Vote and Share Conversion Sample Clauses

Vote and Share Conversion. With respect to the Business Combination Vote, the Company shall use its reasonable best efforts to cause all of the Initial Shareholders to vote the Ordinary Shares owned by them immediately prior to this Offering in accordance with the majority of the IPO Shares. In addition, the Company shall use its reasonable best efforts to cause the Initial Shareholders to vote Ordinary Shares they acquire in the IPO or in the aftermarket in favor of the Business Combination. At the time the Company seeks approval of any potential Business Combination, the Company will offer each of the holders of the Company’s Ordinary Shares issued in this Offering (“IPO Shares”) the right to convert their IPO Shares at a per share price equal to $8.00 (“Conversion Price”). If holders of less than 35.0% of the total number of IPO Shares vote against such approval of a Business Combination, the Company may, but will not be required to, proceed with such Business Combination. If the Company elects to so proceed, it will convert shares, based upon the Conversion Price, from those holders of IPO Shares who affirmatively requested such conversion and who voted against the Business Combination. If holders of 35.0% or more in interest of the IPO Shares vote against approval of any potential Business Combination, the Company will not proceed with such Business Combination and will not convert such shares. Only holders of IPO Shares shall be entitled to receive liquidating distributions and the Company shall pay no liquidating distributions with respect to any other shares of capital stock of the Company.