR></TABLE>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Unless otherwise indicated, we believe that
all persons named in the table have sole voting and investment power with respect to all shares of common stock beneficially owned
by them. The following table does not reflect record or beneficial ownership of the private placement warrants as these warrants
are not exercisable within 60 days of the date of this prospectus.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In July 2020, our sponsor purchased 3,593,750
founder shares for an aggregate purchase price of $25,000, or approximately $0.007 per share. The following table presents the
number of shares and percentage of our common stock owned by our initial stockholders before and after this offering. The post-offering
numbers and percentages presented assume that the underwriters do not exercise their over-allotment option, that our sponsor forfeit
468,750 founder shares on a pro rata basis, and that there are 15,625,000 shares of our common stock, consisting of (i) 12,500,000
shares of our Class A common stock and (ii) 3,125,000 shares of our Class B common stock, issued and outstanding after this offering.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&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="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-top: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Before Offering</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="4" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>After Offering</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3pt; width: 50%"><FONT STYLE="font-size: 10pt"><B>Name and Address
    of Beneficial Owner<SUP>(1)</SUP></B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1pt; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; width: 10%"><FONT STYLE="font-size: 10pt"><B>Number <BR>
    of Shares <BR>
    Beneficially <BR>
    Owned<SUP>(2)</SUP></B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1pt; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; width: 10%"><FONT STYLE="font-size: 10pt"><B>Approximate <BR>
    Percentage of <BR>
    Outstanding <BR>
    Common Stock</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; width: 10%"><FONT STYLE="font-size: 10pt"><B>Number <BR>
    of Shares <BR>
    Beneficially <BR>
    Owned<SUP>(2)</SUP></B></FONT></TD>
    <TD STYLE="white-space: nowrap; padding-bottom: 1pt; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; width: 10%"><FONT STYLE="font-size: 10pt"><B>Approximate <BR>
    Percentage of <BR>
    Outstanding <BR>
    Common Stock</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt; width: 1%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Seaport Global SPAC, LLC<SUP>(3)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">3,593,750</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">100.0</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">3,125,000</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">20.0</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Stephen C. Smith<SUP>(3)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">3,593,750</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">100.0</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">3,125,000</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">20.0</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: bottom; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Michael Ring<SUP>(4)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Jay Burnham<SUP>(4)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: bottom; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Shelley Greenhaus<SUP>(4)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Jeremy Hedberg<SUP>(4)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: bottom; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Charles Yamarone<SUP>(4)</SUP></FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">All executive officers, directors and director
    nominees as a group (6 individuals)</FONT></TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-align: right; text-indent: -10pt"><FONT STYLE="font-size: 10pt">3,593,750</FONT></TD>
    <TD STYLE="padding-left: 10pt; text-align: right; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">100.0</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right"><FONT STYLE="font-size: 10pt">3,125,000</FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">20.0</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
</TABLE>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>


<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-indent: -24pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt; text-align: left">*</TD><TD STYLE="text-align: justify">less than 1%</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt; text-align: left">(1)</TD><TD STYLE="text-align: justify">Unless otherwise noted, the business
                                         address of each of the following entities or individuals is c/o Seaport Global Acquisition
                                         Corp., 360 Madison Avenue, 20th Floor, New York, NY 10017.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt; text-align: left">(2)</TD><TD STYLE="text-align: justify">Interests shown consist solely of founder
                                         shares, classified as shares of Class B common stock. Such shares are convertible into
                                         shares of Class A common stock on a one-for-one basis, subject to adjustment, as described
                                         in the section of this prospectus entitled &ldquo;Description of Securities.&rdquo;</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt; text-align: left">(3)</TD><TD STYLE="text-align: justify">Seaport Global SPAC, LLC, our sponsor, is the record holder of the securities reported
                                                  herein. Seaport Global Asset Management, LLC is the managing member of our sponsor and Stephen Smith, our Chairman and Chief
                                                  Executive Officer, is the Chief Executive Officer of Seaport Global Asset Management, LLC. By virtue of these relationships,
                                                  Mr. Smith may be deemed to have or share beneficial ownership of the securities held of record by our sponsor. Mr. Smith
                                                  disclaims any such beneficial ownership except to the extent of his pecuniary interest.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 24pt">(4)</TD><TD>Each of these individuals holds a direct or indirect interest in our sponsor. Each
                                       such person disclaims any beneficial ownership of the reported shares other than to the
                                       extent of any pecuniary interest they may have therein, directly or indirectly.</TD></TR></TABLE>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Immediately after this offering, our initial
stockholders will beneficially own 20% of the then-issued and outstanding shares of our common stock (assuming they do not purchase
any units in this offering). Neither our sponsor nor any of our officers or directors have expressed an intention to purchase
any units in this offering. If we increase or decrease the size of the offering, we will effect a stock dividend or a share contribution
back to capital, or other appropriate mechanism, as applicable, with respect to our Class B common stock immediately prior to
the consummation of the offering in such amount as to maintain the ownership of our initial stockholders at 20.0% of the issued
and outstanding shares of our common stock upon the consummation of this offering. Because of this ownership block, our initial
stockholders may be able to effectively influence the outcome of all matters requiring approval by our stockholders, including
the election of directors, amendments to our amended and restated certificate of incorporation and approval of significant corporate
transactions, including approval of our initial business combination.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The holders of the founder shares have agreed
(A) to vote any shares owned by them in favor of any proposed initial business combination and (B) not to redeem any shares in
connection with a stockholder vote to approve a proposed initial business combination.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our sponsor and our executive officers and
directors are deemed to be our &ldquo;promoters&rdquo; as such term is defined under the federal securities laws.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 109 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->105<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Restrictions on Transfers of Founder Shares and Private
Placement Warrants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The founder shares, private placement warrants
and any shares of Class A common stock issued upon conversion or exercise thereof are each subject to transfer restrictions pursuant
to lock-up provisions in a letter agreement with us to be entered into by our sponsor, officers and directors. Those lock-up provisions
provide that such securities are not transferable or salable (i) in the case of the founder shares, until the earlier of (A) one
year after the completion of our initial business combination or (B) subsequent to our initial business combination, (x) if the
last sale price of our Class A common stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends,
reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least
150 days after our initial business combination, or (y) the date on which we complete a liquidation, merger, capital stock exchange,
reorganization or other similar transaction that results in all of our stockholders having the right to exchange their shares
of common stock for cash, securities or other property, and (ii) in the case of the private placement warrants and the Class A
common stock underlying such warrants, until 30 days after the completion of our initial business combination, except in each
case (a) to our officers or directors, any affiliates or family members of any of our officers or directors, any members of our
sponsor, or any affiliates of our sponsor, (b) in the case of an individual, by gift to a member of one of the members of the
individual&rsquo;s immediate family or to a trust, the beneficiary of which is a member of one of the individual&rsquo;s immediate
family, an affiliate of such person or to a charitable organization; (c) in the case of an individual, by virtue of laws of descent
and distribution upon death of the individual; (d) in the case of an individual, pursuant to a qualified domestic relations order;
(e) by private sales or transfers made in connection with the consummation of an initial business combination at prices no greater
than the price at which the shares or warrants were originally purchased; (f) in the event of our liquidation prior to the completion
of our initial business combination; (g) by virtue of the laws of Delaware or our sponsor&rsquo;s limited liability company agreement
upon dissolution of our sponsor; or (h) in the event of our liquidation, merger, capital stock exchange, reorganization 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 subsequent to our completion of our initial business combination; provided, however, that in the
case of clauses (a) through (e) or (g) these permitted transferees must enter into a written agreement agreeing to be bound by
these transfer restrictions and the other restrictions contained in the letter agreements and by the same agreements entered into
by our sponsor with respect to such securities (including provisions relating to voting, the trust account and liquidation distributions
described elsewhere in this prospectus).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Registration Rights</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The holders of the founder shares, private
placement warrants and private placement warrants that may be issued upon conversion of working capital loans will have registration
rights to require us to register a sale of any of our securities held by them pursuant to a registration and shareholder rights
agreement to be signed prior to or on the effective date of this offering. Pursuant to the registration rights agreement and assuming
the underwriters exercise their over-allotment option in full and $1,500,000 of working capital loans are converted into private
placement warrants, we will be obligated to register up to 9,718,750 shares of Class A common stock and 6,125,000 warrants. The
number of shares of Class A common stock includes (i) 3,593,750 shares of Class A common stock to be issued upon conversion of
the founder shares, (ii) 4,625,000 shares of Class A common stock underlying the private placement warrants and (iii) 1,500,000
shares of Class A common stock underlying the private placement warrants issued upon conversion of working capital loans. These
holders will be entitled to make up to three demands, excluding short form registration demands, that we register such securities
for sale under the Securities Act. In addition, these holders will have &ldquo;piggy-back&rdquo; registration rights to include
their securities in other registration statements filed by us.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 110 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->106<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="s4_003"></A><B>CERTAIN RELATIONSHIPS
AND RELATED PARTY TRANSACTIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In July 2020, our sponsor purchased 3,593,750
founder shares for an aggregate purchase price of $25,000, or approximately $0.007 per share. The number of founder shares issued
was determined based on the expectation that such founder shares would represent 20% of the outstanding shares upon completion
of this offering. If we increase or decrease the size of the offering we will effect a stock dividend or a share contribution
back to capital or other appropriate mechanism, as applicable, with respect to our Class B common stock immediately prior to the
consummation of the offering in such amount as to maintain the ownership of our initial stockholders at 20.0% of the issued and
outstanding shares of our common stock upon the consummation of this offering. Up to 468,750 founder shares are subject to forfeiture
by our sponsor depending on the extent to which the underwriters&rsquo; over-allotment option is exercised. The founder shares
(including the Class A common stock issuable upon exercise thereof) may not, subject to certain limited exceptions, be transferred,
assigned or sold by the holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our sponsor has committed, pursuant to a
written agreement, to purchase an aggregate of 4,250,000 private placement warrants (or 4,625,000 private placement warrants if
the over-allotment option is exercised in full) at a price of $1.00 per warrant ($4,250,000 in the aggregate, or $4,625,000 if
the over-allotment option is exercised in full) in a private placement that will occur simultaneously with the closing of this
offering. As such, our sponsor&rsquo;s interest in this transaction is valued at $4,250,000, (or $4,625,000 if the over-allotment
option is exercised in full) depending on the number of private placement warrants purchased. Each private placement warrant entitles
the holder thereof to purchase one share of our Class A common stock at a price of $11.50 per share. The private placement warrants
(including the Class A common stock issuable upon exercise thereof) may not, subject to certain limited exceptions, be transferred,
assigned or sold by the holder until 30 days after the completion of our initial business combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">As more fully discussed in the section of
this prospectus entitled &ldquo;Management &mdash; Conflicts of Interest,&rdquo; if any of our officers or directors becomes aware
of an initial business combination opportunity that falls within the line of business of any entity to which he or she has then-current
fiduciary or contractual obligations, he or she will honor his or her fiduciary or contractual obligations to present such business
combination opportunity to such other entity. Our officers and directors currently have certain relevant fiduciary duties or contractual
obligations that may take priority over their duties to us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Commencing on the date of this prospectus,
we have agreed to pay our sponsor a total of $10,000 per month for office space, utilities and secretarial and administrative
support. Upon completion of our initial business combination or our liquidation, we will cease paying these monthly fees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Other than the foregoing, no compensation
of any kind, including any finder&rsquo;s fee, reimbursement, consulting fee or monies in respect of any payment of a loan, will
be paid by us to our sponsor, officers and directors, or any affiliate of our sponsor or officers, prior to, or in connection
with any services rendered in order to effectuate, the consummation of an initial business combination (regardless of the type
of transaction that it is). However, these individuals will be reimbursed for any out-of-pocket expenses incurred in connection
with activities on our behalf such as identifying potential target businesses and performing due diligence on suitable business
combinations. We do not have a policy that prohibits our sponsor, executive officers or directors, or any of their respective
affiliates, from negotiating for the reimbursement of out-of-pocket expenses by a target business. Our audit committee will review
on a quarterly basis all payments that were made to our sponsor, officers, directors or our or their affiliates and will determine
which expenses and the amount of expenses that will be reimbursed. There is no cap or ceiling on the reimbursement of out-of-pocket
expenses incurred by such persons in connection with activities on our behalf.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Prior to the closing of this offering, our
sponsor has agreed to loan us up to $300,000 to be used for a portion of the expenses of this offering. As of August 17, 2020,
we borrowed $60,266 (of up to $300,000 available to us) under the promissory note with our sponsor to be used for a portion of
the expenses of this offering. These loans are non-interest bearing, unsecured and are due at the earlier of March 31, 2021 or
the closing of this offering. The loan will be repaid upon the closing of this offering out of the estimated $750,000 of offering
proceeds that has been allocated to the payment of offering expenses (other than underwriting commissions). The value of our sponsor&rsquo;s
interest in this transaction corresponds to the principal amount outstanding under any such loan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 111 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->107<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In addition, in order to finance transaction
costs in connection with an intended initial business combination, our sponsor or an affiliate of our sponsor or certain of our
officers and directors may, but are not obligated to, loan us funds on a non-interest bearing basis as may be required. If we
complete an initial business combination, we would repay such loaned amounts. In the event that the initial business combination
does not close, we may use a portion of the working capital held outside the trust account to repay such loaned amounts but no
proceeds from our trust account would be used for such repayment. Up to $1,500,000 of such loans may be convertible into warrants
at a price of $1.00 per warrant at the option of the lender. The warrants would be identical to the private placement warrants,
including as to exercise price, exercisability and exercise period. We do not expect to seek loans from parties other than our
sponsor or an affiliate of our sponsor as we do not believe third parties will be willing to loan such funds and provide a waiver
against any and all rights to seek access to funds in our trust account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Any of the foregoing payments to our sponsor,
repayments of loans from our sponsor or repayments of working capital loans prior to our initial business combination will be
made using funds held outside the trust account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">After our initial business combination,
members of our management team who remain with us may be paid consulting, management or other fees from the combined company with
any and all amounts being fully disclosed to our stockholders, to the extent then known, in the tender offer or proxy solicitation
materials, as applicable, furnished to our stockholders. It is unlikely the amount of such compensation will be known at the time
of distribution of such tender offer materials or at the time of a stockholder meeting held to consider our initial business combination,
as applicable, as it will be up to the directors of the post-combination business to determine executive and director compensation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We will enter into a registration and shareholder
rights agreement with respect to the private placement warrants, the warrants issuable upon conversion of working capital loans
(if any) and the shares of Class A common stock issuable upon exercise of the foregoing and upon conversion of the founder shares,
which is described under the section of this prospectus entitled &ldquo;Description of Securities &mdash; Registration Rights.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Related Party Policy</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We have not yet adopted a formal policy
for the review, approval or ratification of related party transactions. Accordingly, the transactions discussed above were not
reviewed, approved or ratified in accordance with any such policy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Prior to the consummation of this offering,
we will adopt a code of ethics requiring us to avoid, wherever possible, all conflicts of interests, except under guidelines or
resolutions approved by our board of directors (or the appropriate committee of our board) or as disclosed in our public filings
with the SEC. Under our code of ethics, conflict of interest situations will include any financial transaction, arrangement or
relationship (including any indebtedness or guarantee of indebtedness) involving the company. A form of the code of ethics that
we plan to adopt prior to the consummation of this offering is filed as an exhibit to the registration statement of which this
prospectus is a part.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In addition, our audit committee, pursuant
to a written charter that we will adopt prior to the consummation of this offering, will be responsible for reviewing and approving
related party transactions to the extent that we enter into such transactions. An affirmative vote of a majority of the members
of the audit committee present at a meeting at which a quorum is present will be required in order to approve a related party
transaction. A majority of the members of the entire audit committee will constitute a quorum. Without a meeting, the unanimous
written consent of all of the members of the audit committee will be required to approve a related party transaction. A form of
the audit committee charter that we plan to adopt prior to the consummation of this offering is filed as an exhibit to the registration
statement of which this prospectus is a part. We also require each of our directors and executive officers to complete a directors&rsquo;
and officers&rsquo; questionnaire that elicits information about related party transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">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 Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 112 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->108<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">To further minimize conflicts of interest,
we have agreed not to consummate an initial business combination with an entity that is affiliated with any of our sponsor, officers
or directors unless we, or a committee of independent directors, have obtained an opinion from independent investment banking
firm or from another independent entity that commonly renders valuation opinions that our initial business combination is fair
to our company from a financial point of view. Furthermore, no finder&rsquo;s fees, reimbursements, consulting fee, monies in
respect of any payment of a loan or other compensation will be paid by us to our sponsor, officers or directors, or any affiliate
of our sponsor or officers, for services rendered to us prior to, or in connection with any services rendered in order to effectuate,
the consummation of our initial business combination (regardless of the type of transaction that it is). However, the following
payments will be made to our sponsor, officers or directors, or our or their affiliates, none of which will be made from the proceeds
of this offering held in the trust account prior to the completion of our initial business combination:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">Repayment
                                         of up to an aggregate of $300,000 in loans made to us by our sponsor to cover offering-related
                                         and organizational expenses;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">Payment
                                         to our sponsor of $10,000 per month, for up to 24 months, for office space, utilities
                                         and secretarial and administrative support;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">Reimbursement
                                         for any out-of-pocket expenses related to identifying, investigating and completing an
                                         initial business combination; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">Repayment
                                         of non-interest bearing loans which may be made by our sponsor or an affiliate of our
                                         sponsor or certain of our officers and directors to finance transaction costs in connection
                                         with an intended initial business combination. Up to $1,500,000 of such loans may be
                                         convertible into warrants, at a price of $1.00 per warrant at the option of the lender.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our audit committee will review on a quarterly
basis all payments that were made to our sponsor, officers or directors, or our or their affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 113 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->109<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="s4_004"></A>DESCRIPTION OF
SECURITIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Pursuant to our amended and restated certificate
of incorporation, our authorized capital stock consists of 100,000,000 shares of Class A common stock, $0.0001 par value, 10,000,000
shares of Class B common stock, $0.0001 par value, and 1,000,000 shares of undesignated preferred stock, $0.0001 par value. The
following description summarizes the material terms of our capital stock. Because it is only a summary, it may not contain all
the information that is important to you.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Units</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Each unit has an offering price of $10.00
and consists of one whole share of Class A common stock and one-half of one redeemable warrant. Each whole warrant entitles the
holder thereof to purchase one share of our Class A common stock at a price of $11.50 per share, subject to adjustment as described
in this prospectus. Pursuant to the warrant agreement, a warrantholder may exercise its warrants only for a whole number of shares
of Class A common stock. This means that only a whole warrant may be exercised at any given time by a warrantholder. No fractional
warrants will be issued upon separation of the units and only whole warrants will trade. Accordingly, unless you purchase at least
two units, you will not be able to receive or trade a whole warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We expect the Class A common stock and warrants
comprising the units will begin separate trading on the 52<SUP>nd</SUP> day following the date of this prospectus unless B. Riley
Securities, Inc. informs us of its decision to allow earlier separate trading, subject to our having filed the Current Report
on Form 8-K described below and having issued a press release announcing when such separate trading will begin. Once the shares
of Class A common stock and warrants commence separate trading, holders will have the option to continue to hold units or separate
their units into the component securities. Holders will need to have their brokers contact our transfer agent in order to separate
the units into shares of Class A common stock and warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In no event will the Class A common stock
and warrants be traded separately until we have filed with the SEC a Current Report on Form 8-K which includes an audited balance
sheet reflecting our receipt of the gross proceeds at the closing of this offering. We will file 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 Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Upon the closing of this offering, 15,625,000
shares of our common stock will be outstanding (assuming no exercise of the underwriters&rsquo; over-allotment option and the
corresponding forfeiture of 468,750 founder shares by our sponsor), consisting of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">12,500,000
                                         shares of our Class A common stock underlying the units being offered in this offering;
                                         and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">3,125,000
                                         shares of Class B common stock held by our initial stockholders.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">If we increase or decrease the size of the
offering we will effect a stock dividend or a share contribution back to capital or other appropriate mechanism, as applicable,
with respect to our Class B common stock immediately prior to the consummation of the offering in such amount as to maintain the
ownership of our initial stockholders at 20.0% of the issued and outstanding shares of our common stock upon the consummation
of this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Common stockholders of record are entitled
to one vote for each share held on all matters to be voted on by stockholders. Holders of the Class A common stock and holders
of the Class B common stock will vote together as a single class on all matters submitted to a vote of our stockholders, except
as required by law. Unless specified in our amended and restated certificate of incorporation or bylaws, or as required by applicable
provisions of the DGCL or applicable stock exchange rules, the affirmative vote of a majority of our shares of common stock that
are voted is required to approve any such matter voted on by our stockholders. Our board of directors will be divided into three
classes, each of which will generally serve for a term of three years with only one class of directors being elected in each year.
There is no cumulative voting with respect to the election of directors, with the result that the holders of more than 50% of
the shares voted for the election of directors can elect all of the directors. Our stockholders are entitled to receive ratable
dividends when, as and if declared by the board of directors out of funds legally available therefor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 114 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->110<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Because our amended and restated certificate
of incorporation authorizes the issuance of up to 100,000,000 shares of Class A common stock, if we were to enter into an initial
business combination, we may (depending on the terms of such an initial business combination) be required to increase the number
of shares of Class A common stock which we are authorized to issue at the same time as our stockholders vote on the initial business
combination to the extent we seek stockholder approval in connection with our initial business combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In accordance with Nasdaq corporate governance
requirements, we are not required to hold an annual meeting until no later than one year after our first fiscal year end following
our listing on Nasdaq. Under Section 211(b) of the DGCL, we are, however, required to hold an annual meeting of stockholders for
the purposes of electing directors in accordance with our bylaws, unless such election is made by written consent in lieu of such
a meeting. We may not hold an annual meeting of stockholders to elect new directors prior to the consummation of our initial business
combination, and thus we may not be in compliance with Section 211(b) of the DGCL, which requires an annual meeting. Therefore,
if our stockholders want us to hold an annual meeting prior to the consummation of our initial business combination, they may
attempt to force us to hold one by submitting an application to the Delaware Court of Chancery in accordance with Section 211(c)
of the DGCL.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We will provide our stockholders with the
opportunity to redeem all or a portion of their public shares upon the completion of our initial business combination at a per-share
price, payable in cash, equal to the aggregate amount then on deposit in the trust account as of two business days prior to the
consummation of our initial business combination including interest earned on the funds held in the trust account and not previously
released to us to pay our taxes, divided by the number of then outstanding public shares, subject to the limitations described
herein. The amount in the trust account is initially anticipated to be approximately $10.00 per public share. The per-share amount
we will distribute to investors who properly redeem their shares will not be reduced by the deferred underwriting commissions
we will pay to the underwriters. Our sponsor, officers and directors have entered into a letter agreement with us, pursuant to
which they have agreed to waive their redemption rights with respect to any founder shares and any public shares held by them
in connection with the completion of our initial business combination. Unlike many blank check companies that hold stockholder
votes and conduct proxy solicitations in conjunction with their initial business combinations and provide for related redemptions
of public shares for cash upon completion of such initial business combinations even when a vote is not required by law, if a
stockholder vote is not required by law and we do not decide to hold a stockholder vote for business or other legal reasons, we
will, pursuant to our amended and restated certificate of incorporation, conduct the redemptions pursuant to the tender offer
rules of the SEC, and file tender offer documents with the SEC prior to completing our initial business combination. Our amended
and restated certificate of incorporation will require these tender offer documents to contain substantially the same financial
and other information about the initial business combination and the redemption rights as is required under the SEC&rsquo;s proxy
rules. If, however, a stockholder approval of the transaction is required by law, or we decide to obtain stockholder approval
for business or other legal reasons, we will, like many blank check companies, offer to redeem shares in conjunction with a proxy
solicitation pursuant to the proxy rules and not pursuant to the tender offer rules. If we seek stockholder approval, we will
complete our initial business combination only if a majority of the outstanding shares of common stock voted are voted in favor
of the initial business combination. A quorum for such meeting will consist of the holders present in person or by proxy of shares
of outstanding capital stock of the company representing a majority of the voting power of all outstanding shares of capital stock
of the company entitled to vote at such meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">However, the participation of our sponsor,
officers, directors, advisors or their affiliates in privately-negotiated transactions (as described in this prospectus), if any,
could result in the approval of our initial business combination even if a majority of our public stockholders vote, or indicate
their intention to vote, against such business combination. For purposes of seeking approval of the majority of our outstanding
shares of common stock voted, non-votes will have no effect on the approval of our initial business combination once a quorum
is obtained. We intend to give approximately 30 days (but not less than 10 days nor more than 60 days) prior written notice of
any such meeting, if required, at which a vote shall be taken to approve our initial business combination. These quorum and voting
thresholds, and the voting agreements of our initial stockholders, may make it more likely that we will consummate our initial
business combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 115 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->111<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">If we seek stockholder approval of our initial
business combination and we do not conduct redemptions in connection with our initial business combination pursuant to the tender
offer rules, our amended and restated certificate of incorporation will provide that a public stockholder, together with any affiliate
of such stockholder or any other person with whom such stockholder is acting in concert or as a &ldquo;group&rdquo; (as defined
under Section&nbsp;13 of the Exchange Act), will be restricted from redeeming its shares with respect to more than an aggregate
of 20% of the shares of common stock sold in this offering, which we refer to as the Excess Shares. However, we would not be restricting
our stockholders&rsquo; ability to vote all of their shares (including Excess Shares) for or against our initial business combination.
Our stockholders&rsquo; inability to redeem the Excess Shares will reduce their influence over our ability to complete our initial
business combination, and such stockholders could suffer a material loss in their investment if they sell such Excess Shares on
the open market. Additionally, such stockholders will not receive redemption distributions with respect to the Excess Shares if
we complete the initial business combination. And, as a result, such stockholders will continue to hold that number of shares
exceeding 20% and, in order to dispose such shares would be required to sell their stock in open market transactions, potentially
at a loss.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">If we seek stockholder approval in connection
with our initial business combination, pursuant to the letter agreement our sponsor, officers and directors have agreed to vote
their founder shares and any public shares purchased during or after this offering (including in open market and privately negotiated
transactions) in favor of our initial business combination. As a result, in addition to our initial stockholders&rsquo; founder
shares, we would need only 4,687,501, or 37.5%, of the 12,500,000 public shares sold in this offering to be voted in favor of
an initial business combination (assuming all outstanding shares are voted) in order to have our initial business combination
approved (assuming the over-allotment option is not exercised). Additionally, each public stockholder may elect to redeem its
public shares irrespective of whether they vote for or against the proposed transaction (subject to the limitation described in
the preceding paragraph).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Pursuant to our amended and restated certificate
of incorporation, if we do not complete our initial business combination within 24 months from the closing of this offering, we
will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but no more than ten
business days thereafter subject to lawfully available funds therefor, redeem the public shares, at a per-share price, payable
in cash, equal to the aggregate amount then on deposit in the trust account including interest earned on the funds held in the
trust account and not previously released to us to pay our taxes (less up to $100,000 of interest to pay dissolution expenses),
divided by the number of then outstanding public shares, which redemption will completely extinguish public stockholders&rsquo;
rights as stockholders (including the right to receive further liquidating distributions, if any), subject to applicable law,
and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining stockholders
and our board of directors, dissolve and liquidate, subject in each case to our obligations under Delaware law to provide for
claims of creditors and the requirements of other applicable law. Our sponsor, officers and directors have entered into a letter
agreement with us, pursuant to which they have agreed to waive their rights to liquidating distributions from the trust account
with respect to any founder shares held by them if we fail to complete our initial business combination within 24 months from
the closing of this offering. However, if our initial stockholders acquire public shares in or after this offering, they will
be entitled to liquidating distributions from the trust account with respect to such public shares if we fail to complete our
initial business combination within the prescribed time period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In the event of a liquidation, dissolution
or winding up of the company after an initial business combination, our stockholders are entitled to share ratably in all assets
remaining available for distribution to them after payment of liabilities and after provision is made for each class of stock,
if any, having preference over the common stock. Our stockholders have no preemptive or other subscription rights. There are no
sinking fund provisions applicable to the common stock, except that we will provide our stockholders with the opportunity to redeem
their public shares for cash equal to their pro rata share of the aggregate amount then on deposit in the trust account, upon
the completion of our initial business combination, subject to the limitations described herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Founder Shares</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The founder shares are identical to the
shares of Class A common stock included in the units being sold in this offering, and holders of founder shares have the same
stockholder rights as public stockholders, except that (i)&nbsp;the founder shares are subject to certain transfer restrictions,
as described in more detail below, (ii) our sponsor, officers and directors have entered into a letter agreement with us, pursuant
to which they have agreed (A) to waive their redemption rights with respect to any founder shares and any public shares held by
them in connection with the completion of our initial business combination, (B) to waive their redemption rights with respect
to their founder shares and public shares in connection with a stockholder vote to approve an amendment to our amended and restated
certificate of incorporation (x) to modify the substance or timing of our obligation to allow redemption rights in connection
with any proposed initial business combination or to redeem 100% of our public shares if we do not complete our initial business
combination within 24 months from the closing of this offering or (y) with respect to any other provision relating to stockholders&rsquo;
rights or pre-initial business combination activity and (C)&nbsp;to waive their rights to liquidating distributions from the trust
account with respect to any founder shares held by them if we fail to complete our initial business combination within 24 months
from the closing of this offering, although they will be entitled to liquidating distributions from the trust account with respect
to any public shares they hold if we fail to complete our initial business combination within such time period, (iii) the founder
shares are shares of our Class B common stock that will automatically convert into shares of our Class A common stock at the time
of our initial business combination, subject to adjustment as described herein, and (iv) are entitled to registration rights.
If we submit our initial business combination to our public stockholders for a vote, our sponsor, officers and directors have
agreed pursuant to the letter agreement to vote any founder shares held by them and any public shares purchased during or after
this offering (including in open market and privately negotiated transactions) in favor of our initial business combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 116 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->112<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The shares of Class B common stock will
automatically convert into shares of Class A common stock at the time of our initial business combination on a one-for-one basis
(subject to adjustment for stock splits, stock dividends, reorganizations, recapitalizations and the like), and subject to further
adjustment as provided herein. In the case that additional shares of Class A common stock, or equity-linked securities, are issued
or deemed issued in excess of the amounts offered in this prospectus and related to the closing of the initial business combination,
the ratio at which shares of Class B common stock shall convert into shares of Class A common stock will be adjusted (unless the
holders of a majority of the outstanding shares of Class B common stock agree to waive such adjustment with respect to any such
issuance or deemed issuance) so that the number of shares of Class A common stock issuable upon conversion of all shares of Class
B common stock will equal, in the aggregate, on an as-converted basis, 20% of the sum of the total number of all shares of common
stock outstanding upon completion of this offering plus all shares of Class A common stock and equity-linked securities issued
or deemed issued in connection with the initial business combination (excluding any shares or equity-linked securities issued,
or to be issued, to any seller in the initial business combination, and any private placement-equivalent warrants issued to our
sponsor or its affiliates upon conversion of loans made to us). We cannot determine at this time whether a majority of the holders
of our Class B common stock at the time of any future issuance would agree to waive such adjustment to the conversion ratio. They
may waive such adjustment due to (but not limited to) the following: (i)&nbsp;closing conditions which are part of the agreement
for our initial business combination; (ii) negotiation with Class A stockholders on structuring an initial business combination;
or (iii) negotiation with parties providing financing which would trigger the anti-dilution provisions of the Class B common stock.
If such adjustment is not waived, the issuance would not reduce the percentage ownership of holders of our Class B common stock,
but would reduce the percentage ownership of holders of our Class A common stock. If such adjustment is waived, the issuance would
reduce the percentage ownership of holders of both classes of our common stock. Holders of founder shares may also elect to convert
their shares of Class B common stock into an equal number of shares of Class A common stock, subject to adjustment as provided
above, at any time. The term &ldquo;equity-linked securities&rdquo; refers to any debt or equity securities that are convertible,
exercisable or exchangeable for shares of Class A common stock issues in a financing transaction in connection with our initial
business combination, including but not limited to a private placement of equity or debt. Securities could be &ldquo;deemed issued&rdquo;
for purposes of the conversion rate adjustment if such shares are issuable upon the conversion or exercise of convertible securities,
warrants or similar securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">With certain limited exceptions, the founder
shares are not transferable, assignable or salable (except to our officers and directors and other persons or entities affiliated
with our sponsor, each of whom will be subject to the same transfer restrictions) until the earlier of (A) one year after the
completion of our initial business combination or (B) subsequent to our initial business combination, (x) if the last sale price
of our Class A common stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations,
recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after our
initial business combination, or (y) the date on which we complete a liquidation, merger, capital stock exchange, reorganization
or other similar transaction that results in all of our stockholders having the right to exchange their shares of common stock
for cash, securities or other property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 117 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->113<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Preferred Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our amended and restated certificate of
incorporation will provide that shares of preferred stock may be issued from time to time in one or more series. Our board of
directors will be authorized to fix the voting rights, if any, designations, powers, preferences, the relative, participating,
optional or other special rights and any qualifications, limitations and restrictions thereof, applicable to the shares of each
series. Our board of directors will be able to, without stockholder approval, issue preferred stock with voting and other rights
that could adversely affect the voting power and other rights of the holders of the common stock and could have anti-takeover
effects. The ability of our board of directors to issue preferred stock without stockholder approval could have the effect of
delaying, deferring or preventing a change of control of us or the removal of existing management. We have no preferred stock
outstanding at the date hereof. Although we do not currently intend to issue any shares of preferred stock, we cannot assure you
that we will not do so in the future. No shares of preferred stock are being issued or registered in this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Redeemable Warrants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Public Stockholders&rsquo; Warrants</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Each whole warrant entitles the registered
holder to purchase one whole share of our Class A common stock at a price of $11.50 per share, subject to adjustment as discussed
below, at any time commencing on the later of 12 months from the closing of this offering or 30 days after the completion of our
initial business combination. Pursuant to the warrant agreement, a warrantholder may exercise its warrants only for a whole number
of shares of Class A common stock. This means that only a whole warrant may be exercised at any given time by a warrantholder.
No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Accordingly, unless you
purchase at least two units, you will not be able to receive or trade a whole warrant. The warrants will expire five years after
the completion of our initial business combination, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We will not be obligated to deliver any
shares of Class A common stock pursuant to the exercise of a warrant and will have no obligation to settle such warrant exercise
unless a registration statement under the Securities Act with respect to the shares of Class A common stock underlying the warrants
is then effective and a prospectus relating thereto is current, subject to our satisfying our obligations described below with
respect to registration. No warrant will be exercisable and we will not be obligated to issue shares of Class A common stock upon
exercise of a warrant unless Class A common stock issuable upon such warrant exercise has been registered, qualified or deemed
to be exempt under the securities laws of the state of residence of the registered holder of the warrants. In the event that the
conditions in the two immediately preceding sentences are not satisfied with respect to a warrant, the holder of such warrant
will not be entitled to exercise such warrant and such warrant may have no value and expire worthless. In no event will we be
required to net cash settle any warrant. In the event that a registration statement is not effective for the exercised warrants,
the purchaser of a unit containing such warrant will have paid the full purchase price for the unit solely for the share of Class
A common stock underlying such unit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We are not registering the shares of Class
A common stock issuable upon exercise of the warrants at this time. However, we have agreed that as soon as practicable, but in
no event later than 15 business days after the closing of our initial business combination, we will use our best efforts to file
with the SEC a registration statement covering the shares of Class A common stock issuable upon exercise of the warrants, to cause
such registration statement to become effective and to maintain a current prospectus relating to those shares of Class A common
stock until the warrants expire or are redeemed, as specified in the warrant agreement. If a registration statement covering the
shares of Class A common stock issuable upon exercise of the warrants is not effective by the 60<SUP>th</SUP>&nbsp;business day
after the closing of our initial business combination, warrantholders may, until such time as there is an effective registration
statement and during any period when we will have failed to maintain an effective registration statement, exercise warrants on
a &ldquo;cashless basis&rdquo; in accordance with Section 3(a)(9) of the Securities Act or another exemption. Notwithstanding
the foregoing, if a registration statement covering the Class A common stock issuable upon exercise of the warrants is not effective
within a specified period following the consummation of our initial business combination, warrant holders may, until such time
as there is an effective registration statement and during any period when we shall have failed to maintain an effective registration
statement, exercise warrants on a cashless basis pursuant to the exemption provided by Section 3(a)(9) of the Securities Act of
1933, as amended, or the Securities Act, provided that such exemption is available. If that exemption, or another exemption, is
not available, holders will not be able to exercise their warrants on a cashless basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 118 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->114<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Once the warrants become exercisable, we
may call the warrants for redemption:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">in whole
                                         and not in part;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">at a
                                         price of $0.01 per warrant;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">upon
                                         not less than 30 days&rsquo; prior written notice of redemption (the &ldquo;30-day redemption
                                         period&rdquo;) to each warrantholder; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">if, and
                                         only if, the reported last sale price of the Class A common stock equals or exceeds $18.00
                                         per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations
                                         and the like) for any 20 trading days within a 30-trading day period ending three business
                                         days before we send the notice of redemption to the warrantholders.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">If and when the warrants become redeemable
by us, we may not exercise our redemption right if the issuance of shares of common stock upon exercise of the warrants is not
exempt from registration or qualification under applicable state blue sky laws or we are unable to effect such registration or
qualification. We will use our best efforts to register or qualify such shares of common stock under the blue sky laws of the
state of residence in those states in which the warrants were offered by us in this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We have established the last of the redemption
criteria discussed above to prevent a redemption call unless there is at the time of the call a significant premium to the warrant
exercise price. If the foregoing conditions are satisfied and we issue a notice of redemption of the warrants, each warrantholder
will be entitled to exercise its warrant prior to the scheduled redemption date. However, the price of the Class A common stock
may fall below the $18.00 redemption trigger price (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations
and the like) as well as the $11.50 warrant exercise price after the redemption notice is issued.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">If we call the warrants for redemption as
described above, our management will have the option to require any holder that wishes to exercise its warrant to do so on a &ldquo;cashless
basis.&rdquo; In determining whether to require all holders to exercise their warrants on a &ldquo;cashless basis,&rdquo; our
management will consider, among other factors, our cash position, the number of warrants that are outstanding and the dilutive
effect on our stockholders of issuing the maximum number of shares of Class A common stock issuable upon the exercise of our warrants.
If our management takes advantage of this option, all holders of warrants would pay the exercise price by surrendering their warrants
for that number of shares of Class A common stock equal to the quotient obtained by dividing (x) the product of the number of
shares of Class A common stock underlying the warrants, multiplied by the difference between the exercise price of the warrants
and the &ldquo;fair market value&rdquo; (defined below) by (y) the fair market value. The &ldquo;fair market value&rdquo; shall
mean the average reported last sale price of the Class A common stock for the 10 trading days ending on the third trading day
prior to the date on which the notice of redemption is sent to the holders of warrants. If our management takes advantage of this
option, the notice of redemption will contain the information necessary to calculate the number of shares of Class A common stock
to be received upon exercise of the warrants, including the &ldquo;fair market value&rdquo; in such case. Requiring a cashless
exercise in this manner will reduce the number of shares to be issued and thereby lessen the dilutive effect of a warrant redemption.
We believe this feature is an attractive option to us if we do not need the cash from the exercise of the warrants after our initial
business combination. If we call our warrants for redemption and our management does not take advantage of this option, our sponsor
and its permitted transferees would still be entitled to exercise their private placement warrants for cash or on a cashless basis
using the same formula described above that other warrantholders would have been required to use had all warrantholders been required
to exercise their warrants on a cashless basis, as described in more detail below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">A holder of a warrant may notify us in writing
in the event it elects to be subject to a requirement that such holder will not have the right to exercise such warrant, to the
extent that after giving effect to such exercise, such person (together with such person&rsquo;s affiliates), to the warrant agent&rsquo;s
actual knowledge, would beneficially own in excess of 4.9% or 9.8% (or such other amount as a holder may specify) of the shares
of Class A common stock outstanding immediately after giving effect to such exercise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 119 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->115<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">If the number of outstanding shares of Class
A common stock is increased by a stock dividend payable in shares of Class A common stock, or by a split-up of shares of Class
A common stock or other similar event, then, on the effective date of such stock dividend, split-up or similar event, the number
of shares of Class A common stock issuable on exercise of each warrant will be increased in proportion to such increase in the
outstanding shares of Class A common stock. A rights offering to holders of Class A common stock entitling holders to purchase
shares of Class A common stock at a price less than the fair market value will be deemed a stock dividend of a number of shares
of Class A common stock equal to the product of (i) the number of shares of Class A common stock actually sold in such rights
offering (or issuable under any other equity securities sold in such rights offering that are convertible into or exercisable
for Class A common stock) and (ii) one (1) minus the quotient of (x) the price per share of Class A common stock paid in such
rights offering divided by (y) the fair market value. For these purposes (i) if the rights offering is for securities convertible
into or exercisable for Class A common stock, in determining the price payable for Class A common stock, there will be taken into
account any consideration received for such rights, as well as any additional amount payable upon exercise or conversion and (ii)
fair market value means the volume weighted average price of Class A common stock as reported during the ten (10) trading day
period ending on the trading day prior to the first date on which the shares of Class A common stock trade on the applicable exchange
or in the applicable market, regular way, without the right to receive such rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In addition, if we, at any time while the
warrants are outstanding and unexpired, pay a dividend or make a distribution in cash, securities or other assets to the holders
of Class A common stock on account of such shares of Class A common stock (or other shares of our capital stock into which the
warrants are convertible), other than (a)&nbsp;as described above, (b) certain ordinary cash dividends, (c) to satisfy the redemption
rights of the holders of Class A common stock in connection with a proposed initial business combination, (d) to satisfy the redemption
rights of the holders of Class A common stock in connection with a stockholder vote to amend our amended and restated certificate
of incorporation (i) to modify the substance or timing of our obligation to redeem 100% of our Class A common stock if we do not
complete our initial business combination within 24 months from the closing of this offering or (ii) with respect to any other
provision relating to stockholders&rsquo; rights or pre-initial business combination activity, or (e) in connection with the redemption
of our public shares upon our failure to complete our initial business combination, then the warrant exercise price will be decreased,
effective immediately after the effective date of such event, by the amount of cash and/or the fair market value of any securities
or other assets paid on each share of Class A common stock in respect of such event.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">If the number of outstanding shares of our
Class A common stock is decreased by a consolidation, combination, reverse stock split or reclassification of shares of Class
A common stock or other similar event, then, on the effective date of such consolidation, combination, reverse stock split, reclassification
or similar event, the number of shares of Class A common stock issuable on exercise of each warrant will be decreased in proportion
to such decrease in outstanding shares of Class A common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Whenever the number of shares of Class A
common stock purchasable upon the exercise of the warrants is adjusted, as described above, the warrant exercise price will be
adjusted by multiplying the warrant exercise price immediately prior to such adjustment by a fraction (x) the numerator of which
will be the number of shares of Class A common stock purchasable upon the exercise of the warrants immediately prior to such adjustment,
and (y) the denominator of which will be the number of shares of Class A common stock so purchasable immediately thereafter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In case of any reclassification or reorganization
of the outstanding shares of Class A common stock (other than those described above or that solely affects the par value of such
shares of Class A common stock), or in the case of any merger or consolidation of us with or into another corporation (other than
a consolidation or merger in which we are the continuing corporation and that does not result in any reclassification or reorganization
of our outstanding shares of Class A common stock), or in the case of any sale or conveyance to another corporation or entity
of the assets or other property of us as an entirety or substantially as an entirety in connection with which we are dissolved,
the holders of the warrants will thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions
specified in the warrants and in lieu of the shares of our Class A common stock immediately theretofore purchasable and receivable
upon the exercise of the rights represented thereby, the kind and amount of shares of stock or other securities or property (including
cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such
sale or transfer, that the holder of the warrants would have received if such holder had exercised their warrants immediately
prior to such event. If less than 70% of the consideration receivable by the holders of Class A common stock in such a transaction
is payable in the form of Class A common stock in the successor entity that is listed for trading on a national securities exchange
or is quoted in an established over-the-counter market, or is to be so listed for trading or quoted immediately following such
event, and if the registered holder of the warrant properly exercises the warrant within thirty days following public disclosure
of such transaction, the warrant exercise price will be reduced as specified in the warrant agreement based on the Black-Scholes
value (as defined in the warrant agreement) of the warrant. The purpose of such exercise price reduction is to provide additional
value to holders of the warrants when an extraordinary transaction occurs during the exercise period of the warrants pursuant
to which the holders of the warrants otherwise do not receive the full potential value of the warrants in order to determine and
realize the option value component of the warrant. This formula is to compensate the warrant holder for the loss of the option
value portion of the warrant due to the requirement that the warrant holder exercise the warrant within 30 days of the event.
The Black-Scholes model is an accepted pricing model for estimating fair market value where no quoted market price for an instrument
is available.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 120 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->116<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The warrants will be issued in registered
form under a warrant agreement between Continental Stock Transfer &amp; Trust Company, as warrant agent, and us. You should review
a copy of the warrant agreement, which will be filed as an exhibit to the registration statement of which this prospectus is a
part, for a complete description of the terms and conditions applicable to the warrants. The warrant agreement provides that the
terms of the warrants may be amended without the consent of any holder to cure any ambiguity or correct any mistake, including
to conform the provisions of the warrant agreement to the description of the terms of the warrants and the warrant agreement set
forth in this prospectus, or to correct any defective provision, but requires the approval by the holders of at least a majority
of the then outstanding public warrants to make any change that adversely affects the interests of the registered holders of public
warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The warrants may be exercised upon surrender
of the warrant certificate on or prior to the expiration date at the offices of the warrant agent, with the exercise form on the
reverse side of the warrant certificate completed and executed as indicated, accompanied by full payment of the exercise price
(or on a cashless basis, if applicable), by certified or official bank check payable to us, for the number of warrants being exercised.
The warrantholders do not have the rights or privileges of holders of Class A common stock and any voting rights until they exercise
their warrants and receive shares of Class A common stock. After the issuance of shares of Class A common stock upon exercise
of the warrants, each holder will be entitled to one (1) vote for each share held of record on all matters to be voted on by stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In addition, if (x) we issue additional
shares of Class A common stock or equity-linked securities for capital raising purposes in connection with the closing of our
initial business combination at a Newly Issued Price of less than $9.20 per share of Class A common stock (with such issue price
or effective issue price to be determined in good faith by our board of directors and, in the case of any such issuance to our
sponsor or its affiliates, without taking into account any founder shares held by our sponsor or such affiliates, as applicable,
prior to such issuance), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds,
and interest thereon, available for the funding of our initial business combination on the date of the consummation of our initial
business combination (net of redemptions), and (z) the Market Value is below $9.20 per share, then the exercise price of the warrants
will be adjusted (to the nearest cent) to be equal to 115% of the greater of the Market Value and the Newly Issued Price, and
the $18.00 per share redemption trigger price described above will be adjusted (to the nearest cent) to be equal to 180% of the
greater of the Market Value and the Newly Issued Price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">No fractional shares will be issued upon
exercise of the warrants. If, upon exercise of the warrants, a holder would be entitled to receive a fractional interest in a
share, we will, upon exercise, round down to the nearest whole number of shares of Class A common stock to be issued to the warrantholder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We have agreed that, subject to applicable
law, any action, proceeding or claim against us arising out of or relating in any way to the warrant agreement will be brought
and enforced in the courts of the State of New York or the United States District Court for the Southern District of New York,
and we irrevocably submit to such jurisdiction, which jurisdiction will be the exclusive forum for any such action, proceeding
or claim. See &ldquo;Risk Factors &mdash; Our warrant agreement will designate the courts of the State of New York or the United
States District Court for the Southern District of New York as the sole and exclusive forum for certain types of actions and proceedings
that may be initiated by holders of our warrants, which could limit the ability of warrant holders to obtain a favorable judicial
forum for disputes with our company.&rdquo; This provision applies to claims under the Securities Act but does not apply to claims
under the Exchange Act or any claim for which the federal district courts of the United States of America are the sole and exclusive
forum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Private Placement Warrants</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The private placement warrants (including
the Class A common stock issuable upon exercise of the private placement warrants) will not be transferable, assignable or salable
until 30 days after the completion of our initial business combination (except, among other limited exceptions as described under
the section of this prospectus entitled &ldquo;Principal Stockholders &mdash; Restrictions on Transfers of Founder Shares and
Private Placement Warrants,&rdquo; to our officers and directors and other persons or entities affiliated with our sponsor) and
they will not be redeemable by us so long as they are held by our sponsor or its permitted transferees. Our sponsor, or its permitted
transferees, has the option to exercise the private placement warrants on a cashless basis. Except as described below, the private
placement warrants have terms and provisions that are identical to those of the warrants being sold as part of the units in this
offering, including as to exercise price, exercisability and exercise period. If the private placement warrants are held by holders
other than the sponsor or its permitted transferees, the private placement warrants will be redeemable by us and exercisable by
the holders on the same basis as the warrants included in the units being sold in this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 121 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->117<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">If holders of the private placement warrants
elect to exercise them on a cashless basis, they would pay the exercise price by surrendering their warrants for that number of
shares of Class A common stock equal to the quotient obtained by dividing (x) the product of the number of shares of Class A common
stock underlying the warrants, multiplied by the difference between the exercise price of the warrants and the &ldquo;fair market
value&rdquo; (defined below) by (y) the fair market value. The &ldquo;fair market value&rdquo; shall mean the average reported
last sale price of the Class A common stock for the 10 trading days ending on the third trading day prior to the date on which
the notice of warrant exercise is sent to the warrant agent. The reason that we have agreed that these warrants will be exercisable
on a cashless basis so long as they are held by the sponsor or its permitted transferees is because it is not known at this time
whether they will be affiliated with us following an initial business combination. If they remain affiliated with us, their ability
to sell our securities in the open market will be significantly limited. We expect to have policies in place that prohibit insiders
from selling our securities except during specific periods of time. Even during such periods of time when insiders will be permitted
to sell our securities, an insider cannot trade in our securities if he or she is in possession of material non-public information.
Accordingly, unlike public stockholders who could sell the shares of Class A common stock issuable upon exercise of the warrants
freely in the open market, the insiders could be significantly restricted from doing so. As a result, we believe that allowing
the holders to exercise such warrants on a cashless basis is appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In order to finance transaction costs in
connection with an intended initial business combination, our sponsor or an affiliate of our sponsor or certain of our officers
and directors may, but are not obligated to, loan us funds as may be required. Up to $1,500,000 of such loans may be convertible
into warrants at a price of $1.00 per warrant at the option of the lender. Such warrants would be identical to the private placement
warrants, including as to exercise price, exercisability and exercise period. The terms of such working capital loans by our sponsor
or its affiliates, or our officers and directors, if any, have not been determined and no written agreements exist with respect
to such loans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our sponsor has agreed not to transfer,
assign or sell any of the private placement warrants (including the Class A common stock issuable upon exercise of any of these
warrants) until the date that is 30 days after the date we complete our initial business combination, except that, among other
limited exceptions as described under the section of this prospectus entitled &ldquo;Principal Stockholders &mdash; Restrictions
on Transfers of Founder Shares and Private Placement Warrants&rdquo; made to our officers and directors and other persons or entities
affiliated with our sponsor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Dividends</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">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 an initial business combination. The payment
of cash dividends in the future will be dependent upon our revenues and earnings, if any, capital requirements and general financial
conditions subsequent to completion of an initial business combination. The payment of any cash dividends subsequent to an initial
business combination will be within the discretion of our board of directors at such time. If we increase or decrease the size
of the offering we will effect a stock dividend or a share contribution back to capital or other appropriate mechanism, as applicable,
with respect to our Class B common stock immediately prior to the consummation of the offering in such amount as to maintain the
ownership of our initial stockholders at 20.0% of the issued and outstanding shares of our common stock upon the consummation
of 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 Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Our Transfer Agent and Warrant Agent</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The transfer agent for our common stock
and warrant agent for our warrants is Continental Stock Transfer &amp; Trust Company. We have agreed to indemnify Continental
Stock Transfer &amp; Trust Company in its roles as transfer agent and warrant agent, its agents and each of its stockholders,
directors, officers and employees against all claims and losses that may arise out of acts performed or omitted for its activities
in that capacity, except for any liability due to any gross negligence, willful misconduct or bad faith of the indemnified person
or entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 122 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->118<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Our Amended and Restated Certificate of Incorporation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our amended and restated certificate of
incorporation will contain certain requirements and restrictions relating to this offering that will apply to us until the completion
of our initial business combination. These provisions cannot be amended without the approval of the holders of 65% of our common
stock. Our initial stockholders, who will collectively beneficially own 20% of our common stock upon the closing of this offering
(assuming they do not purchase any units in this offering), will participate in any vote to amend our amended and restated certificate
of incorporation and will have the discretion to vote in any manner they choose. Specifically, our amended and restated certificate
of incorporation provides, among other things, that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: left">If we do
                                         not complete our initial business combination within 24 months from the closing of this
                                         offering, we will (i) cease all operations except for the purpose of winding up, (ii)
                                         as promptly as reasonably possible but not more than ten business days thereafter subject
                                         to lawfully available funds therefor, redeem 100% of the public shares, at a per-share
                                         price, payable in cash, equal to the aggregate amount then on deposit in the trust account
                                         including interest earned on the funds held in the trust account and not previously released
                                         to us to pay our taxes (less up to $100,000 of interest to pay dissolution expenses),
                                         divided by the number of then outstanding public shares, which redemption will completely
                                         extinguish public stockholders&rsquo; rights as stockholders (including the right to
                                         receive further liquidating distributions, if any), subject to applicable law, and (iii)
                                         as promptly as reasonably possible following such redemption, subject to the approval
                                         of our remaining stockholders and our board of directors, dissolve and liquidate, subject
                                         in each case to our obligations under Delaware law to provide for claims of creditors
                                         and the requirements of other applicable law;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: left">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;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: left">Although
                                         we do not intend to enter into an initial business combination with a target business
                                         that is affiliated with our sponsor, our directors or our officers, we are not prohibited
                                         from doing so. In the event we enter into such a transaction, we, or a committee of independent
                                         directors, will obtain an opinion from an independent investment banking firm or from
                                         another independent entity that commonly renders valuation opinions that such an initial
                                         business combination is fair to our company from a financial point of view;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: left">If a stockholder
                                         vote on our initial business combination is not required by law and we do not decide
                                         to hold a stockholder vote for business or other legal reasons, we will offer to redeem
                                         our public shares pursuant to Rule 13e-4 and Regulation 14E of the Exchange Act, and
                                         will file tender offer documents with the SEC prior to completing our initial business
                                         combination which contain substantially the same financial and other information about
                                         our initial business combination and the redemption rights as is required under Regulation
                                         14A of the Exchange Act; whether or not we maintain our registration under the our Exchange
                                         Act or our listing on Nasdaq, we will provide our public stockholders with the opportunity
                                         to redeem their public shares by one of the two methods listed above;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: left">So long
                                         as we obtain and maintain a listing for our securities on Nasdaq, Nasdaq rules require
                                         that (i) we must complete one or more business combinations having an aggregate fair
                                         market value of at least 80% of the value of the assets held in the trust account (excluding
                                         the deferred underwriting commissions and taxes payable on the interest earned on the
                                         trust account) at the time of our signing a definitive agreement in connection with our
                                         initial business combination and (ii) any initial business combination must be approved
                                         by a majority of our independent directors;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: left">If our stockholders
                                         approve an amendment to our amended and restated certificate of incorporation (i) to
                                         modify the substance or timing of our obligation to redeem 100% of our public shares
                                         if we do not complete our initial business combination within 24 months from the closing
                                         of this offering or (ii) with respect to any other provision relating to stockholders&rsquo;
                                         rights or pre-business combination activity, we will provide our public stockholders
                                         with the opportunity to redeem all or a portion of their shares of Class A common stock
                                         upon such approval at a per-share price, payable in cash, equal to the aggregate amount
                                         then on deposit in the trust account, including interest earned on the funds held in
                                         the trust account and not previously released to us to pay our taxes, divided by the
                                         number of then outstanding public shares; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: left">We will
                                         not effectuate our initial business combination with another blank check company or a
                                         similar company with nominal operations.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 123 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->119<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In addition, our amended and restated certificate
of incorporation will provide that under no circumstances will we redeem our public shares unless our net tangible assets are
at least $5,000,001 either immediately prior to or upon consummation of our initial business combination and after payment of
underwriters&rsquo; fees and commissions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Certain Anti-Takeover Provisions of Delaware Law and our
Amended and Restated Certificate of Incorporation and Bylaws</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We will be subject to the provisions of
Section 203 of the DGCL regulating corporate takeovers upon completion of this offering. This statute prevents certain Delaware
corporations, under certain circumstances, from engaging in a &ldquo;business combination&rdquo; with:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
stockholder who owns 15% or more of our outstanding voting stock (otherwise known as an &ldquo;interested stockholder&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;an
affiliate of an interested stockholder; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;an
associate of an interested stockholder, for three years following the date that the stockholder became an interested stockholder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">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 Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;our
board of directors approves the transaction that made the stockholder an &ldquo;interested stockholder,&rdquo; prior to the date
of the transaction;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;on
or subsequent to the date of the transaction, the initial 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our amended and restated certificate of
incorporation will provide that our board of directors will be classified into three classes of directors. As a result, in most
circumstances, a person can gain control of our board only by successfully engaging in a proxy contest at two or more annual meetings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our authorized but unissued common stock
and preferred stock are available for future issuances without stockholder approval and could be utilized for a variety of corporate
purposes, including future offerings to raise additional capital, acquisitions and employee benefit plans. The existence of authorized
but unissued and unreserved common stock and preferred stock could render more difficult or discourage an attempt to obtain control
of us by means of a proxy contest, tender offer, merger or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Exclusive forum for certain lawsuits</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our amended and restated certificate of
incorporation will require, to the fullest extent permitted by law, that (i)&nbsp;any derivative action or proceeding brought
on our behalf, (ii)&nbsp;any action asserting a claim of breach of a fiduciary duty owed by any director, officer or other employee
to us or our stockholders, (iii)&nbsp;any action asserting a claim against us, our directors, officers or employees arising pursuant
to any provision of the DGCL or our amended and restated certificate of incorporation or bylaws, or (iv)&nbsp;any action asserting
a claim against us, our directors, officers or employees governed by the internal affairs doctrine may be brought only in the
Court of Chancery in the State of Delaware, except any action (A) as to which the Court of Chancery in the State of Delaware determines
that there is an indispensable party not subject to the jurisdiction of the Court of Chancery (and the indispensable party does
not consent to the personal jurisdiction of the Court of Chancery within ten days following such determination), (B) which is
vested in the exclusive jurisdiction of a court or forum other than the Court of Chancery or (C) for which the Court of Chancery
does not have subject matter jurisdiction. If an action is brought outside of Delaware, the stockholder bringing the suit will
be deemed to have consented to service of process on such stockholder&rsquo;s counsel. Although we believe this provision benefits
us by providing increased consistency in the application of law in the types of lawsuits to which it applies, a court may determine
that this provision is unenforceable, and to the extent it is enforceable, the provision may have the effect of discouraging lawsuits
against our directors and officers, although our stockholders will not be deemed to have waived our compliance with federal securities
laws and the rules and regulations thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 124 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->120<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Notwithstanding the foregoing, our amended
and restated certificate of incorporation will provide that the exclusive forum provision will be applicable to the fullest extent
permitted by applicable law, subject to certain exceptions. Section 27 of the Exchange Act creates exclusive federal jurisdiction
over all suits brought to enforce any duty or liability created by the Exchange Act or the rules and regulations thereunder. As
a result, the exclusive forum provision will not apply to suits brought to enforce any duty or liability created by the Exchange
Act or any other claim for which the federal courts have exclusive jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Additionally, unless we consent in writing
to the selection of an alternative forum, the federal courts shall be the exclusive forum for the resolution of any complaint
asserting a cause of action arising under the Securities Act against us or any of our directors, officers, other employees or
agents. Section 22 of the Securities Act, however, created concurrent jurisdiction for federal and state courts over all suits
brought to enforce any duty or liability created by the Securities Act or the rules and regulations thereunder. Accordingly, there
is uncertainty as to whether a court would enforce such provisions, and the enforceability of similar choice of forum provisions
in other companies&rsquo; charter documents has been challenged in legal proceedings. While the Delaware courts have determined
that such exclusive forum provisions are facially valid, a stockholder may nevertheless seek to bring a claim in a venue other
than those designated in the exclusive forum provisions, and there can be no assurance that such provisions will be enforced by
a court in those other jurisdictions. Any person or entity purchasing or otherwise acquiring any interest in our securities shall
be deemed to have notice of an consented to these provisions; however, we note that investors cannot waive compliance with the
federal securities laws and the rules and regulations thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Special meeting of stockholders</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our bylaws provide that special meetings
of our stockholders may be called only by a majority vote of our board of directors, by our Chief Executive Officer or by our
Chairman.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Advance notice requirements for stockholder proposals
and director nominations</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our bylaws provide that stockholders seeking
to bring business before our annual meeting of stockholders, or to nominate candidates for election as directors at our annual
meeting of stockholders, must provide timely notice of their intent in writing. To be timely, a stockholder&rsquo;s notice will
need to be received by the company secretary at our principal executive offices not later than the close of business on the 90<SUP>th
</SUP>day nor earlier than the opening of business on the 120<SUP>th</SUP> day prior to the anniversary date of the immediately
preceding annual meeting of stockholders. Pursuant to Rule 14a-8 of the Exchange Act, proposals seeking inclusion in our annual
proxy statement must comply with the notice periods contained therein. Our bylaws also specify certain requirements as to the
form and content of a stockholders&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 Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Action by written consent</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Subsequent to the consummation of the offering,
any action required or permitted to be taken by our common stockholders must be effected by a duly called annual or special meeting
of such stockholders and may not be effected by written consent of the stockholders other than with respect to our Class B common
stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Classified Board of Directors</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our board of directors will initially be
divided into three classes, Class I, Class II and Class III, with members of each class serving staggered three-year terms. Our
amended and restated certificate of incorporation will provide that the authorized number of directors may be changed only by
resolution of the board of directors. Subject to the terms of any preferred stock, any or all of the directors may be removed
from office at any time, but only for cause and only by the affirmative vote of holders of a majority of the voting power of all
then outstanding shares of our capital stock entitled to vote generally in the election of directors, voting together as a single
class. Any vacancy on our board of directors, including a vacancy resulting from an enlargement of our board of directors, may
be filled only by vote of a majority of our directors then in office.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Class B Common Stock Consent Right</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">For so long as any shares of Class B common
stock remain outstanding, we may not, without the prior vote or written consent of the holders of a majority of the shares of
Class B common stock then outstanding, voting separately as a single class, amend, alter or repeal any provision of our certificate
of incorporation, whether by merger, consolidation or otherwise, if such amendment, alteration or repeal would alter or change
the powers, preferences or relative, participating, optional or other or special rights of the Class B common stock. Any action
required or permitted to be taken at any meeting of the holders of Class B common stock may be taken without a meeting, without
prior notice and without a vote, if a consent or consents in writing, setting forth the action so taken, shall be signed by the
holders of the outstanding Class B common stock having not less than the minimum number of votes that would be necessary to authorize
or take such action at a meeting at which all shares of Class B common stock were present and voted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 125 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->121<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Securities Eligible for Future Sale</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Immediately after the consummation of this
offering (assuming no exercise of the underwriters&rsquo; over-allotment option) we will have 12,500,000 (or 14,375,000 if the
underwriters&rsquo; over-allotment option is exercised in full) shares of common stock outstanding. Of these shares, the 12,500,000
shares (or 14,375,000 if the underwriters&rsquo; over-allotment option is exercised in full) sold in this offering will be freely
tradable without restriction or further registration under the Securities Act, except for any shares purchased by one of our affiliates
within the meaning of Rule 144 under the Securities Act. All of the remaining 3,125,000 (or 3,593,750 if the underwriters&rsquo;
over-allotment option is exercised in full) shares and all 4,250,000 (or 4,625,000 if the over-allotment option exercised in full)
private placement warrants are restricted securities under Rule 144, in that they were issued in private transactions not involving
a public offering, and the shares of Class B common stock and private placement warrants are subject to transfer restrictions
as set forth elsewhere in this prospectus. These restricted securities will be entitled to registration rights as more fully described
below under &ldquo;&mdash; Registration Rights.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Rule 144</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Pursuant to Rule 144, a person who has beneficially
owned restricted shares of our common stock or warrants for at least six months would be entitled to sell their securities provided
that (i) such person is not deemed to have been one of our affiliates at the time of, or at any time during the three months preceding,
a sale and (ii) we are subject to the Exchange Act periodic reporting requirements for at least three months before the sale and
have filed all required reports under Section 13 or 15(d) of the Exchange Act during the 12 months (or such shorter period as
we were required to file reports) preceding the sale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Persons who have beneficially owned restricted
shares of our common stock or warrants for at least six months but who are our affiliates at the time of, or at any time during
the three months preceding, a sale, would be subject to additional restrictions, by which such person would be entitled to sell
within any three-month period only a number of securities that does not exceed the greater of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1%
of the total number of shares of Class A common stock then outstanding, which will equal 156,250 shares immediately after this
offering (or 179,688 if the underwriters exercise their over-allotment option in full); or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
average weekly reported trading volume of the Class A common stock during the four calendar weeks preceding the filing of a notice
on Form 144 with respect to the sale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Sales by our affiliates under Rule 144 are
also limited by manner of sale provisions and notice requirements and to the availability of current public information about
us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Restrictions on the Use of Rule 144 by Shell Companies or
Former Shell Companies</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">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 Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
issuer of the securities that was formerly a shell company has ceased to be a shell company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
issuer of the securities is subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
issuer of the securities has filed all Exchange Act reports and materials required to be filed, as applicable, during the preceding
12 months (or such shorter period that the issuer was required to file such reports and materials), other than Current Reports
on Form 8-K; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"></P>

<!-- Field: Page; Sequence: 126 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->122<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">As a result, our initial stockholders will
be able to sell their founder shares and private placement warrants, as applicable, pursuant to Rule 144 without registration
one year after we have completed our initial business combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Registration Rights</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The holders of the founder shares, private
placement warrants and warrants that may be issued upon conversion of working capital loans (and any shares of Class A common
stock issuable upon the exercise of the private placement warrants and warrants that may be issued upon conversion of working
capital loans and upon conversion of the founder shares) will be entitled to registration rights pursuant to a registration and
shareholder rights agreement to be signed prior to or on the effective date of this offering, requiring us to register such securities
for resale (in the case of the founder shares, only after conversion to our Class A common stock). The holders of the majority
of these securities are entitled to make up to three demands, excluding short form demands, that we register such securities.
In addition, the holders have certain &ldquo;piggy-back&rdquo; registration rights with respect to registration statements filed
subsequent to our completion of our initial business combination and rights to require us to register for resale such securities
pursuant to Rule 415 under the Securities Act. We will bear the expenses incurred in connection with the filing of any such registration
statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Listing of Securities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We have applied to list
our units, Class A common stock and warrants on Nasdaq under the symbols &ldquo;SGAMU,&rdquo; &ldquo;SGAM&rdquo; and &ldquo;SGAMW,&rdquo;
respectively. We expect that our units will be listed on Nasdaq on or promptly after the effective date of the registration statement.
Following the date the shares of our Class A common stock and warrants are eligible to trade separately, we anticipate that the
shares of our Class A common stock and warrants will be listed separately and as a unit on Nasdaq. We cannot guarantee that our
securities will be approved for listing on Nasdaq.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 127 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->123<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="material"></A>MATERIAL U.S.
FEDERAL INCOME TAX CONSIDERATIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The following discussion is a summary of
material U.S. federal income tax consequences generally applicable to the acquisition, ownership and disposition of our units,
shares of Class A common stock and warrants, which we refer to collectively as our securities. Because the components of a unit
are separable at the option of the holder, the holder of a unit generally should be treated, for U.S. federal income tax purposes,
as the owner of the underlying shares of Class A common stock and one-half of one redeemable warrant components of the unit, as
the case may be. As a result, the discussion below with respect to actual holders of Class A common stock and warrants should
also apply to holders of units (as the deemed owners of the underlying Class A common stock and warrants that comprise the units).
This discussion applies only to securities that are held as capital assets for U.S. federal income tax purposes and is applicable
only to holders who purchased units in this offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">This discussion is a summary only and does
not describe all of the tax consequences that may be relevant to you in light of your particular circumstances, including but
not limited to the alternative minimum tax, the Medicare tax on certain investment income and the different consequences that
may apply if you are subject to special rules that apply to certain types of investors, including but not limited to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">financial
                                         institutions or financial services entities;</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: left">&bull;</TD><TD STYLE="text-align: justify">broker-dealers;</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: left">&bull;</TD><TD STYLE="text-align: justify">governments or agencies or instrumentalities
                                         thereof;</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: left">&bull;</TD><TD STYLE="text-align: justify">regulated investment companies;</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: left">&bull;</TD><TD STYLE="text-align: justify">real estate investment trusts;</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: left">&bull;</TD><TD STYLE="text-align: justify">expatriates or former long-term residents
                                         of the United States;</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: left">&bull;</TD><TD STYLE="text-align: justify">persons that actually or constructively
                                         own 5% or more of our voting shares;</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: left">&bull;</TD><TD STYLE="text-align: justify">persons that acquired our securities pursuant
                                         to an exercise of employee share options, in connection with employee share incentive
                                         plans or otherwise as compensation;</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: left">&bull;</TD><TD STYLE="text-align: justify">insurance companies;</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: left">&bull;</TD><TD STYLE="text-align: justify">dealers or traders subject to a mark-to-market
                                         method of accounting with respect to the securities;</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: left">&bull;</TD><TD STYLE="text-align: justify">persons holding the securities as part
                                         of a &ldquo;straddle,&rdquo; hedge, constructive sale, conversion, or other integrated
                                         transaction or similar transaction;</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: left">&bull;</TD><TD STYLE="text-align: justify">U.S. holders (as defined below) whose
                                         functional currency is not the U.S. dollar;</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: left">&bull;</TD><TD STYLE="text-align: justify">entities or arrangements treated as partnerships
                                         or other pass-through entities for U.S. federal income tax purposes and any beneficial
                                         owners of such partnerships or entities; and</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD></TD><TD STYLE="text-align: left">&bull;</TD><TD STYLE="text-align: justify">tax-exempt entities.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">If you are a partner in a partnership (or
entity or other arrangements treated as a partnership for U.S. federal income tax purposes), the U.S. federal income tax consequences
to your partners will depend on the status and activities of the partners and the partnership. If you are a partnership considering
an investment in our securities, or a partner therein, you should consult your tax advisor concerning the tax consequences of
your investment of our securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">This discussion is based on the Internal
Revenue Code of 1986, as amended (the &ldquo;Code&rdquo;), and administrative pronouncements, judicial decisions and final, temporary
and proposed Treasury regulations as of the date hereof, which are subject to change, possibly on a retroactive basis, and changes
to any of which subsequent to the date of this prospectus may affect the tax consequences described herein. We have not sought,
and do not intend to seek, a ruling from the IRS with respect to the statements made and conclusions reached in this summary.
There is no guarantee that the IRS or any court would agree with such statements and conclusions. This discussion does not address
any aspect of state, local or non-U.S. taxation, or any U.S. federal taxes other than income taxes (such as gift and estate taxes).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">You are urged to consult your tax advisor
with respect to the application of U.S. federal tax laws to your particular situation, as well as any tax consequences arising
under the laws of any state, local or non-U.S. jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>1</SUP> Subject to review by W&amp;C tax</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 128 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->124<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Personal Holding Company Status</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We could be subject to a second level of
U.S. federal income tax on a portion of our income if we are determined to be a personal holding company, or PHC, for U.S. federal
income tax purposes. A U.S. corporation generally will be classified as a PHC for U.S. federal income tax purposes in a given
taxable year if (i) at any time during the last half of such taxable year, five or fewer individuals (without regard to their
citizenship or residency and including as individuals for this purpose certain entities such as certain tax-exempt organizations,
pension funds and charitable trusts) own or are deemed to own (pursuant to certain constructive ownership rules) more than 50%
of the stock of the corporation by value and (ii) at least 60% of the corporation&rsquo;s adjusted ordinary gross income, as determined
for U.S. federal income tax purposes, for such taxable year consists of PHC income (which includes, among other things, dividends,
interest, certain royalties, annuities and, under certain circumstances, rents).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Depending on the date and size of our initial
business combination, it is possible that at least 60% of our adjusted ordinary gross income may consist of PHC income. In addition,
depending on the concentration of our stock in the hands of individuals, including the members of our sponsor and certain tax-exempt
organizations, pension funds and charitable trusts, it is possible that more than 50% of our stock may be owned or deemed owned
(pursuant to the constructive ownership rules) by such persons during the last half of a taxable year. Thus, no assurance can
be given that we will not be a PHC following this offering or in the future. If we are or were to become a PHC in a given taxable
year, we would be subject to an additional PHC tax, currently 20%, on our undistributed PHC income, which generally includes our
taxable income, subject to certain adjustments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Allocation of Purchase Price and Characterization of a Unit</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">No statutory, administrative or judicial
authority directly addresses the treatment of a unit or any instrument similar to a unit for U.S. federal income tax purposes
and, therefore, that treatment is not entirely clear. The acquisition of a unit should be treated for U.S. federal income tax
purposes as the acquisition of one share of our Class A common stock and one-half of one warrant to acquire one share of our Class
A common stock. 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 Class A common stock and the one-half of one warrant based on the relative fair market
value of each at the time of issuance. The price allocated to each share of Class A common stock and the one-half of one warrant
should be the stockholder&rsquo;s tax basis in such share or one-half of one warrant, as the case may be. Any disposition of a
unit should be treated for U.S. federal income tax purposes as a disposition of the share of Class A common stock and one-half
of one warrant comprising the unit, and the amount realized on the disposition should be allocated between the Class A common
stock and the one-half of one warrant based on their respective relative fair market values at the time of disposition. The separation
of shares of Class A common stock and warrants comprising units and the combination of two halves of warrants into a single warrant
should not be a taxable event for U.S. federal income tax purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The foregoing treatment of the units, shares
of Class A common stock and warrants and a holder&rsquo;s purchase price allocation are not binding on the Internal Revenue Service
(&ldquo;IRS&rdquo;) or the courts. Because there are no authorities that directly address instruments that are similar to the
units, no assurance can be given that the IRS or the courts will agree with the characterization described above or the discussion
below. Accordingly, each prospective investor is urged to consult its own tax advisors regarding the tax consequences of an investment
in a unit (including alternative characterizations of a unit). The balance of this discussion assumes that the characterization
of the units described above is respected for U.S. federal income tax purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>U.S. Holders</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">This section applies to you if you are a
 &ldquo;U.S. holder.&rdquo; A U.S. holder is a beneficial owner of our units, shares of Class A common stock or warrants who or
that is, for U.S. federal income tax purposes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">an individual
                                         who is a citizen or resident of the United States;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">a corporation
                                         (or other entity taxable as a corporation for U.S. federal income tax purposes) organized
                                         in or under the laws of the United States, any state thereof or the District of Columbia;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">an estate
                                         the income of which is includible in gross income for U.S. federal income tax purposes
                                         regardless of its source; or</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"></P>

<!-- Field: Page; Sequence: 129 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->125<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">a trust,
                                         if (i) a court within the United States is able to exercise primary supervision over
                                         the administration of the trust and one or more United States persons (as defined in
                                         the Code) have authority to control all substantial decisions of the trust or (ii) it
                                         has a valid election in effect under Treasury Regulations to be treated as a United States
                                         person.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><I>Taxation of Distributions.</I>&nbsp;&nbsp;&nbsp;&nbsp;If
we pay distributions in cash or other property (other than certain distributions of our shares or rights to acquire our shares)
to U.S. holders of shares of our Class A common stock, such distributions generally will constitute dividends for U.S. federal
income tax purposes to the extent paid from our current or accumulated earnings and profits, as determined under U.S. federal
income tax principles. Distributions in excess of current and accumulated earnings and profits will constitute a return of capital
that will be applied against and reduce (but not below zero) the U.S. holder&rsquo;s adjusted tax basis in our Class A common
stock. Any remaining excess will be treated as gain realized on the sale or other disposition of the Class A common stock and
will be treated as described under &ldquo;U.S. Holders &mdash; Gain or Loss on Sale, Taxable Exchange or Other Taxable Disposition
of Class A Common Stock and Warrants&rdquo; below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Dividends we pay to a U.S. holder that is
a taxable corporation generally will qualify for the dividends received deduction if the requisite holding period is satisfied.
With certain exceptions (including, but not limited to, dividends treated as investment income for purposes of investment interest
deduction limitations), and provided certain holding period requirements are met, dividends we pay to a non-corporate U.S. holder
generally will constitute &ldquo;qualified dividends&rdquo; that will be subject to tax at preferential long-term capital gains
rates. It is unclear whether the redemption rights with respect to the Class A common stock described in this prospectus may prevent
a U.S. holder from satisfying the applicable holding period requirements with respect to the dividends received deduction or the
preferential tax rate on qualified dividend income, as the case may be. If the holding period requirements are not satisfied,
then a corporation may not be able to qualify for the dividends received deduction and would have taxable income equal to the
entire dividend amount, and non-corporate holders may be subject to tax on such dividend at regular ordinary income tax rates
instead of the preferential rate that applies to qualified dividend income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><I>Gain or Loss on Sale, Taxable Exchange
or Other Taxable Disposition of Class A Common Stock and Warrants.</I>&nbsp;&nbsp;&nbsp;&nbsp;Upon a sale or other taxable disposition
of our Class A common stock or warrants (which, in general, would include a redemption of Class A common stock or warrants that
is treated as a sale of such securities as described below, including as a result of a dissolution and liquidation in the event
we do not consummate an initial business combination within the required time period), a U.S. holder generally will recognize
capital gain or loss in an amount calculated as discussed in the following paragraph. Any such capital gain or loss generally
will be long-term capital gain or loss if the U.S. holder&rsquo;s holding period for the Class A common stock or warrants so disposed
of exceeds one year. It is unclear, however, whether the redemption rights with respect to the Class A common stock described
in this prospectus may suspend the running of the applicable holding period for this purpose. If the running of the holding period
for the Class A common stock is suspended, then non-corporate U.S.&nbsp;holders may not be able to satisfy the one-year holding
period requirement for long-term capital gain treatment, in which case any gain on a sale or taxable disposition of the shares
would be subject to short-term capital gain treatment and would be taxed at regular ordinary income tax rates. Long-term capital
gains recognized by non-corporate U.S. holders will be eligible to be taxed at reduced rates. The deductibility of capital losses
is subject to limitations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Generally, the amount of gain or loss recognized
by a U.S. holder is an amount equal to the difference between (i) the sum of the amount of cash and the fair market value of any
property received in such disposition (or, if the Class A common stock or warrants are held as part of units at the time of the
disposition, the portion of the amount realized on such disposition that is allocated to the Class A common stock or the warrants
based upon the then fair market values of the Class A common stock and the warrants included in the units) and (ii) the U.S. holder&rsquo;s
adjusted tax basis in its Class A common stock or warrants so disposed of. A U.S. holder&rsquo;s adjusted tax basis in its Class
A common stock or warrants generally will equal the U.S. holder&rsquo;s acquisition cost (that is, as discussed above, the portion
of the purchase price of a unit allocated to a share of Class A common stock or one-half of one warrant or, as discussed below,
the U.S. holder&rsquo;s initial basis for Class A common stock received upon exercise of warrants) less, in the case of a share
of Class A common stock, any prior distributions treated as a return of capital as discussed above under the heading &ldquo;&mdash;
Taxation of Distributions.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><I>Redemption of Class A Common Stock.</I>&nbsp;&nbsp;&nbsp;&nbsp;In
the event that a U.S. holder&rsquo;s Class A common stock is redeemed pursuant to the redemption provisions described in this
prospectus under the section of this prospectus entitled &ldquo;Description of Securities &mdash; Common Stock&rdquo; or if we
purchase a U.S. holder&rsquo;s Class A common stock in an open market transaction (each of which we refer hereto as a &ldquo;redemption&rdquo;),
the treatment of the transaction for U.S. federal income tax purposes will depend on whether the redemption qualifies as a sale
of the Class A common stock under Section 302 of the Code. If the redemption qualifies as a sale of the Class A common stock,
the U.S. holder will be treated as described under &ldquo;U.S. Holders &mdash; Gain or Loss on Sale, Taxable Exchange or Other
Taxable Disposition of Class A Common Stock and Warrants&rdquo; above. If the redemption does not qualify as a sale of the Class
A common stock, the U.S. holder will be treated as receiving a corporate distribution with the tax consequences described above
under &ldquo;U.S. Holders &mdash; Taxation of Distributions&rdquo;. Whether a redemption qualifies for sale treatment will depend
largely on the total number of shares of our stock treated as held by the U.S. holder (including any stock constructively owned
by the U.S. holder as a result of owning warrants) relative to all of our shares outstanding both before and after the redemption.
The redemption of Class A common stock generally will be treated as a sale of the Class A common stock (rather than as a corporate
distribution) if the redemption (i) is &ldquo;substantially disproportionate&rdquo; with respect to the U.S. holder, (ii) results
in a &ldquo;complete termination&rdquo; of the U.S. holder&rsquo;s interest in us or (iii) is &ldquo;not essentially equivalent
to a dividend&rdquo; with respect to the U.S. holder. These tests are explained more fully below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 130 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->126<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In determining whether any of the foregoing
tests are satisfied, a U.S. holder takes into account not only stock actually owned by the U.S. holder, but also shares of our
stock that are constructively owned by it. A U.S. holder may constructively own, in addition to stock owned directly, stock owned
by certain related individuals and entities in which the U.S. holder has an interest or that have an interest in such U.S. holder,
as well as any stock the U.S.&nbsp;holder has a right to acquire by exercise of an option, which would generally include Class
A common stock which could be acquired pursuant to the exercise of the warrants. In order to meet the substantially disproportionate
test, the percentage of our outstanding voting stock actually and constructively owned by the U.S. holder immediately following
the redemption of Class A common stock must, among other requirements, be less than 80% of the percentage of our outstanding voting
stock actually and constructively owned by the U.S. holder immediately before the redemption. There will be a complete termination
of a U.S. holder&rsquo;s interest if either (i) all of the shares of our stock actually and constructively owned by the U.S. holder
are redeemed or (ii) all of the shares of our stock actually owned by the U.S. holder are redeemed and the U.S. holder is eligible
to waive, and effectively waives in accordance with specific rules, the attribution of stock owned by certain family members and
the U.S. holder does not constructively own any other shares of our stock (including any stock constructively owned by the U.S.
holder as a result of owning warrants). The redemption of the Class A common stock will not be essentially equivalent to a dividend
if the redemption results in a &ldquo;meaningful reduction&rdquo; of the U.S.&nbsp;holder&rsquo;s proportionate interest in us.
Whether the redemption will result in a meaningful reduction in a U.S. holder&rsquo;s proportionate interest in us will depend
on the particular facts and circumstances. However, the IRS has indicated in a published ruling that even a small reduction in
the proportionate interest of a small minority stockholder in a publicly held corporation who exercises no control over corporate
affairs may constitute such a &ldquo;meaningful reduction.&rdquo; A U.S. holder should consult with its own tax advisors as to
the tax consequences of a redemption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">If none of the foregoing tests is satisfied,
then the redemption will be treated as a corporate distribution and the tax effects will be as described under &ldquo;U.S. Holders
 &mdash; Taxation of Distributions,&rdquo; above. After the application of those rules, any remaining tax basis of the U.S. holder
in the redeemed Class A common stock will be added to the U.S. holder&rsquo;s adjusted tax basis in its remaining stock, or, if
it has none, to the U.S. holder&rsquo;s adjusted tax basis in its warrants or possibly in other stock constructively owned by
it.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><I>Exercise, Lapse or Redemption of a Warrant.</I>&nbsp;&nbsp;&nbsp;&nbsp;Except
as discussed below with respect to the cashless exercise of a warrant, a U.S. holder generally will not recognize taxable gain
or loss on the acquisition of our Class A common stock upon exercise of a warrant for cash. The U.S. holder&rsquo;s tax basis
in the share of our Class A common stock received upon exercise of the warrant generally will be an amount equal to the sum of
the U.S. holder&rsquo;s initial investment in the warrant (i.e.,&nbsp;the portion of the U.S. holder&rsquo;s purchase price for
a unit that is allocated to the warrant, as described above under &ldquo;&mdash;&nbsp;Allocation of Purchase Price and Characterization
of a Unit&rdquo;) and the exercise price. It is unclear whether the U.S. holder&rsquo;s holding period for the Class A common
stock received upon exercise of the warrants will begin on the date following the date of exercise or on the date of exercise
of the warrants; in either case, the holding period will not include the period during which the U.S. holder held the warrants.
If a warrant is allowed to lapse unexercised, a U.S. holder generally will recognize a capital loss equal to such holder&rsquo;s
tax basis in the warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The tax consequences of a cashless exercise
of a warrant are not clear under current tax law. A cashless exercise may be tax-free, either because the exercise is not a realization
event or because the exercise is treated as a recapitalization for U.S. federal income tax purposes. In either tax-free situation,
a U.S. holder&rsquo;s basis in the Class A common stock received would equal the holder&rsquo;s basis in the warrants exercised
therefor. If the cashless exercise were treated as not being a realization event, it is unclear whether a U.S. holder&rsquo;s
holding period in the Class A common stock would be treated as commencing on the date following the date of exercise or on the
date of exercise of the warrant. If the cashless exercise were treated as a recapitalization, the holding period of the Class
A common stock would include the holding period of the warrants exercised therefor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 131 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->127<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">It is also possible that a cashless exercise
could be treated in whole or in part as a taxable exchange in which gain or loss would be recognized. In such event, a U.S. holder
could be deemed to have surrendered a number of warrants equal to the number of shares of Class A common stock having an aggregate
fair market value equal to the exercise price for the total number of warrants to be exercised. The U.S. holder would recognize
capital gain or loss in an amount equal to the difference between the fair market value of the Class A common stock received in
respect of the warrants deemed surrendered and the U.S.&nbsp;holder&rsquo;s tax basis in the warrants deemed surrendered. In this
case, a U.S. holder&rsquo;s tax basis in the Class&nbsp;A common stock received would equal the sum of the U.S. holder&rsquo;s
initial investment in the warrants deemed exercised (i.e., the portion of the U.S. holder&rsquo;s purchase price for a unit that
is allocated to the warrant, as described above under &ldquo;&mdash; Allocation of Purchase Price and Characterization of a Unit&rdquo;)
and the exercise price of such warrants. It is unclear whether a U.S. holder&rsquo;s holding period for the Class A common stock
would commence on the date following the date of exercise or on the date of exercise of the warrant; in either case, the holding
period would not include the period during which the U.S. holder held the warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Due to the absence of authority on the U.S.
federal income tax treatment of a cashless exercise, including when a U.S. holder&rsquo;s holding period would commence with respect
to the Class A common stock received, there can be no assurance regarding which, if any, of the alternative tax consequences and
holding periods described above would be adopted by the IRS or a court of law. Accordingly, U.S. holders should consult their
tax advisors regarding the tax consequences of a cashless exercise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">If we redeem warrants for cash pursuant
to the redemption provisions described in the section of this prospectus entitled &ldquo;Description of Securities &mdash; Redeemable
Warrants &mdash; Public Stockholders&rsquo; Warrants&rdquo; or if we purchase warrants in an open market transaction, such redemption
or purchase generally will be treated as a taxable disposition to the U.S. holder, taxed as described above under &ldquo;&mdash;
U.S. Holders &mdash; Gain or Loss on Sale, Taxable Exchange or Other Taxable Disposition of Class A Common Stock and Warrants.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><I>Possible Constructive Distributions.</I>&nbsp;&nbsp;&nbsp;&nbsp;The
terms of each warrant provide for an adjustment to the number of shares of Class A common stock for which the warrant may be exercised
or to the exercise price of the warrant in certain events, as discussed in the section of this prospectus entitled &ldquo;Description
of Securities &mdash; Redeemable Warrants &mdash; Public Stockholders&rsquo; Warrants.&rdquo; An adjustment which has the effect
of preventing dilution generally is not taxable. U.S. holders of the warrants would, however, be treated as receiving a constructive
distribution from us if, for example, the adjustment to the number of such shares or to such exercise price increases the warrantholders&rsquo;
proportionate interest in our assets or earnings and profits (e.g., through an increase in the number of shares of Class A common
stock that would be obtained upon exercise or through a decrease in the exercise price of the warrant) as a result of a distribution
of cash or other property, such as other securities, to the holders of shares of our Class A common stock, or as a result of the
issuance of a stock dividend to holders of shares of our Class A common stock, in each case which is taxable to the holders of
such shares as a distribution. Such constructive distribution would be subject to tax in the same manner as if the U.S. holders
of the warrants received a cash distribution from us equal to the fair market value of such increased interest resulting from
the adjustment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><I>Information Reporting and Backup Withholding.</I>&nbsp;&nbsp;&nbsp;&nbsp;In
general, information reporting requirements may apply to dividends paid to a U.S. holder and to the proceeds of the sale or other
disposition of our units, shares of Class A common stock and warrants, unless the U.S. holder is an exempt recipient. Backup withholding
may apply to such payments if the U.S. holder fails to provide a taxpayer identification number, a certification of exempt status
or has been notified by the IRS that it is subject to backup withholding (and such notification has not been withdrawn).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Backup withholding is not an additional
tax. Any amounts withheld under the backup withholding rules will be allowed as a refund or a credit against a U.S. holder&rsquo;s
U.S. federal income tax liability provided the required information is timely furnished to the IRS.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">All U.S. holders should consult their tax
advisors regarding the application of information reporting and backup withholding to them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 132 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->128<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Non-U.S. Holders</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">This section applies to you if you are a
 &ldquo;Non-U.S. holder.&rdquo; As used herein, the term &ldquo;Non-U.S. holder&rdquo; means a beneficial owner of our units, Class
A common stock or warrants who or that is for U.S. federal income tax purposes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">a non-resident
                                         alien individual (other than certain former citizens and residents of the United States
                                         subject to U.S. tax as expatriates);</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">a foreign
                                         corporation; or</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">an estate
                                         or trust that is not a U.S. holder</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">but generally does not include an individual who is present
in the United States for 183 days or more in the taxable year of the disposition of our units, Class A common stock or warrants.
If you are such an individual, you should consult your tax advisor regarding the U.S.&nbsp;federal income tax consequences of
the acquisition, ownership or sale or other disposition of our securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><I>Taxation of Distributions.&nbsp;&nbsp;&nbsp;&nbsp;</I>In
general, any distributions (including constructive distributions) we make to a Non-U.S. holder of shares of our Class A common
stock, to the extent paid out of our current or accumulated earnings and profits (as determined under U.S. federal income tax
principles), will constitute dividends for U.S.&nbsp;federal income tax purposes and, provided such dividends are not effectively
connected with the Non-U.S. holder&rsquo;s conduct of a trade or business within the United States, we will be required to withhold
tax from the gross amount of the dividend at a rate of 30%, unless such Non-U.S. holder is eligible for a reduced rate of withholding
tax under an applicable income tax treaty and provides proper certification of its eligibility for such reduced rate (usually
on an IRS Form W-8BEN or W-8BEN-E). In the case of any constructive dividend, it is possible that this tax would be withheld from
any amount owed to a Non-U.S. holder by the applicable withholding agent, including cash distributions on other property or sales
proceeds from warrants or other property subsequently paid or credited to such holder. Any distribution not constituting a dividend
will be treated first as reducing (but not below zero) the Non-U.S. holder&rsquo;s adjusted tax basis in its shares of our Class
A common stock and, to the extent such distribution exceeds the Non-U.S. holder&rsquo;s adjusted tax basis, as gain realized from
the sale or other disposition of the Class A common stock, which will be treated as described under &ldquo;Non-U.S. Holders &mdash;
Gain on Sale, Taxable Exchange or Other Taxable Disposition of Class A Common Stock and Warrants&rdquo; below. In addition, if
we determine that we are classified as a &ldquo;United States real property holding corporation&rdquo; (see &ldquo;Non-U.S. Holders
 &mdash; Gain on Sale, Taxable Exchange or Other Taxable Disposition of Class A Common Stock and Warrants&rdquo; below), we will
withhold 15% of any distribution that exceeds our current and accumulated earnings and profits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The withholding tax does not apply to dividends
paid to a Non-U.S. holder who provides an IRS Form W-8ECI, certifying that the dividends are effectively connected with the Non-U.S.
holder&rsquo;s conduct of a trade or business within the United States and, under certain income tax treaties, attributable to
a permanent establishment or fixed base in the United States maintained by the Non-U.S. holder. Instead, the effectively connected
dividends will be subject to regular U.S. federal income tax as if the Non-U.S. holder were a United States resident, subject
to an applicable income tax treaty providing otherwise. A corporate Non-U.S. holder receiving effectively connected dividends
may also be subject to an additional &ldquo;branch profits tax&rdquo; imposed at a rate of 30% (or a lower applicable treaty rate).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 133 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->129<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><I>Gain on Sale, Taxable Exchange or Other
Taxable Disposition of Class A Common Stock and Warrants.&nbsp;&nbsp;&nbsp;&nbsp;</I>A&nbsp;Non-U.S. holder generally will not
be subject to U.S. federal income or withholding tax in respect of gain recognized on a sale, taxable exchange or other taxable
disposition of our Class A common stock, which would include a dissolution and liquidation in the event we do not complete an
initial business combination within the required time period, or warrants (including an expiration or redemption of our warrants),
in each case without regard to whether those securities were held as part of a unit, unless:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">the gain
                                         is effectively connected with the conduct of a trade or business by the Non-U.S. holder
                                         within the United States (and, under certain income tax treaties, is attributable to
                                         a permanent establishment or fixed base in the United States maintained by the Non-U.S.
                                         holder); or</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 24pt"></TD><TD STYLE="width: 24pt; text-align: left">&bull;</TD><TD STYLE="text-align: justify">we are
                                         or have been a &ldquo;United States real property holding corporation&rdquo; for U.S.
                                         federal income tax purposes at any time during the shorter of the five-year period ending
                                         on the date of disposition or the period that the Non-U.S. holder held our Class A common
                                         stock, and, in the case where shares of our Class A common stock are regularly traded
                                         on an established securities market, the Non-U.S. holder has owned, directly or constructively,
                                         more than 5% of our Class A common stock at any time within the shorter of the five-year
                                         period preceding the disposition or such Non-U.S. holder&rsquo;s holding period for the
                                         shares of our Class A common stock. There can be no assurance that our Class A common
                                         stock will be treated as regularly traded on an established securities market for this
                                         purpose.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Unless an applicable treaty provides otherwise,
gain described in the first bullet point above will be subject to tax at generally applicable U.S. federal income tax rates as
if the Non-U.S. holder were a United States resident. Any gains described in the first bullet point above of a Non-U.S. holder
that is a foreign corporation may also be subject to an additional &ldquo;branch profits tax&rdquo; at a 30% rate (or lower treaty
rate).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">If the second bullet point above applies
to a Non-U.S. holder, gain recognized by such holder on the sale, exchange or other disposition of our Class A common stock or
warrants will be subject to tax at generally applicable U.S. federal income tax rates. In addition, a buyer of our Class A common
stock or warrants from such holder may be required to withhold U.S. federal income tax at a rate of 15% of the amount realized
upon such disposition. We cannot determine whether we will be a United States real property holding corporation in the future
until we complete an initial business combination. We will be classified as a United States real property holding corporation
if the fair market value of our &ldquo;United States real property interests&rdquo; equals or exceeds 50% of the sum of the fair
market value of our worldwide real property interests plus our other assets used or held for use in a trade or business, as determined
for U.S. federal income tax purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><I>Redemption of Class A Common Stock.</I>&nbsp;&nbsp;&nbsp;&nbsp;The
characterization for U.S. federal income tax purposes of the redemption of a Non-U.S. holder&rsquo;s Class A common stock generally
will correspond to the U.S. federal income tax characterization of such a redemption of a U.S. holder&rsquo;s Class A common stock,
as described under &ldquo;U.S. Holders &mdash; Redemption of Class A Common Stock&rdquo; above, and the consequences of the redemption
to the Non-U.S. holder will be as described above under &ldquo;Non-U.S. Holders &mdash; Taxation of Distributions&rdquo; and &ldquo;Non-U.S.
Holders &mdash; Gain on Sale, Taxable Exchange or Other Taxable Disposition of Class A Common Stock and Warrants,&rdquo; as applicable.
Because it may not be certain at the time a Non-U.S. holder is redeemed whether such Non-U.S. holder&rsquo;s redemption will be
treated as a sale of shares or a distribution constituting a dividend, and because such determination will depend in part on a
Non-U.S. holder&rsquo;s particular circumstances, we or the applicable withholding agent may not be able to determine whether
(or to what extent) a Non-U.S. holder is treated as receiving a dividend for U.S. federal income tax purposes. Therefore, we or
the applicable withholding agent may withhold tax at a rate of 30% on the gross amount of any consideration paid to a Non-U.S.
holder in redemption of such Non-U.S. holder&rsquo;s Class A common stock unless special procedures are available to Non-U.S.
holders to certify that they are entitled to exemptions from, or reductions in, such withholding tax. However, there can be no
assurance that such special certification procedures will be available. A Non-U.S. holder generally may obtain a refund of any
such excess amounts withheld by timely filing an appropriate claim for refund with the IRS. Non-U.S. holders should consult their
own tax advisors regarding the application of the foregoing rules in light of their particular facts and circumstances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><I>Exercise, Lapse or Redemption of a Warrant.&nbsp;&nbsp;&nbsp;&nbsp;</I>The
U.S. federal income tax treatment of a Non-U.S. holder&rsquo;s exercise of a warrant, or the lapse of a warrant held by a Non-U.S.
holder, generally will correspond to the U.S. federal income tax treatment of the exercise or lapse of a warrant by a U.S. holder,
as described under &ldquo;U.S. Holders &mdash; Exercise, Lapse or Redemption of a Warrant&rdquo; above, although to the extent
a cashless exercise results in a taxable exchange, the consequences would be similar to those described below in &ldquo;Non-U.S.
Holders &mdash; Gain on Sale, Taxable Exchange or Other Taxable Disposition of Class A Common Stock and Warrants.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The characterization for U.S. federal income
tax purposes of the redemption of the Non-U.S. holder&rsquo;s warrants generally will correspond to the U.S. federal income tax
treatment of such a redemption of a U.S. holder&rsquo;s warrants, as described under &ldquo;U.S. Holders&mdash;Exercise, Lapse
or Redemption of a Warrant&rdquo; above, and the consequences of the redemption to the Non-U.S. holder will be as described below
under the heading &ldquo;Non-U.S. Holders &mdash; Gain on Sale, Taxable Exchange or Other Taxable Disposition of Class A Common
Stock and Warrants&rdquo; depending on such characterization.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><I>Possible Constructive Distributions</I>.&nbsp;&nbsp;&nbsp;&nbsp;The
terms of each warrant provide for an adjustment to the number of shares of Class A common stock for which the warrant may be exercised
or to the exercise price of the warrant in certain events, as discussed in the section of this prospectus entitled &ldquo;Description
of Securities &mdash; Redeemable Warrants &mdash; Public Stockholders&rsquo; Warrants.&rdquo; An adjustment which has the effect
of preventing dilution generally is not taxable. Non-U.S. holders of the warrants would, however, be treated as receiving a constructive
distribution from us if, for example, the adjustment to the number of such shares or to such exercise price increases the warrantholders&rsquo;
proportionate interest in our assets or earnings and profits (e.g., through an increase in the number of shares of Class A common
stock that would be obtained upon exercise or through a decrease in the exercise price of the warrant) as a result of a distribution
of cash or other property, such as other securities, to the holders of shares of our Class A common stock, or as a result of the
issuance of a stock dividend to holders of shares of our Class A common stock, in each case which is taxable to the holders of
such shares as a distribution. Such constructive distribution would be subject to U.S. federal income tax (including any applicable
withholding) in the same manner as if the Non-U.S. holders of the warrants received a cash distribution from us equal to the fair
market value of such increased interest resulting from the adjustment. It is possible that any withholding tax on such a constructive
distribution might be satisfied by us or the applicable withholding agent through a sale of a portion of the Non-U.S. holder&rsquo;s
shares of Class A common stock, warrants or other property held or controlled by us or the applicable withholding agent on behalf
of the Non-U.S. holder or might be withheld from distributions or proceeds subsequently paid or credited to the Non-U.S. holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<!-- Field: Page; Sequence: 134 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->130<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><I>Information Reporting and Backup Withholding.</I>&nbsp;&nbsp;&nbsp;&nbsp;Information
returns will be filed with the IRS in connection with payments of dividends and the proceeds from a sale or other disposition
of our units, shares of Class A common stock and warrants. A Non-U.S. holder may have to comply with certification procedures
to establish that it is not a United States person in order to avoid information reporting and backup withholding requirements.
The certification procedures required to claim a reduced rate of withholding under a treaty generally will satisfy the certification
requirements necessary to avoid the backup withholding as well.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Backup withholding is not an additional
tax. The amount of any backup withholding from a payment to a Non-U.S. holder will be allowed as a credit against such holder&rsquo;s
U.S. federal income tax liability and may entitle such holder to a refund, provided that the required information is timely furnished
to the IRS.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">All Non-U.S. holders should consult their
tax advisors regarding the application of information reporting and backup withholding to them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><I>FATCA Withholding Taxes.&nbsp;&nbsp;&nbsp;&nbsp;</I>Sections
1471 through 1474 of the Code and the Treasury Regulations and administrative guidance promulgated thereunder (commonly referred
as the &ldquo;Foreign Account Tax Compliance Act&rdquo; or &ldquo;FATCA&rdquo;) generally impose withholding at a rate of 30%
in certain circumstances on dividends in respect of our securities which are held by or through certain foreign financial institutions
(including investment funds), unless any such institution (1)&nbsp;enters into, and complies with, an agreement with the IRS to
report, on an annual basis, information with respect to interests in, and accounts maintained by, the institution that are owned
by certain U.S. persons and by certain non-U.S. entities that are wholly or partially owned by U.S. persons and to withhold on
certain payments, or (2)&nbsp;if required under an intergovernmental agreement between the United States and an applicable foreign
country, reports such information to its local tax authority, which will exchange such information with the U.S. authorities.
An intergovernmental agreement between the United States and an applicable foreign country may modify these requirements. Accordingly,
the entity through which our securities are held will affect the determination of whether such withholding is required. Similarly,
dividends in respect of our securities held by an investor that is a non-financial non-U.S. entity that does not qualify under
certain exceptions will generally be subject to withholding at a rate of 30%, unless such entity either (1) certifies to us or
the applicable withholding agent that such entity does not have any &ldquo;substantial United States owners&rdquo; or (2) provides
certain information regarding the entity&rsquo;s &ldquo;substantial United States owners,&rdquo; which will in turn be provided
to the U.S. Department of Treasury. The IRS has issued proposed regulations (on which taxpayers may rely until final regulations
are issued) that would generally not apply these withholding requirements to gross proceeds from the sale or other dispositions
of our securities. All prospective investors should consult their tax advisors regarding the possible implications of FATCA on
their investment in our securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 135 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->131<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="underwriting"></A><B>UNDERWRITING</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Subject to the terms and conditions set
forth in the underwriting agreement between us and B. Riley Securities, Inc. as the representative of the underwriters named below
and the sole book-running manager of this offering, we have agreed to sell to the underwriters, and each of the underwriters has
agreed, severally and not jointly, to purchase from us, the respective number of units shown opposite its name below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&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: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid">Underwriter</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Number
    of <BR> Units</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">B. Riley Securities, Inc.</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 87%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-indent: -10pt; padding-left: 20pt">Total</TD><TD STYLE="width: 1%; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">12,500,000</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The underwriting agreement will provide
that the obligations of the several underwriters are subject to certain conditions precedent such as the receipt by the underwriters
of officers&rsquo; certificates and legal opinions and approval of certain legal matters by their counsel. The underwriting agreement
will provide that the underwriters will purchase all of the units if any of them are purchased. If an underwriter defaults, the
underwriting agreement provides that the purchase commitments of the nondefaulting underwriters may be increased or the underwriting
agreement may be terminated. We have agreed to indemnify the underwriters and certain of their controlling persons against certain
liabilities, including liabilities under the Securities Act, and to contribute to payments that the underwriters may be required
to make in respect of those liabilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The underwriters have advised us that, following
the completion of this offering, they currently intend to make a market in the units as permitted by applicable laws and regulations.
However, the underwriters are not obligated to do so, and the underwriters may discontinue any market-making activities at any
time without notice in their sole discretion. Accordingly, no assurance can be given as to the liquidity of the trading market
for the units, that you will be able to sell any of the units held by you at a particular time or that the prices that you receive
when you sell will be favorable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The underwriters are offering the units
subject to their acceptance of the units from us and subject to prior sale. The underwriters reserve the right to withdraw, cancel
or modify offers to the public and to reject orders in whole or in part. In addition, the underwriters have advised us that they
do not intend to confirm sales to any account over which they exercise discretionary authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 136 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->132<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Commission and Expenses</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The underwriters have advised us that they
propose to offer the units to the public at the initial public offering price set forth on the cover page of this prospectus and
to certain dealers, which may include the underwriters, at that price less a concession not in excess of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
per unit. The underwriters may allow, and certain dealers may reallow, a discount from the concession not in excess of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
per unit to certain brokers and dealers. After the offering, the initial public offering price, concession and reallowance to
dealers may be reduced by the representative. No such reduction will change the amount of proceeds to be received by us as set
forth on the cover page of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The following table summarizes the compensation
and estimated expenses we will pay. Such amounts are shown assuming both no exercise and full exercise of the underwriters&rsquo;
option to purchase additional units.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&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-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Per
    Unit<SUP>(1)</SUP></B></FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total<SUP>(1)</SUP></B></FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Without
                                         <BR> Over-allotment</B></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>With
                                         <BR> Over-allotment</B></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Without
                                         <BR> Over-allotment</B></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD><TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>With
                                         <BR> Over-allotment</B></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 48%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt">Underwriting
    Discounts and Commissions paid by us</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">0.55</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">0.55</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">6,875,000</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">7,906,250</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-indent: -24pt">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-indent: -24pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-indent: -24pt">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Includes
$0.35 per unit, or $4,375,000 in the aggregate payable to the underwriters (or $5,031,250 if the over-allotment option is exercised
in full) will be deposited in the trust account as deferred underwriting commissions. The deferred commissions will be released
to the underwriters only on completion of an initial business combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">If we do not complete our initial business
combination within 24 months from the closing of this offering, the underwriters have agreed that (i) they will forfeit any rights
or claims to their deferred underwriting discounts and commissions, including any accrued interest thereon, then in the trust
account and (ii) that the deferred underwriters&rsquo; discounts and commissions will be distributed on a pro rata basis, together
with any accrued interest thereon (which interest will be net of taxes payable) to the public stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We estimate expenses payable by us in connection
with this offering, other than the underwriting discounts and commissions referred to above, will be approximately $750,000. We
have agreed to pay for FINRA-related fees and expenses of the underwriters&rsquo; legal counsel, not to exceed $15,000, and the
expenses of investigations and background checks of our officers and directors, not to exceed $20,000 and have agreed to provide
B. Riley Securities, Inc. with a right of first refusal to provide certain financial advisory and placement agent services in
connection with certain future transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Determination of Offering Price</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Prior to this offering, there has not been
a public market for our securities. Consequently, the initial public offering price for our units was determined by negotiations
between us and the representative. Among the factors considered in these negotiations were the history and prospects of companies
whose principal business is the acquisition of other companies, prior offerings of those companies, our management, our capital
structure, and currently prevailing general conditions in equity securities markets, including current market valuations of publicly
traded companies considered comparable to our company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 137 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->133<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We offer no assurances that the initial
public offering price will correspond to the price at which the units will trade in the public market subsequent to the offering
or that an active trading market for the units will develop and continue after the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Listing</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We intend to apply to have our units listed
on Nasdaq under the trading symbol &ldquo;SGAMU&rdquo;. We expect that our Class A common stock and warrants will be listed under
the symbols &ldquo;SGAM&rdquo; and &ldquo;SGAMW&rdquo;, respectively, once the Class A common stock and warrants begin separate
trading.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Stamp Taxes</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">If you purchase units offered in this prospectus,
you may be required to pay stamp taxes and other charges under the laws and practices of the country of purchase, in addition
to the offering price listed on the cover page of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Option to Purchase Additional Units</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We have granted to the underwriters an option,
exercisable for 45 days from the date of this prospectus, to purchase, from time to time, in whole or in part, up to an aggregate
of 1,875,000 units from us at the public offering price set forth on the cover page of this prospectus, less underwriting discounts
and commissions. If the underwriters exercise this option, each underwriter will be obligated, subject to specified conditions,
to purchase a number of additional units proportionate to that underwriter&rsquo;s initial purchase commitment as indicated in
the table above. This option may be exercised only if the underwriters sell more units than the total number set forth on the
cover page of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Letter Agreements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We, our sponsor and our officers and directors
have agreed that, for a period of 180 days from the date of this prospectus, we and they will not, without the prior written consent
of B. Riley Securities, Inc. offer, sell, contract to sell, grant any option to sell (including any short sale), transfer, establish
an open &ldquo;put equivalent option&rdquo; within the meaning of Rule 16a-l(h) under the Exchange Act, as amended, pledge or
otherwise dispose of, directly or indirectly, any units, warrants, shares of common stock or any other securities convertible
into, or exercisable, or exchangeable for, shares of common stock currently or hereafter owned either of record or beneficially,
or publicly announce an intention to do any of the foregoing; provided, however, that we may (1) issue and sell the private placement
warrants, (2) issue and sell the additional units to cover our underwriters&rsquo; over-allotment option (if any), (3) register
with the SEC pursuant to an agreement to be entered into concurrently with the issuance and sale of the securities in this offering,
the resale of the private placement warrants and shares of Class A common stock issuable upon exercise of the warrants and the
founder shares and (4) issue securities in connection with an initial business combination. B. Riley Securities, Inc. in its sole
discretion may release any of the securities subject to these lock-up agreements at any time without notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our initial stockholders have agreed not
to transfer, assign or sell any of their founder shares until the earlier to occur of (A) one year after the completion of our
initial business combination or (B) subsequent to our initial business combination, (x) if the last reported sale price of our
Class A common stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations
and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after our initial business
combination, or (y) the date on which we complete a liquidation, merger, capital stock exchange, reorganization or other similar
transaction that results in all of our stockholders having the right to exchange their shares of common stock for cash, securities
or other property (except as described herein under the section of this prospectus entitled &ldquo;Principal Stockholders&nbsp;&mdash;&nbsp;Restrictions
on Transfers of Founder Shares and Private Placement Warrants&rdquo;). Any permitted transferees will be subject to the same restrictions
and other agreements of our initial stockholders with respect to any founder shares. We refer to such transfer restrictions throughout
this prospectus as the lock-up.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The private placement warrants (including
the Class A common stock issuable upon exercise of the private placement warrants) will not be transferable, assignable or salable
until 30 days after the completion of our initial business combination (except with respect to permitted transferees as described
herein under the section of this prospectus entitled &ldquo;Principal Stockholders &mdash; Restrictions on Transfers of Founder
Shares and Private Placement Warrants&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 138 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->134<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Stabilization</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The underwriters have advised us that they,
pursuant to Regulation M under the Securities Exchange Act of 1934, as amended, and certain persons participating in the offering
may engage in short sale transactions, stabilizing transactions, syndicate covering transactions or the imposition of penalty
bids in connection with this offering. These activities may have the effect of stabilizing or maintaining the market price of
the units at a level above that which might otherwise prevail in the open market. Establishing short sales positions may involve
either &ldquo;covered&rdquo; short sales or &ldquo;naked&rdquo; short sales.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&ldquo;Covered&rdquo; short sales are sales
made in an amount not greater than the underwriters&rsquo; option to purchase additional units in this offering. The underwriters
may close out any covered short position by either exercising their option to purchase additional units or purchasing units in
the open market. In determining the source of units to close out the covered short position, the underwriters will consider, among
other things, the price of units available for purchase in the open market as compared to the price at which they may purchase
units through the option to purchase additional units.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&ldquo;Naked&rdquo; short sales are sales
in excess of the option to purchase additional units. The underwriters must close out any naked short position by purchasing units
in the open market. A naked short position is more likely to be created if the underwriters are concerned that there may be downward
pressure on the price of our units in the open market after pricing that could adversely affect investors who purchase in this
offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">A stabilizing bid is a bid for the purchase
of units on behalf of the underwriters for the purpose of fixing or maintaining the price of the units. A syndicate covering transaction
is the bid for or the purchase of units on behalf of the underwriters to reduce a short position incurred by the underwriters
in connection with the offering. Similar to other purchase transactions, the underwriter&rsquo;s purchases to cover the syndicate
short sales may have the effect of raising or maintaining the market price of our units or preventing or retarding a decline in
the market price of our units. As a result, the price of our units may be higher than the price that might otherwise exist in
the open market. A penalty bid is an arrangement permitting the underwriters to reclaim the selling concession otherwise accruing
to a syndicate member in connection with the offering if the units originally sold by such syndicate member are purchased in a
syndicate covering transaction and therefore have not been effectively placed by such syndicate member.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Neither we nor any of the underwriters make
any representation or prediction as to the direction or magnitude of any effect that the transactions described above may have
on the price of our units. The underwriters are not obligated to engage in these activities and, if commenced, any of the activities
may be discontinued at any time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The underwriters may also engage in passive
market making transactions in our units on Nasdaq in accordance with Rule 103 of Regulation M during a period before the commencement
of offers or sales of our units in this offering and extending through the completion of distribution. A passive market maker
must display its bid at a price not in excess of the highest independent bid of that security. However, if all independent bids
are lowered below the passive market maker&rsquo;s bid, that bid must then be lowered when specified purchase limits are exceeded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Electronic Distribution</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">A prospectus in electronic format may be
made available by e-mail or on the web sites or through online services maintained by one or more of the underwriters or their
affiliates. In those cases, prospective investors may view offering terms online and may be allowed to place orders online. The
underwriters may agree with us to allocate a specific number of units for sale to online brokerage account holders. Any such allocation
for online distributions will be made by the underwriters on the same basis as other allocations. Other than the prospectus in
electronic format, the information on the underwriters&rsquo; web sites and any information contained in any other web site maintained
by any of the underwriters is not part of this prospectus, has not been approved and/or endorsed by us or the underwriters and
should not be relied upon by investors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Other Activities and Relationships</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We are not under any contractual obligation
to engage any of the underwriters to provide any services for us after this offering, and have no present intent to do so. However,
any of the underwriters may introduce us to potential target businesses or assist us in raising additional capital in the future.
If any of the underwriters provide services to us after this offering, we may pay such underwriter fair and reasonable fees that
would be determined at that time in an arm&rsquo;s length negotiation; provided that no agreement will be entered into with any
of the underwriters and no fees for such services will be paid to any of the underwriters prior to the date that is 60 days from
the date of this prospectus, unless FINRA determines that such payment would not be deemed underwriters&rsquo; compensation in
connection with this offering and we may pay the underwriters of this offering or any entity with which they are affiliated a
finder&rsquo;s fee or other compensation for services rendered to us in connection with the completion of a business combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The underwriters and certain of their affiliates
are full service financial institutions engaged in various activities, which may include securities trading, commercial and investment
banking, financial advisory, investment management, investment research, principal investment, hedging, financing and brokerage
activities. The underwriters and certain of their affiliates have, from time to time, performed, and may in the future perform,
various commercial and investment banking and financial advisory services for us and our affiliates, for which they received or
will receive customary fees and expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In the ordinary course of their various
business activities, the underwriters and certain of their affiliates may make or hold a broad array of investments and actively
trade debt and equity securities (or related derivative securities) and financial instruments (including bank loans) for their
own account and for the accounts of their customers, and such investment and securities activities may involve securities and/or
instruments issued by us and our affiliates. The underwriters and certain of their respective affiliates may also communicate
independent investment recommendations, market color or trading ideas and/or publish or express independent research views in
respect of such securities or instruments and may at any time hold, or recommend to clients that they acquire, long and/or short
positions in such securities and instruments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Selling Restrictions</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Canada</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Resale Restrictions</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The distribution of the securities in Canada
is being made only in the provinces of Ontario, Quebec, Alberta and British Columbia on a private placement basis exempt from
the requirement that we prepare and file a prospectus with the securities regulatory authorities in each province where trades
of these securities are made. Any resale of the securities in Canada must be made under applicable securities laws which may vary
depending on the relevant jurisdiction, and which may require resales to be made under available statutory exemptions or under
a discretionary exemption granted by the applicable Canadian securities regulatory authority. Purchasers are advised to seek legal
advice prior to any resale of the securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 139 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->135<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<!-- Field: Split-Segment; Name: 4 -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Representations of Canadian Purchasers</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">By purchasing the securities in Canada and
accepting delivery of a purchase confirmation, a purchaser is representing to us and the dealer from whom the purchase confirmation
is received that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
purchaser is entitled under applicable provincial securities laws to purchase the securities without the benefit of a prospectus
qualified under those securities laws as it is an &ldquo;accredited investor&rdquo; as defined under National Instrument 45-106
 &mdash; <I>Prospectus Exemptions</I>,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
purchaser is a &ldquo;permitted client&rdquo; as defined in National Instrument 31-103 &mdash; <I>Registration Requirements, Exemptions
and Ongoing Registrant Obligations</I>,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;where
required by law, the purchaser is purchasing as principal and not as agent, and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
purchaser has reviewed the text above under Resale Restrictions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Conflicts of Interest</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Canadian purchasers are hereby notified
that B. Riley Securities, Inc. is relying on the exemption set out in section 3A.3 or 3A.4, if applicable, of National Instrument
33-105 &mdash; <I>Underwriting Conflicts </I>from having to provide certain conflict of interest disclosure in this document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Statutory Rights of Action</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Securities legislation in certain provinces
or territories of Canada may provide a purchaser with remedies for rescission or damages if the prospectus (including any amendment
thereto) such as this document contains a misrepresentation, provided that the remedies for rescission or damages are exercised
by the purchaser within the time limit prescribed by the securities legislation of the purchaser&rsquo;s province or territory.
The purchaser of these securities in Canada should refer to any applicable provisions of the securities legislation of the purchaser&rsquo;s
province or territory for particulars of these rights or consult with a legal advisor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Enforcement of Legal Rights</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">All of our directors and officers as well
as the experts named herein may be located outside of Canada and, as a result, it may not be possible for Canadian purchasers
to effect service of process within Canada upon us or those persons. All or a substantial portion of our assets and the assets
of those persons may be located outside of Canada and, as a result, it may not be possible to satisfy a judgment against us or
those persons in Canada or to enforce a judgment obtained in Canadian courts against us or those persons outside of Canada.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Taxation and Eligibility for Investment</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Canadian purchasers of the securities should
consult their own legal and tax advisors with respect to the tax consequences of an investment in the securities in their particular
circumstances and about the eligibility of the securities for investment by the purchaser under relevant Canadian legislation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Australia</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">This prospectus is not a disclosure document
for the purposes of Australia&rsquo;s Corporations Act 2001 (C<SUP>th</SUP>) of Australia, or Corporations Act, has not been lodged
with the Australian Securities &amp; Investments Commission and is only directed to the categories of exempt persons set out below.
Accordingly, if you receive this prospectus in Australia:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">You confirm and warrant that you are either:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
 &ldquo;sophisticated investor&rdquo; under section 708(8)(a) or (b) of the Corporations Act;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
 &ldquo;sophisticated investor&rdquo; under section 708(8)(c) or (d) of the Corporations Act and that you have provided an accountant&rsquo;s
certificate to the Company which complies with the requirements of section 708(8)(c)(i) or (ii) of the Corporations Act and related
regulations before the offer has been made;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"></P>

<!-- Field: Page; Sequence: 140 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->136<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
person associated with the Company under Section 708(12) of the Corporations Act; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
 &ldquo;professional investor&rdquo; within the meaning of section 708(11)(a) or (b) of the Corporations Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">To the extent that you are unable to confirm
or warrant that you are an exempt sophisticated investor, associated person or professional investor under the Corporations Act
any offer made to you under this prospectus is void and incapable of acceptance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">You warrant and agree that you will not
offer any of the securities issued to you pursuant to this prospectus for resale in Australia within 12 months of those securities
being issued unless any such resale offer is exempt from the requirement to issue a disclosure document under section 708 of the
Corporations Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>European Economic Area</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The units are not intended to be offered
or sold to and should not be offered or sold to any retail investor in the European Economic Area (the &ldquo;EEA&rdquo;). For
these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article
4(1) of Directive 2014/65/EU, as amended (&ldquo;MiFID II&rdquo;); or (ii) a customer within the meaning of Directive 2002/92/EC,
as amended (the &ldquo;Insurance Mediation Directive&rdquo;), where that customer would not qualify as a professional client as
defined in point (10) of Article 4(1) of MiFID II; or (iii) not a qualified investor as defined in the Directive 2003/71/EC (as
amended, the &ldquo;Prospectus Directive&rdquo;). No key information document required by Regulation (EU) No 1286/2014, as amended
(the &ldquo;PRIIPs Regulation&rdquo;) for offering or selling the units or otherwise making them available to retail investors
in the EEA has been prepared. Offering or selling the units or otherwise making them available to any retail investor in the EEA
may be unlawful under the PRIIPS Regulation. This prospectus has been prepared on the basis that any offer of the units in any
Member State of the EEA will be made pursuant to an exemption under the Prospectus Directive from a requirement to publish a prospectus
for offers of units. This prospectus is not a prospectus for the purpose of the Prospectus Directive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Hong Kong</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">No securities have been offered or sold,
and no securities may be offered or sold, in Hong Kong, by means of any document, other than to persons whose ordinary business
is to buy or sell shares or debentures, whether as principal or agent; or to &ldquo;professional investors&rdquo; as defined in
the Securities and Futures Ordinance (Cap. 571) of Hong Kong (&ldquo;<B>SFO</B>&rdquo;) and any rules made under that Ordinance;
or in other circumstances which do not result in the document being a &ldquo;prospectus&rdquo; as defined in the Companies Ordinance
(Cap. 32) of Hong Kong (&ldquo;<B>CO</B>&rdquo;) or which do not constitute an offer or invitation to the public for the purpose
of the CO or the SFO. No document, invitation or advertisement relating to the securities has been issued or 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 of Hong Kong (except if permitted under the securities
laws of Hong Kong) other than with respect to securities which are or are intended to be disposed of only to persons outside Hong
Kong or only to &ldquo;professional investors&rdquo; as defined in the SFO and any rules made under that Ordinance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">This prospectus has not been registered
with the Registrar of Companies in Hong Kong. Accordingly, this prospectus may not be issued, circulated or distributed in Hong
Kong, and the securities may not be offered for subscription to members of the public in Hong Kong. Each person acquiring the
securities will be required, and is deemed by the acquisition of the securities, to confirm that he is aware of the restriction
on offers of the securities described in this prospectus and the relevant offering documents and that he is not acquiring, and
has not been offered any securities in circumstances that contravene any such restrictions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Israel</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">This document does not constitute a prospectus
under the Israeli Securities Law, 5728-1968, or the Securities Law, and has not been filed with or approved by the Israel Securities
Authority. In Israel, this prospectus is being distributed only to, and is directed only at, and any offer of the units is directed
only at, (i) a limited number of persons in accordance with the Israeli Securities Law and (ii) investors listed in the first
addendum, or the Addendum, to the Israeli Securities Law, consisting primarily of joint investment in trust funds, provident funds,
insurance companies, banks, portfolio managers, investment advisors, members of the Tel Aviv Stock Exchange, underwriters, venture
capital funds, entities with equity in excess of NIS 50 million and &ldquo;qualified individuals,&rdquo; each as defined in the
Addendum (as it may be amended from time to time), collectively referred to as qualified investors (in each case, purchasing for
their own account or, where permitted under the Addendum, for the accounts of their clients who are investors listed in the Addendum).
Qualified investors are required to submit written confirmation that they fall within the scope of the Addendum, are aware of
the meaning of same and agree to it.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 141 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->137<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Japan</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The offering has not been and will not be
registered under the Financial Instruments and Exchange Law of Japan (Law No. 25 of 1948 of Japan, as amended), or FIEL, and the
Initial Purchaser will not offer or sell any securities, directly or indirectly, in Japan or to, or for the benefit of, any resident
of Japan (which term as used herein means any person resident in Japan, including any corporation or other entity organized under
the laws of Japan), or to others for re-offering or resale, directly or indirectly, in Japan or to, or for the benefit of, any
resident of Japan, except pursuant to an exemption from the registration requirements of, and otherwise in compliance with, the
FIEL and any other applicable laws, regulations and ministerial guidelines of Japan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Singapore</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">This prospectus has not been and will not
be lodged or registered as a prospectus with the Monetary Authority of Singapore. Accordingly, this prospectus and any other document
or material in connection with the offer or sale, or invitation for subscription or purchase, of the securities may not be circulated
or distributed, nor may the securities be offered or sold, or be made the subject of an invitation for subscription or purchase,
whether directly or indirectly, to persons in Singapore other than (i) to an institutional investor under Section 274 of the Securities
and Futures Act, Chapter 289 of Singapore (the &ldquo;<B>SFA</B>&rdquo;), (ii) to a relevant person pursuant to Section 275(1),
or any person pursuant to Section 275(1A), and in accordance with the conditions specified in Section 275, of the SFA, or (iii)
otherwise pursuant to, and in accordance with the conditions of, any other applicable provision of the SFA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Where the securities are subscribed or purchased
under Section 275 of the SFA by a relevant person which is:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
corporation (which is not an accredited investor (as defined in Section 4A of the SFA)) the sole business of which is to hold
investments and the entire share capital of which is owned by one or more individuals, each of whom is an accredited investor;
or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
trust (where the trustee is not an accredited investor) whose sole purpose is to hold investments and each beneficiary of the
trust is an individual who is an accredited investor,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">securities (as defined in Section 239(1) of the SFA) of that
corporation or the beneficiaries&rsquo; rights and interest (howsoever described) in that trust shall not be transferred within
six months after that corporation or that trust has acquired the securities pursuant to an offer made under Section 275 of the
SFA except:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
an institutional investor or to a relevant person defined in Section 275(2) of the SFA, or to any person arising from an offer
referred to in Section 275(1A) or Section 276(4)(i)(B) of the SFA;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;where
no consideration is or will be given for the transfer;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;where
the transfer is by operation of law;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;as
specified in Section 276(7) of the SFA; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;as
specified in Regulation 32 of the Securities and Futures (Offers of Investments) (Shares and Debentures) Regulations 2005 of Singapore.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Switzerland</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The securities may not be publicly offered
in Switzerland and will not be listed on the SIX Swiss Exchange (&ldquo;<B>SIX</B>&rdquo;) or on any other stock exchange or regulated
trading facility in Switzerland. This prospectus has been prepared without regard to the disclosure standards for issuance prospectuses
under art. 652a or art. 1156 of the Swiss Code of Obligations or the disclosure standards for listing prospectuses under art.
27 ff. of the SIX Listing Rules or the listing rules of any other stock exchange or regulated trading facility in Switzerland.
Neither this prospectus nor any other offering or marketing material relating to the securities or the offering may be publicly
distributed or otherwise made publicly available in Switzerland.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 142 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->138<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Neither this prospectus nor any other offering
or marketing material relating to the offering, the Company or the securities have been or will be filed with or approved by any
Swiss regulatory authority. In particular, this prospectus will not be filed with, and the offer of securities will not be supervised
by, the Swiss Financial Market Supervisory Authority FINMA, and the offer of securities has not been and will not be authorized
under the Swiss Federal Act on Collective Investment Schemes (&ldquo;<B>CISA</B>&rdquo;). The investor protection afforded to
acquirers of interests in collective investment schemes under the CISA does not extend to acquirers of securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>United Kingdom</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">This prospectus is only being distributed
to, and is only directed at, persons in the United Kingdom that are qualified investors within the meaning of Article 2(1)(e)
of the Prospectus Directive that are also (i) investment professionals falling within Article 19(5) of the Financial Services
and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the &ldquo;<B>Order</B>&rdquo;) and/or (ii) high net worth
entities falling within Article 49(2)(a) to (d) of the Order and other persons to whom it may lawfully be communicated (each such
person being referred to as a &ldquo;<B>relevant person</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">This prospectus and its contents are confidential
and should not be distributed, published or reproduced (in whole or in part) or disclosed by recipients to any other persons in
the United Kingdom. Any person in the United Kingdom that is not a relevant person should not act or rely on this document or
any of its contents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 143 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->139<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="legal"></A><B>LEGAL MATTERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Ellenoff Grossman &amp; Schole LLP, New
York, New York, has passed upon the validity of the securities offered hereby on behalf of us. Certain legal matters will be passed
upon on behalf of the underwriters by White&nbsp;&amp; Case LLP, New&nbsp;York, New&nbsp;York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="experts"></A>EXPERTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The financial statements of Seaport Global
Acquisition Corp. as of August 17, 2020 and for the period from July 24, 2020 (inception) through August 17, 2020, have been audited
by Marcum 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 Seaport Global Acquisition Corp. to continue as a going concern as
described in Note&nbsp;1 to the financial statements), appearing elsewhere in this prospectus, and are included in reliance on
the report of such firm given upon their authority as experts in accounting and auditing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="where"></A>WHERE YOU CAN FIND
ADDITIONAL INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We have filed with the SEC a registration
statement on Form S-1 under the Securities Act with respect to the securities we are offering by this prospectus. This prospectus
does not contain all of the information included in the registration statement. For further information about us and our securities,
you should refer to the registration statement and the exhibits and schedules filed with the registration statement. Whenever
we make reference in this prospectus to any of our contracts, agreements or other documents, the references are materially complete
but may not include a description of all aspects of such contracts, agreements or other documents, and you should refer to the
exhibits attached to the registration statement for copies of the actual contract, agreement or other document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">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 Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">You may also obtain copies of the documents
at prescribed rates by writing to the Public Reference Section of the SEC at 100 F Street, N.E., Washington, D.C. 20549. Please
call the SEC at 1-800-SEC-0330 for further information on the operation of the public reference facilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 144 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->140<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SEAPORT GLOBAL ACQUISITION CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="index"></A><B>INDEX TO FINANCIAL
STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</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: 93%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; width: 7%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>PAGE</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD><A HREF="#fi-1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Report of Independent Registered
    Public Accounting Firm</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#fi-1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-2</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><A HREF="#fi-4"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Balance Sheet</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#fi-4"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-3</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD><A HREF="#fi-5"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Statement of Operations</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#fi-5"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-4</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><A HREF="#fi-6"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Statement of Changes in Stockholder&rsquo;s
    Equity</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#fi-6"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-5</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD><A HREF="#fi-7"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Statement of Cash Flows</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#fi-7"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-6</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><A HREF="#fi-8"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to Financial Statements</FONT></A></TD>
    <TD STYLE="text-align: center"><A HREF="#fi-8"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-7</FONT></A></TD></TR>
</TABLE>

<P STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0">&nbsp;</P>



<P STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0"></P>

<!-- Field: Page; Sequence: 145; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="fi-1"></A><B>REPORT OF INDEPENDENT
REGISTERED PUBLIC ACCOUNTING FIRM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0">To the Shareholder and Board of Directors of<BR>
Seaport Global Acquisition Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0"><B>Opinion on the Financial Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">We have audited the accompanying balance
sheet of Seaport Global Acquisition Corp. (the &ldquo;Company&rdquo;) as of August 17, 2020, and the related statements of operations,
changes in stockholder&rsquo;s equity and cash flows for the period from July 24, 2020 (inception) through August 17, 2020 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 August 17, 2020, and the results of its
operations and its cash flows for the period from July 24, 2020 (inception) through August 17, 2020 in conformity with accounting
principles generally accepted in the United States of America.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0"><B>Explanatory Paragraph &mdash; Going Concern</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The accompanying financial statements
have been prepared assuming that the Company will continue as a going concern. As more fully described in Note 1 to the financial
statements, the Company&rsquo;s ability to execute its business plan is dependent upon its completion of the proposed initial
public offering described in Note 3 to the financial statements. The Company has a working capital deficiency as of August 17,
2020 and lacks the financial resources it needs to sustain operations for a reasonable period of time, which is considered to
be one year from the issuance date of the financial statements. These conditions raise substantial doubt about the Company&rsquo;s
ability to continue as a going concern. Management&rsquo;s plans in regard to these matters are also described in Notes 1 and
3 to the financial statements. The financial statements do not include any adjustments that might become necessary should the
Company be unable to continue as a going concern.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0"><B>Basis for Opinion</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">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) (the
 &ldquo;PCAOB&rdquo;) 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: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">We conducted our audit in accordance with
the standards of the PCAOB. Those
standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are
free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform,
an audit of its internal control over financial reporting. As part of our audit, we are required to obtain an understanding of
internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the 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: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">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: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0">/s/ Marcum LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0">Marcum LLP<BR>
We have served as the Company&rsquo;s auditor since 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0">New York, NY</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0">September 10, 2020<BR>
<BR></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 146; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SEAPORT GLOBAL ACQUISITION CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="fi-4"></A>BALANCE SHEETS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&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-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">August
    17,<BR> 2020</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center">(Audited)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif">ASSETS</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 87%; text-align: left">Current asset &ndash; cash</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">25,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Deferred offering costs</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">57,500</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Total Assets</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">82,500</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">LIABILITIES AND STOCKHOLDER&rsquo;S EQUITY</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Current liabilities</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Promissory note &ndash; related
    party</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">60,266</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Total Liabilities</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">60,266</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif">Commitments</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Stockholder&rsquo;s Equity</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Preferred stock, $0.0001 par value; 1,000,000 shares
    authorized, none issued and outstanding</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Class A common stock, $0.0001 par value; 100,000,000
    shares authorized; none issued and outstanding</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class
    B common stock, $0.0001 par value; 10,000,000 shares authorized; 3,593,750 shares issued and outstanding<SUP>(1)</SUP></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">359</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Additional paid-in capital</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">24,641</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Accumulated deficit</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(2,766</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Total Stockholder&rsquo;s
    Equity</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">22,234</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Total Liabilities and Stockholder&rsquo;s
    Equity</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">82,500</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin-top: 0; margin-bottom: 0"></P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">(1)</TD><TD STYLE="text-align: justify">Includes
                                         up to 468,750 Class B shares subject to forfeiture if the over-allotment option is not
                                         exercised in full or in part by the underwriter (see Note 7).</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 24pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">The accompanying
notes are an integral part of the financial statements.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 147; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SEAPORT GLOBAL ACQUISITION CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="fi-5"></A>STATEMENT OF OPERATIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE PERIOD FROM JULY 24, 2020 (INCEPTION)
THROUGH AUGUST 17, 2020&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">August
    17<BR> 2020</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center">(Audited)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 86%; text-align: left; padding-bottom: 1pt">Formation and operating
    costs</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">2,766</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Net loss</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(2,766</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Weighted
    average shares outstanding, basic and diluted<SUP>(1)</SUP></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">3,125,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Basic and diluted net loss
    per common share</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(0.00</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">)</TD></TR>
</TABLE>



<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin-top: 0; margin-bottom: 0"></P>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">(1)</TD><TD STYLE="text-align: justify">Excludes
                                         up to 468,750 Class B shares subject to forfeiture if the over-allotment option is not
                                         exercised in full or in part by the underwriter (see Note 7).</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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: 0pt 125.8pt 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 148; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SEAPORT GLOBAL ACQUISITION CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="fi-6"></A>STATEMENT OF CHANGES
IN STOCKHOLDER&rsquo;S EQUITY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE PERIOD FROM JULY 24, 2020 (INCEPTION)
THROUGH AUGUST 17, 2020&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Class
    B<BR> Common Stock<SUP>(1)</SUP></B></FONT></TD><TD STYLE="text-align: center; padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Additional<BR>
    Paid-in<BR> Capital</TD><TD STYLE="text-align: center; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Accumulated<BR>
    Deficit</TD><TD STYLE="text-align: center; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Stockholder&rsquo;s<BR>
    Equity</TD><TD STYLE="text-align: center; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font-size: 10pt">&nbsp;</TD><TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Shares</TD><TD STYLE="text-align: center; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="text-align: center; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="text-align: center; padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="text-align: center; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="text-align: center; padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="text-align: center; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="text-align: center; padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="text-align: center; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="text-align: center; padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif">Balance, July 24, 2020 (Inception)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 45%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Issuance
    of common stock to Sponsor<SUP>(1)</SUP></FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font: 10pt Times New Roman, Times, Serif; text-align: right">3,593,750</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font: 10pt Times New Roman, Times, Serif; text-align: right">359</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font: 10pt Times New Roman, Times, Serif; text-align: right">24,640</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font: 10pt Times New Roman, Times, Serif; text-align: right">24,999</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Net loss</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(2,766</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(2,766</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">Balance, August 17, 2020</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">3,593,750</TD><TD STYLE="padding-bottom: 2.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">359</TD><TD STYLE="padding-bottom: 2.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">24,640</TD><TD STYLE="padding-bottom: 2.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(2,766</TD><TD STYLE="padding-bottom: 2.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">22,233</TD><TD STYLE="padding-bottom: 2.5pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
</TABLE>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 24pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 24pt; text-indent: -24pt"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 24pt; text-indent: -24pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(1)</TD><TD STYLE="text-align: justify">Includes
                                         up to 468,750 Class B shares subject to forfeiture if the over-allotment option is not
                                         exercised in full or in part by the underwriter (see Note 7).</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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: 0pt 125.8pt 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 149; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SEAPORT GLOBAL ACQUISITION CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="fi-7"></A>STATEMENT OF CASH
FLOWS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE PERIOD FROM JULY 24, 2020 (INCEPTION)
THROUGH AUGUST 17, 2020&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">August
    17, 2020</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Cash flows from Operating Activities:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 82%; text-align: left; padding-bottom: 1pt">Net loss</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; width: 15%; font: 10pt Times New Roman, Times, Serif; text-align: right">(2,766</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Net cash used in operating
    activities</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(2,766</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Cash Flows from Financing Activities:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Proceeds from issuance of Class B common stock to Sponsor</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">25,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Proceeds from promissory note &ndash; related party</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">60,266</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Payment of offering costs</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(57,500</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Net cash provided by financing
    activities</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">25,000</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Net Change in Cash</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">25,000</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Cash &ndash; Beginning</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">Cash &ndash; Ending</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">25,000</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Supplemental disclosure of non-cash investing
    and financing activities:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Offering costs included in accrued
    offering costs</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">57,500</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; 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-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 150; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SEAPORT GLOBAL
ACQUSITION CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><A NAME="fi-8"></A>NOTES
TO FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0"><B>NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS
OPERATIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">Seaport Global Acquisition
Corp. (the &ldquo;Company&rdquo;) is a blank check company incorporated in Delaware on July 24 2020. The Company was formed for
the purpose of effectuating a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar
business combination with one or more businesses (the &ldquo;Business Combination&rdquo;).The Company is an early stage and emerging
growth company and, as such, the Company is subject to all of the risks associated with early stage and emerging growth companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">As of August 17, 2020, the Company had
not yet commenced any operations. All activity for the period July 24, 2020 (inception) through August 17, 2020 relates to the
Company&rsquo;s formation and the proposed initial public offering (the &ldquo;Proposed Offering&rdquo;). The Company has selected
December 31 as its fiscal year end.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">The Company&rsquo;s
ability to commence operations is contingent upon obtaining adequate financial resources through a proposed initial public offering
of 12,500,000 units at $10.00 per unit (or 14,375,000 units if the underwriter&rsquo;s over-allotment option is exercised in full)
(the &ldquo;Units&rdquo; and, with respect to the shares of Class A common stock included in the Units being offered, the &ldquo;Public
Shares&rdquo;) which is discussed in Note 3 and the sale of 4,250,000 warrants (or 4,625,000 warrants if the underwriter&rsquo;s
over-allotment option is exercised in full) (the &ldquo;Private Placement Warrants&rdquo;) at a price of $1.00 per Private Placement
Warrant that will close in a private placement to Seaport Global SPAC, LLC (the &ldquo;Sponsor&rdquo;) simultaneously with the
closing of the Proposed Offering (see Note 4).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">The Company&rsquo;s
management has broad discretion with respect to the specific application of the net proceeds of the Proposed Offering and the
sale of the Private Placement Warrants, although substantially all of the net proceeds are intended to be applied generally toward
consummating a Business Combination. NASDAQ rules provide that the 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 (as defined below) (less any
deferred underwriting commissions and taxes payable on interest earned on the Trust Account) at the time of the signing a definitive
agreement to enter a Business Combination. The Company will only complete a Business Combination if the post-Business Combination
company owns or acquires 50% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest
in the target sufficient for it not to be required to register as an investment company under the Investment Company Act of 1940,
as amended (the &ldquo;Investment Company Act&rdquo;). There is no assurance that the Company will be able to successfully effect
a Business Combination. Upon the closing of the Proposed Offering, management has agreed that $10.00 per Unit sold in the Proposed
Offering, including the proceeds from the sale of the Private Placement Warrants, will be held in a trust account (the &ldquo;Trust
Account&rdquo;) and invested in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment
Company Act, with a maturity of 185 days or less, or in any open-ended investment company that holds itself out as a money market
fund meeting the conditions of Rule 2a-7 of the Investment Company Act, as determined by the Company, until the earlier of: (i)
the consummation of a Business Combination or (ii) the distribution of the funds in the Trust Account to the Company&rsquo;s stockholders,
as described below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">The Company will
provide its holders of the outstanding Public Shares (the &ldquo;public stockholders&rdquo;) with the opportunity to redeem all
or a portion of their Public Shares upon the completion of a Business Combination either (i) in connection with a stockholder
meeting called to approve the Business Combination or (ii) by means of a tender offer. In connection with a proposed Business
Combination, the Company may seek stockholder approval of a Business Combination at a meeting called for such purpose at which
stockholders may seek to redeem their shares, regardless of whether they vote for or against a Business Combination. The Company
will proceed with a Business Combination only if the Company has net tangible assets of at least $5,000,001 either immediately
prior to or upon such consummation of a Business Combination and, if the Company seeks stockholder approval, a majority of the
outstanding shares voted are voted in favor of the Business Combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">If the Company seeks
stockholder approval of a Business Combination and it does not conduct redemptions pursuant to the tender offer rules, the Company&rsquo;s
Amended and Restated Certificate of Incorporation provides that, a public stockholder, together with any affiliate of such stockholder
or any other person with whom such stockholder is acting in concert or as a &ldquo;group&rdquo; (as defined under Section 13 of
the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;)), will be restricted from seeking redemption
rights with respect to 20% or more of the Public Shares without the Company&rsquo;s prior written consent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in"></P>

<!-- Field: Page; Sequence: 151; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SEAPORT GLOBAL
ACQUISITION CORP.<BR>
NOTES TO FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0"><B>NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS
OPERATIONS </B>(cont.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto; text-indent: 0.25in">The public stockholders will be entitled
to redeem their shares for a 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 the Company to pay its tax obligations).
The per-share amount to be distributed to stockholders who redeem their shares will not be reduced by the deferred underwriting
commissions the Company will pay to the underwriter (as discussed in Note 7). There will be no redemption rights upon the completion
of a Business Combination with respect to the Company&rsquo;s warrants. These shares of Class A common stock will be recorded
at a redemption value and classified as temporary equity upon the completion of the Proposed Offering, in accordance with Accounting
Standards Codification (&ldquo;ASC&rdquo;) Topic 480 &ldquo;Distinguishing Liabilities from Equity.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto; text-indent: 0.25in">If a stockholder vote is not required
and the Company does not decide to hold a stockholder vote for business or other legal reasons, the Company will, pursuant to
its Amended and Restated Certificate of Incorporation, offer such redemption pursuant to the tender offer rules of the Securities
and Exchange Commission (the &ldquo;SEC&rdquo;), and file tender offer documents containing substantially the same information
as would be included in a proxy statement with the SEC prior to completing a Business Combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto; text-indent: 0.25in">The Company&rsquo;s Sponsor has agreed
(a) to vote its Founder Shares (as defined in Note 5), the common stock included in the Private Units (the &ldquo;Private Shares&rdquo;)
and any Public Shares purchased during or after the Proposed Offering in favor of a Business Combination, (b) not to propose an
amendment to the Company&rsquo;s Amended and Restated Certificate of Incorporation with respect to the Company&rsquo;s pre-Business
Combination activities prior to the consummation of a Business Combination unless the Company provides dissenting public stockholders
with the opportunity to redeem their Public Shares in conjunction with any such amendment; (c) not to redeem any shares (including
the Founder Shares) and Private Placement Warrants (including underlying securities) into the right to receive cash from the Trust
Account in connection with a stockholder vote to approve a Business Combination (or to sell any shares in a tender offer in connection
with a Business Combination if the Company does not seek stockholder approval in connection therewith) or a vote to amend the
provisions of the Amended and Restated Certificate of Incorporation relating to stockholders&rsquo; rights of pre-Business Combination
activity and (d) that the Founder Shares and Private Placement Warrants (including underlying securities) shall not participate
in any liquidating distributions upon winding up if a Business Combination is not consummated. However, the Sponsor will be entitled
to liquidating distributions from the Trust Account with respect to any Public Shares purchased during or after the Proposed Offering
if the Company fails to complete its Business Combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto; text-indent: 0.25in">If the Company is unable to complete
a Business Combination within 24 months from the closing of the Proposed Offering (the &ldquo;Combination Period&rdquo;), the
Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but no more
than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount
then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account and not previously released
to us to pay taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding public
shares, which redemption will completely extinguish public stockholders&rsquo; rights as stockholders (including the right to
receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following
such redemption, subject to the approval of the remaining stockholders and the Company&rsquo;s board of directors, proceed to
commence a voluntary liquidation and thereby a formal dissolution of the Company, subject in each case to its obligations to provide
for claims of creditors and the requirements of applicable law. The underwriter has agreed to waive its rights to the deferred
underwriting commission held in the Trust Account in the event the Company does not complete a Business Combination within the
Combination Period 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 the Public Shares. In the event of such distribution, it is possible that the per share value of the
assets remaining available for distribution will be less than the Proposed Offering price per Unit ($10.00).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 152; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SEAPORT GLOBAL
ACQUISITION CORP.<BR>
NOTES TO FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0"><B>NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS
OPERATIONS </B>(cont.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0">&nbsp;</P>

<P STYLE="text-indent: 0.25in; font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0">The Sponsor has agreed that it
will be liable to the Company if and to the extent any claims by a third party for services rendered or products sold to the Company,
or a prospective target business with which the Company has entered into a written letter of intent, confidentiality or similar
agreement or Business Combination agreement, reduce the amount of funds in the Trust Account to below the lesser of (i) $10.00
per Public Share and (ii) the actual amount per Public Share held in the Trust Account as of the day of liquidation of the Trust
Account, if less than $10.00 per share due to reductions in the value of the trust assets, less taxes payable, provided that such
liability will not apply to any claims by a third party or prospective target business who executed a waiver of any and all rights
to monies held in the Trust Account (whether or not such waiver is enforceable) nor will it apply to any claims under the Company&rsquo;s
indemnity of the underwriter of Proposed Offering against certain liabilities, including liabilities under the Securities Act
of 1933, as amended (the &ldquo;Securities Act&rdquo;). However, the Company has not asked the Sponsor to reserve for such indemnification
obligations, nor has the Company independently verified whether the Sponsor has sufficient funds to satisfy its indemnity obligations
and believe that the Sponsor&rsquo;s only assets are securities of the Company. Therefore, the Company cannot assure its stockholders
that the Sponsor would be able to satisfy those obligations. None of the Company&rsquo;s officers or directors will indemnify
the Company for claims by third parties including, without limitation, claims by vendors and prospective target businesses. The
Company will seek to reduce the possibility that the Sponsor will have to indemnify the Trust Account due to claims of creditors
by endeavoring to have all vendors, service providers, prospective target businesses or other entities with which the Company
does business, execute agreements with the Company waiving any right, title, interest or claim of any kind in or to monies held
in the Trust Account.</P>

<P STYLE="text-indent: 0.25in; font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin: 0pt auto 0pt 0"><B>Going Concern Consideration</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">At August 17, 2020, the Company
had $25,000 in cash and a working capital deficiency of $35,266. 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 for a period of time within one year after the date that the financial statements are issued. Management
plans to address this uncertainty through the Proposed Offering as discussed in Note 3. There is no assurance that the Company&rsquo;s
plans to raise capital or to consummate a Business Combination will be successful or 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="text-indent: 0.25in; font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt"><B>NOTE 2. SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES</B></P>

<P STYLE="text-indent: 0.25in; font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin: 0pt auto 0pt 0"><B>Basis of presentation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">The accompanying financial statements
are presented in conformity with accounting principles generally accepted in the United States of America (&ldquo;GAAP&rdquo;)
and pursuant to the rules and regulations of the SEC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">In the opinion of management, the accompanying
unaudited financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair
presentation of the financial position, operating results and cash flows for the period presented. The interim results for the
period from July 24, 2020 (inception) through August 17, 2020 are not necessarily indicative of the results to be expected for
the year ending December 31, 2020 or for any future interim periods.</P>

<P STYLE="text-indent: 0.25in; font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.25in; margin: 0pt auto 0pt 0"><B>Emerging growth company</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">The Company is 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 (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 independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley
Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions
from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute
payments not previously approved.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 153; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SEAPORT GLOBAL ACQUSITION CORP.<BR>
NOTES TO FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0"><B>NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
</B>(cont.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">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&rsquo;s financial statements
with another public company, which is neither an emerging growth company nor an emerging growth company which has opted out of
using the extended transition period difficult or impossible because of the potential differences in accounting standards used.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0"><B>Use of estimates</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">The preparation of financial
statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets
and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts
of revenues and expenses during the reporting period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">Making estimates requires management
to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation
or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate,
could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly
from those estimates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0"><B>Cash and cash equivalents</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">The Company considers all short-term
investments with an original maturity of three months or less when purchased to be cash equivalents. The Company did not have
any cash equivalents as of August 17, 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0"><B>Deferred offering costs</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">Deferred offering costs consist
of underwriting, legal, accounting and other expenses incurred through the balance sheet date that are directly related to the
Proposed Offering and that will be charged to stockholder&rsquo;s equity upon the completion of the Proposed Offering. Should
the Proposed Offering prove to be unsuccessful, these deferred costs, as well as additional expenses incurred, will be charged
to operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0"><B>Income taxes</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">The Company complies with the
accounting and reporting requirements of ASC Topic 740, &ldquo;Income Taxes,&rdquo; which requires an asset and liability approach
to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences
between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts,
based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income.
Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">ASC Topic 740 prescribes a recognition
threshold and a measurement attribute for the financial statement recognition and measurement of tax positions 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. The Company recognizes accrued interest and penalties related to unrecognized tax benefits,
if any, as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of
August 17, 2020. The Company is currently not aware of any issues under review that could result in significant payments, accruals
or material deviation from its position.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 154; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SEAPORT GLOBAL ACQUISITION CORP.<BR>
NOTES TO FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0"><B>NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
</B>(cont.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">The provision for income taxes
was deemed to be immaterial for all periods presented.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0"><B>Net loss per common share</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">Net loss per share of common
stock is computed by dividing net loss by the weighted average number of common shares outstanding during the period, excluding
common shares subject to forfeiture. Weighted average shares were reduced for the effect of an aggregate of 468,750 shares of
Class B common stock that are subject to forfeiture if the over-allotment option is not exercised by the underwriter (see Notes
7 and 8). At August 17, 2020, the Company did not have any dilutive securities and other contracts that could, potentially, be
exercised or converted into common stock and then share in the earnings of the Company. As a result, diluted loss per share is
the same as basic loss per share for the period presented.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0"><B>Concentration of credit risk</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">Financial instruments that potentially
subject the Company to concentration of credit risk consist of a cash account in a financial institution which, at times may exceed
the Federal Depository Insurance Corporation coverage limit of $250,000. At August 17, 2020, the Company had not experienced losses
on this account and management believes the Company is not exposed to significant risks on such account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0"><B>Fair value of financial instruments</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">The fair value of the Company&rsquo;s
assets and liabilities, which qualify as financial instruments under ASC Topic 820, &ldquo;Fair Value Measurements and Disclosures,&rdquo;
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: 0pt 125.8pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0"><B>Recently issued accounting standards</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">Management does not believe
that any recently issued, but not yet effective, accounting pronouncements, 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: 0pt auto 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0"><B>NOTE 3. PROPOSED OFFERING</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">Pursuant to the Proposed Offering,
the Company will offer for sale up to 12,500,000 Units (or 14,375,000 Units if the underwriter&rsquo;s overallotment option is
exercised in full) at a purchase price of $10.00 per Unit. Each Unit will consist of one share of the Company&rsquo;s Class A
common stock, $0.0001 par value, and one-half of one redeemable warrant (&ldquo;Public Warrant&rdquo;). Each Public Warrant will
entitle the holder to purchase one share of Class A common stock at an exercise price of $11.50 per whole share (see Note 7).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0"><B>NOTE 4. PRIVATE PLACEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">The Sponsor has agreed to purchase
an aggregate of 4,250,000 Private Placement Warrants (or 4,625,000 Private Placement Warrants if the over-allotment option is
exercised in full) at a price of $1.00 per warrant ($4,250,000 in the aggregate, or $4,625,000 if the over-allotment option is
exercised in full), each exercisable to purchase one share of Class A common stock at a price of $11.50 per share, in a private
placement that will close simultaneously with the closing of Proposed Offering. The proceeds from the sale of the Private Placement
Warrants will be added to the net proceeds from the Proposed Offering held in the Trust Account. If the Company does not complete
a Business Combination within the Combination Period, the proceeds from the sale of the Private Placement Warrants will be used
to fund the redemption of the Public Shares (subject to the requirements of applicable law) and the Private Placement Warrants
will expire worthless.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in"></P>

<!-- Field: Page; Sequence: 155; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SEAPORT GLOBAL ACQUISITION CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0"><B>NOTE 5. RELATED PARTY TRANSACTIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0"><B>Founder Shares</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">In July 2020, the Company issued
an aggregate of 3,593,750 shares (the &ldquo;Founder Shares&rdquo;) to the Sponsor for an aggregate purchase price of $25,000
in cash.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">The initial stockholders have
agreed not to transfer, assign or sell any of their Founder Shares until the earlier to occur of: (A) one year after the completion
of a Business Combination or (B) the date on which the Company completes a liquidation, merger, capital stock exchange or similar
transaction that results in the Company&rsquo;s stockholders having the right to exchange their shares of common stock for cash,
securities or other property. Notwithstanding the foregoing, if the last sale price of the Company&rsquo;s Class A common stock
equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the
like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the Business Combination, the
Founder Shares will be released from the lock-up.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0"><B>Promissory Note &mdash; Related Party</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">On July 24, 2020, the Sponsor agreed to
loan the Company an aggregate of up to $300,000 to cover expenses related to the Proposed Offering pursuant to a promissory note
(the &ldquo;Note&rdquo;). The Note is non-interest bearing and is payable on the earlier of December 31, 2021 or the completion
of the Proposed Offering. As of August 17, 2020, the Company had an aggregate of $60,266 outstanding under the Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0"><B>Related Party Loans</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">In order to finance transaction
costs in connection with a Business Combination, the Company&rsquo;s Sponsor, an affiliate of the Sponsor, or the Company&rsquo;s
officers and directors may, but are not obligated to, loan the Company funds as may be required (the &ldquo;Working Capital Loans&rdquo;).
Such Working Capital Loans would be evidenced by promissory notes. The notes would either be repaid upon consummation of a Business
Combination, without interest, or, at the lender&rsquo;s discretion, up to $1,500,000 of notes may be converted upon consummation
of a Business Combination into warrants at a price of $1.00 per warrant. The warrants will be identical to the Private Placement
Warrants. In the event that a Business Combination does not close, the Company may use a portion of proceeds held outside the
Trust Account to repay the Working Capital Loans but no proceeds held in the Trust Account would be used to repay the Working
Capital Loans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0"><B>Administrative Support Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">Commencing on the day the Units
are first listed on the NASDAQ, the Company will agree to pay the Sponsor a total of $10,000 per month for office space, utilities
and secretarial and administrative support. Upon completion of the Business Combination or the Company&rsquo;s liquidation, the
Company will cease paying these monthly fees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0"><B>NOTE 6. COMMITMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0"><B>Registration Rights</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">The holders of the Founder Shares,
Private Placement Warrants and any warrants that may be issued upon conversion of the Working Capital Loans (and any shares of
Class A common stock issuable upon the exercise of the Private Placement Warrants and warrants that may be issued upon conversion
of Working Capital Loans and upon conversion of the Founder Shares) will be entitled to registration rights pursuant to a registration
rights agreement to be signed prior to or on the effective date of the Proposed Offering, requiring the Company to register such
securities for resale (in the case of the Founder Shares, only after conversion to our Class A common stock). The holders of the
majority of these securities are entitled to make up to three demands, excluding short form demands, that the Company register
such securities. In addition, the holders have certain &ldquo;piggy-back&rdquo; registration rights with respect to registration
statements filed subsequent to the consummation of a Business Combination and rights to require the Company to register for resale
such securities pursuant to Rule 415 under the Securities Act. The Company will bear the expenses incurred in connection with
the filing of any such registration statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in"></P>

<!-- Field: Page; Sequence: 156; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SEAPORT GLOBAL ACQUISITION CORP.<BR>
NOTES TO FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0"><B>NOTE 6. COMMITMENTS </B>(cont.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0"><B>Underwriter&rsquo;s Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">The Company will grant the underwriter
a 45-day option to purchase up to 1,875,000 additional Units to cover over-allotments at the Proposed Offering price, less the
underwriting discounts and commissions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">The underwriter will be entitled
to a cash underwriting discount of two percent (2.00%) of the gross proceeds of the Proposed Offering, or $2,500,000 (or $2,875,000
if the over-allotment option in exercised in full). In addition, the underwriter will be entitled to a deferred fee of three and
half percent (3.50%) of the gross proceeds of the Proposed Offering, or $4,375,000 (or $5,031,250 if the over-allotment option
in exercised in full). The deferred fee will become payable to the underwriter from the amounts held in the Trust Account solely
in the event that the Company completes a Business Combination, subject to the terms of the underwriting agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0"><B>NOTE 7. STOCKHOLDERS&rsquo; EQUITY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in"><B><I>Preferred Stock</I></B>
 &mdash; The Company is authorized to issue 1,000,000 shares of $0.0001 par value preferred stock. At August 17, 2020, there were
no shares of Preferred Stock issued or outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in"><B><I>Class A Common Stock </I></B>&mdash;
The Company is authorized to issue up to 100,000,000 shares of Class A, $0.0001 par value common stock. Holders of the Company&rsquo;s
common stock are entitled to one vote for each share. At August 17, 2020, there were no shares of Class A common stock issued
or outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in"><B><I>Class B Common Stock </I></B>&mdash;
The Company is authorized to issue up to 10,000,000 shares of Class B, $0.0001 par value common stock. Holders of the Company&rsquo;s
common stock are entitled to one vote for each share. The shares of Class B common stock will automatically convert into shares
of Class A common stock at the time of the Business Combination on a one-for-one basis, subject to adjustment for stock splits,
stock dividends, reorganizations, recapitalizations and the like. In the case that additional shares of Class A common stock,
or equity linked securities, are issued or deemed issued in excess of the amounts offered in the Proposed Offering and related
to the closing of a Business Combination, the ratio at which shares of Class B common stock shall convert into shares of Class
A common stock will be adjusted (unless the holders of a majority of the outstanding shares of Class B common stock agree to waive
such adjustment with respect to any such issuance or deemed issuance) so that the number of shares of Class A common stock issuable
upon conversion of all shares of Class B common stock will equal, in the aggregate, on an as converted basis, 20% of the sum of
the total number of all shares of common stock outstanding upon the completion of the Proposed Offering plus all shares of Class
A common stock and equity linked securities issued or deemed issued in connection with a Business Combination (excluding any shares
or equity linked securities issued, or to be issued, to any seller in a Business Combination, and any private placement-equivalent
warrants issued to the Sponsor or its affiliates upon conversion of loans made to the Company). Holders of Founder Shares may
also elect to convert their shares of Class B common stock into an equal number of shares of Class A common stock, subject to
adjustment as provided above, at any time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in"></P>

<!-- Field: Page; Sequence: 157; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SEAPORT GLOBAL ACQUISITION CORP.<BR>
NOTES TO FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0"><B>NOTE 7. STOCKHOLDERS&rsquo; EQUITY </B>(cont.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">The Company may issue additional
common stock or preferred stock to complete its Business Combination or under an employee incentive plan after completion of its
Business Combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in"><B><I>Warrants &mdash;</I></B>
The Public Warrants will become exercisable on the later of (a) 30 days after the consummation of a Business Combination or (b)
12 months from the effective date of the registration statement relating to the Proposed Offering. No Public Warrants will be
exercisable for cash unless the Company has an effective and current registration statement covering the common shares issuable
upon exercise of the Public Warrants and a current prospectus relating to such common shares. Notwithstanding the foregoing, if
a registration statement covering the Class A common shares issuable upon the exercise of the Public Warrants is not effective
within 60 days from the consummation of a Business Combination, the holders may, until such time as there is an effective registration
statement and during any period when the Company shall have failed to maintain an effective registration statement, exercise the
Public Warrants on a cashless basis pursuant to an available exemption from registration under the Securities Act. If an exemption
from registration is not available, holders will not be able to exercise their Public Warrants on a cashless basis. The Public
Warrants will expire five years from the consummation of a Business Combination or earlier upon redemption or liquidation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">The Company may call the Public
Warrants for redemption (excluding the Private Placement Warrants), in whole and not in part, at a price of $0.01 per warrant:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="text-indent: 0.25in; font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;upon
not less than 30 days&rsquo; prior written notice of redemption to each Public Warrant holder,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if,
and only if, the last sale price of our Class A common stock equals or exceeds $18.00 per share (as adjusted for stock splits,
stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period ending
on the third trading day prior to the date on which the Company sends the notice of redemption to the warrant holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">The Private Placement Warrants
will be identical to the Public Warrants underlying the Units being sold in the Proposed Offering, except that the Private Placement
Warrants will and the common shares issuable upon the exercise of the Private Placement Warrants will not be transferable, assignable
or salable until after the completion of a Business Combination, subject to certain limited exceptions. Additionally, the Private
Placement Warrants will be exercisable on a cashless basis and will be non-redeemable so long as they are held by the initial
purchasers or their permitted transferees. If the Private Placement Warrants are held by someone other than the initial purchasers
or their permitted transferees, the Private Placement Warrants will be redeemable by the Company and exercisable by such holders
on the same basis as the Public Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">The exercise price and number
of shares of Class A common stock issuable upon exercise of the warrants may be adjusted in certain circumstances including in
the event of a share dividend, or recapitalization, reorganization, merger or consolidation. Additionally, in no event will the
Company be required to net cash settle the Public Warrants. If the Company is unable to complete a Business Combination within
the Combination Period and the Company liquidates the funds held in the Trust Account, holders of warrants will not receive any
of such funds with respect to their warrants, nor will they receive any distribution from the Company&rsquo;s assets held outside
of the Trust Account with the respect to such warrants. Accordingly, the warrants may expire worthless. If the Company calls the
Public Warrants for redemption, management will have the option to require all holders that wish to exercise the Public Warrants
to do so on a &ldquo;cashless basis,&rdquo; as described in the warrant agreement. The exercise price and number of common shares
issuable upon exercise of the Public Warrants may be adjusted in certain circumstances including in the event of a stock dividend,
extraordinary dividend or recapitalization, reorganization, merger or consolidation. If the Company is unable to complete a Business
Combination within the Combination Period and the Company liquidates the funds held in the Trust Account, holders of warrants
will not receive any of such funds with respect to their warrants, nor will they receive any distribution from the Company&rsquo;s
assets held outside of the Trust Account with respect to such warrants. Accordingly, the warrants may expire worthless.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 158; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SEAPORT GLOBAL ACQUISITION CORP. NOTES
TO FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0"><B>NOTE 7. STOCKHOLDERS&rsquo; EQUITY </B>(cont.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">In addition, if (x) the Company
issues additional shares of Class A common stock or equity-linked securities for capital raising purposes in connection with the
closing of its initial Business Combination at an issue price or effective issue price of less than $9.20 per share of Class A
common stock (with such issue price or effective issue price to be determined in good faith by the Company&rsquo;s board of directors
and, in the case of any such issuance to the Sponsor or its affiliates, without taking into account any Founder Shares held by
the Sponsor or such affiliates, as applicable, prior to such issuance) (the &ldquo;Newly Issued Price&rdquo;), (y) the aggregate
gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the
funding of the Company&rsquo;s initial Business Combination on the date of the consummation of such initial Business Combination
(net of redemptions), and (z) the volume weighted average trading price of the Company&rsquo;s common stock during the 20 trading
day period starting on the trading day prior to the day on which the Company consummates its initial Business Combination (such
price, the &ldquo;Market Value&rdquo;) is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest
cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price and the $18.00 per share redemption trigger
price described above will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly
Issued Price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0"><B>NOTE 8. SUBSEQUENT EVENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto 0pt 0; text-indent: 0.25in">The Company evaluated subsequent
events and transactions that occurred after the balance sheet date up to September 10, 2020, the date that the financial statements
were available to be issued. The Company did not identify any subsequent events that would have required adjustment or disclosure
in the financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 159; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 125.8pt 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>12,500,000 Units</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Seaport Global Acquisition Corp.</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 0 auto; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PRELIMINARY PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>, 2020</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 0 auto; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>Sole Book-Running Manager</I></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>B. Riley Securities, Inc.</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Until &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2020 (25 days after the date of this prospectus), all dealers that buy, sell or trade our Class&nbsp;A 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><B>You should rely only on the information
contained in this prospectus. We have not, and the underwriters have not, authorized anyone to provide you with different information.
If anyone provides you with different or inconsistent information, you should not rely on it. We are not, and the underwriters
are not, making an offer to sell securities in any jurisdiction where the offer or sale is not permitted. You should not assume
that the information contained in this prospectus is accurate as of any date other than the date on the front of this prospectus.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"><B>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.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 160 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART II</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INFORMATION NOT REQUIRED IN PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 13. Other Expenses of Issuance and Distribution.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">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 Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&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: 87%; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt">Legal
    fees and expenses</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">225,000</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt">Accounting
    fees and expenses</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">40,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt">SEC/FINRA Expenses</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">38,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt">Travel and
    road show</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">20,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt">Nasdaq listing
    and filing fees</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">75,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director
    and Officer liability insurance premiums<SUP>(1)</SUP></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">125,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 10pt">Printing and
    engraving expenses</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">40,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt">Miscellaneous
    expenses</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">187,000</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt; text-indent: -10pt; padding-left: 10pt">Total
    offering expenses</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">750,000</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
</TABLE>


<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-indent: -24pt">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
amount represents the approximate amount of annual director and officer liability insurance premiums the registrant anticipates
paying following the completion of its initial public offering and until it completes an initial business combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 14. Indemnification of Directors and officers.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our amended and restated certificate of
incorporation will provide that all of our directors, officers, employees and agents shall be entitled to be indemnified by us
to the fullest extent permitted by Section 145 of the DGCL. 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 Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Section 145. Indemnification of officers,
directors, employees and agents; insurance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"></P>

<!-- Field: Page; Sequence: 161; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">(d)&nbsp;&nbsp;&nbsp;&nbsp;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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">(g)&nbsp;&nbsp;&nbsp;&nbsp;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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt"></P>

<!-- Field: Page; Sequence: 162; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">(h)&nbsp;&nbsp;&nbsp;&nbsp;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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">(k)&nbsp;&nbsp;&nbsp;&nbsp;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 by law, 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).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">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 Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In accordance with Section 102(b)(7) of
the DGCL, our amended and restated certificate of incorporation, will provide that no director shall be personally liable to us
or any of our stockholders for monetary damages resulting from breaches of their fiduciary duty as directors, except to the extent
such limitation on or exemption from liability is not permitted under the DGCL. The effect of this provision of our amended and
restated certificate of incorporation is to eliminate our rights and those of our stockholders (through stockholders&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 Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">If the DGCL is amended to authorize corporate
action further eliminating or limiting the liability of directors, then, in accordance with our amended and restated certificate
of incorporation, the liability of our directors to us or our stockholders will be eliminated or limited to the fullest extent
authorized by the DGCL, as so amended. Any repeal or amendment of provisions of our amended and restated certificate of incorporation
limiting or eliminating the liability of directors, whether by our stockholders or by changes in law, or the adoption of any other
provisions inconsistent therewith, will (unless otherwise required by law) be prospective only, except to the extent such amendment
or change in law permits us to further limit or eliminate the liability of directors on a retroactive basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 163; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Our amended and restated certificate of
incorporation will also provide that we will, to the fullest extent authorized or permitted by applicable law, indemnify our current
and former officers and directors, as well as those persons who, while directors or officers of our corporation, are or were serving
as directors, officers, employees or agents of another entity, trust or other enterprise, including service with respect to an
employee benefit plan, in connection with any threatened, pending or completed proceeding, whether civil, criminal, administrative
or investigative, against all expense, liability and loss (including, without limitation, 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Notwithstanding the foregoing, a person
eligible for indemnification pursuant to our amended and restated certificate of incorporation will be indemnified by us in connection
with a proceeding initiated by such person only if such proceeding was authorized by our board of directors, except for proceedings
to enforce rights to indemnification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The right to indemnification which will
be conferred by our amended and restated certificate of incorporation is a contract right that includes the right to be paid by
us the expenses incurred in defending or otherwise participating in any proceeding referenced above in advance of its final disposition,
provided, however, that if the DGCL requires, an advancement of expenses incurred by our officer or director (solely in the capacity
as an officer or director of our corporation) will be made only upon delivery to us of an undertaking, by or on behalf of such
officer or director, to repay all amounts so advanced if it is ultimately determined that such person is not entitled to be indemnified
for such expenses under our amended and restated certificate of incorporation or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">The rights to indemnification and advancement
of expenses will not be deemed exclusive of any other rights which any person covered by our amended and restated certificate
of incorporation may have or hereafter acquire under law, our amended and restated certificate of incorporation, our bylaws, an
agreement, vote of stockholders or disinterested directors, or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Any repeal or amendment of provisions of
our amended and restated certificate of incorporation affecting indemnification rights, whether by our stockholders or by changes
in law, or the adoption of any other provisions inconsistent therewith, will (unless otherwise required by law) be prospective
only, except to the extent such amendment or change in law permits us to provide broader indemnification rights on a retroactive
basis, and will not in any way diminish or adversely affect any right or protection existing at the time of such repeal or amendment
or adoption of such inconsistent provision with respect to any act or omission occurring prior to such repeal or amendment or
adoption of such inconsistent provision. Our amended and restated certificate of incorporation will also permit us, to the extent
and in the manner authorized or permitted by law, to indemnify and to advance expenses to persons other that those specifically
covered by our amended and restated certificate of incorporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">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 which will be set forth in our amended and restated certificate of incorporation. In addition, our bylaws provide for
a right of indemnity to bring a suit in the event a claim for indemnification or advancement of expenses is not paid in full by
us within a specified period of time. Our bylaws also permit us to purchase and maintain insurance, at our expense, to protect
us and/or any director, officer, employee or agent of our corporation or another entity, trust or other enterprise against any
expense, liability or loss, whether or not we would have the power to indemnify such person against such expense, liability or
loss under the DGCL.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">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 Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">We will enter into indemnification agreements
with each of our officers and directors a form of which is to be filed as an exhibit to this Registration Statement. These agreements
will require us to indemnify these individuals to the fullest extent permitted under Delaware law against liabilities that may
arise by reason of their service to us, and to advance expenses incurred as a result of any proceeding against them as to which
they could be indemnified.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt"></P>

<!-- Field: Page; Sequence: 164 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Pursuant to the Underwriting Agreement to
be filed as Exhibit 1.1 to this Registration Statement, we have agreed to indemnify the underwriters and the underwriters have
agreed to indemnify us against certain civil liabilities that may be incurred in connection with this offering, including certain
liabilities under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 15. Recent Sales of Unregistered Securities.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In July 2020, our sponsor purchased 3,593,750
founder shares for an aggregate purchase price of $25,000, or approximately $0.007 per share. The number of founder shares issued
was determined based on the expectation that the founder shares would represent 20% of the outstanding shares of common stock
upon completion of this offering. Such securities were issued in connection with our organization pursuant to the exemption from
registration contained in Section 4(a)(2) of the Securities Act. Our sponsor is an accredited investor for purposes of Rule 501
of Regulation D.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">In addition, our sponsor has committed,
pursuant to a written agreement, to purchase from us an aggregate of 4,250,000 private placement warrants (or 4,625,000 private
placement warrants if the over-allotment option is exercised in full) at a price of $1.00 per warrant ($4,250,000 in the aggregate,
or $4,625,000 if the over-allotment option is exercised in full). This purchase will take place on a private placement basis simultaneously
with the completion of our initial public offering. This issuance will be made pursuant to the exemption from registration contained
in Section 4(a)(2) of the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 16. Exhibits and Financial Statement Schedules.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(a)</TD><TD STYLE="text-align: justify"><I>Exhibits.</I>&nbsp;&nbsp;&nbsp;&nbsp;The
                                         list of exhibits preceding the signature page of this registration statement is incorporated
                                         herein by reference.</TD>
</TR>     <TR STYLE="vertical-align: top; text-align: justify">
<TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(b)</TD><TD STYLE="text-align: justify"><I>Financial
                                         Statements.</I>&nbsp;&nbsp;&nbsp;&nbsp;See page F-1 for an index to the financial statements
                                         and schedules included in the registration statement.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 17. Undertakings.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(a)</TD><TD STYLE="text-align: justify">The
                                         undersigned registrant hereby undertakes to provide to the underwriters at the closing
                                         specified in the underwriting agreements, certificates in such denominations and registered
                                         in such names as required by the underwriters to permit prompt delivery to each purchaser.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(b)</TD><TD STYLE="text-align: justify">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.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">(c)</TD><TD STYLE="text-align: justify">The
                                         undersigned registrant hereby undertakes that:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 48pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">(1)</TD><TD STYLE="text-align: justify">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.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">(2)</TD><TD STYLE="text-align: justify">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.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -24pt"></P>

<!-- Field: Page; Sequence: 165 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">(3)</TD><TD STYLE="text-align: justify">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&nbsp;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.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">(4)</TD><TD STYLE="text-align: justify">For the
                                         purpose of determining liability of a registrant under the Securities Act of 1933 to
                                         any purchaser in the initial distribution of the securities, the undersigned registrant
                                         undertakes that in a primary offering of securities of an undersigned registrant pursuant
                                         to this registration statement, regardless of the underwriting method used to sell the
                                         securities to the purchaser, if the securities are offered or sold to such purchaser
                                         by means of any of the following communications, the undersigned registrant will be a
                                         seller to the purchaser and will be considered to offer or sell such securities to such
                                         purchaser:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left">(i)</TD><TD STYLE="text-align: justify">Any
                                         preliminary prospectus or prospectus of the undersigned registrant relating to the offering
                                         required to be filed pursuant to Rule 424;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 96pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left">(ii)</TD><TD STYLE="text-align: justify">Any
                                         free writing prospectus relating to the offering prepared by or on behalf of the undersigned
                                         registrant or used or referred to by an undersigned registrant;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 96pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left">(iii)</TD><TD STYLE="text-align: justify">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</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 96pt; text-indent: -24pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left">(iv)</TD><TD STYLE="text-align: justify">Any
                                         other communication that is an offer in the offering made by the undersigned registrant
                                         to the purchaser.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 96pt; text-indent: -24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 166 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 5%; border-bottom: black 1pt solid; padding-right: 3pt"><FONT STYLE="font-size: 10pt"><B>Exhibit</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 94%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Description</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD><FONT STYLE="font-size: 10pt">1.1</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Underwriting Agreement**</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="tm2030462d2_ex3-1.htm"><FONT STYLE="font-size: 10pt">3.1</FONT></A></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><A HREF="tm2030462d2_ex3-1.htm"><FONT STYLE="font-size: 10pt">Certificate of Incorporation*</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD><FONT STYLE="font-size: 10pt">3.2</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Amended and Restated Certificate of Incorporation**</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="tm2030462d2_ex3-3.htm"><FONT STYLE="font-size: 10pt">3.3</FONT></A></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><A HREF="tm2030462d2_ex3-3.htm"><FONT STYLE="font-size: 10pt">Bylaws*</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD><FONT STYLE="font-size: 10pt">4.1</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Specimen Unit Certificate**</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">4.2</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Specimen Class A Common Stock Certificate**</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD><FONT STYLE="font-size: 10pt">4.3</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Specimen Warrant Certificate**</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">4.4</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Warrant Agreement between Continental Stock Transfer &amp; Trust Company, LLC and
    the Registrant**</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD><FONT STYLE="font-size: 10pt">5.1</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Opinion of Ellenoff Grossman &amp; Schole LLP**</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.1</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Letter Agreement among the Registrant and our officers, directors and Seaport Global
    SPAC, LLC**</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD><A HREF="tm2030462d2_ex10-2.htm"><FONT STYLE="font-size: 10pt">10.2</FONT></A></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><A HREF="tm2030462d2_ex10-2.htm"><FONT STYLE="font-size: 10pt">Promissory Note, dated July 24, 2020, issued to Seaport
    Global SPAC, LLC*</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.3</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Investment Management Trust Agreement between Continental Stock Transfer &amp; Trust
    Company, LLC and the Registrant**</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD><FONT STYLE="font-size: 10pt">10.4</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Registration and Shareholder Rights Agreement between the Registrant and certain
    security holders**</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="tm2030462d2_ex10-5.htm"><FONT STYLE="font-size: 10pt">10.5</FONT></A></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><A HREF="tm2030462d2_ex10-5.htm"><FONT STYLE="font-size: 10pt">Securities Subscription Agreement, dated July 24, 2020,
    between the Registrant and Seaport Global SPAC, LLC*</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD><FONT STYLE="font-size: 10pt">10.6</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Private Placement Warrants Purchase Agreement between the Registrant and Seaport
    Global SPAC, LLC**</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.7</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Indemnity Agreement**</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD><FONT STYLE="font-size: 10pt">10.8</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Administrative Support Agreement by and between the Registrant and Seaport Global
    SPAC, LLC**</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">14</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Code of Ethics**</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD><A HREF="tm2030462d2_ex23-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">23.1</FONT></A></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><A HREF="tm2030462d2_ex23-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Consent of Marcum LLP*</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">23.2</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Consent of Ellenoff Grossman &amp; Schole LLP (included in Exhibit 5.1)**</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD><A HREF="#sp6_001"><FONT STYLE="font-size: 10pt">24</FONT></A></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><A HREF="#sp6_001"><FONT STYLE="font-size: 10pt">Power of Attorney (included on signature page)*</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">99.1</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Audit Committee Charter**</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD><FONT STYLE="font-size: 10pt">99.2</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Form of Compensation Committee Charter**</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="tm2030462d2_ex99-3.htm"><FONT STYLE="font-size: 10pt">99.3</FONT></A></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><A HREF="tm2030462d2_ex99-3.htm"><FONT STYLE="font-size: 10pt">Consent of Jay Burnham.*</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
    <TD><A HREF="tm2030462d2_ex99-4.htm"><FONT STYLE="font-size: 10pt">99.4</FONT></A></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><A HREF="tm2030462d2_ex99-4.htm"><FONT STYLE="font-size: 10pt">Consent of Shelley Greenhaus.*</FONT></A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="tm2030462d2_ex99-5.htm"><FONT STYLE="font-size: 10pt">99.5</FONT></A></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><A HREF="tm2030462d2_ex99-5.htm"><FONT STYLE="font-size: 10pt">Consent of Jeremy Hedberg.*</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD><A HREF="tm2030462d2_ex99-6.htm"><FONT STYLE="font-size: 10pt">99.6</FONT></A></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><A HREF="tm2030462d2_ex99-6.htm"><FONT STYLE="font-size: 10pt">Consent of Charles Yamarone. *</FONT></A></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-indent: -24pt">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Filed
herewith</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-indent: -24pt">**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
be filed by amendment</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 167 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="sp6_001"></A>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Pursuant to the requirements of the Securities
Act of 1933, as amended, the registrant has duly caused this Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of New York, State of New York, on the 13th day of October, 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&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>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Seaport Global Acquisition Corp.</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 55%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 40%">/s/ Stephen C. Smith</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stephen C. Smith</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">KNOW ALL MEN BY THESE PRESENTS, that each
person whose signature appears below constitutes and appoints Stephen C. Smith his true and lawful attorney-in-fact, with full
power of substitution and resubstitution for him and in his 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 SEC, 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 Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">Pursuant to the requirements of the Securities
Act of 1933, as amended, this Registration Statement has been signed below by the following persons in the capacities and on the
dates indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24pt">&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: 31%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 48%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Position</B></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 19%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center"><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="border-bottom: Black 1pt solid; padding-top: 12pt">/s/ Stephen C. Smith</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-top: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief&nbsp;Executive&nbsp;Officer
    and</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">October
    13, 2020</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stephen C. Smith</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman of the Board (Principal Executive Officer)</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Michael Ring&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief&nbsp;Financial&nbsp;Officer&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">October
    13, 2020</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Michael Ring</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Principal Financial and Accounting Officer)</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 168; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

</BODY>
</HTML>
[{"type": "S-1", "sequence": "1", "filename": "tm2030462d2_s1.htm", "description": "S-1", "secsgml_size_bytes": 1434189}]
{"company-data": {"conformed-name": "Seaport Global Acquisition Corp", "cik": "0001820201", "assigned-sic": "6770", "irs-number": "852157010", "state-of-incorporation": "DC", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-1", "act": "33", "file-number": "333-249446", "film-number": "201235353"}, "business-address": {"street1": "360 MADISON AVENUE 20TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10017", "phone": "212-616-770"}, "mail-address": {"street1": "360 MADISON AVENUE 20TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10017"}}
As filed with the Securities and Exchange
Commission on October 13, 2020.
Registration No. 333-
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-1
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
Seaport Global Acquisition Corp.
(Exact name of registrant as specified
in its charter)
Delaware
6770
85-2157010
(State or other jurisdiction
    of
incorporation or organization)
(Primary Standard
    Industrial
Classification Code Number)
(I.R.S. Employer
Identification Number)
360 Madison Avenue, 20th Floor
New York, NY 10017
Telephone: 212-616-7700
(Address, Including Zip Code, and Telephone Number, Including Area Code, of Registrant's Principal Executive Offices)
Stephen C. Smith
Chairman and Chief Executive Officer
360 Madison Avenue, 20th Floor
New York, NY 10017
Telephone: 212-616-7700
(Name, Address, Including Zip Code, and Telephone Number, Including Area Code, of Agent For Service)
Copies to:
Douglas
                                         S. Ellenoff, Esq.
Stuart
                                         Neuhauser, Esq.
Ellenoff
                                         Grossman & Schole LLP
1345
                                         Avenue of the Americas
New York,
                                         NY 10105
Tel:
                                         (212) 370-1300
Joel
                                         L. Rubinstein, Esq.
Daniel
                                         E. Nussen, Esq.
White
                                         & Case LLP
1221
                                         Avenue of the Americas
New
                                         York, New York 10020
Tel:
                                         (212) 819-8200
Approximate date of commencement of proposed
sale to the public:
As soon as practicable after the effective date of this registration statement.
If
any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415
under the Securities Act of 1933 check the following box.
¨
If
this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act,
please check the following box and list the Securities Act registration statement number of the earlier effective registration
statement for the same offering.
¨
If
this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following
box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.
¨
If
this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following
box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.
¨
Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth
company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting
company" and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filer
¨
Accelerated filer
¨
Non-accelerated filer
x
Smaller reporting company
x
Emerging growth company
x
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities
Act.
¨
CALCULATION
OF REGISTRATION FEE
Title of Each Class of Security Being Registered
Amount Being
Registered
Proposed
Maximum
Offering
Price per
Security
(1)
Proposed
Maximum
Aggregate
Offering
Price
(1)
Amount of
Registration
Fee
Units, each consisting of one share
    of Class A common stock, $0.0001 par value, and one half of one redeemable warrant
(2)
14,375,000 Units
$
10.00
$
143,750,000
$
15,683.13
Shares of Class A common stock included
    as part of the units
(3)
14,375,000 Shares
—
—
—
(4)
Redeemable warrants included
    as part of the units
(3)
7,187,500 Warrants
—
—
—
(4)
Total
$
143,750,000
$
15,683.13
(1)
Estimated solely
                                         for the purpose of calculating the registration fee pursuant to Rule 457(a).
(2)
Includes 1,875,000
                                         units, consisting of 1,875,000 shares of Class A common stock and 937,500 redeemable
                                         warrants, which may be issued upon exercise of a 45-day option granted to the underwriters
                                         to cover over-allotments, if any.
(3)
Pursuant to
                                         Rule 416 under the Securities Act, there are also being registered an indeterminable
                                         number of additional securities as may be issued to prevent dilution resulting from stock
                                         splits, stock dividends or similar transactions.
(4)
No fee pursuant
                                         to Rule 457(g) under the Securities Act.
The Registrant hereby amends this Registration
Statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment
which specifically states that this Registration Statement shall thereafter become effective in accordance with Section 8(a)
of the Securities Act of 1933, as amended, or until the Registration Statement shall become effective on such date as the Securities
and Exchange Commission, acting pursuant to said Section 8(a), may determine.
The information in this prospectus is not complete
and may be changed. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission
is effective. This prospectus is not an offer to sell these securities and it is not soliciting an offer to buy these securities
in any jurisdiction where the offer or sale is not permitted.
PRELIMINARY
    PROSPECTUS
SUBJECT
    TO COMPLETION, DATED OCTOBER 13, 2020
$125,000,000
Seaport Global Acquisition Corp.
12,500,000 Units
Seaport Global Acquisition Corp. is a newly
organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase,
reorganization or similar business combination with one or more businesses, which we refer to as our initial business combination.
We have not selected any specific business combination target and we have not, nor has anyone on our behalf, initiated any substantive
discussions, directly or indirectly, with any business combination target.
This is an initial public offering of our
securities. Each unit has an offering price of $10.00 and consists of one share of our Class A common stock and one-half
of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of our Class A common stock
at a price of $11.50 per share, subject to adjustment as described herein. Only whole warrants are exercisable. The warrants will
become exercisable on the later of 30 days after the completion of our initial business combination or 12 months from the
closing of this offering, and will expire five years after the completion of our initial business combination or earlier upon
redemption or liquidation, as described in this prospectus. No fractional warrants will be issued upon separation of the units
and only whole warrants will trade. The underwriters have a 45-day option from the date of this prospectus to purchase up to an
additional 1,875,000 units to cover over-allotments, if any. We will provide our public stockholders with the opportunity to redeem
all or a portion of their shares of our Class A common stock upon the completion of our initial business combination, subject
to the limitations described herein. If we do not complete our initial business combination within 24 months from the closing
of this offering, we will redeem 100% of the public shares for cash, subject to applicable law and certain conditions as further
described herein.
Our sponsor, Seaport Global SPAC, LLC, has
agreed to purchase an aggregate of 4,250,000 warrants (or 4,625,000 warrants if the over-allotment option is exercised in full)
at a price of $1.00 per warrant ($4,250,000 in the aggregate, or $4,625,000 if the over-allotment option is exercised in full)
each exercisable to purchase one share of our Class A common stock at a price of $11.50 per share, in a private placement
that will close simultaneously with the closing of this offering. We refer to these warrants throughout this prospectus as the
private placement warrants.
Our initial stockholders, which include
our sponsor, own an aggregate of 3,593,750 shares of our Class B common stock (up to 468,750 shares of which are subject
to forfeiture depending on the extent to which the underwriters' over-allotment option is exercised), which will automatically
convert into shares of Class A common stock at the time of our initial business combination.
Currently, there is no public market for
our units, Class A common stock or warrants. We have applied to list our units on The Nasdaq Capital Market, or Nasdaq, under
the symbol "SGAMU". We expect that our units will be listed on Nasdaq on or promptly after the date of this prospectus.
We cannot guarantee that our securities will be approved for listing on Nasdaq. We expect the Class A common stock and warrants
comprising the units will begin separate trading on the 52
nd
day following the date of this prospectus unless B. Riley
Securities, Inc., the representative of the underwriters, which we refer to in this prospectus as B. Riley Securities, Inc. informs
us of its decision to allow earlier separate trading, subject to our satisfaction of certain conditions. Once the securities comprising
the units begin separate trading, we expect that the Class A common stock and warrants will be listed on Nasdaq under the
symbols "SGAM" and "SGAMW," respectively.
We are an "emerging growth company"
under applicable federal securities laws and will be subject to reduced public company reporting requirements. Investing in our
securities involves a high degree of risk. See "Risk Factors" beginning on page 24 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 (the "SEC") nor any state securities commission has approved or disapproved of these securities or determined
if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
Per
    Unit
Total
Public offering price
$
10.00
$
125,000,000
Underwriting
    discounts and commissions
(1)
$
0.55
$
6,875,000
Proceeds, before
    expenses, to Seaport Global Acquisition Corp.
$
9.45
$
118,125,000
(1)      Includes
$0.35 per unit, or $4,375,000 in the aggregate (or $5,031,250 if the over-allotment option is exercised in full) payable to the
underwriters for deferred underwriting commissions which will be placed in a trust account located in the United States as
described herein and will only be payable upon consummation of our initial business combination. Does not include certain fees
and expenses payable to the underwriters in connection with this offering. See the section of this prospectus entitled "Underwriting"
beginning on page 132 for a description of compensation and other items of value payable to the underwriters.
Of the proceeds we receive from this offering
and the sale of the private placement warrants described in this prospectus, $125.0 million or $143.75 million if the underwriters'
over-allotment option is exercised in full ($10.00 per unit in either case) will be deposited into a trust account in the United States
at J.P. Morgan Chase Bank, N.A., with Continental Stock Transfer & Trust Company acting as trustee, and $1.75 million
will be available to pay fees and expenses in connection with the closing of this offering and for working capital following the
closing of this offering. The proceeds deposited in the trust account could become subject to the claims of our creditors, if
any, which could have priority over the claims of our public stockholders.
The underwriters are offering the units
for sale on a firm commitment basis. The underwriters expect to deliver the units to the purchasers on or about         ,
2020.
Sole Book-Running Manager
B. Riley Securities, Inc.
,
2020
TABLE OF CONTENTS
PAGE
Summary
1
Risk
    Factors
24
Cautionary
    Note Regarding Forward-Looking Statements
54
Use of Proceeds
55
Dividend
    Policy
59
Dilution
60
Capitalization
62
Management's
    Discussion and Analysis of Financial Condition and Results of Operations
63
Proposed
    Business
69
Management
96
Principal
    Stockholders
105
Certain
    Relationships and Related Party Transactions
107
Description
    of Securities
110
Material
    U.S. Federal Income Tax Considerations
124
Underwriting
132
Legal
    Matters
140
Experts
140
Where
    You Can Find Additional Information
140
Index
    to Financial Statements
F-1
We are responsible for the information
contained in this prospectus. You should rely only on the information contained in this prospectus. We 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.
i
SUMMARY
This summary only highlights the more
detailed information appearing elsewhere in this prospectus. You should read this entire prospectus carefully, including the information
under the section of this prospectus entitled "Risk Factors" and our financial statements and the related notes included
elsewhere in this prospectus, before investing. Unless otherwise stated in this prospectus, or the context otherwise requires,
references to:
•
"common
stock" are to our Class A common stock and our Class B common stock, collectively;
•
"founder
shares" are to shares of our Class B common stock initially purchased by our sponsor in a private placement prior to
this offering, and the shares of our Class A common stock issued upon the conversion thereof as provided herein;
•
"initial
stockholders" are to our sponsor and any other holders of our founder shares prior to this offering (or their permitted
transferees);
•
"management"
or our "management team" are to our officers and directors;
•
"private
placement warrants" are to the warrants initially issued to our sponsor in a private placement simultaneously with the closing
of this offering;
•
"public
shares" are to shares of our Class A common stock sold as part of the units in this offering (whether they are purchased
in this offering or thereafter in the open market);
•
"public
stockholders" are to the holders of our public shares, including our initial stockholders and management team to the extent
our initial stockholders and/or members of our management team purchase public shares, provided that each initial stockholder's
and member of our management team's status as a "public stockholder" shall only exist with respect to such public
shares;
•
"public
warrants" are to our redeemable warrants sold as part of the units in this offering (whether they are purchased in this
offering or thereafter in the open market), to the private placement warrants if held by third parties other than our sponsor
(or permitted transferees), and to any private placement warrants issued upon conversion of working capital loans that are sold
to third parties that are not initial purchasers or executive officers or directors (or permitted transferees), in each case,
following the consummation of our initial business combination;
•
"SGAM"
are to Seaport Global Asset Management LLC, an SEC registered investment advisor affiliated with certain of our directors and
officers and our sponsor;
•
"sponsor" are to Seaport Global SPAC, LLC, a Delaware limited liability company affiliated with certain of our
directors and officers and SGAM;
•
"warrants"
are to our redeemable warrants, which includes the public warrants as well as the private placement warrants to the extent they
are no longer held by the initial purchasers of the private placement warrants or their permitted transferees; and
•
"we,"
 "us," "company" or "our company" are to Seaport Global Acquisition Corp.
Unless we tell you otherwise, the information
in this prospectus assumes that the underwriters will not exercise their over-allotment option.
1
Overview
We are a newly organized blank check company
incorporated as a Delaware corporation and formed for the purpose of effecting a merger, capital stock exchange, asset acquisition,
stock purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this
prospectus as our initial business combination. We have not selected any specific business combination target and we have not,
nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination target.
While we may pursue an initial business combination target in any stage of its corporate evolution or in any industry or sector,
we intend to focus our search on companies emerging from a reorganization or distressed situation.
Management
Team and Affiliates
Our management team is comprised of industry
experts, whom we believe are well-positioned to identify and evaluate distressed businesses that would benefit from their
experience of leading investment firms. We believe our management team offers extensive experience in distressed and restructuring
transactions.
Stephen C. Smith, Chairman and Chief
Executive Officer
Stephen C. Smith, our Chairman and Chief
Executive Officer, founded Seaport Global Asset Management LLC ("SGAM"), an SEC registered investment advisor and
a wholly-owned subsidiary of Seaport Global Holdings LLC ("SGH"), in August 2017. Mr. Smith currently serves as SGAM's
Chief Executive Officer and Chairman of its Investment Committee and oversees all of SGAM's investing and business activities.
In April 2001, Mr. Smith co-founded The Seaport Group LLC (currently known as SGH), which is a full-service, mid-sized independent
investment bank that offers capital markets advisory, sales, trading and research services. Prior to that, from December 1999
to March 2001, Mr. Smith was a managing director at Amroc Securities, LLC, a financial service firm, where he focused on distressed
sales and trading. In June 1991, he co-founded a distressed debt broker-dealer, Libra Investments, Inc., which was acquired by
U.S. Bancorp in January 1999. Mr. Smith began his career at Merrill Lynch in 1982 and from 1984 to 1988 he ran the taxable fixed
income trading desk for its unit trust department. In addition, Mr. Smith worked as a salesperson at S.N. Phelps & Co., a
financial management firm, from 1988 to 1989 and Jefferies & Company, a financial services company, from 1989 to 1991.
Michael Ring, Chief Financial Officer
Michael Ring, our Chief Financial Officer,
has been serving as Chief Financial Officer and Chief Compliance Officer at SGAM since February 2018 and Chief Financial Officer
of Seaport Specialty Lending LLC, a specialty finance company, since August 2019. Prior to joining SGAM, he served as Chief Financial
Officer and Chief Compliance Officer at Alta Fundamental Advisers, LLC, an SEC registered investment adviser, from May 2013 to
February 2018, where he was responsible for managing all finance, compliance, and operational functions, including financial reporting,
treasury & cash management, corporate finance, regulatory compliance matters and investor relations. Prior to that, Mr. Ring
worked as Chief Financial Officer and Chief Compliance Officer for Eastwind Global Partners, an asset manager company, from March
2012 to June 2013. From May 2004 to June 2012, he worked as controller, operations manager and Chief Compliance Officer at Restoration
Capital Management LLC, an SEC registered investment adviser. Prior to Restoration Capital Management, Mr. Ring worked for State
Street Bank and Sumitomo Trust and Banking in their securities lending departments, and at Scudder Kemper Investments as a fund
accountant in 1999.
Jay Burnham, Director Nominee
Jay Burnham, our director nominee, is a
member of SGAM's Investment Committee and the Managing Member of Sunset Way LLC, an asset management company. Mr. Burnham
previously served as a Portfolio Manager and Managing Member of Armory Advisors, LLC, a special situations and distressed debt
asset management firm that is affiliated with SGAM. Prior to joining Armory Advisors, LLC, Mr. Burnham was a portfolio manager
at Cypress Management, LLC, an investment management firm, from May 2003 to June 2004. From November 2001 to May 2003, Mr. Burnham
was an Investment Manager at Rocker Management, LLC, an investment management company, where he was responsible for distressed
debt and equity investments in companies in a variety of industries and participated as a major creditor in the restructuring
of XM Satellite Radio. From April 1999 to November 2001, he was a founder and an investment manager at Reprise Capital Partners,
LLC, a distressed debt investment firm. From March 1996 to March 1999, Mr. Burnham was an Investment Manager at DDJ Capital Management,
LLC, an investment management company. From January 1995 to February 1996, he was an investment analyst at Libra Investments,
Inc., a distressed debt broker-dealer founded by our Chairman. From June 1990 to November 1994, he was an investment manager at
Paul D. Sonz Partners, an investment management company. Mr. Burnham has acted as a director of a number of public and private
companies in turnaround situations, including acting as a director of Live Entertainment, Inc. (Nasdaq: LVE), a film distribution
company that was acquired by Bain Capital in 1997 and became Artisan Entertainment, Inc., Bally's Grand, Inc. (Nasdaq: BGLV),
a gaming and entertainment company that was acquired by Bally's Entertainment Corp., and New Millennium Homes, LLC, a California
based homebuilding company.
2
Shelley
                                         Greenhaus, Director Nominee
Shelley Greenhaus, our director nominee,
is the founder and President of Whippoorwill Associates, Inc., which manages investments in corporate reorganizations, liquidations
and other related activities and was founded in December 1990. Prior to that, from 1983 to 1990, he worked as a portfolio manager
at Oppenheimer & Co. Inc., a full-service brokerage firm and investment bank, with responsibility for distressed investments.
From 1981 to 1983
,
Mr. Greenhaus became a financial analyst and portfolio manager
for the William Rosenwald Family, a family office, where he was primarily involved in analyzing and managing investments involving
corporate reorganizations, liquidations and related special situations.
He began
his business career in 1978, working as a financial analyst at Loeb, Rhoades, Hornblower & Co., a brokerage company, where
he was primarily involved in analyzing risk arbitrage opportunities and distressed securities.
From January 1999 to October 2003, Mr. Greenhaus served on the board of directors of Barneys New York, Inc. (Nasdaq: BNNY),
a fashion retailer; from October 1998 to December 2004, he served on the board of director of Marvel Enterprises, Inc. (NYSE:
MVL), a content entertainment company; and from November 1996 to December 2004, he served on the board of directors of GWI Holding,
Inc. (Garden Way), a privately held power equipment company.  In October 2017, he joined the board of directors of Commercial
Furniture Group, Inc., a commercial furnishings company.
Jeremy Hedberg,
Director Nominee
Mr. Jeremy Hedberg, our director nominee,
has worked as a Partner, Co-Chief Investment Officer and Co-Head of Corporate and Traded Credit at Värde Partners, Inc. ("Värde"),
a global alternative investment advisor currently managing $14 billion that has invested over $70 billion since inception. He
joined Värde in November 1997 and has managed Värde's liquid investing activities globally and led Värde's
significant investments in the residential mortgage sector in the U.S. He has served on a number of boards of portfolio companies
owned by the Värde funds. He has also served on many official creditors' committees and a number of adhoc committees
to restructure companies in bankruptcy, including, but not limited to, Capmark Financial Group, Inc. a commercial finance company,
Chiquita Brands International, Inc., a global fruit and food company, and Flag Telecom Holdings Ltd, a provider of international
wholesale network services. Prior to joining Värde, Jeremy worked for Goldner Hawn Johnson & Morrison, a private equity
fund specializing in middle-market leveraged buyouts, from June 1996 to October 1997. He also previously worked for Wessels, Arnold
 & Henderson, a full-service investment bank specializing in high-growth companies, from May 1994 to June 1996.
Charles Yamarone,
Director Nominee
Mr.
Charles Yamarone, our director nominee, has served as the Chief Corporate Governance and Compliance Officer of Houlihan Lokey,
Inc. (NYSE: HLI), a global investment bank ("Houlihan Lokey"), since January 2016, where he advises senior management
on all aspects of Houlihan Lokey's corporate governance, compliance and internal audit, including Houlihan Lokey's
initial public offering in August 2015. From January 2014 to May 2015, he was a Managing Director in Houlihan Lokey's capital
markets group, where he had been a senior investment banker since November 2009.  Between 1991 and 2009, Mr. Yamarone was
a senior officer of Libra Securities, an institutional broker dealer, and he was involved in all areas of Libra Securities'
business, including capital markets, corporate finance, sales and trading, research, legal, compliance, and operations. 
From January 1996 to July 2020, Mr. Yamarone was a director of the El Paso Electric Company (NYSE: EE), where he served as chairman
of the audit committee, compensation committee and a member of the energy and resource committee. He was the Chairman of the Board
of El Paso Electric from February 2015 until July 2020. From October 2010 to June 2016, Mr. Yamarone served as a member of the
board of directors, chair of the compensation committee, a member of the executive committee and audit committee of United Continental
Holdings, Inc. (NYSE: UAL).  From February 1995 to October 2010, Mr. Yamarone served as a member of the board of directors
of Continental Airlines, Inc. (NYSE: CAL), where he was chairman of the human resources committee and a member of the corporate
governance committee.  He previously served as a director of other companies, including Bally's Grand, Inc.,
(Nasdaq:
BGLV), a gaming and entertainment company that was acquired by Bally's Entertainment Corp., LIVE Entertainment, Inc. (Nasdaq:
LVE), a film distribution company that was acquired by Bain Capital in 1997 and became Artisan Entertainment, Inc., Merry-Go-Round
Enterprises, Inc. (NYSE: MGRE), a national clothing retail chain, and Vagabond Inn Corporation, a hotel chain.
SGAM and SGH
We believe our affiliation with SGAM and
SGH and the significant financial and operational restructuring expertise of our team provide us with important competitive advantages
for sourcing, pursuing and evaluating an initial business combination within our target universe.
Stephen C. Smith, our Chairman and Chief
Executive Officer, founded SGAM, an SEC registered investment advisor and an alternative investment management firm, in August
2017. SGAM focuses on distressed, special situation and event-driven securities. Its investment objective is to achieve exceptional
risk-adjusted capital appreciation through investments in various securities of companies, which are in financial and/or legal
distress or have recently emerged from financial reorganizations or lawsuits. At the core of SGAM's strategy is deep-rooted,
credit- and equity-based fundamental analysis, leveraging the team's distressed, legal, bankruptcy and financial expertise.
SGAM believes that distressed securities can often be purchased at discounts to intrinsic value given the complexities surrounding
their restructuring. SGAM complements its liquid investment strategy with illiquid investments where it has taken an active approach
to managing such investments often through participation on credit committees, liquidating trusts and board positions.
Stephen C. Smith, our Chairman and Chief
Executive Officer, also founded SGH, the parent company of SGAM, in 2001. SGH is a global investment bank that has advised clients
for nearly twenty years on multi-industry distressed asset investing and capital markets advisory, sales, trading and research
services.
Past performance of our management team,
SGAM and SGH is not a guarantee either (i) of success with respect to any business combination we may consummate, or (ii) that
we will be able to identify a suitable candidate for our initial business combination. You should not rely on the historical performance
record of our management team or SGAM as indicative of our future performance. Our officers and directors have no experience with
blank check companies or special purpose acquisition companies. In addition, for a list of members of our management team and
entities for which a conflict of interest may or does exist between such persons and the company, as well as the priority that
such entity has with respect to performance of obligations and presentation of business opportunities to us, please refer to the
table and subsequent explanatory paragraph under "Management — Conflicts of Interest".
3
Business
                                         Strategy
Our business strategy is to identify and
complete our initial business combination with companies emerging from a reorganization or distressed situation.
The onset of COVID-19 has created an unprecedented
impact on the global economy. Certain industries may experience strain and have the ability to recover; however, others may experience
structural changes that will force companies to rethink how they conduct business. Nearly every industry is adjusting its operating
and financial paradigm to manage day-to-day business operations more effectively and safely in the current environment. Many of
these adjustments include operational and financial restructurings. The principal owners of post-restructuring companies typically
benefit from a significant reduction in liabilities, including lower financial indebtedness, employee benefit obligations, litigation
liabilities, contractual commitments and a generally lower operating cost structure. Such target companies often have underexploited
opportunities for continued growth as a result of prior under-investment. Further, based on our extensive experience, management
teams often exit restructurings with increased financial and operating discipline and with meaningful equity ownership. Given
the inefficiencies that exist in the post-reorganization market, we believe a business combination within our target universe
can be completed at a discount to its intrinsic value and publicly-traded peers.
Business Combination Criteria
Our business combination criteria will not
be limited to a particular industry or geographic sector, however, given the experience of our management team, we intend to focus
our search on companies with an enterprise value of approximately $400 million to $1 billion.
We have identified the following general
criteria and guidelines that we believe are consistent with our acquisition philosophy and our management's experience,
and that we believe are important in evaluating prospective business combination opportunities. We intend to use these criteria
and guidelines to evaluate business combination opportunities, but we may decide to consummate our initial business combination
with a target business that does not meet one or more of these criteria and guidelines.
·
Financial
                                         Health. We expect to seek out companies that have financially sound balance sheets but
                                         may have been troubled previously.
·
Extenuating
                                         Circumstance. We believe there are many companies – across industries – that
                                         were negatively impacted by the onset of COVID-19 pandemic, have restructured their businesses,
                                         changed their original business plans, streamlined their operations and are planning
                                         for a new phase of high growth. Other factors that may contribute to our potential target
                                         companies include previously excessive leverage, challenging industry conditions, material
                                         litigation, regulatory shifts, macroeconomic events, performance disruptions, lack of
                                         management execution or any combination thereof.
·
Leading
                                         Industry Market Position. We intend to pursue companies whose products or services have
                                         leading positions within their respective markets with sustainable competitive advantages
                                         and natural barriers to market entry.
·
Free
                                         Cash Flow. We will seek to acquire a company that has demonstrated or can demonstrate
                                         attractive operating margins that result in sustainable free cash flow.
·
Strong
                                         Management Team. We expect to seek out a company that has a management team that has
                                         a sustainable track record of managerial performance.
·
Favorable
                                         Industry Outlook. We will seek out target businesses that are operating in industries
                                         benefiting from unique market conditions or experiencing a favorable growth outlook.
                                         Our management team has experience investing in and operating companies across multiple
                                         industries.
·
Potential
                                         Acquisitions. We intend to evaluate companies that could benefit from strategic acquisitions
                                         to expand their market vertical.
·
Benefit
                                         from Public Company. We intend to acquire a business that can benefit from being publicly-traded
                                         and can effectively utilize broader access to capital.
These criteria are not intended to be exhaustive.
Any evaluation relating to the merits of a particular initial business combination may be based, to the extent relevant, on these
general guidelines as well as other considerations, factors and criteria that our management team may deem relevant. In the event
that we find an opportunity that has characteristics more compelling to us than the characteristics described above, we would
pursue such opportunity.
Competitive Strengths
We intend to leverage the following sources
of competitive strength in seeking to achieve our business strategy:
·
The
                                         distressed investing expertise of our management team, who have collectively participated
                                         in transactions with more than $100 billion of enterprise value.
·
Transaction
                                         expertise within our target enterprise value range.
4
·
Deep
                                         industry relationships that provide a substantial pipeline of acquisition opportunities,
                                         either proprietary or through affiliates.
·
The
                                         expertise of our management and board of directors as fiduciaries and directors of both
                                         asset managers investing in distressed securities and the companies in which they are
                                         invested.
·
Experience
                                         structuring complex capital markets transactions involving both private and public companies.
Our management team and professionals at
SGAM have extensive experience in identifying, investing in and partnering with operating companies that have completed a restructuring.
Over the past 20 years, since co-founding SGAM and its affiliates, Stephen C. Smith, our Chairman and Chief Executive Officer,
has been evaluating and investing in companies during the entirety of the re-organization process, including Chapter 11 bankruptcies
with notable expertise investing in post-reorganization companies. As a result, we expect to benefit from the expertise and extensive
network of contacts of both our management team and that of SGAM. The principals of SGAM and our management team have a significant
number of relationships across the restructuring industry, which includes operating executives, industry experts, investment bankers,
lawyers, consultants and advisors. We believe these relationships will provide us with acquisition opportunities across a variety
of industries. Our board of directors has significant leadership experience in driving growth and creating value in post-reorganization
companies, both public and private, ultimately leading to successful sales of such enterprises. We believe this collective experience
and success notably within the post-reorganization market will provide us an advantage with potential business combination targets
both pre- and post-transaction.
Our Acquisition, Investment and Post-Closing
Process
In evaluating prospective business combinations,
we expect to conduct a thorough due diligence review process that will encompass, among other things: an analysis of overall industry
and competitive conditions, a review of historical financial and operating data, meetings with incumbent management and employees
and interaction with third-parties who are industry experts of facilities and assets, discussion with customers and suppliers,
legal and other reviews as we deem appropriate. We will also utilize the expertise of our management team and our sponsor's
and its affiliates' resources in analyzing and evaluating operating plans, financial projections and determining the appropriate
return expectations given the risk profile of the target business as well as the suitability of the target to become a public
company.
We are not prohibited from pursuing an initial
business combination with a company that is affiliated with our sponsor, officers, directors or their affiliates, subject to certain
approvals and consents. In the event we seek to complete our initial business combination with a company that is affiliated with
our sponsor, officers, directors or their affiliates, we, or a committee of independent directors, will obtain an opinion from
an independent investment banking firm or another independent firm that commonly renders fairness opinions that our initial business
combination is fair to us from a financial point of view.
Initial Business Combination
Nasdaq rules require that we must complete
one or more business combinations having an aggregate fair market value of at least 80% of the value of the assets held in the
trust account (excluding the deferred underwriting commissions and taxes payable on the interest earned on the trust account)
at the time of our signing a definitive agreement in connection with our initial business combination. Our board of directors
will make the determination as to the fair market value of our initial business combination. If our board of directors is not
able to independently determine the fair market value of our initial business combination, we will obtain an opinion from an independent
investment banking firm or another independent entity that commonly renders valuation opinions with respect to the satisfaction
of such criteria. While we consider it unlikely that our board of directors will not be able to make an independent determination
of the fair market value of our initial business combination, it may be unable to do so if it is less familiar or experienced
with the business of a particular target or if there is a significant amount of uncertainty as to the value of a target's
assets or prospects. Additionally, pursuant to Nasdaq rules, any initial business combination must be approved by a majority of
our independent directors.
We anticipate structuring our initial business
combination either (i) in such a way 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, or (ii) in such a way so that
the post-transaction company owns or acquires less than 100% of such interests or assets of the target business in order to meet
certain objectives of the target management team or stockholders, or for other reasons. However, we will only complete an initial
business combination if the post-transaction company owns or acquires 50% or more of the outstanding voting securities of the
target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment
company under the Investment Company Act of 1940, as amended, or the "Investment Company Act". Even if the post-transaction
company owns or acquires 50% or more of the voting securities of the target, our stockholders prior to the initial business combination
may collectively own a minority interest in the post-transaction company, depending on valuations ascribed to the target and us
in the initial business combination. 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 taken into account
for purposes of Nasdaq's 80% fair market value test. If the initial business combination involves more than one target business,
the 80% fair market value test will be based on the aggregate value of all of the transactions and we will treat the target businesses
together as the initial business combination for purposes of a tender offer or for seeking stockholder approval, as applicable.
5
Our
                                         Business Combination Process
Members of our management team may directly
or indirectly own our founders shares, common stock and/or private placement warrants following this offering, and, accordingly,
may have a conflict of interest in determining whether a particular target business is an appropriate business with which to effectuate
our initial business combination. Further, each of our officers and directors may have a conflict of interest with respect to
evaluating a particular business combination if the retention or resignation of any such officers and directors were to be included
by a target business as a condition to any agreement with respect to our initial business combination.
Each of our officers and directors presently
has, and any of them in the future may have additional, fiduciary or contractual obligations to other entities pursuant to which
such officer or director is or will be required to present a business combination opportunity. Accordingly, if any of our officers
or directors becomes aware of a business combination opportunity which is suitable for an entity to which he or she has then-current
fiduciary or contractual obligations to present the opportunity to such entity, he or she will honor his or her fiduciary or contractual
obligations to present such opportunity to such entity. We believe, however, that the fiduciary duties or contractual obligations
of our officers or directors will not materially affect our ability to complete our initial business combination, as we believe
any such opportunities presented would be smaller than what we are interested in, in different fields than what we would be interested
in, or that our obligations are to entities that are not themselves in the business of engaging in business combinations. Our
amended and restated certificate of incorporation will provide that we renounce our interest in any corporate opportunity offered
to any director or officer unless such opportunity is expressly offered to such person solely in his or her capacity as a director
or officer of our company and such opportunity is one we are legally and contractually permitted to undertake and would otherwise
be reasonable for us to pursue, and to the extent the director or officer is permitted to refer that opportunity to us without
violating another legal obligation.
Our officers and directors may become an
officer or director of another special purpose acquisition company with a class of securities intended to be registered under
the Securities Exchange Act of 1934, as amended, or the Exchange Act, even before we have entered into a definitive agreement
regarding our initial business combination.
Corporate Information
Our executive offices are located at 360
Madison Avenue, 20th Floor, New York, NY 10017 and our telephone number is 212-616-7700.
We are 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"). 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 independent registered public accounting firm attestation
requirements of Section 404 of the Sarbanes-Oxley Act of 2002 (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.
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 Class A 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 securities during the prior three-year period.
                                         References herein to emerging growth company will have the meaning associated with it
                                         in the JOBS Act.
Additionally, we are a "smaller reporting
company" as defined in Rule 10(f)(1) of Regulation S-K. Smaller reporting companies may take advantage of certain reduced
disclosure obligations, including, among other things, providing only two years of audited financial statements. We will remain
a smaller reporting company until the last day of the fiscal year in which (1) the market value of our common stock held
by non-affiliates exceeds $250 million as of the prior June 30
th
, or (2) our annual revenues exceed
$100 million during such completed fiscal year and the market value of our common stock held by non-affiliates exceeds
$700 million as of the prior June 30
th
.
THE OFFERING
In deciding 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 of this prospectus entitled
 "Risk Factors."
Securities
    offered
12,500,000
    units, at $10.00 per unit, each unit consisting of:
•   one
    share of Class A common stock; and
•   one-half
    of one redeemable warrant.
Proposed
    Nasdaq symbols
Units:
                                         "SGAMU"
Class A Common Stock: "SGAM"
Warrants: "SGAMW"
Trading
    commencement and separation of Class A common stock and warrants
The
    units will begin trading on or promptly after the date of this prospectus. We expect the Class A common stock and warrants
    comprising the units will begin separate trading on the 52
nd
day following the date of this prospectus unless B.
    Riley Securities, Inc. informs us of its decision to allow earlier separate trading, subject to our having filed the Current
    Report on Form 8-K described below and having issued a press release announcing when such separate trading will begin.
    Once the shares of Class A common stock and warrants commence separate trading, holders will have the option to continue
    to hold units or separate their units into the component securities. Holders will need to have their brokers contact our transfer
    agent in order to separate the units into shares of Class A common stock and warrants. No fractional warrants will be
    issued upon separation of the units and only whole warrants will trade. Accordingly, unless you purchase at least two units,
    you will not be able to receive or trade a whole warrant.
In
    no event will the Class A common stock and warrants be traded separately until we have filed a Current Report on Form 8-K
    with the SEC containing an audited balance sheet reflecting our receipt of the gross proceeds at the closing of this offering.
    We will file the Current Report on Form 8-K promptly after the closing of this offering, which is anticipated to take
    place three business days from the date of this prospectus. If the underwriters' over-allotment option is exercised
    following the initial filing of such Current Report on Form 8-K, a second or amended Current Report on Form 8-K
    will be filed to provide updated financial information to reflect the exercise of the underwriters' over-allotment option.
7
Units:
Number
    outstanding before this offering
0
Number
    outstanding after this offering
12,500,000
(1)
Common
    stock:
Number
    outstanding before this offering
3,593,750
    shares of Class B common stock
(2)
Number
    outstanding after this offering
12,500,000
    shares of Class A common stock and 3,125,000 Class B common stock
(1)(3)
Redeemable
    Warrants:
Number
    of private placement warrants to be sold in a private placement simultaneously with this offering
4,250,000
Number
    of warrants to be outstanding after this offering and the private placement
10,500,000
(1)
Exercisability
Each
                                         whole warrant is exercisable to purchase one share of our Class A common stock and
                                         only whole warrants are exercisable.
We structured each unit to contain one-half of one
        redeemable warrant, with each whole warrant exercisable for one share of Class A common stock, as compared to units
        issued by some other similar blank check companies which contain whole warrants exercisable for one whole share, in order
        to reduce the dilutive effect of the warrants upon completion of an initial business combination as compared to units
        that each contain a warrant to purchase one whole share, thus making us, we believe, a more attractive initial business
        combination partner for target businesses.
Exercise
    price
$11.50
    per share, subject to adjustment as described herein. In addition, if (x) we issue additional shares of Class A
    common stock or equity-linked securities for capital raising purposes in connection with the closing of our initial business
    combination at an issue price or effective issue price of less than $9.20 per share of Class A common stock (with such
    issue price or effective issue price to be determined in good faith by our board of directors and, in the case of any such
    issuance to our sponsor or its affiliates, without taking into account any founder shares held by our sponsor or such affiliates,
    as applicable, prior to such issuance) (the "Newly Issued Price"), (y) the aggregate gross proceeds from
    such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of our
    initial business combination on the date of the consummation of our initial business combination (net of redemptions), and
    (z) the volume weighted average trading price of our Class A common stock during the 20 trading day period starting
    on the trading day prior to the day on which we consummate our initial business combination (such price, the "Market
    Value") is below $9.20 per share, then the exercise price of the warrants will be adjusted (to the nearest cent) to
    be equal to 115% of the greater of the Market Value and the Newly Issued Price, and the $18.00 per share redemption trigger
    price described below under "Redemption of warrants" will be adjusted (to the nearest cent) to be equal to 180%
    of the greater of the Market Value and the Newly Issued Price.
(1)
Assumes no exercise
                                         of the underwriters' over-allotment option and the forfeiture by our sponsor of
                                         468,750 founder shares.
(2)
Includes up
                                         to 468,750 shares that are subject to forfeiture by our sponsor depending on the extent
                                         to which the underwriters' over-allotment option is exercised.
(3)
Comprised of
                                         12,500,000 shares of Class A common stock and 3,125,000 shares of Class B common
                                         stock (or founder shares). The Class B common stock is convertible into shares of
                                         our Class A common stock on a one-for-one basis, subject to adjustment as described
                                         below adjacent to the caption "Founder shares conversion and anti-dilution rights."
8
Exercise
        period
The
    warrants will become exercisable on the later of:
•   30 days
    after the completion of our initial business combination, or
•   12
    months from the closing of this offering;
provided
    in each case that we have an effective registration statement under the Securities Act covering the shares of Class A
    common stock issuable upon exercise of the warrants and a current prospectus relating to them is available and such shares
    are registered, qualified or exempt from registration under the securities or blue sky laws of the state of residence of the
    holder (or we permit holders to exercise their warrants on a cashless basis under the circumstances specified in the warrant
    agreement).
We
    are not registering the shares of Class A common stock issuable upon exercise of the warrants at this time. However,
    we have agreed that as soon as practicable, but in no event later than 15 business days after the closing of our initial business
    combination, we will use our best efforts to file with the SEC a registration statement covering the shares of Class A
    common stock issuable upon exercise of the warrants, to cause such registration statement to become effective and to maintain
    a current prospectus relating to those shares of Class A common stock until the warrants expire or are redeemed, as specified
    in the warrant agreement. If a registration statement covering the shares of Class A common stock issuable upon exercise
    of the warrants is not effective by the 60
th
business day after the closing of our initial business combination,
    warrantholders may, until such time as there is an effective registration statement and during any period when we will have
    failed to maintain an effective registration statement, exercise warrants on a "cashless basis" in accordance
    with Section 3(a)(9) of the Securities Act or another exemption. Notwithstanding the above, if our shares of Class A
    common stock are at the time of any exercise of a warrant not listed on a national securities exchange such that they satisfy
    the definition of a "covered security" under Section 18(b)(1) of the Securities Act, we may, at our option, require
    holders of public warrants who exercise their warrants to do so on a "cashless basis" in accordance with Section
    3(a)(9) of the Securities Act and, in the event we so elect, we will not be required to file or maintain in effect a registration
    statement, and in the event we do not so elect, we will use our best efforts to register or qualify the shares under applicable
    blue sky laws to the extent an exemption is not available. If that exemption, or another exemption, is not available, holders
    will not be able to exercise their warrants on a cashless basis.
The
    warrants will expire at 5:00 p.m., New York City time, five years after the completion of our initial business combination
    or earlier upon redemption or liquidation. On the exercise of any warrant, the warrant exercise price will be paid directly
    to us and not placed in the trust account.
Redemption
    of warrants
Once
    the warrants become exercisable, we may redeem the outstanding warrants (except as described herein with respect to the private
    placement warrants):
•   in
                                         whole and not in part;
•   at
        a price of $0.01 per warrant;
•  upon
        not less than 30 days' prior written notice of redemption (the "30-day redemption period") to each
        warrantholder; and
•  if,
        and only if, the reported last sale price of the Class A common stock equals or exceeds $18.00 per share (as adjusted
        for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading
        day period ending three business days before we send the notice of redemption to the warrantholders.
We
    will not redeem the warrants unless a registration statement under the Securities Act covering the shares of Class A
    common stock issuable upon exercise of the warrants is effective and a current prospectus relating to those shares of Class A
    common stock is available throughout the 30-day redemption period, except if the warrants may be exercised on a cashless basis
    and such cashless exercise is exempt from registration under the Securities Act. If and when the warrants become redeemable
    by us, we may not exercise our redemption right if the issuance of shares of common stock upon exercise of the warrants is
    not exempt from registration or qualification under applicable state blue sky laws or we are unable to effect such registration
    or qualification. We will use our best efforts to register or qualify such shares of common stock under the blue sky laws
    of the state of residence in those states in which the warrants were offered by us in this offering.
9
If
                                         we call the warrants for redemption as described above, our management will have the
                                         option to require all holders that wish to exercise warrants to do so on a "cashless
                                         basis." In determining whether to require all holders to exercise their warrants
                                         on a "cashless basis," our management will consider, among other factors,
                                         our cash position, the number of warrants that are outstanding and the dilutive effect
                                         on our stockholders of issuing the maximum number of shares of Class A common stock
                                         issuable upon the exercise of our warrants. In such event, each holder would pay the
                                         exercise price by surrendering the warrants for that number of shares of Class A
                                         common stock equal to the quotient obtained by dividing (x) the product of the number
                                         of shares of Class A common stock underlying the warrants, multiplied by the difference
                                         between the exercise price of the warrants and the "fair market value" (defined
                                         below) by (y) the fair market value. The "fair market value" shall mean
                                         the average reported last sale price of the Class A common stock for the 10 trading
                                         days ending on the third trading day prior to the date on which the notice of redemption
                                         is sent to the holders of warrants. Please see the section of this prospectus entitled
                                         "Description of Securities — Redeemable Warrants — Public
                                         Stockholders' Warrants" for additional information.
None of the private placement warrants will be redeemable
        by us so long as they are held by the sponsor or its permitted transferees.
Founder
    shares
In
    July 2020, our sponsor purchased 3,593,750 founder shares for an aggregate purchase price of $25,000, or approximately $0.007
    per share. Prior to the initial investment in the company of $25,000 by our sponsor, the company had no assets, tangible or
    intangible. The per share purchase price of the founder shares was determined by dividing the amount of cash contributed to
    the company by the aggregate number of founder shares issued. The number of founder shares issued was determined based on
    the expectation that the founder shares would represent 20% of the outstanding shares after this offering. As such, our initial
    stockholders will collectively own 20% of our issued and outstanding shares after this offering (assuming they do not purchase
    any units in this offering). Neither our sponsor nor any of our officers or directors have expressed an intention to purchase
    any units in this offering. Up to 468,750 founder shares will be subject to forfeiture by our sponsor depending on the extent
    to which the underwriters' over-allotment option is exercised so that our initial stockholders will maintain ownership
    of 20% of our common stock after this offering. We will effect a stock dividend or share contribution prior to this offering
    should the size of the offering change, in order to maintain such ownership percentage.
The
    founder shares are identical to the shares of Class A common stock included in the units being sold in this offering,
    except that:
•  the
    founder shares are shares of Class B common stock that automatically convert into shares of our Class A common stock
    at the time of our initial business combination on a one-for-one basis, subject to adjustment pursuant to certain anti-dilution
    rights, as described herein;
•   the
    founder shares are subject to certain transfer restrictions, as described in more detail below;
10
•  our
    sponsor, officers and directors have entered into a letter agreement with us, pursuant to which they have agreed to (i) waive
    their redemption rights with respect to their founder shares and public shares in connection with the completion of our initial
    business combination, (ii) waive their redemption rights with respect to their founder shares and public shares in connection
    with a stockholder vote to approve an amendment to our amended and restated certificate of incorporation (A) to modify
    the substance or timing of our obligation to offer redemption rights in connection with any proposed initial business combination
    or to redeem 100% of our public shares if we do not complete our initial business combination within 24 months from the closing
    of this offering or (B) with respect to any other provision relating to stockholders' rights or pre-initial business
    combination activity, (iii) waive their rights to liquidating distributions from the trust account with respect to their
    founder shares if we fail to complete our initial business combination within 24 months from the closing of this offering,
    although they will be entitled to liquidating distributions from the trust account with respect to any public shares they
    hold if we fail to complete our initial business combination within the prescribed time frame and (iv) not sell any of
    their founder shares or public shares to us in any tender offer we undertake in connection with a proposed initial business
    combination;
•  pursuant
    to the letter agreement, our sponsor, officers and directors have agreed to vote any founder shares held by them and any public
    shares purchased during or after this offering (including in open market and privately negotiated transactions) in favor of
    our initial business combination. If we submit our initial business combination to our public stockholders for a vote, we
    will complete our initial business combination only if a majority of the outstanding shares of common stock voted are voted
    in favor of the initial business combination. As a result, in addition to our initial stockholders' founder shares,
    we would need only 4,687,501, or 37.5%, of the 12,500,000 public shares sold in this offering to be voted in favor of an initial
    business combination (assuming all outstanding shares are voted and our sponsor, officers and directors do not purchase any
    units in or after this offering) in order to have our initial business combination approved (assuming the over-allotment option
    is not exercised); and
•   the
    founder shares are entitled to registration rights.
Transfer
    restrictions on founder shares
Our
    initial stockholders have agreed not to transfer, assign or sell any of their founder shares until the earlier to occur of:
    (A) one year after the completion of our initial business combination or (B) subsequent to our initial business
    combination, (x) if the last sale price of our Class A common stock equals or exceeds $12.00 per share (as adjusted
    for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading
    day period commencing at least 150 days after our initial business combination, or (y) the date on which we complete
    a liquidation, merger, capital stock exchange or other similar transaction that results in all of our stockholders having
    the right to exchange their shares of common stock for cash, securities or other property (except as described herein under
    the section of this prospectus entitled "Principal Stockholders — Restrictions on Transfers of Founder Shares
    and Private Placement Warrants"). Any permitted transferees will be subject to the same restrictions and other agreements
    of our initial stockholders with respect to any founder shares. We refer to such transfer restrictions throughout this prospectus
    as the lock-up.
11
Founder
    shares conversion and anti-dilution rights
The
    shares of Class B common stock will automatically convert into shares of our Class A common stock at the time of
    our initial business combination on a one-for-one basis, subject to adjustment for stock splits, stock dividends, reorganizations,
    recapitalizations and the like, and subject to further adjustment as provided herein. In the case that additional shares of
    Class A common stock, or equity-linked securities, are issued or deemed issued in excess of the amounts offered in this
    prospectus and related to the closing of the initial business combination, the ratio at which shares of Class B common
    stock shall convert into shares of Class A common stock will be adjusted (unless the holders of a majority of the outstanding
    shares of Class B common stock agree to waive such adjustment with respect to any such issuance or deemed issuance) so
    that the number of shares of Class A common stock issuable upon conversion of all shares of Class B common stock
    will equal, in the aggregate, on an as-converted basis, 20% of the sum of the total number of all shares of common stock outstanding
    upon the completion of this offering plus all shares of Class A common stock and equity-linked securities issued or deemed
    issued in connection with the initial business combination (excluding any shares or equity-linked securities issued, or to
    be issued, to any seller in the initial business combination and any private placement-equivalent warrants issued to our sponsor
    or its affiliates upon conversion of loans made to us). Holders of founder shares may also elect to convert their shares of
    Class B common stock into an equal number of shares of Class A common stock, subject to adjustment as provided above,
    at any time. The term "equity-linked securities" refers to any debt or equity securities that are convertible,
    exercisable or exchangeable for shares of Class A common stock issued in a financing transaction in connection with our
    initial business combination, including but not limited to a private placement of equity or debt. Securities could be "deemed
    issued" for purposes of the conversion rate adjustment if such shares are issuable upon the conversion or exercise of
    convertible securities, warrants or similar securities.
Voting
    Rights
Holders
    of the Class A common stock and holders of the Class B common stock will vote together as a single class on all
    matters submitted to a vote of our stockholders, with each share of common stock entitling the holder to one vote.
Private
    placement warrants
Our
    sponsor has committed, pursuant to a written agreement, to purchase an aggregate of 4,250,000 private placement warrants (or
    4,625,000 private placement warrants if the over-allotment option is exercised in full) at a price of $1.00 per warrant ($4,250,000
    in the aggregate, or $4,625,000 if the over-allotment option is exercised in full), each exercisable to purchase one share
    of our Class A common stock at $11.50 per share, in a private placement that will occur simultaneously with the closing
    of this offering. Each private placement warrant entitles the holder thereof to purchase one share of our Class A common
    stock at a price of $11.50 per share. A portion of the purchase price of the private placement warrants will be added to the
    proceeds from this offering to be held in the trust account such that at the time of closing $125.0 million (or $143.75 million
    if the underwriters exercise their over-allotment option in full) will be held in the trust account. If we do not complete
    our initial business combination within 24 months from the closing of this offering, the proceeds from the sale of the private
    placement warrants held in the trust account will be used to fund the redemption of our public shares (subject to the requirements
    of applicable law) and the private placement warrants will expire worthless.
The
    private placement warrants will be non-redeemable and exercisable on a cashless basis so long as they are held by the sponsor
    or its permitted transferees. If the private placement warrants are held by holders other than the sponsor or its permitted
    transferees, the private placement warrants will be redeemable by us and exercisable by the holders on the same basis as the
    warrants included in the units being sold in this offering.
12
Transfer
    restrictions on private placement warrants
The
    private placement warrants (including the Class A common stock issuable upon exercise of the private placement warrants)
    will not be transferable, assignable or salable until 30 days after the completion of our initial business combination
    (except as described under the section of this prospectus entitled "Principal Stockholders — Restrictions
    on Transfers of Founder Shares and Private Placement Warrants").
Cashless
    exercise of private placement warrants
If
    holders of private placement warrants elect to exercise them on a cashless basis, they would pay the exercise price by surrendering
    their warrants for that number of shares of Class A common stock equal to the quotient obtained by dividing (x) the
    product of the number of shares of Class A common stock underlying the warrants, multiplied by the difference between
    the exercise price of the warrants and the "fair market value" (defined below) by (y) the fair market value.
    The "fair market value" shall mean the average reported last sale price of the Class A common stock for the
    10 trading days ending on the third trading day prior to the date on which the notice of warrant exercise is sent to the warrant
    agent. The reason that we have agreed that these warrants will be exercisable on a cashless basis so long as they are held
    by the sponsor or its permitted transferees is because it is not known at this time whether they will be affiliated with us
    following an initial business combination. If they remain affiliated with us, their ability to sell our securities in the
    open market will be significantly limited.
We
    expect to have policies in place that prohibit insiders from selling our securities except during specific periods of time.
    Even during such periods of time when insiders will be permitted to sell our securities, an insider cannot trade in our securities
    if he or she is in possession of material non-public information. Accordingly, unlike public stockholders who could sell the
    shares of Class A common stock issuable upon exercise of the warrants freely in the open market, the insiders could be
    significantly restricted from doing so. As a result, we believe that allowing the holders to exercise such warrants on a cashless
    basis is appropriate.
Proceeds
    to be held in trust account
Nasdaq rules provide that at least 90% of the gross
    proceeds from this offering and the sale of the private placement warrants be deposited in a trust account. Of the net proceeds
    of this offering and the sale of the private placement warrants, $125,000,000, or $10.00 per unit ($143,750,000, or $10.00
    per unit, if the underwriters' over-allotment option is exercised in full) will be placed into a trust account in the
    United States at J.P. Morgan Chase Bank, N.A., with Continental Stock Transfer & Trust Company acting as trustee.
    These proceeds include $4,375,000 (or $5,031,250 if the over-allotment option is exercised in full) in deferred underwriting
    commissions.
Except
    with respect to interest earned on the funds held in the trust account that may be released to us to pay our tax obligations
    (less up to $100,000 of interest to pay dissolution expenses), the proceeds from this offering and the sale of the private
    placement warrants will not be released from the trust account until the earliest of (a) the completion of our initial
    business combination, (b) the redemption of any public shares properly submitted in connection with a stockholder vote
    to amend our amended and restated certificate of incorporation (i) to modify the substance or timing of our obligation
    to redeem 100% of our public shares if we do not complete our initial business combination within 24 months from the closing
    of this offering or (ii) with respect to any other provision relating to stockholders' rights or pre-business combination
    activity, and (c) the redemption of our public shares if we are unable to complete our initial business combination within
    24 months from the closing of this offering, subject to applicable law. The proceeds deposited in the trust account could
    become subject to the claims of our creditors, if any, which could have priority over the claims of our public stockholders.
13
Anticipated
    expenses and funding sources
Except
    as described above with respect to the payment of taxes, unless and until we complete our initial business combination, no
    proceeds held in the trust account will be available for our use. The proceeds held in the trust account will be invested
    only in U.S. government securities 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. We
    will disclose in each quarterly and annual report filed with the SEC prior to our initial business combination whether the
    proceeds deposited in the trust account are invested in U.S. government treasury obligations or money market funds or a combination
    thereof. Based upon current interest rates, we expect the trust account to generate approximately $625,000 of interest annually
    assuming an interest rate of 0.5% per year; however, we can provide no assurances regarding this amount. Unless and until
    we complete our initial business combination, we may pay our expenses only from:
•  the
                                         net proceeds of this offering and the sale of the private placement warrants not held
                                         in the trust account, which will be approximately $1,000,000 in working capital after
                                         the payment of approximately $750,000 in expenses relating to this offering; and
·
any
                                         loans or additional investments from our sponsor, members of our management team or their
                                         affiliates or other third parties, although they are under no obligation to advance funds
                                         or invest in us, and provided that any such loans will not have any claim on the proceeds
                                         held in the trust account unless such proceeds are released to us upon completion of
                                         an initial business combination.
Conditions
    to completing our initial business combination
Nasdaq
    rules require that we must complete one or more business combinations having an aggregate fair market value of at least 80%
    of the value of the assets held in the trust account (excluding the deferred underwriting commissions and taxes payable on
    the interest earned on the trust account) at the time of our signing a definitive agreement in connection with our initial
    business combination. Our board of directors will make the determination as to the fair market value of our initial business
    combination. If our board of directors is not able to independently determine the fair market value of our initial business
    combination, we will obtain an opinion from an independent investment banking firm or another independent entity that commonly
    renders valuation opinions with respect to the satisfaction of such criteria. While we consider it unlikely that our board
    of directors will not be able to make an independent determination of the fair market value of our initial business combination,
    it may be unable to do so if it is less familiar or experienced with the business of a particular target or if there is a
    significant amount of uncertainty as to the value of a target's assets or prospects. There is no limitation on our ability
    to raise funds privately or through loans in connection with our initial business combination. Additionally, pursuant to Nasdaq
    rules, any initial business combination must be approved by a majority of our independent directors.
We
    anticipate structuring our initial business combination either (i) in such a way 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, or (ii) in such a way so that the post-transaction company owns or acquires less than 100% of such interests
    or assets of the target business in order to meet certain objectives of the target management team or stockholders, or for
    other reasons. However, we will only complete an initial business combination if the post-transaction company owns or acquires
    50% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target
    sufficient for it not to be required to register as an investment company under the Investment Company Act.
14
Even
    if the post-transaction company owns or acquires 50% or more of the voting securities of the target, our stockholders prior
    to the initial business combination may collectively own a minority interest in the post-transaction company, depending on
    valuations ascribed to the target and us in the initial business combination. 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 taken into account for purposes of Nasdaq's 80% fair market value test. If
    the initial business combination involves more than one target business, the 80% fair market value test will be based on the
    aggregate value of all of the transactions and we will treat the target businesses together as the initial business combination
    for purposes of a tender offer or for seeking stockholder approval, as applicable.
Permitted
    purchases of public shares and public warrants by our affiliates
If
    we seek stockholder approval of our initial business combination and we do not conduct redemptions in connection with our
    initial business combination pursuant to the tender offer rules, our sponsor, initial stockholders, directors, officers, advisors
    or their affiliates may purchase shares or public warrants in privately negotiated transactions or in the open market either
    prior to or following the completion of our initial business combination. There is no limit on the number of shares our initial
    stockholders, directors, officers, advisors or their affiliates may purchase in such transactions, subject to compliance with
    applicable law and Nasdaq rules. 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. If they engage in such transactions, they will
    not make any such purchases when they are in possession of any material nonpublic information not disclosed to the seller
    or if such purchases are prohibited by Regulation M under the Securities Exchange Act of 1934, as amended (the "Exchange
    Act"). 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. Any such purchases will be reported pursuant to Section 13 and Section 16 of the Exchange
    Act to the extent such purchasers are subject to such reporting requirements. None of the funds held in the trust account
    will be used to purchase shares or public warrants in such transactions prior to completion of our initial business combination.
    See "Proposed Business — Permitted purchases of our securities" for a description of how our sponsor,
    initial stockholders, directors, officers, advisors or any of their affiliates will select which stockholders to purchase
    securities from in any private transaction.
15
The
    purpose of any such purchases of shares could be to vote such shares in favor of the initial business combination and thereby
    increase the likelihood of obtaining stockholder approval of the initial business combination or to satisfy a closing condition
    in an agreement with a target that requires us to have a minimum net worth or a certain amount of cash at the closing of our
    initial business combination, where it appears that such requirement would otherwise not be met. The purpose of any such purchases
    of public warrants could be to reduce the number of public warrants outstanding or to vote such warrants on any matters submitted
    to the warrantholders for approval in connection with our initial business combination. Any such purchases of our securities
    may result in the completion of our initial business combination that may not otherwise have been possible. In addition, if
    such purchases are made, the public "float" of our shares of Class A common stock or warrants 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.
Redemption
    rights for public stockholders upon completion of our initial business combination
We
    will provide our public stockholders with the opportunity to redeem all or a portion of their public shares upon the completion
    of our initial business combination at a per-share price, payable in cash, equal to the aggregate amount then on deposit in
    the trust account as of two business days prior to the consummation of our initial business combination, including interest
    earned on the funds held in the trust account and not previously released to us to pay our taxes, divided by the number of
    then outstanding public shares, subject to the limitations described herein. The amount in the trust account is initially
    anticipated to be $10.00 per public share. The per-share amount we will distribute to investors who properly redeem their
    shares will not be reduced by the deferred underwriting commissions we will pay to the underwriters. The redemption rights
    will include the requirement that a beneficial holder must identify itself in order to validly redeem its shares. There will
    be no redemption rights upon the completion of our initial business combination with respect to our warrants. Our sponsor,
    officers and directors have entered into a letter agreement with us, pursuant to which they have agreed to waive their redemption
    rights with respect to any founder shares held by them and any public shares they may acquire during or after this offering
    in connection with the completion of our initial business combination or otherwise.
We
    may require our public stockholders seeking to exercise their redemption rights, whether they are record holders or hold their
    shares in "street name," to either tender their certificates to our transfer agent prior to a date set forth in
    the proxy materials mailed to such holders or to deliver their shares to the transfer agent electronically using the Depository
    Trust Company's DWAC (Deposit/Withdrawal At Custodian) System, at the holder's option. The tender offer or proxy
    materials, as applicable, that we will furnish to holders of our public shares in connection with our initial business combination
    will indicate whether we are requiring public stockholders to satisfy such delivery requirements.
Manner
    of conducting redemptions
We
    will provide our public stockholders with the opportunity to redeem all or a portion of their public shares upon the completion
    of our initial business combination either (i) in connection with a stockholder meeting called to approve the initial
    business combination or (ii) by means of a tender offer.
16
The
    decision as to whether we will seek stockholder approval of a proposed initial business combination or conduct a tender offer
    will be made by us, solely in our discretion, and will be based on a variety of factors such as the timing of the transaction
    and whether the terms of the transaction would require us to seek stockholder approval under the law or stock exchange listing
    requirements. Under Nasdaq rules, asset acquisitions and stock purchases would not typically require stockholder approval
    while direct mergers with our company where we do not survive and any transactions where we issue more than 20% of our outstanding
    common stock or seek to amend our amended and restated certificate of incorporation would require stockholder approval. We
    may conduct redemptions without a stockholder vote pursuant to the tender offer rules of the SEC unless stockholder approval
    is required by law or stock exchange listing requirements or we choose to seek stockholder approval for business or other
    legal reasons. So long as we obtain and maintain a listing for our securities on Nasdaq, we will be required to comply with
    such rules.
If
    a stockholder vote is not required and we do not decide to hold a stockholder vote for business or other legal reasons, we
    will, pursuant to our amended and restated certificate of incorporation:
•  conduct
    the redemptions pursuant to Rule 13e-4 and Regulation 14E of the Exchange Act, which regulate issuer tender offers, and
•  file
    tender offer documents with the SEC prior to completing our initial business combination which contain substantially the same
    financial and other information about the initial business combination and the redemption rights as is required under Regulation
    14A of the Exchange Act, which regulates the solicitation of proxies.
Such
    provisions may be amended if approved by holders of 65% of our common stock entitled to vote thereon.
Whether
    or not we maintain our registration under the Exchange Act or our listing on Nasdaq, we will provide our public stockholders
    with the opportunity to redeem their public shares by one of the two methods listed above. Upon the public announcement of
    our initial business combination, if we elect to conduct redemptions pursuant to the tender offer rules, we or our sponsor
    will terminate any plan established in accordance with Rule 10b5-1 to purchase shares of our Class A common stock
    in the open market, in order to comply with Rule 14e-5 under the Exchange Act.
In
    the event we conduct redemptions pursuant to the tender offer rules, our offer to redeem will remain open for at least 20
    business days, in accordance with Rule 14e-1(a) under the Exchange Act, and we will not be permitted to complete our
    initial business combination until the expiration of the tender offer period. In addition, we will not redeem any public shares
    unless our net tangible assets will be at least $5,000,001 either immediately prior to or upon consummation of our initial
    business combination and after payment of underwriters' fees and commissions (so that we are not subject to the SEC's
    "penny stock" rules) or any greater net tangible asset or cash requirement which may be contained in the agreement
    relating to our initial business combination. If public stockholders tender more shares than we have offered to purchase,
    we will withdraw the tender offer and not complete the initial business combination.
If,
    however, stockholder approval of the transaction is required by law or stock exchange listing requirements, or we decide to
    obtain stockholder approval for business or other legal reasons, we will:
•  conduct
    the redemptions in conjunction with a proxy solicitation pursuant to Regulation 14A of the Exchange Act, which regulates the
    solicitation of proxies, and not pursuant to the tender offer rules, and
•  file
    proxy materials with the SEC.
17
If
    we seek stockholder approval, we will complete our initial business combination only if a majority of the outstanding shares
    of common stock voted are voted in favor of the initial business combination. A quorum for such meeting will consist of the
    holders present in person or by proxy of shares of outstanding capital stock of the company representing a majority of the
    voting power of all outstanding shares of capital stock of the company entitled to vote at such meeting. Our initial stockholders
    will count towards this quorum and, pursuant to the letter agreement, our sponsor, officers and directors have agreed to vote
    their founder shares and any public shares purchased during or after this offering (including in open market and privately
    negotiated transactions) in favor of our initial business combination. For purposes of seeking approval of the majority of
    our outstanding shares of common stock voted, non-votes will have no effect on the approval of our initial business combination
    once a quorum is obtained. As a result, in addition to our initial stockholders' founder shares, we would need only
    4,687,501, or 37.5%, of the 12,500,000 public shares sold in this offering to be voted in favor of an initial business combination
    (assuming all outstanding shares are voted) in order to have our initial business combination approved ((assuming all outstanding
    shares are voted and our sponsor, officers and directors do not purchase any shares in or after this offering). We intend
    to give approximately 30 days (but not less than 10 days nor more than 60 days) prior written notice of any
    such meeting, if required, at which a vote shall be taken to approve our initial business combination. These quorum and voting
    thresholds, and the voting agreements of our initial stockholders, may make it more likely that we will consummate our initial
    business combination. Each public stockholder may elect to redeem its public shares irrespective of whether they vote for
    or against the proposed transaction.
We
    may require our public stockholders seeking to exercise their redemption rights, whether they are record holders or hold their
    shares in "street name," to either tender their certificates to our transfer agent prior to the date set forth
    in the tender offer documents mailed to such holders, or up to two business days prior to the vote on the proposal to approve
    the initial business combination in the event we distribute proxy materials, or to deliver their shares to the transfer agent
    electronically. We believe that this will allow our transfer agent to efficiently process any redemptions without the need
    for further communication or action from the redeeming public stockholders, which could delay redemptions and result in additional
    administrative cost. If the proposed initial business combination is not approved and we continue to search for a target company,
    we will promptly return any certificates delivered, or shares tendered electronically, by public stockholders who elected
    to redeem their shares.
Our
    amended and restated certificate of incorporation will provide that in no event will we redeem our public shares unless our
    net tangible assets are at least $5,000,001 either immediately prior to or upon consummation of our initial business combination
    (so that we are not subject to the SEC's "penny stock" rules) or any greater net tangible asset or cash
    requirement which may be contained in the agreement relating to our initial business combination. For example, the proposed
    initial 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 initial business combination. In the event the aggregate
    cash consideration we would be required to pay for all shares of Class A common stock that are validly submitted for redemption
    plus any amount required to satisfy cash conditions pursuant to the terms of the proposed initial business combination exceed
    the aggregate amount of cash available to us, we will not complete the initial business combination or redeem any shares,
    and all shares of Class A common stock submitted for redemption will be returned to the holders thereof.
18
Limitation
    on redemption rights of stockholders holding 20% or more of the shares sold in this offering if we hold stockholder vote
Notwithstanding
    the foregoing redemption rights, if we seek stockholder approval of our initial business combination and we do not conduct
    redemptions in connection with our initial business combination pursuant to the tender offer rules, our amended and restated
    certificate of incorporation will provide that a public stockholder, together with any affiliate of such stockholder or any
    other person with whom such stockholder is acting in concert or as a "group" (as defined under Section 13
    of the Exchange Act), will be restricted from redeeming its shares with respect to more than an aggregate of 20% of the shares
    sold in this offering, without our prior consent. We believe the restriction described above will discourage stockholders
    from accumulating large blocks of shares, and subsequent attempts by such holders to use their ability to redeem their shares
    as a means to force us or our management to purchase their shares at a significant premium to the then-current market price
    or on other undesirable terms. Absent this provision, a public stockholder holding more than an aggregate of 20% of the shares
    sold in this offering could threaten to exercise its redemption rights against an initial business combination if such holder's
    shares are not purchased by us or our management at a premium to the then-current market price or on other undesirable terms.
    By limiting our stockholders' ability to redeem to no more than 20% of the shares sold in this offering, we believe
    we will limit the ability of a small group of stockholders to unreasonably attempt to block our ability to complete our initial
    business combination, particularly in connection with an initial business combination with a target that requires as a closing
    condition that we have a minimum net worth or a certain amount of cash. However, we would not be restricting our stockholders'
    ability to vote all of their shares (including all shares held by those stockholders that hold more than 20% of the shares
    sold in this offering) for or against our initial business combination.
Redemption
    rights in
connection with proposed amendments to our certificate of incorporation
Our
    amended and restated certificate of incorporation provides that any of its provisions related to pre-business combination
    activity (including the requirement to deposit proceeds of this offering and the private placement of warrants into the trust
    account and not release such amounts except in specified circumstances, and to provide redemption rights to public stockholders
    as described herein) may be amended if approved by holders of 65% of our common stock entitled to vote thereon, and corresponding
    provisions of the trust agreement governing the release of funds from our trust account may be amended if approved by holders
    of 65% of our common stock entitled to vote thereon. In all other instances, our amended and restated certificate of incorporation
    may be amended by holders of a majority of our outstanding common stock entitled to vote thereon, subject to applicable provisions
    of the Delaware General Corporation Law, or DGCL, or applicable stock exchange rules. Under our amended and restated certificate
    of incorporation, we may not issue additional securities that can vote on amendments to our amended and restated certificate
    of incorporation or on our initial business combination or that would entitle holders thereof to receive funds from the trust
    account. Our initial stockholders, who will collectively beneficially own 20% of our common stock upon the closing of this
    offering (assuming they do not purchase any units in this offering), will participate in any vote to amend our amended and
    restated certificate of incorporation and/or trust agreement and will have the discretion to vote in any manner they choose.
    Our sponsor, executive officers, and directors have agreed, pursuant to a written agreement with us, that they will not propose
    any amendment to our amended and restated certificate of incorporation (i) to modify the substance or timing of our obligation
    to offer redemption rights in connection with any initial business combination or to redeem 100% of our public shares if we
    do not complete our initial business combination within 24 months from the closing of this offering or (ii) with respect
    to any other provision relating to stockholders' rights or pre-business combination activity, unless we provide our
    public stockholders with the opportunity to redeem their shares of Class A common stock upon approval of any such amendment
    at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest
    (which interest shall be net of taxes payable) divided by the number of then outstanding public shares. Our sponsor, officers
    and directors have entered into a letter agreement with us pursuant to which they have agreed to waive their redemption rights
    with respect to any founder shares and any public shares held by them in connection with the completion of our initial business
    combination.
19
Release of funds in trust account
    on closing of our initial business combination
On
    the completion of our initial business combination, the funds held in the trust account will be used to pay amounts due to
    any public stockholders who exercise their redemption rights as described above under "Redemption rights for public
    stockholders upon completion of our initial business combination." We will use the remaining funds to pay the underwriters
    their deferred underwriting commissions, to pay all or a portion of the consideration payable to the target or owners of the
    target of our initial business combination and to pay other expenses associated with our initial business combination. If
    our initial business combination is paid for using equity or debt securities, or not all of the funds released from the trust
    account are used for payment of the consideration in connection with our initial business combination, we may apply the balance
    of the cash released to us from the trust account for general corporate purposes, including for maintenance or expansion of
    operations of post-transaction businesses, the payment of principal or interest due on indebtedness incurred in completing
    our initial business combination, to fund the purchase of other companies or for working capital.
Redemption
    of public shares and distribution and liquidation if no initial business combination
Our
    amended and restated certificate of incorporation provides that we will have only 24 months from the closing of this offering
    to complete our initial business combination. If we are unable to complete our initial business combination within such 24-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 the public shares, at a per-share price, payable in cash, equal to
    the aggregate amount then on deposit in the trust account including interest earned on the funds held in the trust account
    and not previously released to us to pay our taxes (less up to $100,000 of interest to pay dissolution expenses), divided
    by the number of then outstanding public shares, which redemption will completely extinguish public stockholders' rights
    as stockholders (including the right to receive further liquidating distributions, if any), subject to applicable law, and
    (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining stockholders
    and our board of directors, dissolve and liquidate, subject in each case to our obligations under Delaware law to provide
    for claims of creditors and the requirements of other applicable law. There will be no redemption rights or liquidating distributions
    with respect to our warrants, which will expire worthless if we fail to complete our initial business combination within the
    24-month time period.
20
Our
    sponsor, officers and directors have entered into a letter agreement with us, pursuant to which they have waived their rights
    to liquidating distributions from the trust account with respect to any founder shares held by them if we fail to complete
    our initial business combination within 24 months from the closing of this offering. However, if our initial stockholders
    acquire public shares in or after this offering, they will be entitled to liquidating distributions from the trust account
    with respect to such public shares if we fail to complete our initial business combination within the allotted 24-month time
    period.
The
    underwriters have agreed to waive their rights to their deferred underwriting commission held in the trust account in the
    event we do not complete our initial business combination and subsequently liquidate 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.
Limited
    payments to insiders
There
    will be no finder's fees, reimbursement, consulting fee, non-cash payments, monies in respect of any payment of a loan
    or other compensation paid by us to our sponsor, officers or directors, or any affiliate of our sponsor or officers prior
    to, or in connection with any services rendered in order to effectuate, the consummation of our initial business combination
    (regardless of the type of transaction that it is). However, the following payments will be made to our sponsor, officers
    or directors, or our or their affiliates, none of which will be made from the proceeds of this offering held in the trust
    account prior to the completion of our initial business combination:
•  Repayment
    of up to an aggregate of $300,000 in loans made to us by our sponsor to cover offering-related and organizational expenses;
•  Payment
    to our sponsor of $10,000 per month, for up to 24 months, for office space, utilities and secretarial and administrative support;
•  Reimbursement
    for any out-of-pocket expenses related to identifying, investigating and completing an initial business combination; and
•  Repayment
    of non-interest bearing loans which may be made by our sponsor or an affiliate of our sponsor or certain of our officers and
    directors to finance transaction costs in connection with an intended initial business combination. Up to $1,500,000 of such
    loans may be convertible into warrants, at a price of $1.00 per warrant at the option of the lender. The warrants would be
    identical to the private placement warrants, including as to exercise price, exercisability and exercise period.
Our
    audit committee will review on a quarterly basis all payments that were made to our sponsor, officers or directors, or our
    or their affiliates.
Audit
    Committee
We
    will establish and maintain an audit committee, which will be composed entirely of independent directors to, among other things,
    monitor compliance with the terms described above and the other terms relating to this offering. If any noncompliance is identified,
    then the audit committee will be charged with the responsibility to immediately take all action necessary to rectify such
    noncompliance or otherwise to cause compliance with the terms of this offering. For more information, see the section of this
    prospectus entitled "Management — Committees of the Board of Directors — Audit Committee."
21
Indemnity
Our
    sponsor has agreed that it will be liable to us if and to the extent any claims by a third party for services rendered or
    products sold to us, or a prospective target business with which we have entered into a written letter of intent, confidentiality
    or similar agreement or business combination agreement, reduce the amount of funds in the trust account to below the lesser
    of (i) $10.00 per public share and (ii) the actual amount per public share held in the trust account as of the date of
    the liquidation of the trust account, if less than $10.00 per share due to reductions in the value of the trust assets, less
    taxes payable, provided that such liability will not apply to any claims by a third party or prospective target business who
    executed a waiver of any and all rights to the monies held in the trust account (whether or not such waiver is enforceable)
    nor will it apply to any claims under our indemnity of the underwriters of this offering against certain liabilities, including
    liabilities under the Securities Act. 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 believe
    that our sponsor's only assets are securities of our company. Therefore, we believe it is unlikely 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.
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 the section of this prospectus entitled "Proposed
Business — Comparison of This Offering to Those of Blank Check Companies Subject to Rule 419." You should
carefully consider these and the other risks set forth in the section of this prospectus entitled "Risk Factors" beginning
on page 24 of this prospectus.
22
Summary
Financial Data
The following table summarizes the relevant
financial data for our business and should be read with our financial statements, which are included in this prospectus. We have
not had any significant operations to date, so only balance sheet data is presented.
August
    17, 2020
(Audited)
Balance
    Sheet Data:
Working
    capital (deficiency)
$
(35,266.00
)
Total assets
$
82,500.00
Total liabilities
$
60,266.00
Stockholder's
    equity
$
22,234.00
23
RISK FACTORS
An investment in our securities involves
a high degree of risk. You should consider carefully all of the risks described below, together with the other information contained
in this prospectus, before making a decision to invest in our units. If any of the following events occur, our business, financial
condition and operating results may be materially adversely affected. In that event, the trading price of our securities could
decline, and you could lose all or part of your investment.
We are a newly formed company with no operating history
and no revenues, and you have no basis on which to evaluate our ability to achieve our business objective.
We are a newly formed company with no operating
results, and we will not commence operations until obtaining funding through this offering. Because we lack an operating history,
you have no basis upon which to evaluate our ability to achieve our business objective of completing our initial business combination
with one or more target businesses. We have no plans, arrangements or understandings with any prospective target business concerning
an initial business combination and may be unable to complete our initial business combination. If we fail to complete our initial
business combination, we will never generate any operating revenues.
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 August 17, 2020, we had $25,000 in
cash and working capital deficit of $35,266. Further, we have incurred and expect to continue to incur significant costs in pursuit
of our financing 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.
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.
We may choose not to hold a stockholder
vote to approve our initial business combination unless the initial business combination would require stockholder approval under
applicable law or stock exchange listing requirements or if we decide to hold a stockholder vote for business or other legal reasons.
Except as required by law, the decision as to whether we will seek stockholder approval of a proposed initial 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. Accordingly, we may complete our initial business combination even if holders of a majority
of our public shares do not approve of the initial business combination we complete. Please see the section of this prospectus
entitled "Proposed Business — Stockholders May Not Have the Ability to Approve Our Initial Business Combination"
for additional information.
If we seek stockholder approval of our initial business
combination, our initial stockholders have agreed to vote in favor of such initial business combination, regardless of how our
public stockholders vote.
Pursuant to the letter agreement, our sponsor,
officers and directors have agreed to vote their founder shares, as well as any public shares purchased during or after this offering
(including in open market and privately negotiated transactions), in favor of our initial business combination. As a result, in
addition to our initial stockholders' founder shares, we would need only 4,687,501, or 37.5%, of the 12,500,000 public shares
sold in this offering to be voted in favor of an initial business combination (assuming all outstanding shares are voted and our
sponsor, officers and directors do not purchase any public shares) in order to have our initial business combination approved
(assuming the over-allotment option is not exercised). Our initial stockholders will own shares representing 20% of our outstanding
shares of common stock immediately following the completion of this offering and the private placement. Accordingly, if we seek
stockholder approval of our initial business combination, the agreement by our initial stockholders to vote in favor of our initial
business combination will increase the likelihood that we will receive the requisite stockholder approval for such initial business
combination.
24
Your only opportunity to affect the investment decision
regarding a potential business combination will be limited to the exercise of your right to redeem your shares from us for cash,
unless we seek stockholder approval of the initial business combination.
At the time of your investment in us, you
will not be provided with an opportunity to evaluate the specific merits or risks of our initial business combination. Since our
board of directors may complete an initial business combination without seeking stockholder approval, public stockholders may
not have the right or opportunity to vote on the initial business combination, unless we seek such stockholder vote.
Accordingly, if we do not seek stockholder
approval, your only opportunity to affect the investment decision regarding a potential business combination may be limited to
exercising your redemption rights within the period of time (which will be at least 20 business days) set forth in our tender
offer documents mailed to our public stockholders in which we describe our initial business combination.
The ability of our public stockholders to redeem their shares
for cash may make our financial condition unattractive to potential business combination targets, which may make it difficult
for us to enter into an initial business combination with a target.
We may seek to enter into an initial business
combination agreement with a prospective target that requires as a closing condition that we have a minimum net worth or a certain
amount of cash. If too many public stockholders exercise their redemption rights, we would not be able to meet such closing condition
and, as a result, would not be able to proceed with the initial business combination. Furthermore, in no event will we redeem
our public shares unless our net tangible assets are at least $5,000,001 either immediately prior to or upon consummation of our
initial business combination and after payment of underwriters' fees and commissions (so that we are not subject to the
SEC's "penny stock" rules) or any greater net tangible asset or cash requirement which may be contained in the
agreement relating to our initial business combination. Consequently, if accepting all properly submitted redemption requests
would cause our net tangible assets to be less than $5,000,001 or such greater amount necessary to satisfy a closing condition,
each as described above, we would not proceed with such redemption and the related business combination and may instead search
for an alternate business combination. Prospective targets will be aware of these risks and, thus, may be reluctant to enter into
an initial business combination with us.
The ability of our public stockholders to exercise redemption
rights with respect to a large number of our shares may not allow us to complete the most desirable business combination or optimize
our capital structure.
At the time we enter into an agreement for
our initial business combination, we will not know how many stockholders may exercise their redemption rights, and therefore will
need to structure the transaction based on our expectations as to the number of shares that will be submitted for redemption.
If our initial business combination agreement requires us to use a portion of the cash in the trust account to pay the purchase
price, or requires us to have a minimum amount of cash at closing, we will need to reserve a portion of the cash in the trust
account to meet such requirements, or arrange for third party financing. In addition, if a larger number of shares are submitted
for redemption than we initially expected, we may need to restructure the transaction to reserve a greater portion of the cash
in the trust account or arrange for third party financing. Raising additional third party financing may involve dilutive equity
issuances or the incurrence of indebtedness at higher than desirable levels. Furthermore, this dilution would increase to the
extent that the anti-dilution provision of the Class B common stock results in the issuance of Class A shares on a greater than
one-to-one basis upon conversion of the Class B common stock at the time of our business combination. The above considerations
may limit our ability to complete the most desirable business combination available to us or optimize our capital structure. The
amount of the deferred underwriting commissions payable to the underwriters will not be adjusted for any shares that are redeemed
in connection with an initial business combination. The per-share amount we will distribute to stockholders who properly exercise
their redemption rights will not be reduced by the deferred underwriting commission and after such redemptions, the per-share
value of shares held by non-redeeming stockholders will reflect our obligation to pay the deferred underwriting commissions.
25
The ability of our public stockholders to exercise redemption
rights with respect to a large number of our shares could increase the probability that our initial business combination would
be unsuccessful and that you would have to wait for liquidation in order to redeem your stock.
If our initial business combination agreement
requires us to use a portion of the cash in the trust account to pay the purchase price, or requires us to have a minimum amount
of cash at closing, the probability that our initial business combination would be unsuccessful is increased. If our initial business
combination is unsuccessful, you would not receive your pro rata portion of the trust account until we liquidate the trust account.
If you are in need of immediate liquidity, you could attempt to sell your stock in the open market; however, at such time our
stock may trade at a discount to the pro rata amount per share in the trust account. In either situation, you may suffer a material
loss on your investment or lose the benefit of funds expected in connection with our redemption until we liquidate or you are
able to sell your stock in the open market.
The requirement that we complete our initial business combination
within the prescribed time frame may give potential target businesses leverage over us in negotiating an initial business combination
and may decrease our ability to conduct due diligence on potential business combination targets as we approach our dissolution
deadline, which could undermine our ability to complete our initial business combination on terms that would produce value for
our stockholders.
Any potential target business with which
we enter into negotiations concerning an initial business combination will be aware that we must complete our initial business
combination within 24 months from the closing of this offering. Consequently, such target business may obtain leverage over us
in negotiating an initial business combination, knowing that if we do not complete our initial business combination with that
particular target business, we may be unable to complete our initial business combination with any target business. This risk
will increase as we get closer to the timeframe described above. In addition, we may have limited time to conduct due diligence
and may enter into our initial business combination on terms that we would have rejected upon a more comprehensive investigation.
We may not be able to complete our initial business combination
within the prescribed time frame, in which case we would cease all operations except for the purpose of winding up and we would
redeem our public shares and liquidate, in which case our public stockholders may only receive $10.00 per share, or less than
such amount in certain circumstances, and our warrants will expire worthless.
Our amended and restated certificate of
incorporation provides that we must complete our initial business combination within 24 months from the closing of this offering.
Our ability to complete our initial business combination may be negatively impacted by general market conditions, volatility in
the capital and debt markets and the other risks described herein. For example, the outbreak of the recent coronavirus ("COVID-19")
continues to grow both in the U.S. and globally and, while the extent of the impact of the outbreak on us will depend on future
developments, it could limit our ability to complete our initial business combination, including as a result of increased market
volatility, decreased market liquidity and third-party financing being unavailable on terms acceptable to us or at all. Additionally,
the outbreak of COVID-19 may negatively impact businesses we may seek to acquire. If we have not completed our initial business
combination within such time period, we will: (i) cease all operations except for the purpose of winding up, (ii) as promptly
as reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-share price, payable
in cash, equal to the aggregate amount then on deposit in the trust account including interest earned on the funds held in the
trust account and not previously released to us to pay our taxes (less up to $100,000 of interest to pay dissolution expenses),
divided by the number of then outstanding public shares, which redemption will completely extinguish public stockholders'
rights as stockholders (including the right to receive further liquidating distributions, if any), subject to applicable law,
and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining stockholders
and our board of directors, dissolve and liquidate, subject in each case to our obligations under Delaware law to provide for
claims of creditors and the requirements of other applicable law. In such case, our public stockholders may only receive $10.00
per share, and our warrants will expire worthless. In certain circumstances, our public stockholders may receive less than $10.00 per
share on the redemption of their shares. See "— If third parties bring claims against us, the proceeds held in the
trust account could be reduced and the per-share redemption amount received by stockholders may be less than $10.00 per share"
and other risk factors below.
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 COVID-19 outbreak and
the status of debt and equity markets.
In December 2019, a novel strain of coronavirus
was reported to have surfaced, which has and is continuing to spread throughout the world, including the United States and Europe.
On January 30, 2020, the World Health Organization declared the outbreak of COVID-19 a "Public Health Emergency of International
Concern." On January 31, 2020, U.S. Health and Human Services Secretary Alex M. Azar II declared a public health emergency
for the United States to aid the U.S. healthcare community in responding to COVID-19, and on March 11, 2020 the World Health Organization
characterized the outbreak as a "pandemic." The COVID-19 outbreak has resulted in a widespread health crisis that
has adversely affected economies and financial markets worldwide, business operations and the conduct of commerce generally, and
the business of any potential target business with which we consummate a business combination could be, or may already have been,
materially and adversely affected. Furthermore, we may be unable to complete a business combination if concerns relating to COVID-19
continue to restrict travel or 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.
26
In addition, our ability to consummate a
transaction may be dependent on the ability to raise equity and debt financing which may be impacted by COVID-19 and other events,
including as a result of increased market volatility and decreased market liquidity and third-party financing being unavailable
on terms acceptable to us or at all.
If we seek stockholder approval of our initial business
combination, our sponsor, directors, officers, advisors and their affiliates may elect to purchase shares or warrants from public
stockholders, which may influence a vote on a proposed initial business combination and reduce the public "float"
of our Class A common stock.
If we seek stockholder approval of our initial
business combination and we do not conduct redemptions in connection with our initial business combination pursuant to the tender
offer rules, our sponsor, directors, officers, advisors or their affiliates may purchase shares or public warrants or a combination
thereof in privately negotiated transactions or in the open market either prior to or following the completion of our initial
business combination, although they are under no obligation to do so. However, they have no current commitments, plans or intentions
to engage in such transactions and have not formulated any terms or conditions for any such transactions. None of the funds in
the trust account will be used to purchase shares or public warrants in such transactions.
Such a purchase may include a contractual
acknowledgement that such stockholder, although still the record holder of our shares is no longer the beneficial owner thereof
and therefore agrees not to exercise its redemption rights. In the event that our sponsor, directors, officers, advisors or their
affiliates purchase shares in privately negotiated transactions from public stockholders who have already elected to exercise
their redemption rights, such selling stockholders would be required to revoke their prior elections to redeem their shares. The
purpose of such purchases could be to vote such shares in favor of the initial business combination and thereby increase the likelihood
of obtaining stockholder approval of the initial business combination, or to satisfy a closing condition in an agreement with
a target that requires us to have a minimum net worth or a certain amount of cash at the closing of our initial business combination,
where it appears that such requirement would otherwise not be met. The purpose of any such purchases of public warrants could
be to reduce the number of public warrants outstanding or to vote such warrants on any matters submitted to the warrantholders
for approval in connection with our initial business combination. Any such purchases of our securities may result in the completion
of our initial business combination that may not otherwise have been possible. Any such purchases will be reported pursuant to
Section 13 and Section 16 of the Exchange Act to the extent such purchasers are subject to such reporting requirements.
In addition, if such purchases are made,
the public "float" of our Class A common stock or public warrants and the number of beneficial holders of our securities
may be reduced, possibly making it difficult to obtain or maintain the quotation, listing or trading of our securities on a national
securities exchange.
If a stockholder fails to receive notice of our offer to
redeem our public shares in connection with our initial business combination, or fails to comply with the procedures for tendering
its shares, such shares may not be redeemed.
We will comply with the tender offer rules
or proxy rules, as applicable, when conducting redemptions in connection with our initial business combination. Despite our compliance
with these rules, if a stockholder fails to receive our tender offer or proxy materials, as applicable, such stockholder may not
become aware of the opportunity to redeem its shares. In addition, proxy materials or tender offer documents, as applicable, that
we will furnish to holders of our public shares in connection with our initial business combination will describe the various
procedures that must be complied with in order to validly tender or redeem public shares. For example, we may require our public
stockholders seeking to exercise their redemption rights, whether they are record holders or hold their shares in "street
name," to either tender their certificates to our transfer agent prior to the date set forth in the tender offer documents
mailed to such holders, or up to two business days prior to the vote on the proposal to approve the initial business combination
in the event we distribute proxy materials, or to deliver their shares to the transfer agent electronically. In the event that
a stockholder fails to comply with these or any other procedures, its shares may not be redeemed. See the section of this prospectus
entitled "Proposed Business — Redemption Rights for Public Stockholders upon Completion of our Initial Business Combination
 — Tendering Stock Certificates in Connection with a Tender Offer or Redemption Rights."
You will not have any rights or interests in funds from
the trust account, except under certain limited circumstances. To liquidate your investment, therefore, you may be forced to sell
your public shares or warrants, potentially at a loss.
Our public stockholders will be entitled
to receive funds from the trust account only upon the earliest to occur of: (i) our completion of an initial business combination,
and then only in connection with those shares of Class A common stock that such stockholder properly elected to redeem, subject
to the limitations described herein, (ii) the redemption of any public shares properly submitted in connection with a stockholder
vote to amend our amended and restated certificate of incorporation (A) to modify the substance or timing of our obligation to
redeem 100% of our public shares if we do not complete our initial business combination within 24 months from the closing of this
offering or (B) with respect to any other provision relating to stockholders' rights or pre-initial business combination
activity and (iii) the redemption of our public shares if we are unable to complete an initial business combination within 24
months from the closing of this offering, subject to applicable law and as further described herein. In no other circumstances
will a public stockholder have any right or interest of any kind in the trust account. Holders of warrants will not have any right
to the proceeds held in the trust account with respect to the warrants. Accordingly, to liquidate your investment, you may be
forced to sell your public shares or warrants, potentially at a loss.
27
Nasdaq may delist our securities from trading on its exchange,
which could limit investors' ability to make transactions in our securities and subject us to additional trading restrictions.
We have applied to have our units listed
on Nasdaq. We expect that our units will be listed on Nasdaq on or promptly after the date of this prospectus. Following the date
the shares of our Class A common stock and warrants are eligible to trade separately, we anticipate that the shares of our Class
A common stock and warrants will be separately listed on Nasdaq. We cannot guarantee that our securities will be approved for
listing on Nasdaq. 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 $2,500,000) 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, our stockholders' equity would generally be required to
be at least $5.0 million and we would be required to have a minimum of 300 round lot holders (with at least 50% of such round
lot holders holding securities with a market value of at least $2,500) of our securities. We cannot assure you that we will be
able to meet those initial listing requirements at that time.
If Nasdaq delists our securities from trading
on its exchange and we are not able to list our securities on another national securities exchange, we expect our securities could
be quoted on an over-the-counter market. If this were to occur, we could face significant material adverse consequences, including:
•
a limited
                                         availability of market quotations for our securities;
•
reduced
                                         liquidity for our securities;
•
a determination
                                         that our Class A common stock is a "penny stock" which will require brokers
                                         trading in our Class A common stock to adhere to more stringent rules and possibly result
                                         in a reduced level of trading activity in the secondary trading market for our securities;
•
a limited
                                         amount of news and analyst coverage; and
•
a decreased
                                         ability to issue additional securities or obtain additional financing in the future.
The National Securities Markets Improvement
Act of 1996, which is a federal statute, prevents or preempts the states from regulating the sale of certain securities, which
are referred to as "covered securities." Because we expect that our units and eventually our Class A common stock
and warrants will be listed on Nasdaq, our units, Class A common stock and warrants will be covered securities. Although the states
are preempted from regulating the sale of our securities, the federal statute does allow the states to investigate companies if
there is a suspicion of fraud, and, if there is a finding of fraudulent activity, then the states can regulate or bar the sale
of covered securities in a particular case. While we are not aware of a state having used these powers to prohibit or restrict
the sale of securities issued by blank check companies, other than the State of Idaho, certain state securities regulators view
blank check companies unfavorably and might use these powers, or threaten to use these powers, to hinder the sale of securities
of blank check companies in their states. Further, if we were no longer listed on Nasdaq, our securities would not be covered
securities and we would be subject to regulation in each state in which we offer our securities, including in connection with
our initial business combination.
28
You will not be entitled to protections normally afforded
to investors of many other blank check companies.
Since the net proceeds of this offering
and the sale of the private placement warrants are intended to be used to complete an initial business combination with a target
business that has not been identified, we may be deemed to be a "blank check" company under the United States securities
laws. However, because we will have net tangible assets in excess of $5,000,000 upon the successful completion of this offering
and the sale of the private placement warrants and will file a Current Report on Form 8-K, including an audited balance sheet
demonstrating this fact, we are exempt from rules promulgated by the SEC to protect investors in blank check companies, such as
Rule 419. Accordingly, investors will not be afforded the benefits or protections of those rules. Among other things, this
means our units will be immediately tradable and we will have a longer period of time to complete our initial business combination
than do companies subject to Rule 419. Moreover, if this offering were subject to Rule 419, that rule would prohibit the release
of any interest earned on funds held in the trust account to us unless and until the funds in the trust account were released
to us in connection with our completion of an initial business combination. For a more detailed comparison of our offering to
offerings that comply with Rule 419, please see the section of this prospectus entitled "Proposed Business — Comparison
of This Offering to Those of Blank Check Companies Subject to Rule 419."
If we seek stockholder approval of our initial business
combination and we do not conduct redemptions pursuant to the tender offer rules, and if you or a "group" of stockholders
are deemed to hold in excess of 20% of our Class A common stock, you will lose the ability to redeem all such shares in excess
of 20% of our Class A common stock.
If we seek stockholder approval of our initial
business combination and we do not conduct redemptions in connection with our initial business combination pursuant to the tender
offer rules, our amended and restated certificate of incorporation will provide that a public stockholder, together with any affiliate
of such stockholder or any other person with whom such stockholder is acting in concert or as a "group" (as defined
under Section 13 of the Exchange Act), will be restricted from seeking redemption rights with respect to more than an aggregate
of 20% of the shares sold in this offering without our prior consent, which we refer to as the "Excess Shares." However,
we would not be restricting our stockholders' ability to vote all of their shares (including Excess Shares) for or against
our initial business combination. Your inability to redeem the Excess Shares will reduce your influence over our ability to complete
our initial business combination and you could suffer a material loss on your investment in us if you sell Excess Shares in open
market transactions. Additionally, you will not receive redemption distributions with respect to the Excess Shares if we complete
our initial business combination. And as a result, you will continue to hold that number of shares exceeding 20% and, in order
to dispose of such shares, would be required to sell your stock in open market transactions, potentially at a loss.
Because of our limited resources and the significant competition
for business combination opportunities, it may be more difficult for us to complete our initial business combination. If we are
unable to complete our initial business combination, our public stockholders may receive only approximately $10.00 per share on
our redemption of our public shares, or less than such amount in certain circumstances, and our warrants will expire worthless.
We expect to encounter competition from
other entities having a business objective similar to ours, including private investors (which may be individuals or investment
partnerships), other blank check companies and other entities competing for the types of businesses we intend to acquire. Many
of these individuals and entities are well-established and have extensive experience in identifying and effecting, directly or
indirectly, acquisitions of companies operating in or providing services to various industries. Many of these competitors possess
similar technical, human and other resources to ours, and our financial resources will be relatively limited when contrasted with
those of many of these competitors. While we believe there are numerous target businesses we could potentially acquire with the
net proceeds of this offering and the sale of the private placement warrants, our ability to compete with respect to the acquisition
of certain target businesses that are sizable will be limited by our available financial resources. This inherent competitive
limitation gives others an advantage in pursuing the acquisition of certain target businesses. Furthermore, because we are obligated
to pay cash for the shares of Class A common stock which our public stockholders redeem in connection with our initial business
combination, target companies will be aware that this may reduce the resources available to us for our initial business combination.
This may place us at a competitive disadvantage in successfully negotiating an initial business combination. If we are unable
to complete our initial business combination, our public stockholders may receive only approximately $10.00 per share on the liquidation
of our trust account and our warrants will expire worthless. In certain circumstances, our public stockholders may receive less
than $10.00 per share upon our liquidation. See "— If third parties bring claims against us, the proceeds held in
the trust account could be reduced and the per-share redemption amount received by stockholders may be less than $10.00 per share"
and other risk factors below.
29
If the net proceeds of this offering and the sale of the
private placement warrants not being held in the trust account are insufficient, it could limit the amount available to fund our
search for a target business or businesses and complete our initial business combination and we will depend on loans from our
sponsor or management team to fund our search for an initial business combination, to pay our taxes and to complete our initial
business combination. If we are unable to obtain these loans, we may be unable to complete our initial business combination.
Of the net proceeds of this offering and
the sale of the private placement warrants, only approximately $1,000,000 will be available to us initially outside the trust
account to fund our working capital requirements. In the event that our offering expenses exceed our estimate of $750,000, we
may fund such excess with funds not to be held in the trust account. In such case, the amount of funds we intend to be held outside
the trust account would decrease by a corresponding amount. The amount held in the trust account will not be impacted as a result
of such increase or decrease. Conversely, in the event that the offering expenses are less than our estimate of $750,000, the
amount of funds we intend to be held outside the trust account would increase by a corresponding amount. If we are required to
seek additional capital, we would need to borrow funds from our sponsor, management team or other third parties to operate or
may be forced to liquidate. None of our sponsor, members of our management team nor any of their affiliates is under any obligation
to advance funds to us in such circumstances. Any such advances would be repaid only from funds held outside the trust account
or from funds released to us upon completion of our initial business combination. Up to $1,500,000 of such loans may be convertible
into private placement-equivalent warrants at a price of $1.00 per warrant at the option of the lender. Prior to the completion
of our initial business combination, we do not expect to seek loans from parties other than our sponsor or an affiliate of our
sponsor as we do not believe third parties will be willing to loan such funds and provide a waiver against any and all rights
to seek access to funds in our trust account. If we are unable to obtain these loans, we may be unable to complete our initial
business combination. If we are unable to complete our initial business combination because we do not have sufficient funds available
to us, we will be forced to cease operations and liquidate the trust account. Consequently, our public stockholders may only receive
approximately $10.00 per share on our redemption of our public shares, and our warrants will expire worthless. In certain circumstances,
our public stockholders may receive less than $10.00 per share on the redemption of their shares. See "— If third
parties bring claims against us, the proceeds held in the trust account could be reduced and the per-share redemption amount received
by stockholders may be less than $10.00 per share" and other risk factors below.
Subsequent to the completion of our initial business combination,
we may be required to take write-downs or write-offs, restructuring and impairment or other charges that could have a significant
negative effect on our financial condition, results of operations and our stock price, which could cause you to lose some or all
of your investment.
Even if we conduct extensive due diligence
on a target business with which we combine, we cannot assure you that this diligence will surface all material issues that may
be present inside a particular target business, that it would be possible to uncover all material issues through a customary amount
of due diligence, or that factors outside of the target business and outside of our control will not later arise. As a result
of these factors, we may be forced to later write-down or write-off assets, restructure our operations, or incur impairment or
other charges that could result in our reporting losses. Even if our due diligence successfully identifies certain risks, unexpected
risks may arise and previously known risks may materialize in a manner not consistent with our preliminary risk analysis. Even
though these charges may be non-cash items and not have an immediate impact on our liquidity, the fact that we report charges
of this nature could contribute to negative market perceptions about us or our securities. In addition, charges of this nature
may cause us to violate net worth or other covenants to which we may be subject as a result of assuming pre-existing debt held
by a target business or by virtue of our obtaining debt financing to partially finance the initial business combination. Accordingly,
any stockholders who choose to remain stockholders following the initial business combination could suffer a reduction in the
value of their shares. Such stockholders are unlikely to have a remedy for such reduction in value unless they are able to successfully
claim that the reduction was due to the breach by our officers or directors of a duty of care or other fiduciary duty owed to
them, or if they are able to successfully bring a private claim under securities laws that the proxy solicitation or tender offer
materials, as applicable, relating to the initial business combination constituted an actionable material misstatement or omission.
30
If third parties bring claims against us, the proceeds held
in the trust account could be reduced and the per-share redemption amount received by stockholders may be less than $10.00 per
share.
Our placing of funds in the trust account
may not protect those funds from third-party claims against us. Although we will seek to have all vendors, service providers,
prospective target businesses 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. Marcum LLP, our independent registered
public accounting firm, and the underwriters of the offering, will not execute agreements with us waiving such claims to the monies
held in the trust account.
Examples of possible instances where we
may engage a third party that refuses to execute a waiver include the engagement of a third party consultant whose particular
expertise or skills are believed by management to be significantly superior to those of other consultants that would agree to
execute a waiver or in cases where management is unable to find a service provider willing to execute a waiver. In addition, there
is no guarantee that such entities will agree to waive any claims they may have in the future as a result of, or arising out of,
any negotiations, contracts or agreements with us and will not seek recourse against the trust account for any reason. Upon redemption
of our public shares, if we are unable to complete our initial business combination within the prescribed timeframe, 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 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 Exhibit 10.1 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 for services rendered or products sold to us, or a prospective target business with which
we have entered into a written letter of intent, confidentiality or similar agreement or business combination agreement, reduce
the amount of funds in the trust account to below the lesser of (i) $10.00 per public share and (ii) the actual amount per public
share held in the trust account as of the date of the liquidation of the trust account, if less than $10.00 per share due to reductions
in the value of the trust assets, less taxes payable, provided that such liability will not apply to any claims by a third party
or prospective target business who executed a waiver of any and all rights to the monies held in the trust account (whether or
not such waiver is enforceable) nor will it apply to any claims under our indemnity of the underwriters of this offering against
certain liabilities, including liabilities under the Securities Act. 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 believe that our sponsor's only assets are securities of our company. Therefore, it is unlikely 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 net of the interest which may be withdrawn to pay taxes, 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, for example, the cost of such legal action is deemed by the independent directors to be too
high relative to the amount recoverable or if the independent directors determine that a favorable outcome is not likely. 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.
31
We may not have sufficient funds to satisfy indemnification
claims of our directors and executive officers.
We have agreed to indemnify our officers
and directors to the fullest extent permitted by law. However, our officers and directors have agreed to waive (and any other
persons who may become an officer or director prior to the initial business combination will also be required to waive) any right,
title, interest or claim of any kind in or to any monies in the trust account and not to seek recourse against the trust account
for any reason whatsoever. Accordingly, any indemnification provided will be able to be satisfied by us only if (i) we have sufficient
funds outside of the trust account or (ii) we consummate an initial business combination. Our obligation to indemnify our officers
and directors may discourage stockholders from bringing a lawsuit against our officers or directors for breach of their fiduciary
duty. These provisions also may have the effect of reducing the likelihood of derivative litigation against our officers and directors,
even though such an action, if successful, might otherwise benefit us and our stockholders. Furthermore, a stockholder's
investment may be adversely affected to the extent we pay the costs of settlement and damage awards against our officers and directors
pursuant to these indemnification provisions.
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 we and our board may be exposed 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.
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 stockholders may be less than $10.00 per share.
The proceeds held in the trust account will
be invested only in U.S. government treasury obligations with a maturity of 185 days or less or in money market funds meeting
certain conditions under Rule 2a-7 under the Investment Company Act, which invest only in direct U.S. government treasury
obligations. 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 stockholders 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 stockholders may be less
than $10.00 per share.
If we are deemed to be an investment company under the Investment
Company Act, we may be required to institute burdensome compliance requirements and our activities may be restricted, which may
make it difficult for us to complete our 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 initial business combination.
32
In addition, we may have imposed upon us
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 an initial 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 earliest
to occur of: (i) the completion of our initial business combination; (ii) the redemption of any public shares properly submitted
in connection with a stockholder vote to amend our amended and restated certificate of incorporation (A) to modify the substance
or timing of our obligation to redeem 100% of our public shares if we do not complete our initial business combination within
24 months from the closing of this offering or (B) with respect to any other provision relating to stockholders' rights
or pre-initial business combination activity; or (iii) absent an initial business combination within 24 months from the closing
of this offering, 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 an initial business combination
or may result in our liquidation. If we are unable to complete our initial business combination, our public stockholders may receive
only approximately $10.00 per share on the liquidation of our trust account and our warrants will expire worthless.
Changes in laws or regulations, or a failure to comply with
any laws and regulations, may adversely affect our business, including our ability to negotiate and complete our initial business
combination 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, including our ability to negotiate and complete our initial business combination
and results of operations.
33
Our stockholders may be held liable for claims by third
parties against us to the extent of distributions received by them upon redemption of their shares.
Under the DGCL, stockholders may be held
liable for claims by third parties against a corporation to the extent of distributions received by them in a dissolution. The
pro rata portion of our trust account distributed to our public stockholders upon the redemption of our public shares in the event
we do not complete our initial business combination within 24 months from the closing of this offering may be considered a liquidating
distribution under Delaware law. If a corporation complies with certain procedures set forth in Section 280 of the DGCL intended
to ensure that it makes reasonable provision for all claims against it, including a 60-day notice period during which any third-party
claims can be brought against the corporation, a 90-day period during which the corporation may reject any claims brought, and
an additional 150-day waiting period before any liquidating distributions are made to stockholders, any liability of stockholders
with respect to a liquidating distribution is limited to the lesser of such stockholder's pro rata share of the claim or
the amount distributed to the stockholder, and any liability of the stockholder would be barred after the third anniversary of
the dissolution. However, it is our intention to redeem our public shares as soon as reasonably possible following the 24
th
month from the closing of this offering in the event we do not complete our initial business combination and, therefore,
we do not intend to comply with the foregoing procedures.
Because we will not be complying with Section
280, Section 281(b) of the DGCL requires us to adopt a plan, based on facts known to us at such time that will provide for our
payment of all existing and pending claims or claims that may be potentially brought against us within the 10 years following
our dissolution. However, because we are a blank check company, rather than an operating company, and our operations will be limited
to searching for prospective target businesses to acquire, the only likely claims to arise would be from our vendors (such as
lawyers, investment bankers, etc.) or prospective target businesses. If our plan of distribution complies with Section 281(b)
of the DGCL, any liability of stockholders with respect to a liquidating distribution is limited to the lesser of such stockholder's
pro rata share of the claim or the amount distributed to the stockholder, and any liability of the stockholder would likely be
barred after the third anniversary of the dissolution. We cannot assure you that we will properly assess all claims that may be
potentially brought against us. As such, our stockholders could potentially be liable for any claims to the extent of distributions
received by them (but no more) and any liability of our stockholders may extend beyond the third anniversary of such date. Furthermore,
if the pro rata portion of our trust account distributed to our public stockholders upon the redemption of our public shares in
the event we do not complete our initial business combination within 24 months from the closing of this offering is not considered
a liquidating distribution under Delaware law and such redemption distribution is deemed to be unlawful (potentially due to the
imposition of legal proceedings that a party may bring or due to other circumstances that are currently unknown), then pursuant
to Section 174 of the DGCL, the statute of limitations for claims of creditors could then be six years after the unlawful redemption
distribution, instead of three years, as in the case of a liquidating distribution.
We may not hold an annual meeting of stockholders until
after the consummation of our initial business combination, which could delay the opportunity for our stockholders to elect directors.
In accordance with Nasdaq corporate governance
requirements, we are not required to hold an annual meeting until no later than one year after our first fiscal year end following
our listing on Nasdaq. Under Section 211(b) of the DGCL, we are, however, required to hold an annual meeting of stockholders for
the purposes of electing directors in accordance with our bylaws unless such election is made by written consent in lieu of such
a meeting. We may not hold an annual meeting of stockholders to elect new directors prior to the consummation of our initial business
combination, and thus we may not be in compliance with Section 211(b) of the DGCL, which requires an annual meeting. Therefore,
if our stockholders want us to hold an annual meeting prior to the consummation of our initial business combination, they may
attempt to force us to hold one by submitting an application to the Delaware Court of Chancery in accordance with Section 211(c)
of the DGCL.
34
We are not registering the shares of Class A common stock
issuable upon exercise of the warrants under the Securities Act or any state securities laws at this time, and such registration
may not be in place when an investor desires to exercise warrants, thus precluding such investor from being able to exercise its
warrants except on a cashless basis. If the issuance of the shares upon exercise of warrants is not registered, qualified or exempt
from registration or qualification, the holder of such warrant will not be entitled to exercise such warrant and such warrant
may have no value and expire worthless.
We are not registering the shares of Class
A common stock issuable upon exercise of the warrants under the Securities Act or any state securities laws at this time. However,
under the terms of the warrant agreement, we have agreed that as soon as practicable, but in no event later than 15 business days
after the closing of our initial business combination, we will use our best efforts to file with the SEC a registration statement
for the registration under the Securities Act of the shares of Class A common stock issuable upon exercise of the warrants and
thereafter will use our best efforts to cause the same to become effective within 60 business days following our initial business
combination and to maintain a current prospectus relating to the Class A common stock issuable upon exercise of the warrants,
until the expiration of the warrants in accordance with the provisions of the warrant agreement. We cannot assure you that we
will be able to do so if, for example, any facts or events arise which represent a fundamental change in the information set forth
in the registration statement or prospectus, the financial statements contained or incorporated by reference therein are not current
or correct or the SEC issues a stop order. If the shares issuable upon exercise of the warrants are not registered under the Securities
Act, we will be required to permit holders to exercise their warrants on a cashless basis. However, no warrant will be exercisable
for cash or on a cashless basis, and we will not be obligated to issue any shares to holders seeking to exercise their warrants,
unless the issuance of the shares upon such exercise is registered or qualified under the securities laws of the state of the
exercising holder, or an exemption from registration is available. Notwithstanding the foregoing, if a registration statement
covering the Class A common stock issuable upon exercise of the warrants is not effective within a specified period following
the consummation of our initial business combination, warrant holders may, until such time as there is an effective registration
statement and during any period when we shall have failed to maintain an effective registration statement, exercise warrants on
a cashless basis pursuant to the exemption provided by Section 3(a)(9) of the Securities Act of 1933, as amended, or the Securities
Act, provided that such exemption is available. If that exemption, or another exemption, is not available, holders will not be
able to exercise their warrants on a cashless basis. We will use our best efforts to register or qualify the shares under applicable
blue sky laws to the extent an exemption is not available. In no event will we be required to net cash settle any warrant, or
issue securities or other compensation in exchange for the warrants in the event that we are unable to register or qualify the
shares underlying the warrants under applicable state securities laws and there is no exemption available. If the issuance of
the shares upon exercise of the warrants is not so registered or qualified or exempt from registration or qualification, the holder
of such warrant will not be entitled to exercise such warrant and such warrant may have no value and expire worthless. In such
event, holders who acquired their warrants as part of a purchase of units will have paid the full unit purchase price solely for
the shares of Class A common stock included in the units. If and when the warrants become redeemable by us, we may not exercise
our redemption right if the issuance of shares of common stock upon exercise of the warrants is not exempt from registration or
qualification under applicable state blue sky laws or we are unable to effect such registration or qualification. We will use
our best efforts to register or qualify such shares of common stock under the blue sky laws of the state of residence in those
states in which the warrants were offered by us in this offering. However, there may be instances in which holders of our public
warrants may be unable to exercise such public warrants but holders of our private warrants may be able to exercise such private
warrants.
If you exercise your public warrants on a "cashless
basis," you will receive fewer shares of Class A common stock from such exercise than if you were to exercise such warrants
for cash.
There are circumstances in which the exercise
of the public warrants may be required or permitted to be made on a cashless basis. First, if a registration statement covering
the shares of Class A common stock issuable upon exercise of the warrants is not effective by the 60
th
business day
after the closing of our initial business combination, warrantholders may, until such time as there is an effective registration
statement, exercise warrants on a cashless basis in accordance with Section 3(a)(9) of the Securities Act or another exemption.
Second, if a registration statement covering the Class A common stock issuable upon exercise of the warrants is not effective
within a specified period following the consummation of our initial business combination, warrant holders may, until such time
as there is an effective registration statement and during any period when we shall have failed to maintain an effective registration
statement, exercise warrants on a cashless basis pursuant to the exemption provided by Section 3(a)(9) of the Securities
Act, provided that such exemption is available; if that exemption, or another exemption, is not available, holders will not be
able to exercise their warrants on a cashless basis. Third, if we call the public warrants for redemption, our management will
have the option to require all holders that wish to exercise warrants to do so on a cashless basis. In the event of an exercise
on a cashless basis, a holder would pay the warrant exercise price by surrendering the warrants for that number of shares of Class
A common stock equal to the quotient obtained by dividing (x) the product of the number of shares of Class A common stock underlying
the warrants, multiplied by the difference between the exercise price of the warrants and the "fair market value"
(as defined in the next sentence) by (y) the fair market value. The "fair market value" is the average reported last
sale price of the Class A common stock for the 10 trading days ending on the third trading day prior to the date on which the
notice of exercise is received by the warrant agent or on which the notice of redemption is sent to the holders of warrants, as
applicable. As a result, you would receive fewer shares of Class A common stock from such exercise than if you were to exercise
such warrants for cash.
Our warrant agreement
will designate the courts of the State of New York or the United States District Court for the Southern District of New York as
the sole and exclusive forum for certain types of actions and proceedings that may be initiated by holders of our warrants, which
could limit the ability of warrant holders to obtain a favorable judicial forum for disputes with our company.
Our warrant agreement will provide that,
subject to applicable law, (i) any action, proceeding or claim against us arising out of or relating in any way to the warrant
agreement, including under the Securities Act, will be brought and enforced in the courts of the State of New York or the United
States District Court for the Southern District of New York, and (ii) that we irrevocably submit to such jurisdiction, which jurisdiction
shall be the exclusive forum for any such action, proceeding or claim. We will waive any objection to such exclusive jurisdiction
and that such courts represent an inconvenient forum.
Notwithstanding the foregoing, these provisions
of the warrant agreement will not apply to suits brought to enforce any liability or duty created by the Exchange Act or any other
claim for which the federal district courts of the United States of America are the sole and exclusive forum. Any person or entity
purchasing or otherwise acquiring any interest in any of our warrants shall be deemed to have notice of and to have consented
to the forum provisions in our warrant agreement. If any action, the subject matter of which is within the scope the forum provisions
of the warrant agreement, is filed in a court other than a court of the State of New York or the United States District Court
for the Southern District of New York (a "foreign action") in the name of any holder of our warrants, such holder
shall be deemed to have consented to: (x) the personal jurisdiction of the state and federal courts located in the State of New
York in connection with any action brought in any such court to enforce the forum provisions (an "enforcement action"),
and (y) having service of process made upon such warrant holder in any such enforcement action by service upon such warrant holder's
counsel in the foreign action as agent for such warrant holder.
This choice-of-forum provision may
limit a warrant holder's ability to bring a claim in a judicial forum that it finds favorable for disputes with our company,
which may discourage such lawsuits. Alternatively, if a court were to find this provision of our warrant agreement inapplicable
or unenforceable with respect to one or more of the specified types of actions or proceedings, we may incur additional costs associated
with resolving such matters in other jurisdictions, which could materially and adversely affect our business, financial condition
and results of operations and result in a diversion of the time and resources of our management and board of directors.
35
The grant of registration rights to our initial stockholders
may make it more difficult to complete our initial business combination, and the future exercise of such rights may adversely
affect the market price of our Class A common stock.
Pursuant to an agreement to be entered into
concurrently with the issuance and sale of the securities in this offering, our initial stockholders and their permitted transferees
can demand that we register the private placement warrants, the shares of Class A common stock issuable upon exercise of the founder
shares and the private placement warrants held, or to be held, by them and holders of warrants that may be issued upon conversion
of working capital loans may demand that we register such warrants or the Class A common stock issuable upon exercise of such
warrants. We will bear the cost of registering these securities. The registration and availability of such a significant number
of securities for trading in the public market may have an adverse effect on the market price of our Class A common stock. In
addition, the existence of the registration rights may make our initial business combination more costly or difficult to conclude.
This is because the stockholders of the target business may increase the equity stake they seek in the combined entity or ask
for more cash consideration to offset the negative impact on the market price of our Class A common stock that is expected when
the securities owned by our initial stockholders or holders of working capital loans or their respective permitted transferees
are registered.
Because we are neither limited to evaluating a target business
in a particular industry sector nor have we selected any specific target businesses with which to pursue our initial business
combination, you will be unable to ascertain the merits or risks of any particular target business's operations.
We are not limited to completing an initial
business combination in any industry or geographical region, although we will not, under our amended and restated certificate
of incorporation, be permitted to effectuate our initial business combination with another blank check company or similar company
with nominal operations. Because we have not yet selected or approached any specific target business with respect to a business
combination, there is no basis to evaluate the possible merits or risks of any particular target business's operations,
results of operations, cash flows, liquidity, financial condition or prospects. To the extent we complete our initial business
combination, we may be affected by numerous risks inherent in the business operations with which we combine. For example, if we
combine with a financially unstable business or an entity lacking an established record of sales or earnings, we may be affected
by the risks inherent in the business and operations of a financially unstable or a development stage entity. Although our officers
and directors will endeavor to evaluate the risks inherent in a particular target business, we cannot assure you that we will
properly ascertain or assess all of the significant risk factors or that we will have adequate time to complete due diligence.
Furthermore, some of these risks may be outside of our control and leave us with no ability to control or reduce the chances that
those risks will adversely impact a target business. We also cannot assure you that an investment in our units will ultimately
prove to be more favorable to investors than a direct investment, if such opportunity were available, in a business combination
target. Accordingly, any stockholders who choose to remain stockholders following our initial business combination could suffer
a reduction in the value of their securities. Such stockholders are unlikely to have a remedy for such reduction in value unless
they are able to successfully claim that the reduction was due to the breach by our officers or directors of a duty of care or
other fiduciary duty owed to them, or if they are able to successfully bring a private claim under securities laws that the proxy
solicitation or tender offer materials, as applicable, relating to the business combination contained an actionable material misstatement
or material omission.
36
Past performance by our management team and its affiliates
may not be indicative of future performance of an investment in the Company.
Past performance by our management team
and its affiliates is not a guarantee either (i) of success with respect to any business combination we may consummate or (ii)
that we will be able to locate a suitable candidate for our initial business combination. You should not rely on the historical
record of our management team or their affiliates' performance as indicative of our future performance of an investment
in the company or the returns the company will, or is likely to, generate going forward. Additionally, in the course of their
respective careers, members of our management team and their affiliates have been involved in businesses and transactions that
were not successful.
We may seek business combination opportunities in industries
or sectors which may or may not be outside of our management's area of expertise.
Although we intend to focus on identifying
companies in sectors where we have experience, we will consider an initial business combination outside of our management's
area of expertise if an initial business combination candidate is presented to us and we determine that such candidate offers
an attractive business combination opportunity for our company or we are unable to identify a suitable candidate in this sector
after having expanded a reasonable amount of time and effort in an attempt to do so. Although our management will endeavor to
evaluate the risks inherent in any particular business combination candidate, we cannot assure you that we will adequately ascertain
or assess all of the significant risk factors. We also cannot assure you that an investment in our units will not ultimately prove
to be less favorable to investors in this offering than a direct investment, if an opportunity were available, in an initial business
combination candidate. In the event we elect to pursue a business combination outside of the areas of our management's expertise,
our management's expertise may not be directly applicable to its evaluation or operation, and the information contained
in this prospectus regarding the areas of our management's expertise would not be relevant to an understanding of the business
that we elect to acquire. As a result, our management may not be able to adequately ascertain or assess all of the significant
risk factors. Accordingly, any stockholders who choose to remain stockholders following our initial business combination could
suffer a reduction in the value of their shares. Such stockholders are unlikely to have a remedy for such reduction in value.
Although we have identified general criteria and guidelines
that we believe are important in evaluating prospective target businesses, we may enter into our initial business combination
with a target that does not meet such criteria and guidelines, and as a result, the target business with which we enter into our
initial business combination may not have attributes entirely consistent with our general criteria and guidelines.
Although we have identified general criteria
and guidelines for evaluating prospective target businesses, it is possible that a target business with which we enter into our
initial business combination will not have all of these positive attributes. If we complete our initial business combination with
a target that does not meet some or all of these guidelines, such combination may not be as successful as a combination with a
business that does meet all of our general criteria and guidelines. In addition, if we announce a prospective business combination
with a target that does not meet our general criteria and guidelines, a greater number of stockholders may exercise their redemption
rights, which may make it difficult for us to meet any closing condition with a target business that requires us to have a minimum
net worth or a certain amount of cash. In addition, if stockholder approval of the transaction is required by law, or we decide
to obtain stockholder approval for business or other legal reasons, it may be more difficult for us to attain stockholder approval
of our initial business combination if the target business does not meet our general criteria and guidelines. If we are unable
to complete our initial business combination, our public stockholders may receive only approximately $10.00 per share on the liquidation
of our trust account and our warrants will expire worthless. In certain circumstances, our public stockholders may receive less
than $10.00 per share on the redemption of their shares. See "— If third parties bring claims against us, the proceeds
held in the trust account could be reduced and the per-share redemption amount received by stockholders may be less than $10.00
per share" and other risk factors below.
We may seek business combination opportunities with a financially
unstable business or an entity lacking an established record of revenue, cash flow or earnings, which could subject us to volatile
revenues, cash flows or earnings or difficulty in retaining key personnel.
To the extent we complete our initial business
combination with a financially unstable business or an entity lacking an established record of revenues or earnings, we may be
affected by numerous risks inherent in the operations of the business with which we combine. These risks include volatile revenues
or earnings and difficulties in obtaining and retaining key personnel. Although our officers and directors will endeavor to evaluate
the risks inherent in a particular target business, we may not be able to properly ascertain or assess all of the significant
risk factors and we may not have adequate time to complete due diligence. Furthermore, some of these risks may be outside of our
control and leave us with no ability to control or reduce the chances that those risks will adversely impact a target business.
37
We are not required to obtain a fairness opinion, and consequently,
you may have no assurance from an independent source that the price we are paying for the business is fair to our company from
a financial point of view.
Unless we complete our initial business
combination with an affiliated entity or our board cannot independently determine the fair market value of the target business
or businesses, we are not required to obtain an opinion from an independent investment banking firm or from another independent
entity that commonly renders valuation opinions that the price we are paying is fair to our company from a financial point of
view. If no opinion is obtained, our stockholders will be relying on the judgment of our board of directors, who will determine
fair market value based on standards generally accepted by the financial community. Such standards used will be disclosed in our
proxy materials or tender offer documents, as applicable, related to our initial business combination.
We may issue additional common stock or preferred stock
to complete our initial business combination or under an employee incentive plan after completion of our initial business combination.
We may also issue shares of Class A common stock upon the conversion of the Class B common stock at a ratio greater than one-to-one
at the time of our initial business combination as a result of the anti-dilution provisions contained in our amended and restated
certificate of incorporation. Any such issuances would dilute the interest of our stockholders and likely present other risks.
Our amended and restated certificate of
incorporation authorizes the issuance of up to 100,000,000 shares of Class A common stock, par value $0.0001 per share, 10,000,000
shares of Class B common stock, par value $0.0001 per share, and 1,000,000 shares of preferred stock, par value $0.0001 per share.
Immediately after this offering, there will be 77,000,000 and 6,875,000 (assuming, in each case, that the underwriters have not
exercised their over-allotment option) authorized but unissued shares of Class A common stock and Class B common stock, respectively,
available for issuance, which amount does not take into account the shares of Class A common stock reserved for issuance upon
exercise of outstanding warrants nor the shares of Class A common stock issuable upon conversion of Class B common stock. Immediately
after the consummation of this offering, there will be no shares of preferred stock issued and outstanding. Shares of Class B
common stock are convertible into shares of our Class A common stock initially at a one-for-one ratio but subject to adjustment
as set forth herein, including in certain circumstances in which we issue Class A common stock or equity-linked securities related
to our initial business combination.
We may issue a substantial number of additional
shares of common or preferred stock to complete our initial business combination or under an employee incentive plan after completion
of our initial business combination (although our amended and restated certificate of incorporation will provide that we may not
issue securities that can vote with common stockholders on matters related to our pre-initial business combination activity).
We may also issue shares of Class A common stock upon conversion of the Class B common stock at a ratio greater than one-to-one
at the time of our initial business combination as a result of the anti-dilution provisions contained in our amended and restated
certificate of incorporation. However, our amended and restated certificate of incorporation will provide, among other things,
that prior to our initial business combination, we may not issue additional shares of capital stock that would entitle the holders
thereof to (i) receive funds from the trust account or (ii) vote on any initial business combination. These provisions of our
amended and restated certificate of incorporation, like all provisions of our amended and restated certificate of incorporation,
may be amended with the approval of our stockholders. However, our executive officers, directors and director nominees have agreed,
pursuant to a written agreement with us, that they will not propose any amendment to our amended and restated certificate of incorporation
(A) to modify the substance or timing of our obligation to redeem 100% of our public shares if we do not complete our initial
business combination within 24 months from the closing of this offering or (B) with respect to any other provision relating to
stockholders' rights or pre-initial business combination activity, unless we provide our public stockholders with the opportunity
to redeem their shares of common stock upon approval of any such amendment at a per-share price, payable in cash, equal to the
aggregate amount then on deposit in the trust account, including interest (which interest shall be net of taxes payable), divided
by the number of then outstanding public shares.
38
The issuance of additional shares of common
or preferred stock:
•
may significantly
                                         dilute the equity interest of investors in this offering;
•
may subordinate
                                         the rights of holders of common stock if preferred stock is issued with rights senior
                                         to those afforded our common stock;
•
could
                                         cause a change of control if a substantial number of shares of our common stock are issued,
                                         which may affect, among other things, our ability to use our net operating loss carry
                                         forwards, if any, and could result in the resignation or removal of our present officers
                                         and directors; and
•
may adversely
                                         affect prevailing market prices for our units, Class A common stock and/or warrants.
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, or less than such amount in certain circumstances, on the liquidation of our trust account and our warrants
will expire worthless.
We anticipate that the investigation of
each specific target business and the negotiation, drafting and execution of relevant agreements, disclosure documents and other
instruments will require substantial management time and attention and substantial costs for accountants, attorneys, consultants
and others. If we decide not to complete a specific initial business combination, the costs incurred up to that point for the
proposed transaction likely would not be recoverable. Furthermore, if we reach an agreement relating to a specific target business,
we may fail to complete our initial business combination for any number of reasons including those beyond our control. Any such
event will result in a loss to us of the related costs incurred which could materially adversely affect subsequent attempts to
locate and acquire or merge with another business. If we are unable to complete our initial business combination, our public stockholders
may receive only approximately $10.00 per share on the liquidation of our trust account and our warrants will expire worthless.
In certain circumstances, our public stockholders may receive less than $10.00 per share on the redemption of their shares. See
 "— If third parties bring claims against us, the proceeds held in the trust account could be reduced and the per-share
redemption amount received by stockholders may be less than $10.00 per share" and other risk factors below.
Our ability to successfully effect our initial business
combination and to be successful thereafter will be totally dependent upon the efforts of our key personnel, some of whom may
join us following our initial business combination. The loss of key personnel could negatively impact the operations and profitability
of our post-combination business.
Our ability to successfully effect our initial
business combination is dependent upon the efforts of our key personnel. The role of our key personnel in the target business,
however, cannot presently be ascertained. Although some of our key personnel may remain with the target business in senior management
or advisory positions following our initial business combination, it is likely that some or all of the management of the target
business will remain in place. While we intend to closely scrutinize any individuals we employ after our initial business combination,
we cannot assure you that our assessment of these individuals will prove to be correct. These individuals may be unfamiliar with
the requirements of operating a company regulated by the SEC, which could cause us to have to expend time and resources helping
them become familiar with such requirements. In addition, the officers and directors of an initial business combination candidate
may resign upon completion of our initial business combination. The departure of an initial business combination target's
key personnel could negatively impact the operations and profitability of our post-combination business. The role of an initial
business combination candidate's key personnel upon the completion of our initial business combination cannot be ascertained
at this time. Although we contemplate that certain members of an initial business combination candidate's management team
will remain associated with the initial business combination candidate following our initial business combination, it is possible
that members of the management of an initial business combination candidate will not wish to remain in place. The loss of key
personnel could negatively impact the operations and profitability of our post-combination business.
39
We are dependent upon our executive officers and directors
and their departure could adversely affect our ability to operate.
Our operations are dependent upon a relatively
small group of individuals and, in particular, our executive officers and directors. We believe that our success depends on the
continued service of our executive officers and directors, at least until we have completed our initial business combination.
We do not have an employment agreement with, or key-man insurance on the life of, any of our directors or executive officers.
The unexpected loss of the services of one or more of our directors or executive officers could have a detrimental effect on us.
Our key personnel may negotiate employment or consulting
agreements as well as reimbursement of out-of-pocket expenses, if any, with a target business in connection with a particular
business combination. These agreements may provide for them to receive compensation or reimbursement for out-of-pocket expenses,
if any, following our initial business combination and as a result, may cause them to have conflicts of interest in determining
whether a particular business combination is the most advantageous.
Our key personnel may be able to remain
with the company after the completion of our initial business combination only if they are able to negotiate employment or consulting
agreements in connection with the initial business combination. Additionally, they may negotiate reimbursement of any out-of-pocket
expenses incurred on our behalf prior to the consummation of our initial business combination, should they choose to do so. Such
negotiations would take place simultaneously with the negotiation of the initial 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 initial business combination, or as reimbursement for such out-of-pocket expenses. The personal and financial
interests of such individuals may influence their motivation in identifying and selecting a target business. However, we believe
the ability of such individuals to remain with us after the completion of our initial business combination will not be the determining
factor in our decision as to whether or not we will proceed with any potential business combination. There is no certainty, however,
that any of our key personnel will remain with us after the completion of our initial business combination. We cannot assure you
that any of our key personnel will remain in senior management or advisory positions with us. The determination as to whether
any of our key personnel will remain with us will be made at the time of our initial business combination.
We may have a limited ability to assess the management of
a prospective target business and, as a result, may affect our initial business combination with a target business whose management
may not have the skills, qualifications or abilities to manage a public company, which could, in turn, negatively impact the value
of our stockholders' investment in us.
When evaluating the desirability of effecting
our initial business combination with a prospective target business, our ability to assess the target business's management
may be limited due to a lack of time, resources or information. Our assessment of the capabilities of the target's management,
therefore, may prove to be incorrect and such management may lack the skills, qualifications or abilities we suspected. Should
the target's management not possess the skills, qualifications or abilities necessary to manage a public company, the operations
and profitability of the post-combination business may be negatively impacted. Accordingly, any stockholders who choose to remain
stockholders following the initial business combination could suffer a reduction in the value of their shares. Such stockholders
are unlikely to have a remedy for such reduction in value.
Our officers and directors will allocate their time to other
businesses thereby causing conflicts of interest in their determination as to how much time to devote to our affairs. This conflict
of interest could have a negative impact on our ability to complete our initial business combination.
Our officers and directors are not required
to, and will not, commit their full time to our affairs, which may result in a conflict of interest in allocating their time between
our operations and our search for an initial business combination and their other businesses. We do not intend to have any full-time
employees prior to the completion of our initial business combination. Each of our officers is engaged in other business endeavors
for which he may be entitled to substantial compensation and our officers are not obligated to contribute any specific number
of hours per week to our affairs. Our independent directors may also serve as officers or board members for other entities. If
our officers' and directors' other business affairs require them to devote substantial amounts of time to such affairs
in excess of their current commitment levels, it could limit their ability to devote time to our affairs which may have a negative
impact on our ability to complete our initial business combination. For a complete discussion of our officers' and directors'
other business affairs, please see the section of this prospectus entitled "Management — Directors and Officers."
40
Certain of our officers and directors are now, and all of
them may in the future become, affiliated with entities engaged in business activities similar to those intended to be conducted
by us and, accordingly, may have conflicts of interest in allocating their time and determining to which entity a particular business
opportunity should be presented.
Following the completion of this offering
and until we consummate our initial business combination, we intend to engage in the business of identifying and combining with
one or more businesses. Our sponsor and officers and directors are, and may in the future become, affiliated with entities (such
as operating companies or investment vehicles) that are engaged in a similar business, and our officers and directors may become
an officer or director of another special purpose acquisition company with a class of securities intended to be registered under
the Exchange Act even before we have entered into a definitive agreement regarding our initial business combination.
Our officers and directors also may become
aware of business opportunities which may be appropriate for presentation to us and the other entities to which they owe certain
fiduciary or contractual duties.
Accordingly, they may have conflicts of
interest in determining to which entity a particular business opportunity should be presented. These conflicts may not be resolved
in our favor and a potential target business may be presented to another entity prior to its presentation to us. Our amended and
restated certificate of incorporation will provide that we renounce our interest in any corporate opportunity offered to any director
or officer unless such opportunity is expressly offered to such person solely in his or her capacity as a director or officer
of our company and such opportunity is one we are legally and contractually permitted to undertake and would otherwise be reasonable
for us to pursue, and to the extent the director or officer is permitted to refer that opportunity to us without violating another
legal obligation.
For a complete discussion of our officers'
and directors' business affiliations and the potential conflicts of interest that you should be aware of, please see the
sections of this prospectus entitled "Management — Directors and Officers," "Management — Conflicts
of Interest" and "Certain Relationships and Related Party Transactions."
Our officers, directors, security holders and their respective
affiliates may have competitive pecuniary interests that conflict with our interests.
We have not adopted a policy that expressly
prohibits our directors, officers, security holders or affiliates from having a direct or indirect pecuniary or financial interest
in any investment to be acquired or disposed of by us or in any transaction to which we are a party or have an interest. In fact,
we may enter into an initial business combination with a target business that is affiliated with our sponsor, our directors or
officers, although we do not intend to do so. We do not have a policy that expressly prohibits any such persons from engaging
for their own account in business activities of the types conducted by us. Accordingly, such persons or entities may have a conflict
between their interests and ours.
We may engage in an initial business combination with one
or more target businesses that have relationships with entities that may be affiliated with our sponsor, officers, directors or
existing holders which may raise potential conflicts of interest.
In light of the involvement of our sponsor,
officers and directors with other entities, we may decide to acquire one or more businesses affiliated with our sponsor, officers
or directors. Our directors also serve as officers and board members for other entities, including, without limitation, those
described under the section of this prospectus entitled "Management — Conflicts of Interest." Such entities
may compete with us for business combination opportunities. Our sponsor, officers and directors are not currently aware of any
specific opportunities for us to complete our initial business combination with any entities with which they are affiliated, and
there have been no preliminary discussions concerning an initial 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 an initial business combination as set forth in the section
of this prospectus entitled "Proposed Business — Selection of a Target Business and Structuring of our Initial Business
Combination" and such transaction was approved by a majority of our disinterested directors. Despite our agreement to obtain
an opinion from an independent investment banking firm or from another independent entity that commonly renders valuation opinions,
regarding the fairness to our stockholders from a financial point of view of an initial business combination with one or more
businesses affiliated with our officers, directors or existing holders, potential conflicts of interest still may exist and, as
a result, the terms of the initial business combination may not be as advantageous to our public stockholders as they would be
absent any conflicts of interest.
41
Since our sponsor, officers and directors will lose their
entire investment in us if our initial business combination is not completed, a conflict of interest may arise in determining
whether a particular business combination target is appropriate for our initial business combination.
In July 2020, our sponsor purchased 3,593,750
founder shares for an aggregate purchase price of $25,000, or approximately $0.007 per share. The number of founder shares issued
was determined based on the expectation that such founder shares would represent 20% of the outstanding shares after this offering.
The founder shares will be worthless if we do not complete an initial business combination. In addition, our sponsor has committed
to purchase an aggregate of 4,250,000 private placement warrants (or 4,625,000 private placement warrants if the over-allotment
option is exercised in full) at a price of $1.00 per warrant ($4,250,000 in the aggregate, or $4,625,000 if the over-allotment
option is exercised in full), that will also be worthless if we do not complete an initial business combination. Holders of founder
shares have agreed (A) to vote any shares owned by them in favor of any proposed initial business combination and (B) not to redeem
any founder shares in connection with a stockholder vote to approve a proposed initial business combination. In addition, we may
obtain loans from our sponsor, affiliates of our sponsor or an officer or director. The personal and financial interests of our
officers and directors may influence their motivation in identifying and selecting a target business combination, completing an
initial business combination and influencing the operation of the business following the initial business combination.
We may issue notes or other debt securities, or otherwise
incur substantial debt, to complete an initial business combination, which may adversely affect our leverage and financial condition
and thus negatively impact the value of our stockholders' investment in us.
Although we have no commitments as of the
date of this prospectus to issue any notes or other debt securities, or to otherwise incur outstanding debt following this offering,
we may choose to incur substantial debt to complete our initial business combination. We have agreed that we will not incur any
indebtedness unless we have obtained from the lender a waiver of any right, title, interest or claim of any kind in or to the
monies held in the trust account. As such, no issuance of debt will affect the per-share amount available for redemption from
the trust account. Nevertheless, the incurrence of debt could have a variety of negative effects, including:
•
default
                                         and foreclosure on our assets if our operating revenues after an initial business combination
                                         are insufficient to repay our debt obligations;
•
acceleration
                                         of our obligations to repay the indebtedness even if we make all principal and interest
                                         payments when due if we breach certain covenants that require the maintenance of certain
                                         financial ratios or reserves without a waiver or renegotiation of that covenant;
•
our immediate
                                         payment of all principal and accrued interest, if any, if the debt security is payable
                                         on demand;
•
our inability
                                         to obtain necessary additional financing if the debt security contains covenants restricting
                                         our ability to obtain such financing while the debt security is outstanding;
•
our inability
                                         to pay dividends on our common stock;
•
using
                                         a substantial portion of our cash flow to pay principal and interest on our debt, which
                                         will reduce the funds available for dividends on our common stock if declared, our ability
                                         to pay expenses, make capital expenditures and acquisitions, and fund other general corporate
                                         purposes;
•
limitations
                                         on our flexibility in planning for and reacting to changes in our business and in the
                                         industry in which we operate;
42
•
increased
                                         vulnerability to adverse changes in general economic, industry and competitive conditions
                                         and adverse changes in government regulation;
•
limitations
                                         on our ability to borrow additional amounts for expenses, capital expenditures, acquisitions,
                                         debt service requirements, and execution of our strategy; and
•
other
                                         disadvantages compared to our competitors who have less debt.
We may only be able to complete one business combination
with the proceeds of this offering and the sale of the private placement warrants which will cause us to be solely dependent on
a single business which may have a limited number of services and limited operating activities. This lack of diversification may
negatively impact our operating results and profitability.
Of the net proceeds from this offering and
the sale of the private placement warrants, $125,000,000 (or $143,750,000 if the underwriters' over-allotment option is
exercised in full) will be available to complete our initial business combination and pay related fees and expenses (which includes
up to $4,375,000, or up to $5,031,250 if the over-allotment option is exercised in full, for the payment of deferred underwriting
commissions).
We may effectuate our initial business combination
with a single target business or multiple target businesses simultaneously or within a short period of time. However, we may not
be able to effectuate our initial business combination with more than one target business because of various factors, including
the existence of complex accounting issues and the requirement that we prepare and file pro forma financial statements with the
SEC that present operating results and the financial condition of several target businesses as if they had been operated on a
combined basis. By completing our initial business combination with only a single entity, our lack of diversification may subject
us to numerous economic, competitive and regulatory 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. In addition, we intend to focus
our search for an initial business combination in a single industry. Accordingly, the prospects for our success may be:
•
solely
                                         dependent upon the performance of a single business, property or asset, or
•
dependent
                                         upon the development or market acceptance of a single or limited number of products,
                                         processes or services.
This lack of diversification may subject
us to numerous economic, competitive and regulatory risks, any or all of which may have a substantial adverse impact upon the
particular industry in which we may operate subsequent to our initial business combination.
We may attempt to simultaneously complete business combinations
with multiple prospective targets, which may hinder our ability to complete our initial business combination and give rise to
increased costs and risks that could negatively impact our operations and profitability.
If we determine to simultaneously acquire
several businesses that are owned by different sellers, we will need for each of such sellers to agree that our purchase of its
business is contingent on the simultaneous closings of the other business combinations, which may make it more difficult for us,
and delay our ability, to complete our initial business combination. We do not, however, intend to purchase multiple businesses
in unrelated industries in conjunction with our initial business combination. With multiple business combinations, we could also
face additional risks, including additional burdens and costs with respect to possible multiple negotiations and due diligence
investigations (if there are multiple sellers) and the additional risks associated with the subsequent assimilation of the operations
and services or products of the acquired companies in a single operating business. If we are unable to adequately address these
risks, it could negatively impact our profitability and results of operations.
We may attempt to
complete our initial business combination with a private company about which little information is available, which may result
in an initial business combination with a company that is not as profitable as we suspected, if at all.
In pursuing our initial business combination
strategy, we may seek to effectuate our initial business combination with a privately held company. Very little public information
generally exists about private companies, and we could be required to make our decision on whether to pursue a potential initial
business combination on the basis of limited information, which may result in an initial business combination with a company that
is not as profitable as we suspected, if at all.
43
Our management may not be able to maintain control of a
target business after our initial business combination.
We may structure an initial business combination
so that the post-transaction company in which our public stockholders own shares will own less than 100% of the equity interests
or assets of a target business, but we will only complete such business combination if the post-transaction company owns or acquires
50% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient
for us not to be required to register as an investment company under the Investment Company Act. We will not consider any transaction
that does not meet such criteria. Even if the post-transaction company owns 50% or more of the voting securities of the target,
our stockholders prior to the initial 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 initial business combination. For example, we could pursue
a transaction in which we issue a substantial number of new shares of Class A common stock in exchange for all of the outstanding
capital stock of a target. In this case, we would acquire a 100% interest in the target. However, as a result of the issuance
of a substantial number of new shares of common stock, our stockholders immediately prior to such transaction could own less than
a majority of our outstanding shares of common stock subsequent to such transaction. In addition, other minority stockholders
may subsequently combine their holdings resulting in a single person or group obtaining a larger share of the company's
stock than we initially acquired. Accordingly, this may make it more likely that our management will not be able to maintain our
control of the target business. New management may not possess the skills, qualifications or abilities necessary to profitably
operate such business.
We do not have a specified maximum redemption threshold.
The absence of such a redemption threshold may make it possible for us to complete an initial business combination with which
a substantial majority of our stockholders do not agree.
Our amended and restated certificate of
incorporation will not provide a specified maximum redemption threshold, except that in no event will we redeem our public shares
unless our net tangible assets are at least $5,000,001 either immediately prior to or upon consummation of our initial business
combination and after payment of underwriters' fees and commissions (such 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. As a result, we may be able to complete our initial business combination even though a substantial
majority of our public stockholders do not agree with the transaction and have redeemed their shares or, if we seek stockholder
approval of our initial business combination and do not conduct redemptions in connection with our initial business combination
pursuant to the tender offer rules, have entered into privately negotiated agreements to sell their shares to our sponsor, officers,
directors, advisors or their affiliates. In the event the aggregate cash consideration we would be required to pay for all shares
of Class A common stock that are validly submitted for redemption plus any amount required to satisfy cash conditions pursuant
to the terms of the proposed initial business combination exceed the aggregate amount of cash available to us, we will not complete
the initial business combination or redeem any shares, all shares of Class A common stock submitted for redemption will be returned
to the holders thereof, and we instead may search for an alternate business combination.
In order to effectuate an initial business combination,
blank check companies have, in the recent past, amended various provisions of their charters and other governing instruments,
including their warrant agreements. We cannot assure you that we will not seek to amend our amended and restated certificate of
incorporation or governing instruments in a manner that will make it easier for us to complete our initial business combination
that our stockholders may not support.
In order to effectuate an initial business
combination, blank check companies have, in the recent past, amended various provisions of their charters and modified governing
instruments, including their warrant agreements. For example, blank check companies have amended the definition of business combination,
increased redemption thresholds and extended the time to consummate an initial business combination and, with respect to their
warrants, amended their warrant agreements to require the warrants to be exchanged for cash and/or other securities. To the extent
we seek to amend our organizational documents in a way that would be deemed to fundamentally change the nature of any securities
offered through this registration statement, we would register, or seek an exemption from registration for, the affected securities.
We cannot assure you that we will not seek to amend our charter or governing instruments or extend the time to consummate an initial
business combination in order to effectuate our initial business combination.
44
The provisions of our amended and restated certificate of
incorporation that relate to our pre-business combination activity (and corresponding provisions of the agreement governing the
release of funds from our trust account), may be amended with the approval of holders of 65% of our common stock, which is a lower
amendment threshold than that of some other blank check companies. It may be easier for us, therefore, to amend our amended and
restated certificate of incorporation and the trust agreement to facilitate the completion of an initial business combination
that some of our stockholders may not support.
Our amended and restated certificate of
incorporation will provide that any of its provisions related to pre-initial business combination activity (including the requirement
to deposit proceeds of this offering and the private placement of warrants into the trust account and not release such amounts
except in specified circumstances, and to provide redemption rights to public stockholders as described herein and including to
permit us to withdraw funds from the trust account such that the per share amount investors will receive upon any redemption or
liquidation is substantially reduced or eliminated) may be amended if approved by holders of 65% of our common stock entitled
to vote thereon, and corresponding provisions of the trust agreement governing the release of funds from our trust account may
be amended if approved by holders of 65% of our common stock entitled to vote thereon. In all other instances, our amended and
restated certificate of incorporation may be amended by holders of a majority of our outstanding common stock entitled to vote
thereon, subject to applicable provisions of the DGCL or applicable stock exchange rules. We may not issue additional securities
that can vote on amendments to our amended and restated certificate of incorporation. Our initial stockholders, who will collectively
beneficially own up to 20% of our common stock upon the closing of this offering (assuming they do not purchase any units in this
offering), will participate in any vote to amend our amended and restated certificate of incorporation and/or trust agreement
and will have the discretion to vote in any manner they choose. As a result, we may be able to amend the provisions of our amended
and restated certificate of incorporation which govern our pre-initial business combination behavior more easily than some other
blank check companies, and this may increase our ability to complete an initial business combination with which you do not agree.
Our stockholders may pursue remedies against us for any breach of our amended and restated certificate of incorporation.
Our sponsor, officers and directors have
agreed, pursuant to a written agreement with us, that they will not propose any amendment to our amended and restated certificate
of incorporation (i) to modify the substance or timing of our obligation to redeem 100% of our public shares on a business combination
if we do not complete our initial business combination within 24 months from the closing of this offering or (ii) with respect
to any other provision relating to stockholders' rights or pre-initial business combination activity, unless we provide
our public stockholders with the opportunity to redeem their shares of Class A 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, divided by the number
of then outstanding public shares. These agreements are contained in a letter agreement that we have entered into with our sponsor,
officers and directors. Our stockholders are not parties to, or third-party beneficiaries of, these agreements and, as a result,
will not have the ability to pursue remedies against our sponsor, officers or directors for any breach of these agreements. As
a result, in the event of a breach, our stockholders would need to pursue a stockholder derivative action, subject to applicable
law.
We may be unable to obtain additional financing to complete
our initial business combination or to fund the operations and growth of a target business, which could compel us to restructure
or abandon a particular business combination.
We have not selected any specific business
combination target but intend to target businesses larger than we could acquire with the net proceeds of this offering and the
sale of the private placement warrants. As a result, we may be required to seek additional financing to complete such proposed
initial business combination. We cannot assure you that such financing will be available on acceptable terms, if at all. To the
extent that additional financing proves to be unavailable when needed to complete our initial business combination, we would be
compelled to either restructure the transaction or abandon that particular business combination and seek an alternative target
business candidate. Further, the amount of additional financing we may be required to obtain could increase as a result of future
growth capital needs for any particular transaction, the depletion of the available net proceeds in search of a target business,
the obligation to repurchase for cash a significant number of shares from stockholders who elect redemption in connection with
our initial business combination and/or the terms of negotiated transactions to purchase shares in connection with our initial
business combination. If we are unable to complete our initial business combination, our public stockholders may receive only
approximately $10.00 per share plus any pro rata interest earned on the funds held in the trust account and not previously released
to us to pay our taxes on the liquidation of our trust account and our warrants will expire worthless. In addition, even if we
do not need additional financing to complete our initial business combination, we may require such financing to fund the operations
or growth of the target business. The failure to secure additional financing could have a material adverse effect on the continued
development or growth of the target business. None of our officers, directors or stockholders is required to provide any financing
to us in connection with or after our initial business combination. If we are unable to complete our initial business combination,
our public stockholders may only receive approximately $10.00 per share on the liquidation of our trust account, and our warrants
will expire worthless. Furthermore, as described in the risk factor entitled "If third parties bring claims against us,
the proceeds held in the trust account could be reduced and the per-share redemption amount received by stockholders may be less
than $10.00 per share," under certain circumstances our public stockholders may receive less than $10.00 per share upon
the liquidation of the trust account.
45
Our initial stockholders may exert a substantial influence
on actions requiring a stockholder vote, potentially in a manner that you do not support.
Upon the closing of this offering, our initial
stockholders will own shares representing 20% of our issued and outstanding shares of common stock (assuming they do not purchase
any units in this offering). Accordingly, they may exert a substantial influence on actions requiring a stockholder vote, potentially
in a manner that you do not support, including amendments to our amended and restated certificate of incorporation and approval
of major corporate transactions. If our initial stockholders purchase any units in this offering or if our initial stockholders
purchase any additional shares of common stock in the aftermarket or in privately negotiated transactions, this would increase
their control. Factors that would be considered in making such additional purchases would include consideration of the current
trading price of our Class A common stock. In addition, our board of directors, whose members were elected by our initial stockholders,
is and will be divided into three classes, each of which will generally serve for a term of three years with only one class of
directors being elected in each year. We may not hold an annual meeting of stockholders to elect new directors prior to the completion
of our initial business combination, in which case all of the current directors will continue in office until at least the completion
of the initial business combination. If there is an annual meeting, as a consequence of our "staggered" board of directors,
only a minority of the board of directors will be considered for election and our initial stockholders, because of their ownership
position, will have considerable influence regarding the outcome. Accordingly, our initial stockholders will continue to exert
control at least until the completion of our initial business combination.
Our sponsor paid an aggregate of $25,000, or approximately
$0.007 per founder share, and, accordingly, you will experience immediate and substantial dilution from the purchase of our Class
B common stock.
The difference between the public offering
price per share (allocating all of the unit purchase price to the Class A common stock and none to the warrant included in the
unit) and the pro forma net tangible book value per share of our Class A common stock after this offering constitutes the dilution
to you and the other investors in this offering. Our sponsor acquired the founder shares at a nominal price, significantly contributing
to this dilution. Upon the closing of this offering, and assuming no value is ascribed to the warrants included in the units,
you and the other public stockholders will incur an immediate and substantial dilution of approximately 87.4% (or $8.74 per share,
assuming no exercise of the underwriters' over-allotment option), the difference between the pro forma net tangible book
value per share of $1.26 and the initial offering price of $10.00 per unit. In addition, because of the anti-dilution rights of
the founder shares, any equity or equity-linked securities issued or deemed issued in connection with our initial business combination
would be disproportionately dilutive to our Class A common stock.
Unlike many other similarly structured blank check companies,
our initial stockholders will receive additional shares of Class A common stock if we issue shares to consummate an initial business
combination.
The founder shares will automatically convert
into Class A common stock at the time of our initial business combination, on a one-for-one basis, subject to adjustment as provided
herein. In the case that additional shares of Class A common stock, or equity-linked securities convertible or exercisable for
Class A common stock, are issued or deemed issued in excess of the amounts offered in this prospectus and related to the closing
of the initial business combination, the ratio at which founder shares shall convert into Class A common stock will be adjusted
so that the number of shares of Class A common stock issuable upon conversion of all founder shares will equal, in the aggregate,
on an as-converted basis, 20% of the total number of all outstanding shares of common stock upon completion of the initial business
combination, excluding any shares or equity-linked securities issued, or to be issued, to any seller in the business combination
and any private placement-equivalent warrants issued to our sponsor or its affiliates upon conversion of loans made to us. This
is different from most other similarly structured blank check companies in which the initial stockholder will only be issued an
aggregate of 20% of the total number of shares to be outstanding prior to the initial business combination. Additionally, the
aforementioned adjustment will not take into account any shares of Class A common stock redeemed in connection with the business
combination. Accordingly, the holders of the founder shares could receive additional shares of Class A common stock even if the
additional shares of Class A common stock, or equity-linked securities convertible or exercisable for Class A common stock, are
issued or deemed issued solely to replace those shares that were redeemed in connection with the business combination. The foregoing
may make it more difficult and expensive for us to consummate an initial business combination.
46
We may amend the terms of the warrants in a manner that
may be adverse to holders of public warrants with the approval by the holders of at least a majority of the then outstanding public
warrants. As a result, the exercise price of your warrants could be increased, the exercise period could be shortened and the
number of shares of our Class A common stock purchasable upon exercise of a warrant could be decreased, all without your approval.
Our warrants will be issued in registered
form under a warrant agreement between Continental Stock Transfer & Trust Company, as warrant agent, and us. The warrant
agreement provides that the terms of the warrants may be amended without the consent of any holder to cure any ambiguity or correct
any mistake, including to conform the provisions of the warrant agreement to the description of the terms of the warrants and
the warrant agreement set forth in this prospectus, or correct any defective provision, but requires the approval by the holders
of at least a majority of the then outstanding public warrants to make any change that adversely affects the interests of the
registered holders of public warrants. Accordingly, we may amend the terms of the public warrants in a manner adverse to a holder
if holders of at least a majority of the then outstanding public warrants approve of such amendment. Although our ability to amend
the terms of the public warrants with the consent of at least a majority of the then outstanding public warrants is unlimited,
examples of such amendments could be amendments to, among other things, increase the exercise price of the warrants, convert the
warrants into cash or stock, shorten the exercise period or decrease the number of shares of our Class A common stock purchasable
upon exercise of a warrant.
We may redeem your unexpired warrants prior to their exercise
at a time that is disadvantageous to you, thereby making your warrants worthless.
We have the ability to redeem outstanding
warrants at any time after they become exercisable and prior to their expiration, at a price of $0.01 per warrant, provided that
the last reported sales price of our Class A common stock equals or exceeds $18.00 per share (as adjusted for stock splits, stock
dividends, reorganizations, recapitalizations and the like) for any 20 trading days within a 30 trading-day period ending on the
third trading day prior to the date on which we give proper notice of such redemption and provided certain other conditions are
met. If and when the warrants become redeemable by us, we may not exercise our redemption right if the issuance of shares of common
stock upon exercise of the warrants is not exempt from registration or qualification under applicable state blue sky laws or we
are unable to effect such registration or qualification. We will use our best efforts to register or qualify such shares of common
stock under the blue sky laws of the state of residence in those states in which the warrants were offered by us in this offering.
Redemption of the outstanding warrants could force you (i) to exercise your warrants and pay the exercise price therefor at a
time when it may be disadvantageous for you to do so, (ii) to sell your warrants at the then-current market price when you might
otherwise wish to hold your warrants or (iii) to accept the nominal redemption price which, at the time the outstanding warrants
are called for redemption, is likely to be substantially less than the market value of your warrants. None of the private placement
warrants will be redeemable by us so long as they are held by the sponsor or its permitted transferees.
47
Our warrants and founder shares may have
an adverse effect on the market price of our Class A common stock and make it more difficult to effectuate our initial business
combination.
We will be issuing warrants to purchase
6,250,000 shares of our Class A common stock (or to purchase up to 7,187,500 shares of Class A common stock if the underwriters'
over-allotment option is exercised in full) as part of the units offered by this prospectus and, simultaneously with the closing
of this offering, we will be issuing in a private placement warrants to purchase an aggregate of 4,250,000 shares (or 4,625,000
shares if the over-allotment option is exercised in full) of Class A common stock at $11.50 per share. Our initial stockholders
currently own an aggregate of 3,593,750 founder shares. The founder shares are convertible into shares of Class A common stock
on a one-for-one basis, subject to adjustment as set forth herein. In addition, if our sponsor makes any working capital loans,
up to $1,500,000 of such loans may be converted into warrants, at the price of $1.00 per warrant at the option of the lender.
Such warrants would be identical to the private placement warrants, including as to exercise price, exercisability and exercise
period.
To the extent we issue shares of Class A
common stock to effectuate an initial business combination, the potential for the issuance of a substantial number of additional
shares of Class A common stock upon exercise of these warrants and conversion rights could make us a less attractive business
combination vehicle to a target business. Any such issuance will increase the number of issued and outstanding shares of our Class
A common stock and reduce the value of the shares of Class A common stock issued to complete the initial business combination.
Therefore, our warrants and founder shares may make it more difficult to effectuate an initial business combination or increase
the cost of acquiring the target business.
The private placement warrants are identical
to the warrants sold as part of the units in this offering except that, so long as they are held by our sponsor or its permitted
transferees, (i) they will not be redeemable by us, (ii) they (including the Class A common stock issuable upon exercise
of these warrants) may not, subject to certain limited exceptions, be transferred, assigned or sold by our sponsor until 30 days
after the completion of our initial business combination and (iii) they may be exercised by the holders on a cashless basis.
Because each unit contains one-half of one redeemable warrant
and only a whole warrant may be exercised, the units may be worth less than units of other blank check companies.
Each unit contains one-half of one redeemable
warrant. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Accordingly, unless
you purchase at least two units, you will not be able to receive or trade a whole warrant. This is different from other offerings
similar to ours whose units include one share of common stock and one warrant to purchase one whole share. We have established
the components of the units in this way in order to reduce the dilutive effect of the warrants upon completion of an initial business
combination since the warrants will be exercisable in the aggregate for one half of the number of shares compared to units that
each contain a warrant to purchase one whole share, thus making us, we believe, a more attractive merger partner for target businesses.
Nevertheless, this unit structure may cause our units to be worth less than if they included a warrant to purchase one whole share.
A provision of our warrant agreement may make it more difficult
for use to consummate an initial business combination.
Unlike most blank check companies, if
(i)
we issue
                                         additional shares of Class A common stock or equity-linked securities for capital raising
                                         purposes in connection with the closing of our initial business combination at a Newly
                                         Issued Price of less than $9.20 per share;
(ii)
the aggregate gross proceeds from such issuances
                                         represent more than 60% of the total equity proceeds, and interest thereon, available
                                         for the funding of our initial business combination on the date of the consummation of
                                         our initial business combination (net of redemptions), and
(iii)
the Market Value is below $9.20 per share,
then the exercise price of the warrants
will be adjusted to be equal to 115% of the greater of the Market Value and the Newly Issued Price, and the $18.00 per share redemption
trigger price will be adjusted (to the nearest cent) to be equal to 180% of the greater of the Market Value and the Newly Issued
Price. This may make it more difficult for us to consummate an initial business combination with a target business.
48
The determination of the offering price
of our units and the size of this offering is more arbitrary than the pricing of securities and size of an offering of an operating
company in a particular industry. You may have less assurance, therefore, that the offering price of our units properly reflects
the value of such units than you would have in a typical offering of an operating company.
Prior to this offering there has been no
public market for any of our securities. The public offering price of the units and the terms of the warrants were negotiated
between us and the underwriters. In determining the size of this offering, management held customary organizational meetings with
representatives of the underwriters, both prior to our inception and thereafter, with respect to the state of capital markets,
generally, and the amount the underwriters believed they reasonably could raise on our behalf. Factors considered in determining
the size of this offering, prices and terms of the units, including the Class A common stock and warrants underlying the units,
include:
•
the history
                                         and prospects of companies whose principal business is the acquisition of other companies;
•
prior offerings of those companies;
•
our prospects for acquiring an operating
                                         business;
•
a review of debt to equity ratios in leveraged
                                         transactions;
•
our capital structure;
•
an assessment of our management and their
                                         experience in identifying operating companies;
•
general conditions of the securities markets
                                         at the time of this offering; and
•
other factors as were deemed relevant.
Although these factors were considered,
the determination of our offering price is more arbitrary than the pricing of securities of an operating company in a particular
industry since we have no historical operations or financial results.
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.
Because we must furnish our stockholders with target business
financial statements, we may lose the ability to complete an otherwise advantageous initial business combination with some prospective
target businesses.
The federal proxy rules require that a proxy
statement with respect to a vote on an initial business combination meeting certain financial significance tests include historical
and/or pro forma financial statement disclosure in periodic reports. We will include the same financial statement disclosure in
connection with our tender offer documents, whether or not they are required under the tender offer rules. These financial statements
may be required to be prepared in accordance with, or be reconciled to, accounting principles generally accepted in the United
States of America, or GAAP, or international financial reporting standards as issued by the International Accounting Standards
Board, or IFRS, depending on the circumstances and the historical financial statements may be required to be audited in accordance
with the standards of the Public Company Accounting Oversight Board (United States), or PCAOB. These financial statement requirements
may limit the pool of potential target businesses we may acquire because some targets may be unable to provide such financial
statements in time for us to disclose such statements in accordance with federal proxy rules and complete our initial business
combination within the prescribed time frame.
49
We are an "emerging growth company"
and "smaller reporting company" within the meaning of the Securities Act, and if we take advantage of certain exemptions
from disclosure requirements available to emerging growth companies and smaller reporting companies, this could make our securities
less attractive to investors and may make it more difficult to compare our performance with other public companies.
We are an "emerging growth company"
within the meaning of the Securities Act, as modified by the JOBS Act, and we 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 our periodic reports and proxy statements, and exemptions from the
requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute
payments not previously approved. As a result, our stockholders may not have access to certain information they may deem important.
We could be an emerging growth company for up to five years, although circumstances could cause us to lose that status earlier,
including if the market value of our Class A common stock held by non-affiliates exceeds $700 million as of any June 30 before
that time, in which case we would no longer be an emerging growth company as of the following December 31. We cannot predict whether
investors will find our securities less attractive because we will rely on these exemptions. If some investors find our securities
less attractive as a result of our reliance on these exemptions, the trading prices of our securities may be lower than they otherwise
would be, there may be a less active trading market for our securities and the trading prices of our securities may be more volatile.
Further, Section 102(b)(1) of the JOBS Act
exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private
companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class
of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards.
The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that
apply to non-emerging growth companies but any such an election to opt out is irrevocable. We have elected not to opt out of such
extended transition period, which means that when a standard is issued or revised and it has different application dates for public
or private companies, we, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt
the new or revised standard. This may make comparison of our financial statements with another public company which is neither
an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult
or impossible because of the potential differences in accounting standards used.
Additionally, we are a "smaller reporting
company" as defined in Rule 10(f)(1) of Regulation S-K. Smaller reporting companies may take advantage of certain reduced
disclosure obligations, including, among other things, providing only two years of audited financial statements. We will remain
a smaller reporting company until the last day of the fiscal year in which (1) the market value of our common stock held by non-affiliates
exceeds $250 million as of the prior June 30th, or (2) our annual revenues exceed $100 million during such completed fiscal year
and the market value of our common stock held by non-affiliates exceeds $700 million as of the prior June 30th. To the extent
we take advantage of such reduced disclosure obligations, it may also make comparison of our financial statements with other public
companies difficult or impossible.
50
Compliance obligations under the Sarbanes-Oxley Act may
make it more difficult for us to effectuate our initial business combination, require substantial financial and management resources,
and increase the time and costs of completing an initial business combination.
Section 404 of the Sarbanes-Oxley Act requires
that we evaluate and report on our system of internal controls beginning with our Annual Report on Form 10-K for the year ending
December 31, 2021. Only in the event we are deemed to be a large accelerated filer or an accelerated filer, and no longer qualify
as an emerging growth company, will we be required to comply with the independent registered public accounting firm attestation
requirement on our internal control over financial reporting. Further, for as long as we remain an emerging growth company, we
will not be required to comply with the independent registered public accounting firm attestation requirement on our internal
control over financial reporting. The fact that we are a blank check company makes compliance with the requirements of the Sarbanes-Oxley
Act particularly burdensome on us as compared to other public companies because a target company with which we seek to complete
our initial business combination may not be in compliance with the provisions of the Sarbanes-Oxley Act regarding adequacy of
its internal controls. The development of the internal control of any such entity to achieve compliance with the Sarbanes-Oxley
Act may increase the time and costs necessary to complete any such business combination.
Provisions in our amended and restated certificate of incorporation
and Delaware law may inhibit a takeover of us, which could limit the price investors might be willing to pay in the future for
our Class A common stock and could entrench management.
Our amended and restated certificate of
incorporation will contain provisions that may discourage unsolicited takeover proposals that stockholders may consider to be
in their best interests. These provisions include a staggered board of directors and the ability of the board of directors to
designate the terms of and issue new series of preferred shares, which may make the removal of management more difficult 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 the removal of management
more difficult and may discourage transactions that otherwise could involve payment of a premium over prevailing market prices
for our securities.
Our amended and restated certificate of incorporation will
require, to the fullest extent permitted by law, that derivative actions brought in our name, actions against our directors, officers,
other employees or stockholders for breach of fiduciary duty and certain other actions may be brought only in the Court of Chancery
in the State of Delaware and, if brought outside of Delaware, the stockholder bringing the suit will, subject to certain exceptions,
be deemed to have consented to service of process on such stockholder's counsel, which may have the effect of discouraging
lawsuits against our directors, officers, other employees or stockholders.
Our amended and restated certificate of
incorporation will require, to the fullest extent permitted by law, that (i) any derivative action or proceeding brought
on our behalf, (ii) any action asserting a claim of breach of a fiduciary duty owed by any director, officer or other employee
to us or our stockholders, (iii) any action asserting a claim against us, our directors, officers or employees arising pursuant
to any provision of the DGCL or our amended and restated certificate of incorporation or bylaws, or (iv) any action asserting
a claim against us, our directors, officers or employees governed by the internal affairs doctrine may be brought only in the
Court of Chancery in the State of Delaware and, if brought outside of Delaware, the stockholder bringing the suit will be deemed
to have consented to service of process on such stockholder's counsel except any action (A) as to which the Court of Chancery
in the State of Delaware determines that there is an indispensable party not subject to the jurisdiction of the Court of Chancery
(and the indispensable party does not consent to the personal jurisdiction of the Court of Chancery within ten days following
such determination), (B) which is vested in the exclusive jurisdiction of a court or forum other than the Court of Chancery or
(C) for which the Court of Chancery does not have subject matter jurisdiction. Any person or entity purchasing or otherwise acquiring
any interest in shares of our capital stock shall be deemed to have notice of and consented to the forum provisions in our amended
and restated certificate of incorporation. This choice of forum provision may limit or make more costly a stockholder's
ability to bring a claim in a judicial forum that it finds favorable for disputes with us or any of our directors, officers, other
employees or stockholders, which may discourage lawsuits with respect to such claims. Alternatively, if a court were to find the
choice of forum provision contained in our amended and restated certificate of incorporation to be inapplicable or unenforceable
in an action, we may incur additional costs associated with resolving such action in other jurisdictions, which could harm our
business, operating results and financial condition.
51
Notwithstanding the foregoing, our amended
and restated certificate of incorporation will provide that the exclusive forum provision will be applicable to the fullest extent
permitted by applicable law, subject to certain exceptions. Section 27 of the Exchange Act creates exclusive federal jurisdiction
over all suits brought to enforce any duty or liability created by the Exchange Act or the rules and regulations thereunder. As
a result, the exclusive forum provision will not apply to suits brought to enforce any duty or liability created by the Exchange
Act or any other claim for which the federal courts have exclusive jurisdiction.
Additionally, unless we consent in writing
to the selection of an alternative forum, the federal courts shall be the exclusive forum for the resolution of any complaint
asserting a cause of action arising under the Securities Act against us or any of our directors, officers, other employees or
agents. Section 22 of the Securities Act, however, created concurrent jurisdiction for federal and state courts over all suits
brought to enforce any duty or liability created by the Securities Act or the rules and regulations thereunder. Accordingly, there
is uncertainty as to whether a court would enforce such provisions, and the enforceability of similar choice of forum provisions
in other companies' charter documents has been challenged in legal proceedings. While the Delaware courts have determined
that such exclusive forum provisions are facially valid, a stockholder may nevertheless seek to bring a claim in a venue other
than those designated in the exclusive forum provisions, and there can be no assurance that such provisions will be enforced by
a court in those other jurisdictions. Any person or entity purchasing or otherwise acquiring any interest in our securities shall
be deemed to have notice of an consented to these provisions; however, we note that investors cannot waive compliance with the
federal securities laws and the rules and regulations thereunder.
Although we believe this provision benefits
us by providing increased consistency in the application of Delaware law in the types of lawsuits to which it applies, the provision
may limit our stockholders' ability to obtain a favorable judicial forum for disputed with us and may have the effect of
discouraging lawsuits against our directors and officers.
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.
Investments in post-restructured equities are subject to
various risks
Business combinations with post-restructured
entities 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:
·
investments
                                         in such companies are speculative, prices are volatile, and market movements are difficult
                                         to predict;
·
supply
                                         and demand for distressed securities change rapidly and are affected by a variety of
                                         market factors over which we have no control and which may reduce the pool of profitable
                                         investment opportunities;
52
·
our
                                         ability to identify undervalued investment opportunities that fit our business strategy
                                         involves a high degree of uncertainty, and no assurance can be given that we will be
                                         able to identify such opportunities;
·
such
                                         investments may take a substantial period of time before realizing their anticipated
                                         value and returns generated from such investments may not adequately compensate for the
                                         business and financial risks assumed; and
·
there
                                         is no guarantee that we will be able to achieve our investment objectives or provide
                                         any return on invested capital.
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 post-restructured entities. Accordingly, if we acquire a target business that is not a post-restructured entity,
it is possible that these specific risks would not affect us in the same manner, but we would be subject to other risks attendant
with the specific industry in which we operate or target business which we acquire, none of which can be presently ascertained.
If we effect our initial business combination with a company
with operations or opportunities outside of the United States, we would be subject to a variety of additional risks that may negatively
impact our operations.
If we effect our initial business combination
with a company with operations or opportunities outside of the United States, we would be subject to any special considerations
or risks associated with companies operating in an international setting, including any of the following:
•
higher
                                         costs and difficulties inherent in managing cross-border business operations and complying
                                         with different commercial and legal requirements of overseas markets;
•
rules
                                         and regulations regarding currency redemption;
•
complex
                                         corporate withholding taxes on individuals;
•
laws
                                         governing the manner in which future business combinations may be effected;
•
tariffs
                                         and trade barriers;
•
regulations
                                         related to customs and import/export matters;
•
longer
                                         payment cycles and challenges in collecting accounts receivable;
•
tax issues,
                                         including but not limited to tax law changes and variations in tax laws as compared to
                                         the United States;
•
currency
                                         fluctuations and exchange controls;
•
rates
                                         of inflation;
•
cultural
                                         and language differences;
•
employment
                                         regulations;
•
changes
                                         in industry, regulatory or environmental standards within the jurisdictions where we
                                         operate;
•
crime,
                                         strikes, riots, civil disturbances, terrorist attacks, natural disasters and wars;
•
deterioration
                                         of political relations with the United States; and
•
government
                                         appropriations of assets.
We may not be able to adequately address
these additional risks. If we were unable to do so, our operations might suffer, which may adversely impact our results of operations
and financial condition.
53
CAUTIONARY NOTE
REGARDING FORWARD-LOOKING STATEMENTS
Certain statements in this prospectus may
constitute "forward-looking statements" for purposes of the federal securities laws. Our forward-looking statements
include, but are not limited to, statements regarding our or our management team's expectations, hopes, beliefs, intentions
or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations
of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate,"
 "believe," "continue," "could," "estimate," "expect," "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 select an appropriate target business or businesses;
•
our ability
                                         to complete our initial business combination, particularly in light of disruption that
                                         may result from limitations imposed by the COVID-19 outbreak;
•
our expectations
                                         around the performance of the prospective target business or businesses;
•
our success
                                         in retaining or recruiting, or changes required in, our officers, key employees or directors
                                         following our initial business combination;
•
our officers
                                         and directors allocating their time to other businesses and potentially having conflicts
                                         of interest with our business or in approving our initial business combination, as a
                                         result of which they would then receive expense reimbursements;
•
our potential
                                         ability to obtain additional financing to complete our initial business combination;
•
our pool
                                         of prospective target businesses;
•
the ability
                                         of our officers and directors to generate a number of potential acquisition opportunities;
•
our public
                                         securities' potential liquidity and trading;
•
the lack
                                         of a market for our securities;
•
the use
                                         of proceeds not held in the trust account
•
the trust
                                         account not being subject to claims of third parties; or
•
our financial
                                         performance following this offering.
The forward-looking statements contained
in this prospectus are based on our current expectations and beliefs concerning future developments and their potential effects
on us. There can be no assurance that future developments affecting us will be those that we have anticipated. These forward-looking
statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause
actual results or performance to be materially different from those expressed or implied by these forward-looking statements.
These risks and uncertainties include, but are not limited to, those factors described under the section of this prospectus entitled
 "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.
54
USE OF PROCEEDS
We are offering 12,500,000 units at an offering
price of $10.00 per unit. We estimate that the net proceeds of this offering together with the funds we will receive from the
sale of the private placement warrants will be used as set forth in the following table.
Without
Over-Allotment
Option
Over-Allotment
Option
Exercised
Gross
    proceeds
Gross
    proceeds from units offered to public
$
125,000,000
$
143,750,000
Gross
    proceeds from private placement warrants offered in the private placement
4,250,000
4,625,000
Total gross
    proceeds
$
129,250,000
$
148,375,000
Offering
    expenses
(1)
Underwriting
    commissions (2% of gross proceeds from units offered to public, excluding deferred portion)
(2)
$
2,500,000
$
2,875,000
Legal fees
    and expenses
225,000
225,000
Accounting
    fees and expenses
40,000
40,000
SEC/FINRA Expenses
38,000
38,000
Travel and
    road show
20,000
20,000
Nasdaq listing
    and filing fees
75,000
75,000
Director and
    Officer liability insurance premiums
125,000
125,000
Printing and
    engraving expenses
40,000
40,000
Miscellaneous
(3)
187,000
187,000
Total offering
    expenses (other than underwriting commissions)
$
750,000
$
750,000
Proceeds
    after offering expenses
$
126,000,000
$
144,750,000
Held in trust
    account
$
125,000,000
$
143,750,000
% of public
    offering size
100
%
100
%
Not
    held in trust account
$
1,000,000
$
1,000,000
The following table shows the use of the
approximately $1,000,000 of net proceeds not held in the trust account
(3)
.
Amount
%
    of Total
Due
    diligence (excluding accounting and legal due diligence) of prospective target(s)
$
200,000
20.0
%
Legal and accounting
    expenses attendant to the due diligence investigations, structuring and negotiations of an initial business transaction
100,000
10.0
%
Legal and accounting
    related to regulatory reporting requirements
150,000
15.0
%
Payment for
    office space, utilities and secretarial and administrative support
240,000
24.0
%
Other
    miscellaneous expenses, listing fees and liquidation reserves
310,000
31.0
%
Total
$
1,000,000
100.0
%
55
(1)
A portion
                                         of the offering expenses have been paid from the proceeds of loans from our sponsor of
                                         up to $300,000 as described in this prospectus. As of August 17, 2020, we borrowed $60,266
                                         under the promissory note with our sponsor. These loans will be repaid upon completion
                                         of this offering out of the proceeds that have been allocated for the payment of offering
                                         expenses (other than underwriting commissions) and amounts not to be held in the trust
                                         account. In the event that offering expenses are less than as set forth in this table,
                                         any such amounts will be used for post-closing working capital expenses. In the event
                                         that the offering expenses are more than as set forth in this table, we may fund such
                                         excess with funds not held in the trust account.
(2)
The underwriters
                                         have agreed to defer underwriting commissions equal to 3.5% of the gross proceeds of
                                         this offering. Upon completion of our initial business combination, $4,375,000 (or $5,031,250
                                         if the over-allotment option is exercised in full), which constitutes the underwriters'
                                         deferred commissions will be paid to the underwriters from the funds held in the trust
                                         account, and the remaining funds, less amounts released by the trustee to pay redeeming
                                         shareholders, will be released to us and can be used to pay all or a portion of the purchase
                                         price of the business or businesses with which our initial business combination occurs
                                         or for general corporate purposes, including payment of principal or interest on indebtedness
                                         incurred in connection with our initial business combination, to fund the purchases of
                                         other companies or for working capital. The underwriters will not be entitled to any
                                         interest accrued on the deferred underwriting discounts and commissions.
(3)
These expenses
                                         are estimates only. Our actual expenditures for some or all of these items may differ
                                         from the estimates set forth herein. For example, we may incur greater legal and accounting
                                         expenses than our current estimates in connection with negotiating and structuring our
                                         initial business combination based upon the level of complexity of such business combination.
                                         In the event we identify an initial business combination target in a specific industry
                                         subject to specific regulations, we may incur additional expenses associated with legal
                                         due diligence and the engagement of special legal counsel. In addition, our staffing
                                         needs may vary and as a result, we may engage a number of consultants to assist with
                                         legal and financial due diligence. We do not anticipate any change in our intended use
                                         of proceeds, other than fluctuations among the current categories of allocated expenses,
                                         which fluctuations, to the extent they exceed current estimates for any specific category
                                         of expenses, would not be available for our expenses.
Of the net proceeds of this offering and
the sale of the private placement warrants, $125,000,000 (or $143,750,000 if the underwriters' over-allotment option is
exercised in full), including $4,375,000 (or $5,031,250 if the over-allotment option is exercised in full) of deferred underwriting
commissions, will be placed in a trust account in the United States at J.P. Morgan Chase Bank, N.A., with Continental Stock
Transfer & Trust Company acting as trustee, and will be invested only in U.S. government treasury bills with a maturity
of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company
Act which invest only in direct U.S. government treasury obligations. We estimate that the interest earned on the trust account
will be approximately $625,000 per year, assuming an interest rate of 0.5% per year; however, we can provide no assurance regarding
this amount. Except with respect to interest earned on the funds held in the trust account that may be released to us to pay our
tax obligations (and the up to $100,000 of interest which may be released to us pay dissolution expenses if we are unable to complete
our initial business combination), the proceeds from this offering and the sale of the private placement warrants will not be
released from the trust account until the earliest to occur of: (a) the completion of our initial business combination, (b) the
redemption of any public shares properly submitted in connection with a stockholder vote to amend our amended and restated certificate
of incorporation (A) to modify the substance or timing of our obligation to redeem 100% of our public shares if we do not
complete our initial business combination within 24 months from the closing of this offering or (B) with respect to any other
provision relating to stockholders' rights or pre-initial business combination activity, and (c) the redemption of
our public shares if we are unable to complete our initial business combination within 24 months from the closing of this offering,
subject to applicable law.
The net proceeds held in the trust account
may be used as consideration to pay the sellers of a target business with which we ultimately complete our initial business combination.
If our initial business combination is paid for using equity or debt securities, or not all of the funds released from the trust
account are used for payment of the consideration in connection with our initial business combination, we may apply the balance
of the cash released from the trust account for general corporate purposes, including for maintenance or expansion of operations
of the post-transaction company, the payment of principal or interest due on indebtedness incurred in completing our initial business
combination, to fund the purchase of other companies or for working capital. There is no limitation on our ability to raise funds
privately or through loans in connection with our initial business combination.
56
We believe that amounts not held in trust
will be sufficient to pay the costs and expenses to which such proceeds are allocated. This belief is based on the fact that while
we may begin preliminary due diligence of a target business in connection with an indication of interest, we intend to undertake
in-depth due diligence, depending on the circumstances of the relevant prospective business combination, only after we have negotiated
and signed a letter of intent or other preliminary agreement that addresses the terms of an initial business combination. However,
if our estimate of the costs of undertaking in-depth due diligence and negotiating an 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. If we are required to seek additional capital, we could seek such additional capital through loans
or additional investments from our sponsor, members of our management team or their affiliates, but such persons are not under
any obligation to advance funds to, or invest in, us.
Commencing on the date of this prospectus,
we have agreed to pay our sponsor a total of $10,000 per month for office space, utilities and secretarial and administrative
support. Upon completion of our initial business combination or our liquidation, we will cease paying these monthly fees. Prior
to the closing of this offering, our sponsor has agreed to loan us up to $300,000 to be used for a portion of the expenses of
this offering As of August 17, 2020, we borrowed $60,266 under the promissory note with our sponsor to be used for a portion of
the expenses of this offering. These loans are non-interest bearing, unsecured and are due at the earlier of March 31, 2021
or the closing of this offering. The loan will be repaid upon the closing of this offering out of offering proceeds not held in
the trust account.
In addition, in order to finance transaction
costs in connection with an intended initial business combination, our sponsor or an affiliate of our sponsor or certain of our
officers and directors may, but are not obligated to, loan us funds as may be required. If we complete our initial business combination,
we would repay such loaned amounts out of the proceeds of the trust account released to us. Otherwise, such loans would be repaid
only out of funds held outside the trust account. In the event that our initial business combination does not close, we may use
a portion of the working capital held outside the trust account to repay such loaned amounts but no proceeds from our trust account
would be used to repay such loaned amounts. Up to $1,500,000 of such loans may be convertible into warrants, at a price of $1.00
per warrant at the option of the lender. The warrants would be identical to the private placement warrants, including as to exercise
price, exercisability and exercise period. The terms of such loans by our officers and directors, if any, have not been determined
and no written agreements exist with respect to such loans. We do not expect to seek loans from parties other than our sponsor
or an affiliate of our sponsor as we do not believe third parties will be willing to loan such funds and provide a waiver against
any and all rights to seek access to funds in our trust account.
Any of the foregoing payments to our sponsor,
repayments of loans from our sponsor or repayments of working capital loans prior to our initial business combination will be
made using funds held outside the trust account.
If we seek stockholder approval of our initial
business combination and we do not conduct redemptions in connection with our initial business combination pursuant to the tender
offer rules, our sponsor, initial stockholders, directors, officers, advisors or their affiliates may purchase shares or public
warrants in privately negotiated transactions or in the open market either prior to or following the completion of our initial
business combination. There is no limit on the number of shares our initial stockholders, directors, officers, advisors or their
affiliates may purchase in such transactions, subject to compliance with applicable law and Nasdaq rules. 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. If they engage in such transactions, they will not make any such purchases when they are in possession of any
material nonpublic information not disclosed to the seller or if such purchases are prohibited by Regulation M under the Exchange
Act. 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. Any such purchases will be reported pursuant to Section 13 and Section 16 of the Exchange Act to the
extent such purchasers are subject to such reporting requirements. None of the funds held in the trust account will be used to
purchase shares or public warrants in such transactions prior to completion of our initial business combination. See "Proposed
Business — Permitted purchases of our securities" for a description of how our sponsor, initial stockholders,
directors, officers, advisors or any of their affiliates will select which stockholders to purchase securities from in any private
transaction.
57
The purpose of any such purchases of shares
could be to vote such shares in favor of the initial business combination and thereby increase the likelihood of obtaining stockholder
approval of the initial business combination or to satisfy a closing condition in an agreement with a target that requires us
to have a minimum net worth or a certain amount of cash at the closing of our initial business combination, where it appears that
such requirement would otherwise not be met. The purpose of any such purchases of public warrants could be to reduce the number
of public warrants outstanding or to vote such warrants on any matters submitted to the warrantholders for approval in connection
with our initial business combination. Any such purchases of our securities may result in the completion of our initial business
combination that may not otherwise have been possible. In addition, if such purchases are made, the public "float"
of our shares of Class A common stock or warrants 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.
In no event will we redeem our public shares
unless our net tangible assets are at least $5,000,001 either immediately prior to or upon consummation of our initial business
combination and after payment of underwriters' fees and commissions (so that we are not subject to the SEC's "penny
stock" rules) and the agreement for our initial business combination may require as a closing condition that we have a minimum
net worth or a certain amount of cash. If too many public stockholders exercise their redemption rights so that we cannot satisfy
the net tangible asset requirement or any net worth or cash requirements, we would not proceed with the redemption of our public
shares or the initial business combination, and instead may search for an alternate business combination.
A public stockholder will be entitled to
receive funds from the trust account only upon the earliest to occur of: (i) our completion of an initial business combination,
(ii) the redemption of any public shares properly submitted in connection with a stockholder vote to amend our amended and
restated certificate of incorporation (A) to modify the substance or timing of our obligation to redeem 100% of our public
shares if we do not complete our initial business combination within 24 months from the closing of this offering or (B) with
respect to any other provision relating to stockholders' rights or pre-initial business combination activity, and (iii) the
redemption of our public shares if we are unable to complete our initial business combination within 18 months following the closing
of this offering, subject to applicable law and as further described herein and any limitations (including but not limited to
cash requirements) created by the terms of the proposed initial business combination. In no other circumstances will a public
stockholder have any right or interest of any kind to or in the trust account.
Our sponsor, officers and directors have
entered into a letter agreement with us, pursuant to which they have agreed to waive their redemption rights with respect to any
founder shares and any public shares held by them in connection with the completion of our initial business combination. In addition,
our initial stockholders have agreed to waive their rights to liquidating distributions from the trust account with respect to
any founder shares held by them if we fail to complete our initial business combination within the prescribed time frame. However,
if our sponsor or any of our officers, directors or affiliates acquires public shares in or after this offering, they will be
entitled to liquidating distributions from the trust account with respect to such public shares if we fail to complete our initial
business combination within the prescribed time frame.
58
DIVIDEND
POLICY
We have not paid any cash dividends on our
common stock to date and do not intend to pay cash dividends prior to the completion of our initial business combination. The
payment of cash dividends in the future will be dependent upon our revenues and earnings, if any, capital requirements and general
financial condition subsequent to completion of our initial business combination. If we increase or decrease the size of the offering
we will effect a stock dividend or a share contribution back to capital or other appropriate mechanism, as applicable, with respect
to our Class B common stock immediately prior to the consummation of the offering in such amount as to maintain the ownership
of our initial stockholders at 20.0% of the issued and outstanding shares of our common stock upon the consummation of 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.
59
DILUTION
The difference between the public offering
price per share of Class A common stock, assuming no value is attributed to the warrants included in the units we are offering
pursuant to this prospectus or the private placement warrants, and the pro forma net tangible book value per share of our Class A
common stock after this offering constitutes the dilution to investors in this offering. Such calculation does not reflect any
dilution associated with the sale and exercise of warrants, including the private placement warrants, which would cause the actual
dilution to the public stockholders to be higher, particularly where a cashless exercise is utilized. Net tangible book value
per share is determined by dividing our net tangible book value, which is our total tangible assets less total liabilities (including
the value of Class A common stock which may be redeemed for cash), by the number of outstanding shares of our Class A
common stock.
At August 17, 2020, our net tangible book
deficit was $35,266, or approximately $(0.01) per share of common stock. After giving effect to the sale of 12,500,000 shares
of Class A common stock included in the units we are offering by this prospectus (or 14,375,000 shares of Class A common
stock if the underwriters' over-allotment option is exercised in full), the sale of the private placement warrants and the
deduction of underwriting commissions and estimated expenses of this offering, our pro forma net tangible book value at August
17, 2020 would have been $5,000,004, or approximately $1.26 per share (or $1.11 per share if the underwriters' over-allotment
option is exercised in full), representing an immediate increase in net tangible book value (as decreased by the value of the
approximately 11,664,723 shares of Class A common stock that may be redeemed for cash, or 13,474,098 shares of Class A
common stock if the underwriters' over-allotment option is exercised in full) of $1.27 per share (or $1.12 per share if
the underwriters' over-allotment option is exercised in full) to our initial stockholders as of the date of this prospectus
and dilution to public stockholders from this offering will be $8.74 per share (or $8.89 if the underwriters' over-allotment
option is exercised in full). The number of shares that may be redeemed may exceed the 11,664,723 share amount (or 13,474,098
shares if the underwriters' over-allotment option is exercised in full) so long as it would not cause our net tangible assets
to be less than $5,000,001 either immediately prior to or upon consummation of our initial business combination.
The following table illustrates the dilution
to the public stockholders on a per-share basis, assuming no value is attributed to the warrants included in the units or the
private placement warrants:
No
    exercise of
over-allotment
option
Exercise
    of
over-allotment
option in full
Public offering price
$
10.00
$
10.00
Net tangible book value before this offering
(0.01
)
(0.01
)
Increase attributable to new investors
    and private sales
1.27
1.12
Pro forma net tangible book value
    after this offering
1.26
1.11
Dilution to new investors
8.74
8.89
Percentage of dilution to new
    investors
87.40
%
88.90
%
For purposes of presentation, we have reduced
our pro forma net tangible book value after this offering (assuming no exercise of the underwriters' over-allotment option)
by $116,647,230 because holders of up to approximately 93.3% of our public shares may redeem their shares for a pro rata share
of the aggregate amount then on deposit in the trust account at a per share redemption price equal to the amount in the trust
account as set forth in our tender offer or proxy materials (initially anticipated to be the aggregate amount held in trust two
days prior to the commencement of our tender offer or stockholders meeting, including interest earned on the funds held in the
trust account and not previously released to us to pay our taxes), divided by the number of shares of Class A common stock
sold in this offering.
60
The following table sets forth information
with respect to our initial stockholders and the public stockholders:
Shares
    Purchased
Total
    Consideration
Average Price
Number
Percentage
Amount
Percentage
Per Share
Initial
    Stockholders
(1)
3,125,000
20.0
%
$
25,000
0.02
%
$
0.008
Public Stockholders
12,500,000
80.0
%
125,000,000
99.98
%
$
10.00
15,625,000
100.0
%
$
125,025,000
100.00
%
(1)
Assumes no
                                         exercise of the underwriters' over-allotment option and the corresponding forfeiture
                                         of an aggregate of 468,750 shares of Class B common stock held by our sponsor.
The pro forma net tangible book value per
share after the offering is calculated as follows:
Without
Over-allotment
With
Over-allotment
Net tangible book value before this offer
$
(35,266
)
(35,266
)
Proceeds
    from this offering and the sale of the private placement warrants, net of expenses
(1)
126,000,000
144,750,000
Offering costs excluded from the net tangible book
    value before this offering
57,500
57,500
Less: deferred underwriters' commissions payable
(4,375,000
)
(5,031,25
)
Less:
    amount of Class A common stock subject to redemption to maintain net tangible assets of $5,000,001
(2)
(116,647,230
)
(134,740,980.00
)
5,000,004
5,000,004
Denominator:
Shares of Class B common stock outstanding prior
    to this offering
3,593,750
3,593,750
Shares of Class B common stock forfeited if over-allotment
    is not exercised
(468,750
)
--
Shares of Class A common stock included in the
    units offering
12,500,000
14,375,000
Less: shares of Class A common
    stock subject to redemption
(11,664,723
)
(13,474,098
)
3,960,277
4,494,652
(1)
Expenses applied
                                         against gross proceeds include offering expenses of $750,000 and underwriting commissions
                                         of $2,500,000 (excluding deferred underwriting fees). See "Use of Proceeds."
(2)
If we seek
                                         stockholder approval of our initial business combination and we do not conduct redemptions
                                         in connection with our initial business combination pursuant to the tender offer rules,
                                         our sponsor, initial stockholders, directors, executive officers, advisors or their affiliates
                                         may purchase shares or public warrants in privately negotiated transactions or in the
                                         open market either prior to or following the completion of our initial business combination.
                                         In the event of any such purchases of our shares prior to the completion of our initial
                                         business combination, the number of shares of Class A common stock subject to redemption
                                         will be reduced by the amount of any such purchases, increasing the pro forma net tangible
                                         book value per share. See "Proposed Business — Effecting Our Initial
                                         Business Combination — Permitted Purchases of Our Securities."
61
CAPITALIZATION
The following table sets forth our capitalization
at August 17, 2020, and as adjusted to give effect to the sale of our units in this offering and the sale of the private placement
warrants and the application of the estimated net proceeds derived from the sale of such securities, assuming no exercise by the
underwriters of its over-allotment option:
August
    17, 2020
Actual
As
    Adjusted
(1)
Deferred
    underwriting commission
$
--
4,375,000
Promissory
    note to affiliate
(2)
60,266
Class A
    common stock, 11,664,723 shares subject to redemption
(3)
116,647,230
Stockholders'
    equity (deficit):
Preferred stock,
    $0.0001 par value, 1,000,000 shares authorized (actual and as adjusted); none issued or outstanding (actual and as adjusted)
Class A
    common stock, $0.0001 par value, 100,000,000 shares authorized (actual and as adjusted); none issued or outstanding (actual)
    and 835,277 shares issued and outstanding (excluding 11,664,723 shares subject to redemption) as adjusted)
84
Class B
    common stock, $0.0001 par value, 10,000,000 shares authorized (actual and as adjusted); 3,593,750 shares issued and outstanding
    (actual); 3,125,000 shares issued and outstanding (as adjusted)
(4)
359
313
Additional
    paid-in-capital
24,641
5,002,374
Accumulated
    deficit
(2,766
)
(2,766
)
Total
    Stockholders' equity:
22,234
5,000,004
Total
    capitalization
$
82,500
126,022,234
(1)
Assumes the
                                         over-allotment option has not been exercised and the resulting forfeiture of 468,750
                                         founder shares held by the sponsor has occurred.
(2)
Our sponsor
                                         has agreed to loan us up to $300,000 to be used for a portion of the expenses of this
                                         offering. As of August 17, 2020, we borrowed $60,266 under the promissory note with our
                                         sponsor to be used for a portion of the expenses of this offering.
(3)
Upon completion
                                         of our initial business combination, we will provide our stockholders with the opportunity
                                         to redeem their public shares for cash equal to their pro rata share of the aggregate
                                         amount then on deposit in the trust account as of two business days prior to the consummation
                                         of the initial business combination including interest earned on the funds held in the
                                         trust account and not previously released to us to pay our taxes, subject to the limitations
                                         described herein whereby our net tangible assets will be maintained at a minimum of $5,000,001
                                         and any limitations (including, but not limited to, cash requirements) created by the
                                         terms of the proposed business combination. The number of shares that may be redeemed
                                         may exceed this number so long as our net tangible assets are at least $5,000,001 either
                                         immediately prior to or upon consummation of our initial business combination.
(4)
Actual share
                                         amount is prior to any forfeiture of founder shares by our sponsor and as adjusted amount
                                         assumes no exercise of the underwriters' over-allotment option.
62
MANAGEMENT'S
DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Overview
We are a blank check company incorporated
as a Delaware corporation and formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase,
reorganization or similar business combination with one or more businesses. We have not selected any specific business combination
target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any
business combination target. We intend to effectuate our initial business combination using cash from the proceeds of this offering
and the private placement of the private placement warrants, the proceeds of the sale of our shares in connection with our initial
business combination (pursuant to forward purchase agreements or backstop agreements we may enter into following the consummation
of this offering or otherwise), shares issued to the owners of the target, debt issued to bank or other lenders or the owners
of the target, or a combination of the foregoing.
The issuance of additional shares in connection
with an initial business combination to the owners of the target or other investors:
•
may significantly
                                         dilute the equity interest of investors in this offering, which dilution would increase
                                         if the anti-dilution provisions in the Class B common stock resulted in the issuance
                                         of Class A shares on a greater than one-to-one basis upon conversion of the Class B
                                         common stock;
•
may subordinate
                                         the rights of holders of our common stock if preferred stock is issued with rights senior
                                         to those afforded our common stock;
•
could
                                         cause a change in control if a substantial number of shares of our common stock is issued,
                                         which may affect, among other things, our ability to use our net operating loss carry
                                         forwards, if any, and could result in the resignation or removal of our present officers
                                         and directors;
•
may have
                                         the effect of delaying or preventing a change of control of us by diluting the stock
                                         ownership or voting rights of a person seeking to obtain control of us; and
•
may adversely
                                         affect prevailing market prices for our Class A common stock and/or warrants.
Similarly, if we issue debt securities or
otherwise incur significant debt to bank or other lenders or the owners of a target, it could result in:
•
default
                                         and foreclosure on our assets if our operating revenues after an initial business combination
                                         are insufficient to repay our debt obligations;
•
acceleration
                                         of our obligations to repay the indebtedness even if we make all principal and interest
                                         payments when due if we breach certain covenants that require the maintenance of certain
                                         financial ratios or reserves without a waiver or renegotiation of that covenant;
•
our immediate
                                         payment of all principal and accrued interest, if any, if the debt security is payable
                                         on demand;
•
our inability
                                         to obtain necessary additional financing if the debt security contains covenants restricting
                                         our ability to obtain such financing while the debt security is outstanding;
•
our inability
                                         to pay dividends on our common stock;
•
using
                                         a substantial portion of our cash flow to pay principal and interest on our debt, which
                                         will reduce the funds available for dividends on our common stock if declared, our ability
                                         to pay expenses, make capital expenditures and acquisitions, and fund other general corporate
                                         purposes;
•
limitations
                                         on our flexibility in planning for and reacting to changes in our business and in the
                                         industry in which we operate;
•
increased
                                         vulnerability to adverse changes in general economic, industry and competitive conditions
                                         and adverse changes in government regulation;
63
•
limitations
                                         on our ability to borrow additional amounts for expenses, capital expenditures, acquisitions,
                                         debt service requirements, and execution of our strategy; and
•
other
                                         purposes and other disadvantages compared to our competitors who have less debt.
As indicated in the accompanying financial
statements, at August 17, 2020, we had $25,000 in cash and deferred offering costs of $57,500. Further, we expect to continue
to incur significant costs in the pursuit of our initial business combination plans. We cannot assure you that our plans to raise
capital or to complete our initial business combination will be successful.
Results of Operations and Known Trends or Future Events
We have neither engaged in any operations
nor generated any revenues to date. Our only activities since inception have been organizational activities and those necessary
to prepare for this offering. Following this offering, we will not generate any operating revenues until after completion of our
initial business combination. We will generate non-operating income in the form of interest income on cash and cash equivalents
after this offering. There has been no significant change in our financial or trading position and no material adverse change
has occurred since the date of our audited financial statements. After this offering, we expect to incur increased expenses as
a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as expenses as
we conduct due diligence on prospective business combination candidates. 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 August 17, 2020, we had $25,000 in cash and a working capital deficit of $35,266. Further, we have incurred and
expect to continue to incur significant costs in pursuit of our financing and acquisition plans. 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. Management's plans to address this uncertainty through
this offering are discussed above.
Our liquidity needs have been satisfied
prior to completion of this offering through receipt of $25,000 from the sale of the founder shares to our sponsor and up to $300,000
in loans from our sponsor under an unsecured promissory note. As of August 17, 2020, we had borrowed $60,266 under the unsecured
promissory note. We estimate that the net proceeds from (i) the sale of the units in this offering, after deducting offering
expenses of approximately $750,000 and underwriting commissions of $2,500,000, or $2,875,000 if the over-allotment option is exercised
in full) (excluding deferred underwriting commissions of $4,375,000 (or up to $5,031,250 if the underwriters' over-allotment
option is exercised in full)), and (ii) the sale of the private placement warrants for a purchase price of $4,250,000, (or
$4,625,000 if the over-allotment option is exercised in full) will be $126,000,000 (or $144,750,000 if the underwriters'
over-allotment option is exercised in full). Of this amount, $125,000,000 or $143,750,000 if the underwriters' over-allotment
option is exercised in full, including $4,375,000 (or up to $5,031,250 if the underwriters' over-allotment option is exercised
in full) in deferred underwriting commissions) will be deposited into a trust account. The funds in the trust account will be
invested only in specified U.S. government treasury bills or in specified money market funds. The remaining $1,000,000 will not
be held in the trust account. In the event that our offering expenses exceed our estimate of $750,000 we may fund such excess
with funds not to be held in the trust account. In such case, the amount of funds we intend to be held outside the trust account
would decrease by a corresponding amount. Conversely, in the event that the offering expenses are less than our estimate of $750,000,
the amount of funds we intend to be held outside the trust account would increase by a corresponding amount.
We intend to use substantially all of the
funds held in the trust account, including any amounts representing interest earned on the trust account (less deferred underwriting
commissions) to complete our initial business combination. We may withdraw interest to pay taxes. We estimate our annual franchise
tax obligations, based on the number of shares of our common stock authorized and outstanding after the completion of this offering,
to be $200,000, which is the maximum amount of annual franchise taxes payable by us as a Delaware corporation per annum, which
we may pay from funds from this offering held outside of the trust account or from interest earned on the funds held in our trust
account and released to us for this purpose. Our annual income tax obligations will depend on the amount of interest and other
income earned on the amounts held in the trust account. We expect the interest earned on the amount in the trust account will
be sufficient to pay our income taxes. To the extent that our capital stock or debt is used, in whole or in part, as consideration
to complete our initial business combination, the remaining proceeds held in the trust account will be used as working capital
to finance the operations of the target business or businesses, make other acquisitions and pursue our growth strategies.
64
Prior to the completion of our initial business
combination, we will have available to us the approximately $1,000,000 of proceeds held outside the trust account. We will use
these funds to identify and evaluate target businesses, perform business due diligence on prospective target businesses, travel
to and from the offices, plants or similar locations of prospective target businesses or their representatives or owners, review
corporate documents and material agreements of prospective target businesses, and structure, negotiate and complete an initial
business combination.
In order to fund working capital deficiencies
or finance transaction costs in connection with an intended initial business combination, our sponsor or an affiliate of our sponsor
or certain of our officers and directors may, but are not obligated to, loan us funds on a non-interest basis as may be required.
If we complete our initial business combination, we would repay such loaned amounts. In the event that our initial business combination
does not close, we may use a portion of the working capital held outside the trust account to repay such loaned amounts but no
proceeds from our trust account would be used for such repayment. Up to $1,500,000 of such loans may be convertible into warrants,
at a price of $1.00 per warrant at the option of the lender. The warrants would be identical to the private placement warrants,
including as to exercise price, exercisability and exercise period. We do not expect to seek loans from parties other than our
sponsor or an affiliate of our sponsor as we do not believe third parties will be willing to loan such funds and provide a waiver
against any and all rights to seek access to funds in our trust account.
We expect our primary liquidity requirements
during that period to include approximately $300,000 for legal, accounting, due diligence expenses attendant to the due diligence
investigations, structuring and negotiations of an initial business combinations; $150,000 for legal and accounting fees related
to regulatory reporting requirements; $240,000 for office space, utilities and secretarial and administrative support; and $310,000
for other miscellaneous expenses, listing fees and liquidation reserves. These amounts are estimates and may differ materially
from our actual expenses.
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, if our
estimates of the costs of identifying a target business, undertaking in-depth due diligence and negotiating an initial business
combination are less than the actual amount necessary to do so, we may have insufficient funds available to operate our business
prior to our initial business combination. Moreover, we may need to obtain additional financing either to complete our initial
business combination or because we become obligated to redeem a significant number of our public shares upon completion of our
initial business combination, in which case we may issue additional securities or incur debt in connection with such business
combination. In addition, we intend to target businesses larger than we could acquire with the net proceeds of this offering and
the sale of the private placement warrants, and may as a result be required to seek additional financing to complete such proposed
initial business combination. Subject to compliance with applicable securities laws, we would only complete such financing simultaneously
with the completion of our initial business combination. If we are unable to complete our initial business combination because
we do not have sufficient funds available to us, we will be forced to cease operations and liquidate the trust account. In addition,
following our initial business combination, if cash on hand is insufficient, we may need to obtain additional financing in order
to meet our obligations.
On January 30, 2020, the World Health Organization
("WHO") announced a global health emergency because of a new strain of coronavirus (the "COVID-19 outbreak").
In March 2020, the WHO classified the COVID-19 outbreak as a pandemic, based on the rapid increase in exposure globally. The full
impact of the COVID-19 outbreak continues to evolve. The impact of the COVID-19 outbreak on the Company's results of operations,
financial position and cash flows will depend on future developments, including the duration and spread of the outbreak and related
advisories and restrictions. These developments and the impact of the COVID-19 outbreak on the financial markets and the overall
economy are highly uncertain and cannot be predicted. If the financial markets and/or the overall economy are impacted for an
extended period, our results of operations, financial position and cash flows may be materially adversely affected.
Controls and Procedures
We are not currently required to maintain
an effective system of internal controls 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, 2021. Only in the
event that we are deemed to be a large accelerated filer or an accelerated filer would we be required to comply with the independent
registered public accounting firm attestation requirement. Further, for as long as we remain an emerging growth company as defined
in the JOBS Act, we intend to take advantage of certain exemptions from various reporting requirements that are applicable to
other public companies that are not emerging growth companies including, but not limited to, not being required to comply with
the independent registered public accounting firm attestation requirement.
65
Prior to the closing of this offering, we
have not completed an assessment, nor has our independent registered public accounting firm tested our systems, of internal controls.
We expect to assess the internal controls of our target business or businesses prior to the completion of our initial business
combination and, if necessary, to implement and test additional controls as we may determine are necessary in order to state that
we maintain an effective system of internal controls. A target business may not be in compliance with the provisions of the Sarbanes-Oxley
Act regarding the adequacy of internal controls. Many small and mid-sized target businesses we may consider for our initial business
combination may have internal controls that need improvement in areas such as:
•
staffing
                                         for financial, accounting and external reporting areas, including segregation of duties;
•
reconciliation
                                         of accounts;
•
proper
                                         recording of expenses and liabilities in the period to which they relate;
•
evidence
                                         of internal review and approval of accounting transactions;
•
documentation
                                         of processes, assumptions and conclusions underlying significant estimates; and
•
documentation
                                         of accounting policies and procedures.
Because it will take time, management involvement
and perhaps outside resources to determine what internal control improvements are necessary for us to meet regulatory requirements
and market expectations for our operation of a target business, we may incur significant 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.
Once our management's report on internal
controls is complete, we will retain our independent registered public accounting firm to audit and render an opinion on such
report when required by Section 404 of the Sarbanes-Oxley Act. The independent registered public accounting firm may identify
additional issues concerning a target business's internal controls while performing their audit of internal control over
financial reporting.
Quantitative and Qualitative Disclosures about Market Risk
The net proceeds of this offering and the
sale of the private placement warrants held in the trust account will be invested in U.S. government treasury 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.
Related Party Transactions
In July 2020, our sponsor purchased 3,593,750
founder shares for an aggregate purchase price of $25,000, or approximately $0.007 per share. The number of founder shares issued
was determined based on the expectation that such founder shares would represent 20% of the outstanding shares upon completion
of this offering. The per share purchase price of the founder shares was determined by dividing the amount of cash contributed
to the company by the aggregate number of founder shares issued. If we increase or decrease the size of the offering we will effect
a stock dividend or a share contribution back to capital or other appropriate mechanism, as applicable, with respect to our Class B
common stock immediately prior to the consummation of the offering in such amount as to maintain the ownership of our initial
stockholders at 20.0% of the issued and outstanding shares of our common stock upon the consummation of this offering.
Commencing on the date of this prospectus,
we have agreed to pay our sponsor or an affiliate of our sponsor a total of $10,000 per month for office space, utilities and
secretarial and administrative support. Upon completion of our initial business combination or our liquidation, we will cease
paying monthly fees.
Our sponsor, officers and directors, or
any of their respective affiliates, will be reimbursed for any out-of-pocket expenses incurred in connection with activities on
our behalf such as identifying potential target businesses and performing due diligence on suitable business combinations. Our
audit committee will review on a quarterly basis all payments that were made to our sponsor, officers, directors or our or their
affiliates and will determine which expenses and the amount of expenses that will be reimbursed. There is no cap or ceiling on
the reimbursement of out-of-pocket expenses incurred by such persons in connection with activities on our behalf.
66
Prior to the consummation of this offering,
our sponsor has agreed to loan us up to $300,000 to be used for a portion of the expenses of this offering. As of August 17, 2020,
we borrowed $60,266 under the promissory note with our sponsor to be used for a portion of the expenses of this offering. These
loans are non-interest bearing, unsecured and are due at the earlier of March 31, 2021 or the closing of this offering. The
loan will be repaid upon the closing of this offering out of the offering proceeds that has been allocated to the payment of offering
expenses (other than underwriting commissions).
In addition, in order to finance transaction
costs in connection with an intended initial business combination, our sponsor or an affiliate of our sponsor or certain of our
officers and directors may, but are not obligated to, loan us funds on a non-interest basis as may be required. If we complete
our initial business combination, we would repay such loaned amounts. In the event that our initial business combination does
not close, we may use a portion of the working capital held outside the trust account to repay such loaned amounts but no proceeds
from our trust account would be used for such repayment. Up to $1,500,000 of such loans may be convertible into warrants, at a
price of $1.00 per warrant at the option of the lender. Such warrants would be identical to the private placement warrants, including
as to exercise price, exercisability and exercise period. We do not expect to seek loans from parties other than our sponsor or
an affiliate of our sponsor as we do not believe third parties will be willing to loan such funds and provide a waiver against
any and all rights to seek access to funds in our trust account.
Any of the foregoing payments to our sponsor,
repayments of loans from our sponsor or repayments of working capital loans prior to our initial business combination will be
made using funds held outside the trust account.
Our sponsor has committed to purchase an
aggregate of 4,250,000 private placement warrants (or 4,625,000 private placement warrants if the over-allotment option is exercised
in full) at a price of $1.00 per warrant ($4,250,000 in the aggregate, or $4,625,000 if the over-allotment option is exercised
in full)in a private placement that will occur simultaneously with the closing of this offering. Each private placement warrant
entitles the holder thereof to purchase one share of our Class A common stock at a price of $11.50 per share. Our sponsor
will be permitted to transfer the private placement warrants held by it to certain permitted transferees, including our officers
and directors and other persons or entities affiliated with or related to it, but the transferees receiving such securities will
be subject to the same agreements with respect to such securities as the sponsor. Otherwise, these warrants will not, subject
to certain limited exceptions, be transferable or salable until 30 days after the completion of our initial business combination.
The private placement warrants will be non-redeemable so long as they are held by our sponsor or its permitted transferees. The
private placement warrants may also be exercised by the sponsor and its permitted transferees for cash or on a cashless basis.
Otherwise, the private placement warrants have terms and provisions that are identical to those of the warrants being sold as
part of the units in this offering, including as to exercise price, exercisability and exercise period.
Pursuant to a registration and shareholder
rights agreement we will enter into with our initial stockholders on or prior to the closing of this offering, we may be required
to register certain securities for sale under the Securities Act. These holders, and holders of warrants issued upon conversion
of working capital loans, if any, are entitled under the registration and shareholder rights agreement to make up to three demands
that we register certain of our securities held by them for sale under the Securities Act and to have the securities covered thereby
registered for resale pursuant to Rule 415 under the Securities Act. In addition, these holders have the right to include
their securities in other registration statements filed by us. We will bear the costs and expenses of filing any such registration
statements. See the section of this prospectus entitled "Certain Relationships and Related Party Transactions."
Off-Balance Sheet Arrangements; Commitments and Contractual
Obligations; Quarterly Results
As of August 17, 2020, we did not have any
off-balance sheet arrangements as defined in Item 303(a)(4)(ii) of Regulation S-K and did not have any commitments or
contractual obligations. No unaudited quarterly operating data is included in this prospectus, as we have conducted no operations
to date.
JOBS Act
On April 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.
67
Additionally, we are in the process of evaluating
the benefits of relying on the other reduced reporting requirements provided by the JOBS Act. Subject to certain conditions set
forth in the JOBS Act, if, as an "emerging growth company", we choose to rely on such exemptions we may not be required
to, among other things, (i) provide an independent registered public accounting firm's attestation report on our system
of internal controls over financial reporting pursuant to Section 404, (ii) provide all of the compensation disclosure
that may be required of non-emerging growth public companies under the Dodd-Frank Wall Street Reform and Consumer Protection Act,
(iii) comply with any requirement that may be adopted by the PCAOB regarding mandatory audit firm rotation or a supplement
to the report of independent registered public accounting firm providing additional information about the audit and the financial
statements (auditor discussion and analysis), and (iv) disclose certain executive compensation related items such as the
correlation between executive compensation and performance and comparisons of the CEO's compensation to median employee
compensation. These exemptions will apply for a period of five years following the completion of this offering or until we are
no longer an "emerging growth company," whichever is earlier.
68
PROPOSED BUSINESS
Overview
We are a newly organized blank check company
incorporated as a Delaware corporation and formed for the purpose of effecting a merger, capital stock exchange, asset acquisition,
stock purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this
prospectus as our initial business combination. We have not selected any specific business combination target and we have not,
nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination target.
While we may pursue an initial business combination target in any stage of its corporate evolution or in any industry or sector,
we intend to focus our search on companies emerging from a reorganization or distressed situation.
Management Team and Affiliates
Our management team is comprised of industry
experts, whom we believe are well-positioned to identify and evaluate distressed businesses that would benefit from their
experience of leading investment firms. We believe our management team offers extensive experience in distressed and restructuring
transactions.
Stephen C. Smith, Chairman and Chief
Executive Officer
Stephen C. Smith, our Chairman and Chief
Executive Officer, founded SGAM, an SEC registered investment advisor and a wholly-owned subsidiary of SGH, in August 2017. Mr.
Smith currently serves as SGAM's Chief Executive Officer and Chairman of its Investment Committee and oversees all of SGAM's
investing and business activities. In April 2001, Mr. Smith co-founded The Seaport Group LLC (currently known as SGH), which is
a full-service, mid-sized independent investment bank that offers capital markets advisory, sales, trading and research services.
Prior to that, from December 1999 to March 2001, Mr. Smith was a managing director at Amroc Securities, LLC, a financial service
firm, where he focused on distressed sales and trading. In June 1991, he co-founded a distressed debt broker-dealer, Libra Investments,
Inc., which was acquired by U.S. Bancorp in January 1999. Mr. Smith began his career at Merrill Lynch in 1982 and from 1984 to
1988 he ran the taxable fixed income trading desk for its unit trust department. In addition, Mr. Smith worked as a salesperson
at S.N. Phelps & Co., a financial management firm, from 1988 to 1989 and Jefferies & Company, a financial services company,
from 1989 to 1991.
Michael Ring, Chief Financial Officer
Michael Ring, our Chief Financial Officer,
has been serving as Chief Financial Officer and Chief Compliance Officer at SGAM since February 2018 and Chief Financial Officer
of Seaport Specialty Lending LLC, a specialty finance company, since August 2019. Prior to joining SGAM, he served as Chief Financial
Officer and Chief Compliance Officer at Alta Fundamental Advisers, LLC, an SEC registered investment adviser, from May 2013 to
February 2018, where he was responsible for managing all finance, compliance, and operational functions, including financial reporting,
treasury & cash management, corporate finance, regulatory compliance matters and investor relations. Prior to that, Mr. Ring
worked as Chief Financial Officer and Chief Compliance Officer for Eastwind Global Partners, an asset manager company, from March
2012 to June 2013. From May 2004 to June 2012, he worked as controller, operations manager and Chief Compliance Officer at Restoration
Capital Management LLC, an SEC registered investment adviser. Prior to Restoration Capital Management, Mr. Ring worked for State
Street Bank and Sumitomo Trust and Banking in their securities lending departments, and at Scudder Kemper Investments as a fund
accountant in 1999.
Jay Burnham, Director Nominee
Jay Burnham, our director nominee, is a
member of SGAM's Investment Committee and the Managing Member of Sunset Way LLC, an asset management company. Mr. Burnham
previously served as a Portfolio Manager and Managing Member of Armory Advisors, LLC, a special situations and distressed debt
asset management firm that is affiliated with SGAM. Prior to joining Armory Advisors, LLC, Mr. Burnham was a portfolio manager
at Cypress Management, LLC, an investment management firm, from May 2003 to June 2004. From November 2001 to May 2003, Mr. Burnham
was an Investment Manager at Rocker Management, LLC, an investment management company, where he was responsible for distressed
debt and equity investments in companies in a variety of industries and participated as a major creditor in the restructuring
of XM Satellite Radio. From April 1999 to November 2001, he was a founder and an investment manager at Reprise Capital Partners,
LLC, a distressed debt investment firm. From March 1996 to March 1999, Mr. Burnham was an Investment Manager at DDJ Capital Management,
LLC, an investment management company. From January 1995 to February 1996, he was an investment analyst at Libra Investments,
Inc., a distressed debt broker-dealer founded by our Chairman. From June 1990 to November 1994, he was an investment manager at
Paul D. Sonz Partners, an investment management company. Mr. Burnham has acted as a director of a number of public and private
companies in turnaround situations, including acting as a director of Live Entertainment, Inc. (Nasdaq: LVE), a film distribution
company that was acquired by Bain Capital in 1997 and became Artisan Entertainment, Inc., Bally's Grand, Inc. (Nasdaq: BGLV),
a gaming and entertainment company that was acquired by Bally's Entertainment Corp., and New Millennium Homes, LLC, a California
based homebuilding company.
69
Shelley
Greenhaus, Director Nominee
Shelley Greenhaus our director nominee,
is the founder and President of Whippoorwill Associates, Inc., which manages investments in corporate reorganizations, liquidations
and other related activities and was founded in December 1990. Prior to that, from 1983 to 1990, he worked as a portfolio manager
at Oppenheimer & Co. Inc., a full-service brokerage firm and investment bank, with responsibility for distressed investments.
From 1981 to 1983
,
Mr. Greenhaus became a financial analyst and portfolio manager
for the William Rosenwald Family, a family office, where he was primarily involved in analyzing and managing investments involving
corporate reorganizations, liquidations and related special situations.
He began
his business career in 1978, working as a financial analyst at Loeb, Rhoades, Hornblower & Co., a brokerage company, where
he was primarily involved in analyzing risk arbitrage opportunities and distressed securities.
From January 1999 to October 2003, Mr. Greenhaus served on the board of directors of Barneys New York, Inc. (Nasdaq: BNNY),
a fashion retailer; from October 1998 to December 2004, he served on the board of director of Marvel Enterprises, Inc. (NYSE:
MVL), a content entertainment company; and from November 1996 to December 2004, he served on the board of directors of GWI Holding,
Inc. (Garden Way), a privately held power equipment company.  In October 2017, he joined the board of directors of Commercial
Furniture Group, Inc., a commercial furnishings company.
Jeremy Hedberg,
Director Nominee
Mr. Jeremy Hedberg, our director nominee,
has worked as a Partner, Co-Chief Investment Officer and Co-Head of Corporate and Traded Credit at Värde Partners, Inc. ("Värde"),
a global alternative investment advisor currently managing $14 billion that has invested over $70 billion since inception. He
joined Värde in November 1997 and has managed Värde's liquid investing activities globally and led Värde's
significant investments in the residential mortgage sector in the U.S. He has served on a number of boards of portfolio companies
owned by the Värde funds. He has also served on many official creditors' committees and a number of adhoc committees
to restructure companies in bankruptcy, including, but not limited to, Capmark Financial Group, Inc. a commercial finance company,
Chiquita Brands International, Inc., a global fruit and food company, and Flag Telecom Holdings Ltd, a provider of international
wholesale network services. Prior to joining Värde, Jeremy worked for Goldner Hawn Johnson & Morrison, a private equity
fund specializing in middle-market leveraged buyouts, from June 1996 to October 1997. He also previously worked for Wessels, Arnold
 & Henderson, a full-service investment bank specializing in high-growth companies, from May 1994 to June 1996.
Charles Yamarone,
Director Nominee
Mr. Charles Yamarone, our director nominee,
has served as the Chief Corporate Governance and Compliance Officer of Houlihan Lokey (NYSE: HLI), a global investment bank, since
January 2016, where he advises senior management on all aspects of Houlihan Lokey's corporate governance, compliance and
internal audit, including Houlihan Lokey's initial public offering in August 2015. From January 2014 to May 2015, he was
a Managing Director in Houlihan Lokey's capital markets group, where he had been a senior investment banker since November
2009.  Between 1991 and 2009, Mr. Yamarone was a senior officer of Libra Securities, an institutional broker dealer, and
he was involved in all areas of Libra Securities' business, including capital markets, corporate finance, sales and trading,
research, legal, compliance, and operations.  From January 1996 to July 2020, Mr. Yamarone was a director of the El Paso
Electric Company (NYSE: EE), where he served as chairman of the audit committee, compensation committee and a member of the energy
and resource committee. He was the Chairman of the Board of El Paso Electric from February 2015 until July 2020. From October
2010 to June 2016, Mr. Yamarone served as a member of the board of directors, chair of the compensation committee, a member of
the executive committee and audit committee of United Continental Holdings, Inc. (NYSE: UAL).  From February 1995 to October
2010, Mr. Yamarone served as a member of the board of directors of Continental Airlines, Inc. (NYSE: CAL), where he was chairman
of the human resources committee and a member of the corporate governance committee.  He previously served as a director
of other companies, including Bally's Grand, Inc., (Nasdaq: BGLV), a gaming and entertainment company that was acquired by Bally's
Entertainment Corp., LIVE Entertainment, Inc. (Nasdaq: LVE), a film distribution company that was acquired by Bain Capital in
1997 and became Artisan Entertainment, Inc., Merry-Go-Round Enterprises, Inc. (NYSE: MGRE), a national clothing retail chain,
and Vagabond Inn Corporation, a hotel chain.
SGAM and SGH
We believe our affiliation with SGAM and
SGH and the significant financial and operational restructuring expertise of our team provide us with important competitive advantages
for sourcing, pursuing and evaluating an initial business combination within our target universe.
Stephen C. Smith, our Chairman and Chief
Executive Officer, founded SGAM, an SEC registered investment advisor and an alternative investment management firm, in August
2017. SGAM focuses on distressed, special situation and event-driven securities. Its investment objective is to achieve exceptional
risk-adjusted capital appreciation through investments in various securities of companies, which are in financial and/or legal
distress or have recently emerged from financial reorganizations or lawsuits. At the core of SGAM's strategy is deep-rooted,
credit- and equity-based fundamental analysis, leveraging the team's distressed, legal, bankruptcy and financial expertise.
SGAM believes that distressed securities can often be purchased at discounts to intrinsic value given the complexities surrounding
their restructuring. SGAM complements its liquid investment strategy with illiquid investments where it has taken an active approach
to managing such investments often through participation on credit committees, liquidating trusts and board positions.
70
Stephen C. Smith, our Chairman and Chief
Executive Officer, also founded SGH, the parent company of SGAM, in 2001. SGH is a global investment bank that has advised clients
for nearly twenty years on multi-industry distressed asset investing and capital markets advisory, sales, trading and research
services.
Past performance of our management team,
SGAM and SGH is not a guarantee either (i) of success with respect to any business combination we may consummate, or (ii) that
we will be able to identify a suitable candidate for our initial business combination. You should not rely on the historical performance
record of our management team or SGAM as indicative of our future performance. Our officers and directors have no experience with
blank check companies or special purpose acquisition companies. In addition, for a list of members of our management team and
entities for which a conflict of interest may or does exist between such persons and the company, as well as the priority that
such entity has with respect to performance of obligations and presentation of business opportunities to us, please refer to the
table and subsequent explanatory paragraph under "Management — Conflicts of Interest".
Business Strategy
Our business strategy is to identify and
complete our initial business combination with companies emerging from a reorganization or distressed situation.
The onset of COVID-19 has created an unprecedented
impact on the global economy. Certain industries may experience strain and have the ability to recover; however, others may experience
structural changes that will force companies to rethink how they conduct business. Nearly every industry is adjusting its operating
and financial paradigm to manage day-to-day business operations more effectively and safely in the current environment. Many of
these adjustments include operational and financial restructurings. The principal owners of post-restructuring companies typically
benefit from a significant reduction in liabilities, including lower financial indebtedness, employee benefit obligations, litigation
liabilities, contractual commitments and a generally lower operating cost structure. Such target companies often have underexploited
opportunities for continued growth as a result of prior under-investment. Further, based on our extensive experience, management
teams often exit restructurings with increased financial and operating discipline and with meaningful equity ownership. Given
the inefficiencies that exist in the post-reorganization market, we believe a business combination within our target universe
can be completed at a discount to its intrinsic value and publicly-traded peers.
Business Combination Criteria
Our business combination criteria will not
be limited to a particular industry or geographic sector, however, given the experience of our management team, we intend to focus
our search on companies with an enterprise value of approximately $400 million to $1.0 billion.
We have identified the following general
criteria and guidelines that we believe are consistent with our acquisition philosophy and our management's experience,
and that we believe are important in evaluating prospective business combination opportunities. We intend to use these criteria
and guidelines to evaluate business combination opportunities, but we may decide to consummate our initial business combination
with a target business that does not meet one or more of these criteria and guidelines.
·
Financial
                                         Health. We expect to seek out companies that have financially sound balance sheets but
                                         may have been troubled previously.
·
Extenuating
                                         Circumstance. We believe there are many companies – across industries – that
                                         were negatively impacted by the onset of COVID-19 pandemic, have restructured their businesses,
                                         changed their original business plans, streamlined their operations and are planning
                                         for a new phase of high growth. Other factors that may contribute to our potential target
                                         companies include previously excessive leverage, challenging industry conditions, material
                                         litigation, regulatory shifts, macroeconomic events, performance disruptions, lack of
                                         management execution or any combination thereof.
71
·
Leading
                                         Industry Market Position. We intend to pursue companies whose products or services have
                                         leading positions within their respective markets with sustainable competitive advantages
                                         and natural barriers to market entry.
·
Free
                                         Cash Flow. We will seek to acquire a company that has demonstrated or can demonstrate
                                         attractive operating margins that result in sustainable free cash flow.
·
Strong
                                         Management Team. We expect to seek out a company that has a management team that has
                                         a sustainable track record of managerial performance.
·
Favorable
                                         Industry Outlook. We will seek out target businesses that are operating in industries
                                         benefiting from unique market conditions or experiencing a favorable growth outlook.
                                         Our management team has experience investing in and operating companies across multiple
                                         industries.
·
Potential
                                         Acquisitions. We intend to evaluate companies that could benefit from strategic acquisitions
                                         to expand their market vertical.
·
Benefit
                                         from Public Company. We intend to acquire a business that can benefit from being publicly-traded
                                         and can effectively utilize broader access to capital.
These criteria are not intended to be exhaustive.
Any evaluation relating to the merits of a particular initial business combination may be based, to the extent relevant, on these
general guidelines as well as other considerations, factors and criteria that our management team may deem relevant. In the event
that we find an opportunity that has characteristics more compelling to us than the characteristics described above, we would
pursue such opportunity.
Competitive Strengths
We intend to leverage the following sources
of competitive strength in seeking to achieve our business strategy:
·
The
                                         distressed investing expertise of our management team, who have collectively participated
                                         in transactions with more than $100 billion of enterprise value.
·
Transaction
                                         expertise within our target enterprise value range.
·
Deep
                                         industry relationships that provide a substantial pipeline of acquisition opportunities,
                                         either proprietary or through affiliates.
·
The
                                         expertise of our management and board of directors as fiduciaries and directors of both
                                         asset managers investing in distressed securities and the companies in which they are
                                         invested.
·
Experience
                                         structuring complex capital markets transactions involving both private and public companies.
Our management team and professionals at
SGAM have extensive experience in identifying, investing in and partnering with operating companies that have completed a restructuring.
Over the past 20 years, since co-founding SGAM and its affiliates, Stephen C. Smith, our Chairman and Chief Executive Officer,
has been evaluating and investing in companies during the entirety of the re-organization process, including Chapter 11 bankruptcies
with notable expertise investing in post-reorganization companies. As a result, we expect to benefit from the expertise and extensive
network of contacts of both our management team and that of SGAM. The principals of SGAM and our management team have a significant
number of relationships across the restructuring industry, which includes operating executives, industry experts, investment bankers,
lawyers, consultants and advisors. We believe these relationships will provide us with acquisition opportunities across a variety
of industries. Our board of directors has significant leadership experience in driving growth and creating value in post-reorganization
companies, both public and private, ultimately leading to successful sales of such enterprises. We believe this collective experience
and success notably within the post-reorganization market will provide us an advantage with potential business combination targets
both pre- and post-transaction.
72
Our Acquisition, Investment and Post-Closing Process
In evaluating prospective business combinations,
we expect to conduct a thorough due diligence review process that will encompass, among other things: an analysis of overall industry
and competitive conditions, a review of historical financial and operating data, meetings with incumbent management and employees
and interaction with third-parties who are industry experts of facilities and assets, discussion with customers and suppliers,
legal and other reviews as we deem appropriate. We will also utilize the expertise of our management team and our sponsor's
and its affiliates' resources in analyzing and evaluating operating plans, financial projections and determining the appropriate
return expectations given the risk profile of the target business as well as the suitability of the target to become a public
company.
We are not prohibited from pursuing an initial
business combination with a company that is affiliated with our sponsor, officers, directors or their affiliates, subject to certain
approvals and consents. In the event we seek to complete our initial business combination with a company that is affiliated with
our sponsor, officers, directors or their affiliates, we, or a committee of independent directors, will obtain an opinion from
an independent investment banking firm or another independent firm that commonly renders fairness opinions that our initial business
combination is fair to us from a financial point of view.
Initial Business Combination
Nasdaq rules require that we must complete
one or more business combinations having an aggregate fair market value of at least 80% of the value of the assets held in the
trust account (excluding the deferred underwriting commissions and taxes payable on the interest earned on the trust account)
at the time of our signing a definitive agreement in connection with our initial business combination. Our board of directors
will make the determination as to the fair market value of our initial business combination. If our board of directors is not
able to independently determine the fair market value of our initial business combination, we will obtain an opinion from an independent
investment banking firm or another independent entity that commonly renders valuation opinions with respect to the satisfaction
of such criteria. While we consider it unlikely that our board of directors will not be able to make an independent determination
of the fair market value of our initial business combination, it may be unable to do so if it is less familiar or experienced
with the business of a particular target or if there is a significant amount of uncertainty as to the value of a target's
assets or prospects. Additionally, pursuant to Nasdaq rules, any initial business combination must be approved by a majority of
our independent directors.
We anticipate structuring our initial business
combination either (i) in such a way 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, or (ii) in such a way so that
the post-transaction company owns or acquires less than 100% of such interests or assets of the target business in order to meet
certain objectives of the target management team or stockholders, or for other reasons. However, we will only complete an initial
business combination if the post-transaction company owns or acquires 50% or more of the outstanding voting securities of the
target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment
company under the Investment Company Act of 1940, as amended, or the "Investment Company Act". Even if the post-transaction
company owns or acquires 50% or more of the voting securities of the target, our stockholders prior to the initial business combination
may collectively own a minority interest in the post-transaction company, depending on valuations ascribed to the target and us
in the initial business combination. 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 taken into account
for purposes of Nasdaq's 80% fair market value test. If the initial business combination involves more than one target business,
the 80% fair market value test will be based on the aggregate value of all of the transactions and we will treat the target businesses
together as the initial business combination for purposes of a tender offer or for seeking stockholder approval, as applicable.
Our Business Combination Process
Members of our management team may directly
or indirectly own our founders shares, common stock and/or private placement warrants following this offering, and, accordingly,
may have a conflict of interest in determining whether a particular target business is an appropriate business with which to effectuate
our initial business combination. Further, each of our officers and directors may have a conflict of interest with respect to
evaluating a particular business combination if the retention or resignation of any such officers and directors were to be included
by a target business as a condition to any agreement with respect to our initial business combination.
73
Each of our officers and directors presently
has, and any of them in the future may have additional, fiduciary or contractual obligations to other entities pursuant to which
such officer or director is or will be required to present a business combination opportunity. Accordingly, if any of our officers
or directors becomes aware of a business combination opportunity which is suitable for an entity to which he or she has then-current
fiduciary or contractual obligations to present the opportunity to such entity, he or she will honor his or her fiduciary or contractual
obligations to present such opportunity to such entity. We believe, however, that the fiduciary duties or contractual obligations
of our officers or directors will not materially affect our ability to complete our initial business combination, as we believe
any such opportunities presented would be smaller than what we are interested in, in different fields than what we would be interested
in, or that our obligations are to entities that are not themselves in the business of engaging in business combinations. Our
amended and restated certificate of incorporation will provide that we renounce our interest in any corporate opportunity offered
to any director or officer unless such opportunity is expressly offered to such person solely in his or her capacity as a director
or officer of our company and such opportunity is one we are legally and contractually permitted to undertake and would otherwise
be reasonable for us to pursue, and to the extent the director or officer is permitted to refer that opportunity to us without
violating another legal obligation.
Our officers and directors may become an
officer or director of another special purpose acquisition company with a class of securities intended to be registered under
the Securities Exchange Act of 1934, as amended, or the Exchange Act, even before we have entered into a definitive agreement
regarding our initial business combination.
Status as a Public Company
We believe our structure will make us an
attractive business combination partner to target businesses. As a public company, we offer a target business an alternative to
the traditional initial public offering through a merger or other business combination with us. Following an initial business
combination, we believe the target business would have greater access to capital and additional means of creating management incentives
that are better aligned with stockholders' interests than it would as a private company. A target business can further benefit
by augmenting its profile among potential new customers and vendors and aid in attracting talented employees. In a business combination
transaction with us, the owners of the target business may, for example, exchange their shares of stock in the target business
for our shares of Class A common stock (or shares of a new holding company) or for a combination of our shares of Class A
common stock and cash, allowing us to tailor the consideration to the specific needs of the sellers.
Although there are various costs and obligations
associated with being a public company, we believe target businesses will find this method a more expeditious and cost effective
method to becoming a public company than the typical initial public offering. The typical initial public offering process takes
a significantly longer period of time than the typical business combination transaction process, and there are significant expenses
in the initial public offering process, including underwriting discounts and commissions, marketing and road show efforts that
may not be present to the same extent in connection with an initial business combination with us.
Furthermore, once a proposed initial business
combination is completed, the target business will have effectively become public, whereas an initial public offering is always
subject to the underwriters' ability to complete the offering, as well as general market conditions, which could delay or
prevent the offering from occurring or could have negative valuation consequences. Following an initial business combination,
we believe the target business would then have greater access to capital and an additional means of providing management incentives
consistent with stockholders' interests and the ability to use its shares as currency for acquisitions. Being a public company
can offer further benefits by augmenting a company's profile among potential new customers and vendors and aid in attracting
talented employees.
While we believe that our structure and
our management team's backgrounds will make us an attractive business partner, some potential target businesses may view
our status as a blank check company, such as our lack of an operating history and our ability to seek stockholder approval of
any proposed initial business combination, negatively.
74
We are an "emerging growth company,"
as defined in Section 2(a) of the Securities Act, as modified by the JOBS Act. As such, we are eligible to take advantage
of certain exemptions from various reporting requirements that are applicable to other public companies that are not "emerging
growth companies" including, but not limited to, not being required to comply with the independent registered public accounting
firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive
compensation in our periodic reports and proxy statements, and exemptions from the requirements of holding a non-binding advisory
vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. If some investors
find our securities less attractive as a result, there may be a less active trading market for our securities and the prices of
our securities may be more volatile.
In addition, Section 107 of the JOBS
Act also provides that an "emerging growth company" can take advantage of the extended transition period provided
in Section 7(a)(2)(B) of the Securities Act for complying with new or revised accounting standards. In other words, an "emerging
growth company" can delay the adoption of certain accounting standards until those standards would otherwise apply to private
companies. We intend to take advantage of the benefits of this extended transition period.
We will remain an emerging growth company
until the earlier of (1) the last day of the fiscal year (a) following the fifth anniversary of the completion of this
offering, (b) in which we have total annual gross revenue of at least $1.07 billion, or (c) in which we are deemed to
be a large accelerated filer, which means the market value of our Class A 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 securities during the prior three-year period.
Additionally, we are a "smaller reporting
company" as defined in Rule 10(f)(1) of Regulation S-K. Smaller reporting companies may take advantage of certain reduced
disclosure obligations, including, among other things, providing only two years of audited financial statements. We will remain
a smaller reporting company until the last day of the fiscal year in which (1) the market value of our common stock held
by non-affiliates exceeds $250 million as of the prior June 30
th
, or (2) our annual revenues exceed $100
million during such completed fiscal year and the market value of our common stock held by non-affiliates exceeds $700 million
as of the prior June 30
th
.
Financial Position
With funds available for an initial business
combination initially in the amount of $120,625,000, after payment of $4,375,000 of deferred underwriting fees (or $138,718,750
after payment of up to $5,031,250 of deferred underwriting fees if the underwriters' over-allotment option is exercised
in full), in each case before fees and expenses associated with our initial business combination, we offer a target business a
variety of options such as creating a liquidity event for its owners, providing capital for the potential growth and expansion
of its operations or strengthening its balance sheet by reducing its debt or leverage ratio. Because we are able to complete our
initial business combination using our cash, debt or equity securities, or a combination of the foregoing, we have the flexibility
to use the most efficient combination that will allow us to tailor the consideration to be paid to the target business to fit
its needs and desires. However, we have not taken any steps to secure third party financing and there can be no assurance it will
be available to us.
Effecting Our Initial Business Combination
We are not presently engaged in, and we
will not engage in, any operations for an indefinite period of time following this offering. We intend to effectuate our initial
business combination using cash from the proceeds of this offering and the private placement of the private placement warrants,
the proceeds of the sale of our shares in connection with our initial business combination (pursuant to forward purchase agreements
or backstop agreements we may enter into following the consummation of this offering or otherwise), shares issued to the owners
of the target, debt issued to bank or other lenders or the owners of the target, or a combination of the foregoing. We may seek
to complete our initial business combination with a company or business that may be financially unstable or in its early stages
of development or growth, which would subject us to the numerous risks inherent in such companies and businesses.
75
If our initial business combination is paid
for using equity or debt securities, or not all of the funds released from the trust account are used for payment of the consideration
in connection with our initial business combination or used for redemptions of our Class A common stock, we may apply the
balance of the cash released to us from the trust account for general corporate purposes, including for maintenance or expansion
of operations of the post-transaction company, the payment of principal or interest due on indebtedness incurred in completing
our initial business combination, to fund the purchase of other companies or for working capital.
We may seek to raise additional funds through
a private offering of debt or equity securities in connection with the completion of our initial business combination, and we
may effectuate our initial business combination using the proceeds of such offering rather than using the amounts held in the
trust account. In addition, we intend to target businesses larger than we could acquire with the net proceeds of this offering
and the sale of the private placement warrants, and may as a result be required to seek additional financing to complete such
proposed initial business combination. Subject to compliance with applicable securities laws, we would expect to complete such
financing only simultaneously with the completion of our initial business combination. In the case of an initial business combination
funded with assets other than the trust account assets, our proxy materials or tender offer documents disclosing the initial business
combination would disclose the terms of the financing and, only if required by law, we would seek stockholder approval of such
financing. There are no prohibitions on our ability to raise funds privately or through loans in connection with our initial business
combination. At this time, we are not a party to any arrangement or understanding with any third party with respect to raising
any additional funds through the sale of securities or otherwise.
Sources of Target Businesses
We anticipate that target business candidates
will be brought to our attention from various unaffiliated sources, including investment bankers and investment professionals.
Target businesses may be brought to our attention by such unaffiliated sources as a result of being solicited by us by calls or
mailings. These sources may also introduce us to target businesses in which they think we may be interested on an unsolicited
basis, since many of these sources will have read this prospectus and know what types of businesses we are targeting. Our officers
and directors, as well as our sponsor and their 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. In addition, we expect to receive a number of proprietary deal flow opportunities that
would not otherwise necessarily be available to us as a result of the business relationships of our officers and directors and
our sponsor and their respective industry and business contacts as well as their affiliates. 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,
advisory fee or other compensation to be determined in an arm's length negotiation based on the terms of the transaction.
We will engage a finder only to the extent our management determines that the use of a finder may bring opportunities to us that
may not otherwise be available to us or if finders approach us on an unsolicited basis with a potential transaction that our management
determines is in our best interest to pursue. Payment of finder's fees is customarily tied to completion of a transaction,
in which case any such fee will be paid out of the funds held in the trust account. In no event, however, will our sponsor or
any of our existing officers or directors, or any entity with which our sponsor or officers are affiliated, be paid any finder's
fee, reimbursement, consulting fee, monies in respect of any payment of a loan or other compensation by the company prior to,
or in connection with any services rendered for any services they render in order to effectuate, the completion of our initial
business combination (regardless of the type of transaction that it is). Although none of our sponsor, executive officers or directors,
or any of their respective affiliates, will be allowed to receive any compensation, finder's fees or consulting fees from
a prospective business combination target in connection with a contemplated initial business combination, we do not have a policy
that prohibits our sponsor, executive officers or directors, or any of their respective affiliates, from negotiating for the reimbursement
of out-of-pocket expenses by a target business. We have agreed to pay our sponsor a total of $10,000 per month for office space,
utilities and secretarial and administrative support and to reimburse our sponsor for any out-of-pocket expenses related to identifying,
investigating and completing an initial business combination. Some of our officers and directors may enter into employment or
consulting agreements with the post-transaction company following our initial business combination. The presence or absence of
any such fees or arrangements will not be used as a criterion in our selection process of an initial business combination candidate.
We are not prohibited from pursuing an initial
business combination with an initial business combination target that is affiliated with our sponsor, officers or directors or
making the initial business combination through a joint venture or other form of shared ownership with our sponsor, officers or
directors. In the event we seek to complete our initial business combination with an initial business combination target that
is affiliated with our sponsor, officers or directors, we, or a committee of independent directors, would obtain an opinion from
an independent investment banking firm or from another independent entity that commonly renders valuation opinions that such an
initial business combination is fair to our company from a financial point of view. We are not required to obtain such an opinion
in any other context.
76
As more fully discussed in the section of
this prospectus entitled "Management — Conflicts of Interest," if any of our officers or directors becomes aware
of an initial 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. Our officers and directors currently have certain relevant fiduciary duties
or contractual obligations that may take priority over their duties to us.
Selection of a Target Business and Structuring of our Initial
Business Combination
Nasdaq rules require that we must complete
one or more business combinations having an aggregate fair market value of at least 80% of the value of the assets held in the
trust account (excluding the deferred underwriting commissions and taxes payable on the interest earned on the trust account)
at the time of our signing a definitive agreement in connection with our initial business combination. The fair market value of
our initial business combination will be determined by our board of directors based upon one or more standards generally accepted
by the financial community, such as discounted cash flow valuation, a valuation based on trading multiples of comparable public
businesses or a valuation based on the financial metrics of M&A transactions of comparable businesses. If our board of directors
is not able to independently determine the fair market value of our initial business combination, we will obtain an opinion from
an independent investment banking firm or another independent entity that commonly renders valuation opinions with respect to
the satisfaction of such criteria. While we consider it unlikely that our board of directors will not be able to make an independent
determination of the fair market value of our initial business combination, it may be unable to do so if it is less familiar or
experienced with the business of a particular target or if there is a significant amount of uncertainty as to the value of a target's
assets or prospects. Additionally, pursuant to Nasdaq rules, any initial business combination must be approved by a majority of
our independent directors.
We do not intend to purchase multiple businesses
in unrelated industries in conjunction with our initial business combination. Subject to this requirement, our management will
have virtually unrestricted flexibility in identifying and selecting one or more prospective target businesses, although we will
not be permitted to effectuate our initial business combination with another blank check company or a similar company with nominal
operations. We anticipate structuring our initial business combination either (i) in such a way 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, or (ii) in such a way so that the post-transaction company owns or acquires less than 100% of such interests
or assets of the target business in order to meet certain objectives of the target management team or stockholders. However, we
will only complete an initial business combination if the post-transaction company owns or acquires 50% or more of the outstanding
voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required
to register as an investment company under the Investment Company Act of 1940, as amended, or the "Investment Company Act".
Even if the post-transaction company owns or acquires 50% or more of the voting securities of the target, our stockholders prior
to the initial business combination may collectively own a minority interest in the post-transaction company, depending on valuations
ascribed to the target and us in the initial business combination. 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 taken into account for purposes of Nasdaq's 80% fair market value test. If the initial business combination involves
more than one target business, the 80% fair market value test will be based on the aggregate value of all of the transactions
and we will treat the target businesses together as the initial business combination for purposes of a tender offer or for seeking
stockholder approval, as applicable.
77
To the extent we effect our initial business
combination with a company or business that may be financially unstable or in its early stages of development or growth we may
be affected by numerous risks inherent in such company or business. 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.
The time required to select and evaluate
a target business and to structure and complete our initial business combination, and the costs associated with this process,
are not currently ascertainable with any degree of certainty. Any costs incurred with respect to the identification and evaluation
of a prospective target business with which our initial business combination is not ultimately completed will result in our incurring
losses and will reduce the funds we can use to complete another business combination.
Lack of Business Diversification
For an indefinite period of time after the
completion of our initial business combination, the prospects for our success may depend entirely on the future performance of
a single business. Unlike other entities that have the resources to complete business combinations with multiple entities in one
or several industries, it is probable that we will not have the resources to diversify our operations and mitigate the risks of
being in a single line of business. In addition, we intend to focus our search for an initial business combination in a single
industry. By completing our initial business combination with only a single entity, our lack of diversification may:
•
subject
                                         us to negative economic, competitive and regulatory developments, any or all of which
                                         may have a substantial adverse impact on the particular industry in which we operate
                                         after our initial business combination, and
•
cause
                                         us to depend on the marketing and sale of a single product or limited number of products
                                         or services.
Limited Ability to Evaluate the Target's Management
Team
Although we intend to closely scrutinize
the management of a prospective target business when evaluating the desirability of effecting our initial business combination
with that business, our assessment of the target business' management may not prove to be correct. In addition, the future
management may not have the necessary skills, qualifications or abilities to manage a public company. Furthermore, the future
role of members of our management team, if any, in the target business cannot presently be stated with any certainty. The determination
as to whether any of the members of our management team will remain with the combined company will be made at the time of our
initial business combination. While it is possible that one or more of our directors will remain associated in some capacity with
us following our initial business combination, it is unlikely that any of them will devote their full efforts to our affairs subsequent
to our initial business combination. Moreover, we cannot assure you that members of our management team will have significant
experience or knowledge relating to the operations of the particular target business.
We cannot assure you that any of our key
personnel will remain in senior management or advisory positions with the combined company. The determination as to whether any
of our key personnel will remain with the combined company will be made at the time of our initial business combination.
Following an initial business combination,
we may seek to recruit additional managers to supplement the incumbent management of the target business. We cannot assure you
that we will have the ability to recruit additional managers, or that additional managers will have the requisite skills, knowledge
or experience necessary to enhance the incumbent management.
Stockholders May Not Have the Ability to Approve Our Initial
Business Combination
We may conduct redemptions without a stockholder
vote pursuant to the tender offer rules of the SEC subject to the provisions of our amended and restated certificate of incorporation.
However, we will seek stockholder approval if it is required by law or applicable stock exchange rule, or we may decide to seek
stockholder approval for business or other legal reasons. Presented in the table below is a graphic explanation of the types of
initial business combinations we may consider and whether stockholder approval is currently required under Delaware law for each
such transaction.
78
Type of Transaction
Whether
Stockholder
Approval is
Required
Purchase of assets
No
Purchase of stock of target not involving a merger
    with the company
No
Merger of target into a subsidiary of the company
No
Merger of the company with a target
Yes
Under Nasdaq's listing rules, stockholder
approval would be required for our initial business combination if, for example:
•
we issue
                                         shares of Class A common stock that will be equal to or in excess of 20% of the
                                         number of shares of our Class A common stock then outstanding;
•
any of our directors, officers or substantial
                                         stockholders (as defined by Nasdaq rules) has a 5% or greater interest (or such persons
                                         collectively have a 10% or greater interest), directly or indirectly, in the target business
                                         or assets to be acquired or otherwise and the present or potential issuance of common
                                         stock could result in an increase in outstanding common shares or voting power of 5%
                                         or more; or
•
the issuance or potential issuance of
                                         common stock will result in our undergoing a change of control.
Permitted Purchases of our Securities
If we seek stockholder approval of our initial
business combination and we do not conduct redemptions in connection with our initial business combination pursuant to the tender
offer rules, our sponsor, initial stockholders, directors, officers, advisors or their affiliates may purchase shares or public
warrants in privately negotiated transactions or in the open market either prior to or following the completion of our initial
business combination. There is no limit on the number of shares our initial stockholders, directors, officers, advisors or their
affiliates may purchase in such transactions, subject to compliance with applicable law and Nasdaq rules. 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. If they engage in such transactions, they will not make any such purchases when they are in possession of any
material nonpublic information not disclosed to the seller or if such purchases are prohibited by Regulation M under the Exchange
Act.
In the event that our sponsor, initial stockholders,
directors, officers, advisors or their affiliates purchase shares in privately negotiated transactions from public stockholders
who have already elected to exercise their redemption rights, such selling stockholders would be required to revoke their prior
elections to redeem their shares. We do not currently anticipate that such purchases, if any, would constitute a tender offer
subject to the tender offer rules under the Exchange Act or a going-private transaction subject to the going-private rules under
the Exchange Act; however, if the purchasers determine at the time of any such purchases that the purchases are subject to such
rules, the purchasers will comply with such rules. Any such purchases will be reported pursuant to Section 13 and Section 16
of the Exchange Act to the extent such purchasers are subject to such reporting requirements. None of the funds held in the trust
account will be used to purchase shares or public warrants in such transactions prior to completion of our initial business combination.
The purpose of any such purchases of shares
could be to vote such shares in favor of the initial business combination and thereby increase the likelihood of obtaining stockholder
approval of the initial business combination or to satisfy a closing condition in an agreement with a target that requires us
to have a minimum net worth or a certain amount of cash at the closing of our initial business combination, where it appears that
such requirement would otherwise not be met. The purpose of any such purchases of public warrants could be to reduce the number
of public warrants outstanding or to vote such warrants on any matters submitted to the warrantholders for approval in connection
with our initial business combination. Any such purchases of our securities may result in the completion of our initial business
combination that may not otherwise have been possible. In addition, if such purchases are made, the public "float"
of our shares of Class A common stock or warrants 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.
79
Our sponsor, officers, directors and/or
their affiliates anticipate that they may identify the stockholders with whom our sponsor, officers, directors or their affiliates
may pursue privately negotiated purchases by either the stockholders (in the case of Class A common stock) 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 sponsor, officers, directors, advisors or their affiliates enter into
a private purchase, they would identify and contact only potential selling stockholders who have expressed their election to redeem
their shares for a pro rata share of the trust account or vote against our initial business combination, whether or not such stockholder
has already submitted a proxy with respect to our initial business combination but only if such shares have not already been voted
at the stockholder meeting related to our initial business combination. Our sponsor, officers, directors, advisors or any of their
affiliates will select which stockholders to purchase shares from based on a negotiated price and number of shares and any other
factors that they may deem relevant, and will only purchase shares if such purchases comply with Regulation M under the Exchange
Act and the other federal securities laws.
Any purchases by our sponsor, officers,
directors and/or their affiliates who are affiliated purchasers under Rule 10b-18 under the Exchange Act will only be made
to the extent such purchases are able to be made in compliance with Rule 10b-18, which is a safe harbor from liability for
manipulation under Section 9(a)(2) and Rule 10b-5 of the Exchange Act. Rule 10b-18 has certain technical requirements
that must be complied with in order for the safe harbor to be available to the purchaser. Our sponsor, officers, directors and/or
their affiliates will not make purchases of common stock if the purchases would violate Section 9(a)(2) or Rule 10b-5
of the Exchange Act. Any such purchases will be reported pursuant to Section 13 and Section 16 of the Exchange Act to
the extent such purchases are subject to such reporting requirements.
Redemption Rights for Public Stockholders upon Completion
of our Initial Business Combination
We will provide our public stockholders
with the opportunity to redeem all or a portion of their shares of Class A common stock upon the completion of our initial
business combination at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account
as of two business days prior to the consummation of the initial business combination including interest earned on the funds held
in the trust account and not previously released to us to pay our taxes, divided by the number of then outstanding public shares,
subject to the limitations described herein. The amount in the trust account is initially anticipated to be approximately $10.00
per public share. The per-share amount we will distribute to investors who properly redeem their shares will not be reduced by
the deferred underwriting commissions we will pay to the underwriters. The redemption rights will include the requirement that
a beneficial holder must identify itself in order to validly redeem its shares. Our sponsor, officers and directors have entered
into a letter agreement with us, pursuant to which they have agreed to waive their redemption rights with respect to any founder
shares and any public shares held by them in connection with the completion of our initial business combination.
Manner of Conducting Redemptions
We will provide our public stockholders
with the opportunity to redeem all or a portion of their shares of Class A common stock upon the completion of our initial
business combination either (i) in connection with a stockholder meeting called to approve the initial business combination
or (ii) by means of a tender offer. The decision as to whether we will seek stockholder approval of a proposed initial business
combination or conduct a tender offer will be made by us, solely in our discretion, and will be based on a variety of factors
such as the timing of the transaction and whether the terms of the transaction would require us to seek stockholder approval under
the law or stock exchange listing requirement. Under Nasdaq rules, asset acquisitions and stock purchases would not typically
require stockholder approval while direct mergers with our company where we do not survive and any transactions where we issue
more than 20% of our outstanding common stock or seek to amend our amended and restated certificate of incorporation would require
stockholder approval. If we structure an initial business combination with a target company in a manner that requires stockholder
approval, we will not have discretion as to whether to seek a stockholder vote to approve the proposed initial business combination.
We may conduct redemptions without a stockholder vote pursuant to the tender offer rules of the SEC unless stockholder approval
is required by law or stock exchange listing requirements or we choose to seek stockholder approval for business or other legal
reasons. So long as we obtain and maintain a listing for our securities on Nasdaq, we will be required to comply with such rules.
If a stockholder vote is not required and
we do not decide to hold a stockholder vote for business or other legal reasons, we will, pursuant to our amended and restated
certificate of incorporation:
•
conduct
                                         the redemptions pursuant to Rule 13e-4 and Regulation 14E of the Exchange Act, which
                                         regulate issuer tender offers, and
•
file
                                         tender offer documents with the SEC prior to completing our initial business combination
                                         which contain substantially the same financial and other information about the initial
                                         business combination and the redemption rights as is required under Regulation 14A of
                                         the Exchange Act, which regulates the solicitation of proxies.
Upon the public announcement of our initial
business combination, we or our sponsor will terminate any plan established in accordance with Rule 10b5-1 to purchase shares
of our Class A common stock in the open market if we elect to redeem our public shares through a tender offer, to comply
with Rule 14e-5 under the Exchange Act.
80
In the event we conduct redemptions pursuant
to the tender offer rules, our offer to redeem will remain open for at least 20 business days, in accordance with Rule 14e-1(a)
under the Exchange Act, and we will not be permitted to complete our initial business combination until the expiration of the
tender offer period. In addition, we will not redeem any public shares unless our net tangible assets will be at least $5,000,001
either immediately prior to or upon consummation of our initial business combination and after payment of underwriters'
fees and commissions (so that we are not subject to the SEC's "penny stock" rules) or any greater net tangible
asset or cash requirement which may be contained in the agreement relating to our initial business combination. If public stockholders
tender more shares than we have offered to purchase, we will withdraw the tender offer and not complete the initial business combination.
If, however, stockholder approval of the
transaction is required by law or stock exchange listing requirement, or we decide to obtain stockholder approval for business
or other legal reasons, we will, pursuant to our amended and restated certificate of incorporation:
•
conduct
                                         the redemptions in conjunction with a proxy solicitation pursuant to Regulation 14A of
                                         the Exchange Act, which regulates the solicitation of proxies, and not pursuant to the
                                         tender offer rules, and
•
file
                                         proxy materials with the SEC.
In the event that we seek stockholder approval
of our initial business combination, we will distribute proxy materials and, in connection therewith, provide our public stockholders
with the redemption rights described above upon completion of the initial business combination.
If we seek stockholder approval, we will
complete our initial business combination only if a majority of the outstanding shares of common stock voted are voted in favor
of the initial business combination. A quorum for such meeting will consist of the holders present in person or by proxy of shares
of outstanding capital stock of the company representing a majority of the voting power of all outstanding shares of capital stock
of the company entitled to vote at such meeting. Our initial stockholders will count toward this quorum and pursuant to the letter
agreement, our sponsor, officers and directors have agreed to vote their founder shares and any public shares purchased during
or after this offering (including in open market and privately negotiated transactions) in favor of our initial business combination.
For purposes of seeking approval of the majority of our outstanding shares of common stock voted, non-votes will have no effect
on the approval of our initial business combination once a quorum is obtained. As a result, in addition to our initial stockholders'
founder shares, we would need only 4,687,501, or 37.5%, of the 12,500,000 public shares sold in this offering to be voted in favor
of an initial business combination (assuming all outstanding shares are voted and our sponsor, officers and directors do not purchase
any public shares) in order to have our initial business combination approved (assuming all outstanding shares are voted and the
over-allotment option is not exercised). We intend to give approximately 30 days (but not less than 10 days nor more
than 60 days) prior written notice of any such meeting, if required, at which a vote shall be taken to approve our initial
business combination. These quorum and voting thresholds, and the voting agreements of our initial stockholders, may make it more
likely that we will consummate our initial business combination. Each public stockholder may elect to redeem its public shares
irrespective of whether they vote for or against the proposed transaction.
Our amended and restated certificate of
incorporation will provide that we may not redeem our public shares unless our net tangible assets are at least $5,000,001 either
immediately prior to or upon consummation of our initial business combination and after payment of underwriters' fees and
commissions (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. For example, the proposed
initial 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 initial business combination. In the event the aggregate cash consideration
we would be required to pay for all shares of Class A common stock that are validly submitted for redemption plus any amount
required to satisfy cash conditions pursuant to the terms of the proposed initial business combination exceed the aggregate amount
of cash available to us, we will not complete the initial business combination or redeem any shares, and all shares of Class A
common stock submitted for redemption will be returned to the holders thereof.
81
Limitation on Redemption upon Completion of our Initial
Business Combination if we Seek Stockholder Approval
Notwithstanding the foregoing, if we seek
stockholder approval of our initial business combination and we do not conduct redemptions in connection with our initial business
combination pursuant to the tender offer rules, our amended and restated certificate of incorporation will provide that a public
stockholder, together with any affiliate of such stockholder or any other person with whom such stockholder is acting in concert
or as a "group" (as defined under Section 13 of the Exchange Act), will be restricted from seeking redemption
rights with respect to more than an aggregate of 20% of the shares sold in this offering, which we refer to as the "Excess
Shares." Such restriction shall also be applicable to our affiliates. We believe this restriction will discourage stockholders
from accumulating large blocks of shares, and subsequent attempts by such holders to use their ability to exercise their redemption
rights against a proposed initial business combination as a means to force us or our management to purchase their shares at a
significant premium to the then-current market price or on other undesirable terms. Absent this provision, a public stockholder
holding more than an aggregate of 20% of the shares sold in this offering could threaten to exercise its redemption rights if
such holder's shares are not purchased by us or our management at a premium to the then-current market price or on other
undesirable terms. By limiting our stockholders' ability to redeem no more than 20% of the shares sold in this offering
without our prior consent, we believe we will limit the ability of a small group of stockholders to unreasonably attempt to block
our ability to complete our initial business combination, particularly in connection with an initial business combination with
a target that requires as a closing condition that we have a minimum net worth or a certain amount of cash. However, we would
not be restricting our stockholders' ability to vote all of their shares (including Excess Shares) for or against our initial
business combination.
Tendering Stock Certificates in Connection with Redemption
Rights
We may require our public stockholders seeking
to exercise their redemption rights, whether they are record holders or hold their shares in "street name," to either
tender their certificates to our transfer agent prior to the meeting held to approve a proposed initial business combination by
a date set forth in the proxy materials mailed to such holders or to deliver their shares to the transfer agent electronically
using the Depository Trust Company's DWAC (Deposit/Withdrawal At Custodian) System, at the holder's option. The proxy
materials that we will furnish to holders of our public shares in connection with our initial business combination will indicate
whether we are requiring public stockholders to satisfy such delivery requirements. Accordingly, a public stockholder would have
from the time we send out our proxy materials until the date set forth in such proxy materials to tender its shares if it wishes
to seek to exercise its redemption rights. Given the relatively short exercise period, it is advisable for stockholders to use
electronic delivery of their public shares.
There is a nominal cost associated with
the above-referenced tendering process and the act of certificating the shares or delivering them through the DWAC System. The
transfer agent will typically charge the tendering broker $80.00 and it would be up to the broker whether or not to pass this
cost on to the redeeming holder. However, this fee would be incurred regardless of whether or not we require holders seeking to
exercise redemption rights to tender their shares. The need to deliver shares is a requirement of exercising redemption rights
regardless of the timing of when such delivery must be effectuated.
The foregoing is different from the procedures
used by many blank check companies. In order to perfect redemption rights in connection with their business combinations, many
blank check companies would distribute proxy materials for the stockholders' vote on an initial business combination, and
a holder could simply vote against a proposed initial business combination and check a box on the proxy card indicating such holder
was seeking to exercise his or her redemption rights. After the initial business combination was approved, the company would contact
such stockholder to arrange for him or her to deliver his or her certificate to verify ownership. As a result, the stockholder
then had an "option window" after the completion of the initial business combination during which he or she could
monitor the price of the company's stock in the market. If the price rose above the redemption price, he or she could sell
his or her shares in the open market before actually delivering his or her shares to the company for cancellation. As a result,
the redemption rights, to which stockholders were aware they needed to commit before the stockholder meeting, would become "option"
rights surviving past the completion of the initial business combination until the redeeming holder delivered its certificate.
The requirement for physical or electronic delivery prior to the meeting ensures that a redeeming holder's election to redeem
is irrevocable once the initial business combination is approved.
82
Any request to redeem such shares, once
made, may be withdrawn at any time up to the date set forth in the proxy materials. Furthermore, if a holder of a public share
delivered its certificate in connection with an election of redemption rights and subsequently decides prior to the applicable
date not to elect to exercise such rights, such holder may simply request that the transfer agent return the certificate (physically
or electronically). It is anticipated that the funds to be distributed to holders of our public shares electing to redeem their
shares will be distributed promptly after the completion of our initial business combination.
If our initial business combination is not
approved or completed for any reason, then our public stockholders who elected to exercise their redemption rights would not be
entitled to redeem their shares for the applicable pro rata share of the trust account. In such case, we will promptly return
any certificates delivered by public holders who elected to redeem their shares.
If our initial proposed initial business
combination is not completed, we may continue to try to complete an initial business combination with a different target until
24 months from the closing of this offering.
Redemption of Public Shares and Liquidation if no Initial
Business Combination
Our amended and restated certificate of
incorporation provides that we will have only 24 months from the closing of this offering to complete our initial business combination.
If we are unable to complete our initial business combination within such 24-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 the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account
including interest earned on the funds held in the trust account and not previously released to us to pay our taxes (less up to
$100,000 of interest to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will
completely extinguish public stockholders' rights as stockholders (including the right to receive further liquidating distributions,
if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the
approval of our remaining stockholders and our board of directors, dissolve and liquidate, subject in each case to our obligations
under Delaware law to provide for claims of creditors and the requirements of other applicable law. There will be no redemption
rights or liquidating distributions with respect to our warrants, which will expire worthless if we fail to complete our initial
business combination within the 24-month time period.
Our sponsor, officers and directors have
entered into a letter agreement with us, pursuant to which they have waived their rights to liquidating distributions from the
trust account with respect to any founder shares held by them if we fail to complete our initial business combination within 24
months from the closing of this offering. However, if our sponsor, officers or directors acquire public shares in or after this
offering, they will be entitled to liquidating distributions from the trust account with respect to such public shares if we fail
to complete our initial business combination within the allotted 24-month time period.
Our sponsor, officers and directors have
agreed, pursuant to a written agreement with us, that they will not propose any amendment to our amended and restated certificate
of incorporation (i) to modify the substance or timing of our obligation to redeem 100% of our public shares if we do not
complete our initial business combination within 24 months from the closing of this offering or (ii) with respect to any
other provision relating to stockholders' rights or pre-initial business combination activity, unless we provide our public
stockholders with the opportunity to redeem their shares of Class A 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 taxes divided by the number of then outstanding
public shares. However, we may not redeem our public shares unless our net tangible assets are at least $5,000,001 either immediately
prior to or upon consummation of our initial business combination and after payment of underwriters' fees and commissions
(so that we are not subject to the SEC's "penny stock" rules). If this optional redemption right is exercised
with respect to an excessive number of public shares such that we cannot satisfy the net tangible asset requirement (described
above), we would not proceed with the amendment or the related redemption of our public shares at such time.
We expect that all costs and expenses associated
with implementing our plan of dissolution, as well as payments to any creditors, will be funded from amounts remaining out of
the approximately $1,000,000 of proceeds held outside the trust account, although we cannot assure you that there will be sufficient
funds for such purpose. We will depend on sufficient interest being earned on the proceeds held in the trust account to pay any
tax obligations we may owe. However, if those funds are not sufficient to cover the costs and expenses associated with implementing
our plan of dissolution, to the extent that there is any interest accrued in the trust account not required to pay taxes on interest
income earned on the trust account balance, we may request the trustee to release to us an additional amount of up to $100,000
of such accrued interest to pay those costs and expenses.
83
If
we were to expend all of the net proceeds of this offering and the sale of the private placement warrants, other than the proceeds
deposited in the trust account, and without taking into account interest, if any, earned on the trust account
(
and
any tax payments or expenses for the dissolution of the trust used from interest, if any), the per-share redemption amount received
by stockholders upon our dissolution would be approximately $10.00. The proceeds deposited in the trust account could, however,
become subject to the claims of our creditors which would have higher priority than the claims of our public stockholders. We
cannot assure you that the actual per-share redemption amount received by stockholders will not be substantially less than $10.00.
Under Section 281(b) of the DGCL, our plan of dissolution must provide for all claims against us to be paid in full or make
provision for payments to be made in full, as applicable, if there are sufficient assets. These claims must be paid or provided
for before we make any distribution of our remaining assets to our stockholders. While we intend to pay such amounts, if any,
we cannot assure you that we will have funds sufficient to pay or provide for all creditors' claims.
Although we will seek to have all vendors,
service providers, prospective target businesses or other entities with which we do business execute agreements with us waiving
any right, title, interest or claim of any kind in or to any monies held in the trust account for the benefit of our public stockholders,
there is no guarantee that they will execute such agreements or even if they execute such agreements that they would be prevented
from bringing claims against the trust account including but not limited to fraudulent inducement, breach of fiduciary responsibility
or other similar claims, as well as claims challenging the enforceability of the waiver, in each case in order to gain an advantage
with respect to a claim against our assets, including the funds held in the trust account. If any third party refuses to execute
an agreement waiving such claims to the monies held in the trust account, our management will perform an analysis of the alternatives
available to it and will only enter into an agreement with a third party that has not executed a waiver if management believes
that such third party's engagement would be significantly more beneficial to us than any alternative. Examples of possible
instances where we may engage a third party that refuses to execute a waiver include the engagement of a third-party consultant
whose particular expertise or skills are believed by management to be significantly superior to those of other consultants that
would agree to execute a waiver or in cases where management is unable to find a service provider willing to execute a waiver.
Marcum LLP, our independent registered public accounting firm, and the underwriters of the offering 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. Our sponsor has agreed that
it will be liable to us if and to the extent any claims by a third party for services rendered or products sold to us, or a prospective
target business with which we have entered into a written letter of intent, confidentiality or similar agreement or business combination
agreement, reduce the amount of funds in the trust account to below the lesser of (i) $10.00 per public share and (ii) the
actual amount per public share held in the trust account as of the date of the liquidation of the trust account, if less than
$10.00 per public share due to reductions in the value of the trust assets, less taxes payable, provided that such liability will
not apply to any claims by a third party or prospective target business who executed a waiver of any and all rights to the monies
held in the trust account (whether or not such waiver is enforceable) nor will it apply to any claims under our indemnity of the
underwriters of this offering against certain liabilities, including liabilities under the Securities Act. 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. As a result, if any such
claims were successfully made against the trust account, the funds available for our initial business combination and redemptions
could be reduced to less than $10.00 per public share. In such event, we may not be able to complete our initial business combination,
and you would receive such lesser amount per share in connection with any redemption of your public shares. 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 (i) $10.00 per public share or (ii) such lesser amount per public share held in the trust account
as of the date of the liquidation of the trust account, due to reductions in value of the trust assets, in each case net of the
amount of interest which may be withdrawn to pay taxes, and our 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 if, for example,
the cost of such legal action is deemed by the independent directors to be too high relative to the amount recoverable or if the
independent directors determine that a favorable outcome is not likely. We have not asked our sponsor to reserve for such indemnification
obligations and we cannot assure you that our sponsor would be able to satisfy those obligations. 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 public
share.
84
We will seek to reduce the possibility that
our sponsor will have to indemnify the trust account due to claims of creditors by endeavoring to have all vendors, service providers,
prospective target businesses or other entities with which we do business execute agreements with us waiving any right, title,
interest or claim of any kind in or to monies held in the trust account. Our sponsor will also not be liable as to any claims
under our indemnity of the underwriters of this offering against certain liabilities, including liabilities under the Securities
Act. We will have access to up to approximately $1,000,000 from the proceeds of this offering with which to pay any such potential
claims. In the event that we liquidate and it is subsequently determined that the reserve for claims and liabilities is insufficient,
stockholders who received funds from our trust account could be liable for claims made by creditors. In the event that our offering
expenses exceed our estimate of $750,000, we may fund such excess with funds from the funds not to be held in the trust account.
In such case, the amount of funds we intend to be held outside the trust account would decrease by a corresponding amount. Conversely,
in the event that the offering expenses are less than our estimate of $750,000, the amount of funds we intend to be held outside
the trust account would increase by a corresponding amount.
Under the DGCL, stockholders may be held
liable for claims by third parties against a corporation to the extent of distributions received by them in a dissolution. The
pro rata portion of our trust account distributed to our public stockholders upon the redemption of our public shares in the event
we do not complete our initial business combination within 24 months from the closing of this offering may be considered a liquidating
distribution under Delaware law. If the corporation complies with certain procedures set forth in Section 280 of the DGCL
intended to ensure that it makes reasonable provision for all claims against it, including a 60-day notice period during which
any third-party claims can be brought against the corporation, a 90-day period during which the corporation may reject any claims
brought, and an additional 150-day waiting period before any liquidating distributions are made to stockholders, any liability
of stockholders with respect to a liquidating distribution is limited to the lesser of such stockholder's pro rata share
of the claim or the amount distributed to the stockholder, and any liability of the stockholder would be barred after the third
anniversary of the dissolution.
Furthermore, if the pro rata portion of
our trust account distributed to our public stockholders upon the redemption of our public shares in the event we do not complete
our initial business combination within 24 months from the closing of this offering, is not considered a liquidating distribution
under Delaware law and such redemption distribution is deemed to be unlawful (potentially due to the imposition of legal proceedings
that a party may bring or due to other circumstances that are currently unknown), then pursuant to Section 174 of the DGCL,
the statute of limitations for claims of creditors could then be six years after the unlawful redemption distribution, instead
of three years, as in the case of a liquidating distribution. If we are unable to complete our initial business combination within
24 months from the closing of this offering, we will: (i) cease all operations except for the purpose of winding up, (ii) as
promptly as reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-share price,
payable in cash, equal to the aggregate amount then on deposit in the trust account including interest earned on the funds held
in the trust account and not previously released to us to pay our taxes (less up to $100,000 of interest to pay dissolution expenses),
divided by the number of then outstanding public shares, which redemption will completely extinguish public stockholders'
rights as stockholders (including the right to receive further liquidating distributions, if any), subject to applicable law,
and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining stockholders
and our board of directors, dissolve and liquidate, subject in each case to our obligations under Delaware law to provide for
claims of creditors and the requirements of other applicable law. Accordingly, it is our intention to redeem our public shares
as soon as reasonably possible following our 24
th
month and, therefore, we do not intend to comply with those 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.
85
Because we will not be complying with Section 280,
Section 281(b) of the DGCL requires us to adopt a plan, based on facts known to us at such time that will provide for our
payment of all existing and pending claims or claims that may be potentially brought against us within the subsequent 10 years.
However, because we are a blank check company, rather than an operating company, and our operations will be limited to searching
for prospective target businesses to acquire, the only likely claims to arise would be from our vendors (such as lawyers, investment
bankers, etc.) or prospective target businesses. As described above, pursuant to the obligation contained in our underwriting
agreement, we will seek to have all vendors, service providers, prospective target businesses or other entities with which we
do business execute agreements with us waiving any right, title, interest or claim of any kind in or to any monies held in the
trust account. As a result of this obligation, the claims that could be made against us are significantly limited and the likelihood
that any claim that would result in any liability extending to the trust account is remote. Further, our sponsor may be liable
only to the extent necessary to ensure that the amounts in the trust account are not reduced below (i) $10.00 per public share
or (ii) such lesser amount per public share held in the trust account as of the date of the liquidation of the trust account,
due to reductions in value of the trust assets, in each case net of the amount of interest withdrawn to pay taxes and will not
be liable as to any claims under our indemnity of the underwriters of this offering against certain liabilities, including liabilities
under the Securities Act. In the event that an executed waiver is deemed to be unenforceable against a third party, our sponsor
will not be responsible to the extent of any liability for such third-party claims.
If we file a bankruptcy petition or an involuntary
bankruptcy petition is filed against us that is not dismissed, the proceeds held in the trust account could be subject to applicable
bankruptcy law, and may be included in our bankruptcy estate and subject to the claims of third parties with priority over the
claims of our stockholders. To the extent any bankruptcy claims deplete the trust account, we cannot assure you we will be able
to return $10.00 per share to our public stockholders. Additionally, if we file a bankruptcy petition or an involuntary bankruptcy
petition is filed against us that is not dismissed, any distributions received by stockholders could be viewed under applicable
debtor/creditor and/or bankruptcy laws as either a "preferential transfer" or a "fraudulent conveyance."
As a result, a bankruptcy court could seek to recover some or all amounts received by our stockholders. Furthermore, our board
of directors may be viewed as having breached its fiduciary duty to our creditors and/or may have acted in bad faith, thereby
exposing itself and our company to claims of punitive damages, by paying public stockholders from the trust account prior to addressing
the claims of creditors. We cannot assure you that claims will not be brought against us for these reasons.
Our public stockholders will be entitled
to receive funds from the trust account only upon the earlier to occur of: (i) the completion of our initial business combination,
(ii) the redemption of any public shares properly tendered in connection with a stockholder vote to amend any provisions
of our amended and restated certificate of incorporation (A) to modify the substance or timing of our obligation to offer
redemption rights in connection with any proposed initial business combination or to redeem 100% of our public shares if we do
not complete our initial business combination within 24 months from the closing of this offering or (B) with respect to any
other provision relating to stockholders' rights or pre-initial business combination activity, and (iii) the redemption
of all of our public shares if we are unable to complete our business combination within 24 months from the closing of this offering,
subject to applicable law. In no other circumstances will a stockholder have any right or interest of any kind to or in the trust
account. In the event we seek stockholder approval in connection with our initial business combination, a stockholder's
voting in connection with the initial business combination alone will not result in a stockholder's redeeming its shares
to us for an applicable pro rata share of the trust account. Such stockholder must have also exercised its redemption rights as
described above. These provisions of our amended and restated certificate of incorporation, like all provisions of our amended
and restated certificate of incorporation, may be amended with a stockholder vote.
86
Comparison of Redemption or Purchase Prices in Connection
with Our Initial Business Combination and if We Fail to Complete Our Initial Business Combination
The following table compares the redemptions
and other permitted purchases of public shares that may take place in connection with the completion of our initial business combination
and if we do not complete our initial business combination within 24 months from the closing of this offering.
Redemptions
    in Connection
with our Initial Business
Combination
Other
    Permitted Purchases of
Public Shares by us or our
Affiliates
Redemptions
    if we fail to
Complete an Initial Business
Combination
Calculation
    of redemption price
Redemptions at the time of our initial business
    combination may be made pursuant to a tender offer or in connection with a stockholder vote. The redemption price will be
    the same whether we conduct redemptions pursuant to a tender offer or in connection with a stockholder vote. In either case,
    our public stockholders may redeem their public shares for cash equal to the aggregate amount then on deposit in the trust
    account as of two business days prior to the consummation of the initial business combination (which is initially anticipated
    to be $10.00 per public share), including interest earned on the funds held in the trust account and not previously released
    to us to pay our taxes divided by the number of then outstanding public shares, subject to the limitation that no redemptions
    will take place if all of the redemptions would cause our net tangible assets to be less than $5,000,001 as described elsewhere
    in this prospectus and any limitations (including but not limited to cash requirements) agreed to in connection with the negotiation
    of terms of a proposed initial business combination.
If we seek stockholder approval of our initial
    business combination, our sponsor, directors, officers, advisors or their affiliates may purchase shares in privately negotiated
    transactions or in the open market prior to or following completion of our initial business combination. There is no limit
    to the prices that our sponsor, directors, officers, advisors or their affiliates may pay in these transactions. If they engage
    in such transactions, they will be restricted from making any such purchases when they are in possession of any material nonpublic
    information not disclosed to the seller or if such purchases are prohibited by Regulation M under the Exchange Act. 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.
If we do not complete our initial business combination
    within 24 months from the closing of this offering, we will redeem all public shares at a per-share price, payable in cash,
    equal to the aggregate amount, then on deposit in the trust account (which is initially anticipated to be $10.00 per public
    share including interest earned on the funds held in the trust account and not previously released to us to pay our taxes
    (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding public shares.
Impact
    to remaining stockholders
The redemptions in
    connection with our initial business combination will reduce the book value per share for our remaining stockholders, who
    will bear the burden of the deferred underwriting commissions and interest withdrawn in order to pay our taxes (to the extent
    not paid from amounts accrued as interest on the funds held in the trust account).
If the permitted purchases
    described above are made there would be no impact to our remaining stockholders because the purchase price would not be paid
    by us.
The redemption of our
    public shares if we fail to complete our initial business combination will reduce the book value per share for the shares
    held by our initial stockholders, who will be our only remaining stockholders after such redemptions.
87
Comparison of This Offering to Those of Blank Check Companies
Subject to Rule 419
The following table compares the terms of
this offering to the terms of an offering by a blank check company subject to the provisions of Rule 419. This comparison
assumes that the gross proceeds, underwriting commissions and underwriting expenses of our offering would be identical to those
of an offering undertaken by a company subject to Rule 419, and that the underwriters will not exercise their over-allotment
option. None of the provisions of Rule 419 apply to our offering.
Terms
    of Our Offering
Terms
    Under a Rule 419 Offering
Escrow
    of offering proceeds
$125,000,000 of the net proceeds of this offering
    and the sale of the private placement warrants will be deposited into a trust account in the United States at J.P. Morgan
    Chase Bank, N.A., with Continental Stock Transfer & Trust Company acting as trustee .
Approximately $110,250,000 of the offering proceeds,
    representing the gross proceeds of this offering, would 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
$125,000,000 of the
    net offering proceeds and the sale of the private placement warrants held in trust will be invested only in U.S. government
    treasury bills with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7
    under the Investment Company Act which invest only in direct U.S. government treasury obligations.
Proceeds could be invested
    only in specified securities such as a money market fund meeting conditions of the Investment Company Act or in securities
    that are direct obligations of, or obligations guaranteed as to principal or interest by, the United States.
Receipt
    of interest on escrowed funds
Interest on proceeds
    from the trust account to be paid to stockholders is reduced by (i) any taxes paid or payable, and (ii) in the event
    of our liquidation for failure to complete our initial business combination within the allotted time, up to $100,000 of net
    interest that may be released to us should we have no or insufficient working capital to fund the costs and expenses of our
    dissolution and liquidation.
Interest on funds in
    escrow account would be held for the sole benefit of investors, unless and only after the funds held in escrow were released
    to us in connection with our completion of a business combination.
Limitation
    on fair value or net assets of target business
Nasdaq rules require
    that we must complete one or more business combinations having an aggregate fair market value of at least 80% of the value
    of the assets held in the trust account (excluding the deferred underwriting commissions 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.
88
Terms
    of Our Offering
Terms
    Under a Rule 419 Offering
Trading
    of securities issued
We expect the units will begin trading on or
    promptly after the date of this prospectus. The Class A common stock and warrants comprising the units will begin separate
    trading on the 52
nd
day following the date of this prospectus unless B. Riley Securities, Inc. informs us of its
    decision to allow earlier separate trading, subject to our having filed the Current Report on Form 8-K described below
    and having issued a press release announcing when such separate trading will begin. We will file the Current Report on Form 8-K
    promptly after the closing of this offering, which is anticipated to take place three business days from the date of this
    prospectus. If the over-allotment option is exercised following the initial filing of such Current Report on Form 8-K,
    an additional Current Report on Form 8-K will be filed to provide updated financial information to reflect the exercise
    of the over-allotment option.
No trading of the units or the underlying Class A
    common stock and warrants would be permitted until the completion of a business combination. During this period, the securities
    would be held in the escrow or trust account.
Exercise
    of the warrants
The warrants cannot be exercised until the later
    of 30 days after the completion of our initial business combination or 12 months from the closing of this offering.
The warrants could be exercised prior to the
    completion of a business combination, but securities received and cash paid in connection with the exercise would be deposited
    in the escrow or trust account.
89
Terms
    of Our Offering
Terms
    Under a Rule 419 Offering
Election
    to remain an investor
We will provide our public stockholders with
    the opportunity to redeem their public shares for cash equal to their pro rata share of the aggregate amount then on deposit
    in the trust account as of two business days prior to the consummation of our initial business combination, including interest
    earned on the funds held in the trust account and not previously released to us to pay our taxes, upon the completion of our
    initial business combination, subject to the limitations described herein.
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 it elects to
    remain a stockholder of the company or require the return of 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.
We may not be required by law to hold a stockholder
    vote. We intend to give approximately 30 days (but not less than 10 days nor more than 60 days) prior written
    notice of any such meeting, if required, at which a vote shall be taken to approve our initial business combination. If we
    are not required by law and do not otherwise decide to hold a stockholder vote, we will, pursuant to our amended and restated
    certificate of incorporation, conduct the redemptions pursuant to the tender offer rules of the SEC and file tender offer
    documents with the SEC which will contain substantially the same financial and other information about the initial business
    combination and the redemption rights as is required under the SEC's proxy rules. In the event we conduct redemptions
    pursuant to the tender offer rules, our offer to redeem will remain open for at least 20 business days, in accordance with
    Rule 14e-1(a) under the Exchange Act, and we will not be permitted to complete our initial business combination until
    the expiration of the tender offer period. If, however, we hold a stockholder vote, we will, like many blank check companies,
    offer to redeem shares in conjunction with a proxy solicitation pursuant to the proxy rules. If we seek stockholder approval,
    we will complete our initial business combination only if a majority of the outstanding shares of common stock voted are voted
    in favor of the initial business combination. Additionally, each public stockholder may elect to redeem their public shares
    irrespective of whether they vote for or against the proposed transaction. A quorum for such meeting will consist of the holders
    present in person or by proxy of shares of outstanding capital stock of the company representing a majority of the voting
    power of all outstanding shares of capital stock of the company entitled to vote at such meeting.
90
Terms
    of Our Offering
Terms
    Under a Rule 419 Offering
Business
    combination deadline
If we do not complete an initial business combination
    within 24 months from the closing of this offering, we will (i) cease all operations except for the purpose of winding
    up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem 100% of the public
    shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account including
    interest earned on the funds held in the trust account and not previously released to us to pay our taxes (less up to $100,000
    of interest to pay dissolution expenses), divided by the number of then outstanding public shares, which redemption will completely
    extinguish public stockholders' rights as stockholders (including the right to receive further liquidating distributions,
    if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to
    the approval of our remaining stockholders and our board of directors, dissolve and liquidate, subject in each case to our
    obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law.
If a business combination 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.
Limitation
    on redemption rights of stockholders holding more than 20% of the shares sold in this offering if we hold a stockholder vote
If we seek stockholder
    approval of our initial business combination and we do not conduct redemptions in connection with our initial business combination
    pursuant to the tender offer rules, our amended and restated certificate of incorporation will provide that a public stockholder
    (including our affiliates), together with any affiliate of such stockholder or any other person with whom such stockholder
    is acting in concert or as a "group" (as defined under Section 13 of the Exchange Act), will be restricted
    from seeking redemption rights with respect to Excess Shares (more than an aggregate of 20% of the shares sold in this offering).
    Our public stockholders' inability to redeem Excess Shares will reduce their influence over our ability to complete
    our initial business combination and they could suffer a material loss on their investment in us if they sell any Excess Shares
    in open market transactions.
Many
    blank check companies provide no restrictions on the ability of stockholders to redeem shares based on the number of shares
    held by such stockholders in connection with an initial business combination.
91
Terms
    of Our Offering
Terms
    Under a Rule 419 Offering
Tendering
    stock certificates in connection with a tender offer or redemption rights
We may require our public stockholders seeking
    to exercise their redemption rights, whether they are record holders or hold their shares in "street name," to
    either tender their certificates to our transfer agent prior to the date set forth in the tender offer documents mailed to
    such holders or up to two business days prior to the vote on the proposal to approve the initial business combination in the
    event we distribute proxy materials, or to deliver their shares to the transfer agent electronically using The Depository
    Trust Company's DWAC System, at the holder's option. The tender offer or proxy materials, as applicable, that
    we will furnish to holders of our public shares in connection with our initial business combination will indicate whether
    we are requiring public stockholders to satisfy such delivery requirements. Accordingly, a public stockholder would have from
    the time we send out our tender offer materials until the close of the tender offer period, or up to two days prior to the
    vote on the initial business combination if we distribute proxy materials, as applicable, to tender its shares if it wishes
    to seek to exercise its redemption rights.
In order to perfect redemption rights in connection
    with their business combinations, holders could vote against a proposed initial business combination and check a box on the
    proxy card indicating such holders were seeking to exercise their redemption rights. After the business combination was approved,
    the company would contact such stockholders to arrange for them to deliver their certificate to verify ownership.
92
Terms
    of Our Offering
Terms
    Under a Rule 419 Offering
Release
    of funds
Except with respect to interest earned on the
    funds held in the trust account that may be released to us to pay our tax obligations, the proceeds from this offering and
    the sale of the private placement warrants held in the trust account will not be released from the trust account until the
    earliest to occur of: (i) the completion of our initial business combination, (ii) the redemption of any public
    shares properly submitted in connection with a stockholder vote to amend our amended and restated certificate of incorporation
    (A) to modify the substance or timing of our obligation to redeem 100% of our public shares if we do not complete our
    initial business combination within 24 months from the closing of this offering or (B) with respect to any other provision
    relating to stockholders' rights or pre-business combination activity and (iii) the redemption of 100% of our public
    shares if we are unable to complete an initial business combination within the required time frame (subject to the requirements
    of applicable law). On the completion of our initial business combination, all amounts held in the trust account will be released
    to us, less amounts released to a separate account controlled by the trustee for disbursal to redeeming stockholders. We will
    use these funds to pay amounts due to any public stockholders who exercise their redemption rights as described above under
    "Redemption rights for public stockholders upon completion of our initial business combination," to pay the underwriters
    their deferred underwriting commissions, to pay all or a portion of the consideration payable to the target or owners of the
    target of our initial business combination and to pay other expenses associated with our initial business combination.
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.
Competition
In identifying, evaluating and selecting
a target business for our initial business combination, we may encounter competition from other entities having a business objective
similar to ours, including other blank check companies, private equity groups and leveraged buyout funds, and operating businesses
seeking strategic business combinations. Many of these entities are well established and have extensive experience identifying
and effecting business combinations directly or through affiliates. Moreover, many of these competitors possess greater financial,
technical, human and other resources than we do. Our ability to acquire larger target businesses will be limited by our available
financial resources. This inherent limitation gives others an advantage in pursuing the initial business combination of a target
business. Furthermore, our obligation to pay cash in connection with our public stockholders who exercise their redemption rights
may reduce the resources available to us for our initial business combination and our outstanding warrants, and the future dilution
they potentially represent, may not be viewed favorably by certain target businesses. Either of these factors may place us at
a competitive disadvantage in successfully negotiating an initial business combination.
93
Facilities
Our executive offices are located at 360
Madison Avenue, 20th Floor, New York, NY 10017 and our telephone number is (212) 616-7700. Our executive offices are provided
to us by our sponsor. Commencing on the date of this prospectus, we have agreed to pay our sponsor a total of $10,000 per month
for office space, utilities and secretarial and administrative support. We consider our current office space adequate for our
current operations.
Employees
We currently have 2 officers. These individuals
are not obligated to devote any specific number of hours to our matters but they intend to devote as much of their time as they
deem necessary to our affairs until we have completed our initial business combination. The amount of time they will devote in
any time period will vary based on whether a target business has been selected for our initial business combination and the stage
of the initial business combination process we are in. We do not intend to have any full-time employees prior to the completion
of our initial business combination.
Periodic Reporting and Financial Information
We will register our units, Class A
common stock and warrants under the Exchange Act and have reporting obligations, including the requirement that we file annual,
quarterly and current reports with the SEC. In accordance with the requirements of the Exchange Act, our annual reports will contain
financial statements audited and reported on by our independent registered public accountants.
We will provide stockholders with audited
financial statements of the prospective target business as part of the tender offer materials or proxy solicitation materials
sent to stockholders to assist them in assessing the target business. In all likelihood, these financial statements will need
to be prepared in accordance with, or reconciled to, GAAP, or IFRS, depending on the circumstances, and the historical financial
statements may be required to be audited in accordance with the standards of the PCAOB. These financial statement requirements
may limit the pool of potential targets we may conduct an 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. We cannot assure you that any particular target business identified
by us as a potential business combination candidate will have financial statements prepared in accordance with GAAP or that the
potential target business will be able to prepare its financial statements in accordance with the requirements outlined above.
To the extent that these requirements cannot be met, we may not be able to acquire the proposed target business. While this may
limit the pool of potential business combination candidates, we do not believe that this limitation will be material.
We will be required to evaluate our internal
control procedures for the fiscal year ending December 31, 2021 as required by the Sarbanes-Oxley Act. Only in the event we are
deemed to be a large accelerated filer or an accelerated filer, and no longer qualify as an emerging growth company, will we be
required to have our internal control procedures audited. A target company may not be in compliance with the provisions of the
Sarbanes-Oxley Act regarding adequacy of their internal controls. The development of the internal controls of any such entity
to achieve compliance with the Sarbanes-Oxley Act may increase the time and costs necessary to complete any such business combination.
Prior to the date of this prospectus, we will file a Registration Statement on Form 8-A with the SEC to voluntarily register
our securities under Section 12 of the Exchange Act. As a result, we will be subject to the rules and regulations promulgated
under the Exchange Act. We have no current intention of filing a Form 15 to suspend our reporting or other obligations under
the Exchange Act prior or subsequent to the consummation of our initial business combination.
94
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 shares of Class A common stock that are 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 securities during the prior three-year period.
Legal Proceedings
There is no material litigation, arbitration
or governmental proceeding currently pending against us or any members of our management team in their capacity as such.
95
MANAGEMENT
Officers, Directors and Director Nominees
Our officers, directors and director nominees
are as follows:
Name
Age
Position
Stephen C. Smith
60
Chairman of the Board and Chief Executive
    Officer
Michael Ring
44
Chief Financial Officer
Jay Burnham
57
Director Nominee
Shelley Greenhaus
67
Director Nominee
Jeremy Hedberg
48
Director Nominee
Charles Yamarone
61
Director Nominee
Stephen C. Smith, Chairman and Chief
Executive Officer
Stephen C. Smith, our Chairman and Chief
Executive Officer, founded Seaport Global Asset Management LLC, an SEC registered investment advisor and a wholly-owned subsidiary
of Seaport Global Holdings LLC, in August 2017. Mr. Smith currently serves as SGAM's Chief Executive Officer and Chairman
of its Investment Committee and oversees all of SGAM's investing and business activities. In April 2001, Mr. Smith co-founded
The Seaport Group LLC (currently known as SGH), which is a full-service, mid-sized independent investment bank that offers capital
markets advisory, sales, trading and research services. Prior to that, from December 1999 to March 2001, Mr. Smith was a managing
director at Amroc Securities, LLC, a financial service firm, where he focused on distressed sales and trading. In June 1991, he
co-founded a distressed debt broker-dealer, Libra Investments, Inc., which was acquired by U.S. Bancorp in January 1999. Mr. Smith
began his career at Merrill Lynch in 1982 and from 1984 to 1988 he ran the taxable fixed income trading desk for its unit trust
department. In addition, Mr. Smith worked as a salesperson at S.N. Phelps & Co., a financial management firm, from 1988 to
1989 and Jefferies & Company, a financial services company, from 1989 to 1991. Mr. Smith received a Bachelor of Science degree
in Finance from Indiana University. He is well qualified to serve as our Chairman and Chief Executive given his extensive experience
in distressed debt, restructurings, and transaction expertise.
Michael Ring, Chief Financial Officer
Michael Ring, our Chief Financial Officer,
has been serving as Chief Financial Officer and Chief Compliance Officer at SGAM since February 2018 and Chief Financial Officer
of Seaport Specialty Lending LLC, a specialty finance company, since August 2019. Prior to joining SGAM, he served as Chief Financial
Officer and Chief Compliance Officer at Alta Fundamental Advisers, LLC, an SEC registered investment adviser, from May 2013 to
February 2018, where he was responsible for managing all finance, compliance, and operational functions, including financial reporting,
treasury & cash management, corporate finance, regulatory compliance matters and investor relations. Prior to that, Mr. Ring
worked as Chief Financial Officer and Chief Compliance Officer for Eastwind Global Partners, an asset manager company, from March
2012 to June 2013. From May 2004 to June 2012, he worked as controller, operations manager and Chief Compliance Officer at Restoration
Capital Management LLC, an SEC registered investment adviser. Prior to Restoration Capital Management, Mr. Ring worked for State
Street Bank and Sumitomo Trust and Banking in their securities lending departments, and at Scudder Kemper Investments as a fund
accountant in 1999. Mr. Ring received a Bachelor of Science degree in Finance from University of Massachusetts, Dartmouth and
received a Master of Science in Accounting from St. John's University.
96
Jay Burnham, Director Nominee
Jay Burnham, our director nominee, is a
member of SGAM's Investment Committee and the Managing Member of Sunset Way LLC, an asset management company. Mr. Burnham
previously served as a Portfolio Manager and Managing Member of Armory Advisors, LLC, a special situations and distressed debt
asset management firm that is affiliated with SGAM. Prior to joining Armory Advisors, LLC, Mr. Burnham was a portfolio manager
at Cypress Management, LLC, an investment management firm, from May 2003 to June 2004. From November 2001 to May 2003, Mr. Burnham
was an Investment Manager at Rocker Management, LLC, an investment management company, where he was responsible for distressed
debt and equity investments in companies in a variety of industries and participated as a major creditor in the restructuring
of XM Satellite Radio. From April 1999 to November 2001, he was a founder and an investment manager at Reprise Capital Partners,
LLC, a distressed debt investment firm. From March 1996 to March 1999, Mr. Burnham was an Investment Manager at DDJ Capital Management,
LLC, an investment management company. From January 1995 to February 1996, he was an investment analyst at Libra Investments,
Inc., a distressed debt broker-dealer founded by our Chairman. From June 1990 to November 1994, he was an investment manager at
Paul D. Sonz Partners, an investment management company. Mr. Burnham has acted as a director of a number of public and private
companies in turnaround situations, including acting as a director of Live Entertainment, Inc. (Nasdaq: LVE), a film distribution
company that was acquired by Bain Capital in 1997 and became Artisan Entertainment, Inc., Bally's Grand, Inc. (Nasdaq: BGLV),
a gaming and entertainment company that was acquired by Bally's Entertainment Corp., and New Millennium Homes, LLC, a California
based homebuilding company. Mr. Burnham received a Bachelor of Arts degree in Business Economics from University of California
Santa Barbara and an M.B.A. degree from Pepperdine University. He is well qualified to serve on our board due to his extensive
experience in distressed debt and equity investments and public companies.
Shelley Greenhaus, Director Nominee
Shelley Greenhaus our director nominee,
is the founder and President of Whippoorwill Associates, Inc., which manages investments in corporate reorganizations, liquidations
and other related activities and was founded in December 1990. Prior to that, from 1983 to 1990, he worked as a portfolio manager
at Oppenheimer & Co. Inc., a full-service brokerage firm and investment bank, with responsibility for distressed investments.
From 1981 to 1983
,
Mr. Greenhaus became a financial analyst and portfolio manager
for the William Rosenwald Family, a family office, where he was primarily involved in analyzing and managing investments involving
corporate reorganizations, liquidations and related special situations.
He began
his business career in 1978, working as a financial analyst at Loeb, Rhoades, Hornblower & Co., a brokerage company, where
he was primarily involved in analyzing risk arbitrage opportunities and distressed securities.
From January 1999 to October 2003, Mr. Greenhaus served on the board of directors of Barneys New York, Inc. (Nasdaq: BNNY),
a fashion retailer; from October 1998 to December 2004, he served on the board of director of Marvel Enterprises, Inc. (NYSE:
MVL), a content entertainment company; and from November 1996 to December 2004, he served on the board of directors of GWI Holding,
Inc. (Garden Way), a privately held power equipment company.  In October 2017, he joined the board of directors of Commercial
Furniture Group, Inc., a commercial furnishings company. Mr. Greenhaus received his Bachelor of Arts in Political Science from
York College (City University of New York) and an M.B.A. degree from New York University Stern School of Business. He is well
qualified to serve on our board due to his extensive corporate reorganization and distressed securities experience.
Jeremy Hedberg,
Director Nominee
Mr. Jeremy Hedberg, our director nominee,
has worked as a Partner, Co-Chief Investment Officer and Co-Head of Corporate and Traded Credit at Värde Partners, Inc. ("Värde"),
a global alternative investment advisor currently managing $14 billion that has invested over $70 billion since inception. He
joined Värde in November 1997 and has managed Värde's liquid investing activities globally and led Värde's
significant investments in the residential mortgage sector in the U.S. He has served on a number of boards of portfolio companies
owned by the Värde funds. He has also served on many official creditors' committees and a number of adhoc committees
to restructure companies in bankruptcy, including, but not limited to, Capmark Financial Group, Inc. a commercial finance company,
Chiquita Brands International, Inc., a global fruit and food company, and Flag Telecom Holdings Ltd, a provider of international
wholesale network services. Prior to joining Värde, Jeremy worked for Goldner Hawn Johnson & Morrison, a private equity
fund specializing in middle-market leveraged buyouts, from June 1996 to October 1997. He also previously worked for Wessels, Arnold
 & Henderson, a full-service investment bank specializing in high-growth companies, from May 1994 to June 1996. Mr. Hedberg
receive a Bachelor of Arts degree in Economics and Business Administration from University of St. Thomas. He is well qualified
to serve on our board due to his extensive alternative investment and corporate restructure experience.
Charles Yamarone,
Director Nominee
Mr. Charles Yamarone, our director nominee,
has served as the Chief Corporate Governance and Compliance Officer of Houlihan Lokey (NYSE: HLI), a global investment bank, since
January 2016, where he advises senior management on all aspects of Houlihan Lokey's corporate governance, compliance and
internal audit, including Houlihan Lokey's initial public offering in August 2015. From January 2014 to May 2015, he was
a Managing Director in Houlihan Lokey's capital markets group, where he had been a senior investment banker since November
2009.  Between 1991 and 2009, Mr. Yamarone was a senior officer of Libra Securities, an institutional broker dealer, and
he was involved in all areas of Libra Securities' business, including capital markets, corporate finance, sales and trading,
research, legal, compliance, and operations.  From January 1996 to July 2020, Mr. Yamarone was a director of the El Paso
Electric Company (NYSE: EE), where he served as chairman of the audit committee, compensation committee and a member of the energy
and resource committee. He was the Chairman of the Board of El Paso Electric from February 2015 until July 2020. From October
2010 to June 2016, Mr. Yamarone served as a member of the board of directors, chair of the compensation committee, a member of
the executive committee and audit committee of United Continental Holdings, Inc. (NYSE: UAL).  From February 1995 to October
2010, Mr. Yamarone served as a member of the board of directors of Continental Airlines, Inc. (NYSE: CAL), where he was chairman
of the human resources committee and a member of the corporate governance committee.  He previously served as a director
of other companies, including Bally's Grand, Inc., (Nasdaq: BGLV), a gaming and entertainment company that was acquired by Bally's
Entertainment Corp., LIVE Entertainment, Inc. (Nasdaq: LVE), a film distribution company that was acquired by Bain Capital in
1997 and became Artisan Entertainment, Inc., Merry-Go-Round Enterprises, Inc. (NYSE: MGRE), a national clothing retail chain,
and Vagabond Inn Corporation, a hotel chain. Mr. Yamarone holds a B.A. in Economics and a J.D. from University of California,
Berkeley. Mr. Yamarone is well qualified to serve on our board due to his extensive knowledge of capital markets, corporate finance,
corporate governance, internal controls over financial reporting and auditing, as well as his public company experience.
97
Number and Terms of Office of Officers and Directors
We will have 5 directors upon completion
of this offering. Our board of directors will be divided into three classes with only one class of directors being elected in
each year and each class (except for those directors appointed prior to our first annual meeting of stockholders) serving a three-year
term. 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. The term of office of the first class of directors, consisting
of Mr. Yamarone, will expire at our first annual meeting of stockholders. The term of office of the second class of directors,
consisting of Messrs. Greenhaus and Hedberg, will expire at the second annual meeting of stockholders. The term of office of the
third class of directors, consisting of Messrs. Smith and Burnham, will expire at the third annual meeting of stockholders.
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 officers
may consist of a Chairman of the Board, Chief Executive Officer, Chief Financial Officer, President, Vice Presidents, Secretary,
Treasurer, Assistant Secretaries and such other offices as may be determined by the board of directors.
Pursuant to an agreement to be entered into
on or prior to the closing of this offering, our sponsor, upon and following consummation of an initial business combination,
will be entitled to nominate three individuals for election to our board of directors, as long as the sponsor holds any securities
covered by the registration and shareholder rights agreement.
Director Independence
Nasdaq listing standards require 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 has determined that Messrs. Greenhaus, Hedberg and Yamarone are
 "independent directors" 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.
Officer and Director Compensation
None of our officers has received any cash
compensation for services rendered to us. Commencing on the date of this prospectus, we have agreed to pay our sponsor a total
of $10,000 per month for office space, utilities and secretarial and administrative support. Upon completion of our initial business
combination or our liquidation, we will cease paying these monthly fees. No compensation of any kind, including any finder's
fee, reimbursement or consulting fee, will be paid by us to our sponsor, officers and directors, or any affiliate of our sponsor
or officers, prior to, or in connection with any services rendered in order to effectuate, the consummation of our initial business
combination (regardless of the type of transaction that it is). However, these individuals will be reimbursed for any out-of-pocket
expenses incurred in connection with activities on our behalf such as identifying potential target businesses and performing due
diligence on suitable business combinations. We do not have a policy that prohibits our sponsor, executive officers or directors,
or any of their respective affiliates, from negotiating for the reimbursement of out-of-pocket expenses by a target business.
Our audit committee will review on a quarterly basis all payments that were made to our sponsor, officers or directors, or our
or their affiliates. Any such payments prior to an initial business combination will be made using funds held outside the trust
account. Other than quarterly audit committee review of such payments, we do not expect to have any additional controls in place
governing our reimbursement payments to our directors and executive officers for their out-of-pocket expenses incurred in connection
with identifying and consummating an initial business combination.
98
After the completion of our initial business
combination, directors or members of our management team who remain with us may be paid consulting or management fees from the
combined company. All of these fees will be fully disclosed to stockholders, to the extent then known, in the tender offer materials
or proxy solicitation materials furnished to our stockholders in connection with a proposed initial business combination. We have
not established any limit on the amount of such fees that may be paid by the combined company to our directors or members of management.
It is unlikely the amount of such compensation will be known at the time of the proposed initial business combination, because
the directors of the post-combination business will be responsible for determining officer and director compensation. Any compensation
to be paid to our officers will be determined, or recommended to the board of directors for determination, either by a compensation
committee constituted solely by independent directors or by a majority of the independent directors on our board of directors.
We do not intend to take any action to ensure
that members of our management team maintain their positions with us after the consummation of our initial business combination,
although it is possible that some or all of our officers and directors may negotiate employment or consulting arrangements to
remain with us after our initial business combination. The existence or terms of any such employment or consulting arrangements
to retain their positions with us may influence our management's motivation in identifying or selecting a target business
but we do not believe that the ability of our management to remain with us after the consummation of our initial business combination
will be a determining factor in our decision to proceed with any potential business combination. We are not party to any agreements
with our officers and directors that provide for benefits upon termination of employment.
Committees of the Board of Directors
Our board of directors will have two standing
committees: an audit committee and a compensation committee. Subject to phase-in rules and a limited exception, Nasdaq rules and
Rule 10A-3 of the Exchange Act require that the audit committee of a listed company be comprised solely of independent directors,
and Nasdaq rules require that the compensation committee of a listed company be comprised solely of independent directors.
Audit Committee
Prior to the consummation of this offering,
we will establish an audit committee of the board of directors. Messrs. Greenhaus, Hedberg and Yamarone will serve as members
of our audit committee, and Mr. Yamarone will chair the audit committee. Under the Nasdaq listing standards and applicable SEC
rules, we are required to have at least three members of the audit committee, all of whom must be independent. Each of Messrs.
Greenhaus, Hedberg and Yamarone meet the independent director standard under Nasdaq listing standards and under Rule 10-A-3(b)(1)
of the Exchange Act.
Each member of the audit committee is financially
literate and our board of directors has determined that Mr. Yamarone qualifies as an "audit committee financial expert"
as defined in applicable SEC rules.
We will adopt an audit committee charter,
which will detail the principal functions of the audit committee, including:
•
the appointment,
                                         compensation, retention, replacement, and oversight of the work of the independent registered
                                         public accounting firm engaged by us;
•
pre-approving
                                         all audit and permitted non-audit services to be provided by the independent registered
                                         public accounting firm engaged by us, and establishing pre-approval policies and procedures;
•
setting
                                         clear hiring policies for employees or former employees of the independent registered
                                         public accounting firm, including but not limited to, as required by applicable laws
                                         and regulations;
•
setting
                                         clear policies for audit partner rotation in compliance with applicable laws and regulations;
•
obtaining
                                         and reviewing a report, at least annually, from the independent registered public accounting
                                         firm describing (i) the independent registered public accounting firm's internal
                                         quality-control procedures, (ii) any material issues raised by the most recent internal
                                         quality-control review, or peer review, of the audit firm, or by any inquiry or investigation
                                         by governmental or professional authorities within the preceding five years respecting
                                         one or more independent audits carried out by the firm and any steps taken to deal with
                                         such issues and (iii) all relationships between the independent registered public accounting
                                         firm and us to assess the independent registered public accounting firm's independence;
99
•
reviewing
                                         and approving any related party transaction required to be disclosed pursuant to Item
                                         404 of Regulation S-K promulgated by the SEC prior to us entering into such transaction;
                                         and
•
reviewing
                                         with management, the independent registered public accounting firm, and our legal advisors,
                                         as appropriate, any legal, regulatory or compliance matters, including any correspondence
                                         with regulators or government agencies and any employee complaints or published reports
                                         that raise material issues regarding our financial statements or accounting policies
                                         and any significant changes in accounting standards or rules promulgated by the Financial
                                         Accounting Standards Board, the SEC or other regulatory authorities.
Compensation Committee
Prior to the consummation
of this offering, we will establish a compensation committee of the board of directors. Messrs. Greenhaus and Yamarone will serve
as members of our compensation committee. Under the Nasdaq listing standards and applicable SEC rules, we are required to have
at least two members of the compensation committee, all of whom must be independent. Messrs. Greenhaus and Yamarone are independent
and Mr. Greenhaus will chair 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, if any is paid by us, evaluating our Chief Executive
                                         Officer's performance in light of such goals and objectives and determining and
                                         approving the remuneration (if any) of our Chief Executive Officer based on such
                                         evaluation;
•
reviewing
                                         and approving on an annual basis the compensation, if any is paid by us, of all of our
                                         other officers;
•
reviewing
                                         on an annual basis 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 officers and employees;
•
if required,
                                         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.
Notwithstanding the foregoing, as indicated
above, other than the payment to our sponsor of $10,000 per month, for up to 24 months, for office space, utilities and secretarial
and administrative support and reimbursement of expenses, no compensation of any kind, including finders, consulting or other
similar fees, will be paid to any of our existing stockholders, officers, directors or any of their respective affiliates, prior
to, or for any services they render in order to effectuate the consummation of an initial business combination. Accordingly, it
is likely that prior to the consummation of an initial business combination, the compensation committee will only be responsible
for the review and recommendation of any compensation arrangements to be entered into in connection with such initial business
combination.
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.
100
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 of the Nasdaq rules, a majority of the independent directors may recommend a director nominee for
selection by the board of directors. The board of directors believes that the independent directors can satisfactorily carry out
the responsibility of properly selecting or approving director nominees without the formation of a standing nominating committee.
The directors who will participate in the consideration and recommendation of director nominees are Messrs. Greenhaus, Hedberg
and Yamarone. In accordance with Rule 5605 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 our board of directors 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.
Code of Ethics
Prior to the consummation of this offering,
we will have adopted a Code of Ethics applicable to our directors, officers and employees. We will file a copy of our Code of
Ethics and our audit and compensation committee charters as exhibits to the registration statement of which this prospectus is
a part. You will be able to review these documents by accessing our public filings at the SEC's web site at
www.sec.gov
.
In addition, a copy of the Code of Ethics will be provided without charge upon request from us. We intend to disclose any amendments
to or waivers of certain provisions of our Code of Ethics in a Current Report on Form 8-K. See the section of this prospectus
entitled "Where You Can Find Additional Information."
Conflicts of Interest
Each of our officers and directors presently
has, and any of them in the future may have additional, fiduciary or contractual obligations to other entities (including investment
vehicles that may pursue investment opportunities suitable for us) pursuant to which such officer or director is or will be required
to present a business combination opportunity. Accordingly, if any of our officers or directors becomes aware of a business combination
opportunity which is suitable for an entity to which he or she has then-current fiduciary or contractual obligations to present
the opportunity to such entity, he or she will honor his or her fiduciary or contractual obligations to present such opportunity
to such entity. We believe, however, that the fiduciary duties or contractual obligations of our officers or directors will not
materially affect our ability to complete our initial business combination, as we believe any such opportunities presented would
be smaller than what we are interested in, in different fields than what we would be interested in, or to entities that are not
themselves in the business of engaging in business combinations. Our amended and restated certificate of incorporation will provide
that we renounce our interest in any corporate opportunity offered to any director or officer unless such opportunity is expressly
offered to such person solely in his or her capacity as a director or officer of our company and such opportunity is one we are
legally and contractually permitted to undertake and would otherwise be reasonable for us to pursue, and to the extent the director
or officer is permitted to refer that opportunity to us without violating another legal obligation.
Our officers have agreed not to become an
officer of any other special purpose acquisition company with a class of securities intended to be registered under the Securities
Exchange Act of 1934, as amended, or the Exchange Act, which has publicly filed a registration statement with the SEC until we
have entered into a definitive agreement regarding our initial business combination or we have failed to complete our initial
business combination within 24 months from the consummation of this offering.
101
Potential investors should also be aware
of the following other potential conflicts of interest:
•
None of
                                         our officers or directors is required to commit his or her full time to our affairs and,
                                         accordingly, may have conflicts of interest in allocating his or her time among various
                                         business activities.
•
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 us as well as
                                         the other entities (including investment vehicles that may pursue investment opportunities
                                         suitable for us) with which they are affiliated. Our management may have conflicts of
                                         interest in determining to which entity a particular business opportunity should be presented.
•
Our initial
                                         stockholders have agreed to waive their redemption rights with respect to any founder
                                         shares and any public shares held by them in connection with the consummation of our
                                         initial business combination. Additionally, our initial stockholders have agreed to waive
                                         their redemption rights with respect to any founder shares held by them if we fail to
                                         consummate our initial business combination within 24 months after the closing of this
                                         offering. If we do not complete our initial business combination within such applicable
                                         time period, the proceeds of the sale of the private placement warrants held in the trust
                                         account will be used to fund the redemption of our public shares, and the private placement
                                         warrants will expire worthless. With certain limited exceptions, the founder shares will
                                         not be transferable, assignable by our sponsor until the earlier of: (A) one year after
                                         the completion of our initial business combination or (B) subsequent to our initial business
                                         combination, (x) if the last sale price of our Class A common stock equals or exceeds
                                         $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations
                                         and the like) for any 20 trading days within any 30-trading day period commencing at
                                         least 150 days after our initial business combination, or (y) the date on which we complete
                                         a liquidation, merger, capital stock exchange, reorganization or other similar transaction
                                         that results in all of our stockholders having the right to exchange their shares of
                                         common stock for cash, securities or other property. With certain limited exceptions,
                                         the private placement warrants and the Class A common stock underlying such warrants,
                                         will not be transferable, assignable or saleable by our sponsor or its permitted transferees
                                         until 30 days after the completion of our initial business combination. Since our sponsor
                                         and officers and directors may directly or indirectly own common stock and warrants following
                                         this offering, our officers and directors may have a conflict of interest in determining
                                         whether a particular target business is an appropriate business with which to effectuate
                                         our initial business combination.
•
Our officers
                                         and directors may have a conflict of interest with respect to evaluating a particular
                                         business combination if the retention or resignation of any such officers and directors
                                         were to be included by a target business as a condition to any agreement with respect
                                         to our initial business combination.
•
Our sponsor,
                                         officers or directors may have a conflict of interest with respect to evaluating a business
                                         combination and financing arrangements as we may obtain loans from our sponsor or an
                                         affiliate of our sponsor or any of our officers or directors to finance transaction costs
                                         in connection with an intended initial business combination. Up to $1,500,000 of such
                                         loans may be convertible into warrants at a price of $1.00 per warrant at the option
                                         of the lender. Such warrants would be identical to the private placement warrants, including
                                         as to exercise price, exercisability and exercise period.
The conflicts described above may not be
resolved in our favor.
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 our company 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 (including investment vehicles that may pursue investment opportunities suitable
for us). Furthermore, our amended and restated certificate of incorporation will provide that we renounce our interest in any
corporate opportunity offered to any director or officer unless such opportunity is expressly offered to such person solely in
his or her capacity as a director or officer of our company and such opportunity is one we are legally and contractually permitted
to undertake and would otherwise be reasonable for us to pursue, and to the extent the director or officer is permitted to refer
that opportunity to us without violating another legal obligation.
102
Below is a table summarizing the entities
to which our executive officers, directors and director nominees currently have fiduciary duties:
Individual
Entity
Entity's
    Business
Affiliation
Stephen C. Smith(1)
Seaport Global Holdings, LLC
Asset Management / Securities Brokerage / Other
Chief Executive Officer / Principal
Michael Ring
Seaport Global Asset Management LLC
Asset Management
Chief Financial Officer / Chief Compliance Officer
Jay Burnham
Seaport Global Asset Management LLC
Asset Management
Senior Advisor / Investment Committee
Shelley Greenhaus
Commercial Furniture Group, Inc.
Furnishings
Board of Directors
Jeremy Hedberg
Värde Partners,
    Inc.
Asset Management
Senior Advisor / Investment Committee
Charles Yamarone
Houlihan Lokey,
    Inc.
Investment Banking
Chief Corporate Governance & Compliance
    Officer
(1)
Mr. Smith, our Chairman and Chief Executive Officer, is
                                         the Chairman of Seaport Global Holdings, LLC, which is the holding company that has sole
                                         ownership of Seaport Global Asset Management, LLC (and its affiliates), and Seaport Global
                                         Securities, LLC, a broker dealer that executes transactions on behalf of Seaport Global
                                         Asset Management LLC and third party clients.
Accordingly, if any of the above executive
officers, directors or director nominees becomes aware of a business combination opportunity which is suitable for any of the
above entities to which he or she has current 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 are not prohibited from pursuing an initial
business combination with a company that is affiliated with our sponsor, officers or directors (including any investment vehicles
to which any of the foregoing provide investment advice). In the event we seek to complete our initial business combination with
such a company, we, or a committee of independent directors, would obtain an opinion from an independent investment banking firm
or from another independent entity that commonly renders valuation opinions, that such an initial business combination is fair
to our company from a financial point of view.
In the event that we submit our initial
business combination to our public stockholders for a vote, pursuant to the letter agreement, our sponsor, officers and directors
have agreed to vote any founder shares held by them and any public shares purchased during or after the offering (including in
open market and privately negotiated transactions) in favor of our initial business combination.
Limitation on Liability and Indemnification of Officers
and Directors
Our amended and restated certificate of
incorporation will provide that our officers and directors will be indemnified by us to the fullest extent authorized by Delaware
law, as it now exists or may in the future be amended. In addition, our amended and restated certificate of incorporation will
provide that our directors will not be personally liable for monetary damages to us or our stockholders 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.
103
We will enter into agreements with our officers
and directors to provide contractual indemnification in addition to the indemnification provided for in our amended and restated
certificate of incorporation. Our bylaws also 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 such indemnification. We
will purchase a policy of directors' and officers' liability insurance that insures our officers and directors against
the cost of defense, settlement or payment of a judgment in some circumstances and insures us against our obligations to indemnify
our officers and directors. Except with respect to any public shares they may acquire in this offering or thereafter (in the
event we do not consummate an initial business combination), our officers and directors have agreed to waive (and any other persons
who may become an officer or director prior to the initial business combination will also be required to waive) any right, title,
interest or claim of any kind in or to any monies in the trust account, and not to seek recourse against the trust account for
any reason whatsoever, including with respect to such indemnification.
These provisions may discourage stockholders
from bringing a lawsuit against our directors for breach of their fiduciary duty. These provisions also may have the effect of
reducing the likelihood of derivative litigation against officers and directors, even though such an action, if successful, might
otherwise benefit us and our stockholders. Furthermore, a stockholder's investment may be adversely affected to the extent
we pay the costs of settlement and damage awards against officers and directors pursuant to these indemnification provisions.
We believe that these provisions, the directors'
and officers' liability insurance and the indemnity agreements are necessary to attract and retain talented and experienced
officers and directors.
104
PRINCIPAL STOCKHOLDERS
The following table sets forth information
regarding the beneficial ownership of our common stock as of the date of this prospectus, and as adjusted to reflect the sale
of our common stock included in the units offered by this prospectus, and assuming no purchase of units in this offering, by:
•
each
                                         person known by us to be the beneficial owner of more than 5% of our outstanding shares
                                         of common stock;
•
each
                                         of our executive officers, directors and director nominees that beneficially owns shares
                                         of our common stock; and
•
all our
                                         executive officers, directors and director nominees as a group.
Unless otherwise indicated, we believe that
all persons named in the table have sole voting and investment power with respect to all shares of common stock beneficially owned
by them. The following table does not reflect record or beneficial ownership of the private placement warrants as these warrants
are not exercisable within 60 days of the date of this prospectus.
In July 2020, our sponsor purchased 3,593,750
founder shares for an aggregate purchase price of $25,000, or approximately $0.007 per share. The following table presents the
number of shares and percentage of our common stock owned by our initial stockholders before and after this offering. The post-offering
numbers and percentages presented assume that the underwriters do not exercise their over-allotment option, that our sponsor forfeit
468,750 founder shares on a pro rata basis, and that there are 15,625,000 shares of our common stock, consisting of (i) 12,500,000
shares of our Class A common stock and (ii) 3,125,000 shares of our Class B common stock, issued and outstanding after this offering.
Before Offering
After Offering
Name and Address
    of Beneficial Owner
(1)
Number
of Shares
Beneficially
Owned
(2)
Approximate
Percentage of
Outstanding
Common Stock
Number
of Shares
Beneficially
Owned
(2)
Approximate
Percentage of
Outstanding
Common Stock
Seaport Global SPAC, LLC
(3)
3,593,750
100.0
%
3,125,000
20.0
%
Stephen C. Smith
(3)
3,593,750
100.0
%
3,125,000
20.0
%
Michael Ring
(4)
—
—
—
—
Jay Burnham
(4)
—
—
—
—
Shelley Greenhaus
(4)
—
—
—
—
Jeremy Hedberg
(4)
—
—
—
—
Charles Yamarone
(4)
—
—
—
—
All executive officers, directors and director
    nominees as a group (6 individuals)
3,593,750
100.0
%
3,125,000
20.0
%
*
less than 1%
(1)
Unless otherwise noted, the business
                                         address of each of the following entities or individuals is c/o Seaport Global Acquisition
                                         Corp., 360 Madison Avenue, 20th Floor, New York, NY 10017.
(2)
Interests shown consist solely of founder
                                         shares, classified as shares of Class B common stock. Such shares are convertible into
                                         shares of Class A common stock on a one-for-one basis, subject to adjustment, as described
                                         in the section of this prospectus entitled "Description of Securities."
(3)
Seaport Global SPAC, LLC, our sponsor, is the record holder of the securities reported
                                                  herein. Seaport Global Asset Management, LLC is the managing member of our sponsor and Stephen Smith, our Chairman and Chief
                                                  Executive Officer, is the Chief Executive Officer of Seaport Global Asset Management, LLC. By virtue of these relationships,
                                                  Mr. Smith may be deemed to have or share beneficial ownership of the securities held of record by our sponsor. Mr. Smith
                                                  disclaims any such beneficial ownership except to the extent of his pecuniary interest.
(4)
Each of these individuals holds a direct or indirect interest in our sponsor. Each
                                       such person disclaims any beneficial ownership of the reported shares other than to the
                                       extent of any pecuniary interest they may have therein, directly or indirectly.
Immediately after this offering, our initial
stockholders will beneficially own 20% of the then-issued and outstanding shares of our common stock (assuming they do not purchase
any units in this offering). Neither our sponsor nor any of our officers or directors have expressed an intention to purchase
any units in this offering. If we increase or decrease the size of the offering, we will effect a stock dividend or a share contribution
back to capital, or other appropriate mechanism, as applicable, with respect to our Class B common stock immediately prior to
the consummation of the offering in such amount as to maintain the ownership of our initial stockholders at 20.0% of the issued
and outstanding shares of our common stock upon the consummation of this offering. Because of this ownership block, our initial
stockholders may be able to effectively influence the outcome of all matters requiring approval by our stockholders, including
the election of directors, amendments to our amended and restated certificate of incorporation and approval of significant corporate
transactions, including approval of our initial business combination.
The holders of the founder shares have agreed
(A) to vote any shares owned by them in favor of any proposed initial business combination and (B) not to redeem any shares in
connection with a stockholder vote to approve a proposed initial business combination.
Our sponsor and our executive officers and
directors are deemed to be our "promoters" as such term is defined under the federal securities laws.
105
Restrictions on Transfers of Founder Shares and Private
Placement Warrants
The founder shares, private placement warrants
and any shares of Class A common stock issued upon conversion or exercise thereof are each subject to transfer restrictions pursuant
to lock-up provisions in a letter agreement with us to be entered into by our sponsor, officers and directors. Those lock-up provisions
provide that such securities are not transferable or salable (i) in the case of the founder shares, until the earlier of (A) one
year after the completion of our initial business combination or (B) subsequent to our initial business combination, (x) if the
last sale price of our Class A common stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends,
reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least
150 days after our initial business combination, or (y) the date on which we complete a liquidation, merger, capital stock exchange,
reorganization or other similar transaction that results in all of our stockholders having the right to exchange their shares
of common stock for cash, securities or other property, and (ii) in the case of the private placement warrants and the Class A
common stock underlying such warrants, until 30 days after the completion of our initial business combination, except in each
case (a) to our officers or directors, any affiliates or family members of any of our officers or directors, any members of our
sponsor, or any affiliates of our sponsor, (b) in the case of an individual, by gift to a member of one of the members of the
individual's immediate family or to a trust, the beneficiary of which is a member of one of the individual's immediate
family, an affiliate of such person or to a charitable organization; (c) in the case of an individual, by virtue of laws of descent
and distribution upon death of the individual; (d) in the case of an individual, pursuant to a qualified domestic relations order;
(e) by private sales or transfers made in connection with the consummation of an initial business combination at prices no greater
than the price at which the shares or warrants were originally purchased; (f) in the event of our liquidation prior to the completion
of our initial business combination; (g) by virtue of the laws of Delaware or our sponsor's limited liability company agreement
upon dissolution of our sponsor; or (h) in the event of our liquidation, merger, capital stock exchange, reorganization 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 subsequent to our completion of our initial business combination; provided, however, that in the
case of clauses (a) through (e) or (g) these permitted transferees must enter into a written agreement agreeing to be bound by
these transfer restrictions and the other restrictions contained in the letter agreements and by the same agreements entered into
by our sponsor with respect to such securities (including provisions relating to voting, the trust account and liquidation distributions
described elsewhere in this prospectus).
Registration Rights
The holders of the founder shares, private
placement warrants and private placement warrants that may be issued upon conversion of working capital loans will have registration
rights to require us to register a sale of any of our securities held by them pursuant to a registration and shareholder rights
agreement to be signed prior to or on the effective date of this offering. Pursuant to the registration rights agreement and assuming
the underwriters exercise their over-allotment option in full and $1,500,000 of working capital loans are converted into private
placement warrants, we will be obligated to register up to 9,718,750 shares of Class A common stock and 6,125,000 warrants. The
number of shares of Class A common stock includes (i) 3,593,750 shares of Class A common stock to be issued upon conversion of
the founder shares, (ii) 4,625,000 shares of Class A common stock underlying the private placement warrants and (iii) 1,500,000
shares of Class A common stock underlying the private placement warrants issued upon conversion of working capital loans. These
holders will be entitled to make up to three demands, excluding short form registration demands, that we register such securities
for sale under the Securities Act. In addition, these holders will have "piggy-back" registration rights to include
their securities in other registration statements filed by us.
106
CERTAIN RELATIONSHIPS
AND RELATED PARTY TRANSACTIONS
In July 2020, our sponsor purchased 3,593,750
founder shares for an aggregate purchase price of $25,000, or approximately $0.007 per share. The number of founder shares issued
was determined based on the expectation that such founder shares would represent 20% of the outstanding shares upon completion
of this offering. If we increase or decrease the size of the offering we will effect a stock dividend or a share contribution
back to capital or other appropriate mechanism, as applicable, with respect to our Class B common stock immediately prior to the
consummation of the offering in such amount as to maintain the ownership of our initial stockholders at 20.0% of the issued and
outstanding shares of our common stock upon the consummation of this offering. Up to 468,750 founder shares are subject to forfeiture
by our sponsor depending on the extent to which the underwriters' over-allotment option is exercised. The founder shares
(including the Class A common stock issuable upon exercise thereof) may not, subject to certain limited exceptions, be transferred,
assigned or sold by the holder.
Our sponsor has committed, pursuant to a
written agreement, to purchase an aggregate of 4,250,000 private placement warrants (or 4,625,000 private placement warrants if
the over-allotment option is exercised in full) at a price of $1.00 per warrant ($4,250,000 in the aggregate, or $4,625,000 if
the over-allotment option is exercised in full) in a private placement that will occur simultaneously with the closing of this
offering. As such, our sponsor's interest in this transaction is valued at $4,250,000, (or $4,625,000 if the over-allotment
option is exercised in full) depending on the number of private placement warrants purchased. Each private placement warrant entitles
the holder thereof to purchase one share of our Class A common stock at a price of $11.50 per share. The private placement warrants
(including the Class A common stock issuable upon exercise thereof) may not, subject to certain limited exceptions, be transferred,
assigned or sold by the holder until 30 days after the completion of our initial business combination.
As more fully discussed in the section of
this prospectus entitled "Management — Conflicts of Interest," if any of our officers or directors becomes aware
of an initial business combination opportunity that falls within the line of business of any entity to which he or she has then-current
fiduciary or contractual obligations, he or she will honor his or her fiduciary or contractual obligations to present such business
combination opportunity to such other entity. Our officers and directors currently have certain relevant fiduciary duties or contractual
obligations that may take priority over their duties to us.
Commencing on the date of this prospectus,
we have agreed to pay our sponsor a total of $10,000 per month for office space, utilities and secretarial and administrative
support. Upon completion of our initial business combination or our liquidation, we will cease paying these monthly fees.
Other than the foregoing, no compensation
of any kind, including any finder's fee, reimbursement, consulting fee or monies in respect of any payment of a loan, will
be paid by us to our sponsor, officers and directors, or any affiliate of our sponsor or officers, prior to, or in connection
with any services rendered in order to effectuate, the consummation of an initial business combination (regardless of the type
of transaction that it is). However, these individuals will be reimbursed for any out-of-pocket expenses incurred in connection
with activities on our behalf such as identifying potential target businesses and performing due diligence on suitable business
combinations. We do not have a policy that prohibits our sponsor, executive officers or directors, or any of their respective
affiliates, from negotiating for the reimbursement of out-of-pocket expenses by a target business. Our audit committee will review
on a quarterly basis all payments that were made to our sponsor, officers, directors or our or their affiliates and will determine
which expenses and the amount of expenses that will be reimbursed. There is no cap or ceiling on the reimbursement of out-of-pocket
expenses incurred by such persons in connection with activities on our behalf.
Prior to the closing of this offering, our
sponsor has agreed to loan us up to $300,000 to be used for a portion of the expenses of this offering. As of August 17, 2020,
we borrowed $60,266 (of up to $300,000 available to us) under the promissory note with our sponsor to be used for a portion of
the expenses of this offering. These loans are non-interest bearing, unsecured and are due at the earlier of March 31, 2021 or
the closing of this offering. The loan will be repaid upon the closing of this offering out of the estimated $750,000 of offering
proceeds that has been allocated to the payment of offering expenses (other than underwriting commissions). The value of our sponsor's
interest in this transaction corresponds to the principal amount outstanding under any such loan.
107
In addition, in order to finance transaction
costs in connection with an intended initial business combination, our sponsor or an affiliate of our sponsor or certain of our
officers and directors may, but are not obligated to, loan us funds on a non-interest bearing basis as may be required. If we
complete an initial business combination, we would repay such loaned amounts. In the event that the initial business combination
does not close, we may use a portion of the working capital held outside the trust account to repay such loaned amounts but no
proceeds from our trust account would be used for such repayment. Up to $1,500,000 of such loans may be convertible into warrants
at a price of $1.00 per warrant at the option of the lender. The warrants would be identical to the private placement warrants,
including as to exercise price, exercisability and exercise period. We do not expect to seek loans from parties other than our
sponsor or an affiliate of our sponsor as we do not believe third parties will be willing to loan such funds and provide a waiver
against any and all rights to seek access to funds in our trust account.
Any of the foregoing payments to our sponsor,
repayments of loans from our sponsor or repayments of working capital loans prior to our initial business combination will be
made using funds held outside the trust account.
After our initial business combination,
members of our management team who remain with us may be paid consulting, management or other fees from the combined company with
any and all amounts being fully disclosed to our stockholders, to the extent then known, in the tender offer or proxy solicitation
materials, as applicable, furnished to our stockholders. It is unlikely the amount of such compensation will be known at the time
of distribution of such tender offer materials or at the time of a stockholder meeting held to consider our initial business combination,
as applicable, as it will be up to the directors of the post-combination business to determine executive and director compensation.
We will enter into a registration and shareholder
rights agreement with respect to the private placement warrants, the warrants issuable upon conversion of working capital loans
(if any) and the shares of Class A common stock issuable upon exercise of the foregoing and upon conversion of the founder shares,
which is described under the section of this prospectus entitled "Description of Securities — Registration Rights."
Related Party Policy
We have not yet adopted a formal policy
for the review, approval or ratification of related party transactions. Accordingly, the transactions discussed above were not
reviewed, approved or ratified in accordance with any such policy.
Prior to the consummation of this offering,
we will adopt a code of ethics requiring us to avoid, wherever possible, all conflicts of interests, except under guidelines or
resolutions approved by our board of directors (or the appropriate committee of our board) or as disclosed in our public filings
with the SEC. Under our code of ethics, conflict of interest situations will include any financial transaction, arrangement or
relationship (including any indebtedness or guarantee of indebtedness) involving the company. A form of the code of ethics that
we plan to adopt prior to the consummation of this offering is filed as an exhibit to the registration statement of which this
prospectus is a part.
In addition, our audit committee, pursuant
to a written charter that we will adopt prior to the consummation of this offering, will be responsible for reviewing and approving
related party transactions to the extent that we enter into such transactions. An affirmative vote of a majority of the members
of the audit committee present at a meeting at which a quorum is present will be required in order to approve a related party
transaction. A majority of the members of the entire audit committee will constitute a quorum. Without a meeting, the unanimous
written consent of all of the members of the audit committee will be required to approve a related party transaction. A form of
the audit committee charter that we plan to adopt prior to the consummation of this offering is filed as an exhibit to the registration
statement of which this prospectus is a part. We also require each of our directors and executive officers to 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.
108
To further minimize conflicts of interest,
we have agreed not to consummate an initial business combination with an entity that is affiliated with any of our sponsor, officers
or directors unless we, or a committee of independent directors, have obtained an opinion from independent investment banking
firm or from another independent entity that commonly renders valuation opinions that our initial business combination is fair
to our company from a financial point of view. Furthermore, no finder's fees, reimbursements, consulting fee, monies in
respect of any payment of a loan or other compensation will be paid by us to our sponsor, officers or directors, or any affiliate
of our sponsor or officers, for services rendered to us prior to, or in connection with any services rendered in order to effectuate,
the consummation of our initial business combination (regardless of the type of transaction that it is). However, the following
payments will be made to our sponsor, officers or directors, or our or their affiliates, none of which will be made from the proceeds
of this offering held in the trust account prior to the completion of our initial business combination:
•
Repayment
                                         of up to an aggregate of $300,000 in loans made to us by our sponsor to cover offering-related
                                         and organizational expenses;
•
Payment
                                         to our sponsor of $10,000 per month, for up to 24 months, for office space, utilities
                                         and secretarial and administrative support;
•
Reimbursement
                                         for any out-of-pocket expenses related to identifying, investigating and completing an
                                         initial business combination; and
•
Repayment
                                         of non-interest bearing loans which may be made by our sponsor or an affiliate of our
                                         sponsor or certain of our officers and directors to finance transaction costs in connection
                                         with an intended initial business combination. Up to $1,500,000 of such loans may be
                                         convertible into warrants, at a price of $1.00 per warrant at the option of the lender.
Our audit committee will review on a quarterly
basis all payments that were made to our sponsor, officers or directors, or our or their affiliates.
109
DESCRIPTION OF
SECURITIES
Pursuant to our amended and restated certificate
of incorporation, our authorized capital stock consists of 100,000,000 shares of Class A common stock, $0.0001 par value, 10,000,000
shares of Class B common stock, $0.0001 par value, and 1,000,000 shares of undesignated preferred stock, $0.0001 par value. The
following description summarizes the material terms of our capital stock. Because it is only a summary, it may not contain all
the information that is important to you.
Units
Each unit has an offering price of $10.00
and consists of one whole share of Class A common stock and one-half of one redeemable warrant. Each whole warrant entitles the
holder thereof to purchase one share of our Class A common stock at a price of $11.50 per share, subject to adjustment as described
in this prospectus. Pursuant to the warrant agreement, a warrantholder may exercise its warrants only for a whole number of shares
of Class A common stock. This means that only a whole warrant may be exercised at any given time by a warrantholder. No fractional
warrants will be issued upon separation of the units and only whole warrants will trade. Accordingly, unless you purchase at least
two units, you will not be able to receive or trade a whole warrant.
We expect the Class A common stock and warrants
comprising the units will begin separate trading on the 52
nd
day following the date of this prospectus unless B. Riley
Securities, Inc. informs us of its decision to allow earlier separate trading, subject to our having filed the Current Report
on Form 8-K described below and having issued a press release announcing when such separate trading will begin. Once the shares
of Class A common stock and warrants commence separate trading, holders will have the option to continue to hold units or separate
their units into the component securities. Holders will need to have their brokers contact our transfer agent in order to separate
the units into shares of Class A common stock and warrants.
In no event will the Class A common stock
and warrants be traded separately until we have filed with the SEC a Current Report on Form 8-K which includes an audited balance
sheet reflecting our receipt of the gross proceeds at the closing of this offering. We will file 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
Upon the closing of this offering, 15,625,000
shares of our common stock will be outstanding (assuming no exercise of the underwriters' over-allotment option and the
corresponding forfeiture of 468,750 founder shares by our sponsor), consisting of:
•
12,500,000
                                         shares of our Class A common stock underlying the units being offered in this offering;
                                         and
•
3,125,000
                                         shares of Class B common stock held by our initial stockholders.
If we increase or decrease the size of the
offering we will effect a stock dividend or a share contribution back to capital or other appropriate mechanism, as applicable,
with respect to our Class B common stock immediately prior to the consummation of the offering in such amount as to maintain the
ownership of our initial stockholders at 20.0% of the issued and outstanding shares of our common stock upon the consummation
of this offering.
Common stockholders of record are entitled
to one vote for each share held on all matters to be voted on by stockholders. Holders of the Class A common stock and holders
of the Class B common stock will vote together as a single class on all matters submitted to a vote of our stockholders, except
as required by law. Unless specified in our amended and restated certificate of incorporation or bylaws, or as required by applicable
provisions of the DGCL or applicable stock exchange rules, the affirmative vote of a majority of our shares of common stock that
are voted is required to approve any such matter voted on by our stockholders. Our board of directors will be divided into three
classes, each of which will generally serve for a term of three years with only one class of directors being elected in each year.
There is no cumulative voting with respect to the election of directors, with the result that the holders of more than 50% of
the shares voted for the election of directors can elect all of the directors. Our stockholders are entitled to receive ratable
dividends when, as and if declared by the board of directors out of funds legally available therefor.
110
Because our amended and restated certificate
of incorporation authorizes the issuance of up to 100,000,000 shares of Class A common stock, if we were to enter into an initial
business combination, we may (depending on the terms of such an initial business combination) be required to increase the number
of shares of Class A common stock which we are authorized to issue at the same time as our stockholders vote on the initial business
combination to the extent we seek stockholder approval in connection with our initial business combination.
In accordance with Nasdaq corporate governance
requirements, we are not required to hold an annual meeting until no later than one year after our first fiscal year end following
our listing on Nasdaq. Under Section 211(b) of the DGCL, we are, however, required to hold an annual meeting of stockholders for
the purposes of electing directors in accordance with our bylaws, unless such election is made by written consent in lieu of such
a meeting. We may not hold an annual meeting of stockholders to elect new directors prior to the consummation of our initial business
combination, and thus we may not be in compliance with Section 211(b) of the DGCL, which requires an annual meeting. Therefore,
if our stockholders want us to hold an annual meeting prior to the consummation of our initial business combination, they may
attempt to force us to hold one by submitting an application to the Delaware Court of Chancery in accordance with Section 211(c)
of the DGCL.
We will provide our stockholders with the
opportunity to redeem all or a portion of their public shares upon the completion of our initial business combination at a per-share
price, payable in cash, equal to the aggregate amount then on deposit in the trust account as of two business days prior to the
consummation of our initial business combination including interest earned on the funds held in the trust account and not previously
released to us to pay our taxes, divided by the number of then outstanding public shares, subject to the limitations described
herein. The amount in the trust account is initially anticipated to be approximately $10.00 per public share. The per-share amount
we will distribute to investors who properly redeem their shares will not be reduced by the deferred underwriting commissions
we will pay to the underwriters. Our sponsor, officers and directors have entered into a letter agreement with us, pursuant to
which they have agreed to waive their redemption rights with respect to any founder shares and any public shares held by them
in connection with the completion of our initial business combination. Unlike many blank check companies that hold stockholder
votes and conduct proxy solicitations in conjunction with their initial business combinations and provide for related redemptions
of public shares for cash upon completion of such initial business combinations even when a vote is not required by law, if a
stockholder vote is not required by law and we do not decide to hold a stockholder vote for business or other legal reasons, we
will, pursuant to our amended and restated certificate of incorporation, conduct the redemptions pursuant to the tender offer
rules of the SEC, and file tender offer documents with the SEC prior to completing our initial business combination. Our amended
and restated certificate of incorporation will require these tender offer documents to contain substantially the same financial
and other information about the initial business combination and the redemption rights as is required under the SEC's proxy
rules. If, however, a stockholder approval of the transaction is required by law, or we decide to obtain stockholder approval
for business or other legal reasons, we will, like many blank check companies, offer to redeem shares in conjunction with a proxy
solicitation pursuant to the proxy rules and not pursuant to the tender offer rules. If we seek stockholder approval, we will
complete our initial business combination only if a majority of the outstanding shares of common stock voted are voted in favor
of the initial business combination. A quorum for such meeting will consist of the holders present in person or by proxy of shares
of outstanding capital stock of the company representing a majority of the voting power of all outstanding shares of capital stock
of the company entitled to vote at such meeting.
However, the participation of our sponsor,
officers, directors, advisors or their affiliates in privately-negotiated transactions (as described in this prospectus), if any,
could result in the approval of our initial business combination even if a majority of our public stockholders vote, or indicate
their intention to vote, against such business combination. For purposes of seeking approval of the majority of our outstanding
shares of common stock voted, non-votes will have no effect on the approval of our initial business combination once a quorum
is obtained. We intend to give approximately 30 days (but not less than 10 days nor more than 60 days) prior written notice of
any such meeting, if required, at which a vote shall be taken to approve our initial business combination. These quorum and voting
thresholds, and the voting agreements of our initial stockholders, may make it more likely that we will consummate our initial
business combination.
111
If we seek stockholder approval of our initial
business combination and we do not conduct redemptions in connection with our initial business combination pursuant to the tender
offer rules, our amended and restated certificate of incorporation will provide that a public stockholder, together with any affiliate
of such stockholder or any other person with whom such stockholder is acting in concert or as a "group" (as defined
under Section 13 of the Exchange Act), will be restricted from redeeming its shares with respect to more than an aggregate
of 20% of the shares of common stock sold in this offering, which we refer to as the Excess Shares. However, we would not be restricting
our stockholders' ability to vote all of their shares (including Excess Shares) for or against our initial business combination.
Our stockholders' inability to redeem the Excess Shares will reduce their influence over our ability to complete our initial
business combination, and such stockholders could suffer a material loss in their investment if they sell such Excess Shares on
the open market. Additionally, such stockholders will not receive redemption distributions with respect to the Excess Shares if
we complete the initial business combination. And, as a result, such stockholders will continue to hold that number of shares
exceeding 20% and, in order to dispose such shares would be required to sell their stock in open market transactions, potentially
at a loss.
If we seek stockholder approval in connection
with our initial business combination, pursuant to the letter agreement our sponsor, officers and directors have agreed to vote
their founder shares and any public shares purchased during or after this offering (including in open market and privately negotiated
transactions) in favor of our initial business combination. As a result, in addition to our initial stockholders' founder
shares, we would need only 4,687,501, or 37.5%, of the 12,500,000 public shares sold in this offering to be voted in favor of
an initial business combination (assuming all outstanding shares are voted) in order to have our initial business combination
approved (assuming the over-allotment option is not exercised). Additionally, each public stockholder may elect to redeem its
public shares irrespective of whether they vote for or against the proposed transaction (subject to the limitation described in
the preceding paragraph).
Pursuant to our amended and restated certificate
of incorporation, if we do not complete our initial business combination within 24 months from the closing of this offering, we
will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but no more than ten
business days thereafter subject to lawfully available funds therefor, redeem the public shares, at a per-share price, payable
in cash, equal to the aggregate amount then on deposit in the trust account including interest earned on the funds held in the
trust account and not previously released to us to pay our taxes (less up to $100,000 of interest to pay dissolution expenses),
divided by the number of then outstanding public shares, which redemption will completely extinguish public stockholders'
rights as stockholders (including the right to receive further liquidating distributions, if any), subject to applicable law,
and (iii) as promptly as reasonably possible following such redemption, subject to the approval of our remaining stockholders
and our board of directors, dissolve and liquidate, subject in each case to our obligations under Delaware law to provide for
claims of creditors and the requirements of other applicable law. Our sponsor, officers and directors have entered into a letter
agreement with us, pursuant to which they have agreed to waive their rights to liquidating distributions from the trust account
with respect to any founder shares held by them if we fail to complete our initial business combination within 24 months from
the closing of this offering. However, if our initial stockholders acquire public shares in or after this offering, they will
be entitled to liquidating distributions from the trust account with respect to such public shares if we fail to complete our
initial business combination within the prescribed time period.
In the event of a liquidation, dissolution
or winding up of the company after an initial business combination, our stockholders are entitled to share ratably in all assets
remaining available for distribution to them after payment of liabilities and after provision is made for each class of stock,
if any, having preference over the common stock. Our stockholders have no preemptive or other subscription rights. There are no
sinking fund provisions applicable to the common stock, except that we will provide our stockholders with the opportunity to redeem
their public shares for cash equal to their pro rata share of the aggregate amount then on deposit in the trust account, upon
the completion of our initial business combination, subject to the limitations described herein.
Founder Shares
The founder shares are identical to the
shares of Class A common stock included in the units being sold in this offering, and holders of founder shares have the same
stockholder rights as public stockholders, except that (i) the founder shares are subject to certain transfer restrictions,
as described in more detail below, (ii) our sponsor, officers and directors have entered into a letter agreement with us, pursuant
to which they have agreed (A) to waive their redemption rights with respect to any founder shares and any public shares held by
them in connection with the completion of our initial business combination, (B) to waive their redemption rights with respect
to their founder shares and public shares in connection with a stockholder vote to approve an amendment to our amended and restated
certificate of incorporation (x) to modify the substance or timing of our obligation to allow redemption rights in connection
with any proposed initial business combination or to redeem 100% of our public shares if we do not complete our initial business
combination within 24 months from the closing of this offering or (y) with respect to any other provision relating to stockholders'
rights or pre-initial business combination activity and (C) to waive their rights to liquidating distributions from the trust
account with respect to any founder shares held by them if we fail to complete our initial business combination within 24 months
from the closing of this offering, although they will be entitled to liquidating distributions from the trust account with respect
to any public shares they hold if we fail to complete our initial business combination within such time period, (iii) the founder
shares are shares of our Class B common stock that will automatically convert into shares of our Class A common stock at the time
of our initial business combination, subject to adjustment as described herein, and (iv) are entitled to registration rights.
If we submit our initial business combination to our public stockholders for a vote, our sponsor, officers and directors have
agreed pursuant to the letter agreement to vote any founder shares held by them and any public shares purchased during or after
this offering (including in open market and privately negotiated transactions) in favor of our initial business combination.
112
The shares of Class B common stock will
automatically convert into shares of Class A common stock at the time of our initial business combination on a one-for-one basis
(subject to adjustment for stock splits, stock dividends, reorganizations, recapitalizations and the like), and subject to further
adjustment as provided herein. In the case that additional shares of Class A common stock, or equity-linked securities, are issued
or deemed issued in excess of the amounts offered in this prospectus and related to the closing of the initial business combination,
the ratio at which shares of Class B common stock shall convert into shares of Class A common stock will be adjusted (unless the
holders of a majority of the outstanding shares of Class B common stock agree to waive such adjustment with respect to any such
issuance or deemed issuance) so that the number of shares of Class A common stock issuable upon conversion of all shares of Class
B common stock will equal, in the aggregate, on an as-converted basis, 20% of the sum of the total number of all shares of common
stock outstanding upon completion of this offering plus all shares of Class A common stock and equity-linked securities issued
or deemed issued in connection with the initial business combination (excluding any shares or equity-linked securities issued,
or to be issued, to any seller in the initial business combination, and any private placement-equivalent warrants issued to our
sponsor or its affiliates upon conversion of loans made to us). We cannot determine at this time whether a majority of the holders
of our Class B common stock at the time of any future issuance would agree to waive such adjustment to the conversion ratio. They
may waive such adjustment due to (but not limited to) the following: (i) closing conditions which are part of the agreement
for our initial business combination; (ii) negotiation with Class A stockholders on structuring an initial business combination;
or (iii) negotiation with parties providing financing which would trigger the anti-dilution provisions of the Class B common stock.
If such adjustment is not waived, the issuance would not reduce the percentage ownership of holders of our Class B common stock,
but would reduce the percentage ownership of holders of our Class A common stock. If such adjustment is waived, the issuance would
reduce the percentage ownership of holders of both classes of our common stock. Holders of founder shares may also elect to convert
their shares of Class B common stock into an equal number of shares of Class A common stock, subject to adjustment as provided
above, at any time. The term "equity-linked securities" refers to any debt or equity securities that are convertible,
exercisable or exchangeable for shares of Class A common stock issues in a financing transaction in connection with our initial
business combination, including but not limited to a private placement of equity or debt. Securities could be "deemed issued"
for purposes of the conversion rate adjustment if such shares are issuable upon the conversion or exercise of convertible securities,
warrants or similar securities.
With certain limited exceptions, the founder
shares are not transferable, assignable or salable (except to our officers and directors and other persons or entities affiliated
with our sponsor, each of whom will be subject to the same transfer restrictions) until the earlier of (A) one year after the
completion of our initial business combination or (B) subsequent to our initial business combination, (x) if the last sale price
of our Class A common stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations,
recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after our
initial business combination, or (y) the date on which we complete a liquidation, merger, capital stock exchange, reorganization
or other similar transaction that results in all of our stockholders having the right to exchange their shares of common stock
for cash, securities or other property.
113
Preferred Stock
Our amended and restated certificate of
incorporation will provide that shares of preferred stock may be issued from time to time in one or more series. Our board of
directors will be authorized to fix the voting rights, if any, designations, powers, preferences, the relative, participating,
optional or other special rights and any qualifications, limitations and restrictions thereof, applicable to the shares of each
series. Our board of directors will be able to, without stockholder approval, issue preferred stock with voting and other rights
that could adversely affect the voting power and other rights of the holders of the common stock and could have anti-takeover
effects. The ability of our board of directors to issue preferred stock without stockholder approval could have the effect of
delaying, deferring or preventing a change of control of us or the removal of existing management. We have no preferred stock
outstanding at the date hereof. Although we do not currently intend to issue any shares of preferred stock, we cannot assure you
that we will not do so in the future. No shares of preferred stock are being issued or registered in this offering.
Redeemable Warrants
Public Stockholders' Warrants
Each whole warrant entitles the registered
holder to purchase one whole share of our Class A common stock at a price of $11.50 per share, subject to adjustment as discussed
below, at any time commencing on the later of 12 months from the closing of this offering or 30 days after the completion of our
initial business combination. Pursuant to the warrant agreement, a warrantholder may exercise its warrants only for a whole number
of shares of Class A common stock. This means that only a whole warrant may be exercised at any given time by a warrantholder.
No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Accordingly, unless you
purchase at least two units, you will not be able to receive or trade a whole warrant. The warrants will expire five years after
the completion of our initial business combination, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation.
We will not be obligated to deliver any
shares of Class A common stock pursuant to the exercise of a warrant and will have no obligation to settle such warrant exercise
unless a registration statement under the Securities Act with respect to the shares of Class A common stock underlying the warrants
is then effective and a prospectus relating thereto is current, subject to our satisfying our obligations described below with
respect to registration. No warrant will be exercisable and we will not be obligated to issue shares of Class A common stock upon
exercise of a warrant unless Class A common stock issuable upon such warrant exercise has been registered, qualified or deemed
to be exempt under the securities laws of the state of residence of the registered holder of the warrants. In the event that the
conditions in the two immediately preceding sentences are not satisfied with respect to a warrant, the holder of such warrant
will not be entitled to exercise such warrant and such warrant may have no value and expire worthless. In no event will we be
required to net cash settle any warrant. In the event that a registration statement is not effective for the exercised warrants,
the purchaser of a unit containing such warrant will have paid the full purchase price for the unit solely for the share of Class
A common stock underlying such unit.
We are not registering the shares of Class
A common stock issuable upon exercise of the warrants at this time. However, we have agreed that as soon as practicable, but in
no event later than 15 business days after the closing of our initial business combination, we will use our best efforts to file
with the SEC a registration statement covering the shares of Class A common stock issuable upon exercise of the warrants, to cause
such registration statement to become effective and to maintain a current prospectus relating to those shares of Class A common
stock until the warrants expire or are redeemed, as specified in the warrant agreement. If a registration statement covering the
shares of Class A common stock issuable upon exercise of the warrants is not effective by the 60
th
business day
after the closing of our initial business combination, warrantholders may, until such time as there is an effective registration
statement and during any period when we will have failed to maintain an effective registration statement, exercise warrants on
a "cashless basis" in accordance with Section 3(a)(9) of the Securities Act or another exemption. Notwithstanding
the foregoing, if a registration statement covering the Class A common stock issuable upon exercise of the warrants is not effective
within a specified period following the consummation of our initial business combination, warrant holders may, until such time
as there is an effective registration statement and during any period when we shall have failed to maintain an effective registration
statement, exercise warrants on a cashless basis pursuant to the exemption provided by Section 3(a)(9) of the Securities Act of
1933, as amended, or the Securities Act, provided that such exemption is available. If that exemption, or another exemption, is
not available, holders will not be able to exercise their warrants on a cashless basis.
114
Once the warrants become exercisable, we
may call the warrants for redemption:
•
in whole
                                         and not in part;
•
at a
                                         price of $0.01 per warrant;
•
upon
                                         not less than 30 days' prior written notice of redemption (the "30-day redemption
                                         period") to each warrantholder; and
•
if, and
                                         only if, the reported last sale price of the Class A common stock equals or exceeds $18.00
                                         per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations
                                         and the like) for any 20 trading days within a 30-trading day period ending three business
                                         days before we send the notice of redemption to the warrantholders.
If and when the warrants become redeemable
by us, we may not exercise our redemption right if the issuance of shares of common stock upon exercise of the warrants is not
exempt from registration or qualification under applicable state blue sky laws or we are unable to effect such registration or
qualification. We will use our best efforts to register or qualify such shares of common stock under the blue sky laws of the
state of residence in those states in which the warrants were offered by us in this offering.
We have established the last of the redemption
criteria discussed above to prevent a redemption call unless there is at the time of the call a significant premium to the warrant
exercise price. If the foregoing conditions are satisfied and we issue a notice of redemption of the warrants, each warrantholder
will be entitled to exercise its warrant prior to the scheduled redemption date. However, the price of the Class A common stock
may fall below the $18.00 redemption trigger price (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations
and the like) as well as the $11.50 warrant exercise price after the redemption notice is issued.
If we call the warrants for redemption as
described above, our management will have the option to require any holder that wishes to exercise its warrant to do so on a "cashless
basis." In determining whether to require all holders to exercise their warrants on a "cashless basis," our
management will consider, among other factors, our cash position, the number of warrants that are outstanding and the dilutive
effect on our stockholders of issuing the maximum number of shares of Class A common stock issuable upon the exercise of our warrants.
If our management takes advantage of this option, all holders of warrants would pay the exercise price by surrendering their warrants
for that number of shares of Class A common stock equal to the quotient obtained by dividing (x) the product of the number of
shares of Class A common stock underlying the warrants, multiplied by the difference between the exercise price of the warrants
and the "fair market value" (defined below) by (y) the fair market value. The "fair market value" shall
mean the average reported last sale price of the Class A common stock for the 10 trading days ending on the third trading day
prior to the date on which the notice of redemption is sent to the holders of warrants. If our management takes advantage of this
option, the notice of redemption will contain the information necessary to calculate the number of shares of Class A common stock
to be received upon exercise of the warrants, including the "fair market value" in such case. Requiring a cashless
exercise in this manner will reduce the number of shares to be issued and thereby lessen the dilutive effect of a warrant redemption.
We believe this feature is an attractive option to us if we do not need the cash from the exercise of the warrants after our initial
business combination. If we call our warrants for redemption and our management does not take advantage of this option, our sponsor
and its permitted transferees would still be entitled to exercise their private placement warrants for cash or on a cashless basis
using the same formula described above that other warrantholders would have been required to use had all warrantholders been required
to exercise their warrants on a cashless basis, as described in more detail below.
A holder of a warrant may notify us in writing
in the event it elects to be subject to a requirement that such holder will not have the right to exercise such warrant, to the
extent that after giving effect to such exercise, such person (together with such person's affiliates), to the warrant agent's
actual knowledge, would beneficially own in excess of 4.9% or 9.8% (or such other amount as a holder may specify) of the shares
of Class A common stock outstanding immediately after giving effect to such exercise.
115
If the number of outstanding shares of Class
A common stock is increased by a stock dividend payable in shares of Class A common stock, or by a split-up of shares of Class
A common stock or other similar event, then, on the effective date of such stock dividend, split-up or similar event, the number
of shares of Class A common stock issuable on exercise of each warrant will be increased in proportion to such increase in the
outstanding shares of Class A common stock. A rights offering to holders of Class A common stock entitling holders to purchase
shares of Class A common stock at a price less than the fair market value will be deemed a stock dividend of a number of shares
of Class A common stock equal to the product of (i) the number of shares of Class A common stock actually sold in such rights
offering (or issuable under any other equity securities sold in such rights offering that are convertible into or exercisable
for Class A common stock) and (ii) one (1) minus the quotient of (x) the price per share of Class A common stock paid in such
rights offering divided by (y) the fair market value. For these purposes (i) if the rights offering is for securities convertible
into or exercisable for Class A common stock, in determining the price payable for Class A common stock, there will be taken into
account any consideration received for such rights, as well as any additional amount payable upon exercise or conversion and (ii)
fair market value means the volume weighted average price of Class A common stock as reported during the ten (10) trading day
period ending on the trading day prior to the first date on which the shares of Class A common stock trade on the applicable exchange
or in the applicable market, regular way, without the right to receive such rights.
In addition, if we, at any time while the
warrants are outstanding and unexpired, pay a dividend or make a distribution in cash, securities or other assets to the holders
of Class A common stock on account of such shares of Class A common stock (or other shares of our capital stock into which the
warrants are convertible), other than (a) as described above, (b) certain ordinary cash dividends, (c) to satisfy the redemption
rights of the holders of Class A common stock in connection with a proposed initial business combination, (d) to satisfy the redemption
rights of the holders of Class A common stock in connection with a stockholder vote to amend our amended and restated certificate
of incorporation (i) to modify the substance or timing of our obligation to redeem 100% of our Class A common stock if we do not
complete our initial business combination within 24 months from the closing of this offering or (ii) with respect to any other
provision relating to stockholders' rights or pre-initial business combination activity, or (e) in connection with the redemption
of our public shares upon our failure to complete our initial business combination, then the warrant exercise price will be decreased,
effective immediately after the effective date of such event, by the amount of cash and/or the fair market value of any securities
or other assets paid on each share of Class A common stock in respect of such event.
If the number of outstanding shares of our
Class A common stock is decreased by a consolidation, combination, reverse stock split or reclassification of shares of Class
A common stock or other similar event, then, on the effective date of such consolidation, combination, reverse stock split, reclassification
or similar event, the number of shares of Class A common stock issuable on exercise of each warrant will be decreased in proportion
to such decrease in outstanding shares of Class A common stock.
Whenever the number of shares of Class A
common stock purchasable upon the exercise of the warrants is adjusted, as described above, the warrant exercise price will be
adjusted by multiplying the warrant exercise price immediately prior to such adjustment by a fraction (x) the numerator of which
will be the number of shares of Class A common stock purchasable upon the exercise of the warrants immediately prior to such adjustment,
and (y) the denominator of which will be the number of shares of Class A common stock so purchasable immediately thereafter.
In case of any reclassification or reorganization
of the outstanding shares of Class A common stock (other than those described above or that solely affects the par value of such
shares of Class A common stock), or in the case of any merger or consolidation of us with or into another corporation (other than
a consolidation or merger in which we are the continuing corporation and that does not result in any reclassification or reorganization
of our outstanding shares of Class A common stock), or in the case of any sale or conveyance to another corporation or entity
of the assets or other property of us as an entirety or substantially as an entirety in connection with which we are dissolved,
the holders of the warrants will thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions
specified in the warrants and in lieu of the shares of our Class A common stock immediately theretofore purchasable and receivable
upon the exercise of the rights represented thereby, the kind and amount of shares of stock or other securities or property (including
cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such
sale or transfer, that the holder of the warrants would have received if such holder had exercised their warrants immediately
prior to such event. If less than 70% of the consideration receivable by the holders of Class A common stock in such a transaction
is payable in the form of Class A common stock in the successor entity that is listed for trading on a national securities exchange
or is quoted in an established over-the-counter market, or is to be so listed for trading or quoted immediately following such
event, and if the registered holder of the warrant properly exercises the warrant within thirty days following public disclosure
of such transaction, the warrant exercise price will be reduced as specified in the warrant agreement based on the Black-Scholes
value (as defined in the warrant agreement) of the warrant. The purpose of such exercise price reduction is to provide additional
value to holders of the warrants when an extraordinary transaction occurs during the exercise period of the warrants pursuant
to which the holders of the warrants otherwise do not receive the full potential value of the warrants in order to determine and
realize the option value component of the warrant. This formula is to compensate the warrant holder for the loss of the option
value portion of the warrant due to the requirement that the warrant holder exercise the warrant within 30 days of the event.
The Black-Scholes model is an accepted pricing model for estimating fair market value where no quoted market price for an instrument
is available.
116
The warrants will be issued in registered
form under a warrant agreement between Continental Stock Transfer & Trust Company, as warrant agent, and us. You should review
a copy of the warrant agreement, which will be filed as an exhibit to the registration statement of which this prospectus is a
part, for a complete description of the terms and conditions applicable to the warrants. The warrant agreement provides that the
terms of the warrants may be amended without the consent of any holder to cure any ambiguity or correct any mistake, including
to conform the provisions of the warrant agreement to the description of the terms of the warrants and the warrant agreement set
forth in this prospectus, or to correct any defective provision, but requires the approval by the holders of at least a majority
of the then outstanding public warrants to make any change that adversely affects the interests of the registered holders of public
warrants.
The warrants may be exercised upon surrender
of the warrant certificate on or prior to the expiration date at the offices of the warrant agent, with the exercise form on the
reverse side of the warrant certificate completed and executed as indicated, accompanied by full payment of the exercise price
(or on a cashless basis, if applicable), by certified or official bank check payable to us, for the number of warrants being exercised.
The warrantholders do not have the rights or privileges of holders of Class A common stock and any voting rights until they exercise
their warrants and receive shares of Class A common stock. After the issuance of shares of Class A common stock upon exercise
of the warrants, each holder will be entitled to one (1) vote for each share held of record on all matters to be voted on by stockholders.
In addition, if (x) we issue additional
shares of Class A common stock or equity-linked securities for capital raising purposes in connection with the closing of our
initial business combination at a Newly Issued Price of less than $9.20 per share of Class A common stock (with such issue price
or effective issue price to be determined in good faith by our board of directors and, in the case of any such issuance to our
sponsor or its affiliates, without taking into account any founder shares held by our sponsor or such affiliates, as applicable,
prior to such issuance), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds,
and interest thereon, available for the funding of our initial business combination on the date of the consummation of our initial
business combination (net of redemptions), and (z) the Market Value is below $9.20 per share, then the exercise price of the warrants
will be adjusted (to the nearest cent) to be equal to 115% of the greater of the Market Value and the Newly Issued Price, and
the $18.00 per share redemption trigger price described above will be adjusted (to the nearest cent) to be equal to 180% of the
greater of the Market Value and the Newly Issued Price.
No fractional shares will be issued upon
exercise of the warrants. If, upon exercise of the warrants, a holder would be entitled to receive a fractional interest in a
share, we will, upon exercise, round down to the nearest whole number of shares of Class A common stock to be issued to the warrantholder.
We have agreed that, subject to applicable
law, any action, proceeding or claim against us arising out of or relating in any way to the warrant agreement will be brought
and enforced in the courts of the State of New York or the United States District Court for the Southern District of New York,
and we irrevocably submit to such jurisdiction, which jurisdiction will be the exclusive forum for any such action, proceeding
or claim. See "Risk Factors — Our warrant agreement will designate the courts of the State of New York or the United
States District Court for the Southern District of New York as the sole and exclusive forum for certain types of actions and proceedings
that may be initiated by holders of our warrants, which could limit the ability of warrant holders to obtain a favorable judicial
forum for disputes with our company." This provision applies to claims under the Securities Act but does not apply to claims
under the Exchange Act or any claim for which the federal district courts of the United States of America are the sole and exclusive
forum.
Private Placement Warrants
The private placement warrants (including
the Class A common stock issuable upon exercise of the private placement warrants) will not be transferable, assignable or salable
until 30 days after the completion of our initial business combination (except, among other limited exceptions as described under
the section of this prospectus entitled "Principal Stockholders — Restrictions on Transfers of Founder Shares and
Private Placement Warrants," to our officers and directors and other persons or entities affiliated with our sponsor) and
they will not be redeemable by us so long as they are held by our sponsor or its permitted transferees. Our sponsor, or its permitted
transferees, has the option to exercise the private placement warrants on a cashless basis. Except as described below, the private
placement warrants have terms and provisions that are identical to those of the warrants being sold as part of the units in this
offering, including as to exercise price, exercisability and exercise period. If the private placement warrants are held by holders
other than the sponsor or its permitted transferees, the private placement warrants will be redeemable by us and exercisable by
the holders on the same basis as the warrants included in the units being sold in this offering.
117
If holders of the private placement warrants
elect to exercise them on a cashless basis, they would pay the exercise price by surrendering their warrants for that number of
shares of Class A common stock equal to the quotient obtained by dividing (x) the product of the number of shares of Class A common
stock underlying the warrants, multiplied by the difference between the exercise price of the warrants and the "fair market
value" (defined below) by (y) the fair market value. The "fair market value" shall mean the average reported
last sale price of the Class A common stock for the 10 trading days ending on the third trading day prior to the date on which
the notice of warrant exercise is sent to the warrant agent. The reason that we have agreed that these warrants will be exercisable
on a cashless basis so long as they are held by the sponsor or its permitted transferees is because it is not known at this time
whether they will be affiliated with us following an initial business combination. If they remain affiliated with us, their ability
to sell our securities in the open market will be significantly limited. We expect to have policies in place that prohibit insiders
from selling our securities except during specific periods of time. Even during such periods of time when insiders will be permitted
to sell our securities, an insider cannot trade in our securities if he or she is in possession of material non-public information.
Accordingly, unlike public stockholders who could sell the shares of Class A common stock issuable upon exercise of the warrants
freely in the open market, the insiders could be significantly restricted from doing so. As a result, we believe that allowing
the holders to exercise such warrants on a cashless basis is appropriate.
In order to finance transaction costs in
connection with an intended initial business combination, our sponsor or an affiliate of our sponsor or certain of our officers
and directors may, but are not obligated to, loan us funds as may be required. Up to $1,500,000 of such loans may be convertible
into warrants at a price of $1.00 per warrant at the option of the lender. Such warrants would be identical to the private placement
warrants, including as to exercise price, exercisability and exercise period. The terms of such working capital loans by our sponsor
or its affiliates, or our officers and directors, if any, have not been determined and no written agreements exist with respect
to such loans.
Our sponsor has agreed not to transfer,
assign or sell any of the private placement warrants (including the Class A common stock issuable upon exercise of any of these
warrants) until the date that is 30 days after the date we complete our initial business combination, except that, among other
limited exceptions as described under the section of this prospectus entitled "Principal Stockholders — Restrictions
on Transfers of Founder Shares and Private Placement Warrants" made to our officers and directors and other persons or entities
affiliated with our sponsor.
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 an initial business combination. The payment
of cash dividends in the future will be dependent upon our revenues and earnings, if any, capital requirements and general financial
conditions subsequent to completion of an initial business combination. The payment of any cash dividends subsequent to an initial
business combination will be within the discretion of our board of directors at such time. If we increase or decrease the size
of the offering we will effect a stock dividend or a share contribution back to capital or other appropriate mechanism, as applicable,
with respect to our Class B common stock immediately prior to the consummation of the offering in such amount as to maintain the
ownership of our initial stockholders at 20.0% of the issued and outstanding shares of our common stock upon the consummation
of 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 Warrant Agent
The transfer agent for our common stock
and warrant agent for our warrants is Continental Stock Transfer & Trust Company. We have agreed to indemnify Continental
Stock Transfer & Trust Company in its roles as transfer agent and warrant agent, its agents and each of its stockholders,
directors, officers and employees against all claims and losses that may arise out of acts performed or omitted for its activities
in that capacity, except for any liability due to any gross negligence, willful misconduct or bad faith of the indemnified person
or entity.
118
Our Amended and Restated Certificate of Incorporation
Our amended and restated certificate of
incorporation will contain certain requirements and restrictions relating to this offering that will apply to us until the completion
of our initial business combination. These provisions cannot be amended without the approval of the holders of 65% of our common
stock. Our initial stockholders, who will collectively beneficially own 20% of our common stock upon the closing of this offering
(assuming they do not purchase any units in this offering), will participate in any vote to amend our amended and restated certificate
of incorporation and will have the discretion to vote in any manner they choose. Specifically, our amended and restated certificate
of incorporation provides, among other things, that:
•
If we do
                                         not complete our initial business combination within 24 months from the closing of this
                                         offering, we will (i) cease all operations except for the purpose of winding up, (ii)
                                         as promptly as reasonably possible but not more than ten business days thereafter subject
                                         to lawfully available funds therefor, redeem 100% of the public shares, at a per-share
                                         price, payable in cash, equal to the aggregate amount then on deposit in the trust account
                                         including interest earned on the funds held in the trust account and not previously released
                                         to us to pay our taxes (less up to $100,000 of interest to pay dissolution expenses),
                                         divided by the number of then outstanding public shares, which redemption will completely
                                         extinguish public stockholders' rights as stockholders (including the right to
                                         receive further liquidating distributions, if any), subject to applicable law, and (iii)
                                         as promptly as reasonably possible following such redemption, subject to the approval
                                         of our remaining stockholders and our board of directors, dissolve and liquidate, subject
                                         in each case to our obligations under Delaware law to provide for claims of creditors
                                         and the requirements of other applicable law;
•
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;
•
Although
                                         we do not intend to enter into an initial business combination with a target business
                                         that is affiliated with our sponsor, our directors or our officers, we are not prohibited
                                         from doing so. In the event we enter into such a transaction, we, or a committee of independent
                                         directors, will obtain an opinion from an independent investment banking firm or from
                                         another independent entity that commonly renders valuation opinions that such an initial
                                         business combination is fair to our company from a financial point of view;
•
If a stockholder
                                         vote on our initial business combination is not required by law and we do not decide
                                         to hold a stockholder vote for business or other legal reasons, we will offer to redeem
                                         our public shares pursuant to Rule 13e-4 and Regulation 14E of the Exchange Act, and
                                         will file tender offer documents with the SEC prior to completing our initial business
                                         combination which contain substantially the same financial and other information about
                                         our initial business combination and the redemption rights as is required under Regulation
                                         14A of the Exchange Act; whether or not we maintain our registration under the our Exchange
                                         Act or our listing on Nasdaq, we will provide our public stockholders with the opportunity
                                         to redeem their public shares by one of the two methods listed above;
•
So long
                                         as we obtain and maintain a listing for our securities on Nasdaq, Nasdaq rules require
                                         that (i) we must complete one or more business combinations having an aggregate fair
                                         market value of at least 80% of the value of the assets held in the trust account (excluding
                                         the deferred underwriting commissions and taxes payable on the interest earned on the
                                         trust account) at the time of our signing a definitive agreement in connection with our
                                         initial business combination and (ii) any initial business combination must be approved
                                         by a majority of our independent directors;
•
If our stockholders
                                         approve an amendment to our amended and restated certificate of incorporation (i) to
                                         modify the substance or timing of our obligation to redeem 100% of our public shares
                                         if we do not complete our initial business combination within 24 months from the closing
                                         of this offering or (ii) with respect to any other provision relating to stockholders'
                                         rights or pre-business combination activity, we will provide our public stockholders
                                         with the opportunity to redeem all or a portion of their shares of Class A common stock
                                         upon such approval at a per-share price, payable in cash, equal to the aggregate amount
                                         then on deposit in the trust account, including interest earned on the funds held in
                                         the trust account and not previously released to us to pay our taxes, divided by the
                                         number of then outstanding public shares; and
•
We will
                                         not effectuate our initial business combination with another blank check company or a
                                         similar company with nominal operations.
119
In addition, our amended and restated certificate
of incorporation will provide that under no circumstances will we redeem our public shares unless our net tangible assets are
at least $5,000,001 either immediately prior to or upon consummation of our initial business combination and after payment of
underwriters' fees and commissions.
Certain Anti-Takeover Provisions of Delaware Law and our
Amended and Restated Certificate of Incorporation and Bylaws
We will be subject to the provisions of
Section 203 of the DGCL regulating corporate takeovers upon completion of this offering. This statute prevents certain Delaware
corporations, under certain circumstances, from engaging in a "business combination" with:
•        a
stockholder who owns 15% or more of our outstanding voting stock (otherwise known as an "interested stockholder");
•        an
affiliate of an interested stockholder; or
•        an
associate of an interested stockholder, for three years following the date that the stockholder became an interested stockholder.
A "business combination" includes
a merger or sale of more than 10% of our assets. However, the above provisions of Section 203 do not apply if:
•        our
board of directors approves the transaction that made the stockholder an "interested stockholder," prior to the date
of the transaction;
•        after
the completion of the transaction that resulted in the stockholder becoming an interested stockholder, that stockholder owned
at least 85% of our voting stock outstanding at the time the transaction commenced, other than statutorily excluded shares of
common stock; or
•        on
or subsequent to the date of the transaction, the initial business combination is approved by our board of directors and authorized
at a meeting of our stockholders, and not by written consent, by an affirmative vote of at least two-thirds of the outstanding
voting stock not owned by the interested stockholder.
Our amended and restated certificate of
incorporation will provide that our board of directors will be classified into three classes of directors. As a result, in most
circumstances, a person can gain control of our board only by successfully engaging in a proxy contest at two or more annual meetings.
Our authorized but unissued common stock
and preferred stock are available for future issuances without stockholder approval and could be utilized for a variety of corporate
purposes, including future offerings to raise additional capital, acquisitions and employee benefit plans. The existence of authorized
but unissued and unreserved common stock and preferred stock could render more difficult or discourage an attempt to obtain control
of us by means of a proxy contest, tender offer, merger or otherwise.
Exclusive forum for certain lawsuits
Our amended and restated certificate of
incorporation will require, to the fullest extent permitted by law, that (i) any derivative action or proceeding brought
on our behalf, (ii) any action asserting a claim of breach of a fiduciary duty owed by any director, officer or other employee
to us or our stockholders, (iii) any action asserting a claim against us, our directors, officers or employees arising pursuant
to any provision of the DGCL or our amended and restated certificate of incorporation or bylaws, or (iv) any action asserting
a claim against us, our directors, officers or employees governed by the internal affairs doctrine may be brought only in the
Court of Chancery in the State of Delaware, except any action (A) as to which the Court of Chancery in the State of Delaware determines
that there is an indispensable party not subject to the jurisdiction of the Court of Chancery (and the indispensable party does
not consent to the personal jurisdiction of the Court of Chancery within ten days following such determination), (B) which is
vested in the exclusive jurisdiction of a court or forum other than the Court of Chancery or (C) for which the Court of Chancery
does not have subject matter jurisdiction. If an action is brought outside of Delaware, the stockholder bringing the suit will
be deemed to have consented to service of process on such stockholder's counsel. Although we believe this provision benefits
us by providing increased consistency in the application of law in the types of lawsuits to which it applies, a court may determine
that this provision is unenforceable, and to the extent it is enforceable, the provision may have the effect of discouraging lawsuits
against our directors and officers, although our stockholders will not be deemed to have waived our compliance with federal securities
laws and the rules and regulations thereunder.
120
Notwithstanding the foregoing, our amended
and restated certificate of incorporation will provide that the exclusive forum provision will be applicable to the fullest extent
permitted by applicable law, subject to certain exceptions. Section 27 of the Exchange Act creates exclusive federal jurisdiction
over all suits brought to enforce any duty or liability created by the Exchange Act or the rules and regulations thereunder. As
a result, the exclusive forum provision will not apply to suits brought to enforce any duty or liability created by the Exchange
Act or any other claim for which the federal courts have exclusive jurisdiction.
Additionally, unless we consent in writing
to the selection of an alternative forum, the federal courts shall be the exclusive forum for the resolution of any complaint
asserting a cause of action arising under the Securities Act against us or any of our directors, officers, other employees or
agents. Section 22 of the Securities Act, however, created concurrent jurisdiction for federal and state courts over all suits
brought to enforce any duty or liability created by the Securities Act or the rules and regulations thereunder. Accordingly, there
is uncertainty as to whether a court would enforce such provisions, and the enforceability of similar choice of forum provisions
in other companies' charter documents has been challenged in legal proceedings. While the Delaware courts have determined
that such exclusive forum provisions are facially valid, a stockholder may nevertheless seek to bring a claim in a venue other
than those designated in the exclusive forum provisions, and there can be no assurance that such provisions will be enforced by
a court in those other jurisdictions. Any person or entity purchasing or otherwise acquiring any interest in our securities shall
be deemed to have notice of an consented to these provisions; however, we note that investors cannot waive compliance with the
federal securities laws and the rules and regulations thereunder.
Special meeting of stockholders
Our bylaws provide that special meetings
of our stockholders may be called only by a majority vote of our board of directors, by our Chief Executive Officer or by our
Chairman.
Advance notice requirements for stockholder proposals
and director nominations
Our bylaws provide that stockholders seeking
to bring business before our annual meeting of stockholders, or to nominate candidates for election as directors at our annual
meeting of stockholders, must provide timely notice of their intent in writing. To be timely, a stockholder's notice will
need to be received by the company secretary at our principal executive offices not later than the close of business on the 90
th
day nor earlier than the opening of business on the 120
th
day prior to the anniversary date of the immediately
preceding annual meeting of stockholders. Pursuant to Rule 14a-8 of the Exchange Act, proposals seeking inclusion in our annual
proxy statement must comply with the notice periods contained therein. Our bylaws also specify certain requirements as to the
form and content of a stockholders' meeting. These provisions may preclude our stockholders from bringing matters before
our annual meeting of stockholders or from making nominations for directors at our annual meeting of stockholders.
Action by written consent
Subsequent to the consummation of the offering,
any action required or permitted to be taken by our common stockholders must be effected by a duly called annual or special meeting
of such stockholders and may not be effected by written consent of the stockholders other than with respect to our Class B common
stock.
Classified Board of Directors
Our board of directors will initially be
divided into three classes, Class I, Class II and Class III, with members of each class serving staggered three-year terms. Our
amended and restated certificate of incorporation will provide that the authorized number of directors may be changed only by
resolution of the board of directors. Subject to the terms of any preferred stock, any or all of the directors may be removed
from office at any time, but only for cause and only by the affirmative vote of holders of a majority of the voting power of all
then outstanding shares of our capital stock entitled to vote generally in the election of directors, voting together as a single
class. Any vacancy on our board of directors, including a vacancy resulting from an enlargement of our board of directors, may
be filled only by vote of a majority of our directors then in office.
Class B Common Stock Consent Right
For so long as any shares of Class B common
stock remain outstanding, we may not, without the prior vote or written consent of the holders of a majority of the shares of
Class B common stock then outstanding, voting separately as a single class, amend, alter or repeal any provision of our certificate
of incorporation, whether by merger, consolidation or otherwise, if such amendment, alteration or repeal would alter or change
the powers, preferences or relative, participating, optional or other or special rights of the Class B common stock. Any action
required or permitted to be taken at any meeting of the holders of Class B common stock may be taken without a meeting, without
prior notice and without a vote, if a consent or consents in writing, setting forth the action so taken, shall be signed by the
holders of the outstanding Class B common stock having not less than the minimum number of votes that would be necessary to authorize
or take such action at a meeting at which all shares of Class B common stock were present and voted.
121
Securities Eligible for Future Sale
Immediately after the consummation of this
offering (assuming no exercise of the underwriters' over-allotment option) we will have 12,500,000 (or 14,375,000 if the
underwriters' over-allotment option is exercised in full) shares of common stock outstanding. Of these shares, the 12,500,000
shares (or 14,375,000 if the underwriters' over-allotment option is exercised in full) sold in this offering will be freely
tradable without restriction or further registration under the Securities Act, except for any shares purchased by one of our affiliates
within the meaning of Rule 144 under the Securities Act. All of the remaining 3,125,000 (or 3,593,750 if the underwriters'
over-allotment option is exercised in full) shares and all 4,250,000 (or 4,625,000 if the over-allotment option exercised in full)
private placement warrants are restricted securities under Rule 144, in that they were issued in private transactions not involving
a public offering, and the shares of Class B common stock and private placement warrants are subject to transfer restrictions
as set forth elsewhere in this prospectus. These restricted securities will be entitled to registration rights as more fully described
below under "— Registration Rights."
Rule 144
Pursuant to Rule 144, a person who has beneficially
owned restricted shares of our common stock or warrants for at least six months would be entitled to sell their securities provided
that (i) such person is not deemed to have been one of our affiliates at the time of, or at any time during the three months preceding,
a sale and (ii) we are subject to the Exchange Act periodic reporting requirements for at least three months before the sale and
have filed all required reports under Section 13 or 15(d) of the Exchange Act during the 12 months (or such shorter period as
we were required to file reports) preceding the sale.
Persons who have beneficially owned restricted
shares of our common stock or warrants for at least six months but who are our affiliates at the time of, or at any time during
the three months preceding, a sale, would be subject to additional restrictions, by which such person would be entitled to sell
within any three-month period only a number of securities that does not exceed the greater of:
•        1%
of the total number of shares of Class A common stock then outstanding, which will equal 156,250 shares immediately after this
offering (or 179,688 if the underwriters exercise their over-allotment option in full); or
•        the
average weekly reported trading volume of the Class A common stock during the four calendar weeks preceding the filing of a notice
on Form 144 with respect to the sale.
Sales by our affiliates under Rule 144 are
also limited by manner of sale provisions and notice requirements and to the availability of current public information about
us.
Restrictions on the Use of Rule 144 by Shell Companies or
Former Shell Companies
Rule 144 is not available for the resale
of securities initially issued by shell companies (other than business combination related shell companies) or issuers that have
been at any time previously a shell company. However, Rule 144 also includes an important exception to this prohibition if the
following conditions are met:
•        the
issuer of the securities that was formerly a shell company has ceased to be a shell company;
•        the
issuer of the securities is subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act;
•        the
issuer of the securities has filed all Exchange Act reports and materials required to be filed, as applicable, during the preceding
12 months (or such shorter period that the issuer was required to file such reports and materials), other than Current Reports
on Form 8-K; 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.
122
As a result, our initial stockholders will
be able to sell their founder shares and private placement warrants, as applicable, pursuant to Rule 144 without registration
one year after we have completed our initial business combination.
Registration Rights
The holders of the founder shares, private
placement warrants and warrants that may be issued upon conversion of working capital loans (and any shares of Class A common
stock issuable upon the exercise of the private placement warrants and warrants that may be issued upon conversion of working
capital loans and upon conversion of the founder shares) will be entitled to registration rights pursuant to a registration and
shareholder rights agreement to be signed prior to or on the effective date of this offering, requiring us to register such securities
for resale (in the case of the founder shares, only after conversion to our Class A common stock). The holders of the majority
of these securities are entitled to make up to three demands, excluding short form demands, that we register such securities.
In addition, the holders have certain "piggy-back" registration rights with respect to registration statements filed
subsequent to our completion of our initial business combination and rights to require us to register for resale such securities
pursuant to Rule 415 under the Securities Act. We will bear the expenses incurred in connection with the filing of any such registration
statements.
Listing of Securities
We have applied to list
our units, Class A common stock and warrants on Nasdaq under the symbols "SGAMU," "SGAM" and "SGAMW,"
respectively. We expect that our units will be listed on Nasdaq on or promptly after the effective date of the registration statement.
Following the date the shares of our Class A common stock and warrants are eligible to trade separately, we anticipate that the
shares of our Class A common stock and warrants will be listed separately and as a unit on Nasdaq. We cannot guarantee that our
securities will be approved for listing on Nasdaq.
123
MATERIAL U.S.
FEDERAL INCOME TAX CONSIDERATIONS
The following discussion is a summary of
material U.S. federal income tax consequences generally applicable to the acquisition, ownership and disposition of our units,
shares of Class A common stock and warrants, which we refer to collectively as our securities. Because the components of a unit
are separable at the option of the holder, the holder of a unit generally should be treated, for U.S. federal income tax purposes,
as the owner of the underlying shares of Class A common stock and one-half of one redeemable warrant components of the unit, as
the case may be. As a result, the discussion below with respect to actual holders of Class A common stock and warrants should
also apply to holders of units (as the deemed owners of the underlying Class A common stock and warrants that comprise the units).
This discussion applies only to securities that are held as capital assets for U.S. federal income tax purposes and is applicable
only to holders who purchased units in this offering.
This discussion is a summary only and does
not describe all of the tax consequences that may be relevant to you in light of your particular circumstances, including but
not limited to the alternative minimum tax, the Medicare tax on certain investment income and the different consequences that
may apply if you are subject to special rules that apply to certain types of investors, including but not limited to:
•
financial
                                         institutions or financial services entities;
•
broker-dealers;
•
governments or agencies or instrumentalities
                                         thereof;
•
regulated investment companies;
•
real estate investment trusts;
•
expatriates or former long-term residents
                                         of the United States;
•
persons that actually or constructively
                                         own 5% or more of our voting shares;
•
persons that acquired our securities pursuant
                                         to an exercise of employee share options, in connection with employee share incentive
                                         plans or otherwise as compensation;
•
insurance companies;
•
dealers or traders subject to a mark-to-market
                                         method of accounting with respect to the securities;
•
persons holding the securities as part
                                         of a "straddle," hedge, constructive sale, conversion, or other integrated
                                         transaction or similar transaction;
•
U.S. holders (as defined below) whose
                                         functional currency is not the U.S. dollar;
•
entities or arrangements treated as partnerships
                                         or other pass-through entities for U.S. federal income tax purposes and any beneficial
                                         owners of such partnerships or entities; and
•
tax-exempt entities.
If you are a partner in a partnership (or
entity or other arrangements treated as a partnership for U.S. federal income tax purposes), the U.S. federal income tax consequences
to your partners will depend on the status and activities of the partners and the partnership. If you are a partnership considering
an investment in our securities, or a partner therein, you should consult your tax advisor concerning the tax consequences of
your investment of our securities.
This discussion is based on the Internal
Revenue Code of 1986, as amended (the "Code"), and administrative pronouncements, judicial decisions and final, temporary
and proposed Treasury regulations as of the date hereof, which are subject to change, possibly on a retroactive basis, and changes
to any of which subsequent to the date of this prospectus may affect the tax consequences described herein. We have not sought,
and do not intend to seek, a ruling from the IRS with respect to the statements made and conclusions reached in this summary.
There is no guarantee that the IRS or any court would agree with such statements and conclusions. This discussion does not address
any aspect of state, local or non-U.S. taxation, or any U.S. federal taxes other than income taxes (such as gift and estate taxes).
You are urged to consult your tax advisor
with respect to the application of U.S. federal tax laws to your particular situation, as well as any tax consequences arising
under the laws of any state, local or non-U.S. jurisdiction.
1
Subject to review by W&C tax
124
Personal Holding Company Status
We could be subject to a second level of
U.S. federal income tax on a portion of our income if we are determined to be a personal holding company, or PHC, for U.S. federal
income tax purposes. A U.S. corporation generally will be classified as a PHC for U.S. federal income tax purposes in a given
taxable year if (i) at any time during the last half of such taxable year, five or fewer individuals (without regard to their
citizenship or residency and including as individuals for this purpose certain entities such as certain tax-exempt organizations,
pension funds and charitable trusts) own or are deemed to own (pursuant to certain constructive ownership rules) more than 50%
of the stock of the corporation by value and (ii) at least 60% of the corporation's adjusted ordinary gross income, as determined
for U.S. federal income tax purposes, for such taxable year consists of PHC income (which includes, among other things, dividends,
interest, certain royalties, annuities and, under certain circumstances, rents).
Depending on the date and size of our initial
business combination, it is possible that at least 60% of our adjusted ordinary gross income may consist of PHC income. In addition,
depending on the concentration of our stock in the hands of individuals, including the members of our sponsor and certain tax-exempt
organizations, pension funds and charitable trusts, it is possible that more than 50% of our stock may be owned or deemed owned
(pursuant to the constructive ownership rules) by such persons during the last half of a taxable year. Thus, no assurance can
be given that we will not be a PHC following this offering or in the future. If we are or were to become a PHC in a given taxable
year, we would be subject to an additional PHC tax, currently 20%, on our undistributed PHC income, which generally includes our
taxable income, subject to certain adjustments.
Allocation of Purchase Price and Characterization of a Unit
No statutory, administrative or judicial
authority directly addresses the treatment of a unit or any instrument similar to a unit for U.S. federal income tax purposes
and, therefore, that treatment is not entirely clear. The acquisition of a unit should be treated for U.S. federal income tax
purposes as the acquisition of one share of our Class A common stock and one-half of one warrant to acquire one share of our Class
A common stock. 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 Class A common stock and the one-half of one warrant based on the relative fair market
value of each at the time of issuance. The price allocated to each share of Class A common stock and the one-half of one warrant
should be the stockholder's tax basis in such share or one-half of one warrant, as the case may be. Any disposition of a
unit should be treated for U.S. federal income tax purposes as a disposition of the share of Class A common stock and one-half
of one warrant comprising the unit, and the amount realized on the disposition should be allocated between the Class A common
stock and the one-half of one warrant based on their respective relative fair market values at the time of disposition. The separation
of shares of Class A common stock and warrants comprising units and the combination of two halves of warrants into a single warrant
should not be a taxable event for U.S. federal income tax purposes.
The foregoing treatment of the units, shares
of Class A common stock and warrants and a holder's purchase price allocation are not binding on the Internal Revenue Service
("IRS") or the courts. Because there are no authorities that directly address instruments that are similar to the
units, no assurance can be given that the IRS or the courts will agree with the characterization described above or the discussion
below. Accordingly, each prospective investor is urged to consult its own tax advisors regarding the tax consequences of an investment
in a unit (including alternative characterizations of a unit). The balance of this discussion assumes that the characterization
of the units described above is respected for U.S. federal income tax purposes.
U.S. Holders
This section applies to you if you are a
 "U.S. holder." A U.S. holder is a beneficial owner of our units, shares of Class A common stock or warrants who or
that is, for U.S. federal income tax purposes:
•
an individual
                                         who is a citizen or resident of the United States;
•
a corporation
                                         (or other entity taxable as a corporation for U.S. federal income tax purposes) organized
                                         in or under the laws of the United States, any state thereof or the District of Columbia;
•
an estate
                                         the income of which is includible in gross income for U.S. federal income tax purposes
                                         regardless of its source; or
125
•
a trust,
                                         if (i) a court within the United States is able to exercise primary supervision over
                                         the administration of the trust and one or more United States persons (as defined in
                                         the Code) have authority to control all substantial decisions of the trust or (ii) it
                                         has a valid election in effect under Treasury Regulations to be treated as a United States
                                         person.
Taxation of Distributions.
If
we pay distributions in cash or other property (other than certain distributions of our shares or rights to acquire our shares)
to U.S. holders of shares of our Class A common stock, such distributions generally will constitute dividends for U.S. federal
income tax purposes to the extent paid from our current or accumulated earnings and profits, as determined under U.S. federal
income tax principles. Distributions in excess of current and accumulated earnings and profits will constitute a return of capital
that will be applied against and reduce (but not below zero) the U.S. holder's adjusted tax basis in our Class A common
stock. Any remaining excess will be treated as gain realized on the sale or other disposition of the Class A common stock and
will be treated as described under "U.S. Holders — Gain or Loss on Sale, Taxable Exchange or Other Taxable Disposition
of Class A Common Stock and Warrants" below.
Dividends we pay to a U.S. holder that is
a taxable corporation generally will qualify for the dividends received deduction if the requisite holding period is satisfied.
With certain exceptions (including, but not limited to, dividends treated as investment income for purposes of investment interest
deduction limitations), and provided certain holding period requirements are met, dividends we pay to a non-corporate U.S. holder
generally will constitute "qualified dividends" that will be subject to tax at preferential long-term capital gains
rates. It is unclear whether the redemption rights with respect to the Class A common stock described in this prospectus may prevent
a U.S. holder from satisfying the applicable holding period requirements with respect to the dividends received deduction or the
preferential tax rate on qualified dividend income, as the case may be. If the holding period requirements are not satisfied,
then a corporation may not be able to qualify for the dividends received deduction and would have taxable income equal to the
entire dividend amount, and non-corporate holders may be subject to tax on such dividend at regular ordinary income tax rates
instead of the preferential rate that applies to qualified dividend income.
Gain or Loss on Sale, Taxable Exchange
or Other Taxable Disposition of Class A Common Stock and Warrants.
Upon a sale or other taxable disposition
of our Class A common stock or warrants (which, in general, would include a redemption of Class A common stock or warrants that
is treated as a sale of such securities as described below, including as a result of a dissolution and liquidation in the event
we do not consummate an initial business combination within the required time period), a U.S. holder generally will recognize
capital gain or loss in an amount calculated as discussed in the following paragraph. Any such capital gain or loss generally
will be long-term capital gain or loss if the U.S. holder's holding period for the Class A common stock or warrants so disposed
of exceeds one year. It is unclear, however, whether the redemption rights with respect to the Class A common stock described
in this prospectus may suspend the running of the applicable holding period for this purpose. If the running of the holding period
for the Class A common stock is suspended, then non-corporate U.S. holders may not be able to satisfy the one-year holding
period requirement for long-term capital gain treatment, in which case any gain on a sale or taxable disposition of the shares
would be subject to short-term capital gain treatment and would be taxed at regular ordinary income tax rates. Long-term capital
gains recognized by non-corporate U.S. holders will be eligible to be taxed at reduced rates. The deductibility of capital losses
is subject to limitations.
Generally, the amount of gain or loss recognized
by a U.S. holder is an amount equal to the difference between (i) the sum of the amount of cash and the fair market value of any
property received in such disposition (or, if the Class A common stock or warrants are held as part of units at the time of the
disposition, the portion of the amount realized on such disposition that is allocated to the Class A common stock or the warrants
based upon the then fair market values of the Class A common stock and the warrants included in the units) and (ii) the U.S. holder's
adjusted tax basis in its Class A common stock or warrants so disposed of. A U.S. holder's adjusted tax basis in its Class
A common stock or warrants generally will equal the U.S. holder's acquisition cost (that is, as discussed above, the portion
of the purchase price of a unit allocated to a share of Class A common stock or one-half of one warrant or, as discussed below,
the U.S. holder's initial basis for Class A common stock received upon exercise of warrants) less, in the case of a share
of Class A common stock, any prior distributions treated as a return of capital as discussed above under the heading "—
Taxation of Distributions."
Redemption of Class A Common Stock.
In
the event that a U.S. holder's Class A common stock is redeemed pursuant to the redemption provisions described in this
prospectus under the section of this prospectus entitled "Description of Securities — Common Stock" or if we
purchase a U.S. holder's Class A common stock in an open market transaction (each of which we refer hereto as a "redemption"),
the treatment of the transaction for U.S. federal income tax purposes will depend on whether the redemption qualifies as a sale
of the Class A common stock under Section 302 of the Code. If the redemption qualifies as a sale of the Class A common stock,
the U.S. holder will be treated as described under "U.S. Holders — Gain or Loss on Sale, Taxable Exchange or Other
Taxable Disposition of Class A Common Stock and Warrants" above. If the redemption does not qualify as a sale of the Class
A common stock, the U.S. holder will be treated as receiving a corporate distribution with the tax consequences described above
under "U.S. Holders — Taxation of Distributions". Whether a redemption qualifies for sale treatment will depend
largely on the total number of shares of our stock treated as held by the U.S. holder (including any stock constructively owned
by the U.S. holder as a result of owning warrants) relative to all of our shares outstanding both before and after the redemption.
The redemption of Class A common stock generally will be treated as a sale of the Class A common stock (rather than as a corporate
distribution) if the redemption (i) is "substantially disproportionate" with respect to the U.S. holder, (ii) results
in a "complete termination" of the U.S. holder's interest in us or (iii) is "not essentially equivalent
to a dividend" with respect to the U.S. holder. These tests are explained more fully below.
126
In determining whether any of the foregoing
tests are satisfied, a U.S. holder takes into account not only stock actually owned by the U.S. holder, but also shares of our
stock that are constructively owned by it. A U.S. holder may constructively own, in addition to stock owned directly, stock owned
by certain related individuals and entities in which the U.S. holder has an interest or that have an interest in such U.S. holder,
as well as any stock the U.S. holder has a right to acquire by exercise of an option, which would generally include Class
A common stock which could be acquired pursuant to the exercise of the warrants. In order to meet the substantially disproportionate
test, the percentage of our outstanding voting stock actually and constructively owned by the U.S. holder immediately following
the redemption of Class A common stock must, among other requirements, be less than 80% of the percentage of our outstanding voting
stock actually and constructively owned by the U.S. holder immediately before the redemption. There will be a complete termination
of a U.S. holder's interest if either (i) all of the shares of our stock actually and constructively owned by the U.S. holder
are redeemed or (ii) all of the shares of our stock actually owned by the U.S. holder are redeemed and the U.S. holder is eligible
to waive, and effectively waives in accordance with specific rules, the attribution of stock owned by certain family members and
the U.S. holder does not constructively own any other shares of our stock (including any stock constructively owned by the U.S.
holder as a result of owning warrants). The redemption of the Class A common stock will not be essentially equivalent to a dividend
if the redemption results in a "meaningful reduction" of the U.S. holder's proportionate interest in us.
Whether the redemption will result in a meaningful reduction in a U.S. holder's proportionate interest in us will depend
on the particular facts and circumstances. However, the IRS has indicated in a published ruling that even a small reduction in
the proportionate interest of a small minority stockholder in a publicly held corporation who exercises no control over corporate
affairs may constitute such a "meaningful reduction." A U.S. holder should consult with its own tax advisors as to
the tax consequences of a redemption.
If none of the foregoing tests is satisfied,
then the redemption will be treated as a corporate distribution and the tax effects will be as described under "U.S. Holders
 — Taxation of Distributions," above. After the application of those rules, any remaining tax basis of the U.S. holder
in the redeemed Class A common stock will be added to the U.S. holder's adjusted tax basis in its remaining stock, or, if
it has none, to the U.S. holder's adjusted tax basis in its warrants or possibly in other stock constructively owned by
it.
Exercise, Lapse or Redemption of a Warrant.
Except
as discussed below with respect to the cashless exercise of a warrant, a U.S. holder generally will not recognize taxable gain
or loss on the acquisition of our Class A common stock upon exercise of a warrant for cash. The U.S. holder's tax basis
in the share of our Class A common stock received upon exercise of the warrant generally will be an amount equal to the sum of
the U.S. holder's initial investment in the warrant (i.e., the portion of the U.S. holder's purchase price for
a unit that is allocated to the warrant, as described above under "— Allocation of Purchase Price and Characterization
of a Unit") and the exercise price. It is unclear whether the U.S. holder's holding period for the Class A common
stock received upon exercise of the warrants will begin on the date following the date of exercise or on the date of exercise
of the warrants; in either case, the holding period will not include the period during which the U.S. holder held the warrants.
If a warrant is allowed to lapse unexercised, a U.S. holder generally will recognize a capital loss equal to such holder's
tax basis in the warrant.
The tax consequences of a cashless exercise
of a warrant are not clear under current tax law. A cashless exercise may be tax-free, either because the exercise is not a realization
event or because the exercise is treated as a recapitalization for U.S. federal income tax purposes. In either tax-free situation,
a U.S. holder's basis in the Class A common stock received would equal the holder's basis in the warrants exercised
therefor. If the cashless exercise were treated as not being a realization event, it is unclear whether a U.S. holder's
holding period in the Class A common stock would be treated as commencing on the date following the date of exercise or on the
date of exercise of the warrant. If the cashless exercise were treated as a recapitalization, the holding period of the Class
A common stock would include the holding period of the warrants exercised therefor.
127
It is also possible that a cashless exercise
could be treated in whole or in part as a taxable exchange in which gain or loss would be recognized. In such event, a U.S. holder
could be deemed to have surrendered a number of warrants equal to the number of shares of Class A common stock having an aggregate
fair market value equal to the exercise price for the total number of warrants to be exercised. The U.S. holder would recognize
capital gain or loss in an amount equal to the difference between the fair market value of the Class A common stock received in
respect of the warrants deemed surrendered and the U.S. holder's tax basis in the warrants deemed surrendered. In this
case, a U.S. holder's tax basis in the Class A common stock received would equal the sum of the U.S. holder's
initial investment in the warrants deemed exercised (i.e., the portion of the U.S. holder's purchase price for a unit that
is allocated to the warrant, as described above under "— Allocation of Purchase Price and Characterization of a Unit")
and the exercise price of such warrants. It is unclear whether a U.S. holder's holding period for the Class A common stock
would commence on the date following the date of exercise or on the date of exercise of the warrant; in either case, the holding
period would not include the period during which the U.S. holder held the warrant.
Due to the absence of authority on the U.S.
federal income tax treatment of a cashless exercise, including when a U.S. holder's holding period would commence with respect
to the Class A common stock received, there can be no assurance regarding which, if any, of the alternative tax consequences and
holding periods described above would be adopted by the IRS or a court of law. Accordingly, U.S. holders should consult their
tax advisors regarding the tax consequences of a cashless exercise.
If we redeem warrants for cash pursuant
to the redemption provisions described in the section of this prospectus entitled "Description of Securities — Redeemable
Warrants — Public Stockholders' Warrants" or if we purchase warrants in an open market transaction, such redemption
or purchase generally will be treated as a taxable disposition to the U.S. holder, taxed as described above under "—
U.S. Holders — Gain or Loss on Sale, Taxable Exchange or Other Taxable Disposition of Class A Common Stock and Warrants."
Possible Constructive Distributions.
The
terms of each warrant provide for an adjustment to the number of shares of Class A common stock for which the warrant may be exercised
or to the exercise price of the warrant in certain events, as discussed in the section of this prospectus entitled "Description
of Securities — Redeemable Warrants — Public Stockholders' Warrants." An adjustment which has the effect
of preventing dilution generally is not taxable. U.S. holders of the warrants would, however, be treated as receiving a constructive
distribution from us if, for example, the adjustment to the number of such shares or to such exercise price increases the warrantholders'
proportionate interest in our assets or earnings and profits (e.g., through an increase in the number of shares of Class A common
stock that would be obtained upon exercise or through a decrease in the exercise price of the warrant) as a result of a distribution
of cash or other property, such as other securities, to the holders of shares of our Class A common stock, or as a result of the
issuance of a stock dividend to holders of shares of our Class A common stock, in each case which is taxable to the holders of
such shares as a distribution. Such constructive distribution would be subject to tax in the same manner as if the U.S. holders
of the warrants received a cash distribution from us equal to the fair market value of such increased interest resulting from
the adjustment.
Information Reporting and Backup Withholding.
In
general, information reporting requirements may apply to dividends paid to a U.S. holder and to the proceeds of the sale or other
disposition of our units, shares of Class A common stock and warrants, unless the U.S. holder is an exempt recipient. Backup withholding
may apply to such payments if the U.S. holder fails to provide a taxpayer identification number, a certification of exempt status
or has been notified by the IRS that it is subject to backup withholding (and such notification has not been withdrawn).
Backup withholding is not an additional
tax. Any amounts withheld under the backup withholding rules will be allowed as a refund or a credit against a U.S. holder's
U.S. federal income tax liability provided the required information is timely furnished to the IRS.
All U.S. holders should consult their tax
advisors regarding the application of information reporting and backup withholding to them.
128
Non-U.S. Holders
This section applies to you if you are a
 "Non-U.S. holder." As used herein, the term "Non-U.S. holder" means a beneficial owner of our units, Class
A common stock or warrants who or that is for U.S. federal income tax purposes:
•
a non-resident
                                         alien individual (other than certain former citizens and residents of the United States
                                         subject to U.S. tax as expatriates);
•
a foreign
                                         corporation; or
•
an estate
                                         or trust that is not a U.S. holder
but generally does not include an individual who is present
in the United States for 183 days or more in the taxable year of the disposition of our units, Class A common stock or warrants.
If you are such an individual, you should consult your tax advisor regarding the U.S. federal income tax consequences of
the acquisition, ownership or sale or other disposition of our securities.
Taxation of Distributions.
In
general, any distributions (including constructive distributions) we make to a Non-U.S. holder of shares of our Class A common
stock, to the extent paid out of our current or accumulated earnings and profits (as determined under U.S. federal income tax
principles), will constitute dividends for U.S. federal income tax purposes and, provided such dividends are not effectively
connected with the Non-U.S. holder's conduct of a trade or business within the United States, we will be required to withhold
tax from the gross amount of the dividend at a rate of 30%, unless such Non-U.S. holder is eligible for a reduced rate of withholding
tax under an applicable income tax treaty and provides proper certification of its eligibility for such reduced rate (usually
on an IRS Form W-8BEN or W-8BEN-E). In the case of any constructive dividend, it is possible that this tax would be withheld from
any amount owed to a Non-U.S. holder by the applicable withholding agent, including cash distributions on other property or sales
proceeds from warrants or other property subsequently paid or credited to such holder. Any distribution not constituting a dividend
will be treated first as reducing (but not below zero) the Non-U.S. holder's adjusted tax basis in its shares of our Class
A common stock and, to the extent such distribution exceeds the Non-U.S. holder's adjusted tax basis, as gain realized from
the sale or other disposition of the Class A common stock, which will be treated as described under "Non-U.S. Holders —
Gain on Sale, Taxable Exchange or Other Taxable Disposition of Class A Common Stock and Warrants" below. In addition, if
we determine that we are classified as a "United States real property holding corporation" (see "Non-U.S. Holders
 — Gain on Sale, Taxable Exchange or Other Taxable Disposition of Class A Common Stock and Warrants" below), we will
withhold 15% of any distribution that exceeds our current and accumulated earnings and profits.
The withholding tax does not apply to dividends
paid to a Non-U.S. holder who provides an IRS Form W-8ECI, certifying that the dividends are effectively connected with the Non-U.S.
holder's conduct of a trade or business within the United States and, under certain income tax treaties, attributable to
a permanent establishment or fixed base in the United States maintained by the Non-U.S. holder. Instead, the effectively connected
dividends will be subject to regular U.S. federal income tax as if the Non-U.S. holder were a United States resident, subject
to an applicable income tax treaty providing otherwise. A corporate Non-U.S. holder receiving effectively connected dividends
may also be subject to an additional "branch profits tax" imposed at a rate of 30% (or a lower applicable treaty rate).
129
Gain on Sale, Taxable Exchange or Other
Taxable Disposition of Class A Common Stock and Warrants.
A Non-U.S. holder generally will not
be subject to U.S. federal income or withholding tax in respect of gain recognized on a sale, taxable exchange or other taxable
disposition of our Class A common stock, which would include a dissolution and liquidation in the event we do not complete an
initial business combination within the required time period, or warrants (including an expiration or redemption of our warrants),
in each case without regard to whether those securities were held as part of a unit, unless:
•
the gain
                                         is effectively connected with the conduct of a trade or business by the Non-U.S. holder
                                         within the United States (and, under certain income tax treaties, is attributable to
                                         a permanent establishment or fixed base in the United States maintained by the Non-U.S.
                                         holder); or
•
we are
                                         or have been a "United States real property holding corporation" for U.S.
                                         federal income tax purposes at any time during the shorter of the five-year period ending
                                         on the date of disposition or the period that the Non-U.S. holder held our Class A common
                                         stock, and, in the case where shares of our Class A common stock are regularly traded
                                         on an established securities market, the Non-U.S. holder has owned, directly or constructively,
                                         more than 5% of our Class A common stock at any time within the shorter of the five-year
                                         period preceding the disposition or such Non-U.S. holder's holding period for the
                                         shares of our Class A common stock. There can be no assurance that our Class A common
                                         stock will be treated as regularly traded on an established securities market for this
                                         purpose.
Unless an applicable treaty provides otherwise,
gain described in the first bullet point above will be subject to tax at generally applicable U.S. federal income tax rates as
if the Non-U.S. holder were a United States resident. Any gains described in the first bullet point above of a Non-U.S. holder
that is a foreign corporation may also be subject to an additional "branch profits tax" at a 30% rate (or lower treaty
rate).
If the second bullet point above applies
to a Non-U.S. holder, gain recognized by such holder on the sale, exchange or other disposition of our Class A common stock or
warrants will be subject to tax at generally applicable U.S. federal income tax rates. In addition, a buyer of our Class A common
stock or warrants from such holder may be required to withhold U.S. federal income tax at a rate of 15% of the amount realized
upon such disposition. We cannot determine whether we will be a United States real property holding corporation in the future
until we complete an initial business combination. We will be classified as a United States real property holding corporation
if the fair market value of our "United States real property interests" equals or exceeds 50% of the sum of the fair
market value of our worldwide real property interests plus our other assets used or held for use in a trade or business, as determined
for U.S. federal income tax purposes.
Redemption of Class A Common Stock.
The
characterization for U.S. federal income tax purposes of the redemption of a Non-U.S. holder's Class A common stock generally
will correspond to the U.S. federal income tax characterization of such a redemption of a U.S. holder's Class A common stock,
as described under "U.S. Holders — Redemption of Class A Common Stock" above, and the consequences of the redemption
to the Non-U.S. holder will be as described above under "Non-U.S. Holders — Taxation of Distributions" and "Non-U.S.
Holders — Gain on Sale, Taxable Exchange or Other Taxable Disposition of Class A Common Stock and Warrants," as applicable.
Because it may not be certain at the time a Non-U.S. holder is redeemed whether such Non-U.S. holder's redemption will be
treated as a sale of shares or a distribution constituting a dividend, and because such determination will depend in part on a
Non-U.S. holder's particular circumstances, we or the applicable withholding agent may not be able to determine whether
(or to what extent) a Non-U.S. holder is treated as receiving a dividend for U.S. federal income tax purposes. Therefore, we or
the applicable withholding agent may withhold tax at a rate of 30% on the gross amount of any consideration paid to a Non-U.S.
holder in redemption of such Non-U.S. holder's Class A common stock unless special procedures are available to Non-U.S.
holders to certify that they are entitled to exemptions from, or reductions in, such withholding tax. However, there can be no
assurance that such special certification procedures will be available. A Non-U.S. holder generally may obtain a refund of any
such excess amounts withheld by timely filing an appropriate claim for refund with the IRS. Non-U.S. holders should consult their
own tax advisors regarding the application of the foregoing rules in light of their particular facts and circumstances.
Exercise, Lapse or Redemption of a Warrant.
The
U.S. federal income tax treatment of a Non-U.S. holder's exercise of a warrant, or the lapse of a warrant held by a Non-U.S.
holder, generally will correspond to the U.S. federal income tax treatment of the exercise or lapse of a warrant by a U.S. holder,
as described under "U.S. Holders — Exercise, Lapse or Redemption of a Warrant" above, although to the extent
a cashless exercise results in a taxable exchange, the consequences would be similar to those described below in "Non-U.S.
Holders — Gain on Sale, Taxable Exchange or Other Taxable Disposition of Class A Common Stock and Warrants."
The characterization for U.S. federal income
tax purposes of the redemption of the Non-U.S. holder's warrants generally will correspond to the U.S. federal income tax
treatment of such a redemption of a U.S. holder's warrants, as described under "U.S. Holders—Exercise, Lapse
or Redemption of a Warrant" above, and the consequences of the redemption to the Non-U.S. holder will be as described below
under the heading "Non-U.S. Holders — Gain on Sale, Taxable Exchange or Other Taxable Disposition of Class A Common
Stock and Warrants" depending on such characterization.
Possible Constructive Distributions
.    The
terms of each warrant provide for an adjustment to the number of shares of Class A common stock for which the warrant may be exercised
or to the exercise price of the warrant in certain events, as discussed in the section of this prospectus entitled "Description
of Securities — Redeemable Warrants — Public Stockholders' Warrants." An adjustment which has the effect
of preventing dilution generally is not taxable. Non-U.S. holders of the warrants would, however, be treated as receiving a constructive
distribution from us if, for example, the adjustment to the number of such shares or to such exercise price increases the warrantholders'
proportionate interest in our assets or earnings and profits (e.g., through an increase in the number of shares of Class A common
stock that would be obtained upon exercise or through a decrease in the exercise price of the warrant) as a result of a distribution
of cash or other property, such as other securities, to the holders of shares of our Class A common stock, or as a result of the
issuance of a stock dividend to holders of shares of our Class A common stock, in each case which is taxable to the holders of
such shares as a distribution. Such constructive distribution would be subject to U.S. federal income tax (including any applicable
withholding) in the same manner as if the Non-U.S. holders of the warrants received a cash distribution from us equal to the fair
market value of such increased interest resulting from the adjustment. It is possible that any withholding tax on such a constructive
distribution might be satisfied by us or the applicable withholding agent through a sale of a portion of the Non-U.S. holder's
shares of Class A common stock, warrants or other property held or controlled by us or the applicable withholding agent on behalf
of the Non-U.S. holder or might be withheld from distributions or proceeds subsequently paid or credited to the Non-U.S. holder.
130
Information Reporting and Backup Withholding.
Information
returns will be filed with the IRS in connection with payments of dividends and the proceeds from a sale or other disposition
of our units, shares of Class A common stock and warrants. A Non-U.S. holder may have to comply with certification procedures
to establish that it is not a United States person in order to avoid information reporting and backup withholding requirements.
The certification procedures required to claim a reduced rate of withholding under a treaty generally will satisfy the certification
requirements necessary to avoid the backup withholding as well.
Backup withholding is not an additional
tax. The amount of any backup withholding from a payment to a Non-U.S. holder will be allowed as a credit against such holder's
U.S. federal income tax liability and may entitle such holder to a refund, provided that the required information is timely furnished
to the IRS.
All Non-U.S. holders should consult their
tax advisors regarding the application of information reporting and backup withholding to them.
FATCA Withholding Taxes.
Sections
1471 through 1474 of the Code and the Treasury Regulations and administrative guidance promulgated thereunder (commonly referred
as the "Foreign Account Tax Compliance Act" or "FATCA") generally impose withholding at a rate of 30%
in certain circumstances on dividends in respect of our securities which are held by or through certain foreign financial institutions
(including investment funds), unless any such institution (1) enters into, and complies with, an agreement with the IRS to
report, on an annual basis, information with respect to interests in, and accounts maintained by, the institution that are owned
by certain U.S. persons and by certain non-U.S. entities that are wholly or partially owned by U.S. persons and to withhold on
certain payments, or (2) if required under an intergovernmental agreement between the United States and an applicable foreign
country, reports such information to its local tax authority, which will exchange such information with the U.S. authorities.
An intergovernmental agreement between the United States and an applicable foreign country may modify these requirements. Accordingly,
the entity through which our securities are held will affect the determination of whether such withholding is required. Similarly,
dividends in respect of our securities held by an investor that is a non-financial non-U.S. entity that does not qualify under
certain exceptions will generally be subject to withholding at a rate of 30%, unless such entity either (1) certifies to us or
the applicable withholding agent that such entity does not have any "substantial United States owners" or (2) provides
certain information regarding the entity's "substantial United States owners," which will in turn be provided
to the U.S. Department of Treasury. The IRS has issued proposed regulations (on which taxpayers may rely until final regulations
are issued) that would generally not apply these withholding requirements to gross proceeds from the sale or other dispositions
of our securities. All prospective investors should consult their tax advisors regarding the possible implications of FATCA on
their investment in our securities.
131
UNDERWRITING
Subject to the terms and conditions set
forth in the underwriting agreement between us and B. Riley Securities, Inc. as the representative of the underwriters named below
and the sole book-running manager of this offering, we have agreed to sell to the underwriters, and each of the underwriters has
agreed, severally and not jointly, to purchase from us, the respective number of units shown opposite its name below:
Underwriter
Number
    of
Units
B. Riley Securities, Inc.
Total
12,500,000
The underwriting agreement will provide
that the obligations of the several underwriters are subject to certain conditions precedent such as the receipt by the underwriters
of officers' certificates and legal opinions and approval of certain legal matters by their counsel. The underwriting agreement
will provide that the underwriters will purchase all of the units if any of them are purchased. If an underwriter defaults, the
underwriting agreement provides that the purchase commitments of the nondefaulting underwriters may be increased or the underwriting
agreement may be terminated. We have agreed to indemnify the underwriters and certain of their controlling persons against certain
liabilities, including liabilities under the Securities Act, and to contribute to payments that the underwriters may be required
to make in respect of those liabilities.
The underwriters have advised us that, following
the completion of this offering, they currently intend to make a market in the units as permitted by applicable laws and regulations.
However, the underwriters are not obligated to do so, and the underwriters may discontinue any market-making activities at any
time without notice in their sole discretion. Accordingly, no assurance can be given as to the liquidity of the trading market
for the units, that you will be able to sell any of the units held by you at a particular time or that the prices that you receive
when you sell will be favorable.
The underwriters are offering the units
subject to their acceptance of the units from us and subject to prior sale. The underwriters reserve the right to withdraw, cancel
or modify offers to the public and to reject orders in whole or in part. In addition, the underwriters have advised us that they
do not intend to confirm sales to any account over which they exercise discretionary authority.
132
Commission and Expenses
The underwriters have advised us that they
propose to offer the units to the public at the initial public offering price set forth on the cover page of this prospectus and
to certain dealers, which may include the underwriters, at that price less a concession not in excess of $        
per unit. The underwriters may allow, and certain dealers may reallow, a discount from the concession not in excess of $        
per unit to certain brokers and dealers. After the offering, the initial public offering price, concession and reallowance to
dealers may be reduced by the representative. No such reduction will change the amount of proceeds to be received by us as set
forth on the cover page of this prospectus.
The following table summarizes the compensation
and estimated expenses we will pay. Such amounts are shown assuming both no exercise and full exercise of the underwriters'
option to purchase additional units.
Per
    Unit
(1)
Total
(1)
Without
Over-allotment
With
Over-allotment
Without
Over-allotment
With
Over-allotment
Underwriting
    Discounts and Commissions paid by us
$
0.55
$
0.55
$
6,875,000
$
7,906,250
(1)      Includes
$0.35 per unit, or $4,375,000 in the aggregate payable to the underwriters (or $5,031,250 if the over-allotment option is exercised
in full) will be deposited in the trust account as deferred underwriting commissions. The deferred commissions will be released
to the underwriters only on completion of an initial business combination.
If we do not complete our initial business
combination within 24 months from the closing of this offering, the underwriters have agreed that (i) they will forfeit any rights
or claims to their deferred underwriting discounts and commissions, including any accrued interest thereon, then in the trust
account and (ii) that the deferred underwriters' discounts and commissions will be distributed on a pro rata basis, together
with any accrued interest thereon (which interest will be net of taxes payable) to the public stockholders.
We estimate expenses payable by us in connection
with this offering, other than the underwriting discounts and commissions referred to above, will be approximately $750,000. We
have agreed to pay for FINRA-related fees and expenses of the underwriters' legal counsel, not to exceed $15,000, and the
expenses of investigations and background checks of our officers and directors, not to exceed $20,000 and have agreed to provide
B. Riley Securities, Inc. with a right of first refusal to provide certain financial advisory and placement agent services in
connection with certain future transactions.
Determination of Offering Price
Prior to this offering, there has not been
a public market for our securities. Consequently, the initial public offering price for our units was determined by negotiations
between us and the representative. Among the factors considered in these negotiations were the history and prospects of companies
whose principal business is the acquisition of other companies, prior offerings of those companies, our management, our capital
structure, and currently prevailing general conditions in equity securities markets, including current market valuations of publicly
traded companies considered comparable to our company.
133
We offer no assurances that the initial
public offering price will correspond to the price at which the units will trade in the public market subsequent to the offering
or that an active trading market for the units will develop and continue after the offering.
Listing
We intend to apply to have our units listed
on Nasdaq under the trading symbol "SGAMU". We expect that our Class A common stock and warrants will be listed under
the symbols "SGAM" and "SGAMW", respectively, once the Class A common stock and warrants begin separate
trading.
Stamp Taxes
If you purchase units offered in this prospectus,
you may be required to pay stamp taxes and other charges under the laws and practices of the country of purchase, in addition
to the offering price listed on the cover page of this prospectus.
Option to Purchase Additional Units
We have granted to the underwriters an option,
exercisable for 45 days from the date of this prospectus, to purchase, from time to time, in whole or in part, up to an aggregate
of 1,875,000 units from us at the public offering price set forth on the cover page of this prospectus, less underwriting discounts
and commissions. If the underwriters exercise this option, each underwriter will be obligated, subject to specified conditions,
to purchase a number of additional units proportionate to that underwriter's initial purchase commitment as indicated in
the table above. This option may be exercised only if the underwriters sell more units than the total number set forth on the
cover page of this prospectus.
Letter Agreements
We, our sponsor and our officers and directors
have agreed that, for a period of 180 days from the date of this prospectus, we and they will not, without the prior written consent
of B. Riley Securities, Inc. offer, sell, contract to sell, grant any option to sell (including any short sale), transfer, establish
an open "put equivalent option" within the meaning of Rule 16a-l(h) under the Exchange Act, as amended, pledge or
otherwise dispose of, directly or indirectly, any units, warrants, shares of common stock or any other securities convertible
into, or exercisable, or exchangeable for, shares of common stock currently or hereafter owned either of record or beneficially,
or publicly announce an intention to do any of the foregoing; provided, however, that we may (1) issue and sell the private placement
warrants, (2) issue and sell the additional units to cover our underwriters' over-allotment option (if any), (3) register
with the SEC pursuant to an agreement to be entered into concurrently with the issuance and sale of the securities in this offering,
the resale of the private placement warrants and shares of Class A common stock issuable upon exercise of the warrants and the
founder shares and (4) issue securities in connection with an initial business combination. B. Riley Securities, Inc. in its sole
discretion may release any of the securities subject to these lock-up agreements at any time without notice.
Our initial stockholders have agreed not
to transfer, assign or sell any of their founder shares until the earlier to occur of (A) one year after the completion of our
initial business combination or (B) subsequent to our initial business combination, (x) if the last reported sale price of our
Class A common stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations
and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after our initial business
combination, or (y) the date on which we complete a liquidation, merger, capital stock exchange, reorganization or other similar
transaction that results in all of our stockholders having the right to exchange their shares of common stock for cash, securities
or other property (except as described herein under the section of this prospectus entitled "Principal Stockholders — Restrictions
on Transfers of Founder Shares and Private Placement Warrants"). Any permitted transferees will be subject to the same restrictions
and other agreements of our initial stockholders with respect to any founder shares. We refer to such transfer restrictions throughout
this prospectus as the lock-up.
The private placement warrants (including
the Class A common stock issuable upon exercise of the private placement warrants) will not be transferable, assignable or salable
until 30 days after the completion of our initial business combination (except with respect to permitted transferees as described
herein under the section of this prospectus entitled "Principal Stockholders — Restrictions on Transfers of Founder
Shares and Private Placement Warrants").
134
Stabilization
The underwriters have advised us that they,
pursuant to Regulation M under the Securities Exchange Act of 1934, as amended, and certain persons participating in the offering
may engage in short sale transactions, stabilizing transactions, syndicate covering transactions or the imposition of penalty
bids in connection with this offering. These activities may have the effect of stabilizing or maintaining the market price of
the units at a level above that which might otherwise prevail in the open market. Establishing short sales positions may involve
either "covered" short sales or "naked" short sales.
"Covered" short sales are sales
made in an amount not greater than the underwriters' option to purchase additional units in this offering. The underwriters
may close out any covered short position by either exercising their option to purchase additional units or purchasing units in
the open market. In determining the source of units to close out the covered short position, the underwriters will consider, among
other things, the price of units available for purchase in the open market as compared to the price at which they may purchase
units through the option to purchase additional units.
"Naked" short sales are sales
in excess of the option to purchase additional units. The underwriters must close out any naked short position by purchasing units
in the open market. A naked short position is more likely to be created if the underwriters are concerned that there may be downward
pressure on the price of our units in the open market after pricing that could adversely affect investors who purchase in this
offering.
A stabilizing bid is a bid for the purchase
of units on behalf of the underwriters for the purpose of fixing or maintaining the price of the units. A syndicate covering transaction
is the bid for or the purchase of units on behalf of the underwriters to reduce a short position incurred by the underwriters
in connection with the offering. Similar to other purchase transactions, the underwriter's purchases to cover the syndicate
short sales may have the effect of raising or maintaining the market price of our units or preventing or retarding a decline in
the market price of our units. As a result, the price of our units may be higher than the price that might otherwise exist in
the open market. A penalty bid is an arrangement permitting the underwriters to reclaim the selling concession otherwise accruing
to a syndicate member in connection with the offering if the units originally sold by such syndicate member are purchased in a
syndicate covering transaction and therefore have not been effectively placed by such syndicate member.
Neither we nor any of the underwriters make
any representation or prediction as to the direction or magnitude of any effect that the transactions described above may have
on the price of our units. The underwriters are not obligated to engage in these activities and, if commenced, any of the activities
may be discontinued at any time.
The underwriters may also engage in passive
market making transactions in our units on Nasdaq in accordance with Rule 103 of Regulation M during a period before the commencement
of offers or sales of our units in this offering and extending through the completion of distribution. A passive market maker
must display its bid at a price not in excess of the highest independent bid of that security. However, if all independent bids
are lowered below the passive market maker's bid, that bid must then be lowered when specified purchase limits are exceeded.
Electronic Distribution
A prospectus in electronic format may be
made available by e-mail or on the web sites or through online services maintained by one or more of the underwriters or their
affiliates. In those cases, prospective investors may view offering terms online and may be allowed to place orders online. The
underwriters may agree with us to allocate a specific number of units for sale to online brokerage account holders. Any such allocation
for online distributions will be made by the underwriters on the same basis as other allocations. Other than the prospectus in
electronic format, the information on the underwriters' web sites and any information contained in any other web site maintained
by any of the underwriters is not part of this prospectus, has not been approved and/or endorsed by us or the underwriters and
should not be relied upon by investors.
Other Activities and Relationships
We are not under any contractual obligation
to engage any of the underwriters to provide any services for us after this offering, and have no present intent to do so. However,
any of the underwriters may introduce us to potential target businesses or assist us in raising additional capital in the future.
If any of the underwriters provide services to us after this offering, we may pay such underwriter fair and reasonable fees that
would be determined at that time in an arm's length negotiation; provided that no agreement will be entered into with any
of the underwriters and no fees for such services will be paid to any of the underwriters prior to the date that is 60 days from
the date of this prospectus, unless FINRA determines that such payment would not be deemed underwriters' compensation in
connection with this offering and we may pay the underwriters of this offering or any entity with which they are affiliated a
finder's fee or other compensation for services rendered to us in connection with the completion of a business combination.
The underwriters and certain of their affiliates
are full service financial institutions engaged in various activities, which may include securities trading, commercial and investment
banking, financial advisory, investment management, investment research, principal investment, hedging, financing and brokerage
activities. The underwriters and certain of their affiliates have, from time to time, performed, and may in the future perform,
various commercial and investment banking and financial advisory services for us and our affiliates, for which they received or
will receive customary fees and expenses.
In the ordinary course of their various
business activities, the underwriters and certain of their affiliates may make or hold a broad array of investments and actively
trade debt and equity securities (or related derivative securities) and financial instruments (including bank loans) for their
own account and for the accounts of their customers, and such investment and securities activities may involve securities and/or
instruments issued by us and our affiliates. The underwriters and certain of their respective affiliates may also communicate
independent investment recommendations, market color or trading ideas and/or publish or express independent research views in
respect of such securities or instruments and may at any time hold, or recommend to clients that they acquire, long and/or short
positions in such securities and instruments.
Selling Restrictions
Canada
Resale Restrictions
The distribution of the securities in Canada
is being made only in the provinces of Ontario, Quebec, Alberta and British Columbia on a private placement basis exempt from
the requirement that we prepare and file a prospectus with the securities regulatory authorities in each province where trades
of these securities are made. Any resale of the securities in Canada must be made under applicable securities laws which may vary
depending on the relevant jurisdiction, and which may require resales to be made under available statutory exemptions or under
a discretionary exemption granted by the applicable Canadian securities regulatory authority. Purchasers are advised to seek legal
advice prior to any resale of the securities.
135
Representations of Canadian Purchasers
By purchasing the securities in Canada and
accepting delivery of a purchase confirmation, a purchaser is representing to us and the dealer from whom the purchase confirmation
is received that:
•        the
purchaser is entitled under applicable provincial securities laws to purchase the securities without the benefit of a prospectus
qualified under those securities laws as it is an "accredited investor" as defined under National Instrument 45-106
 —
Prospectus Exemptions
,
•        the
purchaser is a "permitted client" as defined in National Instrument 31-103 —
Registration Requirements, Exemptions
and Ongoing Registrant Obligations
,
•        where
required by law, the purchaser is purchasing as principal and not as agent, and
•        the
purchaser has reviewed the text above under Resale Restrictions.
Conflicts of Interest
Canadian purchasers are hereby notified
that B. Riley Securities, Inc. is relying on the exemption set out in section 3A.3 or 3A.4, if applicable, of National Instrument
33-105 —
Underwriting Conflicts
from having to provide certain conflict of interest disclosure in this document.
Statutory Rights of Action
Securities legislation in certain provinces
or territories of Canada may provide a purchaser with remedies for rescission or damages if the prospectus (including any amendment
thereto) such as this document contains a misrepresentation, provided that the remedies for rescission or damages are exercised
by the purchaser within the time limit prescribed by the securities legislation of the purchaser's province or territory.
The purchaser of these securities in Canada should refer to any applicable provisions of the securities legislation of the purchaser's
province or territory for particulars of these rights or consult with a legal advisor.
Enforcement of Legal Rights
All of our directors and officers as well
as the experts named herein may be located outside of Canada and, as a result, it may not be possible for Canadian purchasers
to effect service of process within Canada upon us or those persons. All or a substantial portion of our assets and the assets
of those persons may be located outside of Canada and, as a result, it may not be possible to satisfy a judgment against us or
those persons in Canada or to enforce a judgment obtained in Canadian courts against us or those persons outside of Canada.
Taxation and Eligibility for Investment
Canadian purchasers of the securities should
consult their own legal and tax advisors with respect to the tax consequences of an investment in the securities in their particular
circumstances and about the eligibility of the securities for investment by the purchaser under relevant Canadian legislation.
Australia
This prospectus is not a disclosure document
for the purposes of Australia's Corporations Act 2001 (C
th
) of Australia, or Corporations Act, has not been lodged
with the Australian Securities & Investments Commission and is only directed to the categories of exempt persons set out below.
Accordingly, if you receive this prospectus in Australia:
You confirm and warrant that you are either:
•        a
 "sophisticated investor" under section 708(8)(a) or (b) of the Corporations Act;
•        a
 "sophisticated investor" under section 708(8)(c) or (d) of the Corporations Act and that you have provided an accountant's
certificate to the Company which complies with the requirements of section 708(8)(c)(i) or (ii) of the Corporations Act and related
regulations before the offer has been made;
136
•        a
person associated with the Company under Section 708(12) of the Corporations Act; or
•        a
 "professional investor" within the meaning of section 708(11)(a) or (b) of the Corporations Act.
To the extent that you are unable to confirm
or warrant that you are an exempt sophisticated investor, associated person or professional investor under the Corporations Act
any offer made to you under this prospectus is void and incapable of acceptance.
You warrant and agree that you will not
offer any of the securities issued to you pursuant to this prospectus for resale in Australia within 12 months of those securities
being issued unless any such resale offer is exempt from the requirement to issue a disclosure document under section 708 of the
Corporations Act.
European Economic Area
The units are not intended to be offered
or sold to and should not be offered or sold to any retail investor in the European Economic Area (the "EEA"). For
these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article
4(1) of Directive 2014/65/EU, as amended ("MiFID II"); or (ii) a customer within the meaning of Directive 2002/92/EC,
as amended (the "Insurance Mediation Directive"), where that customer would not qualify as a professional client as
defined in point (10) of Article 4(1) of MiFID II; or (iii) not a qualified investor as defined in the Directive 2003/71/EC (as
amended, the "Prospectus Directive"). No key information document required by Regulation (EU) No 1286/2014, as amended
(the "PRIIPs Regulation") for offering or selling the units or otherwise making them available to retail investors
in the EEA has been prepared. Offering or selling the units or otherwise making them available to any retail investor in the EEA
may be unlawful under the PRIIPS Regulation. This prospectus has been prepared on the basis that any offer of the units in any
Member State of the EEA will be made pursuant to an exemption under the Prospectus Directive from a requirement to publish a prospectus
for offers of units. This prospectus is not a prospectus for the purpose of the Prospectus Directive.
Hong Kong
No securities have been offered or sold,
and no securities may be offered or sold, in Hong Kong, by means of any document, other than to persons whose ordinary business
is to buy or sell shares or debentures, whether as principal or agent; or to "professional investors" as defined in
the Securities and Futures Ordinance (Cap. 571) of Hong Kong ("
SFO
") and any rules made under that Ordinance;
or in other circumstances which do not result in the document being a "prospectus" as defined in the Companies Ordinance
(Cap. 32) of Hong Kong ("
CO
") or which do not constitute an offer or invitation to the public for the purpose
of the CO or the SFO. No document, invitation or advertisement relating to the securities has been issued or 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 of Hong Kong (except if permitted under the securities
laws of Hong Kong) other than with respect to securities which are or are intended to be disposed of only to persons outside Hong
Kong or only to "professional investors" as defined in the SFO and any rules made under that Ordinance.
This prospectus has not been registered
with the Registrar of Companies in Hong Kong. Accordingly, this prospectus may not be issued, circulated or distributed in Hong
Kong, and the securities may not be offered for subscription to members of the public in Hong Kong. Each person acquiring the
securities will be required, and is deemed by the acquisition of the securities, to confirm that he is aware of the restriction
on offers of the securities described in this prospectus and the relevant offering documents and that he is not acquiring, and
has not been offered any securities in circumstances that contravene any such restrictions.
Israel
This document does not constitute a prospectus
under the Israeli Securities Law, 5728-1968, or the Securities Law, and has not been filed with or approved by the Israel Securities
Authority. In Israel, this prospectus is being distributed only to, and is directed only at, and any offer of the units is directed
only at, (i) a limited number of persons in accordance with the Israeli Securities Law and (ii) investors listed in the first
addendum, or the Addendum, to the Israeli Securities Law, consisting primarily of joint investment in trust funds, provident funds,
insurance companies, banks, portfolio managers, investment advisors, members of the Tel Aviv Stock Exchange, underwriters, venture
capital funds, entities with equity in excess of NIS 50 million and "qualified individuals," each as defined in the
Addendum (as it may be amended from time to time), collectively referred to as qualified investors (in each case, purchasing for
their own account or, where permitted under the Addendum, for the accounts of their clients who are investors listed in the Addendum).
Qualified investors are required to submit written confirmation that they fall within the scope of the Addendum, are aware of
the meaning of same and agree to it.
137
Japan
The offering has not been and will not be
registered under the Financial Instruments and Exchange Law of Japan (Law No. 25 of 1948 of Japan, as amended), or FIEL, and the
Initial Purchaser will not offer or sell any securities, directly or indirectly, in Japan or to, or for the benefit of, any resident
of Japan (which term as used herein means any person resident in Japan, including any corporation or other entity organized under
the laws of Japan), or to others for re-offering or resale, directly or indirectly, in Japan or to, or for the benefit of, any
resident of Japan, except pursuant to an exemption from the registration requirements of, and otherwise in compliance with, the
FIEL and any other applicable laws, regulations and ministerial guidelines of Japan.
Singapore
This prospectus has not been and will not
be lodged or registered as a prospectus with the Monetary Authority of Singapore. Accordingly, this prospectus and any other document
or material in connection with the offer or sale, or invitation for subscription or purchase, of the securities may not be circulated
or distributed, nor may the securities be offered or sold, or be made the subject of an invitation for subscription or purchase,
whether directly or indirectly, to persons in Singapore other than (i) to an institutional investor under Section 274 of the Securities
and Futures Act, Chapter 289 of Singapore (the "
SFA
"), (ii) to a relevant person pursuant to Section 275(1),
or any person pursuant to Section 275(1A), and in accordance with the conditions specified in Section 275, of the SFA, or (iii)
otherwise pursuant to, and in accordance with the conditions of, any other applicable provision of the SFA.
Where the securities are subscribed or purchased
under Section 275 of the SFA by a relevant person which is:
•        a
corporation (which is not an accredited investor (as defined in Section 4A of the SFA)) the sole business of which is to hold
investments and the entire share capital of which is owned by one or more individuals, each of whom is an accredited investor;
or
•        a
trust (where the trustee is not an accredited investor) whose sole purpose is to hold investments and each beneficiary of the
trust is an individual who is an accredited investor,
securities (as defined in Section 239(1) of the SFA) of that
corporation or the beneficiaries' rights and interest (howsoever described) in that trust shall not be transferred within
six months after that corporation or that trust has acquired the securities pursuant to an offer made under Section 275 of the
SFA except:
•        to
an institutional investor or to a relevant person defined in Section 275(2) of the SFA, or to any person arising from an offer
referred to in Section 275(1A) or Section 276(4)(i)(B) of the SFA;
•        where
no consideration is or will be given for the transfer;
•        where
the transfer is by operation of law;
•        as
specified in Section 276(7) of the SFA; or
•        as
specified in Regulation 32 of the Securities and Futures (Offers of Investments) (Shares and Debentures) Regulations 2005 of Singapore.
Switzerland
The securities may not be publicly offered
in Switzerland and will not be listed on the SIX Swiss Exchange ("
SIX
") or on any other stock exchange or regulated
trading facility in Switzerland. This prospectus has been prepared without regard to the disclosure standards for issuance prospectuses
under art. 652a or art. 1156 of the Swiss Code of Obligations or the disclosure standards for listing prospectuses under art.
27 ff. of the SIX Listing Rules or the listing rules of any other stock exchange or regulated trading facility in Switzerland.
Neither this prospectus nor any other offering or marketing material relating to the securities or the offering may be publicly
distributed or otherwise made publicly available in Switzerland.
138
Neither this prospectus nor any other offering
or marketing material relating to the offering, the Company or the securities have been or will be filed with or approved by any
Swiss regulatory authority. In particular, this prospectus will not be filed with, and the offer of securities will not be supervised
by, the Swiss Financial Market Supervisory Authority FINMA, and the offer of securities has not been and will not be authorized
under the Swiss Federal Act on Collective Investment Schemes ("
CISA
"). The investor protection afforded to
acquirers of interests in collective investment schemes under the CISA does not extend to acquirers of securities.
United Kingdom
This prospectus is only being distributed
to, and is only directed at, persons in the United Kingdom that are qualified investors within the meaning of Article 2(1)(e)
of the Prospectus Directive that are also (i) investment professionals falling within Article 19(5) of the Financial Services
and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "
Order
") and/or (ii) high net worth
entities falling within Article 49(2)(a) to (d) of the Order and other persons to whom it may lawfully be communicated (each such
person being referred to as a "
relevant person
").
This prospectus and its contents are confidential
and should not be distributed, published or reproduced (in whole or in part) or disclosed by recipients to any other persons in
the United Kingdom. Any person in the United Kingdom that is not a relevant person should not act or rely on this document or
any of its contents.
139
LEGAL MATTERS
Ellenoff Grossman & Schole LLP, New
York, New York, has passed upon the validity of the securities offered hereby on behalf of us. Certain legal matters will be passed
upon on behalf of the underwriters by White & Case LLP, New York, New York.
EXPERTS
The financial statements of Seaport Global
Acquisition Corp. as of August 17, 2020 and for the period from July 24, 2020 (inception) through August 17, 2020, have been audited
by Marcum 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 Seaport Global 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
the report of such firm given upon their authority as experts in accounting and auditing.
WHERE YOU CAN FIND
ADDITIONAL INFORMATION
We have filed with the SEC a registration
statement on Form S-1 under the Securities Act with respect to the securities we are offering by this prospectus. This prospectus
does not contain all of the information included in the registration statement. For further information about us and our securities,
you should refer to the registration statement and the exhibits and schedules filed with the registration statement. Whenever
we make reference in this prospectus to any of our contracts, agreements or other documents, the references are materially complete
but may not include a description of all aspects of such contracts, agreements or other documents, and you should refer to the
exhibits attached to the registration statement for copies of the actual contract, agreement or other document.
Upon completion of this offering, we will
be subject to the information requirements of the Exchange Act and will file annual, quarterly and current event reports, proxy
statements and other information with the SEC. You can read our SEC filings, including the registration statement, over the Internet
at the SEC's website at
www.sec.gov.
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.
You may also obtain copies of the documents
at prescribed rates by writing to the Public Reference Section of the SEC at 100 F Street, N.E., Washington, D.C. 20549. Please
call the SEC at 1-800-SEC-0330 for further information on the operation of the public reference facilities.
140
SEAPORT GLOBAL ACQUISITION CORP.
INDEX TO FINANCIAL
STATEMENTS
PAGE
Report of Independent Registered
    Public Accounting Firm
F-2
Balance Sheet
F-3
Statement of Operations
F-4
Statement of Changes in Stockholder's
    Equity
F-5
Statement of Cash Flows
F-6
Notes to Financial Statements
F-7
F-
1
REPORT OF INDEPENDENT
REGISTERED PUBLIC ACCOUNTING FIRM
To the Shareholder and Board of Directors of
Seaport Global Acquisition Corp.
Opinion on the Financial Statements
We have audited the accompanying balance
sheet of Seaport Global Acquisition Corp. (the "Company") as of August 17, 2020, and the related statements of operations,
changes in stockholder's equity and cash flows for the period from July 24, 2020 (inception) through August 17, 2020 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 August 17, 2020, and the results of its
operations and its cash flows for the period from July 24, 2020 (inception) through August 17, 2020 in conformity with accounting
principles generally accepted in the United States of America.
Explanatory Paragraph — Going Concern
The accompanying financial statements
have been prepared assuming that the Company will continue as a going concern. As more fully described in Note 1 to the financial
statements, the Company's ability to execute its business plan is dependent upon its completion of the proposed initial
public offering described in Note 3 to the financial statements. The Company has a working capital deficiency as of August 17,
2020 and lacks the financial resources it needs to sustain operations for a reasonable period of time, which is considered to
be one year from the issuance date of the financial statements. These conditions raise substantial doubt about the Company's
ability to continue as a going concern. Management's plans in regard to these matters are also described in Notes 1 and
3 to the financial statements. The financial statements do not include any adjustments that might become necessary should the
Company be unable to continue as a going concern.
Basis for Opinion
These financial statements are the responsibility
of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based
on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (the
 "PCAOB") and are required to be independent with respect to the Company in accordance with the U.S. federal securities
laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audit in accordance with
the standards of the PCAOB. Those
standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are
free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform,
an audit of its internal control over financial reporting. As part of our audit, we are required to obtain an understanding of
internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the 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.
/s/ Marcum LLP
Marcum LLP
We have served as the Company's auditor since 2020.
New York, NY
September 10, 2020
F-
2
SEAPORT GLOBAL ACQUISITION CORP.
BALANCE SHEETS
August
    17,
2020
(Audited)
ASSETS
Current asset – cash
$
25,000
Deferred offering costs
57,500
Total Assets
$
82,500
LIABILITIES AND STOCKHOLDER'S EQUITY
Current liabilities
Promissory note – related
    party
60,266
Total Liabilities
60,266
Commitments
Stockholder's Equity
Preferred stock, $0.0001 par value; 1,000,000 shares
    authorized, none issued and outstanding
—
Class A common stock, $0.0001 par value; 100,000,000
    shares authorized; none issued and outstanding
—
Class
    B common stock, $0.0001 par value; 10,000,000 shares authorized; 3,593,750 shares issued and outstanding
(1)
359
Additional paid-in capital
24,641
Accumulated deficit
(2,766
)
Total Stockholder's
    Equity
22,234
Total Liabilities and Stockholder's
    Equity
$
82,500
(1)
Includes
                                         up to 468,750 Class B shares subject to forfeiture if the over-allotment option is not
                                         exercised in full or in part by the underwriter (see Note 7).
The accompanying
notes are an integral part of the financial statements.
F-
3
SEAPORT GLOBAL ACQUISITION CORP.
STATEMENT OF OPERATIONS
FOR THE PERIOD FROM JULY 24, 2020 (INCEPTION)
THROUGH AUGUST 17, 2020
August
    17
2020
(Audited)
Formation and operating
    costs
$
2,766
Net loss
$
(2,766
)
Weighted
    average shares outstanding, basic and diluted
(1)
3,125,000
Basic and diluted net loss
    per common share
$
(0.00
)
(1)
Excludes
                                         up to 468,750 Class B shares subject to forfeiture if the over-allotment option is not
                                         exercised in full or in part by the underwriter (see Note 7).
The accompanying
notes are an integral part of the financial statements.
F-
4
SEAPORT GLOBAL ACQUISITION CORP.
STATEMENT OF CHANGES
IN STOCKHOLDER'S EQUITY
FOR THE PERIOD FROM JULY 24, 2020 (INCEPTION)
THROUGH AUGUST 17, 2020
Class
    B
Common Stock
(1)
Additional
Paid-in
Capital
Accumulated
Deficit
Stockholder's
Equity
Shares
Balance, July 24, 2020 (Inception)
—
$
—
$
—
$
—
$
—
Issuance
    of common stock to Sponsor
(1)
3,593,750
359
24,640
—
24,999
Net loss
—
—
—
(2,766
)
(2,766
)
Balance, August 17, 2020
3,593,750
$
359
$
24,640
$
(2,766
)
$
22,233
(1)
Includes
                                         up to 468,750 Class B shares subject to forfeiture if the over-allotment option is not
                                         exercised in full or in part by the underwriter (see Note 7).
The accompanying
notes are an integral part of the financial statements.
F-
5
SEAPORT GLOBAL ACQUISITION CORP.
STATEMENT OF CASH
FLOWS
FOR THE PERIOD FROM JULY 24, 2020 (INCEPTION)
THROUGH AUGUST 17, 2020
August
    17, 2020
Cash flows from Operating Activities:
Net loss
$
(2,766
)
Net cash used in operating
    activities
(2,766
)
Cash Flows from Financing Activities:
Proceeds from issuance of Class B common stock to Sponsor
25,000
Proceeds from promissory note – related party
60,266
Payment of offering costs
(57,500
)
Net cash provided by financing
    activities
25,000
Net Change in Cash
25,000
Cash – Beginning
—
Cash – Ending
$
25,000
Supplemental disclosure of non-cash investing
    and financing activities:
Offering costs included in accrued
    offering costs
$
57,500
The accompanying
notes are an integral part of the financial statements.
F-
6
SEAPORT GLOBAL
ACQUSITION CORP.
NOTES
TO FINANCIAL STATEMENTS
NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS
OPERATIONS
Seaport Global Acquisition
Corp. (the "Company") is a blank check company incorporated in Delaware on July 24 2020. The Company was formed for
the purpose of effectuating a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar
business combination with one or more businesses (the "Business Combination").The Company is an early stage and emerging
growth company and, as such, the Company is subject to all of the risks associated with early stage and emerging growth companies.
As of August 17, 2020, the Company had
not yet commenced any operations. All activity for the period July 24, 2020 (inception) through August 17, 2020 relates to the
Company's formation and the proposed initial public offering (the "Proposed Offering"). The Company has selected
December 31 as its fiscal year end.
The Company's
ability to commence operations is contingent upon obtaining adequate financial resources through a proposed initial public offering
of 12,500,000 units at $10.00 per unit (or 14,375,000 units if the underwriter's over-allotment option is exercised in full)
(the "Units" and, with respect to the shares of Class A common stock included in the Units being offered, the "Public
Shares") which is discussed in Note 3 and the sale of 4,250,000 warrants (or 4,625,000 warrants if the underwriter's
over-allotment option is exercised in full) (the "Private Placement Warrants") at a price of $1.00 per Private Placement
Warrant that will close in a private placement to Seaport Global SPAC, LLC (the "Sponsor") simultaneously with the
closing of the Proposed Offering (see Note 4).
The Company's
management has broad discretion with respect to the specific application of the net proceeds of the Proposed Offering and the
sale of the Private Placement Warrants, although substantially all of the net proceeds are intended to be applied generally toward
consummating a Business Combination. NASDAQ rules provide that the 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 (as defined below) (less any
deferred underwriting commissions and taxes payable on interest earned on the Trust Account) at the time of the signing a definitive
agreement to enter a Business Combination. The Company will only complete a Business Combination if the post-Business Combination
company owns or acquires 50% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest
in the target sufficient for it not to be required to register as an investment company under the Investment Company Act of 1940,
as amended (the "Investment Company Act"). There is no assurance that the Company will be able to successfully effect
a Business Combination. Upon the closing of the Proposed Offering, management has agreed that $10.00 per Unit sold in the Proposed
Offering, including the proceeds from the sale of the Private Placement Warrants, will be held in a trust account (the "Trust
Account") and invested in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment
Company Act, with a maturity of 185 days or less, or in any open-ended investment company that holds itself out as a money market
fund meeting the conditions of Rule 2a-7 of the Investment Company Act, as determined by the Company, until the earlier of: (i)
the consummation of a Business Combination or (ii) the distribution of the funds in the Trust Account to the Company's stockholders,
as described below.
The Company will
provide its holders of the outstanding Public Shares (the "public stockholders") with the opportunity to redeem all
or a portion of their Public Shares upon the completion of a Business Combination either (i) in connection with a stockholder
meeting called to approve the Business Combination or (ii) by means of a tender offer. In connection with a proposed Business
Combination, the Company may seek stockholder approval of a Business Combination at a meeting called for such purpose at which
stockholders may seek to redeem their shares, regardless of whether they vote for or against a Business Combination. The Company
will proceed with a Business Combination only if the Company has net tangible assets of at least $5,000,001 either immediately
prior to or upon such consummation of a Business Combination and, if the Company seeks stockholder approval, a majority of the
outstanding shares voted are voted in favor of the Business Combination.
If the Company seeks
stockholder approval of a Business Combination and it does not conduct redemptions pursuant to the tender offer rules, the Company's
Amended and Restated Certificate of Incorporation provides that, a public stockholder, together with any affiliate of such stockholder
or any other person with whom such stockholder is acting in concert or as a "group" (as defined under Section 13 of
the Securities Exchange Act of 1934, as amended (the "Exchange Act")), will be restricted from seeking redemption
rights with respect to 20% or more of the Public Shares without the Company's prior written consent.
F-
7
SEAPORT GLOBAL
ACQUISITION CORP.
NOTES TO FINANCIAL STATEMENTS
NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS
OPERATIONS
(cont.)
The public stockholders will be entitled
to redeem their shares for a 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 the Company to pay its tax obligations).
The per-share amount to be distributed to stockholders who redeem their shares will not be reduced by the deferred underwriting
commissions the Company will pay to the underwriter (as discussed in Note 7). There will be no redemption rights upon the completion
of a Business Combination with respect to the Company's warrants. These shares of Class A common stock will be recorded
at a redemption value and classified as temporary equity upon the completion of the Proposed Offering, in accordance with Accounting
Standards Codification ("ASC") Topic 480 "Distinguishing Liabilities from Equity."
If a stockholder vote is not required
and the Company does not decide to hold a stockholder vote for business or other legal reasons, the Company will, pursuant to
its Amended and Restated Certificate of Incorporation, offer such redemption pursuant to the tender offer rules of the Securities
and Exchange Commission (the "SEC"), and file tender offer documents containing substantially the same information
as would be included in a proxy statement with the SEC prior to completing a Business Combination.
The Company's Sponsor has agreed
(a) to vote its Founder Shares (as defined in Note 5), the common stock included in the Private Units (the "Private Shares")
and any Public Shares purchased during or after the Proposed Offering in favor of a Business Combination, (b) not to propose an
amendment to the Company's Amended and Restated Certificate of Incorporation with respect to the Company's pre-Business
Combination activities prior to the consummation of a Business Combination unless the Company provides dissenting public stockholders
with the opportunity to redeem their Public Shares in conjunction with any such amendment; (c) not to redeem any shares (including
the Founder Shares) and Private Placement Warrants (including underlying securities) into the right to receive cash from the Trust
Account in connection with a stockholder vote to approve a Business Combination (or to sell any shares in a tender offer in connection
with a Business Combination if the Company does not seek stockholder approval in connection therewith) or a vote to amend the
provisions of the Amended and Restated Certificate of Incorporation relating to stockholders' rights of pre-Business Combination
activity and (d) that the Founder Shares and Private Placement Warrants (including underlying securities) shall not participate
in any liquidating distributions upon winding up if a Business Combination is not consummated. However, the Sponsor will be entitled
to liquidating distributions from the Trust Account with respect to any Public Shares purchased during or after the Proposed Offering
if the Company fails to complete its Business Combination.
If the Company is unable to complete
a Business Combination within 24 months from the closing of the Proposed Offering (the "Combination Period"), the
Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but no more
than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount
then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account and not previously released
to us to pay taxes (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding public
shares, which redemption will completely extinguish public stockholders' rights as stockholders (including the right to
receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following
such redemption, subject to the approval of the remaining stockholders and the Company's board of directors, proceed to
commence a voluntary liquidation and thereby a formal dissolution of the Company, subject in each case to its obligations to provide
for claims of creditors and the requirements of applicable law. The underwriter has agreed to waive its rights to the deferred
underwriting commission held in the Trust Account in the event the Company does not complete a Business Combination within the
Combination Period 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 the Public Shares. In the event of such distribution, it is possible that the per share value of the
assets remaining available for distribution will be less than the Proposed Offering price per Unit ($10.00).
F-
8
SEAPORT GLOBAL
ACQUISITION CORP.
NOTES TO FINANCIAL STATEMENTS
NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS
OPERATIONS
(cont.)
The Sponsor has agreed that it
will be liable to the Company if and to the extent any claims by a third party for services rendered or products sold to the Company,
or a prospective target business with which the Company has entered into a written letter of intent, confidentiality or similar
agreement or Business Combination agreement, reduce the amount of funds in the Trust Account to below the lesser of (i) $10.00
per Public Share and (ii) the actual amount per Public Share held in the Trust Account as of the day of liquidation of the Trust
Account, if less than $10.00 per share due to reductions in the value of the trust assets, less taxes payable, provided that such
liability will not apply to any claims by a third party or prospective target business who executed a waiver of any and all rights
to monies held in the Trust Account (whether or not such waiver is enforceable) nor will it apply to any claims under the Company's
indemnity of the underwriter of Proposed Offering against certain liabilities, including liabilities under the Securities Act
of 1933, as amended (the "Securities Act"). However, the Company has not asked the Sponsor to reserve for such indemnification
obligations, nor has the Company independently verified whether the Sponsor has sufficient funds to satisfy its indemnity obligations
and believe that the Sponsor's only assets are securities of the Company. Therefore, the Company cannot assure its stockholders
that the Sponsor would be able to satisfy those obligations. None of the Company's officers or directors will indemnify
the Company for claims by third parties including, without limitation, claims by vendors and prospective target businesses. The
Company will seek to reduce the possibility that the Sponsor will have to indemnify the Trust Account due to claims of creditors
by endeavoring to have all vendors, service providers, prospective target businesses or other entities with which the Company
does business, execute agreements with the Company waiving any right, title, interest or claim of any kind in or to monies held
in the Trust Account.
Going Concern Consideration
At August 17, 2020, the Company
had $25,000 in cash and a working capital deficiency of $35,266. 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 for a period of time within one year after the date that the financial statements are issued. Management
plans to address this uncertainty through the Proposed Offering as discussed in Note 3. There is no assurance that the Company's
plans to raise capital or to consummate a Business Combination will be successful or successful within the Combination Period.
The financial statements do not include any adjustments that might result from the outcome of this uncertainty.
NOTE 2. SUMMARY
OF 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 ("GAAP")
and pursuant to the rules and regulations of the SEC.
In the opinion of management, the accompanying
unaudited financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair
presentation of the financial position, operating results and cash flows for the period presented. The interim results for the
period from July 24, 2020 (inception) through August 17, 2020 are not necessarily indicative of the results to be expected for
the year ending December 31, 2020 or for any future interim periods.
Emerging growth company
The Company is 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 (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 independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley
Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions
from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute
payments not previously approved.
F-
9
SEAPORT GLOBAL ACQUSITION CORP.
NOTES TO FINANCIAL STATEMENTS
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(cont.)
Further, Section 102(b)(1) of
the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards
until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not
have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting
standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements
that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt
out of such extended transition period, which means that when a standard is issued or revised and it has different application
dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the
time private companies adopt the new or revised standard. This may make comparison of the Company's financial statements
with another public company, which is neither an emerging growth company nor an emerging growth company which has opted out of
using the extended transition period difficult or impossible because of the potential differences in accounting standards used.
Use of estimates
The preparation of financial
statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets
and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts
of revenues and expenses during the reporting period.
Making estimates requires management
to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation
or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate,
could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly
from those estimates.
Cash and cash equivalents
The Company considers all short-term
investments with an original maturity of three months or less when purchased to be cash equivalents. The Company did not have
any cash equivalents as of August 17, 2020.
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 Offering and that will be charged to stockholder's equity upon the completion of the Proposed Offering. Should
the Proposed Offering prove to be unsuccessful, these deferred costs, as well as additional expenses incurred, will be charged
to operations.
Income taxes
The Company complies with the
accounting and reporting requirements of ASC Topic 740, "Income Taxes," which requires an asset and liability approach
to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences
between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts,
based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income.
Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized.
ASC Topic 740 prescribes a recognition
threshold and a measurement attribute for the financial statement recognition and measurement of tax positions 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. The Company recognizes accrued interest and penalties related to unrecognized tax benefits,
if any, as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of
August 17, 2020. The Company is currently not aware of any issues under review that could result in significant payments, accruals
or material deviation from its position.
F-
10
SEAPORT GLOBAL ACQUISITION CORP.
NOTES TO FINANCIAL STATEMENTS
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
(cont.)
The provision for income taxes
was deemed to be immaterial for all periods presented.
Net loss per common share
Net loss per share of common
stock is computed by dividing net loss by the weighted average number of common shares outstanding during the period, excluding
common shares subject to forfeiture. Weighted average shares were reduced for the effect of an aggregate of 468,750 shares of
Class B common stock that are subject to forfeiture if the over-allotment option is not exercised by the underwriter (see Notes
7 and 8). At August 17, 2020, the Company did not have any dilutive securities and other contracts that could, potentially, be
exercised or converted into common stock and then share in the earnings of the Company. As a result, diluted loss per share is
the same as basic loss per share for the period presented.
Concentration of credit risk
Financial instruments that potentially
subject the Company to concentration of credit risk consist of a cash account in a financial institution which, at times may exceed
the Federal Depository Insurance Corporation coverage limit of $250,000. At August 17, 2020, the Company had not experienced losses
on this account and management believes the Company is not exposed to significant risks on such account.
Fair value of financial instruments
The fair value of the Company's
assets and liabilities, which qualify as financial instruments under ASC Topic 820, "Fair Value Measurements and Disclosures,"
approximates the carrying amounts represented in the accompanying balance sheet, primarily due to their short-term nature.
Recently issued accounting standards
Management does not believe
that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect
on the Company's financial statements.
NOTE 3. PROPOSED OFFERING
Pursuant to the Proposed Offering,
the Company will offer for sale up to 12,500,000 Units (or 14,375,000 Units if the underwriter's overallotment option is
exercised in full) at a purchase price of $10.00 per Unit. Each Unit will consist of one share of the Company's Class A
common stock, $0.0001 par value, and one-half of one redeemable warrant ("Public Warrant"). Each Public Warrant will
entitle the holder to purchase one share of Class A common stock at an exercise price of $11.50 per whole share (see Note 7).
NOTE 4. PRIVATE PLACEMENT
The Sponsor has agreed to purchase
an aggregate of 4,250,000 Private Placement Warrants (or 4,625,000 Private Placement Warrants if the over-allotment option is
exercised in full) at a price of $1.00 per warrant ($4,250,000 in the aggregate, or $4,625,000 if the over-allotment option is
exercised in full), each exercisable to purchase one share of Class A common stock at a price of $11.50 per share, in a private
placement that will close simultaneously with the closing of Proposed Offering. The proceeds from the sale of the Private Placement
Warrants will be added to the net proceeds from the Proposed Offering held in the Trust Account. If the Company does not complete
a Business Combination within the Combination Period, the proceeds from the sale of the Private Placement Warrants will be used
to fund the redemption of the Public Shares (subject to the requirements of applicable law) and the Private Placement Warrants
will expire worthless.
F-
11
SEAPORT GLOBAL ACQUISITION CORP.
NOTE 5. RELATED PARTY TRANSACTIONS
Founder Shares
In July 2020, the Company issued
an aggregate of 3,593,750 shares (the "Founder Shares") to the Sponsor for an aggregate purchase price of $25,000
in cash.
The initial stockholders have
agreed not to transfer, assign or sell any of their Founder Shares until the earlier to occur of: (A) one year after the completion
of a Business Combination or (B) the date on which the Company completes a liquidation, merger, capital stock exchange or similar
transaction that results in the Company's stockholders having the right to exchange their shares of common stock for cash,
securities or other property. Notwithstanding the foregoing, if the last sale price of the Company's Class A common stock
equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the
like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the Business Combination, the
Founder Shares will be released from the lock-up.
Promissory Note — Related Party
On July 24, 2020, the Sponsor agreed to
loan the Company an aggregate of up to $300,000 to cover expenses related to the Proposed Offering pursuant to a promissory note
(the "Note"). The Note is non-interest bearing and is payable on the earlier of December 31, 2021 or the completion
of the Proposed Offering. As of August 17, 2020, the Company had an aggregate of $60,266 outstanding under the Note.
Related Party Loans
In order to finance transaction
costs in connection with a Business Combination, the Company's Sponsor, an affiliate of the Sponsor, or the Company's
officers and directors may, but are not obligated to, loan the Company funds as may be required (the "Working Capital Loans").
Such Working Capital Loans would be evidenced by promissory notes. The notes would either be repaid upon consummation of a Business
Combination, without interest, or, at the lender's discretion, up to $1,500,000 of notes may be converted upon consummation
of a Business Combination into warrants at a price of $1.00 per warrant. The warrants will be identical to the Private Placement
Warrants. In the event that a Business Combination does not close, the Company may use a portion of proceeds held outside the
Trust Account to repay the Working Capital Loans but no proceeds held in the Trust Account would be used to repay the Working
Capital Loans.
Administrative Support Agreement
Commencing on the day the Units
are first listed on the NASDAQ, the Company will agree to pay the Sponsor a total of $10,000 per month for office space, utilities
and secretarial and administrative support. Upon completion of the Business Combination or the Company's liquidation, the
Company will cease paying these monthly fees.
NOTE 6. COMMITMENTS
Registration Rights
The holders of the Founder Shares,
Private Placement Warrants and any warrants that may be issued upon conversion of the Working Capital Loans (and any shares of
Class A common stock issuable upon the exercise of the Private Placement Warrants and warrants that may be issued upon conversion
of Working Capital Loans and upon conversion of the Founder Shares) will be entitled to registration rights pursuant to a registration
rights agreement to be signed prior to or on the effective date of the Proposed Offering, requiring the Company to register such
securities for resale (in the case of the Founder Shares, only after conversion to our Class A common stock). The holders of the
majority of these securities are entitled to make up to three demands, excluding short form demands, that the Company register
such securities. In addition, the holders have certain "piggy-back" registration rights with respect to registration
statements filed subsequent to the consummation of a Business Combination and rights to require the Company to register for resale
such securities pursuant to Rule 415 under the Securities Act. The Company will bear the expenses incurred in connection with
the filing of any such registration statements.
F-
12
SEAPORT GLOBAL ACQUISITION CORP.
NOTES TO FINANCIAL STATEMENTS
NOTE 6. COMMITMENTS
(cont.)
Underwriter's Agreement
The Company will grant the underwriter
a 45-day option to purchase up to 1,875,000 additional Units to cover over-allotments at the Proposed Offering price, less the
underwriting discounts and commissions.
The underwriter will be entitled
to a cash underwriting discount of two percent (2.00%) of the gross proceeds of the Proposed Offering, or $2,500,000 (or $2,875,000
if the over-allotment option in exercised in full). In addition, the underwriter will be entitled to a deferred fee of three and
half percent (3.50%) of the gross proceeds of the Proposed Offering, or $4,375,000 (or $5,031,250 if the over-allotment option
in exercised in full). The deferred fee will become payable to the underwriter from the amounts held in the Trust Account solely
in the event that the Company completes a Business Combination, subject to the terms of the underwriting agreement.
NOTE 7. STOCKHOLDERS' EQUITY
Preferred Stock
— The Company is authorized to issue 1,000,000 shares of $0.0001 par value preferred stock. At August 17, 2020, there were
no shares of Preferred Stock issued or outstanding.
Class A Common Stock
—
The Company is authorized to issue up to 100,000,000 shares of Class A, $0.0001 par value common stock. Holders of the Company's
common stock are entitled to one vote for each share. At August 17, 2020, there were no shares of Class A common stock issued
or outstanding.
Class B Common Stock
—
The Company is authorized to issue up to 10,000,000 shares of Class B, $0.0001 par value common stock. Holders of the Company's
common stock are entitled to one vote for each share. The shares of Class B common stock will automatically convert into shares
of Class A common stock at the time of the Business Combination on a one-for-one basis, subject to adjustment for stock splits,
stock dividends, reorganizations, recapitalizations and the like. In the case that additional shares of Class A common stock,
or equity linked securities, are issued or deemed issued in excess of the amounts offered in the Proposed Offering and related
to the closing of a Business Combination, the ratio at which shares of Class B common stock shall convert into shares of Class
A common stock will be adjusted (unless the holders of a majority of the outstanding shares of Class B common stock agree to waive
such adjustment with respect to any such issuance or deemed issuance) so that the number of shares of Class A common stock issuable
upon conversion of all shares of Class B common stock will equal, in the aggregate, on an as converted basis, 20% of the sum of
the total number of all shares of common stock outstanding upon the completion of the Proposed Offering plus all shares of Class
A common stock and equity linked securities issued or deemed issued in connection with a Business Combination (excluding any shares
or equity linked securities issued, or to be issued, to any seller in a Business Combination, and any private placement-equivalent
warrants issued to the Sponsor or its affiliates upon conversion of loans made to the Company). Holders of Founder Shares may
also elect to convert their shares of Class B common stock into an equal number of shares of Class A common stock, subject to
adjustment as provided above, at any time.
F-
13
SEAPORT GLOBAL ACQUISITION CORP.
NOTES TO FINANCIAL STATEMENTS
NOTE 7. STOCKHOLDERS' EQUITY
(cont.)
The Company may issue additional
common stock or preferred stock to complete its Business Combination or under an employee incentive plan after completion of its
Business Combination.
Warrants —
The Public Warrants will become exercisable on the later of (a) 30 days after the consummation of a Business Combination or (b)
12 months from the effective date of the registration statement relating to the Proposed Offering. No Public Warrants will be
exercisable for cash unless the Company has an effective and current registration statement covering the common shares issuable
upon exercise of the Public Warrants and a current prospectus relating to such common shares. Notwithstanding the foregoing, if
a registration statement covering the Class A common shares issuable upon the exercise of the Public Warrants is not effective
within 60 days from the consummation of a Business Combination, the holders may, until such time as there is an effective registration
statement and during any period when the Company shall have failed to maintain an effective registration statement, exercise the
Public Warrants on a cashless basis pursuant to an available exemption from registration under the Securities Act. If an exemption
from registration is not available, holders will not be able to exercise their Public Warrants on a cashless basis. The Public
Warrants will expire five years from the consummation of a Business Combination or earlier upon redemption or liquidation.
The Company may call the Public
Warrants for redemption (excluding the Private Placement Warrants), in whole and not in part, at a price of $0.01 per warrant:
•        upon
not less than 30 days' prior written notice of redemption to each Public Warrant holder,
•        if,
and only if, the last sale price of our Class A common stock equals or exceeds $18.00 per share (as adjusted for stock splits,
stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within a 30-trading day period ending
on the third trading day prior to the date on which the Company sends the notice of redemption to the warrant holders.
The Private Placement Warrants
will be identical to the Public Warrants underlying the Units being sold in the Proposed Offering, except that the Private Placement
Warrants will and the common shares issuable upon the exercise of the Private Placement Warrants will not be transferable, assignable
or salable until after the completion of a Business Combination, subject to certain limited exceptions. Additionally, the Private
Placement Warrants will be exercisable on a cashless basis and will be non-redeemable so long as they are held by the initial
purchasers or their permitted transferees. If the Private Placement Warrants are held by someone other than the initial purchasers
or their permitted transferees, the Private Placement Warrants will be redeemable by the Company and exercisable by such holders
on the same basis as the Public Warrants.
The exercise price and number
of shares of Class A common stock issuable upon exercise of the warrants may be adjusted in certain circumstances including in
the event of a share dividend, or recapitalization, reorganization, merger or consolidation. Additionally, in no event will the
Company be required to net cash settle the Public Warrants. If the Company is unable to complete a Business Combination within
the Combination Period and the Company liquidates the funds held in the Trust Account, holders of warrants will not receive any
of such funds with respect to their warrants, nor will they receive any distribution from the Company's assets held outside
of the Trust Account with the respect to such warrants. Accordingly, the warrants may expire worthless. If the Company calls the
Public Warrants for redemption, management will have the option to require all holders that wish to exercise the Public Warrants
to do so on a "cashless basis," as described in the warrant agreement. The exercise price and number of common shares
issuable upon exercise of the Public Warrants may be adjusted in certain circumstances including in the event of a stock dividend,
extraordinary dividend or recapitalization, reorganization, merger or consolidation. If the Company is unable to complete a Business
Combination within the Combination Period and the Company liquidates the funds held in the Trust Account, holders of warrants
will not receive any of such funds with respect to their warrants, nor will they receive any distribution from the Company's
assets held outside of the Trust Account with respect to such warrants. Accordingly, the warrants may expire worthless.
F-
14
SEAPORT GLOBAL ACQUISITION CORP. NOTES
TO FINANCIAL STATEMENTS
NOTE 7. STOCKHOLDERS' EQUITY
(cont.)
In addition, if (x) the Company
issues additional shares of Class A common stock or equity-linked securities for capital raising purposes in connection with the
closing of its initial Business Combination at an issue price or effective issue price of less than $9.20 per share of Class A
common stock (with such issue price or effective issue price to be determined in good faith by the Company's board of directors
and, in the case of any such issuance to the Sponsor or its affiliates, without taking into account any Founder Shares held by
the Sponsor or such affiliates, as applicable, prior to such issuance) (the "Newly Issued Price"), (y) the aggregate
gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the
funding of the Company's initial Business Combination on the date of the consummation of such initial Business Combination
(net of redemptions), and (z) the volume weighted average trading price of the Company's common stock during the 20 trading
day period starting on the trading day prior to the day on which the Company consummates its initial Business Combination (such
price, the "Market Value") is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest
cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price and the $18.00 per share redemption trigger
price described above will be adjusted (to the nearest cent) to be equal to 180% of the higher of the Market Value and the Newly
Issued Price.
NOTE 8. SUBSEQUENT EVENTS
The Company evaluated subsequent
events and transactions that occurred after the balance sheet date up to September 10, 2020, the date that the financial statements
were available to be issued. The Company did not identify any subsequent events that would have required adjustment or disclosure
in the financial statements.
F-
15
12,500,000 Units
Seaport Global Acquisition Corp.
PRELIMINARY PROSPECTUS
, 2020
Sole Book-Running Manager
B. Riley Securities, Inc.
Until         ,
2020 (25 days after the date of this prospectus), all dealers that buy, sell or trade our Class A 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.
You should rely only on the information
contained in this prospectus. We have not, and the underwriters have not, authorized anyone to provide you with different information.
If anyone provides you with different or inconsistent information, you should not rely on it. We are not, and the underwriters
are not, making an offer to sell securities in any jurisdiction where the offer or sale is not permitted. You should not assume
that the information contained in this prospectus is accurate as of any date other than the date on the front of this prospectus.
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.
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:
Legal
    fees and expenses
225,000
Accounting
    fees and expenses
40,000
SEC/FINRA Expenses
38,000
Travel and
    road show
20,000
Nasdaq listing
    and filing fees
75,000
Director
    and Officer liability insurance premiums
(1)
125,000
Printing and
    engraving expenses
40,000
Miscellaneous
    expenses
187,000
Total
    offering expenses
$
750,000
(1)      This
amount represents the approximate amount of annual director and officer liability insurance premiums the registrant anticipates
paying following the completion of its initial public offering and until it completes an initial business combination.
Item 14. Indemnification of Directors and officers.
Our amended and restated certificate of
incorporation will provide that all of our directors, officers, employees and agents shall be entitled to be indemnified by us
to the fullest extent permitted by Section 145 of the DGCL. 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.
II-
1
(c)     To
the extent that a present or former director or officer of a corporation has been successful on the merits or otherwise in defense
of any action, suit or proceeding referred to in subsections (a) and (b) of this section, or in defense of any claim, issue or
matter therein, such person shall be indemnified against expenses (including attorneys' fees) actually and reasonably incurred
by such person in connection therewith.
(d)    Any
indemnification under subsections (a) and (b) of this section (unless ordered by a court) shall be made by the corporation only
as authorized in the specific case upon a determination that indemnification of the present or former director, officer, employee
or agent is proper in the circumstances because the person has met the applicable standard of conduct set forth in subsections
(a) and (b) of this section. Such determination shall be made, with respect to a person who is a director or officer at the time
of such determination, (1) by a majority vote of the directors who are not parties to such action, suit or proceeding, even though
less than a quorum, or (2) by a committee of such directors designated by majority vote of such directors, even though less than
a quorum, or (3) if there are no such directors, or if such directors so direct, by independent legal counsel in a written opinion,
or (4) by the stockholders.
(e)     Expenses
(including attorneys' fees) incurred by an officer or director in defending any civil, criminal, administrative or investigative
action, suit or proceeding may be paid by the corporation in advance of the final disposition of such action, suit or proceeding
upon receipt of an undertaking by or on behalf of such director or officer to repay such amount if it shall ultimately be determined
that such person is not entitled to be indemnified by the corporation as authorized in this section. Such expenses (including
attorneys' fees) incurred by former officers and directors or other employees and agents may be so paid upon such terms
and conditions, if any, as the corporation deems appropriate.
(f)     The
indemnification and advancement of expenses provided by, or granted pursuant to, the other subsections of this section shall not
be deemed exclusive of any other rights to which those seeking indemnification or advancement of expenses may be entitled under
any bylaw, agreement, vote of stockholders or disinterested directors or otherwise, both as to action in such person's official
capacity and as to action in another capacity while holding such office. A right to indemnification or to advancement of expenses
arising under a provision of the certificate of incorporation or a bylaw shall not be eliminated or impaired by an amendment to
such provision after the occurrence of the act or omission that is the subject of the civil, criminal, administrative or investigative
action, suit or proceeding for which indemnification or advancement of expenses is sought, unless the provision in effect at the
time of such act or omission explicitly authorizes such elimination or impairment after such action or omission has occurred.
(g)    A corporation
shall have power to purchase and maintain insurance on behalf of any person who is or was a director, officer, employee or agent
of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another
corporation, partnership, joint venture, trust or other enterprise against any liability asserted against such person and incurred
by such person in any such capacity, or arising out of such person's status as such, whether or not the corporation would
have the power to indemnify such person against such liability under this section.
II-
2
(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 by law, agreement, vote of stockholders or disinterested directors, or
otherwise. The Court of Chancery may summarily determine a corporation's obligation to advance expenses (including attorneys'
fees).
Insofar as indemnification for liabilities
arising under the Securities Act 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 amended and restated certificate of incorporation, will provide that no director shall be personally liable to us
or any of our stockholders for monetary damages resulting from breaches of their fiduciary duty as directors, except to the extent
such limitation on or exemption from liability is not permitted under the DGCL. The effect of this provision of our amended and
restated certificate of incorporation is to eliminate our rights and those of our stockholders (through stockholders' derivative
suits on our behalf) to recover monetary damages against a director for breach of the fiduciary duty of care as a director, including
breaches resulting from negligent or grossly negligent behavior, except, as restricted by Section 102(b)(7) of the DGCL. However,
this provision does not limit or eliminate our rights or the rights of any stockholder to seek 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 amended and restated certificate
of incorporation, the liability of our directors to us or our stockholders will be eliminated or limited to the fullest extent
authorized by the DGCL, as so amended. Any repeal or amendment of provisions of our amended and restated certificate of incorporation
limiting or eliminating the liability of directors, whether by our stockholders or by changes in law, or the adoption of any other
provisions inconsistent therewith, will (unless otherwise required by law) be prospective only, except to the extent such amendment
or change in law permits us to further limit or eliminate the liability of directors on a retroactive basis.
II-
3
Our amended and restated certificate of
incorporation will also provide that we will, to the fullest extent authorized or permitted by applicable law, indemnify our current
and former officers and directors, as well as those persons who, while directors or officers of our corporation, are or were serving
as directors, officers, employees or agents of another entity, trust or other enterprise, including service with respect to an
employee benefit plan, in connection with any threatened, pending or completed proceeding, whether civil, criminal, administrative
or investigative, against all expense, liability and loss (including, without limitation, 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 amended and restated certificate of incorporation will be indemnified by us in connection
with a proceeding initiated by such person only if such proceeding was authorized by our board of directors, except for proceedings
to enforce rights to indemnification.
The right to indemnification which will
be conferred by our amended and restated certificate of incorporation is a contract right that includes the right to be paid by
us the expenses incurred in defending or otherwise participating in any proceeding referenced above in advance of its final disposition,
provided, however, that if the DGCL requires, an advancement of expenses incurred by our officer or director (solely in the capacity
as an officer or director of our corporation) will be made only upon delivery to us of an undertaking, by or on behalf of such
officer or director, to repay all amounts so advanced if it is ultimately determined that such person is not entitled to be indemnified
for such expenses under our amended and restated certificate of incorporation or otherwise.
The rights to indemnification and advancement
of expenses will not be deemed exclusive of any other rights which any person covered by our amended and restated certificate
of incorporation may have or hereafter acquire under law, our amended and restated certificate of incorporation, our bylaws, an
agreement, vote of stockholders or disinterested directors, or otherwise.
Any repeal or amendment of provisions of
our amended and restated certificate of incorporation affecting indemnification rights, whether by our stockholders or by changes
in law, or the adoption of any other provisions inconsistent therewith, will (unless otherwise required by law) be prospective
only, except to the extent such amendment or change in law permits us to provide broader indemnification rights on a retroactive
basis, and will not in any way diminish or adversely affect any right or protection existing at the time of such repeal or amendment
or adoption of such inconsistent provision with respect to any act or omission occurring prior to such repeal or amendment or
adoption of such inconsistent provision. Our amended and restated certificate of incorporation will also permit us, to the extent
and in the manner authorized or permitted by law, to indemnify and to advance expenses to persons other that those specifically
covered by our amended and restated certificate of incorporation.
Our bylaws, 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 which will be set forth in our amended and restated certificate of incorporation. In addition, our bylaws provide for
a right of indemnity to bring a suit in the event a claim for indemnification or advancement of expenses is not paid in full by
us within a specified period of time. Our bylaws also permit us to purchase and maintain insurance, at our expense, to protect
us and/or any director, officer, employee or agent of our corporation or another entity, trust or other enterprise against any
expense, liability or loss, whether or not we would have the power to indemnify such person against such expense, liability or
loss under the DGCL.
Any repeal or amendment of provisions of
our bylaws affecting indemnification rights, whether by our board of directors, stockholders or by changes in applicable law,
or the adoption of any other provisions inconsistent therewith, will (unless otherwise required by law) be prospective only, except
to the extent such amendment or change in law permits us to provide broader indemnification rights on a retroactive basis, and
will not in any way diminish or adversely affect any right or protection existing thereunder with respect to any act or omission
occurring prior to such repeal or amendment or adoption of such inconsistent provision.
We will enter into indemnification agreements
with each of our officers and directors a form of which is to be filed as an exhibit to this Registration Statement. These agreements
will require us to indemnify these individuals to the fullest extent permitted under Delaware law against liabilities that may
arise by reason of their service to us, and to advance expenses incurred as a result of any proceeding against them as to which
they could be indemnified.
Pursuant to the Underwriting Agreement to
be filed as Exhibit 1.1 to this Registration Statement, we have agreed to indemnify the underwriters and the underwriters have
agreed to indemnify us against certain civil liabilities that may be incurred in connection with this offering, including certain
liabilities under the Securities Act.
Item 15. Recent Sales of Unregistered Securities.
In July 2020, our sponsor purchased 3,593,750
founder shares for an aggregate purchase price of $25,000, or approximately $0.007 per share. The number of founder shares issued
was determined based on the expectation that the founder shares would represent 20% of the outstanding shares of common stock
upon completion of this offering. Such securities were issued in connection with our organization pursuant to the exemption from
registration contained in Section 4(a)(2) of the Securities Act. Our sponsor is an accredited investor for purposes of Rule 501
of Regulation D.
In addition, our sponsor has committed,
pursuant to a written agreement, to purchase from us an aggregate of 4,250,000 private placement warrants (or 4,625,000 private
placement warrants if the over-allotment option is exercised in full) at a price of $1.00 per warrant ($4,250,000 in the aggregate,
or $4,625,000 if the over-allotment option is exercised in full). This purchase will take place on a private placement basis simultaneously
with the completion of our initial public offering. This issuance will be made pursuant to the exemption from registration contained
in Section 4(a)(2) of the Securities Act.
Item 16. Exhibits and Financial Statement Schedules.
(a)
Exhibits.
The
                                         list of exhibits preceding the signature page of this registration statement is incorporated
                                         herein by reference.
(b)
Financial
                                         Statements.
See page F-1 for an index to the financial statements
                                         and schedules included in the registration statement.
Item 17. Undertakings.
(a)
The
                                         undersigned registrant hereby undertakes to provide to the underwriters at the closing
                                         specified in the underwriting agreements, certificates in such denominations and registered
                                         in such names as required by the underwriters to permit prompt delivery to each purchaser.
(b)
Insofar
                                         as indemnification for liabilities arising under the Securities Act 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.
(c)
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.
(3)
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.
(4)
For the
                                         purpose of determining liability of a registrant under the Securities Act of 1933 to
                                         any purchaser in the initial distribution of the securities, the undersigned registrant
                                         undertakes that in a primary offering of securities of an undersigned registrant pursuant
                                         to this registration statement, regardless of the underwriting method used to sell the
                                         securities to the purchaser, if the securities are offered or sold to such purchaser
                                         by means of any of the following communications, the undersigned registrant will be a
                                         seller to the purchaser and will be considered to offer or sell such securities to such
                                         purchaser:
(i)
Any
                                         preliminary prospectus or prospectus of the undersigned registrant relating to the offering
                                         required to be filed pursuant to Rule 424;
(ii)
Any
                                         free writing prospectus relating to the offering prepared by or on behalf of the undersigned
                                         registrant or used or referred to by an undersigned registrant;
(iii)
The
                                         portion of any other free writing prospectus relating to the offering containing material
                                         information about the undersigned registrant or its securities provided by or on behalf
                                         of the undersigned registrant; and
(iv)
Any
                                         other communication that is an offer in the offering made by the undersigned registrant
                                         to the purchaser.
EXHIBIT INDEX
Exhibit
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*
4.1
Specimen Unit Certificate**
4.2
Specimen Class A Common Stock Certificate**
4.3
Specimen Warrant Certificate**
4.4
Form of Warrant Agreement between Continental Stock Transfer & Trust Company, LLC and
    the Registrant**
5.1
Opinion of Ellenoff Grossman & Schole LLP**
10.1
Form of Letter Agreement among the Registrant and our officers, directors and Seaport Global
    SPAC, LLC**
10.2
Promissory Note, dated July 24, 2020, issued to Seaport
    Global SPAC, LLC*
10.3
Form of Investment Management Trust Agreement between Continental Stock Transfer & Trust
    Company, LLC and the Registrant**
10.4
Form of Registration and Shareholder Rights Agreement between the Registrant and certain
    security holders**
10.5
Securities Subscription Agreement, dated July 24, 2020,
    between the Registrant and Seaport Global SPAC, LLC*
10.6
Form of Private Placement Warrants Purchase Agreement between the Registrant and Seaport
    Global SPAC, LLC**
10.7
Form of Indemnity Agreement**
10.8
Form of Administrative Support Agreement by and between the Registrant and Seaport Global
    SPAC, LLC**
14
Form of Code of Ethics**
23.1
Consent of Marcum LLP*
23.2
Consent of Ellenoff Grossman & Schole LLP (included in Exhibit 5.1)**
24
Power of Attorney (included on signature page)*
99.1
Form of Audit Committee Charter**
99.2
Form of Compensation Committee Charter**
99.3
Consent of Jay Burnham.*
99.4
Consent of Shelley Greenhaus.*
99.5
Consent of Jeremy Hedberg.*
99.6
Consent of Charles Yamarone. *
*        Filed
herewith
**      To
be filed by amendment
SIGNATURES
Pursuant to the requirements of the Securities
Act of 1933, as amended, the registrant has duly caused this Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of New York, State of New York, on the 13th day of October, 2020.
Seaport Global Acquisition Corp.
By:
/s/ Stephen C. Smith
Stephen C. Smith
Chief Executive Officer
KNOW ALL MEN BY THESE PRESENTS, that each
person whose signature appears below constitutes and appoints Stephen C. Smith his true and lawful attorney-in-fact, with full
power of substitution and resubstitution for him and in his 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 SEC, 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, as amended, this Registration Statement has been signed below by the following persons in the capacities and on the
dates indicated.
Name
Position
Date
/s/ Stephen C. Smith
Chief Executive Officer
    and
October
    13, 2020
Stephen C. Smith
Chairman of the Board (Principal Executive Officer)
/s/ Michael Ring
Chief Financial Officer
October
    13, 2020
Michael Ring
(Principal Financial and Accounting Officer)