Common use of Warrant Offering Clause in Contracts

Warrant Offering. Simultaneously with the Closing Date, the Company will issue and sell pursuant to Subscription Agreements (as defined in Section 2.25.2 hereof) (the “Warrant Offering”) an aggregate of 2,642,856 warrants (the “Warrant Offering Warrants”). The Warrant Offering Warrants and the Ordinary Shares issuable upon exercise of the Warrant Offering Warrants are hereinafter referred to as the “Warrant Offering Securities.” The Warrant Offering Warrants shall consist of 1,500,000 Warrant Offering Warrants (the “Insider Warrants”) and 1,142,856 Warrant Offering Warrants (the “EBC/Third Party Warrants”). The Insider Warrants and the Ordinary Shares issuable upon exercise of the Insider Warrants are hereinafter referred to as the “Insider Securities.” The EBC/Third Party Warrants and the Ordinary Shares issuable upon exercise of the EBC/Third Party Warrants are hereinafter referred to as the “EBC/Third Party Securities.” No underwriting discounts, commissions or placement fees have been or will be payable in connection with the Warrant Offering. None of the Warrant Offering Securities may be sold, assigned or transferred (except to their permitted transferees) by the initial holders thereof until the consummation of a Business Combination or the liquidation of the Trust Account if the Company is unable to consummate a Business Combination by the Termination Date.