Common use of Share Redemption Clause in Contracts

Share Redemption. If and to the extent that the Underwriters do not exercise in full their over-allotment option prior to the expiration or termination of such over-allotment option, the Company shall redeem, at cost, up to 3,000,000 Units sold pursuant to the Unit Subscription Agreement (“Sponsor Units”) from the holders thereof on a pro rata basis in an amount sufficient to cause the number of shares of Common Stock underlying the outstanding Sponsor Units held by the Initial Stockholders and their permitted transferees to equal 20% of the Company’s then-outstanding Common Stock after giving effect to the initial public offering (without giving effect to any Units purchased by the Initial Stockholders or any such transferees in the initial public offering) and the exercise, if any, of the Underwriters’ over-allotment option. The Company shall give effect to this mandatory redemption of Sponsor Units within 10 Business Days following the earlier to occur of the expiration or termination of the Underwriters’ over-allotment option. If the Underwriters exercise their over-allotment option in full, the Company shall have no right or obligation to redeem any of the Sponsor Units.

Share Redemption. If and to the extent that the Underwriters do not exercise in full their over-allotment option prior to the expiration or termination of such over-allotment option, the Company shall redeem, at cost, up to 3,000,000 2,812,500 Units sold pursuant to the Unit Subscription Agreement (“Sponsor Units”) from the holders thereof on a pro rata basis in an amount sufficient to cause the number of shares of Common Stock underlying the outstanding Sponsor Units held by the Initial Stockholders and their permitted transferees to equal 20% of the Company’s then-outstanding Common Stock after giving effect to the initial public offering (without giving effect to any Units purchased by the Initial Stockholders or any such transferees in the initial public offering) and the exercise, if any, of the Underwriters’ over-allotment option. The Company shall give effect to this mandatory redemption of Sponsor Units within 10 Business Days following the earlier to occur of the expiration or termination of the Underwriters’ over-allotment option. If the Underwriters exercise their over-allotment option in full, the Company shall have no right or obligation to redeem any of the Sponsor Units.

Share Redemption. If and to the extent that the Underwriters do not exercise in full their over-allotment option prior to the expiration or termination of such over-allotment option, the Company shall redeem, at cost, up to 3,000,000 2,812,500 Units sold pursuant to the Unit Subscription Agreement (“Sponsor Units”) from the holders thereof on a pro rata basis in an amount sufficient to cause the number of shares of Common Stock underlying the outstanding Sponsor Units held by the Initial Stockholders each purchaser and their its permitted transferees to equal 20% of the Company’s then-outstanding Common Stock after giving effect to the initial public offering (without giving effect to any Units purchased by the Initial Stockholders purchaser or any such transferees in the initial public offering) and the exercise, if any, of the Underwriters’ over-allotment option. The Company shall give effect to this mandatory redemption of Sponsor Units within 10 Business Days business days following the earlier to occur of the expiration or termination of the Underwriters’ over-allotment option. If the Underwriters exercise their over-allotment option in full, the Company shall have no right or obligation to redeem any of the Sponsor Units.