<SEC-DOCUMENT>0001104659-24-098232.txt : 20241001
<SEC-HEADER>0001104659-24-098232.hdr.sgml : 20241001
<ACCEPTANCE-DATETIME>20240909172637
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001104659-24-098232
CONFORMED SUBMISSION TYPE:	DRS/A
PUBLIC DOCUMENT COUNT:		18
FILED AS OF DATE:		20240909
<PUBLIC-REL-DATE>20241001
DATE AS OF CHANGE:		20240909

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SPAC III Acquisition Corp.
		CENTRAL INDEX KEY:			0001890361
		STANDARD INDUSTRIAL CLASSIFICATION:	BLANK CHECKS [6770]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D8

	FILING VALUES:
		FORM TYPE:		DRS/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	377-05672
		FILM NUMBER:		241288102

	BUSINESS ADDRESS:	
		STREET 1:		58/F, CHEUNG KONG CENTER
		STREET 2:		2 QUEENS ROAD CENTRAL
		CITY:			CENTRAL
		STATE:			K3
		ZIP:			00000
		BUSINESS PHONE:		852 9258 9728

	MAIL ADDRESS:	
		STREET 1:		58/F, CHEUNG KONG CENTER
		STREET 2:		2 QUEENS ROAD CENTRAL
		CITY:			CENTRAL
		STATE:			K3
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>DRS/A
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>This draft registration statement is being
submitted confidentially to the U.S. Securities and Exchange<BR>
Commission on September [9], 2024 and is not being publicly filed under the Securities Act of 1933, as amended.</B> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B></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-align: right; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Registration
No.&nbsp;333-</B></FONT>[<FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT>]</P>

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; 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 0; text-align: right; text-indent: 0.25in">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</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-align: center"><B>Form&nbsp;S-1/A&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> <B>(Amendment No.&nbsp;2)&nbsp;</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>REGISTRATION STATEMENT&nbsp;</B></P>

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

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

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

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>A SPAC III Acquisition Corp.&nbsp;</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: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: bottom; width: 32%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>British Virgin
    Islands</B></FONT></TD>
    <TD STYLE="text-align: center; width: 2%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 32%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>6770</B></FONT></TD>
    <TD STYLE="text-align: center; width: 2%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 32%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>N/A</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="vertical-align: bottom; 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="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; 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="text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; 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: 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">The Sun&rsquo;s Group Center,<BR>
29th Floor, 200 Gloucester Road,<BR>
Wan Chai</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Hong Kong<BR>
<B>Telephone</B>: +852 9258 9728&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address, including zip code, and telephone number,
including area code, of registrant&rsquo;s principal executive offices)</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: center">The Sun&rsquo;s Group Center,<BR>
29th Floor, 200 Gloucester Road,<BR>
Wan Chai</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Telephone</B></FONT>:
+852 9258 9728</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Giovanni Caruso<BR>
    Loeb&nbsp;&amp; Loeb LLP</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>345 Park Avenue</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>New York, NY 10154<BR>
    (212) 407-4000</B></P></TD>
    <TD STYLE="width: 50%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Barry Grossman, Esq.<BR>
Lijia Sanchez, Esq.<BR>
Ellenoff Grossman &amp; Schole LLP<BR>
1345 Avenue of the Americas<BR>
New York, NY 10105<BR>
(212) 370-1300 </B></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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Approximate
date of commencement of proposed sale to the public:</B></FONT>&nbsp;As soon as practicable after the effective date of this registration
statement.</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; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.&#8239;</FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#120;</FONT></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; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
this Form&nbsp;is filed to register additional securities for an offering pursuant to Rule&nbsp;462(b)&nbsp;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.&#8239;</FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></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; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
this Form&nbsp;is a post-effective amendment filed pursuant to Rule&nbsp;462(c)&nbsp;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.&#8239;</FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></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; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
this Form&nbsp;is a post-effective amendment filed pursuant to Rule&nbsp;462(d)&nbsp;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.&#8239;</FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></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; text-indent: 0.25in">Indicate by check mark whether
the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, 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.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Large accelerated filer&#8239;&#8239;</FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accelerated filer&#8239;&#8239;</FONT><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&#8239;&#8239;</FONT><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&#8239;&#8239;</FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#120;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Emerging growth company &#8239;</FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#120;</FONT></TD></TR>
  </TABLE>
<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; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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)&nbsp;of the Securities Act.&#8239;</FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></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; text-indent: 0.25in"><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)&nbsp;of
the Securities Acts 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: 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: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; 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="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; color: red"><B>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.</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-align: center; color: red"> <B>SUBJECT TO COMPLETION, DATED
SEPTEMBER [9], 2024</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; color: red"><B>PRELIMINARY PROSPECTUS</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-align: center"><B>$55,000,000</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>A SPAC III Acquisition Corp.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>5,500,000 Units</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-align: justify; text-indent: 0.25in">A SPAC III Acquisition Corp.
is a blank check company incorporated as a BVI business company and incorporated for the purpose of effecting a merger, share exchange,
asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout
this prospectus as our initial business combination. Although there is no restriction or limitation on what industry or geographic region
our target operates in, it is our intention to pursue prospective targets that are in the Environmental, Sustainability and Governance
(ESG) and material technology sector, which we believe have an optimistic growth trajectory for the coming years. We also intend to focus
on prospective target businesses that have potential for revenue growth and/or operating margin expansion with recurring revenue and
cash flow, and strong market positions within their industries. We will primarily seek to acquire one or more businesses with a total
enterprise value of between $100,000,000 and $600,000,000. At the time of preparing this prospectus, we do not have any specific business
combination under consideration or contemplation, and we have not, nor has anyone on our behalf, contacted any prospective target business
or had any discussions, formal or otherwise, with respect to such a transaction. Our efforts to date are limited to organizational activities
related to 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"></P>

<!-- Field: Page; Sequence: 2 -->
    <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="break-before: page; 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: justify; text-indent: 0.25in">This is an initial public
offering of our securities. Each unit has an offering price of $10.00 and consists of one of our Class&nbsp;A ordinary shares and one
right as described in more detail in this prospectus. Each right entitles the holder thereof to receive one-fourth (1/4) of one Class&nbsp;A
ordinary share upon consummation of our initial business combination, so you must hold rights in multiples of 4 in order to receive shares
for all of your rights upon closing of a business combination. We will not issue fractional shares in connection with an exchange of
rights. Fractional shares will either be rounded down to the nearest whole share or otherwise addressed in accordance with the applicable
provisions of British Virgin Islands law. We have also granted the underwriter a 45-day option to purchase up to 825,000 additional units
to cover over-allotments, if any.</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; text-indent: 0.25in"> We will provide our public
shareholders with the opportunity to redeem all or a portion of their Class&nbsp;A ordinary shares (up to an aggregate of 15% of the
shares sold in this offering, as described in more detail in this prospectus) 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 described below as of two business
days prior to the consummation of our initial business combination, including interest (which interest shall be net of taxes payable)
divided by the number of then issued and outstanding Class&nbsp;A ordinary shares that were sold as part of the units in this offering,
which we refer to collectively as our public shares, subject to the limitations and on the conditions described herein. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> We will have until
12 months from the closing of this offering to consummate an initial business combination. However, if we anticipate that we may not
be able to consummate our initial business combination within 12 months, we may extend the period of time to consummate a business
combination up to two times, each by an additional three months (for a total of up to 18 months to complete a business combination).
The aforementioned extensions do not require shareholder approval. Pursuant to the terms of our amended and restated memorandum and
articles of association and the trust agreement to be entered into between us and Continental Stock Transfer &amp; Trust Company on
the date of this prospectus, in order to extend the time available for us to consummate our initial business combination, our
sponsor or its affiliates or designees, upon two days advance notice prior to the applicable deadline, must deposit into the trust
account $550,000, or up to $632,500 if the underwriters over-allotment option is exercised in full ($0.10 per share in either case)
on or prior to the date of the applicable deadline, for each three month extension (or up to an aggregate of $1,100,000 (or $
1,265,000 if the underwriters over-allotment option is exercised in full), or $0.20 per share if we extend for the full six months).
Any such payments would be made in the form of a loan. Any such loans will be non-interest bearing and payable upon the consummation
of our initial business combination. If we complete our initial business combination, we would repay such loaned amounts out of the
proceeds of the trust account released to us. If we do not complete a business combination, we will not repay such loans.
Furthermore, the letter agreement with our initial shareholder contains a provision pursuant to which our sponsor has agreed to
waive its right to be repaid for such loans out of the funds held in the trust account in the event that we do not complete a
business combination. Our sponsor and its affiliates or designees are not obligated to fund the trust account to extend the time for
us to complete our initial business combination. However, we may hold a shareholder vote at any time to amend our amended and
restated memorandum and articles of association, to modify the amount of time we will have to consummate an initial business
combination (as well as to modify the substance or timing of our obligation to redeem 100% of our public shares or with respect to
any other material provisions relating to shareholders&rsquo; rights or pre-initial business combination activity). </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Our sponsor, A SPAC III
(Holdings) Corp., a British Virgin Islands company, its affiliates and promoters have agreed to purchase an aggregate of 280,000 units
(or 288,250 units if the over-allotment option is exercised in full) at a price of $10.00 per unit for an aggregate purchase price of&nbsp;$2,800,000
(or $2,882,500 if the over-allotment option is exercised in full). Each private placement unit will be identical to the units sold in
this offering, except as described in this prospectus. The private placement units will be sold in a private placement that will close
simultaneously with the closing of this offering, including the over-allotment option, as applicable. We refer to these units throughout
this prospectus as private placement units.&nbsp; </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Prior to this offering,
our sponsor held directly or indirectly, 1,581,250 Class&nbsp;B ordinary shares, or founder shares (up to 206,250 of which are subject
to forfeiture depending on the extent to which the underwriters&rsquo; over-allotment option is exercised) which were purchased for $25,000.
The Class&nbsp;B ordinary shares will automatically convert into Class&nbsp;A ordinary shares at the time of our initial business combination,
or earlier at the option of the holder, on a one-for-one basis, subject to adjustment as described adjacent to the caption &ldquo;<B><I>Founder
shares conversion and anti-dilution</I></B>&rdquo; and may result in a material dilution to the equity interests of the Class A ordinary
shareholders. Class&nbsp;A ordinary shareholders and Class&nbsp;B ordinary shareholders of record are entitled to one vote for each share
held on all matters to be voted on by shareholders and vote together as a single class, except as required by law; provided that, for
so long as any Class&nbsp;B ordinary shares are outstanding, holders of our Class&nbsp;B ordinary shares will have the right to elect
all of our directors prior to our initial business combination and holders of our Class&nbsp;A ordinary shares will not be entitled to
vote on the election of directors during such time. In addition, if our sponsor makes any working capital loans, up to $1,150,000 of
such loans may be converted into units, at the price of $10.00 per unit at the option of the lender. Such units would be identical to
the private placement units. <I>See the Section&nbsp;entitled &ldquo;Dilution&rdquo; of this prospectus for additional information.</I> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> The amount of compensation that may be received by our sponsor
and its affiliates is summarized as follows: </P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 28%; border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.4pt 5pt"> <FONT STYLE="font-size: 10pt"><B>Entity/Individual</B></FONT> </TD>
    <TD STYLE="width: 1%; padding: 0.25pt"> &nbsp; </TD>
    <TD STYLE="width: 37%; border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: center"> <B>Amount of Compensation to be
    </B> </P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: center"> <B>Received or Securities Issued
    or to </B> </P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: center"> <B>be Issued</B> </P></TD>
    <TD STYLE="width: 1%; padding: 0.25pt"> &nbsp; </TD>
    <TD STYLE="width: 33%; border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.4pt 5pt; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Consideration
    Paid or to be Paid</B></FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="padding: 0.25pt 0.25pt 0.25pt 5pt"> <FONT STYLE="font-size: 10pt">A SPAC III (Holdings) Corp.</FONT> </TD>
    <TD STYLE="padding: 0.25pt"> &nbsp; </TD>
    <TD STYLE="padding: 0.25pt 0.25pt 0.25pt 5pt"> <FONT STYLE="font-size: 10pt">1,375,000 Class B Ordinary&nbsp;shares<SUP>(1)</SUP></FONT> </TD>
    <TD STYLE="padding: 0.25pt"> &nbsp; </TD>
    <TD STYLE="padding: 0.25pt 0.25pt 0.25pt 5pt"> <FONT STYLE="font-size: 10pt">$25,000</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt"> &nbsp; </TD>
    <TD STYLE="padding: 0.25pt 0.25pt 0.25pt 5pt"> <FONT STYLE="font-size: 10pt">280,000 Private&nbsp;Placement Units<SUP>(1)</SUP></FONT> </TD>
    <TD STYLE="padding: 0.25pt"> &nbsp; </TD>
    <TD STYLE="padding: 0.25pt 0.25pt 0.25pt 5pt"> <FONT STYLE="font-size: 10pt">$2,800,000</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="4" STYLE="padding: 0.25pt"> &nbsp; </TD>
    <TD STYLE="padding: 0.25pt"> &nbsp; </TD>
    <TD STYLE="padding: 0.25pt 0.25pt 0.25pt 5pt"> <FONT STYLE="font-size: 10pt">Up to $350,000</FONT> </TD>
    <TD STYLE="padding: 0.25pt"> &nbsp; </TD>
    <TD STYLE="padding: 0.25pt 0.25pt 0.25pt 5pt"> <FONT STYLE="font-size: 10pt">Repayment of loans&nbsp;made to us by our sponsor
    to cover offering-related and organizational expenses.</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt"> &nbsp; </TD>
    <TD STYLE="padding: 0.25pt 0.25pt 0.25pt 5pt"> <FONT STYLE="font-size: 10pt">Up to $1,150,000 in working capital loans may be convertible
    into private units at a price of $10.00 per unit </FONT> </TD>
    <TD STYLE="padding: 0.25pt"> &nbsp; </TD>
    <TD STYLE="padding: 0.25pt 0.25pt 0.25pt 5pt"> <FONT STYLE="font-size: 10pt">Working capital loans to finance transaction costs
    in connection with an intended initial business combination.</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt"> &nbsp; </TD>
    <TD STYLE="padding: 0.25pt 0.25pt 0.25pt 5pt"> <FONT STYLE="font-size: 10pt">Reimbursement for any out-of-pocket expenses related
    to identifying, investigating and completing an initial business combination</FONT> </TD>
    <TD STYLE="padding: 0.25pt"> &nbsp; </TD>
    <TD STYLE="padding: 0.25pt 0.25pt 0.25pt 5pt"> <FONT STYLE="font-size: 10pt">Services in connection with identifying, investigating
    and completing an initial business combination.</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt"> &nbsp; </TD>
    <TD STYLE="padding: 0.25pt 0.25pt 0.25pt 5pt"> &nbsp; </TD>
    <TD STYLE="padding: 0.25pt"> &nbsp; </TD>
    <TD STYLE="padding: 0.25pt 0.25pt 0.25pt 5pt"> &nbsp; </TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt 0pt 33pt; text-align: justify; text-indent: -24pt">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="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 9pt 0pt 33pt; text-align: justify; text-indent: -24pt"></P>




<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding: 0.25pt"> <FONT STYLE="font-size: 10pt">(1)</FONT> </TD>
    <TD STYLE="width: 95%; padding: 0.25pt"> <FONT STYLE="font-size: 10pt">Assumes no exercise of the over-allotment option and the
    full forfeiture of 206,250 shares that are subject to forfeiture by our initial shareholders depending on the extent to which the
    underwriters&rsquo; over-allotment option is exercised.</FONT> </TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt"></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="break-before: page; 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 9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> The low price that our
sponsor, executive officers and directors (directly or indirectly) paid for the founder shares creates an incentive whereby our officers
and directors could potentially make a substantial profit even if we select an acquisition target that subsequently declines in value
and is unprofitable for public shareholders. If we are unable to complete our initial business combination within the completion window,
or by such earlier liquidation date as our board of directors may approve, the founder shares, private shares and private warrants will
be worthless, except to the extent they receive liquidating distributions from assets outside the trust account. Additionally, we will
repay up to $350,000 in loans made to us by our sponsor to cover offering-related and organizational expenses. We will repay any loans
which may be made by our sponsor or an affiliate of our sponsor or certain of our directors and officers to finance transaction costs
in connection with an intended initial business combination; up to $1,150,000 of such loans may be convertible into private units at
a price of $10.00 per unit at the option of the lender. Upon consummation of this offering, we will also reimburse our sponsor, directors
or officers, or our or any of their respective affiliates for any out-of-pocket expenses related to identifying, investigating and completing
an initial business combination. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Our sponsor, its affiliates,
or promoters and members of our management team will directly or indirectly own ordinary shares, or other instruments, such as rights,
linked to our private placement units, 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 was included by a target business as a condition to any agreement with respect to our
initial business combination. We are not prohibited from pursuing an initial business combination with a company that is affiliated with
our sponsor, officers or directors, or completing the 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 a target that is affiliated
with our sponsor, officers or directors, we, or a committee of independent directors, would obtain an opinion from an independent firm
that commonly renders valuation opinions, independent accounting firm or independent investment banking firm that our 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-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> There may be potential
material conflicts of interest between the SPAC sponsor, its affiliates, or promoters and the purchasers in this offering.&nbsp;Our sponsor,
along with its affiliates, promoters, officers, and directors, currently participate, and may in the future participate, in the formation
or sponsorship of other special purpose acquisition companies (&ldquo;SPACs&rdquo;) similar to ours, or engage in other business or investment
ventures during our pursuit of an initial business combination. Despite these activities, our officers and directors will maintain their
existing fiduciary duty to us, and we will retain priority over any subsequent SPACs or ventures they may join. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> For a description of
risks associated with compensation and material conflicts of interests of our sponsor, its affiliates, or promoters, see <I>&ldquo;<B>Principal
Shareholders</B>,&rdquo; &ldquo;<B>Risk Factors - Risks Relating to our Sponsor, Management and Director Team</B>&rdquo;, &ldquo;<B>Risk
Factors - Risks Relating to our Search for, and Consummation of or Inability to Consummate, a Business Combination,</B>&rdquo; &ldquo;<B>Risks
Relating to our Sponsor, Management and Director Team,</B>&rdquo; &ldquo;<B>Risk Factors - Risks Related to Our Securities and This Offering,</B>&rdquo;,
 &ldquo;<B>Management &mdash; Directors and Officers</B>,&rdquo; &ldquo;<B>Management &mdash; Conflicts of Interest,</B>&rdquo; <B>&ldquo;Potential
Conflicts,&rdquo; &ldquo;The Offering &ndash; Conflicts of Interest&rdquo;</B> &ldquo;<B>Certain Relationships and Related Party Transactions,</B>&rdquo;
 &ldquo;<B>Proposed Business &ndash; Other Acquisition Considerations</B>;&rdquo; </I>and <I>&ldquo;<B>British Virgin Islands Company
Considerations &ndash; Directors and Conflicts of Interest</B>&rdquo; </I>for further information<I>.</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"></P>

<!-- Field: Page; Sequence: 4 -->
    <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="break-before: page; 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">The following table illustrates our net tangible book value per share
at the specified redemption levels:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: italic bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="14" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Without Over-Allotment Option Exercised</TD><TD STYLE="padding-bottom: 1pt; font: italic 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: italic bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: italic 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><I>Scenario A<BR> 25%<BR> redemptions<SUP>(1)</SUP></I></B></FONT></TD><TD STYLE="padding-bottom: 1pt; font: italic bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: italic 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><I>Scenario B<BR> 50%<BR> redemptions<SUP>(2)</SUP></I></B></FONT></TD><TD STYLE="padding-bottom: 1pt; font: italic bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: italic 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><I>Scenario C<BR> 75%<BR> redemptions<SUP>(3)</SUP></I></B></FONT></TD><TD STYLE="padding-bottom: 1pt; font: italic bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: italic 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><I>Scenario D<BR> Maximum<BR> redemptions<SUP>(4)</SUP></I></B></FONT></TD><TD STYLE="padding-bottom: 1pt; font: italic bold 10pt Times New Roman, Times, Serif">&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">Offering price of $10.00 included in the units (adjusted to include the value of the rights)</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">8.00</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">$</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">8.00</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">8.00</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">8.00</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; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt">Pro forma net tangible book value per&nbsp;share, as adjusted</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">5.80</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">5.01</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">3.75</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">1.47</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; text-indent: -10pt; padding-left: 10pt">Dilution to public shareholders</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">2.20</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">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">2.99</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">4.25</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">6.53</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">&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"></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">The numbers set forth in this column assume that 1,375,000 public
shares, or 25%, of 5,500,000 public shares are redeemed.</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: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">(2)</TD><TD STYLE="text-align: justify">The numbers set forth in this column assume that 2,750,000 public
shares, or 50%, of 5,500,000 public shares are redeemed.</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: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">(3)</TD><TD STYLE="text-align: justify">The numbers set forth in this column assume that 4,125,000 public
shares, or 75%, of 5,500,000 public shares are redeemed.</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: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">(4)</TD><TD STYLE="text-align: justify">The numbers set forth in this column assume that 5,500,000 public
shares, or 100%, of 5,500,000 public shares are redeemed.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: italic bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="14" STYLE="font: italic bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">With Over-Allotment Option Exercised</TD><TD STYLE="padding-bottom: 1pt; font: italic 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: italic bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: italic 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><I>Scenario A <BR> 25% <BR> redemptions<SUP>(1)</SUP></I></B></FONT></TD><TD STYLE="padding-bottom: 1pt; font: italic bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: italic 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><I>Scenario B <BR> 50% <BR> redemptions<SUP>(2)</SUP></I></B></FONT></TD><TD STYLE="padding-bottom: 1pt; font: italic bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: italic 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><I>Scenario C <BR> 75% <BR> redemptions<SUP>(3)</SUP></I></B></FONT></TD><TD STYLE="padding-bottom: 1pt; font: italic bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: italic bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: italic 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><I>Scenario D <BR> Maximum <BR> redemptions<SUP>(4)</SUP></I></B></FONT></TD><TD STYLE="padding-bottom: 1pt; font: italic bold 10pt Times New Roman, Times, Serif">&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">Offering price of $10.00 included in the units (adjusted to include the value of the rights)</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">8.00</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">$</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">8.00</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">8.00</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">8.00</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; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt">Pro forma net tangible book value per&nbsp;share, as adjusted</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">5.82</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">5.02</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">3.75</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">1.43</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; text-indent: -10pt; padding-left: 10pt">Dilution to public shareholders</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">2.18</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">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">2.98</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">4.25</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">6.57</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: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></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; text-align: justify"></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">The numbers set forth in this column assume that 1,581,250 public
shares, or 25%, of 6,325,000 public shares are redeemed.</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: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">(2)</TD><TD STYLE="text-align: justify">The numbers set forth in this column assume that 3,162,500 public
shares, or 50%, of 6,325,000 public shares are redeemed.</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: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"> (3) </TD><TD STYLE="text-align: justify"> The numbers set forth
                                            in this column assume that 4,743,750 public shares, or 75%, of 6,325,000 public shares are
                                            redeemed. </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: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">(4)</TD><TD STYLE="text-align: justify">The numbers set forth in this column assume that 6,325,000 public
shares, or 100%, of 6,325,000 public shares are redeemed.</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"><I>See the Section entitled &ldquo;Dilution&rdquo; of this prospectus
for additional information.</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; text-align: justify; text-indent: 0.25in"> Prior to this offering,
there has been no public market for our securities. We have applied to list our units on the NASDAQ Capital Market, or NASDAQ, under
the symbol &ldquo;ASPCU&rdquo; on or promptly after the date of this prospectus. We cannot guarantee that our securities will be approved
for listing on NASDAQ. The Class&nbsp;A ordinary shares and rights comprising the units will begin separate trading on the 52<SUP>nd</SUP>&nbsp;day
following the date of this prospectus unless Maxim Group LLC, or Maxim, the representative of the underwriters of this offering, informs
us of its decision to allow earlier separate trading, subject to our filing a Current Report on Form&nbsp;8-K with the Securities and
Exchange Commission, or the SEC, containing an audited balance sheet reflecting our receipt of the gross proceeds of this offering. Once
the securities comprising the units begin separate trading, we expect that the Class&nbsp;A ordinary shares and rights will be listed
on NASDAQ under the symbols &ldquo;ASPC&rdquo; and &ldquo;ASPCR,&rdquo; respectively. </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; text-indent: 0.25in">As a British Virgin Islands
company with no material operations of our own, we conduct our operations through our principal executive office in Hong Kong and our
sponsor and its affiliate(s)&nbsp;as well as certain of our current executive officers and directors are located in or have significant
ties to the People's Republic of China and/or Hong Kong (collectively, the &quot;PRC&quot; or &quot;China&quot;). We are a blank check
company incorporated for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization,
reorganization or similar business combination with one or more businesses or entities. Because we are based in Hong Kong, we face various
legal and operational risks and uncertainties associated with doing business in China that are described in further detail below. In
addition, although we do not have any specific business combination under consideration and we have not, directly or indirectly, contacted
any prospective target business or had any substantive discussions, formal or otherwise, with respect to such a transaction, we may pursue
or consummate an initial business combination with a company located or doing business in the PRC. If our target company is a PRC company,
the combined company may face various legal and operational risks and uncertainties after the business combination, including, without
limitation, regulatory review of overseas listing of PRC companies, restrictions on foreign ownership in certain industries, regulatory
changes in the variable interest entity (the &quot;VIE&quot;) structure, including the validity and enforcement of the agreements in
connection with such a VIE structure, if our target company is required to use such VIE structure. We are also subject to the risks of
uncertainty about any future actions of the PRC government in this regard, or if our PRC target company fails to comply with their rules&nbsp;and
regulations. Further, if the PRC target company uses a VIE structure, we will be subject to certain legal and operational risks associated
with VIE's operations in the PRC. Specifically, if the Chinese regulatory authorities disallows the VIE structure in the future, it will
likely result in a material change in our financial performance and our results of operations and/or the value of our securities post
business combination with a PRC target, which could cause the value of our securities to significantly decline or become 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"></P>

<!-- Field: Page; Sequence: 5 -->
    <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="break-before: page; 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: justify; text-indent: 0.25in">PRC laws and regulations
are sometimes vague and uncertain, and therefore, these risks may result in a material change in our operations or the combined company&rsquo;s
principal operations in China, significant depreciation of the value of our or the combined company&rsquo;s securities, or a complete
hindrance of our or the combined company&rsquo;s ability to offer securities to investors and cause the value of such securities to significantly
decline or be worthless. The PRC government has significant authority to exert influence on the ability of a China-based company to conduct
its business, make or accept foreign investments or list on a U.S. stock exchange. The PRC government has recently published new policies
that significantly affected certain industries such as the education and internet industries, and we cannot rule&nbsp;out the possibility
that it will in the future release regulations or policies regarding any industry that could adversely affect us or our potential business
combination with a PRC operating business and the business, financial condition, and results of operations of the combined company. The
PRC government also recently initiated a series of regulatory actions and statements to regulate business operations in China with little
advance notice, including cracking down on illegal activities in the securities market, adopting new measures to extend the scope of
cybersecurity reviews, and expanding the efforts in anti-monopoly enforcement. Since these statements and regulatory actions are new,
it is highly uncertain how soon legislative or administrative regulation making bodies will respond and what existing or new laws or
regulations or detailed implementations and interpretations will be modified or promulgated, if any, and the potential impact such modified
or new laws and regulations will have on us or the PRC target company&rsquo;s daily business operation, the ability to accept foreign
investments and list on an U.S. or other foreign exchange. For example, according to the New Measures for Cybersecurity Review (the &ldquo;New
Measures&rdquo;) effective on February&nbsp;15, 2022, network platform operators with personal information of more than one million users
must apply for cybersecurity review to the Cyber Security Review Office when they go public abroad, and accordingly these companies may
not be willing to list on a U.S. stock exchange or enter into a definitive business combination agreement with us. We currently face
risks associated with regulatory approvals of the proposed business combination between us and the target, offshore offerings, anti-monopoly
regulatory actions, and cybersecurity and data privacy. The PRC government may also intervene with or influence our or the combined company&rsquo;s
operations as the government deems appropriate to further regulatory, political and societal goals. Any such action, once taken by the
PRC government, could result in a material change in our operations, including our search for a target business, and make it more difficult
and costly for us to consummate a business combination with a target business operating in China, result in material changes in the combined
company&rsquo;s post-combination operations and cause the value of our securities or those of the combined company&rsquo;s securities
to significantly decline, or in extreme cases, become worthless or completely hinder our ability or the ability of the combined company
to offer or continue to offer securities to investors. For a detailed description of risks associated with acquiring a company that does
business in China, see &ldquo;Risk Factors &mdash; Risks Associated with Acquiring and Operating a Business with its Primary Operation
in China&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; text-align: justify; text-indent: 0.25in">If we consummate our initial
business combination with a PRC target company, we may operate in the PRC primarily through our PRC subsidiaries. We may also adopt a
series of contractual arrangements with the VIEs in the PRC, in which case (i)&nbsp;the VIEs will be PRC-based operations companies and
our PRC subsidiaries will be shell companies and (ii)&nbsp;investors in our securities will not and may never directly own equity interest
in the VIEs but will instead hold equity interest in a holding company of our PRC subsidiaries. Under the VIE arrangement, the dividends
or other distributions to be paid by our PRC subsidiaries to their overseas holding company will depend on such PRC subsidiaries&rsquo;
entitlement to substantially all of the economic benefits of the VIEs, which are typically in the form of services fees or license fees
payable by the VIEs to our PRC subsidiaries under various VIE agreements. Such contractual arrangements may not be as effective as direct
ownership in respect of our relationship with the VIE and we may be adversely affected if we experience difficulties in settling the
amounts owed to our PRC subsidiaries by the VIEs. All of these contractual arrangements may be governed by and interpreted in accordance
with PRC law, and disputes arising from these contractual arrangements may be resolved in court or through arbitration in China. However,
the legal environment in the PRC is not as developed as in some other jurisdictions, such as the United States. As a result, uncertainties
in the PRC legal system could limit our ability to enforce the contractual arrangements. As at the date of this prospectus, there are
very few precedents and little official guidance as to how contractual arrangements should be interpreted or enforced under PRC law.
The contractual arrangements have not been tested in a court of law in the PRC and there remain significant uncertainties regarding the
ultimate outcome of arbitration or court decisions should legal action become necessary. See &ldquo;Risk Factors &mdash; Risks Associated
with Acquiring and Operating a Business with its Primary Operation in China &mdash; If the PRC government deems that the contractual
arrangements in relation to the potential PRC target company, and the VIE, do not comply with PRC regulatory restrictions on foreign
investment in the relevant industries, or if these regulations or the interpretation of existing regulations change in the future, we
could be subject to severe penalties or be forced to relinquish our interests in those operations&rdquo; for further 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"></P>

<!-- Field: Page; Sequence: 6 -->
    <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="break-before: page; 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: justify; text-indent: 0.25in"> Currently, we are a single
entity and do not make any internal cash transfers. However, if our organizational structure expands, or if we acquire a PRC target company
which does not require a VIE structure, we may transfer funds to the PRC target company through an increase in the registered capital
of or a shareholder loan to the PRC target company. The PRC target company may in turn make distributions or pay dividends to us. If
we acquire a PRC target company which requires a VIE structure, the post-combination entity may rely on payments made from the VIE to
a wholly foreign-owned enterprise (the &ldquo;WFOE&rdquo;) and subsequently the WFOE distributes funds to the post-combination entity
as dividends, and cash to the PRC target company could be transferred through our organization in the manner as follows: (i)&nbsp;the
holding company may transfer funds to WFOE, via additional capital contributions or shareholder loans, as the case may be; and (ii)&nbsp;the
WFOE may provide loans to the PRC target company, subject to statutory limits and restrictions. If our organizational structure expands,
or if we acquire a company based in China, to the extent that we or the combined company in the future seeks to fund the business through
distributions, dividends, or transfers of funds among and between the holding company and subsidiaries, any such transfer of funds within
and among the subsidiaries will be subject to PRC regulations. Specifically, investment in Chinese companies is governed by the PRC Foreign
Investment Law, the dividends and distributions from a PRC subsidiary are subject to regulations and restrictions on dividends and payments
to parties outside of China, and any transfer of funds among the PRC subsidiaries is subject to regulations on private lending and must
be permitted thereunder. Additionally, the PRC government may impose controls on the conversion of Renminbi into foreign currencies and
the remittance of currencies out of the PRC. In order for the combined company to pay dividends to its shareholders, the combined company
will rely on payments made from the PRC subsidiaries of the combined company and the distribution of such payments to the combined company
as dividends from the PRC subsidiaries of the combined company. The dividends and distributions from a PRC subsidiary will be subject
to regulations and restrictions on dividends and payments to parties outside of China and the combined company may experience difficulties
in completing the administrative procedures necessary to obtain and remit foreign currency for the payment of dividends from its subsidiaries,
if any. See &ldquo;Risk Factors &mdash; Risks Associated with Acquiring and Operating a Business with its Primary Operation in China
 &mdash; Governmental control of currency conversion may affect the value of your investment&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; text-align: justify; text-indent: 0.25in">Regardless of whether we
have a VIE structure or direct ownership structure post-business combination, we may depend on dividends and other distributions on equity
paid by our PRC subsidiaries for our cash and financing requirements. As at the date of this prospectus, we have not made any dividends
or distributions to our shareholders or any U.S. investors and we have not made any cash transfers as we are a blank check company with
no subsidiary. Due to (i)&nbsp;the risks of doing business in the PRC, and (ii)&nbsp;our sponsor and its affiliate(s)&nbsp;as well as
certain of our current executive officers and directors are located in or have significant ties to PRC, we may be a less attractive partner
to non-PRC based target companies as compared to a non-PRC based special purpose acquisition company (the &ldquo;SPAC&rdquo;) which may
therefore make it harder for us to complete an initial business combination with a target company that is non-PRC based and which may
therefore make it more likely for us to consummate a business combination with a target company located in the PRC. To date, we have
not pursued an initial business combination and there have not been any capital contribution or shareholder loans by us to any PRC entities,
we do not yet have any subsidiaries, and we have not received, declared or made any dividends or distributions. For a detailed description
of risks associated with acquiring a company that does business in China, see &ldquo;Risk Factors &mdash; Risks Associated with Acquiring
and Operating a Business with its Primary Operation in China&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; text-align: justify; text-indent: 0.25in; background-color: white">On
February&nbsp;17, 2023, the China Securities Regulatory Commission (the &ldquo;CSRC&rdquo;) promulgated the Trial Administrative Measures
of Overseas Securities Offering and Listing by Domestic Companies (the &ldquo;Trial Measures&rdquo;), which took effect on March&nbsp;31,
2023. The Trial Measures supersede prior rules&nbsp;and clarified and emphasized several aspects, which include but are not limited to:
(1)&nbsp;comprehensive determination of the &ldquo;indirect overseas offering and listing by PRC domestic companies&rdquo; in compliance
with the principle of &ldquo;substance over form&rdquo; and particularly, an issuer will be required to go through the filing procedures
under the Trial Measures if the following criteria are met at the same time: (a)&nbsp;50% or more of the issuer&rsquo;s operating revenue,
total profit, total assets or net assets as documented in its audited consolidated financial statements for the most recent accounting
year comes from PRC domestic companies, and (b)&nbsp;the main parts of the issuer&rsquo;s business activities are conducted in mainland
China, or its main places of business are located in mainland China, or the senior managers in charge of its business operation and management
are mostly Chinese citizens or domiciled in mainland China; (2)&nbsp;exemptions from immediate filing requirements for issuers that (a)&nbsp;have
already been listed or registered but not yet listed in foreign securities markets, including U.S. markets, prior to the effective date
of the Trial Measures, (b)&nbsp;are not required to re-perform the regulatory procedures with the relevant overseas regulatory authority
or the overseas stock exchange, and (c)&nbsp;whose such overseas securities offering or listing shall be completed before September&nbsp;30,
2023, provided however that such issuers shall carry out filing procedures as required if they conduct refinancing or are involved in
other circumstances that require filing with the CSRC; (3)&nbsp;a negative list of types of issuers banned from listing or offering overseas,
such as (a)&nbsp;issuers whose listing or offering overseas has been recognized by the State Council of the PRC as a possible threat
to national security, (b)&nbsp;issuers whose affiliates have been recently convicted of bribery and corruption, (c)&nbsp;issuers under
ongoing criminal investigations, and (d)&nbsp;issuers under major disputes regarding equity ownership; (4)&nbsp;issuers&rsquo; compliance
with web security, data security, and other national security laws and regulations; (5)&nbsp;issuers&rsquo; filing and reporting obligations,
such as the obligation to file with the CSRC after it submits an application for initial public offering to overseas regulators, and
the obligation after offering or listing overseas to report to the CSRC material events including a change of control or voluntary or
forced delisting of the issuer; and (6)&nbsp;the CSRC&rsquo;s authority to fine both issuers and their shareholders between 1 and 10
million RMB for failure to comply with the Trial Measures, including failure to comply with filing obligations or committing fraud and
misrepresentation.</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: 7 -->
    <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="break-before: page; 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: justify; text-indent: 0.25in; background-color: white">We
believe we are not required to obtain permissions or approvals from any PRC government authorities, including the CSRC or the Cyberspace
Administration of China, or any other government entity, to issue our securities to foreign investors and to list on a U.S. exchange
or operate our business. As of the date of this prospectus, we have not received any inquiry, notice, warning, sanctions or regulatory
objection to this offering from the CSRC or any other PRC governmental authorities. However, if we do not maintain applicable permissions
or approvals, if we inadvertently concluded that such permissions or approvals are not required, or applicable laws, regulations, or
interpretations change and we are required to obtain such permissions or approvals in the future, and we are denied permission and/or
approvals, the relevant PRC government agencies could subject us to a stringent approval process from the relevant government entities
in connection with this offering, continued listing on a U.S. exchange, the potential business combination, the issuance of shares or
the maintenance of our status as a publicly listed company outside China, and the post business combination entity&rsquo;s PRC operations
if our business combination target is a PRC target company. We may also be subject to registration with the CSRC following this offering
pursuant to the Trial Measures. It is uncertain when and whether we will be required to obtain permission from the PRC government to
continue to list on a U.S. exchange in the future and offer our securities to foreign investors. If we do not maintain applicable permissions
or approvals, if we inadvertently concluded that such permissions or approvals are not required, or applicable laws, regulations, or
interpretations change and we are required to obtain such permissions or approvals in the future, including pursuant to the Trial Measures,
and we are denied permission and/or approvals from Chinese authorities to list on U.S. exchanges or offer our securities to foreign investors,
we may not be able to continue listing on a U.S. exchange or be subject to other severe consequences, which would materially affect the
interest of the investors. In addition, any changes in PRC law, regulations, or interpretations may severely affect our operations after
this offering. The use of the term &ldquo;operate&rdquo; and &ldquo;operations&rdquo; includes the process of searching for a target
business and conducting related activities. To that extent, we may not be able to conduct the process of searching for a potential target
company in China.</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; text-indent: 0.25in">For a detailed description
of risks associated with the cash transfers, see &ldquo;<B><I>Transfers of Cash to and from our Subsidiaries</I></B>&rdquo; on page&nbsp;130
and &ldquo;<B><I>Risk Factors &mdash; Risks Associated with Acquiring and Operating a Business with its Primary Operation in China</I></B>&rdquo;
under the subheadings &ldquo;<B><I>Cash-Flow Structure of a Company Based in China</I></B>&rdquo; on page&nbsp;80 and &ldquo;<B><I>Exchange
controls that exist in the PRC may restrict or prevent us from using the proceeds of this offering to acquire a target company in the
PRC and limit our ability to utilize our cash flow effectively following our initial business combination</I></B>&rdquo; on page&nbsp;81.
To date, we have not pursued an initial business combination and there have not been any capital contribution or shareholder loans by
us to any PRC entities, we do not yet have any subsidiaries, and we have not received, declared or made any dividends or distributions.</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; text-indent: 0.25in">Pursuant to the Holding
Foreign Companies Accountable Act (the &ldquo;HFCAA&rdquo;), the United States Public Company Accounting Oversight Board (the &ldquo;PCAOB&rdquo;)
issued a Determination Report on December&nbsp;16, 2021 which found that the PCAOB is unable to inspect or investigate completely registered
public accounting firms headquartered in (1)&nbsp;mainland China of the PRC because of a position taken by one or more authorities in
mainland China and (2)&nbsp;Hong Kong, a Special Administrative Region and dependency of the PRC, because of a position taken by one
or more authorities in Hong Kong. In addition, the PCAOB&rsquo;s report identified the specific registered public accounting firms which
are subject to these determinations. On August&nbsp;26, 2022, the PCAOB signed a Statement of Protocol (&ldquo;SOP&rdquo;) with the China
Securities Regulatory Commission (the &ldquo;CSRC&rdquo;) and the Ministry of Finance of the PRC, taking the first step toward opening
access for the PCAOB to inspect and investigate registered public accounting firms headquartered in mainland China and Hong Kong completely,
consistent with U.S. law. Pursuant to the SOP, the PCAOB shall have independent discretion to select any issuer audits for inspection
or investigation and has the unfettered ability to transfer information to the SEC. However, uncertainties still exist as to whether
the applicable parties, including governmental agencies, will fully comply with the framework.</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: 8 -->
    <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="break-before: page; 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: justify; text-indent: 0.25in">Depending on the implementation
of the SOP, if the PCAOB continues to be prohibited from conducting complete inspections and investigations of PCAOB-registered public
accounting firms in China, then China- based companies will be delisted pursuant to the HFCA Act despite the SOP. Therefore, there is
no assurance that the SOP could give relief to China-based companies against the delisting risk from the application of the HFCAA or
the Accelerating Holding Foreign Companies Accountable Act (the &ldquo;AHFCAA&rdquo;). Our auditor, WWC, P.C., the independent registered
public accounting firm that issues the audit report included elsewhere in this prospectus, as a firm headquartered in California and
registered with the PCAOB, is subject to laws in the United&nbsp;States pursuant to which the PCAOB conducts regular inspections to assess
our auditor&rsquo;s compliance with the applicable professional standards with the last inspection in November&nbsp;2021. As a SPAC,
our current business activities only involve preparation of this offering and will involve searching for targets and consummation of
a business combination following 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; text-align: justify; text-indent: 0.25in">In the event that we decide
to consummate our initial business combination with a target business based in or primarily operating in China, if there is any regulatory
change which prohibits the independent accountants from providing audit documentations located in mainland China or Hong Kong to the
PCAOB for inspection or investigation or the PCAOB expands the scope of the Determination Report so that the target company or the combined
company is subject to the HFCAA, as the same may be amended, you may be deprived of the benefits of such inspection. This could limit
or restrict our access to the U.S. capital markets and the trading of our securities on a national securities exchange or in the over-the-counter
trading market in the U.S. may be prohibited and our securities may be delisted by such exchange under the HFCAA. Additionally, in June&nbsp;2021,
the Senate passed the AHFCAA which, if signed into law, would reduce the time period for the delisting of foreign companies under the
HFCAA to two consecutive years instead of three years. If the combined company&rsquo;s auditor cannot be inspected by the PCAOB for two
consecutive years, the trading of the securities on any U.S. national securities exchanges as well as any over-the-counter trading in
the U.S. will be prohibited and our securities may be delisted by such exchange. See &ldquo;<B><I>Risk Factors &mdash; Risks Associated
with Acquiring and Operating a Business with its Primary Operation in China &mdash; Trading in our securities may be prohibited under
the HFCAA if the PCAOB determines that it cannot inspect or fully investigate our auditor. In that case, Nasdaq would delist our securities.
The delisting of our securities, or the threat of their being delisted, may materially and adversely affect the value of your investment.
Additionally, the inability of the PCAOB to conduct inspections may deprive our investors with the benefits of such inspections</I></B>&rdquo;.</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> As described in <I>&ldquo;<B>Risk Factors</B>,&rdquo;
 &ldquo;<B>Proposed Business &mdash; Sourcing of Potential Business Combination Targets</B>&rdquo; and &ldquo;<B>Management &mdash; Conflicts
of Interest</B>,&rdquo;</I> each of our officers and directors presently has, and any of them in the future may have additional, fiduciary,
contractual or other obligations or duties to one or more other entities pursuant to which such officer or director is or will be required
to present a business combination opportunity to such entities. </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; text-indent: 0.25in"><B>We have not authorized
anyone to provide any information or to make any representations other than those contained in this prospectus. We take no responsibility
for, and can provide no assurance as to the reliability of, any other information that others may give you. This prospectus is an offer
to sell only the units offered hereby, but only under circumstances and in jurisdictions where it is lawful to do so. The information
contained in this prospectus is current only as of its date.</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-align: justify; text-indent: 0.25in"> <B>We are an &ldquo;emerging
growth company&rdquo; and a &ldquo;smaller reporting company&rdquo; under applicable federal securities laws and will be subject to reduced
public company reporting requirements. Investing in our securities involves risks. See &ldquo;Risk Factors&rdquo; on page&nbsp;[38] for
discussions of information that should be considered 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">&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="vertical-align: bottom; font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Price
    to<BR> Public</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; vertical-align: bottom">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">Underwriting<BR>
    Discounts and<BR> Commissions (1)(2)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; vertical-align: bottom">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Proceeds,<BR>
    before<BR> expenses,<BR> to us</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; padding-bottom: 1pt; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 59%; font: 10pt Times New Roman, Times, Serif">Per Unit</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: 12%; font: 10pt Times New Roman, Times, Serif; text-align: right">0.10</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">$</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">9.90</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif">Total</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">55,000,000</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">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">550,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">54,450,000</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">&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: 18pt"></TD><TD STYLE="width: 34.15pt; text-align: left">(1)</TD><TD STYLE="text-align: justify">We
have also agreed to issue to Maxim and/or its designees, 247,500 ordinary shares (or 284,625 shares if the underwriter&rsquo;s
over-allotment option is exercised in full) upon the consummation of this offering. These shares are being registered in the registration
statement of which this prospectus forms a part. See the section entitled &ldquo;Underwriting&rdquo; of this prospectus for additional
information regarding compensation payable to the underwriters.</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: 18pt"></TD><TD STYLE="width: 34.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(2)</FONT></TD><TD STYLE="text-align: justify">We have agreed to pay Maxim, a fee equal to (i) 1.0% of the gross proceeds of the offering raised by the
underwriters, and (ii) 0.5% of the gross proceeds of the offering raised from investors that are introduced solely by us, provided, however,
that investments from such investors to which this reduced discount shall apply shall be capped at an aggregate amount of $5 million.
Underwriting discounts to be paid by us are calculated based on the assumption that no investors in this offering are introduced by us.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 52.15pt; text-align: justify">&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"></P>

<!-- Field: Page; Sequence: 9 -->
    <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="break-before: page; 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: justify; text-indent: 0.25in">Of the proceeds we receive
from this offering and the sale of the private placement units described in this prospectus, $55,000,000 or $63,250,000 if the underwriters&rsquo;
over-allotment option is exercised in full ($10.00 per unit), will be deposited into a trust account located in the United States with
Continental Stock Transfer&nbsp;&amp; Trust Company acting as trustee. 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 shareholders.</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 0.25in">The underwriters are offering the units for sale on a firm
commitment basis. Delivery of the units will be made on or about&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;[&#9679;],
2024.</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: 10 -->
    <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="break-before: page; 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: justify; text-indent: 0.25in"><B>Neither 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.</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-align: justify; text-indent: 0.25in"><B>No offer or invitation
to subscribe for units may be made to the public in the British Virgin Islands.</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-align: center"><B><I>Sole Book-Running Manager</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-align: center"><FONT STYLE="font-size: 10pt"><B>Maxim Group LLC</B></FONT></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: center">The date of this prospectus is &#8239;[&#9679;] , 2024.</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: 11 -->
    <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="break-before: page; 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>TABLE OF CONTENTS</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Page</B></FONT></TD></TR>
  <TR STYLE="font-size: 10pt; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; width: 90%"><A HREF="#sp1_001"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SUMMARY</FONT></A></TD>
    <TD STYLE="font-size: 10pt; width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; vertical-align: top; width: 8%; padding-left: 0.25in; text-align: right"><A HREF="#sp1_001">1</A></TD></TR>
  <TR STYLE="font-size: 10pt; background-color: White">
    <TD STYLE="font-size: 10pt"><A HREF="#ca_001"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">RISK FACTORS</FONT></A></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; vertical-align: top; padding-left: 0.25in; text-align: right"><A HREF="#ca_001">38</A></TD></TR>
  <TR STYLE="font-size: 10pt; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><A HREF="#ca_002"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CAUTIONARY NOTE REGARDING FORWARD-LOOKING
    STATEMENTS</FONT></A></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; vertical-align: top; padding-left: 0.25in; text-align: right"><A HREF="#ca_002">101</A></TD></TR>
  <TR STYLE="font-size: 10pt; background-color: White">
    <TD STYLE="font-size: 10pt"><A HREF="#ca_003"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">USE OF PROCEEDS</FONT></A></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; vertical-align: top; padding-left: 0.25in; text-align: right"><A HREF="#ca_003">105</A></TD></TR>
  <TR STYLE="font-size: 10pt; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><A HREF="#ca_004"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DIVIDEND POLICY</FONT></A></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; vertical-align: top; padding-left: 0.25in; text-align: right"><A HREF="#ca_004">109</A></TD></TR>
  <TR STYLE="font-size: 10pt; background-color: White">
    <TD STYLE="font-size: 10pt"><A HREF="#ca_005"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DILUTION</FONT></A></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; vertical-align: top; padding-left: 0.25in; text-align: right"><A HREF="#ca_005">110</A></TD></TR>
  <TR STYLE="font-size: 10pt; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><A HREF="#ca_006"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CAPITALIZATION</FONT></A></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; vertical-align: top; padding-left: 0.25in; text-align: right"><A HREF="#ca_006">113</A></TD></TR>
  <TR STYLE="font-size: 10pt; background-color: White">
    <TD STYLE="font-size: 10pt"><A HREF="#ca_018"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">MANAGEMENT&rsquo;S DISCUSSION
    AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</FONT></A></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; vertical-align: top; padding-left: 0.25in; text-align: right"><A HREF="#ca_018">114</A></TD></TR>
  <TR STYLE="font-size: 10pt; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><A HREF="#ca_016"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PROPOSED BUSINESS</FONT></A></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; vertical-align: top; padding-left: 0.25in; text-align: right"><A HREF="#ca_016">120</A></TD></TR>
  <TR STYLE="font-size: 10pt; background-color: White">
    <TD STYLE="font-size: 10pt"><A HREF="#ca_017"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">MANAGEMENT</FONT></A></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; vertical-align: top; padding-left: 0.25in; text-align: right"><A HREF="#ca_017">152</A></TD></TR>
  <TR STYLE="font-size: 10pt; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><A HREF="#ca_015"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PRINCIPAL SHAREHOLDERS</FONT></A></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; vertical-align: top; padding-left: 0.25in; text-align: right"><A HREF="#ca_015">162</A></TD></TR>
  <TR STYLE="font-size: 10pt; background-color: White">
    <TD STYLE="font-size: 10pt"><A HREF="#ca_014"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CERTAIN RELATIONSHIPS AND RELATED
    PARTY TRANSACTIONS</FONT></A></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; vertical-align: top; padding-left: 0.25in; text-align: right"><A HREF="#ca_014">165</A></TD></TR>
  <TR STYLE="font-size: 10pt; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><A HREF="#ca_013"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DESCRIPTION OF SECURITIES</FONT></A></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; vertical-align: top; padding-left: 0.25in; text-align: right"><A HREF="#ca_013">168</A></TD></TR>
  <TR STYLE="font-size: 10pt; background-color: White">
    <TD STYLE="font-size: 10pt"><A HREF="#ca_012"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">INCOME TAX CONSIDERATIONS</FONT></A></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; vertical-align: top; padding-left: 0.25in; text-align: right"><A HREF="#ca_012">188</A></TD></TR>
  <TR STYLE="font-size: 10pt; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><A HREF="#ca_11"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">UNDERWRITING</FONT></A></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; vertical-align: top; padding-left: 0.25in; text-align: right"><A HREF="#ca_11">197</A></TD></TR>
  <TR STYLE="font-size: 10pt; background-color: White">
    <TD STYLE="font-size: 10pt"><A HREF="#ca_010"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">LEGAL MATTERS</FONT></A></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; vertical-align: top; padding-left: 0.25in; text-align: right"><A HREF="#ca_010">206</A></TD></TR>
  <TR STYLE="font-size: 10pt; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><A HREF="#ca_009"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">EXPERTS</FONT></A></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; vertical-align: top; padding-left: 0.25in; text-align: right"><A HREF="#ca_009">206</A></TD></TR>
  <TR STYLE="font-size: 10pt; background-color: White">
    <TD STYLE="font-size: 10pt"><A HREF="#ca_008"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHERE YOU CAN FIND ADDITIONAL
    INFORMATION</FONT></A></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; vertical-align: top; padding-left: 0.25in; text-align: right"><A HREF="#ca_008">206</A></TD></TR>
  <TR STYLE="font-size: 10pt; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><A HREF="#ca_007"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">INDEX TO FINANCIAL STATEMENTS</FONT></A></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; vertical-align: top; padding-left: 0.25in; text-align: right"><A HREF="#ca_007">207</A></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: 12 -->
    <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="break-before: page; 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="sp1_001"></A>SUMMARY</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-align: justify; text-indent: 0.25in"><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 &ldquo;Risk Factors&rdquo; and our financial statements and the related notes included elsewhere in this prospectus,
before investing.</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; text-indent: 0.25in"><I>Unless otherwise stated in this prospectus,
references to:</I></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&ldquo;amended
    and restated memorandum and articles of association&rdquo; are to our memorandum and articles of association to be in effect upon
    completion of this offering;</I></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&ldquo;affiliate&rdquo;
    are to a corporation, limited liability company, or other entity that controls, is controlled by, or is under common control with
    our company or any of our company&rsquo;s subsidiaries;</I></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&ldquo;BVI&rdquo; are
    to the British Virgin Islands;</I></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&ldquo;Companies Act&rdquo;
    and the &ldquo;Insolvency Act&rdquo; are to the BVI Business Companies Act, 2004 and the Insolvency Act, 2003 of the British Virgin
    Islands, respectively and in each case as amended;</I></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&ldquo;founder shares&rdquo;
    are to our Class&nbsp;B ordinary shares, with no par value, held by our initial shareholder and, unless the context otherwise requires,
    the term also includes our Class&nbsp;A ordinary shares issued upon the conversion thereof as provided herein;</I></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&ldquo;initial shareholder&rdquo;
    is our sponsor, A SPAC III (Holdings) Corp., a BVI business company with limited liability;</I></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&ldquo;letter agreement&rdquo;
    refers to the letter agreement by and among our company, our sponsor and our officers and directors, the form of which is filed as
    an exhibit to the registration statement of which this prospectus forms a part;</I></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&ldquo;management&rdquo;
    or our &ldquo;management team&rdquo; are to our officers and directors;</I></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&ldquo;ordinary shares&rdquo;
    are to our Class&nbsp;A ordinary shares and our Class&nbsp;B ordinary shares;</I></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&ldquo;permitted transferees&rdquo;
    shall mean any of the following to whom an initial shareholder may transfer ordinary shares: the initial shareholder&rsquo;s affiliates,
    child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law,
    son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including adoptive relationships, any person sharing the initial shareholder&rsquo;s
    household (other than a tenant or employee), a trust in which these persons have more than fifty percent of the beneficial interest,
    a foundation in which these persons control the management of assets, and any other entity in which these persons own more than fifty
    percent of the voting interests. Upon the death of the initial shareholder, the term &ldquo;permitted transferees&rdquo; shall also
    include such deceased initial shareholder&rsquo;s estate, executors, administrators, personal representatives, heirs, legatees and
    distributees, as the case may be.</I></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&ldquo;private placement
    rights&rdquo; are to the rights included in the private placement units being purchased by our sponsor in the private placement;</I></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&ldquo;private placement
    shares&rdquo; are to the Class&nbsp;A ordinary shares included in the private placement units being purchased by our sponsor in the
    private placement;</I></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&ldquo;private placement
    units&rdquo; are to the units issued to our sponsor in a private placement simultaneously with the closing of this offering;</I></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&ldquo;public rights&rdquo;
    are to the rights sold as part of the units in this offering (whether they are subscribed for in this offering or in the open market);</I></FONT></TD></TR>
</TABLE>

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

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

<!-- Field: Page; Sequence: 13; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; width: 6%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; width: 94%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&ldquo;public
    shareholders&rdquo; are to the holders of our public shares;</I></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&ldquo;public shares&rdquo;
    are to our Class&nbsp;A ordinary shares, with no par value, offered as part of the units in this offering (whether they are subscribed
    for in this offering or thereafter in the open market);</I></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&ldquo;rights&rdquo;
    are to our rights, which include the public rights as well as the private placement rights to the extent they are no longer held
    by the initial purchasers of the private placement rights or their permitted transferees;</I></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="font-style: italic; font-family: Times New Roman, Times, Serif; text-align: justify"><I>&ldquo;sponsor&rdquo; is to A SPAC III (Holdings)
    Corp., a British Virgin Island business company with limited liability, with each of Serena Shie and Claudius Tsang owns equity interests
    in our sponsor; and</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&ldquo;we,&rdquo; &ldquo;us,&rdquo;
    &ldquo;company,&rdquo; &ldquo;A SPAC III&rdquo; or &ldquo;our company&rdquo; are to A SPAC III Acquisition Corp., a BVI business
    company with limited liability.</I></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; text-align: justify; text-indent: 0.25in"><I>All references in this
prospectus to shares of A SPAC III Acquisition Corp. being forfeited shall take effect as surrenders for no consideration of such shares
as a matter of British Virgin Islands law. Any conversion of the Class&nbsp;B ordinary shares described in this prospectus will take
effect as a redemption of Class&nbsp;B ordinary shares and an issuance of Class&nbsp;A ordinary shares as a matter of British Virgin
Island law.</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"></P>

<!-- Field: Page; Sequence: 14; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>General</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-align: justify; text-indent: 0.25in">We are a blank check company
incorporated in the British Virgin Islands as a business company for the purpose of effecting a merger, share exchange, asset acquisition,
share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this prospectus
as our initial business combination. Although there is no restriction or limitation on what industry or geographic region for our target
search, it is our intention to pursue prospective targets that are in the Environmental, Sustainability and Governance (ESG) and material
technology sector, which we believe have an optimistic growth trajectory for the coming years. We also intend to focus on prospective
target businesses that have potential for revenue growth and/or operating margin expansion with recurring revenue and cash flow, and
strong market positions within their industries. We will primarily seek to acquire one or more businesses with a total enterprise value
of between $100,000,000 and $600,000,000. At the time of preparing this prospectus, we do not have any specific business combination
under consideration or contemplation, and we have not, nor has anyone on our behalf, contacted any prospective target business or had
any discussions, formal or otherwise, with respect to such a transaction. Our efforts to date are limited to organizational activities
related to 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>Our Sponsor</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-align: justify; text-indent: 0.25in"> Our sponsor, A SPAC III
(Holdings) Corp., is a limited liability company incorporated in British Virgin Islands and was incorporated for the sole purpose of
holding securities interest in the Company. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Prior to this offering,
the sponsor, its affiliates and promoters directly or indirectly, held 1,581,250 Class&nbsp;B ordinary shares, or founder shares (up
to 206,250 of which are subject to forfeiture depending on the extent to which the underwriters&rsquo; over-allotment option is exercised)
which were purchased for $25,000. The Class&nbsp;B ordinary shares will automatically convert into Class&nbsp;A ordinary shares at the
time of our initial business combination, or earlier at the option of the holder, on a one-for-one basis, subject to adjustment as specified
in the &ldquo;<B><I>Founder shares conversion and anti-dilution</I></B>&rdquo; and may result in material dilution to the equity interests
of the Class A ordinary shareholders. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Prior to the closing
of this offering, our sponsor has agreed to loan us up to $350,000 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 the closing of this offering or the date which the company determines
not to conduct this offering. These loans will be repaid upon the closing of this offering out of the $1,400,000 of offering proceeds
not held in the trust account. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Immediate after this
Offering, assuming the over-allotment option is not exercised, an aggregate of 280,000 private placement units, at a price of $10.00
per unit for an aggregate purchase price of&nbsp;$2,800,000 in a private placement that will close simultaneously with the closing of
this Offering. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> In addition, if our sponsor
makes any working capital loans, up to $1,150,000 of such loans may be converted into units, at the price of $10.00 per unit at the option
of the lender. Such units would be identical to the private placement units. To the extent we issue Class&nbsp;A ordinary shares to effectuate
a business transaction, the potential for the issuance of a substantial number of additional Class&nbsp;A ordinary shares upon conversion
of these rights or conversion of these working capital loans into our securities could make us a less attractive acquisition vehicle
to a target business. Any such issuance will increase the number of issued and outstanding Class&nbsp;A ordinary shares and reduce the
value of the Class&nbsp;A ordinary shares issued to complete the business transaction. Therefore, our rights and founder shares may make
it more difficult to effectuate a business combination or increase the cost of acquiring the target business. See the Section&nbsp;entitled
 &ldquo;<B><I>Dilution</I></B>&rdquo; of this prospectus for additional information. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> We may reimburse our
sponsor, insiders, officers, directors or any of their affiliates for out-of-pocket expenses incurred in connection with certain activities
on our behalf, such as identifying and investigating possible business targets and business combinations. There is no limit on the amount
of out-of-pocket expenses reimbursable by us provided that, to the extent such expenses exceed the available proceeds not deposited in
the trust account, such expenses would not be reimbursed by us unless we consummate an initial business combination. In the event that
we reimburse our insiders, officers, directors or any of their affiliates for out-of-pocket expenses prior to the consummation of a business
combination or are required to indemnify any of our officers or directors as required by law, we would use funds available to us outside
of the trust account for our working capital requirements. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Our sponsor, insiders,
officers, directors and their affiliates may incur out-of-pocket expenses in connection with certain activities on our behalf, such as
identifying and investigating possible business targets and combinations. We have no policy that would prohibit these individuals and
their affiliates from negotiating the reimbursement of such expenses by a target business. As a result, the personal and financial interests
of such individuals may influence their motivation in identifying and selecting a target business. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Background and Competitive Strengths</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-align: justify; text-indent: 0.25in">We believe the experience
and network of relationships of our management team will give us distinct advantages in sourcing, structuring and consummating a business
combination. Our management and director team come from backgrounds ranging from over two decades of experience in the finance, capital
markets and entrepreneurship. We also believe that our strong mixture of skills, including experience with business development, entrepreneurship,
investment, finance and marketing, will provide us access to proprietary deals and assist us in identifying and evaluating a target,
manage risk and effect a successful business combination. However, none of our management team is obligated to remain with the company
after an acquisition transaction, and we cannot provide assurance that the resignation or retention of our current management will be
a term or condition in any agreement relating to an acquisition transaction. Moreover, despite the competitive advantages we believe
we have, we remain subject to significant competition with respect to identifying and executing an acquisition transaction.</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; text-indent: 0.25in">We will seek to capitalize
on the experience and networks of the members of our management team: Mr.&nbsp;Claudius Tsang, Mr.&nbsp;Xiangge Liu, Mr.&nbsp;Wong Yi
Dung Eden and Mr.&nbsp;Pang Wai Yuen Marvin. Our team consists of seasoned and experienced professionals who have significant experience
in both public and private companies. Members of our management also have extensive experience in sourcing and evaluating potential investment
targets as well as deal negotiation, corporate finance, business operations and management. Our team has developed a proprietary network
of relationships with business leaders, investors and intermediaries that we believe can generate deal flow for us. We believe our team
has the ability to source attractive deals and find good investment opportunities from sources in their networks.</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; text-indent: 0.25in">Mr.&nbsp;Claudius Tsang,
our Chief Executive Officer, Chief Financial Officer and Chairman, has over 20 years of experience in capital markets, with a strong
track record of success in private equity, M&amp;A transactions and PIPE investments with a focus on Greater China and other emerging
markets. Mr.&nbsp;Xiangge Liu, our Independent Director, has over 25 years of extensive experience in private equity, project finance
and advisory services. Mr.&nbsp;Wong Yi Dung Eden, our Independent Director, is an experienced leader in the finance and investment management
space, having founded and managed multiple investment firms and serving in senior roles at various financial institutions. Mr.&nbsp;Pang
Wai Yuen Marvin, our Independent Director, has expertise in finance, investment management and business development, with significant
roles in corporate finance and capital market advisory activities.</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 0.25in; text-align: justify; text-indent: -0.25in"><B>Leadership
of an Experienced Management Team</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-align: justify; text-indent: 0.25in">Our management team is led
by our Chief Executive Officer, Chief Financial Officer and the Chairman of our Board of Directors, Mr.&nbsp;Claudius Tsang.</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: 15; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Mr.&nbsp;Claudius
Tsang</B></FONT>&nbsp;has served as our Chief Executive Officer since September 2021, and as our Chief Financial Officer and Chairman
of our Board of Directors since July 2024. Mr.&nbsp;Tsang has over 20 years of experience in capital markets, with a strong track record
of success in private equity, M&amp;A transactions, and PIPE investments. Since 2022, Mr.&nbsp;Tsang has been the non-executive director
of Unity Group Holdings International Limited (SEHK:1539), a publicly listed investment company engages in the leasing and trading of
energy saving products in Hong Kong. During his 15-year career at Templeton from 2005 to 2007 and from 2008 to 2020, Mr.&nbsp;Tsang served
in various positions, including Co-head of Private Equity (North Asia) at Templeton Asset Management Limited and a Partner of Templeton
Private Equity Partners, Partner, Senior Executive Director, and Vice President. Mr.&nbsp;Tsang was responsible for the overall investment,
management, and operations activities of Templeton Private Equity Partners in North Asia. His role encompassed overseeing the analysis
and evaluation of opportunities for strategic equity investments in Asia. From July&nbsp;2007 to June&nbsp;2008, Mr.&nbsp;Tsang joined
Lehman Brothers, where he managed private equity projects in Hong Kong, China, Taiwan and the United States. Mr.&nbsp;Tsang served as
the Chief Executive Officer and Chairman of Model Performance Acquisition Corp. from March&nbsp;2021 and July&nbsp;2021 respectively,
until it closed its business combination with MultiMetaVerse Inc. in January&nbsp;2023. Since November&nbsp;2022, he has served as the
Chief Executive Officer, Chairman and Director of A Paradigm Acquisition Corp. He previously served as the Chief Executive Officer and
in June 2021 became the Chief Financial Officer of JVSPAC Acquisition Corp. Mr.&nbsp;Tsang has served, from April&nbsp;2021, as the Chief
Executive Officer, and from July&nbsp;2021, as the Chairman and Chief Financial Officer of A SPAC I Acquisition Corp, until it closed
its business combination with NewGenIvf Group Limited in April&nbsp;2024. He has served as the Chief Financial Officer of A SPAC II Acquisition
Corp since July&nbsp;2021 and as the Director and Chief Executive Officer of A SPAC (HK) Acquisition Corp since February&nbsp;2022 and
March&nbsp;2022, respectively. From February&nbsp;2024 to July 2024, Mr.&nbsp;Tsang served as a director of International Media Acquisition
Corp. Mr.&nbsp;Tsang served as a director of the CFA Society of Hong Kong from 2013 to 2019. Mr.&nbsp;Tsang obtained a postgraduate certificate
in sustainable business from the University of Cambridge in 2023, a Master of Business Administration from the University of Chicago
Booth School of Business in 2017, a bachelor&rsquo;s degree in law from Tsinghua University in 2005, and a bachelor&rsquo;s degree in
engineering from the Chinese University of Hong Kong in 1998. Mr.&nbsp;Tsang is also a CFA charter holder and a Certified ESG Analyst
(CESGA) certification holder. </P>

<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; text-align: justify; text-indent: 0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Mr.&nbsp;Xiangge Liu
will serve as our Independent Director after the effectiveness of the registration statement of which this prospectus is a part. Mr.&nbsp;Liu
has over 25 years of extensive experience in private equity, project finance and advisory services. Since 2022, Mr.&nbsp;Liu has served
as an advisor &nbsp;&amp; acting CEO to Homaer Capital, where he advised on strategic overseas investment opportunities and he also has
served as a Responsible Officer for Homaer Asset Management Limited since 2023. From 2011 to 2021, Mr.&nbsp;Liu served as the Managing
Director and Responsible Officer of RRJ Management (HK), a licensed corporation under the SFO to carry out Type 1 (dealing in securities)
and Type 4 (advising on securities) regulated activities, as the sub-adviser to RRJ Capital II Ltd, and general partner of RRJ Capital
Master Fund, which focuses in equity investments. From 2016 to 2018, Mr.&nbsp;Liu served as the Non-Executive Board Director for China
Logistics Property Holdings Co Ltd, an investment holding company listed in Hong Kong with its subsidiaries principally engaged in manufacture
and sales of premium logistics facilities. From 2010 to 2011, Mr.&nbsp;Liu served as senior vice-president and head of risk management
at CIAM Group Limited, an investment management company of CITIC Group Corporation where he oversaw investment operations and portfolio
management. From 2008 to 2010, Mr.&nbsp;Liu served as managing director at Dingyi Venture Capital (HK) Limited, an investment company,
and was responsible for overseeing its investment operations. From 2007 to 2008, Mr.&nbsp;Liu served as the Director in Project Finance
and Advisory for Societe Generale Asia limited. Mr.&nbsp;Liu obtained a master&rsquo;s degree in business administration from Boston
University in 1999 and a bachelor&rsquo;s degree in finance from Beijing Foreign Studies University in 1989. We believe that Mr.&nbsp;Liu
is qualified to serve on our board of directors based on his private equity, project finance&nbsp;&amp; advisory expertise. </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; text-indent: 0.25in"> <B>Mr.&nbsp;Wong Yi Dung
Eden</B> will serve as our Independent Director after the effectiveness of the registration statement of which this prospectus is a part.
Since January&nbsp;2022, Mr.&nbsp;Wong has served as Councillor of Greater China Division at CPA Australia. He previously served as Divisional
President of Greater China Division from January&nbsp;2022 to December&nbsp;2022, Deputy Divisional President of Greater China Division
from January&nbsp;2020 to December&nbsp;2021, and Chairman of the Financial Services Committee of Greater China Division from January&nbsp;2019
to December&nbsp;2021. During his tenure, he was responsible for engaging members and providing local support for CPA Australia in Greater
China, as well as maintaining the integrity of the designation. Since November&nbsp;2018, Mr.&nbsp;Wong has served as Chairman of ViiPark
Financial Holdings Co Limited. During his tenure, he was responsible for overseeing the strategic management of the company, developing
relationships with major clients, and monitoring and improving internal control.&nbsp;From November&nbsp;2010 to October&nbsp;2018, Mr.&nbsp;Wong
served as the Founder, Managing Director and Responsible Officer of East Pak Investment Management&nbsp;Co Limited.&nbsp;He was responsible
for managing a Cayman Island-incorporated fund that focuses on investment in the Greater China market. He was also involved in daily
management, sourcing and the analysis of investment opportunities in listed equities, fixed income, private equities and credit markets.
From 2006 to 2010, Mr Wong served as an Executive Director at Goldman Sachs, in the Investment Management Division and the Fixed Income,
Currencies and Commodities Division. From 2004 to 2006, Mr.&nbsp;Wong served as a Director of the Fixed Income Division at Credit Suisse
(Hong Kong). From 2000 to 2004, Mr.&nbsp;Wong served as the Director of Debt Research at ING Bank N.V. (Hong Kong). From&nbsp;1999 to&nbsp;2000,
Mr.&nbsp;Wong served as a Senior Corporate Analyst at Banque Paribas (Hong Kong). Mr.&nbsp;Wong began his career at HSBC (Hong Kong)
where he served as a Credit Research Analyst, Corporate Relationship Manager and Executive Trainee from 1991 to 1998. Mr.&nbsp;Wong obtained
his master&rsquo;s degree in business administration from the University of Chicago in 2016. He obtained his Bachelor of Laws from University
of London and Bachelor of Commerce from University of Melbourne in 2005 and 1991, respectively. Mr.&nbsp;Wong is a Fellow Member at CPA
(Australia) since 2017. We believe that Mr.&nbsp;Wong is qualified to serve on our board of directors based on his leadership experience
in the finance and investment management space, having founded and managed multiple investment firms and serving in senior roles at various
financial institutions. </P>

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

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

<!-- Field: Page; Sequence: 16; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in"> <B>Mr.&nbsp;Pang Wai
Yuen Marvin</B> will serve as our Independent Director after the effectiveness of the registration statement of which this prospectus
is a part. Since 2022, Mr.&nbsp;Pang has served as the Director of Corporate Finance at iFree Group (HK) Limited, where he has led the
corporate finance efforts of Trollee &ndash; the group&rsquo;s smart retail technology division. In his current role, he analyses and
advises on global capital market opportunities and ascertains various exit options for the company. From 2018 to 2021, Mr.&nbsp;Pang
served as Managing Director - Head of Equities at Shenwan Hongyuan Securities (HK) Ltd. where he managed the overall institutional equity
business of the group outside mainland China. During his tenure, he also spearheaded the ECM&nbsp;&amp; syndication efforts for the H-share
IPO of Shenwan Hongyuan Group Ltd (6806.HK), and led the D-share IPO effort of Qingdao Haier (600690.CH), the first time such shares
of a Chinese company was listed on the China Europe International Exchange D-Share market of the Frankfurt Stock Exchange. From 2016
to 2018, Mr.&nbsp;Pang served as Managing Director - Head of Equity Capital Markets at Central China International Capital Limited where
he set up and led the ECM department and was involved in arranging the investment by a major cornerstone investor in the Zhongyuan Bank
Co Ltd (1216.HK) IPO. From 2012 to 2014, Mr.&nbsp;Pang served as the Head of the Hong Kong Office for Itau Asia Securities Limited, the
Hong Kong SFC-regulated entity of Itau Unibanco, one of the largest banks in the Latin American region. He was responsible for expanding
the firm&rsquo;s business from a Brazilian focus targeting Chinese clients and diversifying it to a Latin American focus targeting a
wider Asian client base. From 2008 to 2010, Mr.&nbsp;Pang was the Head of Equity Sales - China&nbsp;&amp; HK for HSBC Global Markets,
where he successfully led the Asian tranche of the US$12 billion follow-on offering of Vale of Brazil in 2008. He was also involved in
the IPO of L&rsquo;Occitane (973.HK), the first French company to list in Hong Kong. From 2005 to 2008, Mr.&nbsp;Pang served as Executive
Director &ndash; HK&nbsp;&amp; China Equity Sales at BOCI Securities Ltd. From 1998 &ndash; 2000, and from 2001 to 2005, Mr.&nbsp;Pang
was the Head of Institutional Equity Sales at Core Pacific-Yamaichi International (H.K.) Ltd. From 1988 to 2001, Mr.&nbsp;Pang served
at various companies, including Chase Manhattan Investment Management HK, Sanyo Securities HK, Daiwa Securities Canada, RBC Dominion
Securities Canada, Dresdner Kleinwort Benson Securities Asia and SBI E2 Capital Securities. Mr.&nbsp;Pang obtained a Master of Business
Administration (Finance) from the University of Stirling in 1988. He has been a Chartered Financial Analyst since 1996. In 2009, he was
voted as the number-one ranked hedge fund salesperson in the Asiamoney Brokers Poll. </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-top: 0pt; margin-bottom: 0pt"> <B>Compensation</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"> The amount of compensation that may be received by our sponsor
and its affiliates is summarized as follows: </P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 28%; border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.4pt 5pt"> <FONT STYLE="font-size: 10pt"><B>Entity/Individual</B></FONT> </TD>
    <TD STYLE="width: 1%; padding: 0.25pt"> &nbsp; </TD>
    <TD STYLE="width: 37%; border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: center"> <B>Amount of Compensation to be
    </B> </P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: center"> <B>Received or Securities Issued
    or to </B> </P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5pt; text-align: center"> <B>be Issued</B> </P></TD>
    <TD STYLE="width: 1%; padding: 0.25pt"> &nbsp; </TD>
    <TD STYLE="width: 33%; border-bottom: black 1pt solid; padding: 0.25pt 0.25pt 0.4pt 5pt; text-align: center"> <FONT STYLE="font-size: 10pt"><B>Consideration
    Paid or to be Paid</B></FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="padding: 0.25pt 0.25pt 0.25pt 5pt"> <FONT STYLE="font-size: 10pt">A SPAC III (Holdings) Corp.</FONT> </TD>
    <TD STYLE="padding: 0.25pt"> &nbsp; </TD>
    <TD STYLE="padding: 0.25pt 0.25pt 0.25pt 5pt"> <FONT STYLE="font-size: 10pt">1,375,000 Class B Ordinary&nbsp;shares<SUP>(1)</SUP></FONT> </TD>
    <TD STYLE="padding: 0.25pt"> &nbsp; </TD>
    <TD STYLE="padding: 0.25pt 0.25pt 0.25pt 5pt"> <FONT STYLE="font-size: 10pt">$25,000</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt"> &nbsp; </TD>
    <TD STYLE="padding: 0.25pt 0.25pt 0.25pt 5pt"> <FONT STYLE="font-size: 10pt">280,000 Private&nbsp;Placement Units<SUP>(1)</SUP></FONT> </TD>
    <TD STYLE="padding: 0.25pt"> &nbsp; </TD>
    <TD STYLE="padding: 0.25pt 0.25pt 0.25pt 5pt"> <FONT STYLE="font-size: 10pt">$2,800,000</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="4" STYLE="padding: 0.25pt"> &nbsp; </TD>
    <TD STYLE="padding: 0.25pt"> &nbsp; </TD>
    <TD STYLE="padding: 0.25pt 0.25pt 0.25pt 5pt"> <FONT STYLE="font-size: 10pt">Up to $350,000</FONT> </TD>
    <TD STYLE="padding: 0.25pt"> &nbsp; </TD>
    <TD STYLE="padding: 0.25pt 0.25pt 0.25pt 5pt"> <FONT STYLE="font-size: 10pt">Repayment of loans&nbsp;made to us by our sponsor
    to cover offering-related and organizational expenses.</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt"> &nbsp; </TD>
    <TD STYLE="padding: 0.25pt 0.25pt 0.25pt 5pt"> <FONT STYLE="font-size: 10pt">Up to $1,150,000 in working capital loans may be convertible
    into private units at a price of $10.00 per unit </FONT> </TD>
    <TD STYLE="padding: 0.25pt"> &nbsp; </TD>
    <TD STYLE="padding: 0.25pt 0.25pt 0.25pt 5pt"> <FONT STYLE="font-size: 10pt">Working capital loans to finance transaction costs
    in connection with an intended initial business combination.</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt"> &nbsp; </TD>
    <TD STYLE="padding: 0.25pt 0.25pt 0.25pt 5pt"> <FONT STYLE="font-size: 10pt">Reimbursement for any out-of-pocket expenses related
    to identifying, investigating and completing an initial business combination</FONT> </TD>
    <TD STYLE="padding: 0.25pt"> &nbsp; </TD>
    <TD STYLE="padding: 0.25pt 0.25pt 0.25pt 5pt"> <FONT STYLE="font-size: 10pt">Services in connection with identifying, investigating
    and completing an initial business combination.</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.25pt"> &nbsp; </TD>
    <TD STYLE="padding: 0.25pt 0.25pt 0.25pt 5pt"> &nbsp; </TD>
    <TD STYLE="padding: 0.25pt"> &nbsp; </TD>
    <TD STYLE="padding: 0.25pt 0.25pt 0.25pt 5pt"> &nbsp; </TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt 0pt 33pt; text-align: justify; text-indent: -24pt"></P>

<!-- Field: Rule-Page --><DIV STYLE="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 9pt 0pt 33pt; text-align: justify; text-indent: -24pt"></P>




<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding: 0.25pt"> <FONT STYLE="font-size: 10pt">(1)</FONT> </TD>
    <TD STYLE="width: 95%; padding: 0.25pt"> <FONT STYLE="font-size: 10pt">Assumes no exercise of the over-allotment option and the
    full forfeiture of 206,250 shares that are subject to forfeiture by our initial shareholders depending on the extent to which the
    underwriters&rsquo; over-allotment option is exercised.</FONT> </TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> The low price that our sponsor, executive
officers and directors (directly or indirectly) paid for the founder shares creates an incentive whereby our officers and directors could
potentially make a substantial profit even if we select an acquisition target that subsequently declines in value and is unprofitable
for public shareholders. If we are unable to complete our initial business combination within the completion window, or by such earlier
liquidation date as our board of directors may approve, the founder shares, private shares and private warrants will be worthless, except
to the extent they receive liquidating distributions from assets outside the trust account. Additionally, we will repay up to $350,000
in loans made to us by our sponsor to cover offering-related and organizational expenses. We will repay any loans which may be made by
our sponsor or an affiliate of our sponsor or certain of our directors and officers to finance transaction costs in connection with an
intended initial business combination; up to $1,150,000 of such loans may be convertible into private units at a price of $10.00 per
unit at the option of the lender. Upon consummation of this offering, we will also reimburse our sponsor, directors or officers, or our
or any of their respective affiliates for any out-of-pocket expenses related to identifying, investigating and completing an initial
business combination. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><B>Our Competitive
Advantages</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-align: justify; text-indent: 0.25in">Mr.&nbsp;Claudius Tsang,
our Chief Executive Officer, Chief Financial Officer and Chairman, has accumulated broad industry expertise and transaction experience
over the course of his career.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> In March 2021, Mr. Claudius
Tsang commenced his tenure as CEO and Chairman of Model Performance Acquisition Corp. (ticker symbol: &ldquo;MPAC&rdquo;), a SPAC incorporated
for the purposes of effecting a business combination. MPAC completed its initial public offering in April 2021, generating aggregate
proceeds of&thinsp;$57,500,000. On August 6, 2021, MPAC entered into a definitive agreement with MultiMetaVerse Inc. (ticker symbol:
 &ldquo;MMV&rdquo;), an animation and entertainment company. The definitive agreement did not impose a minimum cash requirement On January
4, 2023, MPAC announced that it had closed its business combination with MMV. In connection with the business combination, 2,033,867
MPAC Class A Ordinary Shares exercised their right to redeem for cash. MMV also raised US$4.5 million from PIPE investors, which, together
with the proceeds from non-redeeming MPAC shareholders, amounted to approximately US$6.7 million in gross proceeds. As part of the consummation
of the business combination, MPAC changed its name to &ldquo;MULTIMETAVERSE HOLDINGS LIMITED.&rdquo; The combined company began trading
on January 5, 2023, on Nasdaq Global Market under the new ticker symbol &ldquo;MMV&rdquo;. </P>

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

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

<!-- Field: Page; Sequence: 17; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> In July 2020, Mr. Claudius
Tsang co-founded A SPAC I Acquisition Corp. (ticker symbol: &ldquo;ASCA&rdquo;), a SPAC incorporated for the purposes of effecting a
business combination. Mr. Tsang served as the Chief Financial Officer, Chairman and Chief Executive Officer of ASCA. ASCA completed its
initial public offering in February 17, 2022, generating gross proceeds of $60,000,000. On February 15, 2023, ASCA entered into a definitive
agreement with NewGenIVF Limited (ticker symbol: &ldquo;NIVF&rdquo;), an assisted reproductive services (&ldquo;ARS&rdquo;) provider
in Asia Pacific. The definitive agreement did not impose a minimum cash requirement. On April 3, 2024, ASCA closed its business combination
with NewGenIVF Limited. In connection with the business combination, 1,862,085 ASCA Class A Ordinary Shares exercised their right to
redeem for cash. NIVF and ASCA also signed a securities purchase agreement on February 29, 2024, pursuant to which NIVF has agreed to
issue and sell to JAK Opportunities VI LLC (&ldquo;JAK&rdquo;), an aggregate of up to $3,500,000 principal amount of convertible notes,
consisting of two tranches (x) an initial tranche of up to $1,750,000 and including an original issue discount of up to aggregate $122,500,
and (y) subsequent tranches of an aggregate principal amount of up to $1,750,000, including an original issue discount of up to aggregate
$122,500. The initial tranche raised from JAK, together with the proceeds from non-redeeming ASCA shareholders, amounted to approximately
US$2.5 million in gross proceeds. As part of the consummation of the business combination, ASCA changed its name to &ldquo;NewGenIvf
Group Limited.&rdquo; (ticker symbol: &ldquo;NIVF&rdquo;). The combined company began trading on April 4, 2024, on Nasdaq Global Market
under the new ticker symbol &ldquo;NIVF&rdquo;. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> In June 2021, Mr. Claudius
Tsang was a member of the founding team of A SPAC II Acquisition Corp. (ticker symbol &ldquo;ASCB&rdquo;), a SPAC incorporated for the
purposes of effecting a business combination. Mr. Tsang served as the Chief Financial Officer of ASCB. ASCB completed its initial public
offering in May 5, 2022, generating gross proceeds of $200,000,000. ASCB intends to pursue prospective targets that are in the high-growth
industries that apply cutting edge technologies, such as proptech and fintech (the &ldquo;New Economy Sectors&rdquo;), with a preference
for companies that promote environmental, social and governance principles, and with an enterprise value of $800 million to $2 billion.
ASCB initially had until August 5, 2022 or 15 months from its initial public offering to complete a business combination. On August 1,
2023, at its extraordinary general meeting of the shareholders, ASCB&rsquo;s shareholders approved a proposal to amend and restate ASCB&rsquo;s
amended and restated memorandum and articles of association to, among other things, allow ASCB to extend the date by which it had to
complete a business combination to August 5, 2024, or up to 27 months from its initial public offering. On July 23, 2024, ASCB held its
extraordinary general meeting of the shareholders at which the shareholders voted on the proposal to amend and restate its amended and
restated memorandum and articles of association to allow ASCB to extend the date by which it has to consummate a business combination
from August 5, 2024 to August 5, 2025. As of the date of this prospectus, ASCB is in search of business combination targets and has approximately
$4.4 million remaining in the Trust Account. ASCB has not identified a target business, and it intended to pursue prospective targets
in the New Economy sector with a preference for companies that promote ESG principles, which presents a partial overlap with our prospective
target industry, which will initially be material technology sector or ESG, presenting a conflict of interest. Mr. Tsang has a pre-existing
fiduciary obligation to present potential target businesses to ASCB, and will therefore present any potential target businesses to it
prior to presenting them to us. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> In April 2021, Mr. Claudius
Tsang was a member of the founding team of JVSPAC Acquisition Corp. (&ldquo;JVSPAC&rdquo;), a SPAC incorporated for the purposes of effecting
a business combination. Mr. Tsang has served as the Chief Financial Officer since June 2021, as a director since January 2024 and as
Chief Executive Officer from April 2021 to June 2021 of JVSPAC. JVSPAC completed its initial public offering in January 23, 2024, generating
gross proceeds of $57,500,000. On April 8, 2024, JVSPAC announced that it had entered into an agreement and plan of merger with Hotel101
Global Pte. Ltd and its affiliates (&ldquo;HOTEL101&rdquo;), a hotel prop-tech operator. In the event that JVSPAC is unable to consummate
the business combination with HOTEL101 and needs to identify a target business, Mr. Tsang has a pre-existing fiduciary obligation to
present potential target businesses to JVSPAC, and will therefore present any potential target businesses to it prior to presenting them
to us. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">We believe that our team&rsquo;s
expertise and experience in private equity, structuring complex transactions, accessing the capital markets, and leading special purpose
acquisition corporations, combined with our extensive experience in sourcing and evaluating potential investment targets as well as deal
negotiation, corporate finance, business operations and management, will position us to source attractive deals and find good investment
opportunities from sources in their networks. We intend to focus our efforts on evaluating business combination targets by deploying a
proactive sourcing strategy and focus our efforts on companies where we believe the combination of our team&rsquo;s operating experience,
business development prowess, professional relationships and tactical expertise can contribute to growth potential of a target business.
We expect to also take advantage of the Sponsor&rsquo;s and management team&rsquo;s extended network and may contact companies that had
previously been approached by special purpose acquisition companies in which our Sponsor, management or directors were involved.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> We expect to encounter
intense 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, domestic and international, 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. Such competition may negatively
impact the acquisition terms that we are able to negotiate. For additional information, see &ldquo;<B><I>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 shareholders may receive only approximately $10.00
per share, or less in certain circumstances, on our redemption, and our rights will expire worthless.&rdquo;</I></B> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><B>Established
Deal Sourcing Network</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-align: justify; text-indent: 0.25in">We believe the strong track
record of our management team will enable us to get access to quality deal pipeline. We intend to leverage our management team&rsquo;s
industry experiences, proven deal sourcing capabilities and broad network of relationships in numerous industries, including business
executives, entrepreneurs, media relationships, institutional investors, family offices, investment bankers and attorneys, which we believe
will provide us with a pipeline of business combination opportunities.</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: 18; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">We expect that the collective
experience, capability and network of our CEO, CFO and Chairman, Claudius Tsang, our directors and other officers, combined with their
individual and collective reputations in the investment and business community, will serve to create prospective business combination
opportunities. Moreover, our management team with its contacts and sources from which to generate acquisition opportunities will also
enable A SPAC III Acquisition Corp to pursue complementary follow-on business arrangements.</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; text-indent: 0.25in">Our team will deploy a proactive
sourcing strategy and focus our efforts on companies where we believe the combination of our team&rsquo;s operating experience, business
development prowess, professional relationships and tactical expertise can be catalysts to enhance the growth potential and value of
a target business and provide opportunities for attractive returns to our shareholders. We believe that our backgrounds will enable us
to identify these companies, conduct efficient, effective due diligence, make an appealing case of strategic relevance to the target,
and articulate an attractive growth case to public-market investors.</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 0.25in; text-align: justify; text-indent: -0.25in"><B>Status as
a Publicly Listed Acquisition 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-align: justify; text-indent: 0.25in">We believe our structure
will make us an attractive business combination partner to prospective target businesses. As a publicly listed company, we will offer
a target business an alternative to the traditional initial public offering process. We believe that some target businesses will favor
this alternative, which we believe is less expensive more efficient, while offering greater certainty of execution and flexibility, than
the traditional initial public offering process. During an initial public offering, there are typically underwriting fees and marketing
expenses, which would be costlier than a business combination with us. Furthermore, once a proposed business combination is approved
by our shareholders (if applicable) and the transaction is consummated, the target business will have effectively become public, whereas
an initial public offering is always subject to the underwriter&rsquo;s ability to complete the offering, as well as general market conditions
that could prevent the offering from occurring. Once public, we believe the target business would have greater access to capital and
additional means of creating management incentives that are better aligned with shareholders&rsquo; interests than it would as a private
company. It can offer further benefits by augmenting a company&rsquo;s profile among potential new customers and vendors and aid in attracting
talented management staffs.</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; text-indent: 0.25in">With respect to the foregoing
examples and descriptions, past performance by our management team, including experience and performance with SPACs, 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. Potential investors should not rely upon the historical record of our management
as indicative of future performance.</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"><B>Acquisition Strategy</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-align: justify; text-indent: 0.25in">Our efforts in identifying
prospective target businesses will not be limited to a particular industry or country, although we intend to focus on businesses in the
Environmental, Sustainability and Governance (ESG) and material technology sector, an area where we believe has an optimistic growth
trajectory for the coming years. There is no restriction on the geographic location for our target search, and it is our intent to pursue
targets globally. Since our sponsor and its affiliate(s)&nbsp;as well as certain of our current executive officers and directors are
located or have significant ties to China, we may acquire a target business that is based, from, expanded or has operations in China.
In particular, we intend to focus our search for an initial business combination on private companies that have compelling economics
and paths to positive operating cash flow, recurring revenue, strong market position, and successful management teams that are seeking
to expand their operations and investor base in Asia and globally. These criteria and guidelines are not intended to be exhaustive. Any
evaluation of 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 the management team, directors, and advisory board may deem relevant. We
may decide to enter our initial business combination with a target business that does not meet these criteria and guidelines.</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; text-indent: 0.25in">We believe that the material
technology sector has a strong growth trajectory due to important trends. According to some sources, there is an increasing demand for
novel materials which may be a result of a growing preference for sustainable and eco-friendly products, as well as the integration of
technology to enhance product quality and efficiency. Furthermore, we believe that the concept of ESG is growing in significance. Certain
trends are reported to contribute to the growth of the ESG market, including increased awareness, enhanced corporate transparency and
reporting, and rising investor demand for ESG integration. We believe that these sectors encompass a broad range of companies that could
make attractive targets for us. We believe there to be many potential targets within this industry that could become attractive public
companies.</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: 19; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">We will seek to capitalize
on the strength of our management team. We believe that our board and management&rsquo;s experiences, from evaluating assets through
investing, company building and strategic management, will enable us to identify, source, negotiate and execute an initial business combination
with an attractive company or businesses within the Environmental, Sustainability and Governance (ESG) and material technology market
that have the capacity for cash flow creation, opportunity for operational improvement and robust company fundamentals, and enable us
to execute a business combination with high-quality targets. Our selection process will leverage our board and management&rsquo;s broad
network of relationships with leading start-ups, established and reputable MNCs and respected peers, as well as our industry and execution
expertise and deal sourcing capabilities. Together with this network of trusted partners, we intend to capitalize the target business
and create purposeful strategic initiatives in order to achieve attractive growth and performance after our initial business combination.
We are not prohibited from pursuing an initial business combination with a company that is affiliated with our sponsor, officers or directors,
or completing the 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 a target that is affiliated with our sponsor, officers or directors,
we, or a committee of independent directors, would obtain an opinion from an independent firm that commonly renders valuation opinions,
independent accounting firm or independent investment banking firm that our 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Investment Criteria</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-align: justify; text-indent: 0.25in">Consistent with our acquisition
strategy, we have identified the following criteria to evaluate prospective target businesses. We will primarily seek to acquire one
or more growth businesses with a total enterprise value of between $100,000,000 and $600,000,000. Although we may decide to enter into
our initial business combination with a target business that does not meet any of the criteria described below, it is our intention to
acquire companies that we believe:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px; padding-left: 4.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">competitive advantage in
    the markets and/or underexploited growth opportunities that our team is positioned to identify;</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; text-align: justify; text-indent: 0.25in">We intend to seek target
companies that have competitive advantages and/or underexploited expansion opportunities that can benefit from access to additional capital
as well as expertise. We believe a large number of companies suffer from a lack of insightful strategy and capital for growth. We intend
to target businesses that have historically demonstrated growth and possess favorable future growth characteristics. Our management team
has significant experience in identifying such targets and in helping target management assess the strategic and financial fit.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 24px; padding-left: 4.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Strong management team
    that can create significant value for the target company;</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; text-align: justify; text-indent: 0.25in">We will seek to identify
companies with strong and experienced management teams that will complement the operating and investment abilities of our management
team. We believe we can provide a platform for the existing management team to leverage the experience of our management team. We believe
that the operating expertise of our management team is well suited to complement the target&rsquo;s management team.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="padding-left: 4.3pt; text-align: left; width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ready to be public, and
    will benefit from access to capital market</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; text-align: justify; text-indent: 0.25in">We will look for public-ready
management teams that have a track record of value creation for their shareholders, with the ambition to take advantage of the improved
liquidity and additional capital that can come from a successful listing in the United States. We believe that there are a substantial
number of potential target businesses with appropriate valuations that can benefit from a public listing and new capital to support revenue
and earnings growth.</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: 20; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B>Sourcing of Potential Business Combination
Targets</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-align: justify; text-indent: 0.25in">We believe that the operational
and transactional experience of our management team and their respective affiliates, and the relationships they have developed as a result
of such experience, will provide us with a substantial number of potential business combination targets. These individuals and entities
have developed a broad network of contacts and corporate relationships around the world. This network has grown through sourcing, acquiring
and financing businesses, relationships with sellers, financing sources and target management teams and experience in executing transactions
under varying economic and financial market conditions. We believe that these networks of contacts and relationships will provide us important
sources of investment opportunities. In addition, we anticipate that target business candidates may be brought to our attention from various
unaffiliated sources, including investment market participants, private equity funds and large business enterprises seeking to divest
noncore assets or divisions. We expect to also take advantage of the Sponsor&rsquo;s and management team&rsquo;s extended network and
may contact companies that had previously been approached by special purpose acquisition companies in which our Sponsor, management or
directors were involved.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Our acquisition criteria,
due diligence processes and value creation methods are not intended to be exhaustive. Any evaluation relating to the merits of a particular
initial business combination may be based, to the extent relevant, on these general guidelines as well as other considerations, factors
and criteria that our management may deem relevant. Our search for a business combination, 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
by factors beyond our control.</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; text-indent: 0.25in">We are not prohibited from
pursuing an initial business combination with a company that is affiliated with our sponsor, officers or directors, or making the acquisition
through a joint venture or other form of shared ownership with our sponsor, officers or directors. In the event we seek to complete an
initial business combination with a 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 firm that commonly renders
valuation opinions or from an independent accounting firm, 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Unless we complete our initial
business combination with an affiliated entity, or our Board of Directors 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, another independent
firm that commonly renders valuation opinions or from an independent accounting firm that the price we are paying for a target is fair
to our company from a financial point of view. If no opinion is obtained, our shareholders will be relying on the judgment of our Board
of Directors which will have significant discretion in choosing the standard used to establish the fair market value of the target or
targets, and different methods of valuation may vary greatly in outcome from one another. Such standards used will be disclosed in our
tender offer documents or proxy solicitation materials, as applicable, related to our initial business combination.</P>

<P STYLE="font: 10pt 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; text-indent: 0.25in">As more fully discussed
in &ldquo;<B><I>Management &mdash; Conflicts of Interest</I></B>,&rdquo; if any of our officers or directors becomes aware of a business
combination opportunity that falls within the line of business of any entity to which he or she has pre-existing fiduciary or contractual
obligations, he or she may be required to present such business combination opportunity to such entity prior to presenting such business
combination opportunity to us, subject to his or her fiduciary duties under British Virgin Islands law. All of our officers currently
have certain relevant fiduciary duties or contractual obligations that may take priority over their duties to us. In particular, Mr.
Claudius Tsang is the Chief Financial Officer of A SPAC II Acquisition Corp., a special purpose acquisition company that is in search
of business combination targets. Because ASCB has not identified a target business, Mr. Tsang has a pre-existing fiduciary obligation
to present potential target businesses to ASCB, and will therefore present any potential target businesses to it prior to presenting
them to us. Mr. Claudius Tsang is also the director and chief financial officer of JVSPAC Acquisition Corp. On April 8, 2024, JVSPAC
announced that it had entered into an agreement and plan of merger with Hotel101 Global Pte. Ltd and its affiliates, a hotel prop-tech
operator. In the event that JVSPAC is unable to consummate the business combination with HOTEL 101 and needs to identify a target business,
Mr. Tsang has a pre-existing fiduciary obligation to present potential target businesses to JVSPAC, and will therefore present any potential
target businesses to it prior to presenting them to 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; text-align: justify; text-indent: 0.25in"></P>

<!-- Field: Page; Sequence: 21; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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; text-indent: 0.25in">&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>Legal and Operational Risks Associated with being based in China</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-align: justify; text-indent: 0.25in">PRC laws and regulations
are sometimes vague and uncertain, and therefore, these risks may result in a material change in our operations or the combined company&rsquo;s
principal operations in China, significant depreciation of the value of our or the combined company&rsquo;s securities, or a complete
hindrance of our or the combined company&rsquo;s ability to offer securities to investors and cause the value of such securities to significantly
decline or be worthless. The PRC government has significant authority to exert influence on the ability of a China-based company to conduct
its business, make or accept foreign investments or list on a U.S. stock exchange. The PRC government has recently published new policies
that significantly affected certain industries such as the education and internet industries, and we cannot rule&nbsp;out the possibility
that it will in the future release regulations or policies regarding any industry that could adversely affect us or our potential business
combination with a PRC operating business and the business, financial condition, and results of operations of the combined company. The
PRC government also recently initiated a series of regulatory actions and statements to regulate business operations in China with little
advance notice, including cracking down on illegal activities in the securities market, adopting new measures to extend the scope of
cybersecurity reviews, and expanding the efforts in anti-monopoly enforcement. Since these statements and regulatory actions are new,
it is highly uncertain how soon legislative or administrative regulation making bodies will respond and what existing or new laws or
regulations or detailed implementations and interpretations will be modified or promulgated, if any, and the potential impact such modified
or new laws and regulations will have on us or the PRC target company&rsquo;s daily business operation, the ability to accept foreign
investments and list on an U.S. or other foreign exchange. For example, according to the New Measures for Cybersecurity Review (the &ldquo;New
Measures&rdquo;) effective on February&nbsp;15, 2022, network platform operators with personal information of more than one million users
must apply for cybersecurity review to the Cyber Security Review Office when they go public abroad, and accordingly these companies may
not be willing to list on a U.S. stock exchange or enter into a definitive business combination agreement with us. We currently face
risks associated with regulatory approvals of the proposed business combination between us and the target, offshore offerings, anti-monopoly
regulatory actions, and cybersecurity and data privacy. The PRC government may also intervene with or influence our or the combined company&rsquo;s
operations as the government deems appropriate to further regulatory, political and societal goals. Any such action, once taken by the
PRC government, could result in a material change in our operations, including our search for a target business, and make it more difficult
and costly for us to consummate a business combination with a target business operating in China, result in material changes in the combined
company&rsquo;s post-combination operations and cause the value of our securities or those of the combined company&rsquo;s securities
to significantly decline, or in extreme cases, become worthless or completely hinder our ability or the ability of the combined company
to offer or continue to offer securities to investors. For a detailed description of risks associated with acquiring a company that does
business in China, see &ldquo;<B><I>Risk Factors &mdash; Risks Associated with Acquiring and Operating a Business with its Primary Operation
in China</I></B>&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; text-align: justify; text-indent: 0.25in">If we consummate our initial
business combination with a PRC target company, we may operate in the PRC primarily through our PRC subsidiaries. We may also adopt a
series of contractual arrangements with the VIEs in the PRC, in which case (i)&nbsp;the VIEs will be PRC-based operations companies and
our PRC subsidiaries will be shell companies and (ii)&nbsp;investors in our securities will not and may never directly own equity interest
in the VIEs but will instead hold equity interest in a holding company of our PRC subsidiaries. Under the VIE arrangement, the dividends
or other distributions to be paid by our PRC subsidiaries to their overseas holding company will depend on such PRC subsidiaries&rsquo;
entitlement to substantially all of the economic benefits of the VIEs, which are typically in the form of services fees or license fees
payable by the VIEs to our PRC subsidiaries under various VIE agreements. Such contractual arrangements may not be as effective as direct
ownership in respect of our relationship with the VIE and we may be adversely affected if we experience difficulties in settling the
amounts owed to our PRC subsidiaries by the VIEs. All of these contractual arrangements may be governed by and interpreted in accordance
with PRC law, and disputes arising from these contractual arrangements may be resolved in court or through arbitration in China. However,
the legal environment in the PRC is not as developed as in some other jurisdictions, such as the United States. As a result, uncertainties
in the PRC legal system could limit our ability to enforce the contractual arrangements. As at the date of this prospectus, there are
very few precedents and little official guidance as to how contractual arrangements should be interpreted or enforced under PRC law.
The contractual arrangements have not been tested in a court of law in the PRC and there remain significant uncertainties regarding the
ultimate outcome of arbitration or court decisions should legal action become necessary. See &ldquo;<B><I>Risk Factors &mdash; Risks
Associated with Acquiring and Operating a Business with its Primary Operation in China &mdash; If the PRC government deems that the contractual
arrangements in relation to the potential PRC target company, and the VIE, do not comply with PRC regulatory restrictions on foreign
investment in the relevant industries, or if these regulations or the interpretation of existing regulations change in the future, we
could be subject to severe penalties or be forced to relinquish our interests in those operations</I></B>&rdquo; for further 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"></P>

<!-- Field: Page; Sequence: 22; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in"> Currently, we are a single
entity and do not make any internal cash transfers. However, if our organizational structure expands, or if we acquire a PRC target company
which does not require a VIE structure, we may transfer funds to the PRC target company through an increase in the registered capital
of or a shareholder loan to the PRC target company. The PRC target company may in turn make distributions or pay dividends to us. If
we acquire a PRC target company which requires a VIE structure, the post-combination entity may rely on payments made from the VIE to
a wholly foreign-owned enterprise (the &ldquo;WFOE&rdquo;) and subsequently the WFOE distributes funds to the post-combination entity
as dividends, and cash to the PRC target company could be transferred through our organization in the manner as follows: (i)&nbsp;the
holding company may transfer funds to WFOE, via additional capital contributions or shareholder loans, as the case may be; and (ii)&nbsp;the
WFOE may provide loans to the PRC target company, subject to statutory limits and restrictions. If our organizational structure expands,
or if we acquire a company based in China, to the extent that we or the combined company in the future seeks to fund the business through
distributions, dividends, or transfers of funds among and between the holding company and subsidiaries, any such transfer of funds within
and among the subsidiaries will be subject to PRC regulations. Specifically, investment in Chinese companies is governed by the PRC Foreign
Investment Law, the dividends and distributions from a PRC subsidiary are subject to regulations and restrictions on dividends and payments
to parties outside of China, and any transfer of funds among the PRC subsidiaries is subject to regulations on private lending and must
be permitted thereunder. Additionally, the PRC government may impose controls on the conversion of Renminbi into foreign currencies and
the remittance of currencies out of the PRC. In order for the combined company to pay dividends to its shareholders, the combined company
will rely on payments made from the PRC subsidiaries of the combined company and the distribution of such payments to the combined company
as dividends from the PRC subsidiaries of the combined company. The dividends and distributions from a PRC subsidiary will be subject
to regulations and restrictions on dividends and payments to parties outside of China and the combined company may experience difficulties
in completing the administrative procedures necessary to obtain and remit foreign currency for the payment of dividends from its subsidiaries,
if any. See &ldquo;<B><I>Risk Factors &mdash; Risks Associated with Acquiring and Operating a Business with its Primary Operation in
China &mdash; Governmental control of currency conversion may affect the value of your investment</I></B>&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; text-align: justify; text-indent: 0.25in">Regardless of whether we
have a VIE structure or direct ownership structure post-business combination, we may depend on dividends and other distributions on equity
paid by our PRC subsidiaries for our cash and financing requirements. As at the date of this prospectus, we have not made any dividends
or distributions to our shareholders or any U.S. investors and we have not made any cash transfers as we are a blank check company with
no subsidiary. Due to (i)&nbsp;the risks of doing business in the PRC, and (ii)&nbsp;our sponsor and its affiliate(s)&nbsp;as well as
certain of our current executive officers and directors are located in or have significant ties to PRC, we may be a less attractive partner
to non-PRC based target companies as compared to a non-PRC based special purpose acquisition company (the &ldquo;SPAC&rdquo;) which may
therefore make it harder for us to complete an initial business combination with a target company that is non-PRC based and which may
therefore make it more likely for us to consummate a business combination with a target company located in the PRC. To date, we have
not pursued an initial business combination and there have not been any capital contribution or shareholder loans by us to any PRC entities,
we do not yet have any subsidiaries, and we have not received, declared or made any dividends or distributions. For a detailed description
of risks associated with acquiring a company that does business in China, see &ldquo;<B><I>Risk Factors &mdash; Risks Associated with
Acquiring and Operating a Business with its Primary Operation in China</I></B>&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; text-align: justify; text-indent: 0.25in; background-color: white">On
February&nbsp;17, 2023, the China Securities Regulatory Commission (the &ldquo;CSRC&rdquo;) promulgated the Trial Administrative Measures
of Overseas Securities Offering and Listing by Domestic Companies (the &ldquo;Trial Measures&rdquo;), which took effect on March&nbsp;31,
2023. The Trial Measures supersede prior rules&nbsp;and clarified and emphasized several aspects, which include but are not limited to:
(1)&nbsp;comprehensive determination of the &ldquo;indirect overseas offering and listing by PRC domestic companies&rdquo; in compliance
with the principle of &ldquo;substance over form&rdquo; and particularly, an issuer will be required to go through the filing procedures
under the Trial Measures if the following criteria are met at the same time: (a)&nbsp;50% or more of the issuer&rsquo;s operating revenue,
total profit, total assets or net assets as documented in its audited consolidated financial statements for the most recent accounting
year comes from PRC domestic companies, and (b)&nbsp;the main parts of the issuer&rsquo;s business activities are conducted in mainland
China, or its main places of business are located in mainland China, or the senior managers in charge of its business operation and management
are mostly Chinese citizens or domiciled in mainland China; (2)&nbsp;exemptions from immediate filing requirements for issuers that (a)&nbsp;have
already been listed or registered but not yet listed in foreign securities markets, including U.S. markets, prior to the effective date
of the Trial Measures, (b)&nbsp;are not required to re-perform the regulatory procedures with the relevant overseas regulatory authority
or the overseas stock exchange, and (c)&nbsp;whose such overseas securities offering or listing shall be completed before September&nbsp;30,
2023, provided however that such issuers shall carry out filing procedures as required if they conduct refinancing or are involved in
other circumstances that require filing with the CSRC; (3)&nbsp;a negative list of types of issuers banned from listing or offering overseas,
such as (a)&nbsp;issuers whose listing or offering overseas has been recognized by the State Council of the PRC as a possible threat to
national security, (b)&nbsp;issuers whose affiliates have been recently convicted of bribery and corruption, (c)&nbsp;issuers under ongoing
criminal investigations, and (d)&nbsp;issuers under major disputes regarding equity ownership; (4)&nbsp;issuers&rsquo; compliance with
web security, data security, and other national security laws and regulations; (5)&nbsp;issuers&rsquo; filing and reporting obligations,
such as the obligation to file with the CSRC after it submits an application for initial public offering to overseas regulators, and the
obligation after offering or listing overseas to report to the CSRC material events including a change of control or voluntary or forced
delisting of the issuer; and (6)&nbsp;the CSRC&rsquo;s authority to fine both issuers and their shareholders between 1 and 10 million
RMB for failure to comply with the Trial Measures, including failure to comply with filing obligations or committing fraud and misrepresentation.</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: 23; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in; background-color: white">We
believe we are not required to obtain permissions or approvals from any PRC government authorities, including the CSRC or the Cyberspace
Administration of China, or any other government entity, to issue our securities to foreign investors and to list on a U.S. exchange or
operate our business. As of the date of this prospectus, we have not received any inquiry, notice, warning, sanctions or regulatory objection
to this offering from the CSRC or any other PRC governmental authorities. However, if we do not maintain applicable permissions or approvals,
if we inadvertently concluded that such permissions or approvals are not required, or applicable laws, regulations, or interpretations
change and we are required to obtain such permissions or approvals in the future, and we are denied permission and/or approvals, the relevant
PRC government agencies could subject us to a stringent approval process from the relevant government entities in connection with this
offering, continued listing on a U.S. exchange, the potential business combination, the issuance of shares or the maintenance of our status
as a publicly listed company outside China, and the post business combination entity&rsquo;s PRC operations if our business combination
target is a PRC target company. We may also be subject to registration with the CSRC following this offering pursuant to the Trial Measures.
It is uncertain when and whether we will be required to obtain permission from the PRC government to continue to list on a U.S. exchange
in the future and offer our securities to foreign investors. If we do not maintain applicable permissions or approvals, if we inadvertently
concluded that such permissions or approvals are not required, or applicable laws, regulations, or interpretations change and we are required
to obtain such permissions or approvals in the future, including pursuant to the Trial Measures, and we are denied permission and/or approvals
from Chinese authorities to list on U.S. exchanges or offer our securities to foreign investors, we may not be able to continue listing
on a U.S. exchange or be subject to other severe consequences, which would materially affect the interest of the investors. In addition,
any changes in PRC law, regulations, or interpretations may severely affect our operations after this offering. The use of the term &ldquo;operate&rdquo;
and &ldquo;operations&rdquo; includes the process of searching for a target business and conducting related activities. To that extent,
we may not be able to conduct the process of searching for a potential target company in China.</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; text-indent: 0.25in; background-color: white">For
a detailed description of risks associated with the cash transfers, see &ldquo;<B><I>Transfers of Cash to and from our Subsidiaries</I></B>&rdquo;
on page&nbsp;130 and &ldquo;<B><I>Risk Factors &mdash; Risks Associated with Acquiring and Operating a Business with its Primary Operation
in China</I></B>&rdquo; under the subheadings &ldquo;<B><I>Cash-Flow Structure of a Company Based in China</I></B>&rdquo; on page&nbsp;80
and &ldquo;<B><I>Exchange controls that exist in the PRC may restrict or prevent us from using the proceeds of this offering to acquire
a target company in the PRC and limit our ability to utilize our cash flow effectively following our initial business combination</I></B>&rdquo;
on page&nbsp;81. To date, we have not pursued an initial business combination and there have not been any capital contribution or shareholder
loans by us to any PRC entities, we do not yet have any subsidiaries, and we have not received, declared or made any dividends or distributions.</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; text-indent: 0.25in">Pursuant to the Holding Foreign
Companies Accountable Act (the &ldquo;HFCAA&rdquo;), the United States Public Company Accounting Oversight Board (the &ldquo;PCAOB&rdquo;)
issued a Determination Report on December&nbsp;16, 2021 which found that the PCAOB is unable to inspect or investigate completely registered
public accounting firms headquartered in (1)&nbsp;mainland China of the PRC because of a position taken by one or more authorities in
mainland China and (2)&nbsp;Hong Kong, a Special Administrative Region and dependency of the PRC, because of a position taken by one or
more authorities in Hong Kong. In addition, the PCAOB&rsquo;s report identified the specific registered public accounting firms which
are subject to these determinations. On August&nbsp;26, 2022, the PCAOB signed a Statement of Protocol (&ldquo;SOP&rdquo;) with the China
Securities Regulatory Commission (the &ldquo;CSRC&rdquo;) and the Ministry of Finance of the PRC, taking the first step toward opening
access for the PCAOB to inspect and investigate registered public accounting firms headquartered in mainland China and Hong Kong completely,
consistent with U.S. law. Pursuant to the SOP, the PCAOB shall have independent discretion to select any issuer audits for inspection
or investigation and has the unfettered ability to transfer information to the SEC. However, uncertainties still exist as to whether the
applicable parties, including governmental agencies, will fully comply with the framework.</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: 24; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">Depending on the implementation
of the SOP, if the PCAOB continues to be prohibited from conducting complete inspections and investigations of PCAOB-registered public
accounting firms in China, then China- based companies will be delisted pursuant to the HFCA Act despite the SOP. Therefore, there is
no assurance that the SOP could give relief to China-based companies against the delisting risk from the application of the HFCAA or the
Accelerating Holding Foreign Companies Accountable Act (the &ldquo;AHFCAA&rdquo;). Our independent accountant, WWC, P.C. (&ldquo;WWC&rdquo;),
is a United States accounting firm based in California and is subject to regular inspection by the PCAOB. WWC was not identified in the
Determination Report as a firm subject to the PCAOB&rsquo;s determinations. As a SPAC, our current business activities only involve preparation
of this offering and will involve searching for targets and consummation of a business combination following 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; text-align: justify; text-indent: 0.25in">In the event that we decide
to consummate our initial business combination with a target business based in or primarily operating in China, if there is any regulatory
change which prohibits the independent accountants from providing audit documentations located in mainland China or Hong Kong to the
PCAOB for inspection or investigation or the PCAOB expands the scope of the Determination Report so that the target company or the combined
company is subject to the HFCAA, as the same may be amended, you may be deprived of the benefits of such inspection. This could limit
or restrict our access to the U.S. capital markets and the trading of our securities on a national securities exchange or in the over-the-counter
trading market in the U.S. may be prohibited and our securities may be delisted by such exchange under the HFCAA. Additionally, in June&nbsp;2021,
the Senate passed the AHFCAA which, if signed into law, would reduce the time period for the delisting of foreign companies under the
HFCAA to two consecutive years instead of three years. If the combined company&rsquo;s auditor cannot be inspected by the PCAOB for two
consecutive years, the trading of the securities on any U.S. national securities exchanges as well as any over-the-counter trading in
the U.S. will be prohibited and our securities may be delisted by such exchange. See &ldquo;<B><I>Risk Factors &mdash; Risks Associated
with Acquiring and Operating a Business with its Primary Operation in China &mdash; Trading in our securities may be prohibited under
the HFCAA if the PCAOB determines that it cannot inspect or fully investigate our auditor. In that case, Nasdaq would delist our securities.
The delisting of our securities, or the threat of their being delisted, may materially and adversely affect the value of your investment.
Additionally, the inability of the PCAOB to conduct inspections may deprive our investors with the benefits of such inspections</I></B>&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>Other Acquisition Considerations</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-align: justify; text-indent: 0.25in">We are not prohibited from
pursuing an initial business combination with a company that is affiliated with our sponsor, officers or directors. In the event we seek
to complete our initial business combination with a company that is affiliated with our sponsor, officers or directors, we, or a committee
of independent directors, will obtain an opinion from an independent investment banking firm or another independent firm that commonly
renders valuation opinions or from an independent accounting firm that our 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Our sponsor,
officers, and directors have agreed that we will have only 12 months from the closing of this offering (or up to 18 months from the
closing of this offering if we extend the period of time to consummate a business combination by the full amount of time without
shareholder approval) to complete our initial business combination. If we are unable to complete our initial business combination
within such 12-month period (or up to 18 months from the closing of this offering if we extend the period of time to consummate a
business combination by the full amount of time), 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 (which
interest shall be net of taxes payable, and less up to $200,000 of interest to pay dissolution expenses) divided by the number of
then outstanding public shares, which redemption will completely extinguish public shareholders&rsquo; rights as shareholders
(including the right to receive further liquidation 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 shareholders and our Board of Directors,
liquidate and dissolve, subject in each case to our obligations under British Virgin Islands 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
public rights or private placement rights. The rights will expire worthless if we fail to complete our initial business combination
within the 12-month time period (or up to 18 months from the closing of this offering if we extend the period of time to consummate
a business combination by the full amount of time). However, we may hold a shareholder vote at any time to amend our amended and
restated memorandum and articles of association, to modify the amount of time we will have to consummate an initial business
combination (as well as to modify the substance or timing of our obligation to redeem 100% of our public shares or with respect to
any other material provisions relating to shareholders&rsquo; rights or pre-initial business combination activity). </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: 25; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">Unless we complete our initial
business combination with an affiliated entity, or our Board of Directors 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, another independent
firm that commonly renders valuation opinions or from an independent accounting firm that the price we are paying for a target is fair
to our company from a financial point of view. If no opinion is obtained, our shareholders will be relying on the business judgment of
our Board of Directors, which will have significant discretion in choosing the standard used to establish the fair market value of the
target or targets, and different methods of valuation may vary greatly in outcome from one another. Such standards used will be disclosed
in our tender offer documents or proxy solicitation materials, as applicable, related to our initial business combination.</P>

<P STYLE="font: 10pt 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; text-indent: 0.25in">Members of our management
team may directly or indirectly own our Class&nbsp;A ordinary shares and/or private placement units 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 was 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Our sponsor and its affiliates(s)&nbsp;as
well as our directors and officers presently have, and in the future any of our sponsor and its affiliate(s), our directors and our officers
may have additional, fiduciary or contractual obligations to other entities pursuant to which such sponsor, affiliate(s), officer or
director is or will be required to present acquisition opportunities to such entity. Accordingly, subject to his or her fiduciary duties
under British Virgin Islands law, if any of our officers or directors becomes aware of an acquisition opportunity which is suitable for
an entity to which he or she has then current fiduciary or contractual obligations, he or she will need to honor his or her fiduciary
or contractual obligations to present such acquisition opportunity to such entity, and only present it to us if such entity rejects the
opportunity. Our amended and restated memorandum and articles of association will provide that, subject to his or her fiduciary duties
under British Virgin Islands law, we renounce our interest or expectancy in any corporate opportunity offered to any officer or director
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 complete on a reasonable basis. We do not believe, however, that
any fiduciary duties or contractual obligations of our directors or officers would materially undermine our ability to complete our business
combination. For example, Claudius Tsang, our Chief Executive Officer, Chief Financial Officer and Chairman, currently also serves as
Chief Financial Officer of ASCB, a SPAC incorporated for the purposes of effecting a business combination. ASCB completed its initial
public offering in May 5, 2022, generating gross proceeds of $200,000,000. As of the date of this prospectus, ASCB is in search of business
combination targets. Because ASCB has not identified a target business, Mr. Tsang has a pre-existing fiduciary obligation to present
potential target businesses to ASCB, and will therefore present any potential target businesses to it prior to presenting them to us.
Although both ASCB and our company are considering targets with an ESG angle, ASCB is searching for prospective targets that are in high-growth
industries applying cutting edge technologies in the New Economy Sectors, whereas we are initially also considering companies in the
material technology sector. Furthermore, ASCB is initially searching for potential targets with an enterprise value of $800 million to
$2 billion whereas we are looking at potential targets with an enterprise value of $100 million to $600 million. </P>

<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; text-align: justify; text-indent: 0.25in"> Our directors and officers
are also not required to commit any specified amount of time to our affairs, and, accordingly, will have conflicts of interest in allocating
management time among various business activities, including identifying potential business combinations and monitoring the related due
diligence. In addition, our sponsor, along with its affiliates, promoters, officers, and directors, currently participate, and may in
the future participate, in the formation or sponsorship of other SPAC similar to ours, or engage in other business or investment ventures
during our pursuit of an initial business combination. Despite these activities, our officers and directors will maintain their existing
fiduciary duty to us, and we will retain priority over any subsequent SPACs or ventures they may join. See &ldquo;<B><I>Risk Factors
 &mdash; Our Sponsor and its affiliate(s), and 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 determining to which entity a particular business opportunity should be presented.</I></B>&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>Initial Business Combination</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-align: justify; text-indent: 0.25in">NASDAQ rules&nbsp;require
that our initial business combination must be with one or more target businesses that together have an aggregate fair market value equal
to at least 80% of the balance in the trust account (less any taxes payable on interest earned and less any interest earned thereon that
is released to us for taxes) at the time of our signing a definitive agreement in connection with our initial business combination. If
our Board of Directors is not able to independently determine the fair market value of the target business or businesses, we will obtain
an opinion from an independent investment banking firm or another independent firm that commonly renders valuation opinions or from an
independent accounting firm. We do not intend to purchase multiple businesses in unrelated industries in conjunction 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; text-align: justify; text-indent: 0.25in"> We will have until
12 months from the closing of this offering to consummate an initial business combination. However, if we anticipate that we may not
be able to consummate our initial business combination within 12 months, we may extend the period of time to consummate a business
combination up to two times, each by an additional three months (for a total of up to 18 months to complete a business combination)
without shareholder approval. We may hold a shareholder vote at any time to amend our amended and restated memorandum and articles
of association, to modify the amount of time we will have to consummate an initial business combination (as well as to modify the
substance or timing of our obligation to redeem 100% of our public shares if we have not consummated an initial business combination
or with respect to any other material provisions relating to shareholders&rsquo; rights or pre-initial business combination
activity). 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 memorandum and articles of association that would (i)&nbsp;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 12 months from the
closing of this offering&nbsp;(or up to 18 months from the closing of this offering if we extend the period of time to consummate a
business combination by the full amount of time without shareholder approval) or (ii)&nbsp;with respect to the other provisions
relating to shareholders&rsquo; rights or pre-business combination activity, unless we provide our public shareholders with the
opportunity to redeem their Class&nbsp;A ordinary shares 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. Maxim (and its designees), 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
their founder shares, Representative&rsquo;s Shares and public shares in connection with the completion of our initial business
combination. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Upon the closing of this
offering, assuming no exercise of the underwriter&rsquo;s over-allotment option, our sponsor will have invested in us an aggregate of
$2,825,000, comprised of the $25,000 purchase price for the founder shares and the $2,800,000 purchase price for the private placement
units. There will be no redemption rights or liquidating distributions from the trust account with respect to the founder shares, private
placement shares, private placement units or private placement rights. Accordingly, if we do not complete our initial business combination
within the completion window, the private placement securities and founder shares will expire worthless. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Pursuant to the
terms of our amended and restated memorandum and articles of association and the trust agreement to be entered into between us and
Continental Stock Transfer&nbsp;&amp; Trust Company on the date of this prospectus; in order to extend the time available for us to
consummate our initial Business Combination, the Sponsor or its affiliates or designees, upon two days advance notice prior to the
applicable deadline, may deposit into the Trust Account $550,000, or up to $632,500 if the underwriters&rsquo; over-allotment option
is exercised in full ($0.10 per share in either case) on or prior to the date of the applicable deadline, for each three month
extension (or up to an aggregate of $1,100,000 (or $1,265,000 if the underwriters&rsquo; over-allotment option is exercised in
full), or $0.20 per share if the Company extends for the full six months). Any such payments would be made in the form of a loan.
Any such loans will be non-interest bearing and payable upon the consummation of our initial business combination. If we complete
our initial business combination, we would repay such loaned amounts out of the proceeds of the trust account released to us. 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. Neither 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. In the event that the initial business
combination does not close, the company may use a portion of the working capital held outside the trust account to repay such loaned
amounts but no proceeds from the trust account would be used for such repayment. Up to $1,150,000 of such loans may be convertible
into units at a price of $10.00 per unit at the option of the lender. If we do not complete a business combination, we will not
repay such loans. Furthermore, the letter agreement with our initial shareholder contains a provision pursuant to which our sponsor
has agreed to waive its right to be repaid for such loans out of the funds held in the trust account in the event that we do not
complete a business combination. Our sponsor and its affiliates or designees are not obligated to fund the trust account to extend
the time for us to complete our initial business combination. You will not be able to vote on or redeem your shares in connection
with business combination, our sponsor or its affiliates or designees, upon two days advance notice prior to the applicable
deadline, must deposit into the trust account $550,000, or up to $632,500 if the underwriters over-allotment option is exercised in
full ($0.10 per share in either case) on or prior to the date of the applicable deadline, for each three month extension (or up to
an aggregate of $1,100,000 (or $1,265,000 if the underwriters over-allotment option is exercised in full), or $0.20 per share if we
extend for the full six months). However, we may hold a shareholder vote at any time to amend our amended and restated memorandum
and articles of association, to modify the amount of time we will have to consummate an initial business combination (as well as to
modify the substance or timing of our obligation to redeem 100% of our public shares or with respect to any other material
provisions relating to shareholders&rsquo; rights or pre-initial business combination activity). </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: 26; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in"> If we are unable to consummate
an initial business combination within such time period, we will, as promptly as reasonably possible but not more than ten business days
thereafter, redeem 100% of the outstanding public shares, at a per-share price, payable in cash, equal to the aggregate amount then on
deposit in the trust account, including any interest earned on the funds held in the trust account (net of interest that may be used
by us to pay our taxes payable and less up to $200,000 of interest to pay for dissolution expenses), divided by the number of then outstanding
public shares, which redemption will completely extinguish public shareholders&rsquo; rights as shareholders (including the right to
receive further liquidation distributions, if any), subject to applicable law and as further described herein, and then seek to dissolve
and liquidate. We expect the pro rata redemption price to be approximately $10.00 per public share (regardless of whether or not the
underwriters exercise their over-allotment option) (subject to increase of up to an additional $0.20 per share in the event that our
sponsor elects to extend the period of time to consummate a business combination by the full six months), without taking into account
any interest earned on such funds. However, we cannot assure you that we will in fact be able to distribute such amounts as a result
of claims of creditors which may take priority over the claims of our public shareholders. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">We anticipate structuring
our initial business combination so that the post-transaction company in which our public shareholders own shares will own or acquire
100% of the equity interests or assets of the target business or businesses. We may, however, structure our initial business combination
such that the post-transaction company owns 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 shareholders or for other reasons, 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 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 shareholders prior to the business combination may collectively own a minority interest in the post-transaction
company, depending on valuations ascribed to the target and us in the business combination transaction. For example, we could pursue a
transaction in which we issue a substantial number of new shares in exchange for all of the outstanding capital stock of a target. In
this case, we would acquire a 100% controlling interest in the target. However, as a result of the issuance of a substantial number of
new shares, our shareholders immediately prior to our initial business combination could own less than a majority of our outstanding shares
subsequent to our initial business combination. If less than 100% of the equity interests or assets of a target business or businesses
are owned or acquired by the post-transaction company, the portion of such business or businesses that is owned or acquired is what will
be valued for purposes of the 80% of net assets test. If our initial business combination involves more than one target business, the
80% of net assets test will be based on the aggregate value of all of the 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; text-align: justify; text-indent: 0.25in">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&nbsp;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">&nbsp;</P>

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

<!-- Field: Page; Sequence: 27; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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">Additional Financing</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; text-indent: 0.25in"> We have not selected
any specific business combination target but intend to target businesses with enterprise values that are greater than what we could acquire
with the net proceeds of this offering and the sale of the private placement units. As a result, if the cash portion of the purchase
price exceeds the amount available from the trust account, net of amounts needed to satisfy any redemption by public shareholders, we
may be required to seek additional financing to complete such proposed initial business combination. Such additional financing may be
in the form of PIPE transactions or convertible debt transactions. These financing transactions would be designed to ensure a return
on investment to the investor in exchange for assisting the company in completing the business combination or providing sufficient liquidity
to the post-combination company. These financing transactions may be significantly dilutive to the post-combination company, and represent
the type of financing risk that is not associated with traditional initial public offerings. We cannot assure you that financing will
be available to us on acceptable terms, if at all. None of our initial shareholders, directors or officers or their affiliates are obligated
to provide any such financing to us. 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. </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; text-indent: 0.25in">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 directors, officers or shareholders is required to provide any financing to us in connection with or after 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; text-align: center"><B>Potential Conflicts</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: justify; text-indent: 0.25in"> Our sponsor and its affiliates(s)&nbsp;as
well as our directors and officers presently have, and in the future any of our sponsor and its affiliate(s), our directors and our officers
may have additional, fiduciary or contractual obligations to other entities pursuant to which such sponsor, affiliate(s), officer or
director is or will be required to present acquisition opportunities to such entity. Accordingly, subject to his or her fiduciary duties
under British Virgin Islands law, if any of our officers or directors becomes aware of an acquisition opportunity which is suitable for
an entity to which he or she has then current fiduciary or contractual obligations, he or she will need to honor his or her fiduciary
or contractual obligations to present such acquisition opportunity to such entity, and only present it to us if such entity rejects the
opportunity. Our amended and restated memorandum and articles of association will provide that, subject to his or her fiduciary duties
under British Virgin Islands law, we renounce our interest or expectancy in any corporate opportunity offered to any officer or director
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 complete on a reasonable basis. We do not believe, however, that
any fiduciary duties or contractual obligations of our directors or officers would materially undermine our ability to complete our business
combination. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> For example,
Claudius Tsang, our Chief Executive Officer, Chief Financial Officer and Chairman, currently also serves as Chief Financial Officer
of A SPAC II Acquisition Corp (ASCB)., a special purpose acquisition company incorporated for the purposes of effecting a business
combination. ASCB completed its initial public offering in May 5, 2022, generating gross proceeds of $200,000,000. As of the date of
this prospectus, ASCB is in search of business combination targets. Because ASCB has not identified a target business, Mr. Tsang has
a pre-existing fiduciary obligation to present potential target businesses to ASCB, and will therefore present any potential target
businesses to it prior to presenting them to us or to JVSPAC (as described below). Although both ASCB and our company are
considering targets with an ESG angle, ASCB is searching for prospective targets that are in high-growth industries applying cutting
edge technologies in the New Economy Sectors, whereas we are also initially considering companies in the material technology sector.
Furthermore, ASCB is initially searching for potential targets with an enterprise value of $800 million to $2 billion whereas we are
looking at potential targets with an enterprise value of $100 million to $600 million. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> In April 2021, Mr. Claudius
Tsang was a member of the founding team of JVSPAC Acquisition Corp. (&ldquo;JVSPAC&rdquo;), a special purpose acquisition company incorporated
for the purposes of effecting a business combination. Mr. Tsang has served as the Chief Financial Officer since June 2021, as a director
since January 2024 and as Chief Executive Officer from April 2021 to June 2021 of JVSPAC. JVSPAC completed its initial public offering
in January 23, 2024, generating gross proceeds of $57,500,000. On April 8, 2024, JVSPAC announced that it had entered into an agreement
and plan of merger with Hotel101 Global Pte. Ltd and its affiliates (&ldquo;HOTEL101&rdquo;), a hotel prop-tech operator. In the event
that JVSPAC is unable to consummate the business combination with HOTEL101 and needs to identify a target business, Mr. Tsang has a pre-existing
fiduciary obligation to present potential target businesses to JVSPAC, and will therefore present any potential target businesses to
it prior to presenting them to us. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> In addition, our sponsor,
officers and directors are now, and may in the future, sponsor or participate in the formation of, or become sponsors, an officer or
director of, any other special purpose acquisition companies similar to ours or may pursue other business or investment ventures during
the period in which we are seeking an initial business combination. Any such companies, businesses or investments, may present additional
conflicts of interest in determining to which entity a particular business opportunity should be presented, in pursuing an initial business
target and in allocating their time to devote to our affairs. Although we have no formal policy in place for vetting potential conflicts
of interest, our Board of Directors will review any potential conflicts of interest on a case-by-case basis. In particular, our officers
and directors, and affiliates of our officers and directors, are currently sponsoring other blank check companies, and may look for an
acquisition target in any location, has a window in which it may complete its initial business combination that overlaps the corresponding
window we have. However, we do not believe that any such potential conflicts would materially affect our ability to complete our initial
business combination, because our management team has experience in identifying and executing multiple acquisition opportunities simultaneously. </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; text-indent: 0.25in"> 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">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT> </TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt">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.</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT> </TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt">In the course
    of their other business activities, our officers and directors may become aware of investment and business opportunities which may
    be appropriate for presentation to us as well as the other entities with which they are affiliated. Our management may have conflicts
    of interest in determining to which entity a particular business opportunity should be presented. For a complete description of our
    management&rsquo;s other affiliations, see &ldquo;<B><I>Management &mdash; Directors and Officers</I></B>.&rdquo;</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT> </TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt">Maxim (and
    its designees), our sponsor, officers and directors have agreed to waive their redemption rights with respect to our founder shares,
    Representative&rsquo;s Shares and public shares in connection with the consummation of our initial business combination. Additionally,
    Maxim (and its designees), our sponsor, officers and directors have agreed to waive their redemption rights with respect to their
    founder shares if we fail to consummate our initial business combination within 12 months after the closing of this offering (or
    up to 18 months from the closing of this offering if we extend the period of time to consummate a business combination by the full
    amount of time without shareholder approval). If we do not complete our initial business combination within such applicable time
    period, the proceeds of the sale of the private placement units held in the trust account will be used to fund the redemption of
    our public shares and rights will expire worthless. With certain limited exceptions, the founder shares will not be transferable,
    assignable or salable by our sponsor until the earlier of (1)&nbsp;six months after the completion of our initial business combination
    and (2)&nbsp;the date on which we consummate a liquidation, merger, share exchange, reorganization, or other similar transaction
    after our initial business combination that results in all of our shareholders having the right to exchange their ordinary shares
    for cash, securities or other property. Notwithstanding the foregoing, if the last sale price of our Class&nbsp;A ordinary shares
    equals or exceeds $12.00 per share (as adjusted for share splits, share capitalizations, rights issuances, subdivisions, reorganizations,
    recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing after our initial business combination,
    the founder shares will be released from the lock-up. With certain limited exceptions, the private placement units, private placement
    shares, private placement rights and the Class&nbsp;A ordinary shares underlying such rights will not be transferable, assignable
    or salable by our sponsor until the completion of our initial business combination. </FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT> </TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-size: 10pt">Since our
    sponsor and officers and directors may directly or indirectly own ordinary shares&nbsp;and rights 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.</FONT> </TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT> </TD>
    <TD STYLE="vertical-align: top; text-align: justify"> <FONT STYLE="font-size: 10pt">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 was included by a target business as a condition to any agreement with respect
    to our initial business combination.</FONT> </TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT> </TD>
    <TD STYLE="vertical-align: top; text-align: justify"> <FONT STYLE="font-size: 10pt">If an initial business combination is not completed,
    the Company will be required to liquidate. In such event, (i) 1,375,000 Class B ordinary shares (or 1,581,250 Class B ordinary shares
    if the underwriters&rsquo; over-allotment option is exercised in full) held by the sponsor, which were acquired by the sponsor prior
    to this Offering for an aggregate purchase price of approximately $0.02, or $25,000 in the aggregate, and (ii) all 280,000 Private
    Placement Units (or 288,250 Private Placement Units if the underwriters&rsquo; over-allotment option is exercised in full) (including
    component securities contained therein) to be purchased by the sponsor in a private placement that will close simultaneously with
    the closing of this Offering, for an aggregate purchase price of $10.00 per units, or $2,800,000 in the aggregate, will be worthless
    because the sponsor is not entitled to participate in any redemption of distribution from the Trust Account with respect to such
    securities.&nbsp;&nbsp;The sponsor, its affiliates, or promoters, and members of our management team waived their redemption rights
    and liquidation rights in connection with the purchase of the founder shares and the Private Placement Units and no other consideration
    was paid for such agreement. Since our sponsor, its affiliates and promoters, 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.</FONT> </TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT> </TD>
    <TD STYLE="vertical-align: top; text-align: justify"> <FONT STYLE="font-size: 10pt">Our sponsor intends to transfer an aggregate
    of 60,000 of its founder shares, or 20,000 each to our three independent directors, at the closing of this Offering. Accordingly,
    if we do not complete our initial business combination, such founder shares will expire worthless.</FONT> </TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> &nbsp; </TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> <FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT> </TD>
    <TD STYLE="vertical-align: top; text-align: justify"> <FONT STYLE="font-size: 10pt">The sponsor may make loans from time to time
    to the Company to fund certain capital requirements. If our sponsor makes any working capital loans, up to $1,150,000 of such loans
    may be converted into units, at the price of $10.00 per unit at the option of the lender. Such units would be identical to the private
    placement units. Since we will not repay such loans if we do not complete a business combination, a conflict of interest may arise.
    &nbsp;</FONT> </TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 95%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 1pt">&nbsp;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> We are not prohibited
from pursuing an initial business combination with a company that is affiliated with our sponsor, officers or directors. 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 another independent firm that commonly renders valuation opinions or from an independent
accounting firm, 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 shareholders for a vote, Maxim (and its designees), our sponsor, its affiliates
or promoters, officers and directors have agreed (and their permitted transferees will agree), pursuant to the terms of a letter agreement
entered into with us, to vote any founder shares, private placement shares and Representative&rsquo;s Shares held by them (and their
permitted transferees will agree) in favor of our initial business combination. </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; text-indent: 0.25in"> Our insiders, officers,
directors and their affiliates may incur out-of-pocket expenses in connection with certain activities on our behalf, such as identifying
and investigating possible business targets and combinations. We have no policy that would prohibit these individuals and their affiliates
from negotiating the reimbursement of such expenses by a target business. As a result, the personal and financial interests of such individuals
may influence their motivation in identifying and selecting a target business. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Our sponsor, its affiliates,
or promoters and members of our management team will directly or indirectly own ordinary shares, or other instruments, such as rights,
linked to our ordinary shares, 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 was 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Upon the closing of this
offering, assuming no exercise of the underwriter&rsquo;s over-allotment option, our sponsor will have invested in us an aggregate of
$2,825,000, comprised of the $25,000 purchase price for the founder shares and the $2,800,000 purchase price for the private placement
units. Assuming a trading price of $10.00 per share upon consummation of our initial business combination, the 1,375,000 founder shares
would have an aggregate implied value of $13,750,000. Even if the trading price of our Class A Ordinary Shares was as low as approximately
$1.64 per share, the value of the founder shares and private placement units would be equal to the sponsor&rsquo;s initial investment
in us, assuming no over allotment. As a result, our sponsor is likely to be able to recoup its investment in us and make a substantial
profit on that investment, even if our public shares have lost significant value. Accordingly, our management team, which owns interests
in our sponsor, may have an economic incentive that differs from that of the public shareholders to pursue and consummate an initial
business combination rather than to liquidate and to return all of the cash in the trust to the public shareholders, even if that business
combination were with a riskier or less-established target business. For the foregoing reasons, you should consider our management team&rsquo;s
financial incentive to complete an initial business combination when evaluating whether to redeem your shares prior to or in connection
with the initial business combination. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Further, our sponsor,
insiders, officers, directors and their affiliates may incur out-of-pocket expenses in connection with certain activities on our behalf,
such as identifying and investigating possible business targets and combinations. We have no policy that would prohibit these individuals
and their affiliates from negotiating the reimbursement of such expenses by a target business. As a result, the personal and financial
interests of such individuals may influence their motivation in identifying and selecting a target business. </P>

<P STYLE="font: 10pt 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; text-indent: 0.25in">Our officers and directors
have agreed to present to us all target business opportunities that have a fair market value of at least 80% of the assets held in the
trust account, subject to any fiduciary or contractual obligations they may have. As more fully discussed in &ldquo;<B><I>Management
 &mdash; Conflicts of Interest</I></B>,&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 fiduciary or contractual obligations, he or
she may be required to present such initial business combination opportunity to such entity prior to presenting such initial business
combination opportunity to us, subject to his or her fiduciary duties under British Virgin Islands law. All of our officers currently
have certain relevant fiduciary duties or contractual obligations that may take priority over their duties to us. For more information
on the relevant pre-existing fiduciary duties or contractual obligations of our management team, see the section titled &ldquo;<B><I>Management&nbsp;&mdash;
Conflicts of Interest</I></B>.&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; text-align: center"><B>Corporate Information</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-align: justify; text-indent: 0.25in">Our executive offices are located at The Sun&rsquo;s
Group Center, 29th Floor, 200 Gloucester Road, Wan Chai Hong Kong and our telephone number is +852 9258 9728.</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; text-indent: 0.25in"> We are an &ldquo;emerging
growth company,&rdquo; as defined in Section&nbsp;2(a)&nbsp;of the Securities Act of 1933, as amended, or the Securities Act, as modified
by the Jumpstart Our Business Startups Act of 2012, or the JOBS Act. As such, we are eligible to take advantage of certain exemptions
from various reporting requirements that are applicable to other public companies that are not &ldquo;emerging growth companies&rdquo;
including, but not limited to, not being required to comply with the auditor attestation requirements of Section&nbsp;404 of the Sarbanes-Oxley
Act of 2002, or the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in our periodic reports and proxy
statements, and exemptions from the requirements of holding a non-binding advisory vote on executive compensation and shareholder 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">&nbsp;</P>

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

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

<!-- Field: Page; Sequence: 28; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">We will remain an emerging
growth company until the earlier of (1)&nbsp;the last&nbsp;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 $1.235 billion, or (c)&nbsp;in which we are deemed
to be a large accelerated filer, which means the market value of our ordinary shares that are held by non-affiliates exceeds $700 million
as of the end of that year&rsquo;s second fiscal quarter; and (2)&nbsp;the date on which we have issued more than $1.00 billion in non-convertible
debt securities during the prior three-year period. References herein to &ldquo;emerging growth company&rdquo; shall have the meaning
associated with it in the JOBS Act.</P>

<P STYLE="font: 10pt 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; text-indent: 0.25in">Additionally, we are a &ldquo;smaller
reporting company&rdquo; as defined in Item 10(f)(1)&nbsp;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 ordinary shares held by non-affiliates
exceeds $250 million as of the end of that year&rsquo;s second fiscal quarter, or (2)&nbsp;our annual revenues exceeded $100 million during
such completed fiscal year and the market value of our ordinary shares held by non-affiliates exceeds $700 million as of the end of that
year&rsquo;s second fiscal quarter.</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: 29; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>THE OFFERING</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-align: justify; text-indent: 0.25in"><B><I>In making your decision
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 below entitled &ldquo;Risk Factors&rdquo;
beginning on page&nbsp;38 of this prospectus.</I></B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Securities offered</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,500,000 units, at $10.00 per unit, each unit consisting of:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 28%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 7%; padding-left: 12pt; text-indent: -12pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 64%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">one Class&nbsp;A ordinary share; and</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 12pt; text-indent: -12pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 12pt; text-align: justify; text-indent: -12pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">one right to receive one-fourth (1/4) of one Class&nbsp;A ordinary share upon the consummation of our initial business combination.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&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">Proposed
    NASDAQ symbols</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD COLSPAN="2"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"> Units: &ldquo;ASPCU&rdquo; </P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD COLSPAN="2"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"> Class&nbsp;A Ordinary Shares: &ldquo;ASPC&rdquo; </P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD COLSPAN="2"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD COLSPAN="2"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"> Rights: &ldquo;ASPCR&rdquo; </P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&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">Trading commencement and separation of Class&nbsp;A ordinary shares and rights</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The units will begin trading promptly after the date of this prospectus. The Class&nbsp;A ordinary shares and rights comprising the units will begin separate trading on the 52nd&nbsp;day following the date of this prospectus unless Maxim 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. Once the Class&nbsp;A ordinary shares and rights 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 Class&nbsp;A ordinary shares and rights.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&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">Separate trading of the Class&nbsp;A ordinary shares and rights is prohibited until we have filed a Current Report on Form&nbsp;8-K</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In no event will the Class&nbsp;A ordinary shares and rights be traded separately until we have filed with the SEC a Current Report on Form&nbsp;8-K which includes an audited balance sheet reflecting our receipt of the gross proceeds 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">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Units:</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Number outstanding before this offering</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Number outstanding after this offering and the private placement</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,780,000<SUP>1</SUP></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; width: 28%; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Ordinary shares:</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 71%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Number issued and outstanding before this offering</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,581,250 Class&nbsp;B ordinary shares<SUP>2,4</SUP></FONT></TD></TR>
</TABLE>

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

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

<!-- Field: Page; Sequence: 30; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-indent: -10pt; width: 28%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 71%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Number issued and outstanding after this offering and the private placement</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,402,500 Class&nbsp;A ordinary shares<SUP>3,4</SUP></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Rights:</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Number issued and outstanding before this offering</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Number issued and outstanding after this offering and the private placement</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,780,000 rights<SUP>1</SUP></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></TD>
    <TD STYLE="width: 95%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assumes no exercise of the underwriters&rsquo; over-allotment option and the forfeiture by our sponsor of 206,250 founder shares.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2</FONT></TD>
    <TD STYLE="width: 95%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consists solely of founder shares and includes up to 206,250 Class&nbsp;B ordinary shares that are subject to forfeiture by our sponsor depending on the extent to which the underwriters&rsquo; over-allotment option is exercised. </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3</FONT></TD>
    <TD STYLE="width: 95%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes 5,500,000 public shares, 1,375,000 Class&nbsp;B ordinary shares underlying the founder shares, 280,000 private placement shares underlying the private placement units and 247,500 Class&nbsp;A ordinary shares to be issued to Maxim and/or its designees, which we refer to as the Representative&rsquo;s shares (the &ldquo;Representative&rsquo;s Shares&rdquo;).</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4</FONT></TD>
    <TD STYLE="width: 95%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Founder shares
    are classified as Class&nbsp;B ordinary shares, which shares will convert into Class&nbsp;A ordinary shares on a one-for-one basis,
    subject to adjustment as described below adjacent to the caption &ldquo;<B><I>Founder shares conversion and anti-dilution</I></B>.&rdquo;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 28%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Terms of Rights</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 71%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Except in cases where we are not the surviving company in a business combination, each holder of a right will automatically receive one-fourth (1/4) of one Class&nbsp;A ordinary share upon consummation of our initial business combination. We will not issue fractional shares in connection with an exchange of rights. Fractional shares will either be rounded down to the nearest whole share or otherwise addressed in accordance with the applicable provisions of British Virgin Islands law. As a result, you must hold rights in multiples of four (4)&nbsp;in order to receive shares for all of your rights upon closing of a business combination. In the event we will not be the surviving company upon completion of our initial business combination, each holder of a right will be required to affirmatively convert his, her or its rights in order to receive the one-fourth (1/4) of one Class&nbsp;A ordinary share underlying each right upon consummation of the business combination. If we are unable to complete an initial business combination within the required time period and we redeem the public shares for the funds held in the trust account, holders of rights will not receive any of such funds for their rights and the rights will expire worthless.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 28%; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Election of directors; voting rights</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 71%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior to our initial business combination, only holders of our founder shares will have the right to vote on the election of directors. Holders of our public shares will not be entitled to vote on the election of directors during such time. These provisions of our amended and restated memorandum and articles of association may only be amended by a resolution passed by holders of at least a majority of ordinary shares of that class that have voted and are entitled to vote thereon. With respect to any other matter submitted to a vote of our shareholders, including any vote in connection with our initial business combination, except as required by law, holders of our founder shares and holders of our public shares will vote together as a single class, with each share entitling the holder to one vote.</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"></P>

<!-- Field: Page; Sequence: 31; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>

<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="padding-left: 10pt; text-indent: -10pt; width: 28%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Founder
    shares</FONT> </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="text-align: justify; width: 71%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On September&nbsp;3,
    2021, we issued to our sponsor 1,437,500 founder shares for an aggregate purchase price of $25,000, or approximately $0.017 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
    purchase price of the founder shares was determined by dividing the amount of cash contributed to us by the number of founder shares
    issued. On July&nbsp;23, 2024, we issued to our sponsor 1,581,250 founder shares for an aggregate purchase price of $25,000, or approximately
    $0.016 per share, and subsequently 1,437,500 of the founder shares were repurchased by the Company for an aggregate purchase price
    of $25,000. Our sponsor intends to transfer an aggregate of 60,000 of its founder shares, or 20,000 each to our three independent
    directors, at the closing of this offering. Our sponsor will own 20% of our issued and outstanding shares after this offering (assuming
    it does not purchase units in this offering and excluding the private placement shares and the Representative&rsquo;s Shares). If
    we increase or decrease the size of the offering, we will effect a capitalization or share surrender or redemption or other appropriate
    mechanism, as applicable, with respect to our Class&nbsp;B ordinary shares immediately prior to the consummation of the offering
    in such amount as to maintain the ownership of founder shares by our sponsor at 20% of our issued and outstanding ordinary shares
    upon the consummation of this offering (excluding the private placement shares and the Representative&rsquo;s Shares). Up to 206,250
    founder shares are subject to forfeiture by our sponsor depending on the extent to which the underwriters&rsquo; over-allotment option
    is exercised.</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0">The nominal purchase price paid by our sponsor for the founder shares may significantly
dilute the implied value of your public shares in the event we consummate an initial business combination, and our sponsor and other
initial shareholders are likely to make a substantial profit on their investment in us in the event we consummate an initial business
combination, even if the business combination causes the trading price of our ordinary shares to decline materially. The following table
sets forth information with respect to our initial shareholders and the public shareholders:</P></TD></TR>
</TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-top: 10pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Shares Purchased</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="4" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total Consideration</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Average <BR>
Price </B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Number</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Percentage</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Amount</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Percentage</B></FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Per Share</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: White; width: 29%">&nbsp;</TD>
    <TD STYLE="width: 16%; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Initial Shareholders<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,375,000</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18.58</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">25,000</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.04</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.02</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="background-color: White; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Private Shares</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">280,000</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.78</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,800,000</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.85</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.00</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Representative Shares</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">247,500</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.34</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.00</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="background-color: White; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Public Shareholders</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,500,000</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">74.30</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">55,000,000</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;95.11</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.00</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,402,500</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100.00</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">57,825,000</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100.00</FONT></TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>

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

<P STYLE="margin: 0; font-size: 10pt"></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>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><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>
        <P STYLE="margin-top: 0; margin-bottom: 0">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assumes the full forfeiture of 206,250 shares that are subject to forfeiture by our initial shareholders &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;depending on the extent to which the underwriters&rsquo; over-allotment option is exercised.</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 28%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 71%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The founder shares are identical to the Class&nbsp;A ordinary shares included in the units being sold in this offering, except that:</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 28%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 71%; padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT> only holders of the founder shares have the right to vote on the election of directors prior to our initial business combination;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT> the founder shares are subject to certain transfer restrictions, as described in more detail below;</TD></TR>
</TABLE>

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

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

<!-- Field: Page; Sequence: 32; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0; font-size: 10pt">&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: 28%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 71%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.25in; text-align: justify"><P STYLE="margin-top: 0; margin-bottom: 0"> <FONT STYLE="font-family: Symbol">&middot;
                                            </FONT>our sponsor, officers and directors have entered into a letter agreement with us,
                                            pursuant to which they have agreed (i)&nbsp;to waive their redemption rights with respect
                                            to their founder shares and public shares in connection with the completion of our initial
                                            business combination and (ii)&nbsp;to 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 12 months from the closing of this offering (or up to 18 months
                                            from the closing of this offering if we extend the period of time to consummate a business
                                            combination by the full amount of time without stock holder approval) (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). If we submit our initial business combination to our public shareholders for
                                            a vote, our initial shareholders, officers and directors will count towards this quorum and
                                            they have agreed to vote any shares held by them in favor of our initial business combination.
                                            As a result, in addition to our initial shareholder&rsquo;s founder shares and private placement
                                            shares and the Representative&rsquo;s Shares, we would need only 1,798,751, or 32.7% (assuming
                                            all issued and outstanding shares are voted and the over-allotment option is not exercised),
                                            or 143,751, or 2.9% (assuming only the minimum number of shares representing a quorum are
                                            voted and the over-allotment option is not exercised), of the 5,500,000 public shares sold
                                            in this offering to be voted in favor of a transaction (if the approval requirement was a
                                            majority of shares voted and the minimum number of shares required for a quorum attended
                                            the meeting and assuming the over-allotment option has not been exercised) in order to have
                                            our initial business combination approved; </P>
                                                          <P STYLE="margin-top: 0; margin-bottom: 0"></P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 28%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 71%; padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT> the founder shares will automatically convert into our Class&nbsp;A ordinary shares at the time of our initial business combination, or earlier at the option of the holder, on a one-for-one basis, subject to adjustment pursuant to certain anti-dilution rights, as described in more detail below and in our amended and restated memorandum and articles of association; and</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 28%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 71%; padding-left: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT> the founder shares are subject to registration rights.</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Representative Shares</FONT> </TD>
    <TD STYLE="vertical-align: bottom"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom"><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">We
    have agreed to issue to Maxim and/or its designees, 247,500 ordinary shares (or </FONT>284,625 shares if the underwriter&rsquo;s
    over-allotment option is exercised in full) upon the consummation of this offering. These shares are being registered in the registration
    statement of which this prospectus forms a part. Maxim has agreed not to transfer, assign or sell any such shares until the completion
    of our initial business combination. In addition, Maxim (and its designees) has agreed (and its permitted transferees will agree)
    (i)&nbsp;to waive its redemption rights with respect to such shares in connection with the completion of our initial business combination
    and (ii)&nbsp;to waive its rights to liquidating distributions from the trust account with respect to such shares if we fail to complete
    our initial business combination within 12 months from the closing of this offering (or up to 18 months from the closing of this
    offering if we extend the period of time to consummate a business combination, as described in more detail in this prospectus without
    shareholder approval). </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"> The shares have been deemed compensation by FINRA and are therefore
    subject to a lock-up for a period of 180 days from the date of the commencement of sales in this offering pursuant to FINRA Rule&nbsp;5110(e)(1).
    Pursuant to FINRA Rule&nbsp;5110(e)(1), these securities may not be sold, transferred, assigned, pledged, hypothecated or be the
    subject of any hedging, short sale, derivative, put or call transaction that would result in the economic disposition of the securities
    by any person for a period of 180 days commencement of sales of this offering except to any underwriter and selected dealer participating
    in the offering and their officers, partners, registered persons or affiliates. </P>

</TD></TR>

<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-left: 10pt; text-indent: -10pt; width: 28%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transfer restrictions on founder shares</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify; width: 71%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our sponsor has agreed not to transfer, assign or sell any of its founder shares until the earlier to occur of: (A)&nbsp;six months after the completion of our initial business combination or (B)&nbsp;the date on which we complete a liquidation, merger, share exchange, reorganization or other similar transaction after our initial business combination that results in all of our public shareholders having the right to exchange their ordinary shares for cash, securities or other property (except as described herein under &ldquo;Principal Shareholders &mdash; Transfers of Founder Shares and Private Placement Units&rdquo;). 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">&nbsp;</P>

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

<!-- Field: Page; Sequence: 33; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>

<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: 28%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 71%"><P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0">Notwithstanding the foregoing, if the last sale price of our
                           ordinary shares equals or exceeds $12.00 per share (as adjusted for share splits, share capitalizations, rights issuances,
                           subdivisions, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing
                           after our initial business combination the founder shares will be released from the lock-up. In addition, we could agree to permit
                           the holders of our founder shares to transfer shares or agree to cancel such securities. Although no such transfers or
                           cancellations are contemplated, we could agree to permit such transfer or cancellation to facilitate the closing of a business
                           combination. </P>
                           <P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                           <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Assuming no liquidation, merger, share
exchange, reorganization or other similar transaction takes place, lock-ups on securities owned by our initial shareholder would expire
as follows:</P>

</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; background-color: White; width: 29%"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; background-color: White; font-size: 10pt; width: 35%"> Founder Shares </TD>
    <TD STYLE="background-color: White; width: 1%"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; background-color: White; font-size: 10pt; width: 35%"> Private Placement
    Units </TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="background-color: White"> &nbsp; </TD>
    <TD STYLE="background-color: White; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">six
    months after the completion of our initial business combination</FONT> </TD>
    <TD STYLE="background-color: White"> &nbsp; </TD>
    <TD STYLE="background-color: White; font-size: 10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">upon
    completion of the business combination</FONT> </TD></TR>
  </TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 28%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 71%">&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">Founder shares conversion and anti-dilution rights</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We have issued 1,581,250 Class&nbsp;B ordinary shares, with no par value to our sponsor. The Class&nbsp;B ordinary shares will automatically convert into Class&nbsp;A ordinary shares at the time of our initial business combination or earlier at the option of the holder, on a one-for-one basis, subject to adjustment for share splits, share capitalizations, reorganizations, recapitalizations and the like, and subject to further adjustment as provided herein and in our amended and restated memorandum and articles of association.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 28%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 71%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the case that additional Class&nbsp;A ordinary shares, or equity-linked securities, are issued or deemed issued in excess of the amounts sold in this offering and related to the closing of our initial business combination, the ratio at which the Class&nbsp;B ordinary shares shall convert into Class&nbsp;A ordinary shares will be adjusted (unless the holders of a majority of the issued and outstanding Class&nbsp;B ordinary shares agree to waive such anti-dilution adjustment with respect to any such issuance or deemed issuance) so that the number of Class&nbsp;A ordinary shares issuable upon conversion of all Class&nbsp;B ordinary shares will equal, in the aggregate, 20% of the sum of all ordinary shares issued and outstanding upon completion of this offering, including pursuant to the Over-Allotment Options, plus all Class&nbsp;A ordinary shares issued or deemed issued, or issuable upon the conversion or exercise of any equity-linked securities issued or deemed issued in connection with or in relation to our initial business combination, excluding any shares or equity-linked securities issued, or to be issued, to any seller in our initial business combination or any private placement-equivalent securities issued to our sponsor or its affiliates upon conversion of loans made to us. Holders of founder shares may also elect to convert their Class&nbsp;B ordinary shares into an equal number of Class&nbsp;A ordinary shares, 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 our Class&nbsp;A ordinary shares 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 adjustment if such shares are issuable upon the conversion or exercise of convertible securities or similar securities.</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"></P>

<!-- Field: Page; Sequence: 34; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>

<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: 28%; padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Private
    placement units</FONT> </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 71%; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our sponsor
    has agreed to purchase an aggregate of 280,000 units (or 288,250 units if the over-allotment option is exercised in full) at a price
    of $10.00 per unit for an aggregate purchase price of&nbsp;$2,800,000, or $2,882,500 if the over-allotment option is exercised in
    full. Each private placement unit will be identical to the units sold in this offering, except as described in this prospectus. The
    private placement units will be sold in a private placement that will close simultaneously with the closing of this offering, including
    the over-allotment option, as applicable. There will be no redemption rights or liquidating distributions from the trust account
    with respect to the founder shares, private placement shares, private placement units or private placement rights. The rights will
    expire worthless if we do not consummate a business combination within the allotted 12-month period (or up to 18 months from the
    completion of this offering if we extend the period of time to consummate a business combination by the full amount of time without
    shareholder approval). Our sponsor has agreed to waive its redemption rights with respect to its private placement shares (i)&nbsp;in
    connection with the consummation of a business combination, (ii)&nbsp;in connection with a shareholder vote to amend our amended
    and restated memorandum and articles of association 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 12 months after the closing of this offering (or up to 18 months
    from the completion of this offering if we extend the period of time to consummate a business combination by the full amount of time)
    and (iii)&nbsp;if we fail to consummate a business combination within 12 months after the closing of this offering (or up to 18 months
    from the completion of this offering if we extend the period of time to consummate a business combination by the full amount of time)
    or if we liquidate prior to the expiration of the 12-month period (or up to 18 months from the completion of this offering if we
    extend the period of time to consummate a business combination by the full amount of time). However, our sponsor will be entitled
    to redemption rights with respect to any public shares held by it if we fail to consummate a business combination or liquidate within
    the 12-month period (or up to 18 months if we extend the period of time to consummate a business combination by the full amount of
    time).</FONT> </TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 28%; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transfer restrictions on private placement units</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 71%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The private placement units and their component securities will not be transferable, assignable or salable until the completion of our initial business combination (except with respect to permitted transferees as described herein under &ldquo;Principal Shareholders &mdash; Transfers of Founder Shares and Private Placement Units&rdquo;).</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 28%; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proceeds to be held in trust account</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 71%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The rules&nbsp;of NASDAQ provide that at least 90% of the gross proceeds from this offering and the private placement be deposited in a trust account. Of the net proceeds we will receive from this offering and the sale of the private placement units described in this prospectus, $55,000,000 ($10.00 per unit), or $63,250,000 ($10.00 per unit) if the underwriters&rsquo; over-allotment option is exercised in full (subject to increase of up to an additional $0.20 per unit in the event that our sponsor elects to extend the period of time to consummate a business combination, as described in more detail in this prospectus), will be deposited into a segregated trust account located in the United States with Continental Stock Transfer&nbsp;&amp; Trust Company acting as trustee and $1,400,000 will be used to pay expenses in connection with the closing of this offering and for working capital following this offering.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The funds in the trust account will be invested only in specified U.S. government treasury bills or in specified money market funds.</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"></P>

<!-- Field: Page; Sequence: 35; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>

<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: 28%"> &nbsp; </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 71%; text-align: justify"> <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 taxes, if any, the proceeds
    from this offering and the private placement will not be released from the trust account until the earliest of (i)&nbsp;the completion
    of our initial business combination, (ii)&nbsp;the redemption of any public shares properly tendered in connection with a shareholder
    vote to amend our amended and restated memorandum and articles of association to (A)&nbsp;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 12 months from the closing of this
    offering (or up to 18 months from the closing of this offering if we extend the period of time to consummate a business combination
    by the full amount of time without shareholder approval) or (B)&nbsp;with respect to any other provision relating to shareholders&rsquo;
    rights or pre-business combination activity and (iii)&nbsp;the redemption of all of our public shares if we are unable to complete
    our initial business combination within 12 months from the closing of this offering (or up to 18 months from the closing of this
    offering if we extend the period of time to consummate a business combination by the full amount of time), 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 shareholders.</FONT> </TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 28%; padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ability
    to extend time to complete business combination</FONT> </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 71%; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We will
    have until 12 months from the closing of this offering to consummate an initial business combination. However, if we anticipate that
    we may not be able to consummate our initial business combination within 12 months, we may extend the period of time to consummate
    a business combination up to two times, each by an additional three months (for a total of up to 18 months to complete a business
    combination) without shareholder approval. Pursuant to the terms of our amended and restated memorandum and articles of association
    and the trust agreement to be entered into between us and Continental Stock Transfer&nbsp;&amp; Trust Company on the date of this
    prospectus, in order to extend the time available for us to consummate our initial business combination, our sponsor or its affiliates
    or designees, upon two days advance notice prior to the applicable deadline, may deposit into the trust account $550,000, or up to
    $632,500 if the underwriters over-allotment option is exercised in full ($0.10 per share in either case) on or prior to the date
    of the applicable deadline, for each three month extension (or up to an aggregate of $1,100,000 (or $ 1,265,000 if the underwriters
    over-allotment option is exercised in full), or $0.20 per share if we extend for the full six months). Any such payments would be
    made in the form of a loan. Any such loans will be non-interest bearing and payable upon the consummation of our initial business
    combination. If we complete our initial business combination, we would repay such loaned amounts out of the proceeds of the trust
    account released to us. If we do not complete a business combination, we will not repay such loans. Furthermore, the letter agreement
    with our initial shareholder contains a provision pursuant to which our sponsor has agreed to waive its right to be repaid for such
    loans out of the funds held in the trust account in the event that we do not complete a business combination. Our sponsor and its
    affiliates or designees are not obligated to fund the trust account to extend the time for us to complete our initial business combination.</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"></P>

<!-- Field: Page; Sequence: 36; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>

<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="padding-left: 10pt; text-indent: -10pt; width: 28%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Anticipated expenses and funding <BR>
sources</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 71%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unless and until we complete our initial business combination, no proceeds held in the trust account will be available for our use, except the withdrawal of interest to pay taxes. Based upon current interest rates, we expect the trust account to generate approximately $2,750,000 of interest annually (assuming no exercise of the underwriters&rsquo; over-allotment option and an interest rate of 5% per year<U>)</U> following the investment of such funds in specified U.S. government treasury bills or in specified money market funds. Unless and until we complete our initial business combination, we may pay our expenses only from:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT> the net proceeds of this offering and the sale of the private placement units not held in the trust account, which will be approximately $1,400,000 in working capital after the payment of approximately $850,000 (not including underwriter&rsquo;s commissions) in expenses relating to this offering; and</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 28%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 71%; padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT> 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 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 a business combination. Up to $1,150,000 of such loans may be convertible into units at a price of $10.00 per unit at the option of the lender.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 28%; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Conditions to completing our initial business combination</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 71%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">There is no limitation on our ability to raise funds privately or through loans in connection with our initial business combination. NASDAQ rules&nbsp;require that our initial business combination must be with one or more target businesses that together have an aggregate fair market value equal to at least 80% of the balance in the trust account (less&nbsp;any taxes payable on interest earned and less any interest earned thereon that is released to us for taxes) at the time of our signing a definitive agreement in connection with our initial business combination. We do not intend to purchase multiple businesses in unrelated industries in conjunction with our initial business combination.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 28%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 71%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If our Board of Directors is not able to independently determine the fair market value of the target business or businesses, we will obtain an opinion from an independent investment banking firm or another independent firm that commonly renders valuation opinions or from an independent accounting firm. We will complete our initial business combination only if the post-transaction company in which our public shareholders own shares will own or acquire 50% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company under the Investment Company Act. Even if the post-transaction company owns or acquires 50% or more of the voting securities of the target, our shareholders prior to our initial business combination may collectively own a minority interest in the post-transaction company, depending on valuations ascribed to the target and us in our initial business combination transaction. If less than 100% of the equity interests or assets of a target business or businesses are owned or acquired by the post-transaction company, the portion of such business or businesses that is owned or acquired is what will be valued for purposes of the 80% of net assets test, provided that in the event that our initial business combination involves more than one target business, the 80% of net assets test will be based on the aggregate value of all of the target businesses.</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"></P>

<!-- Field: Page; Sequence: 37; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>

<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: 28%; padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Permitted
    purchases of public shares by our affiliates</FONT> </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 71%; text-align: justify"><P STYLE="margin-top: 0; margin-bottom: 0"> <FONT STYLE="font-family: Times New Roman, Times, Serif">If
                                            we seek shareholder 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 in privately
                                            negotiated transactions or in the open market either prior to or following the completion
                                            of our initial business combination. Please see &ldquo;<B><I>Proposed Business &mdash; Permitted
                                            purchases of our securities</I></B>&rdquo; for a description of how such persons will determine
                                            which shareholders to seek to acquire shares from. There is no limit on the number of shares
                                            such persons may purchase, or any restriction on the price that they may pay. Any such price
                                            per share may be different than the amount per share a public shareholder would receive if
                                            it elected to redeem its shares in connection with our initial business combination. However,
                                            such persons have no current commitments, plans or intentions to engage in such transactions
                                            and have not formulated any terms or conditions for any such transactions.&nbsp; Any such
                                            purchases would only be made in compliance with applicable rules&nbsp;and law, including
                                            Tender Offer Rules&nbsp;and Schedules Compliance and Disclosure Interpretation 166.01. None
                                            of the funds in the trust account will be used to purchase shares in such transactions. </FONT> </P>
                                                <P STYLE="margin-top: 0; margin-bottom: 0"> &nbsp; </P>
                                                <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> Any of the public
                                            shares purchased by our sponsor, initial shareholders, directors, officers, advisors and
                                            any of their respective affiliates from public shareholders outside the redemption process
                                            described in this prospectus would not be voted in favor of approving our initial business
                                            combination. The purpose of any such purchases could be 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. Any such transactions 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;&nbsp;of our ordinary shares 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"> &nbsp; </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> In the event our sponsor, directors, officers,
advisors or their affiliates were to purchase shares from public shareholders, such purchases would by structured in compliance with
the requirements of Rule 14e-5 under the Exchange Act. See &ldquo;<B><I>Proposed Business</I>&nbsp;&mdash;&nbsp;<I>Permitted purchases
of our securities</I></B>.&rdquo; </P>

<P STYLE="margin-top: 0; margin-bottom: 0"> &nbsp; </P>
                                                <P STYLE="margin-top: 0; margin-bottom: 0"> Subsequent to the consummation of this
                                            offering, we will adopt an insider trading policy which will require insiders to: (i)&nbsp;refrain
                                            from purchasing shares during certain blackout periods and when they are in possession of
                                            any material non-public information and (ii)&nbsp;to clear all trades with our legal counsel
                                            prior to execution. We cannot currently determine whether our insiders will make such purchases
                                            pursuant to a Rule&nbsp;10b5-1 plan, as it will be dependent upon several factors, including
                                            but not limited to, the timing and size of such purchases. Depending on such circumstances,
                                            our insiders may either make such purchases pursuant to a Rule&nbsp;10b5-1 plan or determine
                                            that such a plan is not necessary. </P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 28%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 71%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We do not currently anticipate that such purchases, if any, would constitute a tender offer subject to the tender offer rules&nbsp;under the Exchange Act or a going-private transaction subject to the going-private rules&nbsp;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. Our sponsor, directors, officers, advisors or their affiliates will not make any purchases if the purchases would violate Section&nbsp;9(a)(2)&nbsp;or Rule&nbsp;10b-5 of the Exchange Act.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&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">Redemption rights for public shareholders upon completion of our initial business combination</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We will provide our public shareholders 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 (which interest shall be net of taxes payable) divided by the number of then outstanding public shares, subject to the limitations described herein.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 28%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 71%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The amount in the trust account is initially anticipated to be $10.00 per public share&nbsp;(subject to increase of up to an additional $0.20 per unit in the event that our sponsor elects to extend the period of time to consummate a business combination, as described in more detail in this prospectus). There will be no redemption rights upon the completion of our initial business combination with respect to our public rights or private placement rights. Maxim (and its designees), our sponsor, officers and directors have entered into a letter agreement with us, pursuant to which they have agreed (and their permitted transferees will agree) to waive their redemption rights with respect to their founder shares, Representative&rsquo;s Shares and any public shares they may acquire during or after this offering in connection with the completion of our initial business combination.</FONT></TD></TR>
</TABLE>

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

<P STYLE="margin: 0; font-size: 10pt; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 38; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0; font-size: 10pt; text-indent: 0in">&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="padding-left: 10pt; text-indent: -10pt; width: 28%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Manner
    of conducting redemptions</FONT> </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="text-align: justify; width: 71%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We will
    provide our public shareholders 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 shareholder meeting called to approve the business combination
    (regardless of whether a shareholder abstains, or votes for or against or abstains from voting on the proposed transaction) or (ii)&nbsp;by
    means of a tender offer. The decision as to whether we will seek shareholder approval of a proposed 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 shareholder approval under the law or stock exchange
    listing requirement. Under NASDAQ rules, asset acquisitions and stock purchases would not typically require shareholder approval
    while direct mergers with our company where we do not survive and any transactions where we issue more than 20% of our issued and
    outstanding ordinary shares or seek to amend our amended and restated memorandum and articles of association would require shareholder
    approval. We intend to conduct redemptions without a shareholder vote pursuant to the tender offer rules&nbsp;of the SEC unless shareholder
    approval is required by law or stock exchange listing requirement or we choose to seek shareholder 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>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 28%; padding-right: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 71%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If a shareholder vote is not required and we do not decide to hold a shareholder vote for business or other legal reasons, we will, pursuant to our amended and restated memorandum and articles of association:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2.5pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2.5pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT>&nbsp;conduct the redemptions pursuant to Rule&nbsp;13e-4 and Regulation 14E of the Exchange Act, which regulate issuer tender offers; and</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 28%; padding-right: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 71%; padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT>&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.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 28%; padding-right: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 71%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 our Class&nbsp;A ordinary shares in the open market, in order to comply with Rule&nbsp;14e-5 under the Exchange Act.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2.5pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2.5pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><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)&nbsp;under the Exchange Act, and we will not be permitted to complete our initial business combination until the expiration of the tender offer period.&nbsp;If public shareholders 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>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 28%; padding-right: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 71%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If, however, shareholder approval of the transaction is required by law or stock exchange listing requirement, or we decide to obtain shareholder approval for business or other legal reasons, we will:</FONT></TD></TR>
</TABLE>

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

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

<!-- Field: Page; Sequence: 39; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->27<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0; font-size: 10pt">&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="padding-right: 2.5pt; width: 28%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 71%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2.5pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT>&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</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2.5pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.25in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2.5pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT>&nbsp;file proxy materials with the SEC.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2.5pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 2.5pt">&nbsp;</TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We expect that a final
    proxy statement would be mailed to public shareholders at least 20 calendar days prior to the shareholder vote. However, we expect
    that a draft proxy statement would be made available to such shareholders well in advance of such time, providing additional notice
    of redemption if we conduct redemptions in conjunction with a proxy solicitation. Although we are not required to do so, we currently
    intend to comply with the substantive and procedural requirements of Regulation 14A in connection with any shareholder vote even
    if we are not able to maintain our NASDAQ listing or Exchange Act registration.</FONT> </TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 28%">&nbsp;</TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 71%; text-align: justify"> If we seek shareholder approval, we will complete our initial business combination
    only if a majority of the issued and outstanding ordinary shares voted are voted in favor of the business combination. In such case,
    pursuant to the terms of a letter agreement entered into with us, Maxim (and its designees), our sponsor, officers and directors
    have agreed (and their permitted transferees will agree) to vote any founder shares, private placement shares and Representative&rsquo;s
    Shares held by them in favor of our initial business combination. We expect that at the time of any shareholder vote relating to
    our initial business combination, our sponsor and its permitted transferees will own at least 20% of our issued and outstanding ordinary
    shares entitled to vote thereon. If we submit our initial business combination to our public shareholders for a vote, our initial
    shareholders, officers and directors will count towards this quorum and have agreed to vote any shares held by them in favor of our
    initial business combination. As a result, in addition to our initial shareholder&rsquo;s founder shares and private placement shares
    and the Representative&rsquo;s Shares, we would need only 1,798,751, or 32.7% (assuming all issued and outstanding shares are voted
    and the over-allotment option is not exercised), or 143,751, or 2.9% (assuming only the minimum number of shares representing a quorum
    are voted and the over-allotment option is not exercised), of the 5,500,000 public shares sold in this offering to be voted in favor
    of a transaction (if the approval requirement was a majority of shares voted and the minimum number of shares required for a quorum
    attended the meeting and assuming the over-allotment option has not been exercised) in order to have our initial business combination
    approved). Each public shareholder may elect to redeem their public shares irrespective of whether they vote for or against or abstain
    from voting on the proposed transaction, or whether they were a public shareholder on the record date for the shareholder meeting
    held to approve the proposed transaction. </TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 28%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 71%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain minimum cash requirements may be contained in the agreement relating to our initial business combination. For example, the proposed 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 business combination. In the event the aggregate cash consideration we would be required to pay for all ordinary shares that are validly submitted for redemption plus any amount required to satisfy cash conditions pursuant to the terms of the proposed business combination exceed the aggregate amount of cash available to us, we will not complete the business combination or redeem any shares, and all ordinary shares 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">&nbsp;</P>

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

<!-- Field: Page; Sequence: 40; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->28<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>

<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="padding-right: 10pt; padding-left: 10pt; text-indent: -10pt; width: 28%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tendering share certificates in connection with a tender offer or redemption rights</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 71%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We may require our public shareholders 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 (if any) to our transfer agent prior to the date set forth in the tender offer documents or proxy materials mailed to such holders, or up to two business days prior to the vote on the proposal to approve our 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 (Deposit/Withdrawal At Custodian) System, at the holder&rsquo;s option, rather than simply voting against the initial business combination. 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 shareholders to satisfy such delivery requirements.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 28%; padding-right: 10pt; padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Limitation
    on redemption rights of shareholders holding more than 15% of the shares sold in this offering if we hold shareholder vote</FONT> </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 71%; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notwithstanding
    the foregoing redemption rights, if we seek shareholder 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 memorandum and articles
    of association will provide that a public shareholder, together with any affiliate of such shareholder or any other person with whom
    such shareholder 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, without the consent of the directors, with respect to more than an aggregate of 15% of the
    shares sold in this offering. We believe the restriction described above will discourage shareholders 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 sponsor
    or its affiliates to purchase their shares at a significant premium to the then-current market price or on other undesirable terms.
    Absent this provision, a public shareholder holding more than an aggregate of 15% of the shares sold in this offering could threaten
    to exercise its redemption rights against a business combination if such holder&rsquo;s shares are not purchased by us or our sponsor
    or its affiliates at a premium to the then-current market price or on other undesirable terms. By limiting our shareholders&rsquo;
    ability to redeem to no more than 15% of the shares sold in this offering, we believe we will limit the ability of a small group
    of shareholders to unreasonably attempt to block our ability to complete our initial business combination, particularly in connection
    with a 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 shareholders&rsquo; ability to vote all of their shares (including all shares held
    by those shareholders that hold more than 15% of the shares sold in this offering) for or against or abstain from voting on our initial
    business combination. Our sponsor, officers and directors have, pursuant to a letter agreement entered into with us, waived their
    right to have any founder shares or public shares held by them redeemed in connection with our initial business combination. Unless
    any of our other affiliates acquires founder shares through a permitted transfer from an initial shareholder, and thereby becomes
    subject to the letter agreement, no such affiliate is subject to this waiver. However, to the extent any such affiliate acquires
    public shares in this offering or thereafter through open market purchases, it would be a public shareholder and subject to the 15%
    limitation in connection with any such redemption right.</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"></P>

<!-- Field: Page; Sequence: 41; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->29<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>

<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: 28%; padding-right: 10pt; padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Redemption
    Rights in connection with proposed amendments to our amended and restated memorandum and articles of association</FONT> </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 71%; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our amended
    and restated memorandum and articles of association will provide that any of its provisions, including those related to pre-business
    combination activity (including the requirement to deposit proceeds of this offering and the private placement into the trust account
    and not release such amounts except in specified circumstances, and to provide redemption rights to public shareholders as described
    herein and in our amended and restated memorandum and articles of association, but excluding the provision of the articles relating
    to the appointment of directors), may be amended if approved by a resolution by holders of at least a majority of our ordinary shares
    who are eligible to vote and attend and vote in a general meeting, and corresponding provisions of the trust agreement governing
    the release of funds from our trust account may be amended if approved by holders of a majority of our ordinary shares. We may not
    issue additional securities that can vote on amendments to our amended and restated memorandum and articles of association or in
    our initial business combination. Our sponsor, which will beneficially own approximately 20% of our ordinary shares upon the closing
    of this offering (assuming it does not purchase units in this offering and excluding the private placement shares and the Representative&rsquo;s
    Shares), will participate in any vote to amend our amended and restated memorandum and articles of association and/or trust agreement
    and will have the discretion to vote in any manner it chooses. 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 memorandum and articles of association that
    would (i)&nbsp;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 12 months from the closing of this offering&nbsp;(or up to 18 months from the closing of this offering
    if we extend the period of time to consummate a business combination by the full amount of time without shareholder approval) or
    (ii)&nbsp;with respect to the other provisions relating to shareholders&rsquo; rights or pre-business combination activity, unless
    we provide our public shareholders with the opportunity to redeem their Class&nbsp;A ordinary shares 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. Maxim (and its designees), 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 their founder shares, Representative&rsquo;s Shares and public shares in connection with the completion of
    our initial business combination. Our public shareholders will be permitted to redeem their shares regardless of whether they abstain,
    vote for, vote against, or vote at all with respect to the proposed business combination.</FONT> </TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 28%; padding-right: 10pt; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Release of funds in trust account on closing of our initial business combination</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 71%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On the completion of our initial business combination, all amounts held in the trust account will be released to us, other than funds the trustee will use to pay amounts due to any public shareholders who exercise their redemption rights as described above under &ldquo;Redemption rights for public shareholders upon completion of our initial business combination.&rdquo; We will use the remaining funds (less any taxes payable on interest earned and less any interest earned thereon that is released to us for taxes) 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>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 28%; padding-right: 10pt; padding-left: 9pt; text-align: justify; text-indent: -9pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Redemption
    of public shares and distribution and liquidation if no initial business combination</FONT> </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; width: 71%; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
    sponsor, officers, and directors have agreed that we will have only 12 months from the closing of this offering (or up to 18 months
    from the closing of this offering if we extend the period of time to consummate a business combination by the full amount of time
    without shareholder approval) to complete our initial business combination. If we are unable to complete our initial business combination
    within such 12-month period (or up to 18 months from the closing of this offering if we extend the period of time to consummate a
    business combination by the full amount of time), 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 (which interest shall be net of taxes
    payable, and less up to $200,000 of interest to pay dissolution expenses) divided by the number of then outstanding public shares,
    which redemption will completely extinguish public shareholders&rsquo; rights as shareholders (including the right to receive further
    liquidation 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 shareholders and our Board of Directors, liquidate and dissolve, subject in each case to
    our obligations under British Virgin Islands 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 public rights or private placement rights. The
    rights will expire worthless if we fail to complete our initial business combination within the 12-month time period (or up to 18
    months from the closing of this offering if we extend the period of time to consummate a business combination by the full amount
    of 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"></P>

<!-- Field: Page; Sequence: 42; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->30<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 28%; padding-right: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 71%; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maxim
    (and its designees), 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 their founder shares, private placement shares
and Representative&rsquo;s Shares if we fail to complete our initial business combination within 12 months from the closing of this offering
(or up to 18 months from the closing of this offering if we extend the period of time to consummate a business combination by the full
amount of time). However, if our sponsor acquires public shares 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
12-month time frame (or up to 18 months from the closing of this offering if we extend the period of time to consummate a business combination
by the full amount of time).</FONT> </TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 28%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 71%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maxim, 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 memorandum and articles of association that would (i)&nbsp;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 12 months from the closing of this offering (or up to 18 months from the closing of this offering if we extend the period of time to consummate a business combination by the full amount of time) or (ii)&nbsp;with respect to the other provisions relating to shareholders&rsquo; rights or pre-business combination activity, unless we provide our public shareholders with the opportunity to redeem their Class&nbsp;A ordinary shares 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.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 28%; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Limited payments to insiders</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 71%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">There will be no finder&rsquo;s fees, reimbursements or cash payments made to our sponsor, officers or directors, or our or their affiliates, for services rendered to us prior to or in connection with the completion of our initial business combination, other than the following payments, none of which will be made from the proceeds of this offering and the sale of the private placement units held in the trust account prior to the completion of our initial business combination:</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT>&#8239; repayment of an aggregate of up to $350,000 in loans made to us by our sponsor to cover offering-related and organizational expenses;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.25in">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT> &#8239;reimbursement for any out-of-pocket expenses related to identifying, investigating and completing an initial business combination; and</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.25in; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.25in; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT> &#8239;repayment of 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, the terms of which have not been determined nor have any written agreements been executed with respect thereto. Up to $1,150,000 of such loans may be convertible into units at a price of $10.00 per unit at the option of the lender.</TD></TR>
</TABLE>

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

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

<!-- Field: Page; Sequence: 43; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->31<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 28%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify; width: 71%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">These payments may be funded using the net proceeds of this offering and the sale of the private placement units not held in the trust account or, upon completion of the initial business combination, from any amounts remaining from the proceeds of the trust account released to us in connection therewith.</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><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>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 28%; padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Audit
    committee</FONT> </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; width: 71%; text-align: justify"> After the effectiveness of the registration statement of which this
prospectus is a part, we will have established and will 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 entitled &ldquo;Management &mdash; Committees of the Board of Directors &mdash;
Audit Committee.&rdquo; </TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 28%; padding-left: 10pt; text-indent: -10pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Conflicts
    of interest</FONT> </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="vertical-align: bottom; width: 71%; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
    directors and officers are also not required to commit any specified amount of time to our affairs, and, accordingly, will have conflicts
    of interest in allocating management time among various business activities, including identifying potential business combinations
    and monitoring the related due diligence. Furthermore, our sponsor and its affiliate(s), and </FONT>each of our officers and directors
    presently have, and in the future any of our sponsor and its affiliate(s), our directors and our officers may have additional, fiduciary
    or contractual obligations to other entities pursuant to which such sponsor, affiliate(s), officer or director is or will be required
    to present acquisition opportunities to such entity. Accordingly, subject to his or her fiduciary duties under British Virgin Islands
    law, if any of our officers or directors becomes aware of an acquisition opportunity which is suitable for an entity to which he
    or she has then current fiduciary or contractual obligations, he or she will need to honor his or her fiduciary or contractual obligations
    to present such acquisition opportunity to such entity, and only present it to us if such entity rejects the opportunity. Our amended
    and restated memorandum and articles of association will provide that, subject to his or her fiduciary duties under British Virgin
    Islands law, we renounce our interest or expectancy in any corporate opportunity offered to any officer or director 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 complete on a reasonable basis. We do not believe, however, that any fiduciary
    duties or contractual obligations of our directors or officers would materially undermine our ability to complete our business combination. </TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 28%; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indemnity</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 71%; text-align: justify"><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 vendor for services rendered or products sold to us, or a prospective target business with which we have discussed entering into a transaction agreement, reduce the amount of funds in the trust account to below (i)&nbsp;$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 the value of the trust assets, in each case net of the interest which may be withdrawn to pay taxes, except as to any claims by a third party who executed a waiver of any and all rights to seek access to the trust account and except as to any claims under our indemnity of the underwriters of this offering against certain liabilities, including liabilities under the Securities Act. Moreover, in the event that an executed waiver is deemed to be unenforceable against a third party, our sponsor will not be responsible to the extent of any liability for such third-party claims. We have not independently verified whether our sponsor has sufficient funds to satisfy their indemnity obligations and believe that our sponsor&rsquo;s only assets are securities of our company. We have not asked our sponsor to reserve for such obligations.</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"></P>

<!-- Field: Page; Sequence: 44; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->32<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>Risks</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-align: justify; text-indent: 0.25in">We are a 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 &ldquo;<B><I>Proposed Business &mdash; Comparison of This Offering to Those of Blank Check Companies
Subject to Rule&nbsp;419.</I></B>&rdquo; You should carefully consider these and the other risks set forth in the section of this prospectus
entitled &ldquo;Risk Factors.&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; text-align: justify; text-indent: 0.25in">Even if we complete our initial
business combination, the combined company whose securities the investors may invest in may be a holding company with substantive business
operations conducted by its subsidiaries, and in the case of a business combination with a target business based in and primarily operating
in China, the business may have a VIE structure where the holding company has no equity ownership in its VIEs but only maintains contractual
arrangements with its VIEs. Such corporate structure involves unique risks to investors. In addition, any actions by the PRC government
to exert more oversight and control over offerings that are conducted overseas and/or foreign investment in China-based issuers could
significantly limit or completely hinder the combined company&rsquo;s ability to offer or continue to offer securities to investors and
cause the value of such securities to significantly decline or be worthless. You should carefully consider all of the information in this
prospectus before making an investment.</P>

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

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

<!-- Field: Page; Sequence: 45; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->33<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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; text-indent: 0.25in">&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; text-align: center"><B>Summary Financial Data</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-align: justify; text-indent: 0.25in">The following table summarizes
the relevant financial data for our business and should be read together with our financial statements, which are included elsewhere 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">&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">June&nbsp;30, 2024</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">As<BR> Adjusted</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">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><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="padding-left: 0.125in; width: 74%; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Working (deficiency) capital <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">$</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">(148,576</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">1,173,377</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="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total assets<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">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">56,251,424</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="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total liabilities<SUP>(3)</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">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">148,576</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">78,047</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="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Value of ordinary shares subject to possible conversion/tender<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">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">51,259,208</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="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shareholders&rsquo; equity (deficit)<SUP>(5)</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">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(148,576</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">4,914,169</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">&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: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>(1)</SUP></FONT>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The &ldquo;as adjusted&rdquo; calculation includes $1,400,000 of cash held outside the trust account, minus $78,047 over-allotment option liability, plus $(148,576) of actual shareholders&rsquo; deficit as of June&nbsp;30, 2024.&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>(2)</SUP></FONT>&nbsp; </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The &ldquo;as adjusted&rdquo;
    calculation equals $55,000,000 of cash held in trust from the proceeds of this offering and the sale of the private placement units,
    plus $1,400,000 of cash held outside the trust account, plus $(148,576) of actual shareholders&rsquo; deficit as of June&nbsp;30,
    2024.&nbsp;</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>(3)</SUP></FONT>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The &ldquo;as adjusted&rdquo; amount includes the over-allotment liability, assuming the over-allotment option is not exercised.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>(4)</SUP></FONT>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The &ldquo;as adjusted&rdquo; amount includes all public shares included in the units sold in this offering, assuming the over-allotment option is not exercised, net off the fair value of rights included in the units sold in this offering and the estimated offering costs. The ordinary shares offered to the public contain redemption rights that make them redeemable by our public shareholders. Accordingly, they are classified within temporary equity in accordance with the guidance provided in ASC 480-10-S99-3A and will be subsequently accredited at redemption value.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>(5)</SUP></FONT>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Excludes 5,500,000 shares of ordinary shares purchased in the public market which are subject to conversion in connection with our initial business combination. The &ldquo;as adjusted&rdquo; calculation equals the &ldquo;as adjusted&rdquo; total assets, less the &ldquo;as adjusted&rdquo; total liabilities, less the value of shares of ordinary shares that may be converted in connection with our initial business combination ($10.00 per share).</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; text-align: justify; text-indent: 0.25in"> If no business combination
is completed within 12 months from the closing of this offering (or up to 18 months from the closing of this offering if we extend the
period of time to consummate a business combination by the full amount of time without shareholder approval, as described in more detail
in this prospectus), the proceeds then on deposit in the trust account, including interest (which interest shall be net of taxes payable,
and less up to $200,000 of interest to pay dissolution expenses) will be used to fund the redemption of our public shares. Maxim (and
its designees), 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 their founder shares, private placement shares
and Representative&rsquo;s Shares if we fail to complete our initial business combination within such 12-month time period (or up to
18 months from the closing of this offering if we extend the period of time to consummate a business combination by the full amount of
time). </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: 46; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->34<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>RISKS</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>Summary of Risk Factors</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-align: justify; text-indent: 0.25in; background-color: white">An
investment in our securities involves a high degree of risk. The occurrence of one or more of the events or circumstances described in
the section titled &ldquo;Risk Factors,&rdquo; alone or in combination with other events or circumstances, may materially adversely affect
our business, financial condition and operating results. In that event, the trading price of our securities could decline, and you could
lose all or part of your investment. Such risks include, but are not limited to:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 3%; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 90%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our public shareholders 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 shareholders do not support such a combination. See page 38 for additional information.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 90%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Your only opportunity to affect your investment decision regarding a potential business combination may be limited to the exercise of your right to redeem your shares from us for cash. See page&nbsp;39 for additional information.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 90%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If the net proceeds of this offering and the sale of the private placement units not being held in the trust account are insufficient, it could limit the amount of cash 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 and to complete our initial business combination. See page&nbsp;43 for additional information.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify; width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We may seek acquisition opportunities with a financially unstable business or an entity lacking an established record of revenue or earnings. See page&nbsp;47 for additional information.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 90%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We are dependent upon our officers and directors and their departure could adversely affect our ability to operate. See page&nbsp;62 for additional information.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 90%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our officers, directors, security holders and their respective affiliates may have competitive pecuniary interests that conflict with our interests. See page&nbsp;63 for additional information.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 90%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We may not have sufficient funds to satisfy indemnification claims of our directors and executive officers. See page&nbsp;63 for additional information.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 90%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 rights, potentially at a loss. See page&nbsp;64 for additional information.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 90%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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. See page&nbsp;66 for additional information.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 90%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We may engage one or more of our underwriters or one of their respective affiliates to provide additional services to us after this offering, which may include acting as M&amp;A advisor in connection with an initial business combination or as placement agent in connection with a related financing transaction. These financial incentives may cause them to have potential conflicts of interest in rendering any such additional services to us after this offering, including, for example, in connection with the sourcing and consummation of an initial business combination. See page&nbsp;67 for additional information.</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"></P>

<!-- Field: Page; Sequence: 47; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->35<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 3%; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 90%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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. See page&nbsp;64 for additional information.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 90%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Because we currently operate outside the U.S. we are, and if we effect our initial business combination with a company located outside of the U.S. we would be, subject to a variety of additional risks that may negatively impact our operations<B><I>.</I></B> See page&nbsp;71 for additional information.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 90%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">U.S. laws and regulations, including the Holding Foreign Companies Accountable Act and Accelerating Holding Foreign Companies Accountable Act, may restrict or eliminate our ability to complete a business combination with certain companies. See page&nbsp;91 for additional information.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 90%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Because foreign law could govern almost all of our material agreements, we may not be able to enforce our rights within such jurisdiction or elsewhere, which could result in a significant loss of business, business opportunities or capital. See page&nbsp;72 for additional information.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 90%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As the rights of shareholders under British Virgin Islands law differ from those under U.S. law, you may have fewer protections as a shareholder. See page&nbsp;74 for additional information.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 90%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #231f20">If the PRC government deems that the contractual arrangements in relation to the potential PRC target company, and the VIE, do not comply with PRC regulatory restrictions on foreign investment in the relevant industries, or if these regulations or the interpretation of existing regulations change in the future, we could be subject to severe penalties or be forced to relinquish our interests in those operations. See page&nbsp;</FONT><FONT STYLE="font-size: 10pt">78 <FONT STYLE="color: #231f20">for additional information.</FONT></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The PRC government may intervene or influence our operations at any time or may exert more control over offerings conducted overseas and foreign investment in China based issuers, which could result in a material change in the business operations and/or the value of our securities. Additionally, the governmental and regulatory interference could significantly limit or completely hinder our ability to offer or continue to offer securities to investors post business combination and cause the value of such securities to significantly decline or be worthless. <FONT STYLE="color: #231f20">See page&nbsp;</FONT>82 <FONT STYLE="color: #231f20">for additional information.</FONT></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes in the policies, regulations, rules, and the enforcement of laws of the PRC government may be quick with little advance notice and could have a significant impact upon our ability to consummate a business combination. See page&nbsp;82 for additional information.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 90%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #231f20">Other PRC governmental authorities may take the view now or in the future that an approval from them is required for an overseas offering by a company affiliated with Chinese businesses or persons or a business combination with a target business based in and primarily operating in China. See page&nbsp;</FONT><FONT STYLE="font-size: 10pt">84 <FONT STYLE="color: #231f20">for additional information.</FONT></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Given the Chinese government&rsquo;s significant oversight and discretion over the search for a target company, the CSRC and other PRC government agencies may exert more oversight and control over offerings that are conducted overseas and foreign investment in China-based issuers. As a result, we face uncertainty about future actions by the PRC government that could significantly affect our ability to offer or continue to offer securities to investors and cause the value of our securities to significantly decline or be worthless. See page&nbsp;86 for additional information.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If we become directly subject to the recent scrutiny, criticism and negative publicity involving US-listed Chinese companies, we may have to expend significant resources to investigate and resolve the matter which could harm our business operations, this offering and our reputation and could result in a loss of your investment in our ordinary shares, especially if such matter cannot be addressed and resolved favorably. See page&nbsp;88 for additional information.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #231f20">We may not be able to complete an initial business combination with a U.S. target company since such initial business combination may be subject to U.S. foreign investment regulations and review by a U.S. government entity such as the Committee on Foreign Investment in the United States (CFIUS), or ultimately prohibited. See page&nbsp;</FONT><FONT STYLE="font-size: 10pt">89 <FONT STYLE="color: #231f20">for additional information.</FONT></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<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"></P>

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

<!-- Field: Page; Sequence: 48; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->36<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 90%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #231f20">Trading in our securities may be prohibited under the HFCAA if the PCAOB determines that it cannot inspect or fully investigate our auditor. In that case, Nasdaq would delist our securities. The delisting of our securities, or the threat of their being delisted, may materially and adversely affect the value of your investment. Additionally, the inability of the PCAOB to conduct inspections may deprive our investors with the benefits of such inspections. See page&nbsp;</FONT><FONT STYLE="font-size: 10pt">89 <FONT STYLE="color: #231f20">for additional information.</FONT></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">While we do not believe that the approval of the CSRC is not required in connection with this offering; if required, we cannot predict whether we will be able to obtain such approval. See page&nbsp;94 for additional information.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Uncertainties with respect to the PRC legal system could adversely affect us. See page&nbsp;94 for additional information.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #231f20">Changes in China&rsquo;s economic, political or social conditions or government policies could have a material adverse effect on us and/or the PRC target company&rsquo;s business and results of operations we may pursue in the future. See page&nbsp;</FONT><FONT STYLE="font-size: 10pt">95 <FONT STYLE="color: #231f20">for additional information.</FONT></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 3%"> <FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT> </TD>
    <TD STYLE="width: 90%; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">You may
    face difficulties in protecting your interests and exercising your rights as a shareholder if we were to conduct substantially all
    of our operations in China, and our officers and directors currently and will likely reside outside the U.S. See page&nbsp;96 for
    additional information.</FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investors may experience difficulties in effecting service of legal process, enforcing foreign judgments or bringing original actions in the PRC based upon U.S. laws, including the federal securities laws or other foreign laws against us or the combined company (if we decide to consummate our initial business combination with a target business based in and primarily operating in China) and the officers and directors of the company and the combined company (if we decide to consummate our initial business combination with a target business based in and primarily operating in China). See page&nbsp;96 for additional information.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> <FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT> </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Because some of our
    executive officers and directors are located in or have significant ties to the PRC, you may face difficulties in protecting your
    interests, and your ability to protect your rights through the U.S. Federal courts may be limited. See page&nbsp;</FONT><FONT STYLE="font-size: 10pt">99
    for additional information.</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"></P>

<!-- Field: Page; Sequence: 49; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->37<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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="ca_001"></A>RISK FACTORS</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-align: justify"><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; text-align: left"><B>Risks Relating to our Search for, and Consummation
of or Inability to Consummate, a Business Combination</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-align: justify"><B><I>Our public shareholders may not be afforded
an opportunity to vote on our proposed business combination, which means we may complete our initial business combination even though
a majority of our public shareholders do not support such a combination.</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-align: justify; text-indent: 0.25in">We may not hold a shareholder
vote to approve our initial business combination unless the business combination would require shareholder approval under applicable British
Virgin Islands law or the rules&nbsp;of NASDAQ or if we decide to hold a shareholder vote for business or other reasons. Examples of transactions
that would not ordinarily require shareholder approval include asset acquisitions and share purchases, while transactions such as direct
mergers with our company or transactions where we issue more than 20% of our outstanding shares would require shareholder vote. For instance,
NASDAQ rules&nbsp;currently allow us to engage in a tender offer in lieu of a shareholder meeting but would still require us to obtain
shareholder approval if we were seeking to issue more than 20% of our outstanding shares to a target business as consideration in any
business combination. Therefore, if we were structuring a business combination that required us to issue more than 20% of our outstanding
shares, we would seek shareholder approval of such business combination. Except as required by law or NASDAQ rules, the decision as to
whether we will seek shareholder approval of a proposed business combination or will allow shareholders 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 shareholder approval. Accordingly, we may consummate our initial
business combination even if holders of a majority of the issued and outstanding ordinary shares do not approve of the business combination
we consummate. Please see the section entitled &ldquo;Proposed Business &mdash; Effecting Our Initial Business Combination &mdash; Shareholders
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">&nbsp;</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"><B><I>Our
independent registered public accounting firm&rsquo;s report contains an explanatory paragraph that expresses substantial doubt about
our ability to continue as a &ldquo;going concern</I></B></FONT><I>.<B>&rdquo;</B></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; text-align: justify; text-indent: 0.25in">As of June&nbsp;30, 2024,
we had no cash and a working capital deficit of $(148,576). 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; text-align: justify"><B><I>If we seek shareholder approval of our initial
business combination, Maxim (and its designees), our sponsor, officers and directors have agreed to vote in favor of such initial business
combination, regardless of how our public shareholders vote.</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-align: justify; text-indent: 0.25in"> Unlike other blank check
companies in which the initial shareholders agree to vote their founder shares in accordance with the majority of the votes cast by the
public shareholders in connection with an initial business combination, if we submit our initial business combination to our public shareholders
for a vote, our initial shareholders, Maxim (and its designees), our officers and directors will count towards this quorum and they have
agreed to vote any shares held by them in favor of our initial business combination. We expect that our sponsor and its permitted transferees
will own at least 20% of our issued and outstanding ordinary shares at the time of any such shareholder vote. As a result, in addition
to our initial shareholder&rsquo;s founder shares and private placement shares and the Representative&rsquo;s Shares, we would need only
1,798,751, or 32.7% (assuming all issued and outstanding shares are voted and the over-allotment option is not exercised), or 143,751,
or 2.9% (assuming only the minimum number of shares representing a quorum are voted and the over-allotment option is not exercised),
of the 5,500,000 public shares sold in this offering to be voted in favor of a transaction (if the approval requirement was a majority
of shares voted and the minimum number of shares required for a quorum attended the meeting and assuming the over-allotment option has
not been exercised) in order to have our initial business combination approved. Accordingly, if we seek shareholder approval of our initial
business combination, it is more likely that the necessary shareholder approval will be received than would be the case if such persons
agreed to vote their founder shares in accordance with the majority of the votes cast by our public shareholders. </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: 50; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->38<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B><I>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 shareholder approval of the business combination.</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-align: justify; text-indent: 0.25in">At the time of your investment
in us, you will not be provided with an opportunity to evaluate the specific merits or risks of one or more target businesses. Since our
Board of Directors may complete a business combination without seeking shareholder approval, public shareholders may not have the right
or opportunity to vote on the business combination, unless we seek such shareholder approval. Accordingly, if we do not seek shareholder
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 shareholders 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; text-align: justify"><B><I>The ability of our public shareholders 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 a business combination with a target.</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-align: justify; text-indent: 0.25in">We may seek to enter into
a business combination transaction 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 shareholders 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 business combination. Consequently, if accepting all properly
submitted redemption requests would cause us to fail to maintain the amount necessary to satisfy a closing condition , we may 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 a business combination transaction 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; text-align: justify"><B><I>The ability of our public shareholders 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.</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-align: justify; text-indent: 0.25in">At the time we enter into
an agreement for our initial business combination, we will not know how many shareholders may exercise their redemption rights, and therefore
we 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 provisions of the Class&nbsp;B
ordinary shares result in the issuance of Class&nbsp;A ordinary shares on a greater than one-to-one basis upon conversion of the Class&nbsp;B
shares at the time of the initial business combination, or earlier at the option of the holders, as described herein and in our amended
and restated memorandum and articles of association. The above considerations may limit our ability to complete the most desirable business
combination available to us or optimize our capital structure.</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: 51; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->39<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Our
search for a business combination, and any target business with which we ultimately consummate a business combination, may be materially
adversely affected by the coronavirus (COVID-19) pandemic and the status of debt and equity markets</I></B></FONT>.</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; text-indent: 0.25in">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 coronavirus (COVID-19) pandemic and the status of debt and equity markets. The COVID-19 pandemic has adversely affected (and a
significant pandemic of other infectious diseases could result in an additional widespread health crisis that could adversely affect)
the economies and financial markets worldwide, and the business of any potential target business with which we consummate a business
combination could be materially and adversely affected by the COVID-19 pandemic and such other pandemic. Furthermore, we may be unable
to complete a business combination if continued concerns relating to COVID-19 continue to restrict travel, limit the ability to have
meetings with potential investors or result in the target company&rsquo;s personnel, vendors and services providers being 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 extended 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. In
addition, our ability to consummate a transaction may be dependent on our ability to raise equity and debt financing which may be adversely
impacted by COVID-19 and other events, 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.</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"><B><I>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 shareholders may only receive $10.00 per share, or less
than such amount in certain circumstances, and our rights will expire worthless.</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-align: justify; text-indent: 0.25in"> Our sponsor, officers
and directors have agreed that we must complete our initial business combination within 12 months from the closing of this offering&nbsp;(or
up to 18 months from the closing of this offering if we extend the period of time to consummate a business combination by the full amount
of time without shareholder approval). We may not be able to find a suitable target business and complete our initial business combination
within such time period. If we have not completed our initial business combination within such time 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 (which interest shall be net of taxes payable, and less up to $200,000 of interest to pay dissolution expenses) divided
by the number of then outstanding public shares, which redemption will completely extinguish public shareholders&rsquo; rights as shareholders
(including the right to receive further liquidation 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 shareholders and our Board of Directors, liquidate
and dissolve, subject in each case to our obligations under British Virgin Islands law to provide for claims of creditors and the requirements
of other applicable law. In certain circumstances, our public shareholders may receive less than $10.00 per share on the redemption of
their shares. See &ldquo;Risk Factors &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 shareholders may be less than $10.00 per share&rdquo; and other risk factors
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; text-align: justify"><B><I>The requirement that we complete our initial
business combination within the prescribed time frame may give potential target businesses leverage over us in negotiating a 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 shareholders.</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-align: justify; text-indent: 0.25in"> Any potential target
business with which we enter into negotiations concerning a business combination will be aware that we must complete our initial business
combination within 12 months from the closing of this offering (or up to 18 months from the closing of this offering if we extend the
period of time to consummate a business combination by the full amount of time without shareholder approval). Consequently, such target
business may obtain leverage over us in negotiating a 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">&nbsp;</P>

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

<!-- Field: Page; Sequence: 52; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->40<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>

<!-- Field: Split-Segment; Name: 1 -->
<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"><B><I>If we seek shareholder approval of our
initial business combination, Maxim (and its designees), our sponsor, directors, officers, advisors and their affiliates may elect to
purchase shares from public shareholders, which may influence a vote on a proposed business combination and reduce the public &ldquo;float&rdquo;
of our Class&nbsp;A ordinary shares.</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-align: justify; text-indent: 0.25in">If we seek shareholder 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, Maxim (and its designees), our sponsor, directors, officers, advisors or their affiliates may purchase shares
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. Please&nbsp;see &ldquo;<B><I>Proposed Business &mdash; Permitted purchases of our securities</I></B>&rdquo;
for a description of how such persons will determine which shareholders to seek to acquire shares from. Such a purchase may include a
contractual acknowledgement that such shareholder, 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 Maxim (and its designees), our sponsor, directors, officers,
advisors or their affiliates purchase shares in privately negotiated transactions from public shareholders who have already elected to
exercise their redemption rights, such selling shareholders would be required to revoke their prior elections to redeem their shares.
The price per share paid in any such transaction may be different than the amount per share a public shareholder would receive if it
elected to redeem its shares in connection with our initial business combination. The purpose of such purchases could be 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. This may result in the completion
of our initial business combination that may not otherwise have been possible.</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; text-indent: 0.25in">In addition, if such purchases
are made, the public &ldquo;float&rdquo; of our Class&nbsp;A ordinary shares and the number of beneficial holders of our securities may
be reduced, possibly making 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>If a shareholder 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.</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-align: justify; text-indent: 0.25in">We will comply with the
tender offer rules&nbsp;or proxy rules, as applicable, when conducting redemptions in connection with our initial business combination.
Despite our compliance with these rules, if a shareholder fails to receive our tender offer or proxy materials, as applicable, such shareholder
may not become aware of the opportunity to redeem its shares. In addition, the tender offer documents or proxy materials, 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. In the event that a shareholder fails to comply with these
procedures, its shares may not be redeemed. See &ldquo;<B><I>Proposed Business &mdash; Business Strategy &mdash; Tendering share certificates
in connection with a tender offer or redemption rights</I></B>.&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; text-align: justify"><B><I>You will not be entitled to protections
normally afforded to investors of many other blank check companies.</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-align: justify; text-indent: 0.25in">Since the net proceeds of
this offering and the sale of the private placement units 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 U.S. securities laws.
However, because our securities will be listed on a national securities exchange, we are exempt from rules&nbsp;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&nbsp;419. Moreover, if this offering were subject to Rule&nbsp;419,
that rule&nbsp;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&nbsp;419, please see &ldquo;<B><I>Proposed Business &mdash;Comparison of This Offering
to Those of Blank Check Companies Subject to Rule&nbsp;419.</I></B>&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: 52; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->41<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B><I>If we seek shareholder 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 shareholders are deemed to hold in excess of 15% of our Class&nbsp;A ordinary shares, you will lose the ability to redeem all such
shares in excess of 15% of our Class&nbsp;A ordinary shares.</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-align: justify; text-indent: 0.25in"> If we seek shareholder
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 memorandum and articles of association will provide that a public shareholder, together
with any affiliate of such shareholder or any other person with whom such shareholder 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 15% of the shares sold in this offering, which we refer to as the &ldquo;Excess Shares.&rdquo; However, we would not
be restricting our shareholders&rsquo; ability to vote all of their shares (including Excess Shares) for or against or abstain from voting
on 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 15% and, in order to dispose of such
shares, would be required to sell your shares in open market transactions, 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; text-align: justify"><B><I>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 shareholders may receive only approximately $10.00 per share,
or less in certain circumstances, on our redemption, and our rights will expire worthless.</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-align: justify; text-indent: 0.25in"> We expect to encounter
intense 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, domestic and international, 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 greater technical, human and other resources or more local industry knowledge than we do 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 units, 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 and may negatively
impact the acquisition terms that we are able to negotiate. Furthermore, if we are obligated to pay cash for the Class&nbsp;A ordinary
shares redeemed and, in the event we seek shareholder approval of our initial business combination, we make purchases of our Class&nbsp;A
ordinary shares, potentially reducing the resources available to us for our initial business combination. Any of these obligations may
place us at a competitive disadvantage in successfully negotiating a business combination. If we are unable to complete our initial business
combination, our public shareholders may receive only approximately $10.00 per share (or less in certain circumstances) on the liquidation
of our trust account and our rights will expire worthless. In certain circumstances, our public shareholders may receive less than $10.00
per share on the redemption of their shares. See &ldquo;<B><I>Risk Factors &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 shareholders may be less than $10.00 per share</I></B>&rdquo;
and other risk factors 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; text-align: justify; text-indent: 0.25in"> We believe that, upon
the closing of this offering, the funds available to us outside of the trust account, will be sufficient to allow us to operate for at
least the next 12 months (or up to 18 months from the closing of this offering if we extend the period of time to consummate a business
combination by the full amount of time without shareholder approval); however, we cannot assure you that our estimate is accurate. Of
the funds available to us, we could use a portion of the funds available to us to pay fees to consultants to assist us with our search
for a target business. We could also use a portion of the funds as a down payment or to fund a &ldquo;no-shop&rdquo; provision (a provision
in letters of intent designed to keep target businesses from &ldquo;shopping&rdquo; around for transactions with other companies on terms
more favorable to such target businesses) with respect to a particular proposed business combination, although we do not have any current
intention to do so. If we entered into a letter of intent where we paid for the right to receive exclusivity from a target business and
were subsequently required to forfeit such funds (whether as a result of our breach or otherwise), we might not have sufficient funds
to continue searching for, or conduct due diligence with respect to, a target business. If we are unable to complete our initial business
combination, our public shareholders may receive only approximately $10.00 per share (or less in certain circumstances) on the liquidation
of our trust account and our rights will expire worthless. In certain circumstances, our public shareholders may receive less than $10.00
per share on the redemption of their shares. See &ldquo;<B><I>Risk Factors &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 shareholders may be less than $10.00 per share</I></B>&rdquo;
and other risk factors 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"></P>

<!-- Field: Page; Sequence: 53; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->42<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>If the net proceeds of this offering and
the sale of the private placement units not being held in the trust account are insufficient, it could limit the amount of cash 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, to pay our taxes and to complete our initial business combination.</I></B></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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Of the net proceeds of
this offering and the sale of the private placement units, only approximately $1,400,000 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 $850,000, 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 $850,000,
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. Neither 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. In the event that the initial business combination does not close, the company
may use a portion of the working capital held outside the trust account to repay such loaned amounts but no proceeds from the trust account
would be used for such repayment. Up to $ 1,150,000 of such loans may be convertible into private placement-equivalent units at a price
of $10.00 per private placement unit at the option of the lender. If the company does not complete a business combination, the loans
would be repaid out of funds not held in the trust account, and only to the extent available. 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 shareholders may only receive approximately $10.00 per share (or less in certain circumstances)
on our redemption of our public shares, and our rights will expire worthless. In certain circumstances, our public shareholders may receive
less than $10.00 per share on the redemption of their shares. See &ldquo;<B><I>Risk Factors &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 shareholders may be less
than $10.00 per share</I></B>&rdquo; and other risk factors 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; text-align: justify"><B><I>If third parties bring claims against us,
the proceeds held in the trust account could be reduced and the per-share redemption amount received by shareholders may be less than
$10.00 per share.</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-align: justify; text-indent: 0.25in">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 (other than our independent auditors), 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 shareholders, such parties may not execute such agreements, or even if they execute such agreements they may not be prevented
from bringing claims against the trust account, including, but not limited to, fraudulent inducement, breach of fiduciary responsibility
or other similar claims, as well as claims challenging the enforceability of the waiver, in each case in order to gain advantage with
respect to a claim against our assets, including the funds held in the trust account. If any third-party refuses to execute an agreement
waiving such claims to the monies held in the trust account, our management will perform an analysis of the alternatives available to
it and will only enter into an agreement with a third party that has not executed a waiver if management believes that such third party&rsquo;s
engagement would be significantly more beneficial to us than any alternative.</P>

<P STYLE="font: 10pt 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; text-indent: 0.25in">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
shareholders could be less than the $10.00 per share initially held in the trust account, due to claims of such creditors. WWC, P.C.,
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">&nbsp;</P>

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

<!-- Field: Page; Sequence: 54; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->43<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">Our sponsor has agreed that
it will be liable to us if and to the extent any claims by a vendor for services rendered or products sold to us, or a prospective target
business with which we have discussed entering into a transaction agreement, reduce the amount of funds in the trust account to below
(i)&nbsp;$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 the value of the trust assets, in each case net of the interest which may be withdrawn to pay
taxes, except as to any claims by a third party who executed a waiver of any and all rights to seek access to the trust account and except
as to any claims under our indemnity of the underwriters of this offering against certain liabilities, including liabilities under the
Securities Act. Moreover, in the event that an executed waiver is deemed to be unenforceable against a third party, our sponsor will
not be responsible to the extent of any liability for such third -party claims. We have not independently verified whether our sponsor
has sufficient funds to satisfy their indemnity obligations and believe that our sponsor&rsquo;s only assets are securities of our company.
Our sponsor may not have sufficient funds available to satisfy those obligations. We have not asked our sponsor to reserve for such obligations,
and therefore, no funds are currently set aside to cover any such 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&nbsp;(subject to increase of up to an additional $0.20 per share in the event that our sponsor elects to extend the
period of time to consummate a business combination by the full six months, as described in more detail in this prospectus). 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Our directors may decide not to enforce
the indemnification obligations of&nbsp;our sponsor, resulting in a reduction in the amount of funds in the trust account available for
distribution to our public shareholders.</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-align: justify; text-indent: 0.25in">In the event that the proceeds
in the trust account are reduced below the lesser of (i)&nbsp;$10.00 per public share or (ii)&nbsp;such lesser amount per share held
in the trust account as of the date of the liquidation of the trust account 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 may choose not to do so in any particular instance. If our independent directors choose
not to enforce these indemnification obligations, the amount of funds in the trust account available for distribution to our public shareholders
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; text-align: justify"><B><I>If, after we distribute the proceeds in
the trust account to our public shareholders, we file a bankruptcy petition or an insolvency petition or an involuntary bankruptcy petition
is filed against us that is not dismissed, a bankruptcy court may seek to recover such proceeds, and the members of our Board of Directors
may be viewed as having breached their fiduciary duties to our creditors, thereby exposing the members of our Board of Directors and
us to claims of punitive damages.</I></B></P>

<P STYLE="font: 10pt 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; text-indent: 0.25in">If, after we distribute
the proceeds in the trust account to our public shareholders, we file a bankruptcy petition or an insolvency petition or an involuntary
bankruptcy petition is filed against us that is not dismissed, any distributions received by shareholders 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 shareholders. 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 shareholders from the trust account prior to addressing the claims of creditors.</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: 55; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->44<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B><I>If, before distributing the proceeds in
the trust account to our public shareholders, we file a bankruptcy petition or an insolvency 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 shareholders
and the per-share amount that would otherwise be received by our shareholders in connection with our liquidation may be reduced.</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-align: justify; text-indent: 0.25in">If, before distributing
the proceeds in the trust account to our public shareholders, we file a bankruptcy petition or an insolvency 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 shareholders. To the extent any bankruptcy claims deplete the trust account, the per-share amount that would otherwise be received
by our shareholders in connection with our liquidation may be reduced.</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"><B><I>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.</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-align: justify; text-indent: 0.25in"> As described in the risk
factor below entitled &ldquo;<B><I>Changes in laws or regulations, or a failure to comply with any laws and regulations, may adversely
affect our business, investments and results of operations,</I></B>&rdquo; the SEC&rsquo;s adopting release on the SPAC Rules included
guidance on the potential for SPACs to be regulated under the Investment Company Act and its associated regulations. Whether a SPAC is
an investment company will be a question of facts and circumstances. If our facts and circumstances change over time, we will update
our disclosure to reflect how those changes impact the risk that we may be considered to be operating as an unregistered investment company.
We can give no assurance that a claim will not be made that we have been operating as an unregistered investment company. </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; text-indent: 0.25in">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">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">restrictions
    on the nature of our investments; and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">restrictions
    on the issuance of securities;</FONT></TD></TR>
  </TABLE>
<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">each of which may make it difficult for us to
complete 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; text-align: justify; text-indent: 0.25in">In addition, we may have
imposed upon us burdensome requirements, including:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">registration
    as an investment company;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">adoption of
    a specific form of corporate structure; and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">reporting,
    record keeping, voting, proxy and disclosure requirements and other rules&nbsp;and regulations.</FONT></TD></TR>
  </TABLE>
<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; text-indent: 0.25in">There is currently uncertainty
concerning the applicability of the Investment Company Act to a special purpose acquisition company, like us, and we may in the future
be subject to a claim that we have been operating as an unregistered investment company. If we are deemed to be an investment company
for purposes of the Investment Company Act, we might be forced to abandon our efforts to complete a Business Combination and instead
be required to liquidate. If we are required to liquidate, our investors would not be able to realize the benefits of owning stock in
a successor operating business, including the potential appreciation in the value of our shares and rights following such a transaction,
and our rights would 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; text-align: justify; text-indent: 0.25in">The longer that the funds
in the trust account are held in short-term U.S. government securities or in money market funds invested exclusively in such securities,
the greater the risk that we may be considered an unregistered investment company, in which case we may be required to liquidate.</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"><B><I>Changes in laws or regulations, or a failure
to comply with any laws and regulations, may adversely affect our business, investments and results of operations.</I></B></P>

<P STYLE="font: 10pt 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; text-indent: 0.25in">We are subject to laws and
regulations enacted by national, regional and local governments. In particular, we will be required to comply with certain SEC and other
legal requirements. Compliance with, and monitoring of, applicable laws and regulations may be difficult, time consuming and costly.
Those laws and regulations and their interpretation and application may also change from time to time and those changes could have a
material adverse effect on our business, investments and results of operations. In addition, a failure to comply with applicable laws
or regulations, as interpreted and applied, could have a material adverse effect on our business and results of operations.</P>

<P STYLE="font: 10pt 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: 56; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->45<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">The British Virgin Islands,
together with several other non-European Union jurisdictions, have recently introduced legislation aimed at addressing concerns raised
by the Council of the European Union as to offshore structures engaged in certain activities which attract profits without real economic
activity. With effect from January&nbsp;1, 2019, the Economic Substance (Companies and Limited Partnerships) Act, 2018 (the &ldquo;ESA&rdquo;)
came into force in the British Virgin Islands introducing certain economic substance requirements for British Virgin Islands tax resident
companies which are engaged in certain &ldquo;relevant activities&rdquo;, which in the case of companies incorporated before January&nbsp;1,
2019 will apply in respect of financial years commencing June&nbsp;30, 2019 onwards. However, it is not anticipated that the company
itself will be subject to any such requirements prior to any business combination and thereafter the company may still remain out of
scope of the legislation or else be subject to more limited substance requirements. Although it is presently anticipated that the ESA
will have little material impact on the company or its operations, as the legislation is new and remains subject to further clarification
and interpretation it is not currently possible to ascertain the precise impact of these legislative changes on the company.</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"><B><I>Because we are not limited to a particular
industry or 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.</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-align: justify; text-indent: 0.25in">Our efforts to identify
and complete a prospective initial business combination target will not be limited to a particular industry or sector. While we may pursue
an initial business combination opportunity in any industry or sector, we intend to complete a business combination with an operating
company in the Environmental, Sustainability and Governance (ESG) and material technology sectors, which we believe have an optimistic
growth trajectory for the coming years. There is no restriction on the geographic location for our target search, and it is our intent
to pursue targets globally. However, we will not, under our amended and restated memorandum and articles of association, be permitted
to effectuate our initial business combination with another blank check company or similar company with nominal operations. Because we
have not yet identified 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
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 shareholders who choose to remain shareholders following the business combination could suffer a reduction in the value of their
shares. Such shareholders are unlikely to have a remedy for such reduction in value.</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"><B><I>We may seek acquisition opportunities in
industries or sectors that may be outside of our management&rsquo;s areas of expertise.</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-align: justify; text-indent: 0.25in">We will consider a business
combination outside of our management&rsquo;s areas of expertise if a business combination candidate is presented to us and we determine
that such candidate offers an attractive acquisition opportunity for our company. 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 a business combination candidate. In the
event we elect to pursue an acquisition 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 shareholders who choose to remain
shareholders following our initial business combination could suffer a reduction in the value of their shares. Such shareholders are
unlikely to have a remedy for such reduction in value.</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; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->46<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B><I>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.</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-align: justify; text-indent: 0.25in">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 shareholders 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 shareholder approval of the transaction is required by law, or we decide to obtain shareholder approval
for business or other legal reasons, it may be more difficult for us to attain shareholder 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 shareholders may receive only approximately $10.00 per share on the liquidation of our trust account and our rights 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; text-align: justify"><B><I>We may seek acquisition opportunities with
a financially unstable business or an entity lacking an established record of revenue or earnings.</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-align: justify; text-indent: 0.25in">To the extent we complete
our initial business combination with a financially unstable business or an entity lacking an established record of sales 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; text-align: justify"><B><I>Unless we complete our initial business
combination with an affiliated entity, or our board of directors 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 or from an independent accounting firm,
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.</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-align: justify; text-indent: 0.25in">Unless we complete our initial
business combination with an affiliated entity, or our Board of Directors 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 another independent
firm that commonly renders valuation opinions or from an independent accounting firm that the price we are paying for a target is fair
to our company from a financial point of view. If no opinion is obtained, our shareholders will be relying on the business judgment of
our Board of Directors, who will have significant discretion in choosing the standard used to establish the fair market value of the
target or targets, and different methods of valuation may vary greatly in outcome from one another. Such standards used will be disclosed
in our tender offer documents or proxy solicitation materials, as applicable, related to our initial business combination. However, if
our Board of Directors is unable to determine the fair value of an entity with which we seek to complete an initial business combination,
we will be required to obtain an opinion as described above. We are not prohibited from pursuing an initial business combination with
a company that is affiliated with our sponsor, officers or directors, or making the acquisition through a joint venture or other form
of shared ownership with our sponsor, officers or directors. In the event we seek to complete an initial business combination with a
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 firm that commonly renders valuation opinions or an independent
accounting firm, 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">&nbsp;</P>

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

<!-- Field: Page; Sequence: 58; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->47<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B><I>We may issue additional Class&nbsp;A ordinary
shares or preference shares to complete our initial business combination or under an employee incentive plan after completion of our
initial business combination. We may also issue Class&nbsp;A ordinary shares upon the conversion of the Class&nbsp;B ordinary shares
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 memorandum and articles of association. Any such issuances would dilute the interest of our shareholders
and likely present other risks.</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-align: justify; text-indent: 0.25in">Our amended and restated
memorandum and articles of association will authorize the issuance of up to 100,000,000 Class&nbsp;A ordinary shares, with no par value,
10,000,000 Class&nbsp;B ordinary shares, with no par value and 1,000,000 preference shares, with no par value. Immediately after this
offering, there will be 93,972,500 and 8,625,000 (assuming in each case that the underwriters have not exercised their over-allotment
option) authorized but unissued Class&nbsp;A and Class&nbsp;B ordinary shares available, respectively, for issuance but not upon conversion
of the Class&nbsp;B ordinary shares. Class&nbsp;B ordinary shares are convertible into Class&nbsp;A ordinary shares, initially at a one-for-one
ratio but subject to adjustment as set forth herein and in our amended and restated memorandum and articles of association. Immediately
after this offering, there will be no preference shares issued and outstanding.</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; text-indent: 0.25in">We may issue a substantial
number of additional ordinary shares, and may issue preference shares, in order to complete our initial business combination or under
an employee incentive plan after completion of our initial business combination. We may also issue Class&nbsp;A ordinary shares upon
conversion of the Class&nbsp;B ordinary shares 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 memorandum and articles of association. However, our amended
and restated memorandum and articles of association will provide, among other things, that prior to our initial business combination,
we may not issue additional ordinary shares that would entitle the holders thereof to (i)&nbsp;receive funds from the trust account or
(ii)&nbsp;vote on any initial business combination. The issuance of additional ordinary shares or preference shares:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">may significantly
    dilute the equity interest of investors in this offering;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">may subordinate
    the rights of holders of ordinary shares if preference shares are issued with rights senior to those afforded our ordinary shares;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">could cause
    a change in control if a substantial number of ordinary shares are issued, which may affect, among other things, our ability to use
    our net operating loss carry forwards, if any, and could result in the resignation or removal of our present officers and directors;
    and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">may adversely
    affect prevailing market prices for our units, ordinary shares and/or rights.</FONT></TD></TR>
  </TABLE>
<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><I>Resources could be wasted in researching
acquisitions 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 shareholders 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 rights will expire
worthless.</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-align: justify; text-indent: 0.25in">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 shareholders may receive only approximately $10.00 per share
on the liquidation of our trust account and our rights will expire worthless. See &ldquo;<B><I>Risk Factors &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 shareholders
may be less than $10.00 per share</I></B>&rdquo; and other risk factors.</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: 59; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->48<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B><I>We may engage in a business combination
with one or more target businesses that have relationships with entities that may be affiliated with our sponsor, officers, directors
or existing holders which may raise potential conflicts of interest.</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-align: justify; text-indent: 0.25in">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 and directors. Our officers and directors also serve as officers and board members for other entities, including, without limitation,
those described under &ldquo;<B><I>Management &mdash; Conflicts of Interest</I></B>.&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
a business combination with any such entity or entities. Although we will not be specifically focusing on, or targeting, any transaction
with any affiliated entities, we would pursue such a transaction if 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 another independent firm that commonly
renders valuation opinions or from an independent accounting firm, regarding the fairness to our company from a financial point of view
of a business combination with one or more domestic or international businesses affiliated with our officers, directors or existing holders,
potential conflicts of interest still may exist and, as a result, the terms of the business combination may not be as advantageous to
our public shareholders 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; text-align: justify; text-indent: 0.25in">The time and costs required
to select and evaluate a target business and to structure and complete the business combination cannot presently be ascertained with
any degree of certainty. Any costs incurred with respect to the identification and evaluation of a prospective target business with which
a business combination is not ultimately completed will result in a loss to us and reduce the amount of capital available to otherwise
complete a 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; text-align: justify"><B><I>Affiliates of our Sponsor may be involved
in other blank check companies like ours and may direct potential targets to those companies rather than to us.</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-align: justify; text-indent: 0.25in">Affiliates of our Sponsor
may invest in or be involved in the management of other SPACs. SPACs related to such affiliates may compete with us for acquisition opportunities.
Because such affiliates do not owe us a fiduciary duty, they may direct opportunities to the other SPACs with which they have a relationship
rather than to 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; text-align: justify; text-indent: 0.25in"> Our CEO, CFO and chairman,
Mr. Claudius Tsang has been a member of the founding team of A SPAC II Acquisition Corp. (&ldquo;ASCB&rdquo;), a special purpose acquisition
company incorporated for the purposes of effecting a business combination, since June 2021. Mr. Tsang also serves as the Chief Financial
Officer of ASCB. ASCB completed its initial public offering in May 5, 2022, generating gross proceeds of $200,000,000. As of the date
of this prospectus, ASCB is in search of business combination targets. Because ASCB has not identified a target business, Mr. Tsang has
a pre-existing fiduciary obligation to present potential target businesses to ASCB, and will therefore present any potential target businesses
to ASCB prior to presenting them to 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; text-align: justify; text-indent: 0.25in"> In April 2021, Mr. Claudius
Tsang was a member of the founding team of JVSPAC Acquisition Corp. (&ldquo;JVSPAC&rdquo;), a SPAC incorporated for the purposes of effecting
a business combination. Mr. Tsang has served as the Chief Financial Officer since June 2021, as a director since January 2024 and as
Chief Executive Officer from April 2021 to June 2021 of JVSPAC. JVSPAC completed its initial public offering in January 23, 2024, generating
gross proceeds of $57,500,000. On April 8, 2024, JVSPAC announced that it had entered into an agreement and plan of merger with Hotel101
Global Pte. Ltd and its affiliates (&ldquo;HOTEL101&rdquo;), a hotel prop-tech operator. In the event that JVSPAC is unable to consummate
the business combination with HOTEL101 and needs to identify a target business, Mr. Tsang has a pre-existing fiduciary obligation to
present potential target businesses to JVSPAC, and will therefore present any potential target businesses to it prior to presenting them
to 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; text-align: justify"><B><I>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.</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-align: justify; text-indent: 0.25in"> On September&nbsp;3,
2021, our sponsor purchased 1,437,500 founder shares for an aggregate purchase price of $25,000, or approximately $0.017 per share.&nbsp;Prior
to the initial investment in the company of $25,000 by our sponsor, the company had no assets, tangible or intangible. On July&nbsp;23,
2024, we issued to our sponsor 1,581,250 founder shares for an aggregate purchase price of $25,000 or approximately $0.016 per share,
and subsequently 1,437,500 of the founder shares were repurchased by the Company for an aggregate purchase price of $25,000. As such,
our sponsor will own 20% of our issued and outstanding shares after this offering (assuming it does not purchase units in this offering
and excluding the private placement shares and the Representative&rsquo;s Shares). If we increase or decrease the size of the offering,
we will effect a capitalization or share surrender or redemption or other appropriate mechanism, as applicable, immediately prior to
the consummation of the offering in such amount as to maintain the ownership of our sponsor prior to this offering at 20% of our issued
and outstanding ordinary shares upon the consummation of this offering&nbsp;(excluding the private placement shares and the Representative&rsquo;s
Shares). Our sponsor intends to transfer an aggregate of 60,000 of its founder shares, or 20,000 each to our three independent directors,
at the closing of 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 280,000 (or 288,250 if the underwriters&rsquo; over-allotment option is exercised
in full) private placement units for a purchase price of $2,800,000, in the aggregate or $2,882,500 in the aggregate if the underwriters&rsquo;
over-allotment option is exercised in full), or $10.00 per unit. Each private placement unit consists of one Class&nbsp;A ordinary share
and one right to receive of one-fourth (1/4) of one Class&nbsp;A ordinary share upon the completion of our initial business combination.
Such rights will also be worthless if we do not complete a 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; text-align: justify; text-indent: 0.25in"> The founder shares are
identical to the Class&nbsp;A ordinary shares included in the units being sold in this offering except that (i)&nbsp;holders of the founder
shares have the right to vote on the election of directors prior to our initial business combination, (ii)&nbsp;the founder shares are
subject to certain transfer restrictions, (iii)&nbsp;our sponsor, officers and directors have entered into a letter agreement with us,
pursuant to which they have agreed (A)&nbsp;to waive their redemption rights with respect to their founder shares and public shares in
connection with the completion of our initial business combination and (B)&nbsp;to 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 12 months from
the closing of this offering (or up to 18 months from the closing of this offering if we extend the period of time to consummate a business
combination by the full amount of time without shareholder approval) (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;the founder shares will automatically convert into our Class&nbsp;A ordinary shares at the time of our initial
business combination, or earlier at the option of the holder, on a one-for-one basis, subject to adjustment pursuant to certain anti-dilution
rights, as described herein and in our amended and restated memorandum and articles of association. </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: 60; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->49<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>The value of the founder shares following
completion of our initial business combination is likely to be substantially higher than the nominal price paid for them, even if the
trading price of our ordinary shares at such time is substantially less than $10.00 per share.</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-align: justify; text-indent: 0.25in">Upon the closing of this
offering, assuming no exercise of the underwriter&rsquo;s over-allotment option, our sponsor will have invested in us an aggregate of
$2,825,000, comprised of the $25,000 purchase price for the founder shares and the $2,800,000 purchase price for the private placement
units. Assuming a trading price of $10.00 per share upon consummation of our initial business combination, the 1,375,000 founder shares
would have an aggregate implied value of $13,750,000. Even if the trading price of our Class&nbsp;A Ordinary Shares was as low as approximately
$1.64 per share, the value of the founder shares and private placement units would be equal to the sponsor&rsquo;s initial investment
in us, assuming no over allotment. As a result, our sponsor is likely to be able to recoup its investment in us and make a substantial
profit on that investment, even if our public shares have lost significant value. Accordingly, our management team, which owns interests
in our sponsor, may have an economic incentive that differs from that of the public shareholders to pursue and consummate an initial
business combination rather than to liquidate and to return all of the cash in the trust to the public shareholders, even if that business
combination were with a riskier or less-established target business. For the foregoing reasons, you should consider our management team&rsquo;s
financial incentive to complete an initial business combination when evaluating whether to redeem your shares prior to or in connection
with the 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; text-align: justify"><B><I>We may issue notes or other debt securities,
or otherwise incur substantial debt, to complete a business combination, which may adversely affect our leverage and financial condition
and thus negatively impact the value of our shareholders&rsquo; investment in us.</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-align: justify; text-indent: 0.25in">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">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 92%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">default
    and foreclosure on our assets if our operating revenues after an initial business combination are insufficient to repay our debt
    obligations;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">acceleration
    of our obligations to repay the indebtedness even if we make all principal and interest payments when due if we breach certain covenants
    that require the maintenance of certain financial ratios or reserves without a waiver or renegotiation of that covenant;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our immediate
    payment of all principal and accrued interest, if any, if the debt security is payable on demand;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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;</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"></P>

<!-- Field: Page; Sequence: 61; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->50<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our inability
    to pay dividends on our ordinary shares;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 ordinary
    shares if declared, expenses, capital expenditures, acquisitions and other general corporate purposes;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">limitations
    on our flexibility in planning for and reacting to changes in our business and in the industry in which we operate;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">increased vulnerability
    to adverse changes in general economic, industry and competitive conditions and adverse changes in government regulation; and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">limitations
    on our ability to borrow additional amounts for expenses, capital expenditures, acquisitions, debt service requirements, execution
    of our strategy and other purposes and other disadvantages compared to our competitors who have less debt.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt 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><I>We may only be able to complete one business
combination with the proceeds of this offering and the sale of the private placement units, which will cause us to be solely dependent
on a single business which may have a limited number of products or services. This lack of diversification may negatively impact our
operations and profitability.</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-align: justify; text-indent: 0.25in">Of the net proceeds from
this offering and the sale of the private placement units, $55,000,000 (or $63,250,000 if the underwriters&rsquo; over-allotment option
is exercised in full) will be available upon the completion our business combination and pay related fees and expenses, assuming no redemption.</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; text-indent: 0.25in">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 risks. Further, we would not be able to diversify our operations or benefit from the possible spreading of
risks or offsetting of losses, unlike other entities which may have the resources to complete several business combinations in different
industries or different areas of a single industry. Accordingly, the prospects for our success may be:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">solely dependent
    upon the performance of a single business, property or asset; or</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 92%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">dependent upon
    the development or market acceptance of a single or limited number of products, processes or services.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt 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; text-indent: 0.25in">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; text-align: justify"><B><I>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.</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-align: justify; text-indent: 0.25in">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. 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">&nbsp;</P>

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

<!-- Field: Page; Sequence: 62; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->51<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B><I>We do not have a specified maximum redemption
threshold. The absence of such a redemption threshold may make it possible for us to complete a business combination with which a substantial
majority of our shareholders have redeemed their Class&nbsp;A ordinary shares.</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-align: justify; text-indent: 0.25in">Our amended and restated
memorandum and articles of association will not provide a specified maximum redemption threshold. As a result, we may be able to complete
our initial business combination even though a substantial majority of our public shareholders do not agree with the transaction and
have redeemed their shares or, if we seek shareholder 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 Class&nbsp;A ordinary shares that are validly submitted for redemption plus any amount required to
satisfy cash conditions pursuant to the terms of the proposed business combination exceed the aggregate amount of cash available to us,
we will not complete the business combination or redeem any shares, all Class&nbsp;A ordinary shares 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; text-align: justify"><B><I>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.
We cannot assure you that we will not seek to amend our amended and restated memorandum and articles of association or governing instruments
in a manner that will make it easier for us to complete our initial business combination that our shareholders may not support.</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-align: justify; text-indent: 0.25in">In order to effectuate a
business combination, blank check companies have, in the past, amended various provisions of their charters and modified governing instruments.
For example, blank check companies have amended the definition of business combination, increased redemption thresholds and extended
the period of time in which it had to consummate a business combination. We cannot assure you that we will not seek to amend our amended
and restated memorandum and articles of association or governing instruments in a manner that will make it easier for us to complete
our initial business combination that our shareholders may not support or extend the time in which we have to consummate a business combination
through amending our amended and restated memorandum and articles of association, each of which will require a resolution passed by holders
if at least a majority of our ordinary shares who are eligible to vote and attend and vote in a general meeting of our shareholders.</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"><B><I>The provisions of our amended and restated
memorandum and articles of association that relate to our pre-initial business combination activity (and corresponding provisions of
the agreement governing the release of funds from our trust account), including an amendment 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 with the approval of holders of at least a majority of our ordinary shares who attend and vote in a general meeting, 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 memorandum and articles of association and the trust agreement to facilitate the completion of an initial business combination
that some of our shareholders may not support.</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-align: justify; text-indent: 0.25in">Some other blank check companies
have a provision in their charter which prohibits the amendment of certain of its provisions, including those which relate to a company&rsquo;s
pre-initial business combination activity, without approval by a certain percentage of our shareholders. In those companies, amendment
of these provisions requires approval by between 90% and 100% of the company&rsquo;s public shareholders. Our amended and restated memorandum
and articles of association will provide that any of its provisions, including those related to pre-initial business combination activity
(including the requirement to deposit proceeds of this offering and the private placement of units into the trust account and not release
such amounts except in specified circumstances, and to provide redemption rights to public shareholders as described herein and in our
amended and restated memorandum and articles of association or an amendment 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 at least a majority of our ordinary shares who attend and vote in a general meeting, and corresponding provisions
of the trust agreement governing the release of funds from our trust account may be amended if approved by holders of a majority of our
ordinary shares. We may not issue additional securities that can vote on amendments to our amended and restated memorandum and articles
of association. Our insiders, which will collectively beneficially own approximately 20% of our ordinary shares upon the closing of this
offering (assuming it does not purchase any units in this offering and excluding the private placement shares and the Representative&rsquo;s
Shares), will participate in any vote to amend our amended and restated memorandum and articles of association 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 memorandum and articles of association which govern our pre-business combination behavior more easily than some other blank
check companies, and this may increase our ability to complete a business combination with which you do not agree. Our shareholders may
pursue remedies against us for any breach of our amended and restated memorandum and articles of association.</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: 63; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->52<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B><I>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.</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-align: justify; text-indent: 0.25in"> Although we believe that
the net proceeds of this offering and the sale of the private placement units will be sufficient to allow us to complete our initial
business combination, because we have not yet identified any prospective target business we cannot ascertain the capital requirements
for any particular transaction. However, we intend to acquire one or more businesses with a total enterprise value of between $100,000,000
and $600,000,000 which represents enterprise values that are greater than the net proceeds of this offering and the sale of the private
placement units. If the net proceeds of this offering and the sale of the private placement units prove to be insufficient, either because
of the size of our initial business combination, the depletion of the available net proceeds in search of a target business, the obligation
to redeem for cash a significant number of shares from shareholders who elect redemption in connection with our initial business combination
or the terms of negotiated transactions to purchase shares in connection with our initial business combination, we may be required to
seek additional financing or to abandon the proposed 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. 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 shareholders 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 shareholders may only receive approximately $10.00 per share on the liquidation
of our trust account, and our rights will expire worthless. In certain circumstances, our public shareholders may receive less than $10.00
per share on the redemption of their shares. See &ldquo;<B><I>Risk Factors &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 shareholders may be less than $10.00 per share</I></B>&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; text-align: justify"><B><I>Our sponsor will control the election of
our Board of Directors until consummation of our initial business combination and will hold a substantial interest in us. As a result,
it will elect all of our directors and may exert a substantial influence on actions requiring shareholder vote, potentially in a manner
that you do not support.</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-align: justify; text-indent: 0.25in">Upon the closing of this
offering, our sponsor will own approximately 20% of our issued and outstanding ordinary shares (assuming it does not purchase any units
in this offering and excluding the private placement shares and the Representative&rsquo;s Shares). In addition, the founder shares,
all of which are held by our sponsor, will entitle our sponsor to elect all of our directors prior to our initial business combination.
Holders of our public shares will have no right to vote on the election of directors during such time. These provisions of our amended
and restated memorandum and articles of association may only be amended by a resolution passed by holders of at least a majority of ordinary
shares of that class that have voted and are entitled to vote thereon. As a result, you will not have any influence over the election
of directors prior 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; text-align: justify; text-indent: 0.25in">Neither our sponsor nor,
to our knowledge, any of our officers or directors, have any current intention to purchase additional securities, other than as disclosed
in this prospectus. Factors that would be considered in making such additional purchases would include consideration of the current trading
price of our Class&nbsp;A ordinary shares. In addition, as a result of its substantial ownership in our company, our sponsor may exert
a substantial influence on other actions requiring a shareholder vote, potentially in a manner that you do not support, including amendments
to our amended and restated memorandum and articles of association and approval of major corporate transactions. If our sponsor purchases
any additional ordinary shares in the aftermarket or in privately negotiated transactions, this would increase its influence over these
actions. Accordingly, our sponsor will exert significant influence over actions requiring a shareholder vote at least until 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"></P>

<!-- Field: Page; Sequence: 64; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->53<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B><I>Because we must furnish our shareholders
with target business financial statements, we may lose the ability to complete an otherwise advantageous initial business combination
with some prospective target businesses.</I></B></P>

<P STYLE="font: 10pt 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; text-indent: 0.25in">The federal proxy rules&nbsp;require
that a proxy statement with respect to a vote on a business combination meeting certain financial significance tests include historical
and/or pro forma financial statement disclosure in periodic reports. 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
U.S. GAAP, or international financing 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 (U.S.), 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 statements in time for us to disclose such statements in accordance
with federal proxy rules&nbsp;and complete our initial business combination within the prescribed time frame.</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"><B><I>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 acquisition.</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-align: justify; text-indent: 0.25in">Section&nbsp;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&nbsp;10-K
for the year ending December&nbsp;31, 2024. Only in the event we are deemed to be a large accelerated filer or an accelerated filer 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 acquisition.</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>Our directors and officers currently live outside the United
States and, after a business combination, it is possible that a majority of our directors and officers and all of our assets will be
located outside the United States; therefore, investors may not be able to enforce federal securities laws or their other legal rights.</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-align: justify; text-indent: 0.25in">Our directors and officers
currently reside outside of the United States and, after a business combination, it is possible that a majority of our directors and
officers and all of our assets will be located outside of the United States. As a result, it may be difficult, or in some cases not possible,
for investors in the United States to enforce their legal rights, to effect service of process upon all of our directors or officers
or to enforce judgments of United States courts predicated upon civil liabilities and criminal penalties on our directors and officers
under United States 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; text-align: justify; text-indent: 0.25in">In particular, investors
should be aware that there is uncertainty as to whether the courts of the British Virgin Islands or any other applicable jurisdiction
would recognize and enforce judgements of U.S. courts obtained against us or our directors or officers predicted upon the civil liability
provisions of the securities laws of the United States or any state in the United States or entertain original actions brought in the
British Virgin Islands or any other applicable jurisdiction&rsquo;s courts against us or our directors or officers predicated upon the
securities laws of the United States or any state.</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: 65; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->54<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B><I>If we effect a business combination with
a company located outside of the United States, the laws applicable to such company will likely govern all of our material agreements
and we may not be able to enforce our legal rights.</I></B></P>

<P STYLE="font: 10pt 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; text-indent: 0.25in">If we effect a business
combination with a company located outside of the United States, the laws of the country in which such company operates will govern almost
all of the material agreements relating to its operations. We cannot assure you that we or the target business will be able to enforce
any of its material agreements or that remedies will be available in this new jurisdiction. The system of laws and the enforcement of
existing laws in such jurisdiction may not be as certain in implementation and interpretation as in the United States The inability to
enforce or obtain a remedy under any of our future agreements could result in a significant loss of business, business opportunities
or capital. Additionally, if we acquire a company located outside of the United States, it is likely that substantially all of our assets
would be located outside of the United States and some of our officers and directors might reside outside of the United States As a result,
it may not be possible for investors in the United States to enforce their legal rights, to effect service of process upon our directors
or officers or to enforce judgments of United States courts predicated upon civil liabilities and criminal penalties of our directors
and officers under Federal securities laws.</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"><B><I>If relations between the United States
and foreign governments deteriorate, it could cause potential target businesses or their goods and services to become less attractive.</I></B></P>

<P STYLE="font: 10pt 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; text-indent: 0.25in">The relationship between
the United States and foreign governments could be subject to sudden fluctuation and periodic tension. For instance, the United States
may announce its intention to impose quotas on certain imports. Such import quotas may adversely affect political relations between the
two countries and result in retaliatory countermeasures by the foreign government in industries that may affect our ultimate target business.</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; text-indent: 0.25in">Changes in political conditions
in foreign countries and changes in the state of U.S. relations with such countries are difficult to predict and could adversely affect
our operations or cause potential target businesses or their goods and services to become less attractive. Because we are not limited
to any specific industry, there is no basis for investors in this offering to evaluate the possible extent of any impact on our ultimate
operations if relations are strained between the United States and a foreign country in which we acquire a target business or move our
principal manufacturing or service operations</P>

<P STYLE="font: 10pt 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"><B><I>The ability of our public shareholders
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 shares.</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-align: justify; text-indent: 0.25in">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 shares in the open market; however, at such
time our shares 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 shares 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; text-align: justify"><B><I>Currency policies may harm a target business&rsquo;
ability to succeed in the international markets.</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-align: justify; text-indent: 0.25in">In the event we acquire
a non-U.S. target, all revenues and income would likely be received in a foreign currency, the dollar equivalent of our net assets and
distributions, if any, could be adversely affected by reductions in the value of the local currency. The value of the currencies in our
target regions fluctuate and are affected by, among other things, changes in political and economic conditions.</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; text-indent: 0.25in">Any change in the relative
value of such currency against our reporting currency may affect the attractiveness of any target business or, following consummation
of our initial business combination, our financial condition and results of operations.</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; text-indent: 0.25in">If a currency appreciates
in value against the dollar prior to the consummation of our initial business combination, the cost of a target business as measured
in dollars will increase, which may make it less likely that we can consummate such transaction.</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: 66; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->55<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B><I>Certain economies in Asia are experiencing
substantial inflationary pressures which may prompt governments to take action to control the growth of the economy and inflation that
could lead to a significant decrease in our profitability following our initial business combination.</I></B></P>

<P STYLE="font: 10pt 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; text-indent: 0.25in">While many of the economies
in Asia have experienced rapid growth over the last two decades, certain economies are experiencing inflationary pressures. As governments
take steps to address the current inflationary pressures, there may be significant changes in the availability of bank credits, interest
rates, limitations on loans, restrictions on currency conversions and foreign investment. There also may be imposition of price controls.</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; text-indent: 0.25in">If prices for the products
of our ultimate target business rise at a rate that is insufficient to compensate for the rise in the costs of supplies, it may have
an adverse effect on our profitability. If these or other similar restrictions are imposed by a government to influence the economy,
it may lead to a slowing of economic growth. Because we are not limited to any specific industry, the ultimate industry that we operate
in may be affected more severely by such a slowing of economic growth.</P>

<P STYLE="font: 10pt 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"><B><I>Many industries in Asia are subject to
government regulations that limit or prohibit foreign investments in those industries, which may limit the potential number of acquisition
candidates.</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-align: justify; text-indent: 0.25in">Governments in many Asian
countries have imposed regulations that limit foreign investors&rsquo; equity ownership or prohibit foreign investments altogether in
companies that operate in certain industries. As a result, the number of potential acquisition candidates available to us may be limited
or our ability to grow and sustain the business, which we ultimately acquire will be limited.</P>

<P STYLE="font: 10pt 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"><B><I>If a country in Asia enacts regulations
in industry segments that forbid or restrict foreign investment, our ability to consummate our initial business combination could be
severely impaired.</I></B></P>

<P STYLE="font: 10pt 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; text-indent: 0.25in">Many of the rules&nbsp;and
regulations that companies face concerning foreign ownership are not explicitly communicated. If new laws or regulations forbid or limit
foreign investment in industries in which we want to complete our initial business combination, they could severely impair our candidate
pool of potential target businesses. In addition, if the relevant central and local authorities find us or the target business with which
we ultimately complete our initial business combination to be in violation of any existing or future laws or regulations, they would
have broad discretion in dealing with such a violation, including, without limitation:</P>

<P STYLE="font: 10pt 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; text-indent: 0.25in">&#9679;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;levying
fines;</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; text-indent: 0.25in">&#9679;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;revoking
our business and other licenses;</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; text-indent: 0.25in">&#9679;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;requiring
that we restructure our ownership or operations; and</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; text-indent: 0.25in">&#9679;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;requiring
that we discontinue any portion or all of our 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; text-align: justify; text-indent: 0.25in">Any of the above could have
an adverse effect on our company post-business combination and could materially reduce the value of your investment.</P>

<P STYLE="font: 10pt 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"><B><I>Corporate governance standards in Asia
may not be as strict or developed as in the United States and such weakness may hide issues and operational practices that are detrimental
to a target business.</I></B></P>

<P STYLE="font: 10pt 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; text-indent: 0.25in">General corporate governance
standards in some countries are weak in that they do not prevent business practices that cause unfavorable related party transactions,
over-leveraging, improper accounting, family company interconnectivity and poor management. Local laws often do not go far enough to
prevent improper business practices.</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; text-indent: 0.25in">Therefore, shareholders
may not be treated impartially and equally as a result of poor management practices, asset shifting, conglomerate structures that result
in preferential treatment to some parts of the overall company, and cronyism. The lack of transparency and ambiguity in the regulatory
process also may result in inadequate credit evaluation and weakness that may precipitate or encourage financial crisis.</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; text-indent: 0.25in">In our evaluation of a business
combination we will have to evaluate the corporate governance of a target and the business environment, and in accordance with United
States laws for reporting companies take steps to implement practices that will cause compliance with all applicable rules&nbsp;and accounting
practices. Notwithstanding these intended efforts, there may be endemic practices and local laws that could add risk to an investment
we ultimately make and that result in an adverse effect on our operations and financial results.</P>

<P STYLE="font: 10pt 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: 67; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->56<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"> <B><I>If we are unable to consummate our initial
business combination within 12 months of the closing of this offering (or up to 18 months from the closing of this offering if we extend
the period of time to consummate a business combination by the full amount of time without shareholder approval), our public shareholders
may be forced to wait beyond such 12 months (or up to 18 months from the closing of this offering if we extend the period of time to
consummate a business combination by the full amount of time) before redemption from our trust account.</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-align: justify; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
we are unable to consummate our initial business combination within 12 months from the closing of this offering (or up to 18 months from
the closing of this offering if we extend the period of time to consummate a business combination by the full amount of time without
shareholder approval), we will distribute the aggregate amount then on deposit in the trust account (which interest shall be net of taxes
payable, and less up to $</FONT>200,000 net interest to pay dissolution expenses), pro rata to our public shareholders by way of redemption
and cease all operations except for the purposes of winding up of our affairs, as further described herein. Any redemption of public
shareholders from the trust account shall be effected automatically by function of our amended and restated memorandum and articles of
association prior to any voluntary winding up. If we are required to windup, liquidate the trust account and distribute such amount therein,
pro rata, to our public shareholders, as part of any liquidation process, such winding up, liquidation and distribution must comply with
the applicable provisions of the Companies Act. In that case, investors may be forced to wait beyond the initial 12 months (or up to
18 months from the closing of this offering if we extend the period of time to consummate a business combination by the full amount of
time) before the redemption proceeds of our trust account become available to them and they receive the return of their pro rata portion
of the proceeds from our trust account. We have no obligation to return funds to investors prior to the date of our redemption or liquidation
unless we consummate our initial business combination prior thereto and only then in cases where investors have sought to redeem their
Class&nbsp;A ordinary shares. Only upon our redemption or any liquidation will public shareholders be entitled to distributions if we
are unable to complete 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; text-align: justify"><B><I>We may not hold an annual meeting of shareholders
until after the consummation of our initial business combination. Our public shareholders will not have the right to elect directors
prior to the consummation of our initial business combination.</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-align: justify; text-indent: 0.25in">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. There is no requirement under the Companies Act for us to hold annual or general meetings or
elect directors. Until we hold an annual meeting of shareholders, public shareholders may not be afforded the opportunity to discuss
company affairs with management. In addition, as holders of our Class&nbsp;A ordinary shares, our public shareholders will not have the
right to vote on the election of directors prior to consummation 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; text-align: justify"><B><I>Reimbursement of out-of-pocket expenses
incurred by our insiders, officers, directors or any of their affiliates in connection with certain activities on our behalf, such as
identifying and investigating potential business targets, performing business due diligence on suitable target businesses and business
combinations, could reduce the funds available to us to consummate a business combination.</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-align: justify; text-indent: 0.25in">We may reimburse our insiders,
officers, directors or any of their affiliates for out-of-pocket expenses incurred in connection with certain activities on our behalf,
such as identifying and investigating possible business targets and business combinations. There is no limit on the amount of out-of-pocket
expenses reimbursable by us provided that, to the extent such expenses exceed the available proceeds not deposited in the trust account,
such expenses would not be reimbursed by us unless we consummate an initial business combination. In the event that we reimburse our
insiders, officers, directors or any of their affiliates for out-of-pocket expenses prior to the consummation of a business combination
or are required to indemnify any of our officers or directors as required by law, we would use funds available to us outside of the trust
account for our working capital requirements. Any reduction in the funds available to us could have a material adverse effect on our
ability to locate and investigate prospective target businesses and to structure, negotiate, conduct due diligence in connection with
or consummate our initial business combination.</P>

<P STYLE="font: 10pt 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: 68; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->57<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B><I>If our initial business combination involves
a company organized under the laws of a state of the United States, it is possible a 1% U.S. federal excise tax will be imposed on us
in connection with redemptions of our Class&nbsp;A ordinary shares after or in connection with such initial business combination.</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-align: justify; text-indent: 0.25in">The Inflation Reduction
Act of 2022, which, among other things, imposes a 1% U.S. federal excise tax on certain repurchases (including redemptions) of stock
by publicly traded U.S. corporations after December 31, 2022 (the &ldquo;Excise Tax&rdquo;), subject to certain exceptions. If applicable,
the amount of the Excise Tax is generally 1% of the aggregate fair market value of any stock repurchased by the corporation during a
taxable year, net of the aggregate fair market value of certain new stock issuances by the repurchasing corporation during the same taxable
year. The Biden administration has proposed increasing the Excise Tax rate from 1% to 4%; however, it is unclear whether such a change
will be enacted and, if enacted, how soon it could take effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">As a British Virgin Islands
company, the Excise Tax is currently not expected to apply to redemptions of our ordinary shares (absent any regulations or other additional
guidance that may be issued in the future).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">However, in connection with
an initial business combination involving a company organized under the laws of a state of the United States, it is possible that we
domesticate and continue as a corporation organized under the laws of a state of the United States prior to certain redemptions. Because
we expect that, following such a domestication, our securities would continue to trade on a national securities exchange, in such a case,
we could be subject to the Excise Tax with respect to any subsequent redemptions (including redemptions in connection with an extension
vote or the initial business combination). Whether and to what extent we would be subject to the Excise Tax in connection with a business
combination, extension vote or otherwise would depend on a number of factors, including (i) the fair market value of the redemptions
and repurchases in connection with the business combination, extension vote or otherwise, (ii) the structure of a business combination,
(iii) the nature and amount of any &ldquo;PIPE&rdquo; or other equity issuances in connection with a business combination (or otherwise
issued not in connection with a business combination but issued within the same taxable year of a business combination) and (iv) the
content of final regulations and other guidance from the Treasury. On June 28, 2024, the Treasury finalized certain of the proposed regulations
(those relating to procedures for reporting and paying the excise tax). The remaining regulations (largely relating to the computation
of the excise tax) remain in proposed form. The Treasury intends to finalize these proposed regulations at a later date and, until such
time, taxpayers may continue to rely on the proposed regulations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Any Excise Tax that becomes
payable as a result of any redemptions of our ordinary shares (or other shares into which such ordinary shares may be converted) would
be payable by us and not by the redeeming holder. To the extent such taxes are applicable, the amount of cash available to pay redemptions
or to transfer to the target business in connection with our initial business combination may be reduced, which could result in our inability
to meet conditions in the agreement relating to our initial business combination related to a minimum cash requirement, if any, or otherwise
result in the shareholders of the combined company (including any of our shareholders who do not exercise their redemption rights in
connection with the initial business combination) to economically bear the impact of such Excise Tax. Consequently, the Excise Tax may
make a transaction with us less appealing to potential business combination targets. Finally, subject to certain exceptions, the Excise
Tax should not apply in the event of our complete liquidation.</P>

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

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

<!-- Field: Page; Sequence: 69; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->58<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>Risks Relating to the Post-Business Combination
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"><B>We may face risks related to financial technology businesses.</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-align: justify; text-indent: 0.25in">Business combinations with
financial technology businesses may involve special considerations and risks. If we complete our initial business combination with a
financial technology business, we will be subject to the following risks, any of which could be detrimental to us and the business we
acquire:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If the company
    or business we acquire provides products or services which relate to the facilitation of financial transactions, such as funds or
    securities settlement system, and such product or service fails or is compromised, we may be subject to claims from both the firms
    to whom we provide our products and services and the clients they serve;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If we are unable
    to keep pace with evolving technology and changes in the financial services industry, our revenues and future prospects may decline;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our ability
    to provide financial technology products and services to customers may be reduced or eliminated by regulatory changes;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any business
    or company we acquire could be vulnerable to cyberattack or theft of individual identities or personal data;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Difficulties
    with any products or services we provide could damage our reputation and business;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A failure to
    comply with privacy regulations could adversely affect relations with customers and have a negative impact on business;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We may not
    be able to protect our intellectual property and we may be subject to infringement claims.</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; text-align: justify; text-indent: 0.25in">Any of the foregoing could
have an adverse impact on our operations following a business combination. However, efforts in identifying prospective target businesses
will not be limited to a particular industry or country, although we intend to focus on businesses in the Environmental, Sustainability
and Governance (ESG) and material technology sector, an area where we believe has an optimistic growth trajectory for the coming years.
There is no restriction on the geographic location for our target search, and it is our intent to pursue targets globally. Since our
sponsor and its affiliate(s)&nbsp;as well as certain of our current executive officers and directors are located or have significant
ties to China, we may acquire a target business that is based, from, expanded or has operations in China. In particular, we intend to
focus our search for an initial business combination on private companies that have compelling economics and paths to positive operating
cash flow, recurring revenue, strong market position, and successful management teams that are seeking to expand their operations and
investor base in Asia. Accordingly, if we acquire a target business in another industry, these risks will likely not affect us and we
will 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>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 share price, which could cause you to lose
some or all of your investment.</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-align: justify; text-indent: 0.25in">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
post-combination debt financing.</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: 70; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->59<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">Accordingly, any shareholders
who choose to remain shareholders following the business combination could suffer a reduction in the value of their shares. Such shareholders
are unlikely to have a remedy for such reduction in value.</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"><B><I>Our ability to successfully effect our
initial business combination and to be successful thereafter will be totally dependent upon the efforts of our key personnel, some of
whom may join us following our initial business combination. The loss of key personnel could negatively impact the operations and profitability
of our post-combination business.</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-align: justify; text-indent: 0.25in">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 engage 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.</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"><B><I>Our management may not be able to maintain
control of a target business after our initial business combination. We cannot provide assurance that, upon loss of control of a target
business, new management will possess the skills, qualifications or abilities necessary to profitably operate such business.</I></B></P>

<P STYLE="font: 10pt 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; text-indent: 0.25in">We may structure a business
combination so that the post-transaction company in which our public shareholders 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 shareholders
prior to the business combination may collectively own a minority interest in the post business combination company, depending on valuations
ascribed to the target and us in the business combination transaction. For example, we could pursue a transaction in which we issue a
substantial number of new ordinary shares 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 ordinary shares, our shareholders
immediately prior to such transaction could own less than a majority of our issued and outstanding ordinary shares subsequent to such
transaction. In addition, other minority shareholders may subsequently combine their holdings resulting in a single person or group obtaining
a larger share of the company&rsquo;s stock than we initially acquired. Accordingly, this may make it more likely that our management
will not be able to maintain our control of the target business.</P>

<P STYLE="font: 10pt 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"><B><I>We may reincorporate in another jurisdiction
in connection with our initial business combination and such reincorporation may result in taxes imposed on shareholders.</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-align: justify; text-indent: 0.25in">We may, in connection with
our initial business combination and subject to requisite shareholder approval under the Companies Act, reincorporate in the jurisdiction
in which the target company or business is located. The transaction may require a shareholder to recognize taxable income in the jurisdiction
in which the shareholder is a tax resident or in which its members are resident if it is a tax transparent entity. We do not intend to
make any cash distributions to shareholders to pay such taxes. Shareholders may be subject to withholding taxes or other taxes with respect
to their ownership of us after the reincorporation.</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: 71; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->60<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B><I>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.</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-align: justify; text-indent: 0.25in">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 shareholders who choose to remain shareholders following
the business combination could suffer a reduction in the value of their shares. Such shareholders are unlikely to have a remedy for such
reduction in value.</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; text-indent: 0.25in">The officers and directors
of an acquisition candidate may resign upon completion of our initial business combination. The departure of a business combination target&rsquo;s
key personnel could negatively impact the operations and profitability of our post-combination business. The role of an acquisition candidates&rsquo;
key personnel upon the completion of our initial business combination cannot be ascertained at this time. Although we contemplate that
certain members of an acquisition candidate&rsquo;s management team will remain associated with the acquisition candidate following our
initial business combination, it is possible that members of the management of an acquisition candidate will not wish to remain in place.</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"><B><I>Since our sponsor, officers and directors
will not be eligible to be reimbursed for their out-of-pocket expenses 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.</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-align: justify; text-indent: 0.25in">At the closing of our initial
business combination, 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. There is no cap or ceiling on the reimbursement of out-of-pocket expenses incurred in connection with
activities on our behalf. These financial interests of our sponsor, officers and directors may influence their motivation in identifying
and selecting a target business combination and completing 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: 72; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->61<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>Risks Relating to our Sponsor, Management and
Director Team</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-align: justify"><B><I>We are dependent upon our officers and
directors and their departure could adversely affect our ability to operate.</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-align: justify; text-indent: 0.25in">Our operations are dependent
upon a relatively small group of individuals, our officers and directors. We believe that our success depends on the continued service
of our officers and directors, at least until we have completed our initial business combination. In addition, our officers and directors
are not required to commit any specified amount of time to our affairs and, accordingly, will have conflicts of interest in allocating
management time among various business activities, including identifying potential business combinations and monitoring the related due
diligence. We do not have an employment agreement with, or key-man insurance on the life of, any of our directors or officers. The unexpected
loss of the services of one or more of our directors or 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; text-align: justify"><B><I>Our key personnel may negotiate employment
or consulting agreements with a target business in connection with a particular business combination. These agreements may provide for
them to receive compensation following our initial business combination and as a result, may cause them to have conflicts of interest
in determining whether a particular business combination is the most advantageous.</I></B></P>

<P STYLE="font: 10pt 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; text-indent: 0.25in">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 business combination. Such negotiations would take place simultaneously with the negotiation
of the business combination and could provide for such individuals to receive compensation in the form of cash payments and/or our securities
for services they would render to us after the completion of the business combination. The personal and financial interests of such individuals
may influence their motivation in identifying and selecting a target business, subject to his or her fiduciary duties under British Virgin
Islands law. 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; text-align: justify"><B><I>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.</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-align: justify; text-indent: 0.25in">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 a 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 several other business endeavors
for which he or she 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 also serve as officers and 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 &ldquo;<B><I>Management &mdash; Directors and Officers.</I></B>&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; text-align: justify"><B><I>Our Sponsor and its affiliate(s), and 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 determining to which entity a particular
business opportunity should be presented.</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-align: justify; text-indent: 0.25in">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 its affiliate(s), and our officers and directors are, or may in the future become, affiliated
with entities such as operating companies, investment vehicles, or another special purpose acquisition company) that are engaged in making
and managing investments that may be competitive to 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: 73; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->62<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">Our sponsor and its affiliate(s),
and 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 other entities prior to its presentation to us, subject to his or her fiduciary duties under British
Virgin Islands law.</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; text-indent: 0.25in">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 &ldquo;Management &mdash; Directors and Officers,&rdquo; &ldquo;<B><I>Management &mdash; Conflicts of Interest</I></B>&rdquo;
and &ldquo;<B><I>Certain Relationships and Related Party Transactions</I></B>.&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; text-align: justify"><B><I>Our officers, directors, security holders
and their respective affiliates may have competitive pecuniary interests that conflict with our interests.</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-align: justify; text-indent: 0.25in">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 a business combination with a target business that is affiliated with our sponsor, our directors or officers,
although we do not intend to do so. Nor do we 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; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>We
may not have sufficient funds to satisfy indemnification claims of our directors and executive officers</I></B></FONT>.</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; text-indent: 0.25in">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 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)&nbsp;we have sufficient
funds outside of the trust account or (ii)&nbsp;we consummate an initial business combination. Our obligation to indemnify our officers
and directors may discourage shareholders 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 shareholders. Furthermore, a shareholder&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">&nbsp;</P>

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

<P STYLE="font: 10pt 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; text-indent: 0.25in">Our insiders, officers,
directors and their affiliates may incur out-of-pocket expenses in connection with certain activities on our behalf, such as identifying
and investigating possible business targets and combinations. We have no policy that would prohibit these individuals and their affiliates
from negotiating the reimbursement of such expenses by a target business. As a result, the personal and financial interests of such individuals
may influence their motivation in identifying and selecting a target business.</P>

<P STYLE="font: 10pt 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: 74; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->63<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>Risks Relating to our Securities</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-align: justify"><B><I>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 rights, potentially at a loss.</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-align: justify; text-indent: 0.25in"> Our public shareholders
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 shareholder vote to amend our amended
and restated memorandum and articles of association to (A)&nbsp;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 12 months from the closing of this offering (or up to 18
months from the closing of this offering if we extend the period of time to consummate a business combination by the full amount of time
without shareholder approval) or (B)&nbsp;with respect to any other provision relating to shareholders&rsquo; rights or pre-business
combination activity and (iii)&nbsp;the redemption of all of our public shares if we are unable to complete our initial business combination
within 12 months from the closing of this offering (or up to 18 months from the closing of this offering if we extend the period of time
to consummate a business combination by the full amount of time), subject to applicable law and as further described herein. In no other
circumstances will a public shareholder have any right or interest of any kind in the trust account. Accordingly, to liquidate your investment,
you may be forced to sell your public shares or rights, 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; text-align: justify"><B><I>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.</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-align: justify; text-indent: 0.25in">We have applied to have
our units listed on NASDAQ on or promptly after the date of this prospectus and our Class&nbsp;A ordinary shares and rights listed on
or promptly after their date of separation. 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 shareholders&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 shareholders&rsquo; equity would
generally be required to be at least $4.0 million and we would be required to have a minimum of 300 round lot holders of our securities
(with at least 50% of such round lot holders holding securities with a market value of at least $2,500). 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">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">&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: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">a limited availability
    of market quotations for our securities;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">reduced liquidity
    for our securities;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">a determination
    that our Class&nbsp;A ordinary shares is a &ldquo;penny stock&rdquo; which will require brokers trading in our Class&nbsp;A ordinary
    shares to adhere to more stringent rules&nbsp;and possibly result in a reduced level of trading activity in the secondary trading
    market for our securities;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">a limited amount
    of news and analyst coverage; and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">a decreased
    ability to issue additional securities or obtain additional financing in the future.</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"></P>

<!-- Field: Page; Sequence: 75; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->64<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">The National Securities
Markets Improvement Act of 1996, which is a federal statute, prevents or pre-empts 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&nbsp;A ordinary
shares and rights will be listed on NASDAQ, our units, Class&nbsp;A ordinary shares and rights will be covered securities. Although the
states are pre-empted 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; text-align: justify"><B><I>Our sponsor paid an aggregate of $25,000,
or approximately $0.016 per founder share, and, accordingly, you will experience immediate and substantial dilution upon the purchase
of our Class&nbsp;A ordinary shares.</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-align: justify; text-indent: 0.25in">The difference between the
public offering price per share (allocating all of the unit purchase price to the ordinary shares and none to the rights included in
the units) and the pro forma net tangible book value per Class&nbsp;A ordinary share 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 rights included in the units, you and the
other public shareholders will incur an immediate and substantial dilution of approximately 81.6% (or $6.53 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 $1.47 and
the effective initial offering price of $8.00 per share. This dilution would increase to the extent that the anti-dilution provisions
of the Class&nbsp;B ordinary shares result in the issuance of Class&nbsp;A ordinary shares on a greater than one-to-one basis upon conversion
of the Class&nbsp;B ordinary shares at the time of our initial business combination, or earlier at the option of the holder, on a one-for-one
basis, subject to adjustment pursuant to certain anti-dilution rights, as described herein and in our amended and restated memorandum
and articles of association, and would become exacerbated to the extent that public shareholders seek redemptions from the trust. In
addition, because of the anti-dilution protection in 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&nbsp;A ordinary shares.</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"><B><I>The determination of the offering price
of our units and the size of this offering is more arbitrary than the pricing of securities and size of an offering of an operating company
in a particular industry. You may have less assurance, therefore, that the offering price of our units properly reflects the value of
such units than you would have in a typical offering of an operating company.</I></B></P>

<P STYLE="font: 10pt 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; text-indent: 0.25in">Prior to this offering there
has been no public market for any of our securities. The public offering price of the units and the terms of the rights were negotiated
between us and the underwriters. In determining the size of this offering, management held customary organizational meetings with 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&nbsp;A ordinary shares and rights underlying the units, include:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the history
    and prospects of companies whose principal business is the acquisition of other companies;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">prior offerings
    of those companies;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our prospects
    for acquiring an operating business at attractive values;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">a review of
    debt-to-equity ratios in leveraged transactions;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our capital
    structure;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">an assessment
    of our management and their experience in identifying operating companies;</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"></P>

<!-- Field: Page; Sequence: 76; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->65<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>

<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: 2%">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">general conditions
    of the securities markets at the time of this offering; and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">other factors
    as were deemed relevant.</FONT></TD></TR>
  </TABLE>
<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; text-indent: 0.25in">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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>There is currently no market for our securities
and a market for our securities may not develop, which would adversely affect the liquidity and price of our securities.</I></B></P>

<P STYLE="font: 10pt 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; text-indent: 0.25in">There is currently no market
for our securities. Shareholders 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Provisions in our amended and restated
memorandum and articles of association may inhibit a takeover of us, which could limit the price investors might be willing to pay in
the future for our Class&nbsp;A ordinary shares and could entrench management.</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-align: justify; text-indent: 0.25in">Our amended and restated
memorandum and articles of association will contain provisions that may discourage unsolicited takeover proposals that shareholders may
consider to be in their best interests. These provisions include indefinite or fixed director terms and the ability of the Board of Directors
to designate the terms of and issue new series of preference shares, which may make more difficult the removal of management and may
discourage transactions that otherwise could involve payment of a premium over prevailing market prices for our securities.</P>

<P STYLE="font: 10pt 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"><B><I>The grant of registration rights to our
sponsor and holders of our private placement units 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&nbsp;A ordinary shares.</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-align: justify; text-indent: 0.25in">Pursuant to an agreement
to be entered into concurrently with the issuance and sale of the securities in this offering, our initial shareholder and its permitted
transferees can demand that we register the private placement rights, the Class&nbsp;A ordinary shares issuable upon conversion of the
private placement rights, the Class&nbsp;A ordinary shares issuable upon conversion of the founder shares, the Class&nbsp;A ordinary
shares included in the private placement units, and holders of units that may be issued upon conversion of working capital loans may
demand that we register such Class&nbsp;A ordinary shares, rights or the Class&nbsp;A ordinary shares issuable upon conversion of such
rights. 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&nbsp;A ordinary shares. In addition, the
existence of the registration rights may make our initial business combination more costly or difficult to conclude. This is because
the shareholders 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&nbsp;A ordinary shares that is expected when the ordinary shares owned
by our sponsor, holders of our private placement units or holders of our 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; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>We
may issue our shares to investors in connection with our initial business combination at a price which is less than the prevailing market
price of our shares at that time</I></B></FONT>.</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; text-indent: 0.25in">In connection with our initial
business combination, we may issue shares to investors in private placement transactions (so-called PIPE transactions) at a price of
$10.00 per share, or at a price which approximates the per-share amounts in our trust account at such time, which is generally approximately
$10.00. The purpose of such issuances will be to enable us to provide sufficient liquidity to the post-business combination entity and
to complete the business combination. Such arrangements result in costs particular to the business combination process that would not
generally be incurred in a traditional IPO. Such agreements may be structured in a way intended to ensure a return on investment to the
investor in return for funds facilitating the completion of the business combination. The price of the shares we issue may therefore
be less, and potentially significantly less, than the market price for our shares at such time. If we are not able to secure such financing
and there are significant redemption from our trust account, it is possible that we might not be able to complete 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: 77; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->66<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Changes
in the market for directors and officers liability insurance could make it more difficult and more expensive for us to negotiate and
complete an initial business combination</I></B></FONT>.</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; text-indent: 0.25in">The market for directors
and officers liability insurance for special purpose acquisition companies has changed. Fewer insurance companies are offering quotes
for directors and officers liability coverage, the premiums charged for such policies have generally increased and the terms of such
policies have generally become less favorable. There can be no assurance that these trends will not continue.</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; text-indent: 0.25in">The increased cost and decreased
availability of directors and officers liability insurance could make it more difficult and more expensive for us to negotiate an initial
business combination. In order to obtain directors and officers liability insurance or modify its coverage as a result of becoming a
public company, the post-business combination entity might need to incur greater expense, accept less favorable terms or both. However,
any failure to obtain adequate directors and officers liability insurance could have an adverse impact on the post-business combination&rsquo;s
ability to attract and retain qualified officers and directors.</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; text-indent: 0.25in">In addition, even after
we were to complete an initial business combination, our directors and officers could still be subject to potential liability from claims
arising from conduct alleged to have occurred prior to the initial business combination. As a result, in order to protect our directors
and officers, the post-business combination entity may need to purchase additional insurance with respect to any such claims (&ldquo;run-off
insurance&rdquo;). The need for run-off insurance would be an added expense for the post-business combination entity, and could interfere
with or frustrate our ability to consummate an initial business combination on terms favorable to our investors.</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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>We
may engage one or more of our underwriters or one of their respective affiliates to provide additional services to us after this offering,
which may include acting as M&amp;A advisor in connection with an initial business combination or as placement agent in connection with
a related financing transaction. These financial incentives may cause them to have potential conflicts of interest in rendering any such
additional services to us after this offering, including, for example, in connection with the sourcing and consummation of an initial
business combination</I></B></FONT>.</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; text-indent: 0.25in">We may engage one or more
of our underwriters or one of their respective affiliates to provide additional services to us after this offering, including, for example,
identifying potential targets, providing M&amp;A advisory services, acting as a placement agent in a private offering or arranging debt
financing transactions. We may pay such underwriter or its affiliate fair and reasonable fees or other compensation 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 or their
respective affiliates and no fees or other compensation for such services will be paid to any of the underwriters or their respective
affiliates prior to the date that is 60 days from the date of this prospectus, unless such payment would not be deemed underwriters&rsquo;
compensation in connection with this offering. The underwriters&rsquo; or their respective affiliates&rsquo; financial interests tied
to the consummation of a business combination transaction may give rise to potential conflicts of interest in providing any such additional
services to us, including potential conflicts of interest in connection with the sourcing and consummation of 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; text-align: justify"><B><I>Our rights 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 rights, which could limit the ability of rights
holders to obtain a favorable judicial forum for disputes with our company.</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-align: justify; text-indent: 0.25in">Our rights agreement will
provide that, subject to applicable law, (i)&nbsp;any action, proceeding or claim against us arising out of or relating in any way to
the rights 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)&nbsp;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">&nbsp;</P>

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

<!-- Field: Page; Sequence: 78; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->67<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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; text-align: justify; text-indent: 0.25in">Notwithstanding the foregoing,
these provisions of the rights 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 rights shall be deemed to have notice of and to have consented
to the forum provisions in our rights agreement. If any action, the subject matter of which is within the scope the forum provisions
of the rights 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 (for purposes of this subsection, a &ldquo;foreign action&rdquo;) in the name of any holder of our rights,
such holder shall be deemed to have consented to: (x)&nbsp;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 (for purposes of this subsection,
an &ldquo;enforcement action&rdquo;), and (y)&nbsp;having service of process made upon such rights holder in any such enforcement action
by service upon such rights holder&rsquo;s counsel in the foreign action as agent for such rights holder.</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; text-indent: 0.25in">This choice-of-forum provision
may limit a rights 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 rights 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">&nbsp;</P>

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

<!-- Field: Page; Sequence: 79; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->68<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>Risks Related to Our Securities and This Offering</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-align: justify"><B><I>We may amend the terms of the rights in
a way that may be adverse to holders with the approval by the holders of a majority of the then outstanding rights.</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-align: justify; text-indent: 0.25in">Our rights will be issued
in registered form under a rights agreement between Continental Stock Transfer&nbsp;&amp; Trust Company, as rights agent, and us. The
rights agreement provides that the terms of the rights may be amended without the consent of any holder to cure any ambiguity or correct
any defective provision. The rights agreement requires the approval by the holders of a majority of the then outstanding rights in order
to make any change that adversely affects the interests of the registered holders.</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"><B><I>U.S. federal income tax reform could adversely
affect us and holders of our units.</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-align: justify; text-indent: 0.25in">On December&nbsp;22, 2017,
President Trump signed into law H.R. 1, originally known as the &ldquo;Tax Cuts and Jobs Act,&rdquo; which significantly reformed the
Internal Revenue Code of 1986, as amended. The new legislation, among other things, changes the U.S. federal tax rates, imposes significant
additional limitations on the deductibility of interest, allows the expensing of capital expenditures, and puts into effect the migration
from a &ldquo;worldwide&rdquo; system of taxation to a territorial system. We continue to examine the impact this tax reform legislation
may have on us. The impact of this tax reform, or of any future administrative guidance interpreting provisions thereof, on holders of
our units is uncertain and could be adverse. This prospectus does not discuss any such tax legislation or the manner in which it might
affect holders of our units. We urge prospective investors to consult with their legal and tax advisors with respect to any such legislation
and the potential tax consequences of investing in our units.</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"><B><I>Our rights and founder shares may have
an adverse effect on the market price of our Class&nbsp;A ordinary shares and make it more difficult to effectuate our initial business
combination.</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-align: justify; text-indent: 0.25in">Prior to this offering,
our sponsor purchased 1,581,250 founder shares in a private placement. The founder shares are convertible into Class&nbsp;A ordinary
shares on a one-for-one basis, subject to adjustment as set forth herein and in our amended and restated memorandum and articles of association.
In addition, if our sponsor makes any working capital loans, up to $1,150,000 of such loans may be converted into units, at the price
of $10.00 per unit at the option of the lender. Such units would be identical to the private placement units. To the extent we issue
Class&nbsp;A ordinary shares to effectuate a business transaction, the potential for the issuance of a substantial number of additional
Class&nbsp;A ordinary shares upon conversion of these rights or conversion of these working capital loans into our securities could make
us a less attractive acquisition vehicle to a target business. Any such issuance will increase the number of issued and outstanding Class&nbsp;A
ordinary shares and reduce the value of the Class&nbsp;A ordinary shares issued to complete the business transaction. Therefore, our
rights and founder shares may make it more difficult to effectuate a business combination or increase the cost of acquiring the 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; text-align: justify; text-indent: 0.25in">The private placement units
are identical to the units sold in this offering except that, so long as they are held by our sponsor or its permitted transferees, (i)&nbsp;they
will not be redeemable by us, and (ii)&nbsp;they (including the Class&nbsp;A ordinary shares issuable upon conversion of the private
placement rights) may not, subject to certain limited exceptions, be transferred, assigned or sold by our sponsor until 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; text-align: justify"><B><I>If our management following our initial
business combination is unfamiliar with United States securities laws, they may have to expend time and resources becoming familiar with
such laws, which could lead to various regulatory issues.</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-align: justify; text-indent: 0.25in">Following our initial business
combination any or all of our management could resign from their positions as officers of the Company, and the management of the target
business at the time of the business combination will remain in place. Management of the target business may not be familiar with United
States securities laws. If new management is unfamiliar with United States securities laws, they may have to expend time and resources
becoming familiar with such laws. This could be expensive and time-consuming and could lead to various regulatory issues which may adversely
affect our operations.</P>

<P STYLE="font: 10pt 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: 80; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->69<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B><I>Certain agreements related to this offering
may be amended without shareholder approval.</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-align: justify; text-indent: 0.25in">Certain agreements, including
the underwriting agreement relating to this offering, the investment management trust agreement between us and Continental Stock Transfer&nbsp;&amp;
Trust Company, the letter agreement among us and our sponsor, officers, directors and director nominees, and the registration rights
agreement among us and our sponsor, may be amended without shareholder approval. These agreements contain various provisions that our
public shareholders might deem to be material. For example, the underwriting agreement related to this offering contains a covenant that
the target company that we acquire must have a fair market value equal to at least 80% of the balance in the trust account at the time
of signing the definitive agreement for the transaction with such target business (excluding the taxes payable on the income earned on
the trust account) so long as we obtain and maintain a listing for our securities on NASDAQ. While we do not expect our board to approve
any amendment to any of these agreements prior to our initial business combination, it may be possible that our board, in exercising
its business judgment and subject to its fiduciary duties, chooses to approve one or more amendments to any such agreement in connection
with the consummation of our initial business combination. Any such amendment may have an adverse effect on the value of an investment
in 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"></P>

<!-- Field: Page; Sequence: 81; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->70<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>Risks Associated with Acquiring and Operating
a Business Outside of the U.S.</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-align: justify"><B><I>Because we currently operate outside the
U.S. we are, and if we effect our initial business combination with a company located outside of the U.S. we would be, subject to a variety
of additional risks that may negatively impact our operations.</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-align: justify; text-indent: 0.25in">Because we currently operate
outside the U.S. we are, and if we effect our initial business combination with a company located outside of the U.S. we would be, subject
to any special considerations or risks associated with companies operating in the target business&rsquo; home jurisdiction, including
any of the following:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 95%; padding-right: 5.4pt; padding-left: 4.3pt; text-align: justify; text-indent: -4.3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">rules&nbsp;and
    regulations or currency redemption or corporate withholding taxes on individuals;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: center"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">laws governing
    the manner in which future business combinations may be effected;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: center"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">tariffs and
    trade barriers;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: center"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">regulations
    related to customs and import/export matters;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: center"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">longer payment
    cycles;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: center"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">tax issues,
    such as tax law changes and variations in tax laws as compared to the U.S.;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: center"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">currency fluctuations
    and exchange controls;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: center"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">rates of inflation;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: center"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">challenges
    in collecting accounts receivable;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: center"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">cultural and
    language differences;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: center"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">employment
    regulations;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: center"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">crime, strikes,
    riots, civil disturbances, terrorist attacks and wars; and</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; text-align: justify"><B><I>Because of the costs and difficulties inherent
in managing cross-border business operations after we acquire it, our results of operations may be negatively impacted following a business
combination.</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-align: justify; text-indent: 0.25in">Managing a business, operations,
personnel or assets in another country is challenging and costly. Management of the target business that we may hire (whether based abroad
or in the U.S.) may be inexperienced in cross-border business practices and unaware of significant differences in accounting rules, legal
regimes and labor practices. Even with a seasoned and experienced management team, the costs and difficulties inherent in managing cross-border
business operations, personnel and assets can be significant (and much higher than in a purely domestic business) and may negatively
impact our financial and operational performance.</P>

<P STYLE="font: 10pt 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"><B><I>Many countries, and especially those in
emerging markets, have difficult and unpredictable legal systems and underdeveloped laws and regulations that are unclear and subject
to corruption and inexperience, which may adversely impact our results of operations and financial condition.</I></B></P>

<P STYLE="font: 10pt 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; text-indent: 0.25in">Our ability to seek and
enforce legal protections, including with respect to intellectual property and other property rights, or to defend ourselves with regard
to legal actions taken against us in a given country, may be difficult or impossible, which could adversely impact our operations, assets
or financial condition.</P>

<P STYLE="font: 10pt 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; text-indent: 0.25in">Rules&nbsp;and regulations
in many countries, including some of the emerging markets within the regions we will initially focus, are often ambiguous or open to
differing interpretation by responsible individuals and agencies at the municipal, state, regional and federal levels. The attitudes
and actions of such individuals and agencies are often difficult to predict and inconsistent.</P>

<P STYLE="font: 10pt 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: 82; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->71<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">Delay with respect to the
enforcement of particular rules&nbsp;and regulations, including those relating to customs, tax, environmental and labor, could cause
serious disruption to operations abroad and negatively impact our results.</P>

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

<P STYLE="font: 10pt 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; text-indent: 0.25in">The economic, political
and social conditions, as well as government policies, of the country in which our operations are located could affect our business.
The economies in developing markets we will initially focus on differ from the economies of most developed countries in many respects.
Such economic growth has been uneven, both geographically and among various sectors of the economy and such growth may not be sustained
in the future. If in the future such country&rsquo;s economy experiences a downturn or grows at a slower rate than expected, there may
be less demand for spending in certain industries. A decrease in demand for spending in certain industries could materially and adversely
affect our ability to find an attractive target business with which to consummate our initial business combination and if we effect our
initial business combination, the ability of that target business to become profitable.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Exchange rate fluctuations and currency policies may cause a
target business&rsquo; ability to succeed in the international markets to be diminished.</I></B></P>

<P STYLE="font: 10pt 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; text-indent: 0.25in">In the event we acquire
a non-U.S. target, all revenues and income would likely be received in a foreign currency and the dollar equivalent of our net assets
and distributions, if any, could be adversely affected by reductions in the value of the local currency. The value of the currencies
in our target regions fluctuate and are affected by, among other things, changes in political and economic conditions. Any change in
the relative value of such currency against our reporting currency may affect the attractiveness of any target business or, following
consummation of our initial business combination, our financial condition and results of operations. Additionally, if a currency appreciates
in value against the dollar prior to the consummation of our initial business combination, the cost of a target business as measured
in dollars will increase, which may make it less likely that we are able to consummate such transaction.</P>

<P STYLE="font: 10pt 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; text-indent: 0.25in">Because our business objective
includes the possibility of acquiring one or more operating businesses with primary operations in emerging markets we will focus on,
changes in the exchange rate between the U.S. dollar and the currency of any relevant jurisdiction may affect our ability to achieve
such objective. For instance, the exchange rates between the Turkish lira or the Indian rupee and the U.S. dollar has changed substantially
in the last two decades and may fluctuate substantially in the future. If the U.S. dollar declines in value against the relevant currency,
any business combination will be more expensive and therefore more difficult to complete. Furthermore, we may incur costs in connection
with conversions between U.S. dollars and the relevant currency, which may make it more difficult to consummate a 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; text-align: justify"><B><I>Because foreign law could govern almost
all of our material agreements, we may not be able to enforce our rights within such jurisdiction or elsewhere, which could result in
a significant loss of business, business opportunities or capital.</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-align: justify; text-indent: 0.25in">Foreign law could govern
almost all of our material agreements. We may not be able to enforce any of its material agreements or remedies may be unavailable outside
of such foreign jurisdiction&rsquo;s legal system. The system of laws and the enforcement of existing laws and contracts in such jurisdiction
may not be as certain in implementation and interpretation as in the U.S. Judiciaries in such jurisdiction may also be relatively inexperienced
in enforcing corporate and commercial law, leading to a higher than usual degree of uncertainty as to the outcome of any litigation.
As a result, the inability to enforce or obtain a remedy under any of our future agreements could result in a significant loss of business
and business opportunities.</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: 83; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->72<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B><I>Corporate governance standards in foreign
countries may not be as strict or developed as in the U.S. and such weakness may hide issues and operational practices that are detrimental
to a target business.</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-align: justify; text-indent: 0.25in">General corporate governance
standards in some countries are weak in that they do not prevent business practices that cause unfavorable related party transactions,
over-leveraging, improper accounting, family company interconnectivity and poor management. Local laws often do not go far to prevent
improper business practices. Therefore, shareholders may not be treated impartially and equally as a result of poor management practices,
asset shifting, conglomerate structures that result in preferential treatment to some parts of the overall company, and cronyism. The
lack of transparency and ambiguity in the regulatory process also may result in inadequate credit evaluation and weakness that may precipitate
or encourage financial crisis. In our evaluation of a business combination we will have to evaluate the corporate governance of a target
and the business environment, and in accordance with U.S. laws for reporting companies take steps to implement practices that will cause
compliance with all applicable rules&nbsp;and accounting practices. Notwithstanding these intended efforts, there may be endemic practices
and local laws that could add risk to an investment we ultimately make and that result in an adverse effect on our operations and financial
results.</P>

<P STYLE="font: 10pt 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; text-indent: 0.25in">Companies in foreign countries
may be subject to accounting, auditing, regulatory and financial standards and requirements that differ, in some cases significantly,
from those applicable to public companies in the United States, which may make it more difficult or complex to consummate a business
combination. In particular, the assets and profits appearing on the financial statements of a foreign company may not reflect its financial
position or results of operations in the way they would be reflected had such financial statements been prepared in accordance with U.S.
GAAP and there may be&nbsp;substantially less publicly available information about companies in certain jurisdictions than there is about
comparable U.S. companies. Moreover, foreign companies may not be subject to the same degree of regulation as are U.S. companies with
respect to such matters as insider trading rules, tender offer regulation, shareholder proxy requirements and the timely disclosure of
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; text-align: justify; text-indent: 0.25in">Legal principles relating
to corporate affairs and the validity of corporate procedures, directors&rsquo; fiduciary duties and liabilities and shareholders&rsquo;
rights for foreign corporations may differ from those that may apply in the U.S., which may make the consummation of a business combination
with a foreign company more difficult. We therefore may have more difficulty in achieving our business objective.</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"><B><I>Because a foreign judiciary may determine
the scope and enforcement of almost all of our material agreements under the law of such foreign jurisdiction, we may be unable to enforce
our rights inside and outside of such jurisdiction.</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-align: justify; text-indent: 0.25in">The law of a foreign jurisdiction,
may govern almost all of our material agreements, some of which may be with governmental agencies in such jurisdiction. We cannot assure
you that the target business or businesses will be able to enforce any of their material agreements or that remedies will be available
outside of such jurisdiction. The inability to enforce or obtain a remedy under any of our future agreements may have a material adverse
impact on our future 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; text-align: justify"><B><I>A slowdown in economic growth in the markets
that our business target operates in may adversely affect our business, financial condition, results of operations, the value of its
equity shares and the trading price of our shares following our business combination.</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-align: justify; text-indent: 0.25in">Following the business combination,
our results of operations and financial condition may be dependent on, and may be adversely affected by, conditions in financial markets
in the global economy, and, particularly in the markets where the business operates. The specific economy could be adversely affected
by various factors such as political or regulatory action, including adverse changes in liberalization policies, business corruption,
social disturbances, terrorist attacks and other acts of violence or war, natural calamities, interest rates, inflation, commodity and
energy prices and various other factors which may adversely affect our business, financial condition, results of operations, value of
our equity shares and the trading price of our shares following the 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: 84; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->73<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B><I>Regional hostilities, terrorist attacks,
communal disturbances, civil unrest and other acts of violence or war may result in a loss of investor confidence and a decline in the
value of our equity shares and trading price of our shares.</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-align: justify; text-indent: 0.25in">Terrorist attacks, civil
unrest and other acts of violence or war may negatively affect the markets in which we operate and also adversely affect the worldwide
financial markets. In addition, the countries we will focus on, have from time-to-time experienced instances of civil unrest and hostilities
among or between neighboring countries. Any such hostilities and tensions may result in investor concern about stability in the region,
which may adversely affect the value of our equity shares and the trading price of our shares. Events of this nature in the future, as
well as social and civil unrest, could influence the economy in which our business target operates, and could have an adverse effect
on our business, including the value of equity shares and the trading price of our shares.</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"><B><I>The occurrence of natural disasters may
adversely affect our business, financial condition and results of operations following our business combination.</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-align: justify; text-indent: 0.25in">The occurrence of natural
disasters, including hurricanes, floods, earthquakes, tornadoes, fires and pandemic disease may adversely affect our business, financial
condition or results of operations following our business combination. The potential impact of a natural disaster on our results of operations
and financial position is speculative, and would depend on numerous factors. The extent and severity of these natural disasters determines
their effect on a given economy. Although the long-term effect of diseases such as the H5N1 &ldquo;avian flu,&rdquo; or H1N1, the swine
flu, cannot currently be predicted, previous occurrences of avian flu and swine flu had an adverse effect on the economies of those countries
in which they were most prevalent. An outbreak of a communicable disease in our market could adversely affect our business, financial
condition and results of operations following our business combination. We cannot assure you that natural disasters will not occur in
the future or that our business, financial condition and results of operations will not be adversely affected.</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"><B><I>Any downgrade of credit ratings of the
country in which the company we acquire business may adversely affect our ability to raise debt financing following our business combination.</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-align: justify; text-indent: 0.25in">No assurance can be given
that any rating organization will not downgrade the credit ratings of the sovereign foreign long-term debt&nbsp;of the country in which
our business target operates, which reflect an assessment of the overall financial capacity of the government of such country to pay
its obligations and its ability to meet its financial commitments as they become due. Any downgrade could cause interest rates and borrowing
costs to rise, which may negatively impact both the perception of credit risk associated with our future variable rate debt and our ability
to access the debt markets on favorable terms in the future. This could have an adverse effect on our financial condition following our
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; text-align: justify"><B><I>Returns on investment in foreign companies
may be decreased by withholding and other taxes.</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-align: justify; text-indent: 0.25in">Our investments will incur
tax risk unique to investment in developing economies. Income that might otherwise not be subject to withholding of local income tax
under normal international conventions may be subject to withholding of income tax in a developing economy. Additionally, proof of payment
of withholding taxes may be required as part of the remittance procedure. Any withholding taxes paid by us on income from our investments
in such country may or may not be creditable on our income tax returns. We intend to seek to minimize any withholding tax or local tax
otherwise imposed. However, there is no assurance that the foreign tax authorities will recognize application of such treaties to achieve
a minimization of such tax. We may also elect to create foreign subsidiaries to effect the business combinations to attempt to limit
the potential tax consequences of a 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; text-align: justify"><B><I>As the rights of shareholders under British
Virgin Islands law differ from those under U.S. law, you may have fewer protections as a shareholder.</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-align: justify; text-indent: 0.25in">We are a company incorporated
under the laws of the British Virgin Islands. As a result, it may be difficult for investors to enforce judgments obtained in the United
States courts against our directors or officers.</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; text-indent: 0.25in">Our corporate affairs will
be governed by our amended and restated memorandum and articles of association, the Companies Act, and the common law of the British
Virgin Islands. The rights of shareholders to take legal action against our directors, actions by minority shareholders and the fiduciary
responsibilities of our directors under British Virgin Islands law are governed by the Companies Act and the common law of the British
Virgin Islands. The common law of the British Virgin Islands is derived from the common law of England and whilst the decision of the
English courts are of persuasive authority, they are not binding on a court in the British Virgin Islands. The rights of our shareholders
and the fiduciary responsibilities of our directors under British Virgin Islands law may not be as clearly established as they would
be under statutes or judicial precedents in some jurisdictions in the United States. In particular, the British Virgin Islands has a
less developed body of securities laws as compared to the United States, and some states (such as Delaware) have more fully developed
and judicially interpreted bodies of corporate law. As a result of all of the above, holders of our shares may have more difficulty in
protecting their interests through actions against our management, directors or major shareholders than they would as shareholders of
a U.S. company.</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: 85; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->74<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>Risks Relating to Our Corporate Structure</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-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>We
are not subject to the supervision of the Financial Services Commission of the British Virgin Islands and so our shareholders are not
protected by any regulatory inspections in the British Virgin Islands</I></B></FONT><B>.</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-align: justify; text-indent: 0.25in">We are not an entity subject
to any regulatory supervision in the British Virgin Islands by the Financial Services Commission. As a result, shareholders are not protected
by any regulatory supervision or inspections by any regulatory agency in the British Virgin Islands and the company is not required to
observe any restrictions in respect of its conduct save as disclosed in this prospectus or its memorandum and articles of association.</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"><B><I>British Virgin Islands companies may not
be able to initiate shareholder derivative actions, thereby depriving shareholders of the ability to protect their interests.</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-align: justify; text-indent: 0.25in">While statutory provisions
do exist in British Virgin Islands law for derivative actions to be brought in certain circumstances, shareholders in British Virgin
Islands companies may not have standing to initiate a shareholder derivative action in a federal court of the United States. The circumstances
in which any such action may be brought, and the procedures and defenses that may be available in respect to any such action, may result
in the rights of shareholders of a British Virgin Islands company being more limited than those of shareholders of a company organized
in the United States. Accordingly, shareholders may have fewer alternatives available to them if they believe that corporate wrongdoing
has occurred.</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; text-indent: 0.25in">As a result of all of the
above, public shareholders may have more difficulty in protecting their interests in the face of actions taken by our Board of Directors,
management or controlling shareholders than they would as public shareholders of a U.S. company. For a discussion of certain differences
between the provisions of the Companies Act, remedies available to shareholders and the laws applicable to companies incorporated in
the United States and their shareholders, see &ldquo;<B><I>British Virgin Islands Company Considerations</I></B>.&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; text-align: justify"><B><I>Because we are incorporated under the laws
of the British Virgin Islands, you may face difficulties in protecting your interests, and your ability to protect your rights through
the U.S. Federal courts may be limited.</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-align: justify; text-indent: 0.25in">We are a company incorporated
under the laws of the British Virgin Islands. As a result, it may be difficult for investors to effect service of process within the
United States upon our directors or officers, or enforce judgments obtained in the United States courts against our directors or officers.</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; text-indent: 0.25in">Our corporate affairs and
the rights of shareholders are governed by our amended and restated memorandum and articles of association, the Companies Act and the
common law of the British Virgin Islands. The rights of shareholders to take action against the directors, actions by minority shareholders
and the fiduciary responsibilities of our directors to us under British Virgin Islands law are governed by the Companies Act and the
common law of the British Virgin Islands. The common law of the British Virgin Islands is derived from English common law, and whilst
the decisions of the English courts are of persuasive authority, they are not binding on a court in the British Virgin Islands. The rights
of our shareholders and the fiduciary responsibilities of our directors under British Virgin Islands law may not be as clearly established
as they would be under statutes or judicial precedent in some jurisdictions in the U.S. In particular, the British Virgin Islands has
a less developed body of securities laws as compared to the U.S., and certain states, such as Delaware, may have more fully developed
and judicially interpreted bodies of corporate law. In addition, while statutory provisions do exist in British Virgin Islands law for
derivative actions to be brought in certain circumstances, shareholders in British Virgin Islands companies may not have standing to
initiate a shareholder derivative action in a Federal court of the United States. Accordingly, shareholders may have fewer alternatives
available to them if they believe that corporate wrongdoing has occurred.</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: 86; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->75<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: 0.25in">The courts of the British Virgin Islands are
also unlikely:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; width: 0.2in; padding-bottom: 1.5pt; vertical-align: top"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="padding-left: 6pt; width: 98%; padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">to
    recognize or enforce against us judgments of courts of the United States based on certain civil liability provisions of U.S. securities
    laws where that liability is in respect of penalties, taxes, fines or similar fiscal or revenue obligations of the company; and</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-left: 6pt; padding-bottom: 1.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="vertical-align: top; text-align: center; padding-bottom: 1.5pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="padding-left: 6pt; padding-bottom: 1.5pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">to
    impose liabilities against us, in original actions brought in the British Virgin Islands, based on certain civil liability provisions
    of U.S. securities laws that are penal in nature.</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">There is no statutory recognition in the British Virgin Islands of
judgments obtained in the United States, although the courts of the British Virgin Islands will in certain circumstances recognize such
a foreign judgment and treat it as a cause of action in itself which may be sued upon as a debt at common law so that no retrial of the
issues would be necessary provided that the U.S. judgment:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; width: 0.2in; padding-bottom: 1.5pt; vertical-align: top"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="padding-left: 6pt; width: 98%; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    U.S. court issuing the judgment had jurisdiction in the matter and the company either submitted to such jurisdiction or was resident
    or carrying on business within such jurisdiction and was duly served with process;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; padding-bottom: 1.5pt; vertical-align: top">&nbsp;</TD>
    <TD STYLE="padding-left: 6pt; padding-bottom: 1.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; padding-bottom: 1.5pt; vertical-align: top"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="padding-left: 6pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">is
    final and for a liquidated sum;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="vertical-align: top; text-align: center; width: 0.2in; padding-bottom: 1.5pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="padding-left: 6pt; width: 98%; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    judgment given by the U.S. court was not in respect of penalties, taxes, fines or similar fiscal or revenue obligations of the company;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="vertical-align: top; text-align: center; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-left: 6pt; padding-bottom: 1.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="vertical-align: top; text-align: center; padding-bottom: 1.5pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="padding-left: 6pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">in
    obtaining judgment there was no fraud on the part of the person in whose favor judgment was given or on the part of the court;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="vertical-align: top; text-align: center; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-left: 6pt; padding-bottom: 1.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="vertical-align: top; text-align: center; padding-bottom: 1.5pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="padding-left: 6pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">recognition
    or enforcement of the judgment would not be contrary to public policy in the British Virgin Islands; and</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="vertical-align: top; text-align: center; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="padding-left: 6pt; padding-bottom: 1.5pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="vertical-align: top; text-align: center; padding-bottom: 1.5pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="padding-left: 6pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
    proceedings pursuant to which judgment was obtained were not contrary to natural justice.</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; text-align: justify; text-indent: 0.25in">In appropriate circumstances,
a British Virgin Islands Court may give effect in the British Virgin Islands to other kinds of final foreign judgments such as declaratory
orders, orders for performance of contracts and injunctions.</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; text-indent: 0.25in">As a result of all of the
above, public shareholders may have more difficulty in protecting their interests in the face of actions taken by management, members
of the Board of Directors or controlling shareholders than they would as public shareholders of a U.S. company. For a discussion of certain
differences between the provisions of the Companies Act, remedies available to shareholders and the laws applicable to companies incorporated
in the United States and their shareholders, see &ldquo;<B><I>British Virgin Islands Company Considerations</I></B>.&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: 87; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->76<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>General Risk Factors</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-align: justify"><B><I>We are a company with no operating history
and no revenues, and you have no basis on which to evaluate our ability to achieve our business objective.</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-align: justify; text-indent: 0.25in">We are a company established
under the laws of the British Virgin Islands 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 a 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; text-align: justify"><B><I>Past performance by our management team
and their respective affiliates may not be indicative of future performance of an investment in us.</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-align: justify; text-indent: 0.25in">Information regarding performance
by, or businesses associated with, our management team and their affiliates is presented for informational purposes only. Past performance
by our management team, including their affiliates&rsquo; past performance, 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 locate a suitable candidate for our initial business
combination. You should not rely on the historical record of our management team and their affiliates as indicative of our future performance.
Additionally, in the course of their respective careers, members of our management team have been involved in businesses and deals that
were unsuccessful. None of our officers or directors has had experience operating a blank check company in the past.</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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Cyber
incidents or attacks directed at us could result in information theft, data corruption, operational disruption and/or financial loss</I></B></FONT>.</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; text-indent: 0.25in">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">&nbsp;</P>

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

<P STYLE="font: 10pt 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; text-indent: 0.25in">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&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 nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments
not previously approved. As a result, our shareholders 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 ordinary shares held by non-affiliates exceeds $700 million as of any December&nbsp;31 before that time, in which
case we would no longer be an emerging growth company as of the following June&nbsp;30. 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">&nbsp;</P>

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

<!-- Field: Page; Sequence: 88; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->77<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">Further, Section&nbsp;102(b)(1)&nbsp;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 accountant standards used.</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>We may be a passive foreign investment company, or &ldquo;PFIC,&rdquo;
which could result in adverse U.S. federal income tax consequences to U.S. investors.</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-align: justify; text-indent: 0.25in">If we are a PFIC for any
taxable year (or portion thereof) that is included in the holding period of a U.S. holder (as defined in the section of this prospectus
captioned &ldquo;Income Tax Considerations &mdash; Certain U.S. Federal Income Tax Considerations &mdash; U.S. Holders&rdquo;) of our
Class&nbsp;A ordinary shares or rights, the U.S. holder may be subject to adverse U.S. federal income tax consequences and may be subject
to additional reporting requirements. There can be no assurances with respect to our status as a PFIC for our current taxable year or
any subsequent taxable year. Our actual PFIC status for any taxable year, however, will not be determinable until after the end of such
taxable year. Moreover, if we determine we are a PFIC for any taxable year, we will endeavor to provide to a U.S. holder such information
as the Internal Revenue Service (&ldquo;IRS&rdquo;) may require, including a PFIC annual information statement, in order to enable the
U.S. holder to make and maintain a &ldquo;qualified electing fund&rdquo; election, but there can be no assurance that we will timely
provide such required information, and such election would be possibly unavailable to our rights. We urge U.S. holders to consult their
own tax advisors regarding the possible application of the PFIC rules&nbsp;to holders of our Class&nbsp;A ordinary shares and rights.
For a more detailed explanation of the tax consequences of PFIC classification to U.S. holders, see the section of this prospectus captioned
 &ldquo;Income Tax Considerations &mdash; Certain U.S. Federal Income Tax Considerations &mdash; U.S. Holders &mdash; Passive Foreign
Investment Company Rules.&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>Risks Associated with Acquiring and Operating a Business with its
Primary Operation in China</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-align: justify; text-indent: 0.25in">Our sponsor and its affiliate(s)&nbsp;as
well as certain of our current executive officers and directors are located in or have significant ties to China, and we may seek to
acquire a company that is based in China or a PRC target company, which might require a VIE structure in an initial business combination.
Because of such ties to China, we are subject to the laws, rules&nbsp;and regulations of the PRC. Accordingly, we will be subject to
the following risks associated with acquiring and operating a target business with its primary operation in China. These risks could
result in a material change in the target company&rsquo;s post-combination operations or could significantly limit or completely hinder
our ability to offer or continue to offer securities to investors and cause the value of such securities to significantly decline or
become 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; text-align: justify"><B><I>If the PRC government deems that the contractual
arrangements in relation to the potential PRC target company, and the VIE, do not comply with PRC regulatory restrictions on foreign
investment in the relevant industries, or if these regulations or the interpretation of existing regulations change in the future, we
could be subject to severe penalties or be forced to relinquish our interests in those operations.</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-align: justify; text-indent: 0.25in">We are a company with no
operations of our own. Although we do not have any specific business combination under consideration and we have not (nor has anyone
on our behalf), directly or indirectly, contacted any prospective target business or had any substantive discussions, formal or otherwise,
with respect to such a transaction, our initial business combination target company may include a PRC target company which might require
a VIE structure. The PRC target company, through contractual arrangements, exercises effective control over the operating activities
that most impact the economic performance, bears the risks of, and enjoys the rewards normally associated with ownership of the entity.</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: 89; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->78<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">As a result, through such
contractual arrangements with the VIE and its shareholders, we may become the primary beneficiary of the VIE, and, therefore, may consolidate
the financial results of the VIE in our consolidated financial statements in accordance with U.S. GAAP or IFRS. In that case, following
the consummation of a business combination with a PRC target company, our securities would be securities of an offshore holding company
instead of shares of the VIE in China. For a summary of the VIE contractual arrangements, see &ldquo;<B><I>Proposed Business &mdash;
Initial Business Combination with a Company Based in China.</I></B>&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; text-align: justify; text-indent: 0.25in">We would rely on WFOE&rsquo;s
contractual arrangements with the VIE and its shareholders to operate the business. These contractual arrangements may not be as effective
as direct ownership in respect of our relationship with the VIE. Under the contractual arrangements, as a legal matter, if the VIE or
any of its shareholders executing the VIE Agreements fails to perform its, his or her respective obligations under the contractual arrangements,
we may have to incur substantial costs and resources to enforce such arrangements, and rely on legal remedies available under PRC laws,
including seeking specific performance or injunctive relief, and claiming damages, which we cannot assure you will be effective. For
example, if shareholders of a VIE were to refuse to transfer their equity interests in such VIE to us or our designated persons when
we exercise the purchase option pursuant to the contractual arrangements, we may have to take a legal action to compel them to fulfil
their contractual obligations.</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; text-indent: 0.25in">If (i)&nbsp;the applicable
PRC authorities invalidate the contractual arrangements for violation of PRC laws, rules&nbsp;and regulations, (ii)&nbsp;any VIE or its
shareholders terminate the contractual arrangements, (iii)&nbsp;any VIE or its shareholders fail to perform its/his/her obligations under
the contractual arrangements, or (iv)&nbsp;if these regulations change or are interpreted differently in the future, the PRC target company&rsquo;s
business operations in China would be materially and adversely affected, and the value of your securities would substantially decrease
or even become worthless. Further, if we fail to renew the contractual arrangements upon their expiration, we would not be able to continue
the business operations unless the then current PRC law allows us to directly operate businesses in China.</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; text-indent: 0.25in">In addition, if any VIE
or all or part of its assets would become subject to liens or rights of third-party creditors, we may be unable to continue some or all
of our business activities, which could materially and adversely affect our business, financial condition and results of operations.
If any of the variable interest entities undergoes a voluntary or involuntary liquidation proceeding, its shareholders or unrelated third-party
creditors may claim rights to some or all of these assets, thereby hindering our ability to operate our business, which could materially
and adversely affect our business and our ability to generate 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; text-align: justify; text-indent: 0.25in">All of the contractual arrangements
will be governed by PRC law and provided for the resolution of disputes through arbitration in the PRC. Accordingly, these contracts
will be interpreted in accordance with PRC laws and any disputes will be resolved in accordance with PRC legal procedures. The legal
environment in the PRC is not as developed as in some other jurisdictions, such as the United States. As a result, uncertainties in the
PRC legal system could limit our ability to enforce the contractual arrangements. In the event we are unable to enforce the contractual
arrangements, we may not be able to exercise effective control over our PRC target company&rsquo;s operating entities that most impact
the economic performance, bears the risks of, and enjoys the rewards for the purpose of consolidating the financial results of the VIE
in our consolidated financial statements in accordance with U.S. GAAP or IFRS (as discussed above) and we may be precluded from operating
our business, which would have a material adverse effect on our financial condition and results of 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; text-align: justify; text-indent: 0.25in">Although based on industry
practices, VIE contractual arrangements among WFOE, the VIE and its shareholders governed by PRC laws are valid, binding and enforceable,
and will not result in any violation of PRC laws or regulations currently in effect, however, there are substantial uncertainties regarding
the interpretation and application of current and future PRC laws, regulations and rules. Accordingly, the PRC regulatory authorities
may ultimately take a view that is contrary to the accepted industry practices with respect to VIE contractual arrangements. In addition,
it is uncertain whether any new PRC laws or regulations relating to VIE structures will be adopted or if adopted, what they would provide.
PRC government authorities may deem that foreign ownership is directly or indirectly involved in the VIE&rsquo;s shareholding structure.
If our potential corporate structure and contractual arrangements are deemed by the Ministry of Industry and Information Technology,
or MIIT, or the Ministry of Commerce, or MOFCOM, or other regulators having competent authority to be illegal, either in whole or in
part, we may lose control of the consolidated VIE and have to modify such structure to comply with regulatory requirements. However,
there can be no assurance that we can achieve this without material disruption to the PRC target company&rsquo;s business. Furthermore,
if we consummate a business combination with a PRC target company, and we or the VIE is found to be in violation of any existing or future
PRC laws or regulations, or fail to obtain or maintain any of the required permits or approvals, the relevant PRC regulatory authorities
would have broad discretion to take action in dealing with such violations or failures, including, without limitation:</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: 90; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->79<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 96px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">revoking the business license and/or operating licenses
    of WFOE or the VIE;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 96px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">discontinuing or placing restrictions or onerous conditions
    on our operations through any transactions among WFOE, the VIE and its subsidiaries;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 96px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">imposing fines, confiscating the income from WFOE,
    the VIE or its subsidiaries, or imposing other requirements with which we or the VIE may not be able to comply;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 96px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">placing restrictions on the VIE&rsquo;s right to collect
    revenues;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 96px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">requiring us to restructure
    our ownership structure or operations, including terminating the contractual arrangements with the VIE and deregistering the equity
    pledges of the VIE, which in turn would affect our ability to consolidate, exercises effective control over the operating activities
    that most impact the economic performance, bears the risks of, or enjoys the rewards normally associated with ownership of the entity;
    or</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 96px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">taking other regulatory or enforcement actions against
    us that could be harmful to our business</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; text-align: justify; text-indent: 0.25in">The imposition of any of
these penalties will result in a material and adverse effect on our potential ability to conduct the business. In addition, it is unclear
what impact the PRC government actions will have on us and on our ability to consolidate the financial results of the VIE in our consolidated
financial statements, if the PRC government authorities were to find our potential corporate structure and contractual arrangements to
be in violation of PRC laws and regulations. If the imposition of any of these government actions causes us to lose our right to direct
the activities of the VIE or our right to receive substantially all the economic benefits and residual returns from the VIE and we are
not able to restructure our ownership structure and operations in a timely and satisfactory manner, we will no longer be able to consolidate
the financial results of the VIE in our consolidated financial statements. Either of these results, or any other significant penalties
that might be imposed on us in this event, it will have a material adverse effect on our financial condition, results of operations and
our securities post business combination may decline in value or be 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><I>Cash-Flow Structure of a Company Based in China.</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-align: justify; text-indent: 0.25in">The PRC government also
has significant authority to exert restrictions on foreign exchange and our ability to transfer cash between entities, across borders,
and to U.S. investors that may apply to us or to a post-acquisition company if we acquire a company that is based in China in an initial
business combination. Currently, we are a single entity and do not make any internal cash transfers. However, if our organizational structure
expands, or if we consummate an initial business combination with a company based in China, we may rely on dividends and other distributions
from our future operating company in China to provide us with cash flow and to meet our other obligations. Such payments would be subject
to restrictions on dividends as current regulations in China would permit our PRC operating company to pay dividends to us only out of
its accumulated distributable profits, if any, determined in accordance with Chinese accounting standards and regulations. In addition,
an operating company in China will be required to set aside at least 10% (up to an aggregate amount equal to half of its registered capital)
of its accumulated profits each year. Such cash reserve may not be distributed as cash dividends. Each such entity in China is also required
to further set aside a portion of its after-tax profits to fund the employee welfare fund, although the amount to be set aside, if any,
is determined at the discretion of its board of directors. Although the statutory reserves can be used, among other ways, to increase
the registered capital and eliminate future losses in excess of retained earnings of the respective companies, the reserve funds are
not distributable as cash dividends except in the event of liquidation. In addition, if our operating company in China incurs debt on
its own behalf in the future, the instruments governing the debt may restrict its ability to pay dividends or make other payments to
us.</P>

<P STYLE="font: 10pt 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: 91; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->80<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">In addition, we may be subject
to restrictions on currency exchange as the PRC government may limit or eliminate our ability to utilize cash generated in Renminbi,
or RMB to fund our business activities outside of the PRC or pay dividends in foreign currencies to our shareholders, including holders
of our securities, and may limit our ability to obtain foreign currency through debt or equity financing. Exchange controls that exist
in the PRC may restrict or prevent us from using the proceeds of this offering to acquire a target company in PRC and limit our ability
to utilize our cash flow effectively following our initial business combination. PRC regulation on loans to, and direct investment in,
a PRC subsidiary by offshore holding companies and governmental control in currency conversion may restrict our ability to make loans
to or capital contributions to a PRC subsidiary, which could materially and adversely affect our liquidity and our ability to fund and
expand our 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; text-align: justify; text-indent: 0.25in">These restrictions will
restrict our ability to distribute earnings from our businesses, including subsidiaries, to the parent company and U.S. investors as
well as the ability to settle amounts owed under contractual agreements. In addition, fluctuations in exchange rates could result in
foreign currency exchange losses to us and may reduce the value of, and amount in U.S. Dollars of dividends payable on, our shares in
foreign currency terms.</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; text-indent: 0.25in">To date, we have not pursued
an initial business combination and there have not been any capital contributions or shareholder loans by us to any PRC entities, we
do not yet have any subsidiaries, and we have not received, declared or made any dividends or distributions.</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>Exchange controls that exist in the PRC may restrict or prevent
us from using the proceeds of this offering to acquire a target company in the PRC and limit our ability to utilize our cash flow effectively
following our initial business combination.</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-align: justify; text-indent: 0.25in">China&rsquo;s State Administration
of Foreign Exchange, or SAFE, promulgated the Notice of the State Administration of Foreign Exchange on Reforming the Administration
of Foreign Exchange Settlement of Capital of Foreign-invested Enterprises, or Circular 19, effective on June&nbsp;1, 2015, in replacement
of the Circular on the Relevant Operating Issues Concerning the Improvement of the Administration of the Payment and Settlement of Foreign
Currency Capital of Foreign-Invested Enterprises, or SAFE Circular 142, the Notice from the State Administration of Foreign Exchange
on Relevant Issues Concerning Strengthening the Administration of Foreign Exchange Businesses, or Circular 59, and the Circular on Further
Clarification and Regulation of the Issues Concerning the Administration of Certain Capital Account Foreign Exchange Businesses, or Circular
45. According to Circular 19, the flow and use of the RMB capital converted from foreign currency-denominated registered capital of a
foreign-invested company is regulated such that RMB capital may not be used for the issuance of RMB entrusted loans, the repayment of
inter-enterprise loans or the repayment of banks loans that have been transferred to a third party. Although Circular 19 allows RMB capital
converted from foreign currency-denominated registered capital of a foreign-invested enterprise to be used for equity investments within
the PRC, it also reiterates the principle that RMB converted from the foreign currency-denominated capital of a foreign-invested company
may not be directly or indirectly used for purposes beyond its business scope. Thus, it is unclear whether SAFE will permit such capital
to be used for equity investments in the PRC in actual practice. SAFE promulgated the Notice of the State Administration of Foreign Exchange
on Reforming and Standardizing the Foreign Exchange Settlement Management Policy of Capital Account, or Circular 16, effective on June&nbsp;9,
2016, which reiterates some of the rules&nbsp;set forth in Circular 19, but changes the prohibition against using RMB capital converted
from foreign currency-denominated registered capital of a foreign-invested company to issue RMB entrusted loans to a prohibition against
using such capital to issue loans to non-associated enterprises. Violations of SAFE Circular 19 and Circular 16 could result in administrative
penalties.</P>

<P STYLE="font: 10pt 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; text-indent: 0.25in">As such, Circular 19 and
Circular 16 may significantly limit our ability to transfer the proceeds of this offering to a PRC target company and the use of such
proceeds by the PRC target company.</P>

<P STYLE="font: 10pt 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; text-indent: 0.25in">In addition, following our
initial business combination with a PRC target company, we will be subject to the PRC&rsquo;s rules&nbsp;and regulations on currency
conversion. In the PRC, the SAFE regulates the conversion of the Renminbi into foreign currencies. Currently, foreign invested enterprises
(&ldquo;FIE&rdquo;) are required to apply to the SAFE for &ldquo;Foreign Exchange Registration Certificates for FIEs.&rdquo; Following
our initial business combination, we will likely be an FIE as a result of our ownership structure. With such registration certificates,
which need to be renewed annually, FIEs are allowed to open foreign currency accounts including a &ldquo;basic account&rdquo; and &ldquo;capital
account.&rdquo; Currency conversion within the scope of the &ldquo;basic account,&rdquo; such as remittance of foreign currencies for
payment of dividends, can be effected without requiring the approval of the SAFE. However, conversion of currency in the &ldquo;capital
account,&rdquo; including capital items such as direct investment, loans and securities, still require approval of the SAFE.</P>

<P STYLE="font: 10pt 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: 92; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->81<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in"> We cannot assure you
the PRC regulatory authorities will not impose further restrictions on the convertibility of the Renminbi. Any future restrictions on
currency exchanges may limit our ability to use the proceeds of this offering in an initial business combination with a PRC target company
and the use our cash flow for the distribution of dividends to our shareholders or to fund operations we may have outside of the PRC.
However, the funds held in our trust account are not held in China, they are held in U.S. dollars in the United States with Continental
Stock Transfer &amp; Trust Company and therefore shareholder redemption rights would not be impacted. </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>Changes in the policies, regulations, rules, and the enforcement
of laws of the PRC government may be quick with little advance notice and could have a significant impact upon our ability to operate
in the PRC.</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-align: justify; text-indent: 0.25in">We conduct most of our operations
and our post-combination entity may conduct most of its operations and generate most of its revenue in the PRC. Accordingly, economic,
political and legal developments in the PRC will significantly affect our or our post- combination entity&rsquo;s business, financial
condition, results of operations and prospects. Policies, regulations, rules, and the enforcement of laws of the PRC government can have
significant effects on economic conditions in the PRC and the ability of businesses to operate profitably. Our post-combination entity&rsquo;s
ability to operate profitably in the PRC may be adversely affected by changes in policies by the PRC government, including changes in
laws, regulations or their interpretation, particularly those dealing with the Internet, including censorship and other restriction on
material which can be transmitted over the Internet, security, intellectual property, money laundering, taxation and other laws that
affect our post- combination entity&rsquo;s ability to operate its 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; text-align: justify; text-indent: 0.25in">Any actions by the PRC government
to exert more oversight and control over offerings (including businesses whose primary operations are in Hong Kong) that are conducted
overseas and/or foreign investments in PRC-based issuers could significantly limit or completely hinder our ability to offer or continue
to offer securities to investors and cause the value of our securities to significantly decline or be 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; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>The PRC government may intervene or influence
our operations at any time or may exert more control over offerings conducted overseas and foreign investment in China based issuers,
which could result in a material change in the business operations and/or the value of our securities. Additionally, the governmental
and regulatory interference could significantly limit or completely hinder our ability to offer or continue to offer securities to investors
post business combination and cause the value of such securities to significantly decline or be worthless.</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-align: justify; text-indent: 0.25in">Recent statements by the
PRC government have indicated an intent to exert more oversight and control over offerings that are conducted overseas and/or foreign
investments in China-based issuers. The PRC has recently proposed new rules&nbsp;that would require companies collecting or holding large
amounts of data to undergo a cybersecurity review prior to listing in foreign countries, a move that would significantly tighten oversight
over China based internet giants. Pursuant to Article&nbsp;6 of the Measures for Cybersecurity Review (Draft for Comments), companies
holding data on more than 1 million users must now apply for cybersecurity approval when seeking listings in other nations due to the
risk that such data and personal information could be &ldquo;affected, controlled, and maliciously exploited by foreign governments.&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; text-align: justify; text-indent: 0.25in">Based on our understanding
of currently applicable PRC laws and regulations, our registered public offering in the U.S. is not subject to the review or prior approval
of the CAC or the CSRC. Uncertainties still exist, however, due to the possibility that laws, regulations, or policies in the PRC could
change rapidly in the future. Any future action by the PRC government expanding the categories of industries and companies whose foreign
securities offerings are subject to review by the CSRC or the CAC could significantly limit or completely hinder our ability to offer
or continue to offer securities to investors and could cause the value of such securities to significantly decline or be worthless. In
addition, if we were to attempt to complete a business combination with a company that was subject to CAC or CSRC regulations, the CAC
or CSRC could not provide approval for the transaction and prevent us from completing a business combination, which would result in our
expending significant costs without being able to complete a 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: 93; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->82<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B><I>The contractual arrangements under a VIE
structure may not be as effective as direct ownership in respect of our relationship with the VIE, and thus, we may incur substantial
costs to enforce the terms of the arrangements, which we may not be able to enforce at all.</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-align: justify; text-indent: 0.25in">The contractual arrangements
may not be as effective as direct ownership in respect of our relationship with the VIE. For example, the VIE and its shareholders could
breach their contractual arrangements with us by, among other things, failing to conduct their operations in an acceptable manner or
taking other actions that are detrimental to our interests. If we had direct ownership of the VIE, we would be able to exercise our rights
as a shareholder to effect changes in the board of directors of the VIE, which in turn could implement changes, subject to any applicable
fiduciary obligations, at the management and operational level. However, under the VIE Agreements, we rely on the performance by the
VIE and its shareholders of their obligations under the contracts to exercise control over the VIE. The shareholders of the consolidated
VIE may not act in the best interests of our company or may not perform their obligations under these contracts. Such risks exist throughout
the period in which we intend to operate certain portions of our business through the contractual arrangements with the VIE.</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; text-indent: 0.25in">If the VIE or its shareholders
fail to perform their respective obligations under the contractual arrangements, we may have to incur substantial costs and expend additional
resources to enforce such arrangements. For example, if the shareholders of the VIE refuse to transfer their equity interest in the VIE
to us or our designee if we exercise the purchase option pursuant to the contractual arrangements, or if they otherwise act in bad faith
toward us, then we may have to take legal actions to compel them to perform their contractual obligations. In addition, if any third
parties claim any interest in such shareholders&rsquo; equity interests in the VIE, our ability to exercise shareholders&rsquo; rights
or foreclose the share pledge according to the contractual arrangements may be impaired. If these or other disputes between the shareholders
of the VIE and third parties were to impair our relationship with the VIE, our ability to consolidate the financial results of the VIE
would be affected, which would in turn result in a material adverse effect on the business, operations and financial condition.</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Any failure by the VIE or its shareholders
to perform their obligations under our contractual arrangements with them would have a material adverse effect on our business.</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-align: justify; text-indent: 0.25in">The shareholders of the
VIE are referred as its nominee shareholders because although they remain the holders of equity interests on record in the VIE, pursuant
to the terms of the relevant power of attorney, such shareholders have irrevocably authorized the individual appointed by the WFOE to
exercise their rights as a shareholder of the relevant VIE. If the VIE, or its shareholders fail to perform their respective obligations
under the contractual arrangements, we may have to incur substantial costs and expend additional resources to enforce such arrangements.
We may also have to rely on legal remedies under PRC laws, including seeking specific performance or injunctive relief, and claiming
damages, which we cannot assure you will be effective under PRC laws. For example, if the shareholders of the VIE were to refuse to transfer
their equity interest in the VIE to us or our designee if we exercise the purchase option pursuant to these contractual arrangements,
or if they were otherwise to act in bad faith toward us, then we may have to take legal actions to compel them to perform their contractual
obligations.</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; text-indent: 0.25in"> All of the contractual
arrangements will be governed by PRC law and provided for the resolution of disputes through arbitration in the PRC. Accordingly, these
contracts will be interpreted in accordance with PRC laws and any disputes will be resolved in accordance with PRC legal procedures.
The legal system in the PRC is not as developed as in some other jurisdictions, such as the United States. As a result, uncertainties
in the PRC legal system could limit our ability to enforce these contractual arrangements. See &ldquo;<B><I>Risk Factors &mdash; Uncertainties
with respect to the PRC legal system could adversely affect us.</I></B>&rdquo; Meanwhile, there are very few precedents and little formal
guidance as to how contractual arrangements in the context of a consolidated VIE should be interpreted or enforced under PRC laws. There
remain significant uncertainties regarding the ultimate outcome of such arbitration should legal action become necessary. In addition,
under PRC laws, rulings by arbitrators are final and parties cannot appeal arbitration results in court unless such rulings are revoked
or determined unenforceable by a competent court. If the losing parties fail to carry out the arbitration awards within a prescribed
time limit, the prevailing parties may only enforce the arbitration awards in PRC courts through arbitration award recognition proceedings,
which would require additional expenses and delay. In the event that we are unable to enforce these contractual arrangements, or if we
suffer significant delay or other obstacles in the process of enforcing these contractual arrangements, we may not consolidate the financial
results of the VIE in our consolidated financial statements in accordance with U.S. GAAP or IFRS, and our ability to conduct our business
may be negatively affected. </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: 94; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->83<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B><I>In the event we were to successfully consummate
a business combination with a target business with primary operation in PRC, we will be subject to restrictions on dividend payments
following consummation of our initial business combination.</I></B></P>

<P STYLE="font: 10pt 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; text-indent: 0.25in">After we consummate our
initial business combination, we may rely on dividends and other distributions from our operating company to provide us with cash flow
and to meet our other obligations. Current regulations in China would permit our operating company in China to pay dividends to us only
out of its accumulated distributable profits, if any, determined in accordance with Chinese accounting standards and regulations. In
addition, our operating company in China will be required to set aside at least 10% (up to an aggregate amount equal to half of its registered
capital) of its accumulated profits each year. Such cash reserve may not be distributed as cash dividends. In addition, if PRC target
company&rsquo;s operating company in China incurs debt on its own behalf in the future, the instruments governing the debt may restrict
its ability to pay dividends or make other payments to us.</P>

<P STYLE="font: 10pt 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"><B><I>Other PRC governmental authorities may
take the view now or in the future that an approval from them is required for an overseas offering by a company affiliated with Chinese
businesses or persons or a business combination with a target business based in and primarily operating in China.</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-align: justify; text-indent: 0.25in">The &ldquo;M&amp;A Rules,
adopted by six PRC regulatory agencies in 2006, and amended in 2009, require an offshore special purpose vehicle formed for the purpose
of an overseas listing of securities in a PRC company to obtain the approval of the CSRC prior to the listing and trading of such special
purpose vehicle&rsquo;s securities on an overseas stock exchange. The scope of the M&amp;A Rules&nbsp;covers two types of transactions:</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; text-indent: 0.25in"> (a)&nbsp;equity deals
where the acquisition by a foreign investor, i.e., the offshore special purpose vehicle, of equity in a &ldquo;PRC domestic company,&rdquo;
and (b)&nbsp;asset deals where the acquisition by an offshore special purpose vehicle of the assets of a &ldquo;PRC domestic company.&rdquo;
Neither equity deals or the asset deals will be involved in our business combination process with a China-based target for the reason
that the offshore special purpose vehicle of such China-based target directly holds shares through the wholly foreign owned enterprise(s)&nbsp;or
WFOE, which are established by means of direct investment rather than by equity deals or asset deals under the M&amp;A Rules. To date,
the CSRC has not issued any definitive rules&nbsp;or interpretations concerning whether offerings such as the indirect listing of a China-based
entity as part of the business combination are subject to the CSRC approval procedures under the M&amp;A Rules. As a result, based on
our management&rsquo;s understanding of the current PRC laws, rules, regulations and the local market practices in effect at the time
of this prospectus, the CSRC&rsquo;s approval under the M&amp;A Rules&nbsp;will not be required in the context of our business combination
with a China-based target. However, substantial uncertainty remains regarding the scope and applicability of the M&amp;A Rules&nbsp;to
offshore special purpose vehicles and the above analysis are subject to any new laws, rules&nbsp;and regulations or detailed implementation
and interpretations in any form relating to the M&amp;A Rules. We cannot assure you that relevant PRC governmental agencies, including
the CSRC, would reach the same conclusion as we do. It is possible that we may need to obtain approvals or permissions from CSRC in order
for us to complete a business combination with a China-based target pursuant to the M&amp;A Rules. If we are required to obtain such
approvals, we cannot assure we will be able to receive them in a timely manner, or 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; text-align: justify; text-indent: 0.25in">Moreover, except for emphasizing
the need to strengthen the administration over illegal securities activities, and the need to strengthen the supervision over overseas
listings by Chinese companies, the Opinions, which was made available to the public on July&nbsp;6, 2021, also provides that the State
Council will revise provisions regarding the overseas issuance and listing of shares by companies limited by shares and will clarify
the duties of domestic regulatory authorities.</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; text-indent: 0.25in">On December&nbsp;24, 2021,
the CSRC released for public comments Provisions of the State Council on the Administration of Overseas Securities Offering and Listing
by Domestic Companies (Draft for Comments) and Administrative Measures for the Filing of Overseas Securities Offering and Listing by
Domestic Companies (Draft for Comments) (the &ldquo;Draft Rules&rdquo;). The Draft Rules, if declared into effect, will implement a new
regulatory framework requiring Chinese businesses to file with CSRC when pursuing overseas listings. The Draft Rules&nbsp;propose a new
filing system for all Chinese companies (including the VIE- structured companies) that are pursuing listings outside mainland China.
An overseas listing is required to be filed with CSRC within three working days (i)&nbsp;following the submission of IPO application
in the case of an IPO (or similar application in the case of a dual listing on another market), or (ii)&nbsp;following the submission
of offering/registration applications (or following the first announcement of the transaction, as applicable) in the case of a SPAC listing
or &ldquo;back-door&rdquo; listing. The requested filing documents include but are not limited to: (1)&nbsp;a filing report and related
undertakings; (2)&nbsp;regulatory opinions, filing or approval documents issued by the relevant authorities (if applicable); (3)&nbsp;security
review opinions issued by the relevant authorities, if applicable; (4)&nbsp;a PRC legal opinion; and (5)&nbsp;a 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"></P>

<!-- Field: Page; Sequence: 95; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->84<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">On December&nbsp;27, 2021,
the NDRC and the MOFCOM promulgated Special Administrative Measures (Negative List) for the Access of Foreign Investment (2021 Version),
effective as of January&nbsp;1, 2022 (the &ldquo;Negative List&rdquo;).Compared to the previous version, there are no specific industries
added to the list but it for the first time declares China&rsquo;s jurisdiction over (and detailed regulatory requirements on) overseas
listings made by Chinese businesses in the so-called &ldquo;Prohibited Industries.&rdquo; According to Article&nbsp;6 of the Negative
List, domestic enterprises engaging in businesses in which foreign investment is prohibited shall obtain approval from the relevant authorities
before offering and listing their shares on an overseas stock exchange. In addition, certain foreign investors shall not be involved
in the operation or management of the relevant enterprise, and shareholding percentage restrictions under relevant domestic securities
investment management regulations shall apply to such foreign investors. The intended scope of such jurisdiction was further clarified
by NDRC officials on a press conference held on January&nbsp;18, 2022.</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; text-indent: 0.25in">In addition, the Opinions
jointly issued by the General Office of the Central Committee of the Communist Party of China and the General Office of the State Council
(the &ldquo;Opinions&rdquo;), which were made available to the public on July&nbsp;6, 2021, call for strengthened regulation over illegal
securities activities and supervision of overseas listings by China-based companies and propose to take effective measures, such as promoting
the development of relevant regulatory systems to deal with the risks and incidents faced by China-based overseas-listed companies. The
Opinions also provide that the State Council will revise provisions regarding the overseas issuance and listing of shares by companies
limited by shares and will clarify the duties of domestic regulatory authorities. As of the date of this prospectus, no official guidance
and related implementation rules&nbsp;have been issued in relation to the recently issued Opinions and the interpretation and implementation
of the Opinions remain unclear at this stage.</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; text-indent: 0.25in; background-color: white">On
February&nbsp;17, 2023, the CSRC promulgated the Trial Measures, which took effect on March&nbsp;31, 2023. The Trial Measures supersede
the prior M&amp;A Rules&nbsp;and clarified and emphasized several aspects, which include but are not limited to: (1)&nbsp;comprehensive
determination of the &ldquo;indirect overseas offering and listing by PRC domestic companies&rdquo; in compliance with the principle
of &ldquo;substance over form&rdquo; and particularly, an issuer will be required to go through the filing procedures under the Trial
Measures if the following criteria are met at the same time: (a)&nbsp;50% or more of the issuer&rsquo;s operating revenue, total profit,
total assets or net assets as documented in its audited consolidated financial statements for the most recent accounting year comes from
PRC domestic companies, and (b)&nbsp;the main parts of the issuer&rsquo;s business activities are conducted in mainland China, or its
main places of business are located in mainland China, or the senior managers in charge of its business operation and management are
mostly Chinese citizens or domiciled in mainland China; (2)&nbsp;exemptions from immediate filing requirements for issuers that (a)&nbsp;have
already been listed or registered but not yet listed in foreign securities markets, including U.S.&nbsp;markets, prior to the effective
date of the Trial Measures, (b)&nbsp;are not required to re-perform&nbsp;the regulatory procedures with the relevant overseas regulatory
authority or the overseas stock exchange, and (c)&nbsp;whose such overseas securities offering or listing shall be completed before September&nbsp;30,
2023, provided however that such issuers shall carry out filing procedures as required if they conduct refinancing or are involved in
other circumstances that require filing with the CSRC; (3)&nbsp;a negative list of types of issuers banned from listing or offering overseas,
such as (a)&nbsp;issuers whose listing or offering overseas has been recognized by the State Council of the PRC as a possible threat
to national security, (b)&nbsp;issuers whose affiliates have been recently convicted of bribery and corruption, (c)&nbsp;issuers under
ongoing criminal investigations, and (d)&nbsp;issuers under major disputes regarding equity ownership; (4)&nbsp;issuers&rsquo; compliance
with web security, data security, and other national security laws and regulations; (5)&nbsp;issuers&rsquo; filing and reporting obligations,
such as the obligation to file with the CSRC after it submits an application for initial public offering to overseas regulators, and
the obligation after offering or listing overseas to report to the CSRC material events including a change of control or voluntary or
forced delisting of the issuer; and (6)&nbsp;the CSRC&rsquo;s authority to fine both issuers and their shareholders between 1 and 10&nbsp;million
RMB for failure to comply with the Trial Measures, including failure to comply with filing obligations or committing fraud and misrepresentation.</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; text-indent: 0.25in; background-color: white">Based
on our understanding of the current PRC laws and regulations, we believe that our company is not required to obtain any prior permission
from any PRC governmental authorities (including the CSRC) for consummating this offering, given that our company is a blank check company
newly incorporated in the British Virgin Islands rather than in China and currently we do not own or control any equity interest in any
PRC company or operate any business in China. Likewise, while our sponsor is controlled by persons residing in the PRC, it is a British
Virgin Islands company and has no operations in the PRC.</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; text-indent: 0.25in; background-color: white">As
of the date of this prospectus, we have not received any inquiry, notice, warning, sanctions or regulatory objection to this offering
from the CSRC or any other PRC governmental authorities. However, there remains some uncertainty and no assurance as to how our interpretations
to the M&amp;A Rules, the Opinions and the Trial Measures will be interpreted or implemented by the relevant PRC governmental authorities,
including the CSRC, or that the CSRC or any other PRC governmental authorities would not promulgate new rules&nbsp;or adopt new interpretation
of existing rules&nbsp;that would require us to obtain CSRC or other PRC governmental approvals for this offering or, in the context
of an overseas offering or if we decide to consummate the business combination with a target business based in and primarily operating
in China.</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: 96; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->85<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in; background-color: white">If
the CSRC or another PRC governmental authority subsequently determines that its approval is needed for this offering, or for our business
combination with a target business based in and primarily operating in China, or approval obtained for the business combination is subsequently
rescinded, we may face adverse actions or sanctions by the CSRC or other PRC governmental authorities. For example, we may be required
to register with the CSRC following the Offering as a result of the Trial Measures. These governmental authorities may delay this offering
or a potential business combination, impose fines and penalties, limit our operations in China, or take other actions that could result
in our inability to consummate an initial business combination with a China-based&nbsp;business, or materially adversely affect our business,
financial condition, results of operations, reputation and prospects, as well as the trading price of our securities or the continued
listing on a U.S. exchange. Any changes in PRC law, regulations, or interpretations may severely affect our operations after this offering.
The use of the term &ldquo;operate&rdquo; and &ldquo;operations&rdquo; includes the process of searching for a target business and conducting
related activities. To that extent, we may not be able to conduct the process of searching of a potential target company in China.</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; text-indent: 0.25in">Our company is a blank check
company incorporated under the laws of the BVI. We currently do not hold any equity interest in any PRC company or operate any business
in China. Therefore, we are not required to obtain any permission from any PRC governmental authorities to operate our business as currently
conducted. If we decide to consummate our initial business combination with a target business based in and primarily operating in China,
the combined company&rsquo;s business operations in China through its subsidiaries, as applicable, are subject to relevant requirements
to obtain applicable licenses from PRC governmental authorities under relevant PRC laws and regulations.</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"><B><I>Given the Chinese government&rsquo;s significant
oversight and discretion over the search for a target company, the CSRC and other PRC government agencies may exert more oversight and
control over offerings that are conducted overseas and foreign investment in China-based issuers. As a result, we face uncertainty about
future actions by the PRC government that could significantly affect our ability to offer or continue to offer securities to investors
and cause the value of our securities to significantly decline or be worthless.</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-align: justify; text-indent: 0.25in">On July&nbsp;6, 2021, the
General Office of the Communist Party of China Central Committee and the General Office of the State Council jointly issued a document
to crack down on illegal activities in the securities market and promote the high-quality development of the capital markets, which,
among other things, requires the relevant governmental authorities to strengthen cross-border oversight of law-enforcement and judicial
cooperation, to enhance supervision over China-based companies listed overseas, and to establish and improve the system of extraterritorial
application of the PRC securities laws. Since this document is relatively new, uncertainties still exist in relation to how soon legislative
or administrative regulation making bodies will respond and what existing or new laws or regulations or detailed implementations and
interpretations will be modified or promulgated, if any, and the potential impact such modified or new laws and regulations will have
on us and our future business combination with a company with major operation in China. In addition, given recent statements by the Chinese
government indicating an intent to exert more oversight and control over offerings that are conducted overseas and/or foreign investment
in China-based issuers, the CSRC and other PRC government agencies may exert more oversight and control over offerings that are conducted
overseas and foreign investment in China-based issuers. Additional compliance procedures may be required in connection with this offering
and our business combination process, and, if required, we cannot predict whether we will be able to obtain such approval. As a result,
we face uncertainty about future actions by the PRC government that could significantly affect our ability to offer or continue to offer
securities to investors and cause the value of our securities to significantly decline or be 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"></P>

<!-- Field: Page; Sequence: 97; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->86<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B><I>Although we do not currently believe that
we are required to obtain approval from Chinese authorities to list on U.S. exchanges; if the Chinese government took an alternative
view, we will not be able to continue listing on U.S. exchange, which would materially affect the interest of the investors.</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-align: justify; text-indent: 0.25in">The PRC government has exercised
and continues to exercise substantial control over virtually every sector of the Chinese economy through regulation and state ownership.
Our ability to operate through a PRC target company and a VIE in China may be harmed by changes in its laws and regulations, including
those relating to taxation, environmental regulations, land use rights, property and other matters. The central or local governments
of these jurisdictions may impose new, stricter regulations or interpretations of existing regulations that would require additional
expenditures and efforts on our part to ensure our compliance with such regulations or interpretations. Accordingly, government actions
in the future, including any decision not to continue to support recent economic reforms and to return to a more centrally planned economy
or regional or local variations in the implementation of economic policies, could have a significant effect on economic conditions in
China or particular regions thereof, and could require us to divest ourselves of any interest we then hold in Chinese properties.</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; text-indent: 0.25in">For example, the Chinese
cybersecurity regulator announced on July&nbsp;2, 2021 that it had begun an investigation of Didi Global Inc. (NYSE: DIDI) and two days
later ordered that the company&rsquo;s app be removed from smartphone app stores. On July&nbsp;24, 2021, the General Office of the Communist
Party of China Central Committee and the General Office of the State Council jointly released the Guidelines for Further Easing the Burden
of Excessive Homework and Off-campus Tutoring for Students at the Stage of Compulsory Education, pursuant to which foreign investment
in such firms via mergers and acquisitions, franchise development, and variable interest entities are banned from this sector.</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; text-indent: 0.25in">As such, the PRC target
company&rsquo;s business segments may be subject to various government and regulatory interference in the provinces in which they operate.
The PRC target company could be subject to regulations by various political and regulatory entities, including various local and municipal
agencies and government sub-divisions, and these regulations may be interpreted and applied inconsistently by different agencies or authorities.
The PRC target company may incur increased costs necessary to comply with existing and newly adopted laws and regulations or penalties
for any failure to comply, and such compliance or any associated inquiries or investigations or any other government actions may:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 96px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">delay or impede our development;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 96px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">result in negative publicity or increase our operating
    costs;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 96px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">require significant management time and attention;
    and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 96px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">subject the post-combination
    entity to remedies, administrative penalties and even criminal liabilities that may harm our business, including fines assessed for
    our current or historical operations, or demands or orders that we modify or even cease our business practices.</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; text-align: justify; text-indent: 0.25in">As we do not have any specific
business combination under consideration and we have not (nor has anyone on our behalf), directly or indirectly, contacted any prospective
target business or had any substantive discussions, formal or otherwise, with respect to such a transaction, our initial business combination
target company may include a PRC target company. Therefore, it is uncertain when and whether we and the post- combination entity will
be required to obtain permission from the PRC government to list on U.S. exchanges, and even when such permission is obtained, whether
it will be denied or rescinded. Further, the promulgation of new laws or regulations, or the new interpretation of existing laws and
regulations, in each case that restrict or otherwise unfavorably may impact the ability or way the we or the post-combination entity
may conduct its business and could require us or it to change certain aspects of its business to ensure compliance, which could limit
our ability to conduct a business combination and which could, for a post-combination entity, decrease demand for its products or services,
reduce revenues, increase costs, require us to obtain more licenses, permits, approvals or certificates, or subject it to additional
liabilities. As such, the post-combination entity&rsquo;s operations could be adversely affected, directly or indirectly, by existing
or future PRC laws and regulations relating to its business or industry, which could result in a material adverse change in the value
of our securities, potentially rendering it worthless. As a result, we face uncertainty about future actions by the PRC government that
could significantly affect our ability to offer or continue to offer securities to investors and cause the value of our securities to
significantly decline or be 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"></P>

<!-- Field: Page; Sequence: 98; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->87<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B><I>Our initial business combination may be
subject to a variety of PRC laws and other obligations regarding cybersecurity and data protection and we may have to spend additional
resources and incur additional time delays to complete any such business combination or be prevented from pursuing certain investment
opportunities.</I></B></P>

<P STYLE="font: 10pt 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; text-indent: 0.25in">Our initial business combination
may be subject to PRC laws relating to the collection, use, sharing, retention, security, and transfer of confidential and private information,
such as personal information and other data. These laws continue to develop, and the PRC government may adopt other rules&nbsp;and restrictions
in the future. Non-compliance could result in penalties or other significant legal liabilities.</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; text-indent: 0.25in">Pursuant to the PRC Cybersecurity
Law, which was promulgated by the Standing Committee of the National People&rsquo;s Congress on November&nbsp;7, 2016 and took effect
on June&nbsp;1, 2017, personal information and important data collected and generated by a critical information infrastructure operator
in the course of its operations in China must be stored in China, and if a critical information infrastructure operator purchases internet
products and services that affects or may affect national security, it should be subject to cybersecurity review by the Cyberspace Administration
of China (&ldquo;CAC&rdquo;). Due to the lack of further interpretations, the exact scope of &ldquo;critical information infrastructure
operator&rdquo; remains unclear.</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; text-indent: 0.25in">Recently, the General Office
of the Central Committee of the Communist Party of China and the General Office of the State Council jointly issued the Opinions on Severe
and Lawful Crackdown on Illegal Securities Activities, which was available to the public on July&nbsp;6, 2021. These opinions emphasized
the need to strengthen the administration over illegal securities activities and the supervision on overseas listings by China-based
companies. These opinions proposed to take effective measures, such as promoting the construction of relevant regulatory systems, to
deal with the risks and incidents facing China-based overseas- listed companies and the demand for cybersecurity and data privacy protection.
Moreover, the State Internet Information Office issued the Measures of Cybersecurity Review (Revised Draft for Comments, not yet effective)
on July&nbsp;10, 2021, which requires operators with personal information of more than 1 million users who want to list abroad to file
a cybersecurity review with the CAC. As these opinions and the draft measurers were recently issued, official guidance and interpretation
of these two remain unclear in several respects at this time.</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; text-indent: 0.25in">If, for example, our potential
initial business combination is with a target business operating in the PRC and if the enacted version of the draft measures mandates
clearance of cybersecurity review and other specific actions to be completed by the target business, we may face uncertainties as to
whether such clearance can be timely obtained, or at all, and incur additional time delays to complete any such acquisition. Cybersecurity
review could also result in negative publicity with respect to our initial business combination and diversion of our managerial and financial
resources. We may also be prevented from pursuing certain investment opportunities if the PRC government considers that the potential
investments will result in a significant national security issue.</P>

<P STYLE="font: 10pt 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"><B><I>If we become directly subject to the recent
scrutiny, criticism and negative publicity involving US-listed Chinese companies, we may have to expend significant resources to investigate
and resolve the matter which could harm our business operations, this offering and our reputation and could result in a loss of your
investment in our ordinary shares, especially if such matter cannot be addressed and resolved favorably.</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-align: justify; text-indent: 0.25in">Recently, U.S. public companies
that have substantially all of their operations in China, have been subjected to intense scrutiny, criticism and negative publicity by
investors, financial commentators and regulatory agencies, such as the SEC. Much of the scrutiny, criticism and negative publicity has
centered around financial and accounting irregularities, a lack of effective internal controls over financial accounting, inadequate
corporate governance policies or a lack of adherence thereto and, in many cases, allegations of fraud. As a result of the scrutiny, criticism
and negative publicity, the publicly traded stock of many U.S. listed Chinese companies has sharply decreased in value and, in some cases,
has become virtually worthless. Many of these companies are now subject to shareholder lawsuits and SEC enforcement actions and are conducting
internal and external investigations into the allegations. It is not clear what effect this sector- wide scrutiny, criticism and negative
publicity will have on our Company if we target a PRC company with respect to the initial business combination. If we become the subject
of any unfavorable allegations, whether such allegations are proven to be true or untrue, we will have to expend significant resources
to investigate such allegations and/or defend our company. This situation may be a major distraction to our management. If such allegations
are not proven to be groundless, we will be severely hampered and your investment in our securities post business combination could be
rendered 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"></P>

<!-- Field: Page; Sequence: 99; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->88<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B><I>We may not be able to complete an initial
business combination with a U.S. target company since such initial business combination may be subject to U.S. foreign investment regulations
and review by a U.S. government entity such as the Committee on Foreign Investment in the United States (CFIUS), or ultimately prohibited.</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-align: justify; text-indent: 0.25in">Certain federally licensed
businesses in the United States, such as broadcasters and airlines, may be subject to rules&nbsp;or regulations that limit foreign ownership.
In addition, CFIUS is an interagency committee authorized to review certain transactions involving foreign investment in the United States
by foreign persons in order to determine the effect of such transactions on the national security of the United States. Because we may
be considered a &ldquo;foreign person&rdquo; under such rules&nbsp;and regulations, any proposed business combination between us and
a U.S. business engaged in a regulated industry or which may affect national security, we could be subject to such foreign ownership
restrictions and/or CFIUS review. The scope of CFIUS was expanded by the Foreign Investment Risk Review Modernization Act of 2018 (&ldquo;FIRRMA&rdquo;)
to include certain non-passive, non-controlling investments in sensitive U.S. businesses and certain acquisitions of real estate even
with no underlying U.S. business. FIRRMA, and subsequent implementing regulations that are now in force, also subject certain categories
of investments to mandatory filings. If our potential initial business combination with a U.S. business falls within the scope of foreign
ownership restrictions, we may be unable to consummate a business combination with such business. In addition, if our potential business
combination falls within CFIUS&rsquo;s jurisdiction, we may be required to make a mandatory filing or determine to submit a voluntary
notice to CFIUS, or to proceed with the initial business combination without notifying CFIUS and risk CFIUS intervention, before or after
closing the initial business combination. CFIUS may decide to block or delay our initial business combination, impose conditions to mitigate
national security concerns with respect to such initial business combination or order us to divest all or a portion of a U.S. business
of the combined company if we had proceeded without first obtaining CFIUS clearance. The foreign ownership limitations, and the potential
impact of CFIUS, may limit the attractiveness of a transaction with us or prevent us from pursuing certain initial business combination
opportunities that we believe would otherwise be beneficial to us and our shareholders. As a result, the pool of potential targets with
which we could complete an initial business combination may be limited and we may be adversely affected in terms of competing with other
SPACs which do not have similar foreign ownership issues.</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; text-indent: 0.25in"> Moreover, the process
of government review, whether by CFIUS or otherwise, could be lengthy. Because we have only a limited time to complete our initial business
combination (12 months, or up to 18 months, if we extend the time to complete a business combination as described in this prospectus
without shareholder approval) our failure to obtain any required approvals within the requisite time period may require us to liquidate.
If we liquidate, our public shareholders may only receive $10.00 per share initially, and our rights will expire worthless. This will
also cause you to lose any potential investment opportunity in a target company and the chance of realizing future gains on your investment
through any price appreciation in the combined company. </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"><B><I>Trading in our securities may be prohibited
under the HFCAA if the PCAOB determines that it cannot inspect or fully investigate our auditor. In that case, Nasdaq would delist our
securities. The delisting of our securities, or the threat of their being delisted, may materially and adversely affect the value of
your investment. Additionally, the inability of the PCAOB to conduct inspections may deprive our investors with the benefits of such
inspections.</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-align: justify; text-indent: 0.25in">The HFCAA was enacted on
December&nbsp;18, 2020. The HFCAA states if the SEC determines that we have filed audit reports issued by a registered public accounting
firm that has not been subject to inspection by the PCAOB for three consecutive years beginning in 2021, the SEC shall prohibit our shares
or other securities from being traded on a national securities exchange or in the over-the-counter trading market in the U.S.</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; text-indent: 0.25in">WWC, our current auditor,
the independent registered public accounting firm that issues the audit report included elsewhere in this prospectus, as an auditor of
companies that are traded publicly in the United States and a firm registered with the PCAOB, is subject to laws in the United States
pursuant to which the PCAOB conducts regular inspections to assess its compliance with the applicable professional standards. Our auditor
is subject to inspection by the PCAOB on a regular basis with the last inspection report dated November&nbsp;2021. However, if it is
later determined that the PCAOB is unable to inspect or investigate completely our auditor because of a position taken by an authority
in a foreign jurisdiction, Nasdaq would delist our securities, including our units, ordinary shares and rights being offered in this
offering, and the SEC shall prohibit them from being traded on a national securities exchange or in the over-the-counter trading market
in the U.S. For example, if we effect our initial business combination with a business located in the PRC and if our new auditor is located
in China, with operations in and who performs audit operations of registrants in China, a jurisdiction where the PCAOB has been unable
to conduct inspections without the approval of the relevant authorities, the work of our new auditor as it relates to those operations
may not be inspected by the PCAOB, which currently is the case. If our securities are delisted and prohibited from being traded on a
national securities exchange or in the over the counter trading market in the U.S. due to the PCAOB not being able to conduct inspections
or full investigations of our auditor, it would substantially impair your ability to sell or purchase our securities when you wish to
do so, and the risk and uncertainty associated with potential delisting and prohibition would have a negative impact on the price of
our securities. Also, such delisting and prohibition could significantly affect our ability to raise capital on acceptable terms, or
at all, which would have a material adverse effect on our business, financial condition and prospects.</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: 100; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->89<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">In May&nbsp;2013, the PCAOB
announced that it had entered into a Memorandum of Understanding on Enforcement Cooperation with the CSRC and the PRC Ministry of Finance,
which establishes a cooperative framework between the parties for the production and exchange of audit documents relevant to investigations
undertaken by the PCAOB in the PRC or by the CSRC or the PRC Ministry of Finance in the United States.</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; text-indent: 0.25in">On March&nbsp;24, 2021,
the SEC adopted interim final rules&nbsp;relating to the implementation of certain disclosure and documentation requirements of the HFCAA.
We will be required to comply with these rules&nbsp;if the SEC identifies us as having a &ldquo;non-inspection&rdquo; year under a process
to be subsequently established by the SEC. On June&nbsp;22, 2021, the U.S. Senate passed a bill of the AHFCAA which, if passed by the
U.S. House of Representatives and signed into law, would reduce the number of consecutive non-inspection years required for triggering
the prohibitions under the HFCAA from three years to two.</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; text-indent: 0.25in">On November&nbsp;5, 2021,
the SEC approved the PCAOB&rsquo;s Rule&nbsp;6100, Board Determinations Under the Holding Foreign Companies Accountable Act. Rule&nbsp;6100
provides a framework for the PCAOB to use when determining, as contemplated under the HFCAA, whether it is unable to inspect or investigate
completely registered public accounting firms located in a foreign jurisdiction because of a position taken by one or more authorities
in that jurisdiction.</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; text-indent: 0.25in">On December&nbsp;2, 2021,
the SEC issued amendments to finalize rules&nbsp;implementing the submission and disclosure requirements in the HFCAA. The rules&nbsp;apply
to registrants that the SEC identifies as having filed an annual report with an audit report issued by a registered public accounting
firm that is located in a foreign jurisdiction and that PCAOB is unable to inspect or investigate completely because of a position taken
by an authority in foreign jurisdictions.</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; text-indent: 0.25in">On August&nbsp;26, 2022,
the PCAOB signed the SOP with the CSRC and the Ministry of Finance of the PRC governing inspections and investigations of audit firms
based in mainland China and Hong Kong. The agreement includes detailed and specific commitments from the CSRC that would allow PCAOB
inspections and investigations meeting U.S. standards, such as (i)&nbsp;independent discretion by the PCAOB to select any issuer audits
for inspection or investigation in accordance with the Sarbanes-Oxley Act; (ii)&nbsp;direct access by the PCAOB to interview or take
testimony from all personnel of the audit firms whose issuer engagements are being inspected or investigated; (iii)&nbsp;unfettered ability
by the PCAOB to transfer information to the SEC in accordance with the Sarbanes-Oxley Act; and (iv)&nbsp;procedures for PCAOB inspectors
to see complete audit work papers without any redactions. Implementation of the aforementioned framework is subject to uncertainties
and will affect the PCAOB&rsquo;s actual ability to inspect and investigate completely audit firms in mainland China and Hong Kong.</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; text-indent: 0.25in">The SEC may propose additional
rules&nbsp;or guidance that could impact us if our auditor is not subject to PCAOB inspection. For example, on August&nbsp;6, 2020, the
President&rsquo;s Working Group on Financial Markets, or the PWG, issued the Report on Protecting United States Investors from Significant
Risks from Chinese Companies to the then President of the United States. This report recommended the SEC implement five recommendations
to address companies from jurisdictions that do not provide the PCAOB with sufficient access to fulfill its statutory mandate. Some of
the concepts of these recommendations were implemented with the enactment of the HFCAA. However, some of the recommendations were more
stringent than the HFCAA. For example, if a company was not subject to PCAOB inspection, the report recommended that the transition period
before a company would be delisted would end on January&nbsp;1, 2022.</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; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->90<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">The SEC has announced that
the SEC staff is preparing a consolidated proposal for the rules&nbsp;regarding the implementation of the HFCAA and to address the recommendations
in the PWG report. It is unclear when the SEC will complete its rulemaking and when such rules&nbsp;will become effective and what, if
any, of the PWG recommendations will be adopted. The SEC has also announced amendments to various annual report forms to accommodate
the certification and disclosure requirements of the HFCAA. There could be additional regulatory or legislative requirements or guidance
that could impact us if our auditor is not subject to PCAOB inspection. The implications of these possible regulations in addition to
the requirements of the HFCAA are uncertain, and such uncertainty could cause the market price of our securities to be materially and
adversely affected. If, for whatever reason, the PCAOB is unable to conduct inspections or full investigations of our auditor, our company
could be delisted or prohibited from being traded over the counter earlier than would be required by the HFCAA. If our securities are
unable to be listed on another securities exchange by then, such delisting and prohibition would substantially impair your ability to
sell or purchase our securities when you wish to do so, and the risk and uncertainty associated with potential delisting and prohibition
would have a negative impact on the price of our securities. Also, such delisting and prohibition could significantly affect our ability
to raise capital on acceptable terms, or at all, which would have a material adverse effect on our business, financial condition and
prospects.</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; text-indent: 0.25in">Inspections of audit firms
that the PCAOB has conducted have identified deficiencies in those firms&rsquo; audit procedures and quality control procedures, which
may be addressed as part of the inspection process to improve future audit quality. If the PCAOB were unable to conduct inspections or
full investigations of our auditor, investors in our securities would be deprived of the benefits of such PCAOB inspections. In addition,
the inability of the PCAOB to conduct inspections or full investigations of auditors would may make it more difficult to evaluate the
effectiveness of our independent registered public accounting firm&rsquo;s audit procedures or quality control procedures as compared
to auditors that are subject to the PCAOB inspections, which could cause investors and potential investors in our stock to lose confidence
in the audit procedures of our auditor and reported financial information and the quality of our financial statements.</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"><B><I>U.S. laws and regulations, including the
HFCAA and the AHFCAA, may restrict or eliminate our ability to complete a business combination with certain companies, particularly those
acquisition candidates with substantial operations in China</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-align: justify; text-indent: 0.25in">The PCAOB is currently unable
to conduct inspections on accounting firms in the PRC without the approval of the respective government authorities. The auditor and
its audit work in the PRC may not be inspected fully by the PCAOB. Inspections of other auditors conducted by the PCAOB outside China
have at times identified deficiencies in those auditors&rsquo; audit procedures and quality control procedures, which may be addressed
as part of the inspection process to improve future audit quality. The lack of PCAOB inspections of audit work undertaken in China prevents
the PCAOB from regularly evaluating the PRC auditor&rsquo;s audits and its quality control procedures. As a result, shareholders may
be deprived of the benefits of PCAOB inspections if we complete a business combination with such companies.</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; text-indent: 0.25in">Future developments in U.S.
laws may restrict our ability or willingness to complete certain business combinations with companies. For instance, the enacted HFCAA
would restrict our ability to consummate a business combination with a target business unless that business met certain standards of
the PCAOB and would require delisting of a company from U.S. national securities exchanges if the PCAOB is unable to inspect its public
accounting firm for three consecutive years. The HFCAA also requires public companies to disclose, among other things, whether they are
owned or controlled by a foreign government, specifically, those based in China. We may not be able to consummate a business combination
with a favored target business due to these laws. Furthermore, on June&nbsp;22, 2021, the U.S. Senate passed the AHFCAA, which, if signed
into law, would amend the HFCAA and require the SEC to prohibit an issuer&rsquo;s securities from trading on any U.S. stock exchanges
if its auditor is not subject to PCAOB inspections for two consecutive years instead of three consecutive years.</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; text-indent: 0.25in">The documentation we may
be required to submit to the SEC proving certain beneficial ownership requirements and establishing that we are not owned or controlled
by a foreign government in the event that we use a foreign public accounting firm not subject to inspection by the PCAOB or where the
PCAOB is unable to completely inspect or investigate our accounting practices or financial statements because of a position taken by
an authority in the foreign jurisdiction could be onerous and time consuming to prepare. The HFCAA mandates the SEC to identify issuers
of SEC-registered securities whose audited financial reports are prepared by an accounting firm that the PCAOB is unable to inspect due
to restrictions imposed by an authority in the foreign jurisdiction where the audits are performed. If such identified issuer&rsquo;s
auditor cannot be inspected by the PCAOB for three consecutive years, the trading of such issuer&rsquo;s securities on any U.S. national
securities exchanges, as well as any over-the-counter trading in the U.S., will be prohibited.</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: 102; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->91<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">On March&nbsp;24, 2021,
the SEC adopted interim final rules&nbsp;relating to the implementation of certain disclosure and documentation requirements of the HFCAA.
An identified issuer will be required to comply with these rules&nbsp;if the SEC identifies it as having a &ldquo;non-inspection&rdquo;
year under a process to be subsequently established by the SEC. On November&nbsp;5, 2021, the SEC approved the PCAOB&rsquo;s Rule&nbsp;6100,
Board Determinations Under the Holding Foreign Companies Accountable Act. Rule&nbsp;6100 provides a framework for the PCAOB to use when
determining, as contemplated under the HFCAA, whether it is unable to inspect or investigate completely registered public accounting
firms located in a foreign jurisdiction because of a position taken by one or more authorities in that jurisdiction. On December&nbsp;2,
2021, the SEC issued amendments to finalize rules&nbsp;implementing the submission and disclosure requirements in the Holding Foreign
Companies Accountable Act. The rules&nbsp;apply to registrants that the SEC identifies as having filed an annual report with an audit
report issued by a registered public accounting firm that is located in a foreign jurisdiction and that PCAOB is unable to inspect or
investigate completely because of a position taken by an authority in foreign jurisdictions.</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; text-indent: 0.25in">On December&nbsp;16, 2021,
the PCAOB issued a Determination Report which found that the PCAOB is unable to inspect or investigate completely registered public accounting
firms headquartered in: (i)&nbsp;China, and (ii)&nbsp;Hong Kong. Our auditor, WWC, headquartered in California, is an independent registered
public accounting firm with the PCAOB and has been inspected by the PCAOB on a regular basis. The PCAOB currently has access to inspect
the working papers of our auditor. WWC was not identified in this report as a firm subject to the PCAOB&rsquo;s determination</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; text-indent: 0.25in">In the event that we complete
a business combination with a company with substantial operations in China and PCAOB is not able to fully conduct inspections of our
auditor&rsquo;s work papers in China, it could cause us to fail to be in compliance with U.S. securities laws and regulations, we could
cease to be listed on a U.S. securities exchange, and U.S. trading of our shares could be prohibited under the HFCAA. Any of these actions,
or uncertainties in the market about the possibility of such actions, could adversely affect our prospects to successfully complete a
business combination with a China-based company, our access to the U.S. capital markets and the price of our shares.</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; text-indent: 0.25in">Future developments in respect
of increase U.S. regulatory access to audit information are uncertain, as the legislative developments are subject to the legislative
process and the regulatory developments are subject to the rule-making process and other administrative procedures.</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; text-indent: 0.25in">Other developments in U.S.
laws and regulatory environment, including but not limited to executive orders such as Executive Order (E.O.) 13959, &ldquo;Addressing
the Threat from Securities Investments That Finance Communist Chinese Military Companies,&rdquo; may further restrict our ability to
complete a business combination with certain China-based 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><I>Compliance with the PRC Antitrust law may limit our ability
to effect our initial business combination.</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-align: justify; text-indent: 0.25in">The PRC Antitrust Law became
effective on August&nbsp;1, 2008. The government authorities in charge of antitrust matters in China are the Antitrust Commission and
other antitrust authorities under the State Council. The PRC Antitrust Law regulates (1)&nbsp;monopoly agreements, including decisions
or actions in concert that preclude or impede competition, entered into by business operators; (2)&nbsp;abuse of dominant market position
by business operators; and (3)&nbsp;concentration of business operators that may have the effect of precluding or impeding competition.
To implement the PRC Antitrust Law, in 2008, the State Council formulated the regulations that require filing of concentration of business
operators, pursuant to which concentration of business operators refers to (1)&nbsp;merger with other business operators; (2)&nbsp;gaining
control over other business operators through acquisition of equity interest or assets of other business operators; and (3)&nbsp;gaining
control over other business operators through exerting influence on other business operators through contracts or other means. In 2009,
the Ministry of Commerce, to which the Antitrust Commission is affiliated, promulgated the Measures for Filing of Concentration of Business
Operators (amended by the Guidelines for Filing of Concentration of Business Operators in 2014), which set forth the criteria of concentration
and the requirement of miscellaneous documents for the purpose of filing. The business combination we contemplate may be considered the
concentration of business operators, and to the extent required by the PRC Antitrust Law and the criteria established by the State Council,
we must file with the antitrust authority under the PRC State Council prior to conducting the contemplated business combination. If the
antitrust authority decides not to further investigate whether the contemplated business combination has the effect of precluding or
impeding competition or fails to make a decision within 30 days from receipt of relevant materials, we may proceed to consummate the
contemplated business combination. If antitrust authority decides to prohibit the contemplated business combination after further investigation,
we must terminate such business combination and would then be forced to either attempt to complete a new business combination if it was
prior to 15 wait months from the closing of this offering or we would be required to return any amounts which were held in the trust
account to our shareholders. When we evaluate a potential business combination, we will consider the need to comply with the PRC Antitrust
Law and other relevant regulations which may limit our ability to effect an acquisition or may result in our modifying or not pursuing
a particular transaction.</P>

<P STYLE="font: 10pt 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: 103; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->92<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B><I>Enhanced scrutiny over acquisition transactions
by the PRC tax authorities may have a negative impact on potential acquisitions we may pursue in the future.</I></B></P>

<P STYLE="font: 10pt 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; text-indent: 0.25in">The PRC tax authorities
have enhanced their scrutiny over the direct or indirect transfer of certain taxable assets, including, in particular, equity interests
in a PRC resident enterprise, by a non-resident enterprise by promulgating and implementing SAT Circular 59 and Circular 698, which became
effective in January&nbsp;2008, and a Circular 7 in replacement of some of the existing rules&nbsp;in Circular 698, which became effective
in February&nbsp;2015.</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; text-indent: 0.25in">Under Circular 698, where
a non-resident enterprise conducts an &ldquo;indirect transfer&rdquo; by transferring the equity interests of a PRC &ldquo;resident enterprise&rdquo;
indirectly by disposing of the equity interests of an overseas holding company, the non-resident enterprise, being the transferor, may
be subject to PRC corporate income tax, if the indirect transfer is considered to be an abusive use of company structure without reasonable
commercial purposes. As a result, gains derived from such indirect transfer may be subject to PRC tax at a rate of up to 10%. Circular
698 also provides that, where a non-PRC resident enterprise transfers its equity interests in a PRC resident enterprise to its related
parties at a price lower than the fair market value, the relevant tax authority has the power to make a reasonable adjustment to the
taxable income of the transaction.</P>

<P STYLE="font: 10pt 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; text-indent: 0.25in">In February&nbsp;2015, the
SAT issued Circular 7 to replace the rules&nbsp;relating to indirect transfers in Circular 698. Circular 7 has introduced a new tax regime
that is significantly different from that under Circular 698. Circular 7 extends its tax jurisdiction to not only indirect transfers
set forth under Circular 698 but also transactions involving transfer of other taxable assets, through the offshore transfer of a foreign
intermediate holding company. In addition, Circular 7 provides clearer criteria than Circular 698 on how to assess reasonable commercial
purposes and has introduced safe harbors for internal group restructurings and the purchase and sale of equity through a public securities
market. Circular 7 also brings challenges to both the foreign transferor and transferee (or other person who is obligated to pay for
the transfer) of the taxable assets. Where a non-resident enterprise conducts an &ldquo;indirect transfer&rdquo; by transferring the
taxable assets indirectly by disposing of the equity interests of an overseas holding company, the non-resident enterprise being the
transferor, or the transferee, or the PRC entity which directly owned the taxable assets may report to the relevant tax authority such
indirect transfer. Using a &ldquo;substance over form&rdquo; principle, the PRC tax authority may disregard the existence of the overseas
holding company if it lacks a reasonable commercial purpose and was established for the purpose of reducing, avoiding or deferring PRC
tax. As a result, gains derived from such indirect transfer may be subject to PRC corporate income tax, and the transferee or other person
who is obligated to pay for the transfer is obligated to withhold the applicable taxes, currently at a rate of 10% for the transfer of
equity interests in a PRC resident enterprise.</P>

<P STYLE="font: 10pt 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; text-indent: 0.25in">We may face uncertainties
on the reporting and consequences on future private equity financing transactions, share exchange or other transactions involving the
transfer of shares in our company by investors that are non-PRC resident enterprises. The PRC tax authorities may pursue such non-resident
enterprises with respect to a filing or the transferees with respect to withholding obligation, and request our PRC subsidiaries to assist
in the filing. As a result, we and non-resident enterprises in such transactions may become at risk of being subject to filing obligations
or being taxed, under Circular 59 or Circular 698 and Circular 7, and may be required to expend valuable resources to comply with Circular
59, Circular 698 and Circular 7 or to establish that we and our non-resident enterprises should not be taxed under these circulars, which
may have a material adverse effect on our financial condition and results of operations.</P>

<P STYLE="font: 10pt 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; text-indent: 0.25in">The PRC tax authorities
have the discretion under SAT Circular 59, Circular 698 and Circular 7 to make adjustments to the taxable capital gains based on the
difference between the fair value of the taxable assets transferred and the cost of investment. Although we currently have no plans to
pursue any acquisitions in China or elsewhere in the world, we may pursue acquisitions in the future that may involve complex corporate
structures. If we are considered a non-resident enterprise under the PRC corporate income tax law and if the PRC tax authorities make
adjustments to the taxable income of the transactions under SAT Circular 59 or Circular 698 and Circular 7, our income tax costs associated
with such potential acquisitions will be increased, which may have an adverse effect on our financial condition and results of operations.</P>

<P STYLE="font: 10pt 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; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->93<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B><I>While we do not believe that the approval
of the CSRC is not required in connection with this offering; if required, we cannot predict whether we will be able to obtain such approval.</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-align: justify; text-indent: 0.25in">The M&amp;A Regulations
adopted by six PRC regulatory agencies requires an overseas special purpose vehicle formed for listing purposes through acquisitions
of PRC domestic companies and controlled by PRC companies or individuals to obtain the approval of the CSRC, prior to the listing and
trading of such special purpose vehicle&rsquo;s securities on an overseas stock exchange.</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; text-indent: 0.25in">We believe the CSRC&rsquo;s
approval is not required for the listing and trading of our securities on Nasdaq in the context of this offering, given that we are a
British Virgin Islands company incorporated as a blank check company for the purpose of entering into a merger, share exchange, asset
acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities.</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; text-indent: 0.25in">However, we cannot assure
you that relevant PRC government agencies, including the CSRC, would reach the same conclusion as we do. If it is determined that CSRC
approval is required for our business combination or future offering, we may face sanctions by the CSRC or other PRC regulatory agencies
for failure to seek CSRC approval for the business combination or future offering. These sanctions may include fines and penalties on
operations in the PRC, limitations on our operating privileges in the PRC, delays in or restrictions on the repatriation of the proceeds
from this offering into the PRC, restrictions on or prohibition of the payments or remittance of dividends by our PRC subsidiary, or
other actions that could have a material and adverse effect on our business, financial condition, results of operations, reputation and
prospects, as well as the trading price of our ordinary shares. Furthermore, the CSRC or other PRC regulatory agencies may also take
actions requiring us, or making it advisable for us, to halt this offering before the settlement and delivery of the ordinary shares
that we are offering. Consequently, if you engage in market trading or other activities in anticipation of and prior to the settlement
and delivery of the ordinary shares we are offering, you would be doing so at the risk that the settlement and delivery may not occur.</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>Uncertainties with respect to the PRC legal system could adversely
affect us.</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-align: justify; text-indent: 0.25in">Our sponsor and its affiliate(s)&nbsp;as
well as certain of our current executive officers and directors are located in or have significant ties to China, and we may seek to
acquire a company that is based in China in an initial business combination. The uncertainties in the interpretation and enforcement
of PRC laws, rules&nbsp;and regulations would apply to us if we were to acquire a company that is based in China regardless of whether
we have a VIE structure or direct ownership structure post-business combination. Because of such ties to China, we may be governed by
PRC laws and regulations. PRC companies and variable interests entities are generally subject to laws and regulations applicable to foreign
investments in China and, in particular, laws and regulations applicable to wholly foreign-owned enterprises. The PRC legal system is
based on statutes. Prior court decisions may be cited for reference but have limited precedential value.</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; text-indent: 0.25in">Since 1979, PRC legislation
and regulations have significantly enhanced the protections afforded to various forms of foreign investments in China. However, China
has not developed a fully integrated legal system and recently enacted laws and regulations may not sufficiently cover all aspects of
economic activities in China. In particular, because these laws and regulations are relatively new, and because of the limited volume
of published decisions and their nonbinding nature, the interpretation and enforcement of these laws and regulations involve uncertainties.
In addition, the PRC legal system is based in part on government policies and internal rules&nbsp;(some of which are not published on
a timely basis or at all) that may have a retroactive effect. As a result, we may not be aware of our violation of these policies and
rules&nbsp;until sometime after the violation. In addition, any litigation in China may be protracted and result in substantial costs
and diversion of resources and management attention.</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: 105; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->94<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B><I>PRC regulation of loans and direct investment
by offshore holding companies to PRC entities may delay or prevent us from using the proceeds of this offering to make loans or additional
capital contributions to our PRC subsidiaries, which could materially and adversely affect our liquidity and our ability to fund and
expand our business.</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-align: justify; text-indent: 0.25in">Any loans to PRC subsidiaries
are subject to PRC regulations. For example, loans by us to subsidiaries in China, which are foreign invested entities (&ldquo;FIEs&rdquo;),
to finance their activities cannot exceed statutory limits and must be registered with SAFE. On March&nbsp;30, 2015, SAFE promulgated
Hui Fa [2015] No.19, a notice regulating the conversion by a foreign-invested company of foreign currency into RMB. The foreign exchange
capital, for which the monetary contribution has been confirmed by the foreign exchange authorities (or for which the monetary contribution
has been registered for account entry) in the capital account of a foreign- invested enterprise may be settled at a bank as required
by the enterprise&rsquo;s actual management needs. Foreign- invested enterprises with investment as their main business (including foreign-oriented
companies, foreign- invested venture capital enterprises and foreign-invested equity investment enterprises) are allowed to, under the
premise of authenticity and compliance of their domestic investment projects, carry out based on their actual investment scales direct
settlement of foreign exchange capital or transfer the RMB funds in the foreign exchange settlement account for pending payment to the
invested enterprises&rsquo; accounts.</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; text-indent: 0.25in">On May&nbsp;10, 2013, SAFE
released Circular 21, which came into effect on May&nbsp;13, 2013. According to Circular 21, SAFE has simplified the foreign exchange
administration procedures with respect to the registration, account openings and conversions, settlements of FDI-related foreign exchange,
as well as fund remittances.</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; text-indent: 0.25in">Circular 21 may significantly
limit our ability to convert, transfer and use the net proceeds from this offering and any offering of additional equity securities in
China, which may adversely affect our liquidity and our ability to fund and expand our business in the PRC.</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; text-indent: 0.25in">We may also decide to finance
the PRC target company&rsquo;s subsidiaries by means of capital contributions. These capital contributions must be approved by MOFCOM
or its local counterpart, which usually takes no more than 30 working days to complete. We may not be able to obtain these government
approvals on a timely basis, if at all, with respect to future capital contributions by us to the PRC target company&rsquo;s subsidiaries.
If we fail to receive such approvals, we will not be able to capitalize our PRC operations, which could adversely affect our liquidity
and our ability to fund and expand our 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; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Changes in China&rsquo;s economic, political
or social conditions or government policies could have a material adverse effect on us and/or the PRC target company&rsquo;s business
and results of operations we may pursue in the future.</I></B></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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">If our initial business
combination target is a PRC company with operations in China, its business, prospects, financial condition and results of operations
may be influenced to a significant degree by political, economic and social conditions in China generally and by continued economic growth
in China as a whole.</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; text-indent: 0.25in">The Chinese economy differs
from the economies of most developed countries in many respects, including the amount of government involvement, level of development,
growth rate, control of foreign exchange and allocation of resources. Although the PRC government has implemented measures emphasizing
the utilization of market forces for economic reform, the reduction of state ownership of productive assets and the establishment of
improved corporate governance in business enterprises, a substantial portion of productive assets in China is still owned by the government.
In addition, the PRC government continues to play a significant role in regulating industry development by imposing industrial policies.
The PRC government also exercises significant control over China&rsquo;s economic growth through allocating resources, controlling payment
of foreign currency-denominated obligations, setting monetary policy, and providing preferential treatment to particular industries or
companies.</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; text-indent: 0.25in">While the Chinese economy
has experienced significant growth over the past decades, growth has been uneven, both geographically and among various sectors of the
economy. The PRC government has implemented various measures to encourage economic growth and guide the allocation of resources. Some
of these measures may benefit the overall Chinese economy, but may have a negative effect on us. For example, the PRC target company&rsquo;s
financial condition and results of operations may be adversely affected by government control over capital investments or changes in
tax regulations. In addition, in the past the PRC government has implemented certain measures, including interest rate increases, to
control the pace of economic growth. These measures may cause decreased economic activity in China, and since 2012, China&rsquo;s economic
growth has slowed down. Any prolonged slowdown in the Chinese economy may reduce the demand for the PRC target company&rsquo;s products
and services and materially and adversely affect its business and results of 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"></P>

<!-- Field: Page; Sequence: 106; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->95<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <B><I>You may face difficulties in protecting
your interests and exercising your rights as a shareholder if we were to conduct substantially all of our operations in China, and our
officers and directors currently and will likely reside outside the U.S.</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-align: justify; text-indent: 0.25in">Although we are incorporated
in the British Virgin Islands, our initial business combination target may be a PRC company with substantially all of its operations
in China. Further, all of our current officers and directors reside outside the U.S. and substantially all of the assets of those persons
are located outside of the U.S. It may be difficult for you to conduct due diligence on our company or such directors in your election
of the directors and attend shareholders meeting if the meeting is held in China. We would likely have one shareholder meeting each year
at a location to be determined, potentially in China. As a result of all of the above, our public shareholders may have more difficulty
in protecting their interests through actions against our management, directors or major shareholders than would shareholders of a corporation
doing business entirely or predominantly within the U.S.</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>Governmental control of currency conversion may affect the value
of your investment.</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-align: justify; text-indent: 0.25in"> Our initial business
combination target may be a PRC company with substantially all of its revenues in RMB. In such event, following our initial business
combination with a PRC target company, we will be subject to the PRC&rsquo;s rules and regulations on currency conversion. In the PRC,
the SAFE regulates the conversion of the Renminbi into foreign currencies. The PRC government imposes controls on the convertibility
of the Renminbi into foreign currencies and, in certain cases, the remittance of currency out of China. Under existing PRC foreign exchange
regulations, payments of current account items, including profit distributions, interest payments and expenditures from trade-related
transactions can be made in foreign currencies without prior approval from SAFE by complying with certain procedural requirements. However,
approval from or registration with appropriate government authorities is required where RMBs are to be converted into foreign currency
and remitted out of China to pay capital expenses such as the repayment of loans denominated in foreign currencies. The PRC government
may at its discretion restrict access to foreign currencies for current account transactions in the future. If the foreign exchange control
system prevents us from obtaining sufficient foreign currencies to satisfy our foreign currency demands, we may not pay dividends in
foreign currencies to our shareholders. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> The PRC laws or
regulations may impact the cash flows associated with our initial business combination, including shareholder redemption rights. For
example, if any PRC government actions cause a significant delay in our ability to consummate our initial business combination, we
might be required to seek shareholder approval to amend our amended and restated memorandum and articles of association in order to
extend the time period to complete our initial business combination, which approval may not be received. We currently do not have
plans to seek such shareholder approval, but if we do, we will provide public shareholders with the opportunity to redeem their
public shares from the trust account in connection with any such vote. However, the funds held in our trust account are not held in
China, they are held in U.S. dollars in the United States with Continental Stock Transfer &amp; Trust Company and therefore
shareholder redemption rights would not be impacted. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> PRC regulatory authorities
could impose further restrictions on the convertibility of RMBs. Any future restrictions on currency exchanges may limit our ability
to use the proceeds of this offering in an initial business combination with a PRC target company and the use our cash flow for the distribution
of dividends to our shareholders or to fund operations we may have outside of the PRC. </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"><B><I>Investors may experience difficulties in
effecting service of legal process, enforcing foreign judgments or bringing original actions in the PRC based upon U.S. laws, including
the federal securities laws or other foreign laws against us or the combined company (if we decide to consummate our initial business
combination with a target business based in and primarily operating in China) and the officers and directors of the company and the combined
company (if we decide to consummate our initial business combination with a target business based in and primarily operating in China).</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-align: justify; text-indent: 0.25in">There may be difficulties
in effecting service of legal process, enforcing foreign judgments or bringing actions in China against us based on foreign laws. Our
officers and directors reside outside of the United States. Also, if we decide to consummate our initial business combination with a
target business based and primarily operating outside of the United States, it is possible that substantially all or a significant portion
of combined company&rsquo;s assets may be located outside of the United States and some of the combined company&rsquo;s officers and
directors may reside outside of the United States. As a result, it may be difficult to effect service of process upon our current officers
and directors or any officers and directors of the combined company that who reside outside of the United States. Even with the proposed
service of process, it may also be difficult to enforce judgments obtained in U.S. courts based on the civil liability provisions of
the U.S. federal securities laws against the officers and directors. In addition, there is uncertainty as to whether the courts of the
PRC would recognize or enforce judgments of U.S. courts against the officers and directors predicated upon the civil liability provisions
of the securities laws of the United States or any state. The recognition and enforcement of foreign judgments are provided for under
the PRC Civil Procedures Law. PRC courts may recognize and enforce foreign judgments in accordance with the requirements of the PRC Civil
Procedures Law based either on treaties between China and the country where the judgment is made or on principles of reciprocity between
jurisdictions. China does not have any treaties or other forms of written arrangement with the United States that provide for the reciprocal
recognition and enforcement of foreign judgments. In addition, according to the PRC Civil Procedures Law, the PRC courts will not enforce
a foreign judgment by us against the officers or directors or the future combined company if they decide that the judgment violates the
basic principles of PRC laws or national sovereignty, security, or the public interest. As a result, it is uncertain whether and on what
basis a PRC court would enforce a judgment rendered by a court in the United States. Furthermore, there would be added costs and issues
with bringing an original action in foreign courts against the combined company or the officers and directors to enforce liabilities
based upon the U.S. Federal securities laws, and they still may be fruitless.</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: 107; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->96<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B><I>If we merge with a China-based operating
company, then there are significant uncertainties under the PRC Enterprise Income Tax Law relating to the withholding tax liabilities
of the PRC entity, and dividends payable by the PRC entity to our offshore entity may not qualify for certain treaty benefits.</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-align: justify; text-indent: 0.25in">Under the PRC Enterprise
Income Tax Law (&ldquo;PRC EIT Law&rdquo;) and its implementation rules, if following our initial business combination we are a non-resident
enterprise, that is, an enterprise lawfully incorporated pursuant to the laws of a foreign country (region) that has an office or premises
established in China with no actual management functions performed in China, or an enterprise that has income derived from or accruing
in China although it does not have an office or premises in China, will be subject to a withholding tax rate of 10%. Under the Notice
of the State Administration of Taxation on Issues regarding the Administration of the Dividend Provision in Tax Treaties promulgated
on February&nbsp;20, 2009, the taxpayer needs to satisfy certain conditions to utilize the benefits under a tax treaty. These conditions
include: (1)&nbsp;the taxpayer must be the beneficial owner of the relevant dividends, and (2)&nbsp;the corporate shareholder to receive
dividends from the PRC entity must have continuously met the direct ownership thresholds during the 12 consecutive months preceding the
receipt of the dividends. Further, under Announcement of the State Administration of Taxation on Issues Relating to &ldquo;Beneficial
Owner&rdquo; in Tax Treaties, which took effect on April&nbsp;1, 2018, a &ldquo;Beneficial Owner&rdquo; shall mean a person who has ownership
and control over the income and the rights and property from which the income is derived. To determine the &ldquo;beneficial owner&rdquo;
status of a resident of the treaty counterparty who needs to take advantage of the tax treaty benefits, a comprehensive analysis shall
be carried out, taking into account actual conditions of the specific case.</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; text-indent: 0.25in">Entitlement to a lower tax
rate on dividends according to tax treaties or arrangements between the PRC central government and governments of other countries or
regions is subject to Announcement of State Taxation Administration on Promulgation of the Administrative Measures on Non-resident Taxpayers
Enjoying Treaty Benefits, or Circular 35. Circular 35 provides that non-resident enterprises are not required to obtain pre-approval
from the relevant tax authority in order to enjoy the reduced withholding tax. Instead, non-resident enterprises and their withholding
agents may, by self-assessment and on confirmation that the prescribed criteria to enjoy the tax treaty benefits are met, directly apply
the reduced withholding tax rate, and file necessary forms and supporting documents when performing tax filings, which will be subject
to post-tax filing examinations by the relevant tax authorities.</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; text-indent: 0.25in">In addition, in response
to the persistent capital outflow in China and the RMB&rsquo;s depreciation against the U.S. dollar in the fourth quarter of 2016, the
People&rsquo;s Bank of China and SAFE promulgated a series of capital control measures in early 2017, including stricter vetting procedures
for domestic companies to remit foreign currency for overseas investments, dividends payments and shareholder loan repayments. The PRC
government may continue to strengthen its capital controls, and more restrictions and substantial vetting process may be put forward
by SAFE for cross-border transactions falling under both the current account and the capital account. Any limitation on the ability of
us to pay dividends or make other kinds of payments to us following our initial business combination could materially and adversely limit
our ability to grow, make investments or acquisitions that could be beneficial to our business, pay dividends, or otherwise fund and
conduct our 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; text-align: justify"><B><I>PRC regulations relating to the establishment
of offshore special purpose companies by PRC residents may subject our PRC resident beneficial owners or any future PRC subsidiaries
to liability or penalties, limit our ability to inject capital into any PRC subsidiaries, limit any PRC subsidiary&rsquo;s ability to
increase its registered capital or distribute profits to us, or may otherwise adversely affect us.</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-align: justify; text-indent: 0.25in">In July&nbsp;2014, SAFE
promulgated the Circular on Relevant Issues Concerning Foreign Exchange Control on Domestic Residents&rsquo; Offshore Investment and
Financing and Roundtrip Investment Through Special Purpose Vehicles, or SAFE Circular 37, to replace the Notice on Relevant Issues Concerning
Foreign Exchange Administration for Domestic Residents&rsquo; Financing and Roundtrip Investment Through Offshore Special Purpose Vehicles,
or SAFE Circular 75, which ceased to be effective upon the promulgation of SAFE Circular 37.</P>

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

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

<!-- Field: Page; Sequence: 108; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->97<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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; text-indent: 0.25in">&nbsp;</P>

<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"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">SAFE Circular 37 requires
PRC residents (including PRC individuals and PRC corporate entities) to register with SAFE or its local branches in connection with their
direct or indirect offshore investment activities. SAFE Circular 37 applies to our shareholders who are PRC residents and may apply to
any offshore acquisitions that we make in the future.</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; text-indent: 0.25in">Under SAFE Circular 37,
PRC residents who make, or have prior to the implementation of SAFE Circular 37 made, direct or indirect investments in offshore special
purpose vehicles, or SPVs, must register such investments with SAFE or its local branches. In addition, any PRC resident who is a direct
or indirect shareholder of an SPV must update its filed registration with the local branch of SAFE with respect to that SPV, to reflect
any material change.</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; text-indent: 0.25in">If our shareholders who
are PRC residents or entities fail to make the required registration or to update the previously filed registration, any PRC subsidiaries
may be prohibited from distributing their profits and any proceeds from any reduction in capital, share transfer or liquidation to us,
and we may be restricted in our ability to contribute additional capital to any PRC subsidiaries. On February&nbsp;13, 2015, SAFE promulgated
a Notice on Further Simplifying and Improving Foreign Exchange Administration Policy on Direct Investment, or SAFE Notice 13, which became
effective on June&nbsp;1, 2015.</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; text-indent: 0.25in">Under SAFE Notice 13, applications
for foreign exchange registration of inbound foreign direct investments and outbound overseas direct investments, including those required
under SAFE Circular 37, will be filed with qualified banks instead of SAFE. The qualified banks will directly examine the applications
and accept registrations under the supervision of SAFE.</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; text-indent: 0.25in">We have requested PRC residents
who we know hold direct or indirect interests in us to make the necessary applications, filings and registrations as required under SAFE
Circular 37. We believe that most of these shareholders have completed the initial foreign exchange registrations with relevant banks.
However, these individuals may not continue to make required filings or updates in a timely manner, or 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; text-align: justify; text-indent: 0.25in">We may not know the identities
of all PRC residents holding direct or indirect interest in our company. Any failure or inability by such individuals to comply with
SAFE regulations may subject us to fines or legal sanctions, restrict our cross-border investment activities, and limit any PRC subsidiary&rsquo;s
ability to distribute dividends to us. As a result, our business and our ability to make distributions to you could be materially adversely
affected.</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; text-indent: 0.25in">Furthermore, as these foreign
exchange regulations are still relatively new and their interpretation and implementation have been evolving, it is unclear how these
regulations, and any future regulation concerning offshore or cross-border transactions, will be interpreted, amended and implemented
by the relevant government authorities. For example, we may be subject to a more stringent review and approval process with respect to
our foreign exchange activities, such as remittance of dividends and foreign-currency- denominated borrowings, which may adversely affect
our financial condition and results of 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; text-align: justify; text-indent: 0.25in">If we acquire a PRC domestic
company, we or the owners of such company, as the case may be, may not obtain the necessary approvals or complete the necessary filings
and registrations required by the foreign exchange regulations. This may restrict our ability to implement our acquisition strategy and
could adversely affect our business and prospects.</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"><B><I>Because some of our executive officers
and directors are located in or have significant ties to the PRC, you may face difficulties in protecting your interests, and your ability
to protect your rights through the U.S. Federal courts may be limited.</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"></P>

<!-- Field: Page; Sequence: 109; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->98<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">Certain of our officers
and directors are residents of Hong Kong. As a result, legal claims against us or our executive officers and directors may be difficult
or impossible for investors to pursue in U.S. courts. Moreover, even if an investor obtains a judgment in a U.S. court against one of
our directors or officers, the investor may be unable to enforce such judgment on these directors and officers. It will equally be difficult
to effect service of process upon us or those persons inside the PRC. PRC courts may only recognize and enforce foreign judgments in
accordance with the requirements of the PRC Civil Procedures Law based either on treaties between the PRC and the country where the judgment
is made or on principles of reciprocity between jurisdictions. This is reflected in a number of bilateral treaties signed by the PRC,
which provide that lack of jurisdiction of the judgment court can be a ground for refusal. Further, a foreign judgment cannot be recognized
and enforced in the PRC if a Chinese court has rendered a judgment on the same subject matter or recognized and enforced another foreign
judgment or arbitral award on the same subject matter. In addition, according to the PRC Civil Procedures Law, the PRC courts will not
enforce a foreign judgment against us or our directors and officers if they decide that the judgment violates the basic principles of
PRC laws or national sovereignty, security, or public interest. The PRC has no treaties or other forms of written arrangement with the
United States that provide for the reciprocal recognition and enforcement of foreign judgments. As a result, it may be difficult for
investors to effect service of process within the United States upon us or our executive officers or directors who are residents of the
PRC, or to enforce judgments in the PRC (including Hong Kong and Macau) that are obtained in U.S. courts against us or such individuals,
including judgments predicated upon the civil liability provisions of the securities laws of the United States or any state thereof.
Even with proper service of process, the enforcement of judgments obtained in U.S. courts or foreign courts based on the civil liability
provisions of the U.S. federal securities laws would be extremely difficult given the PRC Civil Procedures Law and the lack of a treaty
or principles of reciprocity providing for the recognition and enforcement of U.S. judgments. Furthermore, there would be added costs
and issues with bringing an original action in foreign courts to enforce liabilities based on the U.S. federal securities laws against
us or our officers and directors, and they still may be fruitless.</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"><B><I>The recent joint statement by the SEC and
PCAOB, proposed rule&nbsp;changes submitted by Nasdaq, and the HFCAA all call for additional and more stringent criteria to be applied
to emerging market companies upon assessing the qualification of their auditors, especially the non-U.S. auditors who are not inspected
by the PCAOB. These developments could add uncertainties to our offering.</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-align: justify; text-indent: 0.25in">On April&nbsp;21, 2020,
SEC Chairman Jay Clayton and PCAOB Chairman William D. Duhnke III, along with other senior SEC staff, released a joint statement highlighting
the risks associated with investing in companies based in or have substantial operations in emerging markets including China. The joint
statement emphasized the risks associated with lack of access for the PCAOB to inspect auditors and audit work papers in emerging markets,
including China, and higher risks of fraud in emerging markets.</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; text-indent: 0.25in">On May&nbsp;18, 2020, Nasdaq
filed three proposals with the SEC to (i)&nbsp;apply minimum offering size requirement for companies primarily operating in &ldquo;Restrictive
Market&rdquo;, (ii)&nbsp;adopt a new requirement relating to the qualification of management or board of director for Restrictive Market
companies, and (iii)&nbsp;apply additional and more stringent criteria to an applicant or listed company based on the qualifications
of the company&rsquo;s auditors.</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; text-indent: 0.25in">On May&nbsp;20, 2020, the
U.S. Senate passed the Holding Foreign Companies Accountable Act (the &ldquo;HFCAA&rdquo;) requiring a foreign company to certify it
is not owned or controlled by a foreign government if the PCAOB is unable to audit specified reports because the company uses a foreign
auditor not subject to PCAOB inspection. If the PCAOB is unable to inspect the company&rsquo;s auditors for three consecutive years,
the issuer&rsquo;s securities are prohibited to trade on a national securities exchange or in the over-the-counter trading market in
the U.S. On December&nbsp;2, 2020, the U.S. House of Representatives approved the HFCAA. On December&nbsp;18, 2020, the HFCAA was signed
into law.</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; text-indent: 0.25in">On March&nbsp;24, 2021,
the SEC announced that it had adopted interim final amendments to implement congressionally mandated submission and disclosure requirements
of the Act. The interim final amendments will apply to registrants that the SEC identifies as having filed an annual report on Forms
10-K, 20-F, 40-F or N-CSR with an audit report issued by a registered public accounting firm that is located in a foreign jurisdiction
and that the PCAOB has determined it is unable to inspect or investigate completely because of a position taken by an authority in that
jurisdiction. The SEC will implement a process for identifying such a registrant and any such identified registrant will be required
to submit documentation to the SEC establishing that it is not owned or controlled by a governmental entity in that foreign jurisdiction
and will also require disclosure in the registrant&rsquo;s annual report regarding the audit arrangements of, and governmental influence
on, such a registrant.</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; text-indent: 0.25in">On June&nbsp;22, 2021, the
U.S. Senate passed the Accelerating Holding Foreign Companies Accountable Act, which, if passed by the U.S. House of Representatives
and signed into law, would reduce the number of consecutive non-inspection years required for triggering the prohibitions under the HFCAA
from three years to two. If our auditor cannot be inspected by the PCAOB for two consecutive years, the trading of our securities on
any U.S. national securities exchanges, as well as any over-the-counter trading in the U.S., will be prohibited.</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; text-indent: 0.25in">On September&nbsp;22, 2021,
the PCAOB adopted a final rule&nbsp;implementing the HFCAA, which provides a framework for the PCAOB to use when determining, as contemplated
under the HFCAA, whether the PCAOB is unable to inspect or investigate completely registered public accounting firms located in a foreign
jurisdiction because of a position taken by one or more authorities in that jurisdiction.</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; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->99<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">On December&nbsp;2, 2021,
the SEC issued amendments to finalize rules&nbsp;implementing the submission and disclosure requirements in the HFCAA. The rules&nbsp;apply
to registrants that the SEC identifies as having filed an annual report with an audit report issued by a registered public accounting
firm that is located in a foreign jurisdiction and that PCAOB is unable to inspect or investigate completely because of a position taken
by an authority in foreign jurisdictions.</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; text-indent: 0.25in">On December&nbsp;16, 2021,
the SEC announced that the PCAOB designated China as the jurisdictions where the PCAOB is not allowed to conduct full and complete audit
inspections as mandated under the HFCAA. The Company&rsquo;s auditor is based in the United States and therefore is not affected by this
mandate by the PCAOB.</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; text-indent: 0.25in">On August&nbsp;26, 2022,
the PCAOB signed a Statement of Protocol with the China Securities Regulatory Commission and the Ministry of Finance of the PRC, taking
the first step toward opening access for the PCAOB to inspect and investigate registered public accounting firms headquartered in mainland
China and Hong Kong completely, consistent with U.S. law. The Statement of Protocol gives the PCAOB sole discretion to select the firms,
audit engagements and potential violations it inspects and investigates and put in place procedures for PCAOB inspectors and investigators
to view complete audit work papers with all information included and for the PCAOB to retain information as needed. In addition, the
Statement of Protocol grants the PCAOB direct access to interview and take testimony from all personnel associated with the audits the
PCAOB inspects or investigates. While significant, uncertainties still exist as to how the Statement of Protocol will be implemented
and whether the applicable parties will comply with the framework.</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; text-indent: 0.25in">The lack of access to the
PCAOB inspection in certain emerging markets prevents the PCAOB from fully evaluating audits and quality control procedures of the auditors
based in those emerging markets. As a result, the investors may be deprived of the benefits of such PCAOB inspections. The inability
of the PCAOB to conduct inspections of auditors in certain emerging markets makes it more difficult to evaluate the effectiveness of
these accounting firms&rsquo; audit procedures or quality control procedures as compared to auditors outside of those emerging markets
that are subject to the PCAOB inspections, which could cause existing and potential investors in our shares to lose confidence in our
audit procedures and reported financial information and the quality of our financial statements.</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; text-indent: 0.25in">WWC, our auditor, the independent
registered public accounting firm that issues the audit report included elsewhere in this prospectus, as a firm registered with the PCAOB,
is subject to laws in the United States pursuant to which the PCAOB conducts regular inspections to assess our auditor&rsquo;s compliance
with the applicable professional standards. Our auditor is subject to inspection by the PCAOB on a regular basis with the last inspection
report dated November&nbsp;2021.</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; text-indent: 0.25in">While the Company&rsquo;s
auditor is based in the U.S. and is registered with the PCAOB and subject to PCAOB inspection, it may later be determined that the PCAOB
is unable to inspect or investigate completely the Company&rsquo;s auditor because of a position taken by an authority in a foreign jurisdiction.
In addition, if we effect our initial business combination with a business located in the PRC and our new auditor is located in the PRC,
a jurisdiction where the PCAOB has been unable to conduct inspections without the approval of the Chinese authorities, the work of our
new auditor as it relates to those operations may not inspected by the PCAOB. In either case, such lack of inspection could cause trading
in the Company&rsquo;s securities to be prohibited under the HFCAA, and ultimately result in a determination by a securities exchange
to delist the Company&rsquo;s securities. Furthermore, the recent developments would add uncertainties to our offering and we cannot
assure you whether Nasdaq or regulatory authorities would apply additional and more stringent criteria to us after considering the effectiveness
of our auditor&rsquo;s audit procedures and quality control procedures, adequacy of personnel and training, or sufficiency of resources,
geographic reach or experience as it relates to the audit of our financial statements. It remains unclear what the SEC&rsquo;s implementation
process related to the above rules&nbsp;will entail or what further actions the SEC, the PCAOB or Nasdaq will take to address these issues
and what impact those actions will have on U.S. companies that have significant operations in certain emerging markets and have securities
listed on a U.S. stock exchange (including a national securities exchange or over-the-counter stock market). In addition, the above amendments
and any additional actions, proceedings, or new rules&nbsp;resulting from these efforts to increase U.S. regulatory access to audit information
could create some uncertainty for investors, the market price of our ordinary shares could be adversely affected, and we could be delisted
if we and our auditor are unable to meet the PCAOB inspection requirement or being required to engage a new audit firm, which would require
significant expense and management time.</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: 111; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->100<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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="ca_002"></A>CAUTIONARY NOTE REGARDING
FORWARD-LOOKING STATEMENTS</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-align: justify; text-indent: 0.25in">Some statements contained
in this prospectus are forward-looking in nature. 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;intends,&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">&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: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our ability
    to complete our initial business combination;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our limited
    operating history;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our success
    in retaining or recruiting, or changes required in, our officers, key employees or directors following our initial business combination;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our potential
    ability to obtain additional financing to complete our initial business combination;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our pool of
    prospective target businesses;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the ability
    of our officers and directors to generate a number of potential acquisition opportunities;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Potential change
    in control if we acquire one or more target businesses for shares;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our public
    securities&rsquo; potential liquidity and trading;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Regulatory
    or operational risks associated with acquiring a target business;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the lack of
    a market for our securities;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the use of
    proceeds not held in the trust account or available to us from interest income on the trust account balance;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our financial
    performance following this offering; or</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Listing or
    delisting of our securities from Nasdaq or the ability to have our securities listed on Nasdaq following our initial business combination.</FONT></TD></TR>
  </TABLE>
<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; text-indent: 0.25in">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 heading &ldquo;Risk Factors&rdquo;. Should one or more
of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects
from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.</P>

<P STYLE="font: 10pt 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: 112; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->101<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>ENFORCEABILITY OF CIVIL LIABILITIES</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-align: justify; text-indent: 0.25in">We are incorporated under
the laws of the British Virgin Islands a business company with limited liability. We are incorporated in the British Virgin Islands because
of certain benefits associated with being a British Virgin Islands exempted company, such as political and economic stability, an effective
judicial system, a favorable tax system, the absence of foreign exchange control or currency restrictions and the availability of professional
and support services. However, the British Virgin Islands has a less developed body of securities laws than the United States and provides
less protection for investors. In addition, British Virgin Islands companies may not have standing to sue before the federal courts of
the United States.</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; text-indent: 0.25in">Our directors and officers
are nationals or residents of jurisdictions other than the United States and all or a substantial portion of their assets are located
outside the United States. As a result, it may be difficult for investors to enforce judgments in China that are obtained in U.S. courts
against them, including judgments predicated upon the civil liability provisions of the securities laws of the United States or any state
in the United States. It may also be difficult for you to enforce judgments in China that are obtained in U.S. courts based on the civil
liability provisions of the U.S. federal securities laws against us and our officers and directors.</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; text-indent: 0.25in">We have appointed [&#9679;]
as our agent to receive service of process with respect to any action brought against us in the U.S. District Court for the Southern
District of New York in connection with this offering under the federal securities laws of the United States or the securities laws of
any State in the United States or any action brought against us in the Supreme Court of the State of New York in the County of New York
in connection with this offering under the securities laws of the State of New York.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"></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; text-indent: 0.25in">Ogier, our counsel as to
British Virgin Islands law, has advised us that the British Virgin Islands Courts are also unlikely:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">to recognize or enforce against us judgments of courts
    of the United States based on certain civil liability provisions of U.S. securities laws where that liability is in respect of penalties,
    taxes, fines or similar fiscal or revenue obligations of the company; and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">to impose liabilities against us, in original actions
    brought in the British Virgin Islands, based on certain civil liability provisions of U.S. securities laws that are penal in nature.</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; text-align: justify; text-indent: 0.25in">There is no statutory recognition
in the British Virgin Islands of judgments obtained in the United States, although the courts of the British Virgin Islands will in certain
circumstances recognize such a foreign judgment and treat it as a cause of action in itself which may be sued upon as a debt at common
law so that no retrial of the issues would be necessary provided that the U.S. judgment:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the U.S. court issuing the judgment had jurisdiction
    in the matter and the company either submitted to such jurisdiction or was resident or carrying on business within such jurisdiction
    and was duly served with process;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">is final and for a liquidated sum;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the judgment given by the U.S. court was not in respect
    of penalties, taxes, fines or similar fiscal or revenue obligations of the company;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">in obtaining judgment there was no fraud on the part
    of the person in whose favor judgment was given or on the part of the court;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">recognition or enforcement of the judgment would not
    be contrary to public policy in the British Virgin Islands; and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the proceedings pursuant to which judgment was obtained
    were not contrary to natural justice.</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"></P>

<!-- Field: Page; Sequence: 113; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->102<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">In appropriate circumstances,
a British Virgin Islands Court may give effect in the British Virgin Islands to other kinds of final foreign judgments such as declaratory
orders, orders for performance of contracts and injunctions.</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"><B><I>Enforcement of Civil Liabilities</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-align: justify">Under the PRC Civil Procedure Law, foreign shareholders
may originate actions based on PRC law against a company in the PRC for disputes if they can establish sufficient nexus to the PRC for
a PRC court to have jurisdiction, and meet other procedural requirements, including, among others, the plaintiff must have a direct interest
in the case, and there must be a concrete claim, a factual basis and a cause for the suit. However, it will be difficult for U.S.&nbsp;shareholders
to originate actions against us in the PRC in accordance with PRC laws because we are incorporated under the laws of the British Virgin
Islands and it will be difficult for U.S.&nbsp;shareholders, by virtue only of holding our ordinary shares, to establish a connection
to the PRC for a PRC court to have jurisdiction as required under the PRC Civil Procedure Law. Even if a U.S. Shareholder is able to
establish jurisdiction, it can take months or even years for a case to be resolved and any such case can be extremely costly to bring
and prosecute.</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"><B><I>Enforcement of Foreign Judgements</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-align: justify"><B>Hong Kong</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-align: justify; text-indent: 0.25in">A judgment of a court in
the United&nbsp;States predicated upon U.S.&nbsp;federal or state securities laws may be enforced in Hong Kong at common law by bringing
an action in a Hong&nbsp;Kong court on that judgment for the amount due thereunder, and then seeking summary judgment on the strength
of the foreign judgment, provided that the foreign judgment, among other things, is (1)&nbsp;for a debt or a definite sum of money (not
being taxes or similar charges to a foreign government taxing authority or a fine or other penalty) and (2)&nbsp;final and conclusive
on the merits of the claim, but not otherwise. Such a judgment may not, in any event, be so enforced in Hong&nbsp;Kong if (a)&nbsp;it
was obtained by fraud; (b)&nbsp;the proceedings in which the judgment was obtained were opposed to natural justice; (c)&nbsp;its enforcement
or recognition would be contrary to the public policy of Hong Kong; (d)&nbsp;the court of the United&nbsp;States was not jurisdictionally
competent; or (e)&nbsp;the judgment was in conflict with a prior Hong&nbsp;Kong judgment.</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; text-indent: 0.25in">Hong Kong has no arrangement
for the reciprocal enforcement of judgments with the United&nbsp;States. As a result, there is uncertainty as to the enforceability in
Hong&nbsp;Kong, in original actions or in actions for enforcement, of judgments of United&nbsp;States courts of civil liabilities predicated
solely upon the federal securities laws of the United&nbsp;States or the securities laws of any State or territory within the United&nbsp;States.</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"><B>Mainland China</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-align: justify; text-indent: 0.25in">As of the date of this prospectus,
there is uncertainty as to whether the courts of mainland China would (1)&nbsp;recognize or enforce judgments of United&nbsp;States courts
obtained against us or such persons predicated upon the civil liability provisions of the securities laws of the United&nbsp;States or
any state thereof, or (2)&nbsp;be competent to hear original actions brought in each respective jurisdiction, against us or such persons
predicated upon the securities laws of the United&nbsp;States or any state thereof.</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; text-indent: 0.25in">The recognition and enforcement
of foreign judgments are mainly provided for under the Chinese Civil Procedure Law. Chinese courts may recognize and enforce foreign
judgments in accordance with the requirements of the Chinese Civil Procedure Law and other applicable laws and regulations based either
on treaties between mainland China and the country where the judgment is made or in reciprocity between jurisdictions. Accordingly, there
is uncertainty whether courts of mainland China will recognize or enforce judgments of United&nbsp;States or British Virgin Islands Courts
because mainland China does not have any treaties or other agreements with the British Virgin Islands or the United&nbsp;States that
provide for the reciprocal recognition and enforcement of foreign judgments as of the date of this prospectus. Further, under Chinese
Civil Procedure Law, Chinese courts will not enforce a foreign judgment against us or our officers and directors if the court decides
that such judgment violates the basic principles of PRC law or national sovereignty, security or social public interest. As a result,
it is uncertain whether and on what basis a PRC court would enforce a judgment rendered by a court in the United&nbsp;States or in the
British Virgin Islands.</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: 114; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->103<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B>Service of Process</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-align: justify; text-indent: 0.25in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Several
of our officers and directors live outside the United States</FONT>. Mr.&nbsp;Claudius Tsang, Mr.&nbsp;Wong Yi Dung Eden, Mr.&nbsp;Xiangge
Liu and Mr.&nbsp;Pang Wai Yuen Marvin live in Hong Kong.</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; text-indent: 0.25in">As a result, it may be difficult
for investors to effect service of process within the United&nbsp;States upon us or these persons, or to enforce judgments obtained in
U.S.&nbsp;courts against us or them, including judgments predicated upon the civil liability provisions of the securities laws of the
United&nbsp;States or any state in the United&nbsp;States. It will also be costlier and time-consuming&nbsp;for the investors to effect
service of process outside the United&nbsp;States, or to enforce judgments obtained from the U.S.&nbsp;courts in the courts of the jurisdictions
where our directors and officers reside. For example, China is a signatory to the Hague Service Convention and service of process must
be made under those rules, which requires all service of process to be made through the Central Authority, which is known for rejecting
requests for service which does not accurately and completely state all information required. China does not allow for service of process
through the mail or through other informal methods. Because of the cumbersome process associated with service of process in Hong Kong
and mainland China, it can take months or even years for service of process to be completed, and effecting such process can be costly
and add significant delay to any action that is attempted to be brought against residents or Honk Kong or mainland China.</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; text-indent: 0.25in">In addition, to enforce
a foreign judgment in Hong&nbsp;Kong, you will be required to apply to the Hong&nbsp;Kong High Court to enforce a foreign judgment for
which you will be required to engage a local counsel to facilitate or prepare the application, together with its various supporting documents.
You will then be required to go through the standard litigation process to sue on the judgment as a debt. In addition, a judgment of
a United&nbsp;States court for civil liabilities predicated upon the federal securities laws of the United&nbsp;States may also not be
enforceable in or recognized by the courts of the jurisdictions where our directors and officers reside. As such, it may be difficult
for you to enforce judgments obtained in U.S.&nbsp;courts based on the civil liability provisions of the U.S.&nbsp;federal securities
laws against us and our officers and directors.</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; text-indent: 0.25in">As a result of the foregoing,
public shareholders may have more difficulty in protecting their interests in the face of actions taken against the management, members
of the board of directors or controlling shareholders than they would as public shareholders of a United&nbsp;States-based&nbsp;company.</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: 115; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->104<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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="ca_003"></A>USE OF PROCEEDS</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-align: justify; text-indent: 0.25in">We are offering 5,500,000
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 units will be used as set forth in the following table.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Without<BR>
    Over-Allotment<BR>
    Option</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Over-Allotment<BR>
    Option<BR>
    Exercised</B></FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 70%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Gross proceeds</I></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 12%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 12%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gross proceeds from units offered to public<SUP>(1)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">55,000,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">63,250,000</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gross proceeds from private placement units offered
    in the private placement</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,800,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,882,500</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total gross proceeds</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">57,800,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">66,132,500</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Offering expenses<SUP>(2)</SUP></I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Underwriting commissions (1.0% of gross proceeds from
    units offered to public)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">550,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">632,500</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Initial Trustee Fee</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">80,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">80,000</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Legal fees and expenses</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">300,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">300,000</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounting fees and expenses</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">80,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">80,000</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SEC &amp; FINRA Expenses </FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24,876</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24,876</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NASDAQ listing and filing fees</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">80,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">80,000</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Printing and engraving expenses</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">50,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">50,000</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Miscellaneous Expenses<SUP>(3)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">235,124</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">235,124</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total offering expenses (other than underwriting commissions)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">850,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">850,000</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Proceeds after offering expenses</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">56,400,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">64,650,000</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Held in trust account</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">55,000,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">63,250,000</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">% of public offering size</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not held in trust account</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,400,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,400,000</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The following table shows the use of the approximately
$1,400,000 of net proceeds not held in the trust account<SUP>(4)</SUP>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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<BR>
    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"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Legal,
    accounting, due diligence, travel, and other expenses in connection with any business combination&nbsp;<SUP>(5)</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"> $ </TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right"> 100,000 </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"> 7.14 </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"> 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"> $ </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 300,000 </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"> 21.43 </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"> Legal and accounting fees related to regulatory reporting
    obligations </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"> 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"> 7.14 </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"> Due diligence, identification and research of prospective
    target business and reimbursement of out-of-pocket due diligence expenses to management </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"> 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"> 7.14 </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"> Other miscellaneous 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"> $ </TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"> 800,000 </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"> 57.14 </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"> 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"> 1,400,000 </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"> 100.00 </TD><TD STYLE="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">&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: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="width: 99%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes amounts
    payable to public shareholders who properly redeem their shares in connection with our successful completion of our initial business
    combination.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="width: 99%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A portion of
    the offering expenses have been paid from the proceeds of loans from our sponsor of up to $350,000 as described in this prospectus.
    As of June&nbsp;30, 2024, we had borrowed $125,651 under the promissory note with our sponsor. These loans will be repaid upon the
    closing of this offering out of the $1,400,000 of offering proceeds not 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.</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"></P>

<!-- Field: Page; Sequence: 116; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->105<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>

<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: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="width: 99%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes organizational
    and administrative expenses and may include amounts related to above-listed expenses in the event actual amounts exceed estimates.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</FONT></TD>
    <TD STYLE="width: 99%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 a business
    combination based upon the level of complexity of such business combination. In the event we identify an acquisition 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. The amount in the table above does not include interest available
    to us from the trust account. Based on current interest rates, we would expect approximately $ 2,7</FONT>50,000 per year to be available
    to us from interest earned on the funds held in the trust account following the investment of such funds in specified U.S. Government
    Treasury bills, however, we can provide no assurances regarding this amount. This estimate assumes no exercise of the underwriters&rsquo;
    over-allotment option and an interest rate of 5% per annum based upon current yields of securities in which the trust account may
    be invested. 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 $1,150,000 of such loans
    may be convertible into units at a price of $10.00 per unit at the option of the lender. The units would be identical to the private
    placement units issued to our sponsor. The terms of such loans by our sponsor, affiliate of our sponsor, or certain of 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.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</FONT></TD>
    <TD STYLE="width: 99%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes estimated
    amounts that may also be used in connection with our initial business combination to fund a &ldquo;no shop&rdquo; provision and commitment
    fees for financing.</FONT></TD></TR>
  </TABLE>
<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; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Of
the net proceeds of this offering and the sale of the private placement units, $55,000,000 (or $63,250,000 if the underwriters&rsquo;
over-allotment option is exercised in full) will, upon the consummation of this offering, 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&nbsp;2a-7 under the Investment
Company Act which invest only in direct U.S. government treasury obligations. Based on current interest rates, we estimate that the interest
earned on the trust account will be approximately $ 2,7</FONT>50,000 per year, assuming no exercise of the underwriters&rsquo; over-allotment
option and an interest rate of 5% per year, following the investment of such funds in specified U.S. government treasury bills or in
specified money market funds. We will not be permitted to withdraw any of the principal or interest held in the trust account except
for the withdrawal of interest to pay taxes, if any, the proceeds from this offering and the sale of the private placement units will
not be released from the trust account until the earliest of (i)&nbsp;the completion of our initial business combination, (ii)&nbsp;the
redemption of any public shares properly tendered in connection with a shareholder vote to amend our amended and restated memorandum
and articles of association to (A)&nbsp;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 12 months from the closing of this offering (or up to 18 months from the closing
of this offering if we extend the period of time to consummate a business combination by the full amount of time without shareholder
approval) or (B)&nbsp;with respect to any other provision relating to shareholders&rsquo; rights or pre-business combination activity
and (iii)&nbsp;the redemption of all of our public shares if we are unable to complete our initial business combination within 12 months
from the closing of this offering (or up to 18 months from the closing of this offering if we extend the period of time to consummate
a business combination by the full amount of time), subject to applicable law. </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; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->106<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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 acquisition, only after we have negotiated and signed a letter
of intent or other preliminary agreement that addresses the terms of a business combination. However, if our estimate of the costs of
undertaking in-depth due diligence and negotiating a 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Prior to the closing of
this offering, our sponsor has agreed to loan us up to $350,000 to be used for a portion of the expenses of this offering. As of June&nbsp;30,
2024, we had borrowed $125,651 under the promissory note with our sponsor. These loans are non-interest bearing, unsecured and are due
at the earlier of the closing of this offering or the date which the company determines not to conduct this offering. These loans will
be repaid upon the closing of this offering out of the $1,400,000 of offering proceeds not held in the trust account.</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; text-indent: 0.25in">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 $1,150,000 of such loans may be convertible into units at a price of $10.00 per unit
at the option of the lender. The units&nbsp;will be identical to the private placement units. 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">If we seek shareholder 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 also purchase shares in privately negotiated
transactions or in the open market either prior to or following the completion of our initial business combination. Please see &ldquo;<B><I>Proposed
Business &mdash; Permitted purchases of our securities</I></B>&rdquo; for a description of how such persons will determine which shareholders
to seek to acquire shares from. The price per share paid in any such transaction may be different than the amount per share a public
shareholder would receive if it elected to redeem its shares in connection with our initial business combination. However, such persons
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
non-public information not disclosed to the seller or if such purchases are prohibited by Regulation M under the Exchange Act. Any such
purchases would only be made in compliance with applicable rules&nbsp;and law, including Tender Offer Rules&nbsp;and Schedules Compliance
and Disclosure Interpretation 166.01.</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: 118; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->107<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in"> A public shareholder
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 shareholder vote to amend our amended
and restated memorandum and articles of association to (A)&nbsp;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 12 months from the closing of this offering (or up to 18
months from the closing of this offering if we extend the period of time to consummate a business combination by the full amount of time
without shareholder approval) or (B)&nbsp;with respect to any other provision relating to shareholders&rsquo; rights or pre-business
combination activity and (iii)&nbsp;the redemption of all of our public shares if we are unable to complete our initial business combination
within 12 months from the closing of this offering (or up to 18 months from the closing of this offering if we extend the period of time
to consummate a business combination by the full amount of time), subject to applicable law. In no other circumstances will a public
shareholder 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Maxim (and its designees),
our sponsor, officers and directors have entered into a letter agreement with us, pursuant to which they have agreed (and their permitted
transferees will agree) to waive their redemption rights with respect to their founder shares, private placement shares, Representative&rsquo;s
Shares and any public shares they may hold in connection with the completion of our initial business combination. In addition, Maxim
(and its designees), our sponsor, officers and directors have agreed to waive their rights to liquidating distributions from the trust
account with respect to their founder shares, private placement shares and Representative&rsquo;s Shares 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">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> Any of the public shares
purchased by our sponsor, initial shareholders, directors, officers, advisors and any of their respective affiliates from public shareholders
outside the redemption process described in this prospectus would not be voted in favor of approving our initial business combination.
The purpose of any such purchases could be 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. Any such transactions 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 ordinary shares 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">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"> In the event our sponsor,
directors, officers, advisors or their affiliates were to purchase shares from public shareholders, such purchases would by structured
in compliance with the requirements of Rule 14e-5 under the Exchange Act. See &ldquo;<B><I>Proposed Business</I>&nbsp;&mdash;&nbsp;<I>Permitted
purchases of our securities</I></B>.&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: 119; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->108<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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="ca_004"></A>DIVIDEND POLICY</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-align: justify; text-indent: 0.25in">We have not paid any cash
dividends on our ordinary shares 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. The payment of any cash dividends subsequent to our
initial business combination will be within the discretion of our Board of Directors at such time and we will only pay such dividend
out of our profits or share premium (subject to solvency requirements) as permitted under British Virgin Law. In addition, our Board
of Directors is not currently contemplating and does not anticipate declaring any share capitalizations in the foreseeable future. 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">&nbsp;</P>

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

<!-- Field: Page; Sequence: 120; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->109<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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="ca_005"></A>DILUTION</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-align: justify; text-indent: 0.25in"> The difference between
the public offering price per Class&nbsp;A ordinary share, assuming no value is attributed to rights included in the units we are offering
pursuant to this prospectus or the private placement rights, and the pro forma net tangible book value per Class&nbsp;A ordinary share
after this offering, constitutes the dilution to investors 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; text-align: justify; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif">The
below calculations assume that (i) no ordinary shares are issued to shareholders of a potential business combination target as consideration
or issuable by a post-business combination company, for instance under an equity or employee share purchase plan, (ii) no ordinary shares
and convertible equity or debt securities are issued in connection with additional financing that we may seek in connection with an initial
business combination, and (iii) no working capital loans are converted into private placement units, as further described in this prospectus.
The issuance of additional ordinary or preference shares to shareholders of a potential business combination target as consideration
could significantly dilute the equity interest of investors in this offering. For example, if we consummate a business combination with
a potential business combination target with an agreed upon consideration of $600 million assuming an all-share transaction, the shareholders
of the potential business combination target would be issued 60 million shares, which would dilute the interest of our shareholders.
Such dilution would even further increase if the anti-dilution provisions in the Class B ordinary shares resulted in the issuance of
Class A ordinary shares on a greater than one-to-one basis upon conversion of the Class B ordinary shares. See &ldquo;</FONT><B><I>Founder
shares conversion and anti-dilution&quot;.</I></B> </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Such calculation does
not reflect any dilution associated with the conversion of rights, including the private placement rights, which would cause the actual
dilution to the public shareholders to be higher. 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 ordinary shares which may be redeemed
for cash), by the number of issued and outstanding Class&nbsp;A ordinary shares. </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; text-indent: 0.25in">At June&nbsp;30, 2024, our
net tangible book value deficit was $(148,576) or approximately $(0.11) per ordinary share. After giving effect to the sale of 5,500,000
Class&nbsp;A ordinary shares included in the units we are offering by this prospectus (or 6,325,000 Class&nbsp;A ordinary shares if the
underwriters&rsquo; over-allotment option is exercised in full), the sale of the private securities and the deduction of underwriting
commissions and estimated expenses of this offering, our pro forma net tangible book value at June&nbsp;30, 2024 would have been $4,914,169
or $1.47 per share (or $1.43 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 5,500,000 Class&nbsp;A ordinary shares that may be
redeemed for cash, or 6,325,000 Class&nbsp;A ordinary shares if the underwriters&rsquo; over-allotment option is exercised in full) of
$1.58 per share (or $1.52 per share if the underwriters&rsquo; over-allotment option is exercised in full) to our initial shareholder
as of the date of this prospectus and dilution to public shareholders from this offering will be $6.53 per share (or $6.57 if the underwriters&rsquo;
over-allotment option is exercised in full).</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> The following tables illustrates the dilution
to the public shareholders on a per-share basis, assuming no value is attributed to the rights included in the units or the Private Placement
Units: </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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; border-bottom: Black 1pt solid"><B>No exercise of over-allotment option</B></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">No Redemption</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">25% of<BR>
    Maximum<BR> Redemptions</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">50% of<BR>
    Maximum<BR> Redemptions</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">75% of<BR>
    Maximum<BR> Redemptions</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">Maximum<BR>
    Redemptions</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: 45%; font-size: 10pt">Public offering price</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right">8.00</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right">8.00</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right">8.00</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right">8.00</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 8%; font-size: 10pt; text-align: right">8.00</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Net tangible book value before this offering</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">(0.11</TD><TD STYLE="font-size: 10pt; text-align: left">)</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">(0.11</TD><TD STYLE="font-size: 10pt; 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">(0.11</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">(0.11</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">(0.11</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">Increase
    attributable to public shareholders and sale of the placement units</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">6.46</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">5.91</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">5.12</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">3.86</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">1.58</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; text-align: left; padding-bottom: 1pt">Pro forma net tangible book value after this offering</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">6.35</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">5.80</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">5.01</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">3.75</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">1.47</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; text-align: left; padding-bottom: 2.5pt">Dilution to public shareholders</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">1.65</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">2.20</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">2.99</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">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">4.25</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">6.53</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-size: 10pt; text-align: left; padding-bottom: 2.5pt">Percentage of dilution to public shareholders</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">20.6</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">%</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">27.5</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; 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">37.4</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">53.1</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">81.6</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">&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">Full exercise of over-allotment option</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">No Redemption</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">25% of<BR>
    Maximum<BR> Redemptions</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">50% of<BR>
    Maximum<BR> Redemptions</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">75% of<BR>
    Maximum<BR> Redemptions</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">Maximum<BR>
    Redemptions</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: 45%; font: 10pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 10pt">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">$</TD><TD STYLE="width: 8%; font: 10pt Times New Roman, Times, Serif; text-align: right">8.00</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 8%; font: 10pt Times New Roman, Times, Serif; text-align: right">8.00</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">$</TD><TD STYLE="width: 8%; font: 10pt Times New Roman, Times, Serif; text-align: right">8.00</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 8%; font: 10pt Times New Roman, Times, Serif; text-align: right">8.00</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: 8%; font: 10pt Times New Roman, Times, Serif; text-align: right">8.00</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; text-indent: -10pt; padding-left: 10pt">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">(0.09</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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(0.09)
                                            (0.09)</FONT></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">(0.09</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">(0.09</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">(0.09</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">Decrease
    attributable to public shareholders and sale of the placement warrants</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">6.46</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">5.91</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">5.11</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">3.84</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">1.52</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; text-indent: -10pt; padding-left: 10pt">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">6.37</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">5.82</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">5.02</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">3.75</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">1.43</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">Dilution
    to public shareholders</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">1.63</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">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">2.18</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">2.98</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">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">4.25</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">6.57</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; text-indent: -10pt; padding-left: 10pt">Percentage
    of dilution to public shareholders</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">20.4</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">27.3</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">37.3</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">53.1</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">82.1</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">&nbsp;</P>

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

<!-- Field: Page; Sequence: 121; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->110<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">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 $51,259,208 because holders of up to 100% 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 shareholders meeting, including interest (which interest shall be net of taxes payable) divided by the number
of Class&nbsp;A ordinary shares sold 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; text-align: justify; text-indent: 0.25in">The following table sets
forth information with respect to our sponsor and the public shareholders:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Shares</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total
    Consideration</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Average<BR>
    Price</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Holder of</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Purchased</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Percentage</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Amount</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Percentage</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>per
    Share</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="width: 35%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Founder shares <SUP>(1)(2)</SUP></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,375,000</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15.54</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 10%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">25,000</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.04</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 10%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.02</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Private shares<SUP>(3)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">350,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.96</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,800,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.84</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.00</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Representative Shares<SUP>(4)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">247,500</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.80</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.00</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Public shares<SUP>(5)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6,875,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">77.71</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">55,000,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">95.11</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.00</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,847,500</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100.00</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">57,825,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100.00</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>(1)</SUP></FONT>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assumes no exercise of
    the underwriters&rsquo; over-allotment option and the corresponding forfeiture of an aggregate of 206,250 Class&nbsp;B ordinary shares
    held by our initial shareholder.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>(2)</SUP></FONT>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assumes conversion of Class&nbsp;B
    ordinary shares into Class&nbsp;A ordinary shares on a one-for-one basis. The dilution to public shareholders would increase to the
    extent that the anti-dilution provisions of the Class&nbsp;B ordinary shares result in the issuance of Class&nbsp;A ordinary shares
    on a greater than one-to-one basis upon such conversion.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>(3)</SUP></FONT>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assumes includes the issuance
    of an additional 70,000 shares underlying the private placement rights issued to our sponsor upon the closing of this offering.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>(4)</SUP></FONT>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assumes 4.5% of the gross
    proceeds of the Offering of the Company&rsquo;s Class&nbsp;A Ordinary Shares that will be registered in the Offering and will be
    paid to underwriter at the closing of the Offering.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>(5)</SUP></FONT>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assumes no exercise of
    the underwriters&rsquo; over-allotment option and includes the issuance of an additional 1,375,000 shares underlying the rights included
    in the units.</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; text-indent: 0.25in">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">&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"> No exercise of over-allotment option </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"> No<BR>
    Redemption </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"> 25%
    of <BR>
    Maximum <BR>
    Redemptions </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"> 50%
    of<BR>
    Maximum <BR>
    Redemptions </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"> 75%
    of <BR>
    Maximum <BR>
    Redemptions </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"> Maximum
    <BR>
    Redemptions </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; padding-bottom: 1pt"> Numerator: </TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 35%; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"> Net tangible book deficit
    before this offering </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> (148,576 </TD><TD STYLE="width: 1%; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> ) </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> (148,576 </TD><TD STYLE="width: 1%; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> ) </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> (148,576 </TD><TD STYLE="width: 1%; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> ) </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> (148,576 </TD><TD STYLE="width: 1%; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> ) </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> (148,576 </TD><TD STYLE="width: 1%; 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="text-indent: -0.125in; padding-left: 0.125in"> Net proceeds from this offering and sale of the private placement units,
    net of 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"> 56,400,000 </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"> 56,400,000 </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"> 56,400,000 </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"> 56,400,000 </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"> 56,400,000 </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="text-indent: -0.125in; padding-left: 0.125in"> Plus: Offering costs paid in advance, excluded from tangible book value </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"> - </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"> - </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"> - </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"> - </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"> - </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: 1pt"> Less: Deferred underwriting commissions </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"> - </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"> - </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"> - </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"> - </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"> - </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"> Less: Over-allotment liability </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"> (78,047 </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"> (78,047 </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"> (78,047 </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"> (78,047 </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"> (78,047 </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="text-indent: -0.125in; padding-left: 0.125in"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Less:
    Proceeds held in trust subject to redemption<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"> - </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"> (12,814,802 </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"> (25,629,604 </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"> (38,444,406 </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"> (51,259,208 </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"> $ </TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> 56,173,377 </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"> 43,358,575 </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"> 30,543,773 </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"> 17,728,971 </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"> 4,914,169 </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: bold 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><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><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="text-indent: -0.125in; padding-left: 0.125in"> Ordinary shares issued and outstanding prior to this offering </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"> 1,581,250 </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"> 1,581,250 </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"> 1,581,250 </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"> 1,581,250 </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"> 1,581,250 </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="text-indent: -0.125in; padding-left: 0.125in"> Ordinary shares 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"> (206,250 </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"> (206,250 </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"> (206,250 </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"> (206,250 </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"> (206,250 </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"> Ordinary shares included in the units offered </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"> 5,500,000 </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"> 5,500,000 </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"> 5,500,000 </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"> 5,500,000 </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"> 5,500,000 </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"> Ordinary shares included in the private placement units </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"> 280,000 </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"> 280,000 </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"> 280,000 </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"> 280,000 </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"> 280,000 </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="text-indent: -0.125in; padding-left: 0.125in"> Ordinary shares underlying the rights to be included in the public units </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"> 1,375,000 </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"> 1,375,000 </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"> 1,375,000 </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"> 1,375,000 </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"> 1,375,000 </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="text-indent: -0.125in; padding-left: 0.125in"> Ordinary shares underlying the rights to be included in the private placement
    units </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"> 70,000 </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"> 70,000 </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"> 70,000 </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"> 70,000 </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"> 70,000 </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"> Representative Share </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"> 247,500 </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"> 247,500 </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"> 247,500 </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"> 247,500 </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"> 247,500 </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"> Less: Shares 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"> - </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"> (1,375,000 </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"> (2,750,000 </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"> (4,125,000 </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"> (5,500,000 </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"> 8,847,500 </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"> 7,472,500 </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"> 6,097,500 </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"> 4,722,500 </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"> 3,347,500 </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">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 122; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->111<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>

<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"> Full exercise of over-allotment option </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"> No Redemption </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"> 25%
    of Maximum Redemptions </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"> 50%
    of Maximum Redemptions </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"> 75%
    of Maximum Redemptions </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"> Maximum
    Redemptions </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; padding-bottom: 1pt"> Numerator: </TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> &nbsp; </TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"> &nbsp; </TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 35%; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"> Net tangible book deficit
    before this offering </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> (148,576 </TD><TD STYLE="width: 1%; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> ) </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> (148,576 </TD><TD STYLE="width: 1%; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> ) </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> (148,576 </TD><TD STYLE="width: 1%; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> ) </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> (148,576 </TD><TD STYLE="width: 1%; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left"> ) </TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> $ </TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"> (148,576 </TD><TD STYLE="width: 1%; 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="text-indent: -0.125in; padding-left: 0.125in"> Net proceeds from this offering and sale of the private placement units,
    net of 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"> 64,650,000 </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"> 64,650,000 </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"> 64,650,000 </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"> 64,650,000 </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"> 64,650,000 </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="text-indent: -0.125in; padding-left: 0.125in"> Plus: Offering costs paid in advance, excluded from tangible book value </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"> - </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"> - </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"> - </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"> - </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"> - </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: 1pt"> Less: Deferred underwriting commissions </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"> - </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"> - </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"> - </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"> - </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"> - </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"> Less: Over-allotment liability </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"> - </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"> - </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"> - </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"> - </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"> - </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: 1pt"> Less: Proceeds held in trust 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"> - </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"> (14,764,800 </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"> (29,529,600 </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"> (44,294,400 </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"> (59,059,200 </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"> $ </TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"> 64,501,424 </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"> 49,736,624 </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"> 34,971,824 </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"> 20,207,024 </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"> 5,442,224 </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: bold 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><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><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="text-indent: -0.125in; padding-left: 0.125in"> Ordinary shares issued and outstanding prior to this offering </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"> 1,581,250 </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"> 1,581,250 </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"> 1,581,250 </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"> 1,581,250 </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"> 1,581,250 </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="text-indent: -0.125in; padding-left: 0.125in"> Ordinary shares 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"> - </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"> - </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"> - </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"> - </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"> - </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"> Ordinary shares included in the units offered </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"> 6,325,000 </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"> 6,325,000 </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"> 6,325,000 </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"> 6,325,000 </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"> 6,325,000 </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"> Ordinary shares included in the private placement units </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"> 288,250 </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"> 288,250 </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"> 288,250 </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"> 288,250 </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"> 288,250 </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="text-indent: -0.125in; padding-left: 0.125in"> Ordinary shares underlying the rights to be included in the public units </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"> 1,581,250 </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"> 1,581,250 </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"> 1,581,250 </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"> 1,581,250 </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"> 1,581,250 </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="text-indent: -0.125in; padding-left: 0.125in"> Ordinary shares underlying the rights to be included in the private placement
    units </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"> 72,063 </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"> 72,063 </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"> 72,063 </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"> 72,063 </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"> 72,063 </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"> Representative Share </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"> 284,625 </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"> 284,625 </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"> 284,625 </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"> 284,625 </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"> 284,625 </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"> Less: Shares 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"> - </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"> (1,581,250 </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"> (3,162,500 </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"> (4,743,750 </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"> (6,325,000 </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"> 10,132,438 </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"> 8,551,188 </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"> 6,969,938 </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"> 5,388,688 </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"> 3,807,438 </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">&nbsp;</P>

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

<!-- Field: Page; Sequence: 123; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->112<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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="ca_006"></A>CAPITALIZATION</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-align: justify; text-indent: 0.25in">The following table sets
forth our capitalization at June&nbsp;30, 2024, and as adjusted to give effect to the sale of our 5,500,000 units in this offering for
$55,000,000 (or $10.00 per unit) and the sale of 280,000 private placement units for $2,800,000 (or $10.00 per unit) and the application
of the estimated net proceeds derived from the sale of such securities:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Actual</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>As
    <BR>
    Adjusted<SUP>(1)</SUP></B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="width: 74%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Promissory note - related party
    <SUP>(2)</SUP></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 10%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">125,651</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 10%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Over-allotment liability</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">78,047</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class&nbsp;A
    ordinary share, subject to redemption, 0 and 5,500,000 shares which are subject to possible redemption/tender, actual and as adjusted,
    respectively<SUP>(3)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">51,259,208</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preference
    shares, with no par value, 1,000,000 shares authorized; none issued and outstanding, actual and as adjusted, respectively</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class&nbsp;A
    ordinary share, with no par value, 100,000,000 shares authorized; 0 and 527,500 shares issued and outstanding, actual and as adjusted,
    respectively<SUP>(4)</SUP></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class&nbsp;B
    ordinary share, with no par value, 10,000,000 shares authorized, 1,581,250 shares issued and outstanding, actual and as adjusted
    <SUP>(5)</SUP>&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additional paid-in capital</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">25,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,087,745</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accumulated deficit</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(173,576)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(173,576)</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total shareholders&rsquo; equity (deficit)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(148,576)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,914,169</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total capitalization</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(22,925)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">56,251,424</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="width: 95%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assumes the
    full forfeiture of 206,250 shares that are subject to forfeiture by our sponsor depending on the extent to which the underwriters&rsquo;
    over-allotment option is exercised. The proceeds of the sale of such shares will not be deposited into the trust account, the shares
    will not be eligible for redemption from the Trust account nor will they be eligible to vote upon the initial business combination.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="width: 95%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our sponsor
    has agreed to loan us up to $350,000 under an unsecured promissory note to be used for a portion of the expenses of this offering.
    As of June&nbsp;30, 2024 we had borrowed $125,651 under the promissory note with our sponsor.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="width: 95%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon the completion
    of our initial business combination, we will provide our public shareholders 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 (which interest shall be net of taxes payable) subject to
    the limitations described herein. The &ldquo;as adjusted&rdquo; amount of ordinary shares subject to redemption includes all public
    shares included in the units sold in this offering, assuming the over-allotment option is not exercised. In accordance with ASC 480-10-S99,
    the Company will classify the Class&nbsp;A ordinary shares subject to redemption outside of permanent equity as the redemption provisions
    are not solely within the control of the Company. Given that the 5,500,000 Class&nbsp;A ordinary shares sold as part of the units
    in the offering will be issued with other freestanding instruments (i.e., rights), the initial carrying value of Class&nbsp;A ordinary
    shares classified as temporary equity will be the allocated proceeds determined in accordance with ASC 470-20. If it is probable
    that the equity instrument will become redeemable, the Company has the option to either (i)&nbsp;accrete changes in the redemption
    value over the period from the date of issuance (or from the date that it becomes probable that the instrument will become redeemable,
    if later) to the earliest redemption date of the instrument or (ii)&nbsp;recognize changes in the redemption value immediately as
    they occur and adjust the carrying amount of the instrument to equal the redemption value at the end of each reporting period. The
    Company has elected to recognize the changes in redemption value as a charge against retained earnings or, in the absence of retained
    earnings, as a charge against additional paid-in-capital over an expected 12-month period leading up to a business combination. </FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</FONT> </TD>
    <TD STYLE="width: 95%; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Including
    280,000 Class&nbsp;A ordinary shares to be sold as part of the private placement units in the private placement and 247,500 Class&nbsp;A
    Ordinary Shares that will be registered in the Offering and will be paid to underwriter at the closing of the Offering for the consideration
    of underwriter commission.</FONT> </TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</FONT></TD>
    <TD STYLE="width: 95%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Actual and
    &ldquo;as adjusted&rdquo; shares have been retroactively restated to reflect a share subscription and purchase agreement. On September&nbsp;3,
    2021, 1,437,500 Class&nbsp;B ordinary shares were issued to the Sponsor for $25,000. On July&nbsp;23, 2024, the Company issued 1,581,250
    Class&nbsp;B ordinary shares to the Sponsor for $25,000, and immediately repurchased the 1,437,500 initial shares from the Sponsor
    for $25,000, resulting in 1,581,250 Class&nbsp;B ordinary shares outstanding after the repurchase (of which an aggregate of up to
    206,250 shares are subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriter).</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"></P>

<!-- Field: Page; Sequence: 124; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->113<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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="ca_018"></A>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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Overview</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-align: justify; text-indent: 0.25in">We are a blank check company
incorporated in the British Virgin Islands as a business company and incorporated for the purpose of effecting a merger, share 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 units, the proceeds of the sale of our securities in connection with
our initial business combination, our shares, debt or a combination of cash, stock and debt.</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: 0.25in">The issuance of additional ordinary shares in
a business combination:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="width: 48px; padding-bottom: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="padding-bottom: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 ordinary shares resulted in the issuance of Class&nbsp;A ordinary shares on a greater than one-to-one basis upon
    conversion of the Class&nbsp;B ordinary shares;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="padding-bottom: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">may
    subordinate the rights of holders of ordinary shares if preference shares are issued with rights senior to those afforded our ordinary
    shares;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="padding-bottom: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">could
    cause a change of control if a substantial number of our ordinary shares 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;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="padding-bottom: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">may
    have the effect of delaying or preventing a change of control of us by diluting the share ownership or voting rights of a person
    seeking to obtain control of us; and</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">may adversely affect prevailing
    market prices for our Class&nbsp;A ordinary shares and/or rights.</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; text-indent: 0.25in">Similarly, if we issue debt securities, it could
result in:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="width: 48px; padding-bottom: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="padding-bottom: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">default
    and foreclosure on our assets if our operating revenues after an initial business combination are insufficient to repay our debt
    obligations;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="padding-bottom: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">acceleration
    of our obligations to repay the indebtedness even if we make all principal and interest payments when due if we breach certain covenants
    that require the maintenance of certain financial ratios or reserves without a waiver or renegotiation of that covenant;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="padding-bottom: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    immediate payment of all principal and accrued interest, if any, if the debt security is payable on demand;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="padding-bottom: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="padding-bottom: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">our
    inability to pay dividends on our ordinary shares;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="padding-bottom: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 ordinary shares if declared, expenses, capital expenditures, acquisitions and other general corporate purposes;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="padding-bottom: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">limitations
    on our flexibility in planning for and reacting to changes in our business and in the industry in which we operate;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 10pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="padding-bottom: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">increased
    vulnerability to adverse changes in general economic, industry and competitive conditions and adverse changes in government regulation;
    and</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">limitations on our ability
    to borrow additional amounts for expenses, capital expenditures, acquisitions, debt service requirements, execution of our strategy
    and other purposes and other disadvantages compared to our competitors who have less debt.</FONT></TD></TR>
  </TABLE>

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

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

<!-- Field: Page; Sequence: 125; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->114<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
indicated in the accompanying financial statements, at June 30, 2024 we had $0</FONT>&nbsp; in cash, and a working capital deficit of
$0. Further, we expect to continue to incur significant costs in the pursuit of our acquisition 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Results of Operations and Known Trends or
Future Events</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-align: justify; text-indent: 0.25in">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 expect to generate non-operating income in the form of interest income on cash and cash equivalents
after this offering. There has been no significant change in our financial or trading position and no material adverse change has occurred
since the date of our audited financial statements. After this offering, we expect to incur increased expenses as a result of being a
public company (for legal, financial reporting, accounting and auditing compliance), as well as for due diligence expenses. We expect
our expenses to increase substantially after the closing of this offering.</P>

<P STYLE="font: 10pt 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"><B>Liquidity and Capital Resources</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-align: justify; text-indent: 0.25in">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 $350,000 in loans from our sponsor under an unsecured promissory note. As of June&nbsp;30, 2024, we had borrowed $125,651 under
the promissory note with our sponsor. We estimate that the net proceeds from (i)&nbsp;the sale of the units in this offering, after deducting
offering expenses of approximately $850,000 and underwriting commissions of $550,000 and (ii)&nbsp;the sale of the private placement
units for a purchase price of $2,800,000 (or $2,882,500 if the underwriters&rsquo; over-allotment option is exercised in full), will
be $56,400,000 (or $64,650,000 if the underwriters&rsquo; over-allotment option is exercised in full). Of this amount, $55,000,000 or
($63,250,000 if the underwriters&rsquo; over-allotment option is exercised in full) will be deposited into a non-interest bearing 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 $1,400,000 will not be held in the trust account. In the event that our offering expenses exceed our estimate of
$850,000 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 $850,000, 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">We intend to use substantially
all of the funds held in the trust account, including any amounts representing interest earned on the trust account (which interest shall
be net of taxes payable ) to complete our initial business combination. We may withdraw interest to pay taxes, if any. Our annual income
tax obligations will depend on the amount of interest and other income earned on the amounts held in the trust account. To the extent
that our ordinary shares 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Prior to the completion
of our initial business combination, we will have available to us $1,400,000 of proceeds held outside the trust account. We will use
these funds primarily 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, structure, negotiate and complete a business combination, obtain
directors and officers insurance, and to pay taxes to the extent the interest earned on the trust account is not sufficient to pay our
taxes.</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: 126; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->115<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">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 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 $1,150,000 of such loans may be convertible into units at a price of $10.00 per unit
at the option of the lender. The units would be identical to the private placement units issued to our sponsor. 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">We expect our primary liquidity
requirements during that period to include approximately $100,000 for legal, accounting, due diligence, travel, and other expenses in
connection with any business combination; $300,000 for director and officer liability insurance premiums; $100,000 for legal and accounting
fees related to regulatory reporting obligations; $100,000 for due diligence, identification and research of prospective target business
and reimbursement of out of pocket due diligence expenses to management and approximately $800,000 for other miscellaneous 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; text-align: justify; text-indent: 0.25in">These amounts are estimates
and may differ materially from our actual expenses. In addition, we could use a portion of the funds not being placed in trust to pay
commitment fees for financing, fees to consultants to assist us with our search for a target business or as a down payment or to fund
a &ldquo;no-shop&rdquo; provision (a provision designed to keep target businesses from &ldquo;shopping&rdquo; around for transactions
with other companies on terms more favorable to such target businesses) with respect to a particular proposed business combination, although
we do not have any current intention to do so. If we entered into an agreement where we paid for the right to receive exclusivity from
a target business, the amount that would be used as a down payment or to fund a &ldquo;no-shop&rdquo; provision would be determined based
on the terms of the specific business combination and the amount of our available funds at the time. Our forfeiture of such funds (whether
as a result of our breach or otherwise) could result in our not having sufficient funds to continue searching for, or conducting due
diligence with respect to, 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; text-align: justify; text-indent: 0.25in">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.</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"><B>Controls and Procedures</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-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are not currently required to certify for the effectiveness 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 </FONT>December&nbsp;31,
2025. 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Prior to the closing of
this offering, we have not completed an assessment, nor have our auditors 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">&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: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">staffing for
    financial, accounting and external reporting areas, including segregation of duties;</FONT></TD></TR>
</TABLE>

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

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

<!-- Field: Page; Sequence: 127; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->116<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 10pt; width: 1%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 10pt; text-align: justify; width: 5%"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="padding-bottom: 10pt; text-align: justify; width: 94%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">reconciliation
    of accounts;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 10pt; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="padding-bottom: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">proper
    recording of expenses and liabilities in the period to which they relate;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 10pt; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="padding-bottom: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">evidence
    of internal review and approval of accounting transactions;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 10pt; text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="padding-bottom: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">documentation
    of processes, assumptions and conclusions underlying significant estimates; and</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">documentation of accounting
    policies and procedures.</FONT></TD></TR>
  </TABLE>
<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; text-indent: 0.25in">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 expenses 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Once our management&rsquo;s
report on internal controls is complete, we will retain our independent auditors to audit and render an opinion on such report when required
by Section&nbsp;404. The independent auditors 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Quantitative and Qualitative Disclosures about
Market Risk</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-align: justify; text-indent: 0.25in">The net proceeds of this
offering and the sale of the private placement units held in the trust account will be invested in U.S. government treasury bills with
a maturity of 185 days or less or in money market funds meeting certain conditions under Rule&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">&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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> On September&nbsp;3,
2021, our sponsor purchased 1,437,500 founder shares for an aggregate purchase price of $25,000, or approximately $0.017 per share. On
July&nbsp;23, 2024, we issued to our sponsor 1,581,250 founder shares for an aggregate purchase price of $25,000 or approximately $0.016
per share, and subsequently 1,437,500 of the founder shares were repurchased by the Company for an aggregate purchase price of $25,000.
Prior to this offering, our sponsor has agreed to transfer an aggregate of 60,000 of its founder shares, or 20,000 each to our three
independent directors. The purchase price of the founder shares was determined by dividing the amount of cash contributed to the company
by the number of founder shares issued. As such, our sponsor will own 20% of our issued and outstanding shares after this offering (assuming
it does not purchase units in this offering and excluding the private placement shares and the Representative&rsquo; Shares). If we increase
or decrease the size of the offering, we will effect a capitalization or share surrender or redemption or other appropriate mechanism,
as applicable with respect to our Class&nbsp;B ordinary shares immediately prior to the consummation of the offering in such amount as
to maintain the ownership of founder shares our sponsor at 20% of our issued and outstanding ordinary shares upon the consummation of
this offering&nbsp;(excluding the private placement shares). Our sponsor does not intend to purchase any units 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; text-align: justify; text-indent: 0.25in">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">&nbsp;</P>

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

<!-- Field: Page; Sequence: 128; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->117<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in"> Our sponsor has agreed
to loan us up to $350,000 under an unsecured promissory note to be used for a portion of the expenses of this offering. As of June&nbsp;30,
2024, we had borrowed $125,651 under the promissory note with our sponsor. These loans are non-interest bearing, unsecured and are due
at the earlier of the closing of this offering or the date which the company determines not to conduct this offering. These loans will
be repaid upon the closing of this offering out of the $1,400,000 of offering proceeds not held in the trust account. </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; text-indent: 0.25in">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. 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 $1,150,000 of such loans may be convertible into units at a price of $10.00 per unit at the option of the lender.
The units would be identical to the private placement units issued to our sponsor. 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Our sponsor has agreed
to purchase an aggregate of 280,000 units (or 288,250 units if the over-allotment option is exercised in full) at a price of $10.00 per
unit. Each private placement unit will be identical to the units sold in this offering, except as described in this prospectus. The private
placement units will be sold in a private placement that will close simultaneously with the closing of this offering and any exercise
of the over-allotment option, as applicable. Each private placement unit consists of one Class&nbsp;A ordinary share and one right to
receive one-fourth (1/4) of one Class&nbsp;A ordinary share. There will be no redemption rights or liquidating distributions from the
trust account with respect to the founder shares, private placement shares, private placement rights or public rights, which will expire
worthless if we do not consummate a business combination within the allotted 12-month period (or up to 18 months from the closing of
this offering if we extend the period of time to consummate a business combination by the full amount of time without shareholder approval).
Our initial shareholder has agreed to waive their redemption rights with respect to their founder shares and private placement shares
(i)&nbsp;in connection with the consummation of a business combination, (ii)&nbsp;in connection with a shareholder vote to amend our
amended and restated memorandum and articles of association 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 12 months after the closing of this offering (or up to 18
months from the closing of this offering if we extend the period of time to consummate a business combination by the full amount of time)
and (iii)&nbsp;if we fail to consummate a business combination within 12 months after the closing of this offering (or up to 18 months
from the closing of this offering if we extend the period of time to consummate a business combination by the full amount of time) or
if we liquidate prior to the expiration of the 12-month period (or up to 18 months from the closing of this offering if we extend the
period of time to consummate a business combination by the full amount of time). However, our initial shareholders will be entitled to
redemption rights with respect to any public shares held by them if we fail to consummate a business combination or liquidate within
the 12-month period (or up to 18 months from the closing of this offering if we extend the period of time to consummate a business combination
by the full amount of time). </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; text-indent: 0.25in">Pursuant to a registration
rights agreement we will enter into with our sponsor 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 units issued upon conversion of working capital loans, if
any, are entitled under the registration 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&nbsp;Rule&nbsp;415&nbsp;under
the Securities Act. In addition, these holders have the right to include their securities in other registration statements filed by us.
However, the registration rights agreement provides that we will not permit any registration statement filed under the Securities Act
to become effective until the securities covered thereby are released from their lock-up restrictions, as described herein. We will bear
the costs and expenses of filing any such registration statements. See &ldquo;<B><I>Certain Relationships and Related Party Transactions</I></B>.&rdquo;</P>

<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"></P>

<!-- Field: Page; Sequence: 129; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->118<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>Off-Balance Sheet Arrangements; Commitments and Contractual Obligations;
Quarterly Results</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-align: justify; text-indent: 0.25in">As of June&nbsp;30, 2024,
we did not have any off-balance sheet arrangements as defined in Item 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">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">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 auditor&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 auditor&rsquo;s report 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 our initial public
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: 130; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->119<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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="ca_016"></A>PROPOSED BUSINESS</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>General</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-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are a blank check company incorporated in the British Virgin Islands as a business company for the purpose of effecting a merger, share
exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer
to throughout this prospectus as our initial business combination. Although there is no restriction or limitation on what industry or
geographic region our target operates in, it is our intention to pursue prospective targets that are </FONT>in the Environmental, Sustainability
and Governance (ESG) and material technology sector, which we believe have an optimistic growth trajectory for the coming years. We also
intend to focus on prospective target businesses that have potential for revenue growth and/or operating margin expansion with recurring
revenue and cash flow, and strong market positions within their industries. We will primarily seek to acquire one or more growth businesses
with a total enterprise value of between $100,000,000 and $600,000,000. At the time of preparing this prospectus, we do not have any
specific business combination under consideration or contemplation, and we have not, nor has anyone on our behalf, contacted any prospective
target business or had any discussions, formal or otherwise, with respect to such a transaction. Our efforts to date are limited to organizational
activities related to 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>Background and Competitive Strengths</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-align: justify; text-indent: 0.25in">We believe the experience
and contacts of our management team will give us distinct advantages in sourcing, structuring and consummating acquisition transactions.
Our management and director team come from backgrounds ranging from over two decades of experience in private equity, finance and investment
management sectors, as well as leadership roles in various financial institutions and advisory positions. We also believe that our strong
mixture of skills, including experience with business development, entrepreneurship, investment and finance, will provide us access to
proprietary deals and assist us in identifying and evaluating a target, manage risk and effect a successful business combination. However,
none of our management team is obligated to remain with the company after an acquisition transaction, and we cannot provide assurance
that the resignation or retention of our current management will be a term or condition in any agreement relating to an acquisition transaction.
Moreover, despite the competitive advantages we believe we have, we remain subject to significant competition with respect to identifying
and executing an acquisition transaction.</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; text-indent: 0.25in">We will seek to capitalize
on the experience and networks of the members of our management team: Mr.&nbsp;Claudius Tsang, Mr.&nbsp;Xiangge Liu, Mr.&nbsp;Wong Yi
Dung Eden and Mr.&nbsp;Pang Wai Yuen Marvin. Our team consists of seasoned and experienced professionals who have significant experience
in investing in both public and private companies. Members of our management also have extensive experience in sourcing and evaluating
potential investment targets as well as deal negotiation, corporate finance, business operations and management. We have developed a
proprietary network of business leaders, investors and intermediaries that we believe can generate deal flow for us. We believe our team
has the ability to source attractive deals and find good investment opportunities from sources in their networks.</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; text-indent: 0.25in">Mr.&nbsp;Claudius Tsang,
our Chief Executive Officer, Chief Financial Officer and Chairman, has over 20 years of experience in capital markets, with a strong
track record of success in private equity, M&amp;A transactions and PIPE investments with a focus on Greater China and other emerging
markets. Mr.&nbsp;Xiangge Liu, our Independent Director, has over 25 years of extensive experience in private equity, project finance
and advisory services. Mr.&nbsp;Wong Yi Dung Eden, our Independent Director, is an experienced leader in the finance and investment management
space, having founded and managed multiple investment firms and serving in senior roles at various financial institutions. Mr.&nbsp;Pang
Wai Yuen Marvin, our Independent Director, has expertise in finance, investment management and business development, with significant
roles in corporate finance and capital market advisory activities.</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 0.25in; text-align: justify; text-indent: -0.25in"><B>Leadership
of an Experienced Management Team</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-align: justify; text-indent: 0.25in">Our management team is led
by the Chief Executive Officer, Chief Financial Officer and Chairman of our Board of Directors, Mr.&nbsp;Claudius Tsang.</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: 131; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->120<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Mr.&nbsp;Claudius
Tsang</B></FONT>&nbsp;has served as our Chief Executive Officer since September 2021, and as our Chief Financial Officer and Chairman
of our Board of Directors since July 2024. Mr. Tsang has over 20 years of experience in capital markets, with a strong track record of
success in private equity, M&amp;A transactions, and PIPE investments. Since 2022, Mr. Tsang has been the non-executive director of Unity
Group Holdings International Limited (SEHK:1539), a publicly listed investment company engages in the leasing and trading of energy saving
products in Hong Kong. During his 15-year career at Templeton from 2005 to 2007 and from 2008 to 2020, Mr. Tsang served in various positions,
including Co-head of Private Equity (North Asia) at Templeton Asset Management Limited and a Partner of Templeton Private Equity Partners,
Partner, Senior Executive Director, and Vice President. Mr. Tsang was responsible for the overall investment, management, and operations
activities of Templeton Private Equity Partners in North Asia. His role encompassed overseeing the analysis and evaluation of opportunities
for strategic equity investments in Asia. From July 2007 to June 2008, Mr. Tsang joined Lehman Brothers, where he managed private equity
projects in Hong Kong, China, Taiwan and the United States. Mr. Tsang served as the Chief Executive Officer and Chairman of Model Performance
Acquisition Corp., from March 2021 and July 2021 respectively, until it closed its business combination with MultiMetaVerse Inc. in January
2023. Since November 2022, he has served as the Chief Executive Officer, Chairman and Director of A Paradigm Acquisition Corp. He previously
served as the Chief Executive Officer and in June 2021 became the Chief Financial Officer of JVSPAC Acquisition Corp. Mr. Tsang has served,
from April 2021, as the Chief Executive Officer, and from July 2021, as the Chairman and Chief Financial Officer of A SPAC I Acquisition
Corp, until it closed its business combination with NewGenIvf Group Limited in April 2024. He has served as the Chief Financial Officer
of A SPAC II Acquisition Corp since July 2021 and as the Director and Chief Executive Officer of A SPAC (HK) Acquisition Corp since February
2022 and March 2022, respectively. From February 2024 to July 2024, Mr. Tsang served as a director of International Media Acquisition
Corp. Mr. Tsang served as a director of the CFA Society of Hong Kong from 2013 to 2019. Mr. Tsang obtained a postgraduate certificate
in sustainable business from the University of Cambridge in 2023, a Master of Business Administration from the University of Chicago
Booth School of Business in 2017, a bachelor&rsquo;s degree in law from Tsinghua University in 2005, and a bachelor&rsquo;s degree in
engineering from the Chinese University of Hong Kong in 1998. Mr. Tsang is also a CFA charter holder and a Certified ESG Analyst (CESGA)
certification holder. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> <B>Mr. Xiangge Liu </B>will
serve as our Independent Director after the effectiveness of the registration statement of which this prospectus is a part. Mr. Liu has
over 25 years of extensive experience in private equity, project finance and advisory services. Since 2022, Mr. Liu has served as an
advisor &amp; acting CEO to Homaer Capital, where he advised on strategic overseas investment opportunities and he also has served as
a Responsible Officer for Homaer Asset Management Limited since 2023. From 2011 to 2021, Mr. Liu served as the Managing Director and
Responsible Officer of RRJ Management (HK), a licensed corporation under the SFO to carry out Type 1 (dealing in securities) and Type
4 (advising on securities) regulated activities, as the sub-adviser to RRJ Capital II Ltd, and general partner of RRJ Capital Master
Fund, which focuses in equity investments. From 2016 to 2018, Mr. Liu served as the Non-Executive Board Director for China Logistics
Property Holdings Co Ltd, an investment holding company listed in Hong Kong with its subsidiaries principally engaged in manufacture
and sales of premium logistics facilities. From 2010 to 2011, Mr. Liu served as senior vice-president and head of risk management at
CIAM Group Limited, an investment management company of CITIC Group Corporation where he oversaw investment operations and portfolio
management. From 2008 to 2010, Mr. Liu served as managing director at Dingyi Venture Capital (HK) Limited, an investment company, and
was responsible for overseeing its investment operations. From 2007 to 2008, Mr. Liu served as the Director in Project Finance and Advisory
for Societe Generale Asia limited. Mr. Liu obtained a master&rsquo;s degree in business administration from Boston University in 1999
and a bachelor&rsquo;s degree in finance from Beijing Foreign Studies University in 1989. We believe that Mr. Liu is qualified to serve
on our board of directors based on his private equity, project finance &amp; advisory expertise. </P>

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

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

<!-- Field: Page; Sequence: 132; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->121<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in"> <B>Mr.&nbsp;Wong Yi Dung
Eden</B> will serve as our Independent Director after the effectiveness of the registration statement of which this prospectus is a part.
Since January&nbsp;2022, Mr.&nbsp;Wong has served as Councillor of Greater China Division at CPA Australia. He previously served as Divisional
President of Greater China Division from January&nbsp;2022 to December&nbsp;2022, Deputy Divisional President of Greater China Division
from January&nbsp;2020 to December&nbsp;2021, and Chairman of the Financial Services Committee of Greater China Division from January&nbsp;2019
to December&nbsp;2021. During his tenure, he was responsible for engaging members and providing local support for CPA Australia in Greater
China, as well as maintaining the integrity of the designation. Since November&nbsp;2018, Mr.&nbsp;Wong has served as Chairman of ViiPark
Financial Holdings Co Limited. During his tenure, he was responsible for overseeing the strategic management of the company, developing
relationships with major clients, and monitoring and improving internal control. From November&nbsp;2010 to October&nbsp;2018, Mr.&nbsp;Wong
served as the Founder, Managing Director and Responsible Officer of East Pak Investment Management Co Limited. He was responsible for
managing a Cayman Island-incorporated fund that focuses on investment in the Greater China market. He was also involved in daily management,
sourcing and the analysis of investment opportunities in listed equities, fixed income, private equities and credit markets. From 2006
to 2010, Mr Wong served as an Executive Director at Goldman Sachs, in the Investment Management Division and the Fixed Income, Currencies
and Commodities Division. From 2004 to 2006, Mr.&nbsp;Wong served as a Director of the Fixed Income Division at Credit Suisse (Hong Kong).
From 2000 to 2004, Mr.&nbsp;Wong served as the Director of Debt Research at ING Bank N.V. (Hong Kong). From 1999 to 2000, Mr.&nbsp;Wong
served as a Senior Corporate Analyst at Banque Paribas (Hong Kong). Mr.&nbsp;Wong began his career at HSBC (Hong Kong) where he served
as a Credit Research Analyst, Corporate Relationship Manager and Executive Trainee from 1991 to 1998. Mr.&nbsp;Wong obtained his master&rsquo;s
degree in business administration from the University of Chicago in 2016. He obtained his Bachelor of Laws from University of London
and Bachelor of Commerce from University of Melbourne in 2005 and 1991, respectively. Mr.&nbsp;Wong is a Fellow Member at CPA (Australia)
since 2017. We believe that Mr.&nbsp;Wong is qualified to serve on our board of directors based on his leadership experience in the finance
and investment management space, having founded and managed multiple investment firms and serving in senior roles at various financial
institutions. </P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> <B>Mr.&nbsp;Pang Wai
Yuen Marvin</B> will serve as our Independent Director after the effectiveness of the registration statement of which this prospectus
is a part. Since 2022, Mr.&nbsp;Pang has served as the Director of Corporate Finance at iFree Group (HK) Limited, where he has led the
corporate finance efforts of Trollee &ndash; the group&rsquo;s smart retail technology division. In his current role, he analyses and
advises on global capital market opportunities and ascertains various exit options for the company. From 2018 to 2021, Mr.&nbsp;Pang
served as Managing Director - Head of Equities at Shenwan Hongyuan Securities (HK) Ltd. where he managed the overall institutional equity
business of the group outside mainland China. During his tenure, he also spearheaded the ECM&nbsp;&amp; syndication efforts for the H-share
IPO of Shenwan Hongyuan Group Ltd (6806.HK), and led the D-share IPO effort of Qingdao Haier (600690.CH), the first time such shares
of a Chinese company was listed on the China Europe International Exchange D-Share market of the Frankfurt Stock Exchange. From 2016
to 2018, Mr.&nbsp;Pang served as Managing Director - Head of Equity Capital Markets at Central China International Capital Limited where
he set up and led the ECM department and was involved in arranging the investment by a major cornerstone investor in the Zhongyuan Bank
Co Ltd (1216.HK) IPO. From 2012 to 2014, Mr.&nbsp;Pang served as the Head of the Hong Kong Office for Itau Asia Securities Limited, the
Hong Kong SFC-regulated entity of Itau Unibanco, one of the largest banks in the Latin American region. He was responsible for expanding
the firm&rsquo;s business from a Brazilian focus targeting Chinese clients and diversifying it to a Latin American focus targeting a
wider Asian client base. From 2008 to 2010, Mr.&nbsp;Pang was the Head of Equity Sales - China&nbsp;&amp; HK for HSBC Global Markets,
where he successfully led the Asian tranche of the US$12 billion follow-on offering of Vale of Brazil in 2008. He was also involved in
the IPO of L&rsquo;Occitane (973.HK), the first French company to list in Hong Kong. From 2005 to 2008, Mr.&nbsp;Pang served as Executive
Director &ndash; HK&nbsp;&amp; China Equity Sales at BOCI Securities Ltd. From 1998 &ndash; 2000, and from 2001 to 2005, Mr.&nbsp;Pang
was the Head of Institutional Equity Sales at Core Pacific-Yamaichi International (H.K.) Ltd. From 1988 to 2001, Mr.&nbsp;Pang served
at various companies, including Chase Manhattan Investment Management HK, Sanyo Securities HK, Daiwa Securities Canada, RBC Dominion
Securities Canada, Dresdner Kleinwort Benson Securities Asia and SBI E2 Capital Securities. Mr.&nbsp;Pang obtained a Master of Business
Administration (Finance) from the University of Stirling in 1988. He has been a Chartered Financial Analyst since 1996. In 2009, he was
voted as the number-one ranked hedge fund salesperson in the Asiamoney Brokers Poll. </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"><B>Established
Deal Sourcing Network</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-align: justify; text-indent: 0.25in">We believe the strong track
record of our management team will enable us to get access to quality deal pipeline. We intend to leverage our management team&rsquo;s
industry experiences, proven deal sourcing capabilities and broad network of relationships in numerous industries, including finance
and investment managers, business executives, entrepreneurs, corporate finance advisors and institutional investors, which we believe
will provide us with a pipeline of business combination opportunities.</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; text-indent: 0.25in">We expect that the collective
experience, capability and network of our CEO, CFO and Chairman, Claudius Tsang, our directors and other officers, combined with their
individual and collective reputations in the investment and business community, will serve to create prospective business combination
opportunities. Moreover, our management team with its contacts and sources from which to generate acquisition opportunities will also
enable A SPAC III Acquisition Corp to pursue complementary follow-on business arrangements.</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: 133; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->122<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">Our team will deploy a proactive
sourcing strategy and focus our efforts on companies where we believe the combination of our team&rsquo;s operating experience, business
development prowess, professional relationships and tactical expertise can be catalysts to enhance the growth potential and value of
a target business and provide opportunities for attractive returns to our shareholders. We believe that our backgrounds will enable us
to identify these companies, conduct efficient, effective due diligence, make an appealing case of strategic relevance to the target,
and articulate an attractive growth case to public-market investors.</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>Status as a Publicly Listed Acquisition 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-align: justify; text-indent: 0.25in">We believe our structure
will make us an attractive business combination partner to prospective target businesses. As a publicly listed company, we will offer
a target business an alternative to the traditional initial public offering process. We believe that some target businesses will favor
this alternative, which we believe is less expensive, while offering greater certainty of execution, than the traditional initial public
offering process. During an initial public offering, there are typically underwriting fees and marketing expenses, which would be costlier
than a business combination with us. Furthermore, once a proposed business combination is approved by our shareholders (if applicable)
and the transaction is consummated, the target business will have effectively become public, whereas an initial public offering is always
subject to the underwriter&rsquo;s ability to complete the offering, as well as general market conditions that could prevent the offering
from occurring. Once public, we believe the target business would have greater access to capital and additional means of creating management
incentives that are better aligned with shareholders&rsquo; interests than it would as a private company. It can offer further benefits
by augmenting a company&rsquo;s profile among potential new customers and vendors and aid in attracting talented management staffs.</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; text-indent: 0.25in">With respect to the foregoing
examples and descriptions, past performance by our management team 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.
Potential investors should not rely upon the historical record of our management as indicative of future performance.</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"><B>Acquisition Strategy</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-align: justify; text-indent: 0.25in">Our efforts in identifying
prospective target businesses will not be limited to a particular industry or country, although we intend to focus on businesses in ESG
and material technology sector, an area where we believe has an optimistic growth trajectory for the coming years. There is no restriction
on the geographic location for our target search, and it is our intent to pursue targets globally. Since our sponsor and its affiliate(s)&nbsp;as
well as certain of our current executive officers and directors are located or have significant ties to China, we may acquire a target
business that is based, from, expanded or has operations in China. In particular, we intend to focus our search for an initial business
combination on private companies that have compelling economics and paths to positive operating cash flow, recurring revenue, strong
market position, and successful management teams that are seeking to expand their operations and investor base in Asia and globally.
These criteria and guidelines are not intended to be exhaustive. Any evaluation of 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 the management
team, directors, and advisory board may deem relevant. We may decide to enter our initial business combination with a target business
that does not meet these criteria and guidelines.</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; text-indent: 0.25in">We believe that the material
technology sector has a strong growth trajectory due to important trends. According to some sources, there is an increasing demand for
novel materials which may be a result of a growing preference for sustainable and eco-friendly products, as well as the integration of
technology to enhance product quality and efficiency. Furthermore, we believe that the concept of ESG is growing in significance. Certain
trends are reported to contribute to the growth of the ESG market, including increased awareness, enhanced corporate transparency and
reporting, and rising investor demand for ESG integration. We believe that these sectors encompass a broad range of companies that could
make attractive targets for us. We believe there to be many potential targets within this industry that could become attractive public
companies.</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: 134; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->123<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">We will seek to capitalize
on the strength of our management team. We believe that our board and management&rsquo;s experiences, from evaluating assets through
investing, company building and strategic management, will enable us to identify, source, negotiate and execute an initial business combination
with an attractive company or businesses within the ESG and material technology market that have the capacity for cash flow creation,
opportunity for operational improvement and robust company fundamentals, and enable us to execute a business combination with high-quality
targets. Our selection process will leverage our board and management&rsquo;s broad network of relationships with leading start-ups,
established and reputable MNCs and respected peers, as well as our industry and execution expertise and deal sourcing capabilities. Together
with this network of trusted partners, we intend to capitalize the target business and create purposeful strategic initiatives in order
to achieve attractive growth and performance after our initial business combination. We are not prohibited from pursuing an initial business
combination with a company that is affiliated with our sponsor, officers or directors, or completing the 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 a 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 another independent firm that commonly renders valuation opinions
or from independent accounting firm that our 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Investment Criteria</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-align: justify; text-indent: 0.25in">Consistent with our acquisition
strategy, we have identified the following criteria to evaluate prospective target businesses. We will primarily seek to acquire one
or more growth businesses with a total enterprise value of between $100,000,000 and $600,000,000. Although we may decide to enter into
our initial business combination with a target business that does not meet any of the criteria described below, it is our intention to
acquire companies that we believe:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">C</FONT>ompetitive
    advantage in the markets and/or underexploited growth opportunities that our team is positioned to identify;</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; text-align: justify; text-indent: 0.25in">We intend to seek target
companies that have competitive advantages and/or underexploited expansion opportunities that can benefit from access to additional capital
as well as expertise. We believe a large number of companies suffer from a lack of insightful strategy and capital for growth. We intend
to target businesses that have historically demonstrated growth and possess favorable future growth characteristics. Our management team
has significant experience in identifying such targets and in helping target management assess the strategic and financial fit.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Strong management
    team that can create significant value for the target company;</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; text-align: justify; text-indent: 0.25in">We will seek to identify
companies with strong and experienced management teams that will complement the operating and investment abilities of our management
team. We believe we can provide a platform for the existing management team to leverage the experience of our management team. We believe
that the operating expertise of our management team is well suited to complement the target&rsquo;s management team.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ready to be
    public, and will benefit from access to capital market</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; text-align: justify; text-indent: 0.25in">We will look for public-ready
management teams that have a track record of value creation for their shareholders, with the ambition to take advantage of the improved
liquidity and additional capital that can come from a successful listing in the United States. We believe that there are a substantial
number of potential target businesses with appropriate valuations that can benefit from a public listing and new capital to support revenue
and earnings growth.</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>Sourcing of Potential Business Combination Targets</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-align: justify; text-indent: 0.25in">We believe that the operational
and transactional experience of our management team and their respective affiliates, and the relationships they have developed as a result
of such experience, will provide us with a substantial number of potential business combination targets. These individuals and entities
have developed a broad network of contacts and corporate relationships around the world. This network has grown through sourcing, acquiring
and financing businesses, relationships with sellers, financing sources and target management teams and experience in executing transactions
under varying economic and financial market conditions. We believe that these networks of contacts and relationships will provide us
important sources of investment opportunities. In addition, we anticipate that target business candidates may be brought to our attention
from various unaffiliated sources, including investment market participants, private equity funds and large business enterprises seeking
to divest noncore assets or divisions.</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: 135; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->124<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">Our acquisition criteria,
due diligence processes and value creation methods are not intended to be exhaustive. Any evaluation relating to the merits of a particular
initial business combination may be based, to the extent relevant, on these general guidelines as well as other considerations, factors
and criteria that our management may deem relevant. Our search for a business combination, 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
by factors beyond our control.</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; text-indent: 0.25in">We are not prohibited from
pursuing an initial business combination with a company that is affiliated with our sponsor, officers or directors, or making the acquisition
through a joint venture or other form of shared ownership with our sponsor, officers or directors. In the event we seek to complete an
initial business combination with a 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 firm that commonly renders
valuation opinions or from an independent accounting firm, 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Unless we complete our initial
business combination with an affiliated entity, or our Board of Directors 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, another independent
firm that commonly renders valuation opinions or from an independent accounting firm that the price we are paying for a target is fair
to our company from a financial point of view. If no opinion is obtained, our shareholders will be relying on the judgment of our Board
of Directors, which will have significant discretion in choosing the standard used to establish the fair market value of the target or
targets, and different methods of valuation may vary greatly in outcome from one another. Such standards used will be disclosed in our
tender offer documents or proxy solicitation materials, as applicable, related to our initial business combination.</P>

<P STYLE="font: 10pt 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; text-indent: 0.25in">As more fully discussed
in &ldquo;<B><I>Management &mdash; Conflicts of Interest</I></B>,&rdquo; if any of our officers or directors becomes aware of a business
combination opportunity that falls within the line of business of any entity to which he or she has pre-existing fiduciary or contractual
obligations, he or she may be required to present such business combination opportunity to such entity prior to presenting such business
combination opportunity to us, subject to his or her fiduciary duties under British Virgin Islands law. All of our officers 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Other Acquisition Considerations</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-align: justify; text-indent: 0.25in">We are not prohibited from
pursuing an initial business combination with a company that is affiliated with our sponsor, officers or directors. In the event we seek
to complete our initial business combination with a company that is affiliated with our sponsor, officers or directors, we, or a committee
of independent directors, will obtain an opinion from an independent investment banking firm or another independent firm that commonly
renders valuation opinions or from an independent accounting firm that our 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Unless we complete our initial
business combination with an affiliated entity, or our Board of Directors 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, another independent
firm that commonly renders valuation opinions or from an independent accounting firm that the price we are paying for a target is fair
to our company from a financial point of view. If no opinion is obtained, our shareholders will be relying on the business judgment of
our Board of Directors, which will have significant discretion in choosing the standard used to establish the fair market value of the
target or targets, and different methods of valuation may vary greatly in outcome from one another. Such standards used will be disclosed
in our tender offer documents or proxy solicitation materials, as applicable, related to our initial business combination.</P>

<P STYLE="font: 10pt 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; text-indent: 0.25in">Members of our management
team may directly or indirectly own our Class&nbsp;A ordinary shares and/or private placement units 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 was 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">&nbsp;</P>

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

<!-- Field: Page; Sequence: 136; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->125<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif">Our
directors and officers are also not required to commit any specified amount of time to our affairs, and, accordingly, will have
conflicts of interest in allocating management time among various business activities, including identifying potential business
combinations and monitoring the related due diligence. Furthermore, our sponsor and its affiliates(s)&nbsp;as well our directors and
officers presently have, and in the future any of our sponsor and its affiliate(s), our directors and our officers may have
additional, fiduciary or contractual obligations to other entities pursuant to which such sponsor, affiliate(s), officer or director
is or will be required to present acquisition opportunities to such entity. Accordingly, subject to his or her fiduciary duties
under British Virgin Islands law, if any of our officers or directors becomes aware of an acquisition opportunity which is suitable
for an entity to which he or she has then current fiduciary or contractual obligations, he or she will need to honor his or her
fiduciary or contractual obligations to present such acquisition opportunity to such entity, and only present it to us if such
entity rejects the opportunity. Our amended and restated memorandum and articles of association will provide that, subject to his or
her fiduciary duties under British Virgin Islands law, we renounce our interest or expectancy in any corporate opportunity offered
to any officer or director 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 complete on a reasonable basis.
We do not believe, however, that any fiduciary duties or contractual obligations of our directors or officers would materially
undermine our ability to complete our business combination. For example, Claudius Tsang, our Chief Executive Officer, Chief
Financial Officer and Chairman, currently also serves as Chief Financial Officer of ASCB., a special purpose acquisition company
incorporated for the purposes of effecting a business combination. ASCB completed its initial public offering in May 5, 2022,
generating gross proceeds of $200,000,000. As of the date of this prospectus, ASCB is in search of business combination targets.
Because ASCB has not identified a target business, Mr. Tsang has a pre-existing fiduciary obligation to present potential target
businesses to ASCB, and will therefore present any potential target businesses to it prior to presenting them to us. While both ASCB
and our company are exploring targets with an ESG focus, ASCB is </FONT>searching for prospective opportunities in high-growth
industries utilizing cutting-edge technologies, such as proptech and fintech (&quot;New Economy Sectors&quot;). In contrast, our
initial considerations also extend to companies within the new materials sector. Furthermore, ASCB is initially searching for
potential targets with an enterprise value of $800 million to $2 billion whereas we are looking at potential targets with an
enterprise value of $100 million to $600 million. </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; text-indent: 0.25in">Although there is no restriction
or limitation on what industry or geographic region our target operates in, it is our intention to pursue prospective targets that are
in the ESG and material technology sector, which we believe have an optimistic growth trajectory for the coming years. We also intend
to focus on prospective target businesses that have potential for revenue growth and/or operating margin expansion with recurring revenue
and cash flow, and strong market positions within their industries. We will seek to identify targets that are likely to provide attractive
financial returns through business combinations. We have yet to determine a time frame, an investment amount or any other criteria, which
would trigger our search for business opportunities. We believe that we will add value to these businesses primarily by providing them
with access to the U.S. capital markets.</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; text-indent: 0.25in">Our sponsor, officers and
directors have may become an officers or directors of other special purpose acquisition companies. Notwithstanding that, such officers
and directors will continue to have a pre-existing fiduciary obligation to us and we will, therefore, have priority over any special
purpose acquisition companies they subsequently join.</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 Sponsor</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-align: justify; text-indent: 0.25in"> Our sponsor, A SPAC III
(Holdings) Corp., is a limited liability company incorporated in British Virgin Islands and was incorporated for the sole purpose of
holding securities interest in the Company. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Prior to this offering,
the Sponsor, its affiliates and promoters directly or indirectly, held 1,581,250 Class&nbsp;B ordinary shares, or founder shares (up
to 206,250 of which are subject to forfeiture depending on the extent to which the underwriters&rsquo; over-allotment option is exercised)
which were purchased for $25,000. The Class&nbsp;B ordinary shares will automatically convert into Class&nbsp;A ordinary shares at the
time of our initial business combination, or earlier at the option of the holder, on a one-for-one basis, subject to adjustment as specified
in &ldquo;<B><I>Founder shares conversion and anti-dilution</I></B>&rdquo; and may result in immediate and substantial dilution from
the purchase of our Class A ordinary shares. </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; text-indent: 0.25in"> Prior to the closing
of this offering, our sponsor has agreed to loan us up to $350,000 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 the closing of this offering or the date which the company determines
not to conduct this offering. These loans will be repaid upon the closing of this offering out of the $1,400,000 of offering proceeds
not held in the trust account. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Immediate after this
Offering, assuming the over-allotment option is not exercised, an aggregate of 280,000 private placement units, at a price of $10.00
per unit for an aggregate purchase price of&nbsp;$2,800,000 in a private placement that will close simultaneously with the closing of
this Offering. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> In addition, if our sponsor
makes any working capital loans, up to $1,150,000 of such loans may be converted into units, at the price of $10.00 per unit at the option
of the lender. Such units would be identical to the private placement units. To the extent we issue Class&nbsp;A ordinary shares to effectuate
a business transaction, the potential for the issuance of a substantial number of additional Class&nbsp;A ordinary shares upon conversion
of these rights or conversion of these working capital loans into our securities could make us a less attractive acquisition vehicle
to a target business. Any such issuance will increase the number of issued and outstanding Class&nbsp;A ordinary shares and reduce the
value of the Class&nbsp;A ordinary shares issued to complete the business transaction. Therefore, our rights and founder shares may make
it more difficult to effectuate a business combination or increase the cost of acquiring the target business. See the Section&nbsp;entitled
 &ldquo;<B><I>Dilution</I></B>&rdquo; of this prospectus for additional information. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> We may reimburse our
insiders, officers, directors or any of their affiliates for out-of-pocket expenses incurred in connection with certain activities on
our behalf, such as identifying and investigating possible business targets and business combinations. There is no limit on the amount
of out-of-pocket expenses reimbursable by us provided that, to the extent such expenses exceed the available proceeds not deposited in
the trust account, such expenses would not be reimbursed by us unless we consummate an initial business combination. In the event that
we reimburse our insiders, officers, directors or any of their affiliates for out-of-pocket expenses prior to the consummation of a business
combination or are required to indemnify any of our officers or directors as required by law, we would use funds available to us outside
of the trust account for our working capital requirements. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> Our insiders, officers,
directors and their affiliates may incur out-of-pocket expenses in connection with certain activities on our behalf, such as identifying
and investigating possible business targets and combinations. We have no policy that would prohibit these individuals and their affiliates
from negotiating the reimbursement of such expenses by a target business. As a result, the personal and financial interests of such individuals
may influence their motivation in identifying and selecting a target business. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Chinese Laws and Regulations</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-align: justify; text-indent: 0.25in">As a British Virgin Islands
company with no material operations of our own, we conduct our operations through our principal executive office in Hong Kong and our
sponsor and its affiliate(s)&nbsp;as well as certain of our current executive officers and directors are located in or have significant
ties to the People&rsquo;s Republic of China and/or Hong Kong (collectively, the &ldquo;PRC&rdquo; or &ldquo;China&rdquo;). Because we
are based in Hong Kong, we face various legal and operational risks and uncertainties associated with doing business in China that are
described in further detail below. In addition, although we do not have any specific business combination under consideration and we
have not, directly or indirectly, contacted any prospective target business or had any substantive discussions, formal or otherwise,
with respect to such a transaction, we may pursue or consummate an initial business combination with a company located or doing business
in the PRC. If our target company is a PRC company, the combined company may face various legal and operational risks and uncertainties
after the business combination, including, without limitation, regulatory review of overseas listing of PRC companies, restrictions on
foreign ownership in certain industries, regulatory changes in the variable interest entity (the &ldquo;VIE&rdquo;) structure, including
the validity and enforcement of the agreements in connection with such a VIE structure, if our target company is required to use such
VIE structure. We are also subject to the risks of uncertainty about any future actions of the PRC government in this regard, or if our
PRC target company fails to comply with their rules&nbsp;and regulations. Further, if the PRC target company uses a VIE structure, we
will be subject to certain legal and operational risks associated with VIE&rsquo;s operations in the PRC. Specifically, if the Chinese
regulatory authorities disallows the VIE structure in the future, it will likely result in a material change in our financial performance
and our results of operations and/or the value of our securities post business combination with a PRC target, which could cause the value
of our securities to significantly decline or become 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"></P>

<!-- Field: Page; Sequence: 137; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->126<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">PRC laws and regulations
are sometimes vague and uncertain, and therefore, these risks may result in a material change in our operations or the combined company&rsquo;s
principal operations in China, significant depreciation of the value of our or the combined company&rsquo;s securities, or a complete
hindrance of our or the combined company&rsquo;s ability to offer securities to investors and cause the value of such securities to significantly
decline or be worthless. The PRC government has significant authority to exert influence on the ability of a China-based company to conduct
its business, make or accept foreign investments or list on a U.S. stock exchange. The PRC government has recently published new policies
that significantly affected certain industries such as the education and internet industries, and we cannot rule&nbsp;out the possibility
that it will in the future release regulations or policies regarding any industry that could adversely affect us or our potential business
combination with a PRC operating business and the business, financial condition, and results of operations of the combined company. The
PRC government also recently initiated a series of regulatory actions and statements to regulate business operations in China with little
advance notice, including cracking down on illegal activities in the securities market, adopting new measures to extend the scope of
cybersecurity reviews, and expanding the efforts in anti-monopoly enforcement. Since these statements and regulatory actions are new,
it is highly uncertain how soon legislative or administrative regulation making bodies will respond and what existing or new laws or
regulations or detailed implementations and interpretations will be modified or promulgated, if any, and the potential impact such modified
or new laws and regulations will have on us or the PRC target company&rsquo;s daily business operation, the ability to accept foreign
investments and list on an U.S. or other foreign exchange. For example, according to the New Measures for Cybersecurity Review (the &ldquo;New
Measures&rdquo;) effective on February&nbsp;15, 2022, network platform operators with personal information of more than one million users
must apply for cybersecurity review to the Cyber Security Review Office when they go public abroad, and accordingly these companies may
not be willing to list on a U.S. stock exchange or enter into a definitive business combination agreement with us. We currently face
risks associated with regulatory approvals of the proposed business combination between us and the target, offshore offerings, anti-monopoly
regulatory actions, and cybersecurity and data privacy. The PRC government may also intervene with or influence our or the combined company&rsquo;s
operations as the government deems appropriate to further regulatory, political and societal goals. Any such action, once taken by the
PRC government, could result in a material change in our operations, including our search for a target business, and make it more difficult
and costly for us to consummate a business combination with a target business operating in China, result in material changes in the combined
company&rsquo;s post-combination operations and cause the value of our securities or those of the combined company&rsquo;s securities
to significantly decline, or in extreme cases, become worthless or completely hinder our ability or the ability of the combined company
to offer or continue to offer securities to investors. For a detailed description of risks associated with acquiring a company that does
business in China, see &ldquo;<B><I>Risk Factors &mdash; Risks Associated with Acquiring and Operating a Business with its Primary Operation
in China</I></B>&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; text-align: justify; text-indent: 0.25in">If we consummate our initial
business combination with a PRC target company, we may operate in the PRC primarily through our PRC subsidiaries. We may also adopt a
series of contractual arrangements with the VIEs in the PRC, in which case (i)&nbsp;the VIEs will be PRC-based operations companies and
our PRC subsidiaries will be shell companies and (ii)&nbsp;investors in our securities will not and may never directly own equity interest
in the VIEs but will instead hold equity interest in a holding company of our PRC subsidiaries. Under the VIE arrangement, the dividends
or other distributions to be paid by our PRC subsidiaries to their overseas holding company will depend on such PRC subsidiaries&rsquo;
entitlement to substantially all of the economic benefits of the VIEs, which are typically in the form of services fees or license fees
payable by the VIEs to our PRC subsidiaries under various VIE agreements. Such contractual arrangements may not be as effective as direct
ownership in respect of our relationship with the VIE and we may be adversely affected if we experience difficulties in settling the
amounts owed to our PRC subsidiaries by the VIEs. All of these contractual arrangements may be governed by and interpreted in accordance
with PRC law, and disputes arising from these contractual arrangements may be resolved in court or through arbitration in China. However,
the legal environment in the PRC is not as developed as in some other jurisdictions, such as the United States. As a result, uncertainties
in the PRC legal system could limit our ability to enforce the contractual arrangements. As at the date of this prospectus, there are
very few precedents and little official guidance as to how contractual arrangements should be interpreted or enforced under PRC law.
The contractual arrangements have not been tested in a court of law in the PRC and there remain significant uncertainties regarding the
ultimate outcome of arbitration or court decisions should legal action become necessary. See &ldquo;<B><I>Risk Factors &mdash; Risks
Associated with Acquiring and Operating a Business with its Primary Operation in China &mdash; If the PRC government deems that the contractual
arrangements in relation to the potential PRC target company, and the VIE, do not comply with PRC regulatory restrictions on foreign
investment in the relevant industries, or if these regulations or the interpretation of existing regulations change in the future, we
could be subject to severe penalties or be forced to relinquish our interests in those operations</I></B>&rdquo; for further 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"></P>

<!-- Field: Page; Sequence: 138; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->127<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Currently,
we are a single entity and do not make any </FONT>internal cash transfers. However, if our organizational structure expands, or if we
acquire a PRC target company which does not require a VIE structure, we may transfer funds to the PRC target company through an increase
in the registered capital of or a shareholder loan to the PRC target company. The PRC target company may in turn make distributions or
pay dividends to us. If we acquire a PRC target company which requires a VIE structure, the post-combination entity may rely on payments
made from the VIE to a wholly foreign-owned enterprise (the &ldquo;WFOE&rdquo;) and subsequently the WFOE distributes funds to the post-combination
entity as dividends, and cash to the PRC target company could be transferred through our organization in the manner as follows: (i)&nbsp;the
holding company may transfer funds to WFOE, via additional capital contributions or shareholder loans, as the case may be; and (ii)&nbsp;the
WFOE may provide loans to the PRC target company, subject to statutory limits and restrictions. If our organizational structure expands,
or if we acquire a company based in China, to the extent that the combined company in the future seeks to fund the business through distributions,
dividends, or transfers of funds among and between the holding company and subsidiaries, any such transfer of funds within and among
the subsidiaries will be subject to PRC regulations. Specifically, investment in Chinese companies is governed by the PRC Foreign Investment
Law, the dividends and distributions from a PRC subsidiary are subject to regulations and restrictions on dividends and payments to parties
outside of China, and any transfer of funds among the PRC subsidiaries is subject to regulations on private lending and must be permitted
thereunder. Additionally, the PRC government may impose controls on the conversion of Renminbi into foreign currencies and the remittance
of currencies out of the PRC. In order for the combined company to pay dividends to its shareholders, the combined company will rely
on payments made from the PRC subsidiaries of the combined company and the distribution of such payments to the combined company as dividends
from the PRC subsidiaries of the combined company. The dividends and distributions from a PRC subsidiary will be subject to regulations
and restrictions on dividends and payments to parties outside of China and the combined company may experience difficulties in completing
the administrative procedures necessary to obtain and remit foreign currency for the payment of dividends from its subsidiaries, if any.
See &ldquo;<B><I>Risk Factors &mdash; Risks Associated with Acquiring and Operating a Business with its Primary Operation in China &mdash;
Governmental control of currency conversion may affect the value of your investment</I></B>&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: 139; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->128<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">Regardless of whether we
have a VIE structure or direct ownership structure post-business combination, we may depend on dividends and other distributions on equity
paid by our PRC subsidiaries for our cash and financing requirements. As at the date of this prospectus, we have not made any dividends
or distributions to our shareholders or any U.S. investors and we have not made any cash transfers as we are a blank check company with
no subsidiary. Due to (i)&nbsp;the risks of doing business in the PRC, and (ii)&nbsp;our sponsor and its affiliate(s)&nbsp;as well as
certain of our current executive officers and directors are located in or have significant ties to PRC , we may be a less attractive
partner to non-PRC based target companies as compared to a non-PRC based special purpose acquisition company (the &ldquo;SPAC&rdquo;)
which may therefore make it harder for us to complete an initial business combination with a target company that is non-PRC based and
which may therefore make it more likely for us to consummate a business combination with a target company located in the PRC . To date,
we have not pursued an initial business combination and there have not been any capital contribution or shareholder loans by us to any
PRC entities, we do not yet have any subsidiaries, and we have not received, declared or made any dividends or distributions. For a detailed
description of risks associated with acquiring a company that does business in China, see &ldquo;<B><I>Risk Factors &mdash; Risks Associated
with Acquiring and Operating a Business with its Primary Operation in China</I></B>&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; text-align: justify; text-indent: 0.25in">On February&nbsp;17, 2023,
the China Securities Regulatory Commission (the &ldquo;CSRC&rdquo;) promulgated the Trial Administrative Measures of Overseas Securities
Offering and Listing by Domestic Companies (the &ldquo;Trial Measures&rdquo;), which took effect on March&nbsp;31, 2023. The Trial Measures
supersede the prior rules&nbsp;and clarified and emphasized several aspects, which include but are not limited to: (1)&nbsp;comprehensive
determination of the &ldquo;indirect overseas offering and listing by PRC domestic companies&rdquo; in compliance with the principle
of &ldquo;substance over form&rdquo; and particularly, an issuer will be required to go through the filing procedures under the Trial
Measures if the following criteria are met at the same time: (a)&nbsp;50% or more of the issuer&rsquo;s operating revenue, total profit,
total assets or net assets as documented in its audited consolidated financial statements for the most recent accounting year comes from
PRC domestic companies, and (b)&nbsp;the main parts of the issuer&rsquo;s business activities are conducted in mainland China, or its
main places of business are located in mainland China, or the senior managers in charge of its business operation and management are
mostly Chinese citizens or domiciled in mainland China; (2)&nbsp;exemptions from immediate filing requirements for issuers that (a)&nbsp;have
already been listed or registered but not yet listed in foreign securities markets, including U.S. markets, prior to the effective date
of the Trial Measures, (b)&nbsp;are not required to re-perform the regulatory procedures with the relevant overseas regulatory authority
or the overseas stock exchange, and (c)&nbsp;whose such overseas securities offering or listing shall be completed before September&nbsp;30,
2023, provided however that such issuers shall carry out filing procedures as required if they conduct refinancing or are involved in
other circumstances that require filing with the CSRC; (3)&nbsp;a negative list of types of issuers banned from listing or offering overseas,
such as (a)&nbsp;issuers whose listing or offering overseas has been recognized by the State Council of the PRC as a possible threat
to national security, (b)&nbsp;issuers whose affiliates have been recently convicted of bribery and corruption, (c)&nbsp;issuers under
ongoing criminal investigations, and (d)&nbsp;issuers under major disputes regarding equity ownership; (4)&nbsp;issuers&rsquo; compliance
with web security, data security, and other national security laws and regulations; (5)&nbsp;issuers&rsquo; filing and reporting obligations,
such as the obligation to file with the CSRC after it submits an application for initial public offering to overseas regulators, and
the obligation after offering or listing overseas to report to the CSRC material events including a change of control or voluntary or
forced delisting of the issuer; and (6)&nbsp;the CSRC&rsquo;s authority to fine both issuers and their shareholders between 1 and 10
million RMB for failure to comply with the Trial Measures, including failure to comply with filing obligations or committing fraud and
misrepresentation.</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; text-indent: 0.25in">We believe we are not required
to obtain permissions or approvals from any PRC government authorities, including the CSRC or the Cyberspace Administration of China,
or any other government entity, to issue our securities to foreign investors and to list on a U.S. exchange or operate our business.
As of the date of this prospectus, we have not received any inquiry, notice, warning, sanctions or regulatory objection to this offering
from the CSRC or any other PRC governmental authorities. However, if we do not maintain applicable permissions or approvals, if we inadvertently
concluded that such permissions or approvals are not required, or applicable laws, regulations, or interpretations change and we are
required to obtain such permissions or approvals in the future, and we are denied permission and/or approvals, the relevant PRC government
agencies could subject us to a stringent approval process from the relevant government entities in connection with this offering, continued
listing on a U.S. exchange, the potential business combination, the issuance of shares or the maintenance of our status as a publicly
listed company outside China, and the post business combination entity&rsquo;s PRC operations if our business combination target is a
PRC target company. We may also be subject to registration with the CSRC following this offering pursuant to the Trial Measures. It is
uncertain when and whether we will be required to obtain permission from the PRC government to continue to list on a U.S. exchange in
the future and offer our securities to foreign investors. If we do not maintain applicable permissions or approvals, if we inadvertently
concluded that such permissions or approvals are not required, or applicable laws, regulations, or interpretations change and we are
required to obtain such permissions or approvals in the future, including pursuant to the Trial Measures, and we are denied permission
and/or approvals from Chinese authorities to list on U.S. exchanges or offer our securities to foreign investors, we may not be able
to continue listing on a U.S. exchange or be subject to other severe consequences, which would materially affect the interest of the
investors. In addition, any changes in PRC law, regulations, or interpretations may severely affect our operations after this offering.
The use of the term &ldquo;operate&rdquo; and &ldquo;operations&rdquo; includes the process of searching for a target business and conducting
related activities. To that extent, we may not be able to conduct the process of searching for a potential target company in China.</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: 140; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->129<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>Transfers of Cash to and from our Subsidiaries</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-align: justify; text-indent: 0.25in; background-color: white">We
have no operations of our own. To date, we have not pursued an initial business combination and there have not been any capital contributions
or shareholder loans by us to any PRC entities, we do not yet have any subsidiaries, and we have not received, declared or made any dividends
or distributions. Although we do not have any specific business combination under consideration and we have not (nor has anyone on our
behalf), directly or indirectly, contacted any prospective target business or had any substantive discussions, formal or otherwise, with
respect to such a transaction, our initial business combination target company may include a company based in the PRC. If our organizational
structure expands, or if we decide to consummate our initial business combination with a target business based in and primarily operating
in the PRC, the combined company, whose securities will be listed on a U.S. stock exchange, may make capital contributions or extend
loans to its PRC subsidiaries through intermediate holding companies subject to compliance with relevant PRC foreign exchange control
regulations.</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; text-indent: 0.25in; background-color: white">Our
company&rsquo;s ability to pay dividends, if any, to the shareholders and to service any debt it may incur will depend upon dividends
paid by its PRC subsidiaries. Under PRC laws and regulations, PRC companies are subject to certain restrictions with respect to paying
dividends or otherwise transferring any of their net assets to offshore entities. In particular, under the current PRC laws and regulations,
dividends may be paid only out of distributable profits. Distributable profits are the net profit as determined under Chinese accounting
standards and regulations, less any recovery of accumulated losses and appropriations to statutory and other reserves required to be
made.</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; text-indent: 0.25in">Current PRC regulations
permit a potential PRC target company&rsquo;s indirect PRC subsidiaries to pay dividends to an overseas subsidiary, for example, a subsidiary
located in Hong Kong, only out of their accumulated profits, if any, determined in accordance with Chinese accounting standards and regulations.
In addition, each of the target&rsquo;s subsidiaries in China is required to set aside at least 10% of its after-tax profits each year,
if any, to fund a statutory reserve until such reserve reaches 50% of its registered capital. As a result, PRC subsidiaries may not have
sufficient distributable profits to pay dividends to the combined company. Furthermore, each such entity in China is also required to
further set aside a portion of its after-tax profits to fund the employee welfare fund, although the amount to be set aside, if any,
is determined at the discretion of its board of directors. Although the statutory reserves can be used, among other ways, to increase
the registered capital and eliminate future losses in excess of retained earnings of the respective companies, the reserve funds are
not distributable as cash dividends except in the event of liquidation.</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; text-indent: 0.25in">The PRC government also
imposes controls on the conversion of the Renminbi (&ldquo;RMB&rdquo;), the legal currency of the PRC, into foreign currencies and the
remittance of currencies out of the PRC. Our initial business combination target may be a PRC company with substantially all of its revenues
in RMB. Shortages in the availability of foreign currency may restrict the ability of the PRC subsidiaries to remit sufficient foreign
currency to pay dividends or other payments to us, or otherwise satisfy their foreign currency denominated obligations. Under existing
PRC foreign exchange regulations, payments of current account items, including profit distributions, interest payments and expenditures
from trade-related transactions can be made in foreign currencies without prior approval from SAFE by complying with certain procedural
requirements. However, approval from appropriate government authorities is required where RMB is to be converted into foreign currency
and remitted out of China to pay capital expenses such as the repayment of loans denominated in foreign currencies. The PRC government
may also at its discretion restrict access in the future to foreign currencies for current account transactions. If the foreign exchange
control system prevents us from obtaining sufficient foreign currency to satisfy our currency demands post business combination, we may
not be able to pay dividends in foreign currencies to our security-holders. Furthermore, if our subsidiaries in the PRC incur debt on
their own in the future, the instruments governing the debt may restrict their ability to pay dividends or make other payments.</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; text-indent: 0.25in">Cash dividends, if any,
on our ordinary shares will be paid in U.S. dollars. If we are considered a PRC tax resident enterprise for tax purposes, any dividends
we pay to our overseas shareholders may be regarded as China-sourced income and, as a result, may be subject to PRC withholding tax at
a rate of up to 10.0%.</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; text-align: justify; text-indent: 0.25in">The PRC government may take
measures at its discretion from time to time to restrict access to foreign currencies for current account or capital account transactions.
If the foreign exchange control regulations prevent the PRC subsidiaries of the combined company from obtaining sufficient foreign currencies
to satisfy their foreign currency demands, the PRC subsidiaries of the combined company may not be able to pay dividends or repay loans
in foreign currencies to their offshore intermediary holding companies and ultimately to the combined company. We cannot assure you that
new regulations or policies will not be promulgated in the future, which may further restrict the remittance of RMB into or out of the
PRC. We cannot assure you, in light of the restrictions in place, or any amendment to be made from time to time, that the PRC subsidiaries
of the combined company will be able to satisfy their respective payment obligations that are denominated in foreign currencies, including
the remittance of dividends outside of the PRC.</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: 141; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->130<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>Initial Business Combination</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-align: justify; text-indent: 0.25in">NASDAQ rules&nbsp;require
that our initial business combination must be with one or more target businesses that together have an aggregate fair market value equal
to at least 80% of the balance in the trust account (less any taxes payable on interest earned and less any interest earned thereon that
is released to us for taxes) at the time of our signing a definitive agreement in connection with our initial business combination. If
our Board of Directors is not able to independently determine the fair market value of the target business or businesses, we will obtain
an opinion from an independent investment banking firm or another independent firm that commonly renders valuation opinions or from an
independent accounting firm. We do not intend to purchase multiple businesses in unrelated industries in conjunction 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; text-align: justify; text-indent: 0.25in"> We will have until 12
months from the closing of this offering to consummate an initial business combination. However, if we anticipate that we may not be
able to consummate our initial business combination within 12 months, we may extend the period of time to consummate a business combination
up to two times, each by an additional three months (for a total of up to 18 months to complete a business combination) without shareholder
approval. Pursuant to the terms of our amended and restated memorandum and articles of association and the trust agreement to be entered
into between us and Continental Stock Transfer&nbsp;&amp; Trust Company on the date of this prospectus, in order to extend the time available
for us to consummate our initial business combination, our sponsor or its affiliates or designees, upon two days advance notice prior
to the applicable deadline, must deposit into the trust account $550,000, or up to $632,500 if the underwriters over-allotment option
is exercised in full ($0.10 per share in either case) on or prior to the date of the applicable deadline, for each three month extension
(or up to an aggregate of $1,100,000 (or $1,265,000 if the underwriters over-allotment option is exercised in full), or $0.20 per share
if we extend for the full six months). Any such payments would be made in the form of a loan. Any such loans will be non-interest bearing
and payable upon the consummation of our initial business combination. If we complete our initial business combination, we would repay
such loaned amounts out of the proceeds of the trust account released to us. Up to $1,150,000 of such loans may be convertible into units
at a price of $10.00 per unit at the option of the lender. If we do not complete a business combination, we will not repay such loans.
Furthermore, the letter agreement with our initial shareholders contains a provision pursuant to which our sponsor has agreed to waive
its right to be repaid for such loans out of the funds held in the trust account in the event that we do not complete a business combination.
Our sponsor and its affiliates or designees are not obligated to fund the trust account to extend the time for us to complete 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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
we are unable to consummate an initial business combination within such time period, we will, as promptly as reasonably possible but
not more than ten business days thereafter, redeem 100% of the outstanding public shares, at a per-share price, payable in cash, equal
to the aggregate amount then on deposit in the trust account, including any interest earned on the funds held in the trust account (net
of interest that may be used by us to pay our taxes payable and less up to $</FONT>200,000 of interest to pay for dissolution expenses),
divided by the number of then outstanding public shares, which redemption will completely extinguish public shareholders&rsquo; rights
as shareholders (including the right to receive further liquidation distributions, if any), subject to applicable law and as further
described herein, and then seek to dissolve and liquidate. We expect the pro rata redemption price to be approximately $10.00 per public
share (regardless of whether or not the underwriters exercise their over-allotment option) (subject to increase of up to an additional
$0.20 per share in the event that our sponsor elects to extend the period of time to consummate a business combination by the full six
months), without taking into account any interest earned on such funds. However, we cannot assure you that we will in fact be able to
distribute such amounts as a result of claims of creditors which may take priority over the claims of our public shareholders.</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: 142; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->131<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
sponsor, officers, and directors have agreed that we will have only 12 months from the closing of this offering (or up to 18 months
from the closing of this offering if we extend the period of time to consummate a business combination by the full amount of time
without shareholder approval) to complete our initial business combination. If we are unable to complete our initial business
combination within such 12-month period (or up to 18 months from the closing of this offering if we extend the period of time to
consummate a business combination by the full amount of time), 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 (which
interest shall be net of taxes payable, and less up to $</FONT>200,000 of interest to pay dissolution expenses) divided by the
number of then outstanding public shares, which redemption will completely extinguish public shareholders&rsquo; rights as
shareholders (including the right to receive further liquidation 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 shareholders and
our Board of Directors, liquidate and dissolve, subject in each case to our obligations under British Virgin Islands 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 public rights, private placement units or private placement rights. The rights will expire
worthless if we fail to complete our initial business combination within the 12-month time period (or up to 18 months from the
closing of this offering if we extend the period of time to consummate a business combination by the full amount of time). However,
we may hold a shareholder vote at any time to amend our amended and restated memorandum and articles of association, to modify the
amount of time we will have to consummate an initial business combination (as well as to modify the substance or timing of our
obligation to redeem 100% of our public shares or with respect to any other material provisions relating to shareholders&rsquo;
rights or pre-initial business combination activity). </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; text-indent: 0.25in">We anticipate structuring
our initial business combination so that the post-transaction company in which our public shareholders own shares will own or acquire
100% of the equity interests or assets of the target business or businesses. We may, however, structure our initial business combination
such that the post-transaction company owns 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 shareholders or for other reasons, 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 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 shareholders prior to the business combination may collectively own a minority interest in the post-transaction
company, depending on valuations ascribed to the target and us in the business combination transaction. For example, we could pursue
a transaction in which we issue a substantial number of new shares in exchange for all of the outstanding capital stock of a target.
In this case, we would acquire a 100% controlling interest in the target. However, as a result of the issuance of a substantial number
of new shares, our shareholders immediately prior to our initial business combination could own less than a majority of our outstanding
shares subsequent to our initial business combination. If less than 100% of the equity interests or assets of a target business or businesses
are owned or acquired by the post-transaction company, the portion of such business or businesses that is owned or acquired is what will
be valued for purposes of the 80% of net assets test. If our initial business combination involves more than one target business, the
80% of net assets test will be based on the aggregate value of all of the 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; text-align: justify; text-indent: 0.25in">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&nbsp;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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Effecting our Initial Business Combination</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-align: justify"><B><I>General</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-align: justify; text-indent: 0.25in"> 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 units,
our shares, new debt, or a combination of these, as the consideration to be paid in our initial business combination. Although substantially
all of the net proceeds of this offering and the private placement of private placement units are intended to be applied generally toward
effecting a business combination as described in this prospectus, the proceeds are not otherwise being designated for any more specific
purposes. Accordingly, investors in this offering are investing without first having an opportunity to evaluate the specific merits or
risks of any one or more business combinations. Our initial business combination may involve the acquisition of, or merger with, a company
which does not need substantial additional capital but which desires to establish a public trading market for its shares. In the alternative,
we may seek to consummate a business combination with a company that may be in need of capital for development or growth. While we may
seek to effect simultaneous business combinations with more than one target business, we will probably have the ability to effect only
a single 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: 143; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->132<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">If our initial business
combination is paid for using shares or debt securities, or not all of the funds released from the trust account are used for payment
of the purchase price in connection with our business combination or used for redemptions of our ordinary shares, we may apply the cash
released to us from the trust account that is not applied to the purchase price for general corporate purposes, including for maintenance
or expansion of operations of acquired businesses, the payment of principal or interest due on indebtedness incurred in consummating
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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">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.</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; text-indent: 0.25in">In the case of an initial
business combination funded with assets other than the trust account assets, our tender offer documents or proxy materials disclosing
the business combination would disclose the terms of the financing and, only if required by law, we would seek shareholder 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We Have Not Identified a Target Business</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-align: justify; text-indent: 0.25in">We have not identified any
target business and we have not, nor has anyone on our behalf, initiated any discussions, directly or indirectly, to identify any acquisition
target. From the date of our formation through the date of this prospectus, there have been no communications or discussions between
any of our officers, directors or our sponsor and any of their contacts or relationships regarding a potential initial business combination
with our company. Additionally, we have not engaged or retained any agent or other representative to identify or locate any suitable
acquisition candidate, to conduct any research or take any measures, directly or indirectly, to locate or contact a target business.
Subject to the requirement that, so long as our securities are listed on Nasdaq, our initial business combination must be with one or
more target businesses or assets having an aggregate fair market value of at least 80% of the value of the trust account (less any taxes
payable on interest earned and less any interest earned thereon that is released to us for taxes) at the time of the agreement to enter
into such initial business combination, we have virtually unrestricted flexibility in identifying and selecting one or more prospective
target businesses. Accordingly, there is no current basis for investors in this offering to evaluate the possible merits or risks of
the target business with which we may ultimately complete our initial business combination. Although our management will assess the risks
inherent in a particular target business with which we may combine, this assessment may not result in our identifying all risks that
a target business may encounter. Furthermore, some of those risks may be outside of our control, meaning that we can do nothing 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; text-align: justify">We may seek to raise additional funds through
a private offering of debt or equity securities in connection with the consummation 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. Subject
to compliance with applicable securities laws, we would consummate such financing only simultaneously with the consummation of our business
combination. In the case of an initial business combination funded with assets other than the trust account assets, our tender offer
documents or proxy materials disclosing the business combination would disclose the terms of the financing and, only if required by law
or the rules&nbsp;of Nasdaq, we would seek shareholder 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Selection of a Target Business and Structuring
of a Business Combination</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-align: justify; text-indent: 0.25in">Subject to the requirement
that, so long as our securities are listed on Nasdaq, our initial business combination must be with one or more target businesses or
assets having an aggregate fair market value of at least 80% of the value of the trust account (less any taxes payable on interest earned
and less any interest earned thereon that is released to us for taxes) at the time of the agreement to enter into such initial business
combination, 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. In any case, we will only consummate an initial business combination in which we will not be required
to register as an investment company under the Investment Company Act. There is no basis for investors in this offering to evaluate the
possible merits or risks of any target business with which we may ultimately complete our initial business combination. Although our
management will endeavor to evaluate the risks inherent in a particular target business, we may not properly ascertain or assess all
significant risk factors.</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: 144; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->133<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">In evaluating a prospective
target business, we will conduct an extensive due diligence review which will encompass, among other things, meetings with incumbent
management and inspection of facilities, as well as review of financial and other information which is made available to us. This due
diligence review will be conducted either by our management or by unaffiliated third parties we may engage, although we have no current
intention to engage any such third parties.</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; text-indent: 0.25in">The time and costs required
to select and evaluate a target business and to structure and complete the business combination cannot presently be ascertained with
any degree of certainty. Any costs incurred with respect to the identification and evaluation of a prospective target business with which
a business combination is not ultimately completed will result in a loss to us and reduce the amount of capital available to otherwise
complete a 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; text-align: justify"><B>Limited Ability to Evaluate the Target Business&rsquo;
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; text-align: justify; text-indent: 0.25in">Although we intend to scrutinize
the management of a prospective target business when evaluating the desirability of effecting a business combination, we cannot assure
you that our assessment of the target business&rsquo; management will prove to be correct. In addition, we cannot assure you that the
future management will have the necessary skills, qualifications or abilities to manage a public company. Furthermore, the future role
of our officers and directors, if any, in the target business following a business combination cannot presently be stated with any certainty.
While it is possible that some of our key personnel will remain associated in senior management or advisory positions with us following
a business combination, it is unlikely that they will devote their full time efforts to our affairs subsequent to a business combination.
Moreover, they would only be able to remain with the company after the consummation of a business combination if they are able to negotiate
employment or consulting agreements in connection with the business combination. Such negotiations would take place simultaneously with
the negotiation of the business combination and could provide for them to receive compensation in the form of cash payments and/or our
securities for services they would render to the company after the consummation of the business combination. While the personal and financial
interests of our key personnel may influence their motivation in identifying and selecting a target business, their ability to remain
with the company after the consummation of a business combination will not be the determining factor in our decision as to whether or
not we will proceed with any potential business combination. Additionally, our officers and directors may not 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">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Following a 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 any such additional managers we do recruit 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">&nbsp;</P>

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

<!-- Field: Page; Sequence: 145; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->134<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B>Shareholders 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Although we may seek shareholder
approval before we effect our initial business combination, we may not do so for business or legal reasons (so long as such transaction
does not require shareholder approval under the Companies Act or the rules&nbsp;of Nasdaq). Presented in the table below is a graphic
explanation of the types of initial business combinations we may consider and whether we expect shareholder approval would be required
under the Companies Act for each such transaction.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="width: 83%; border-bottom: black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Type
    of Transaction</B></FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 16%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Whether<BR>
    Shareholder<BR>
    Approval is<BR>
    Required</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase of assets</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase of stock of target
    not involving a merger with the company</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Merger of target with a
    subsidiary of the company</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Merger of the company with
    a target</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Yes</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Entering into contractual
    agreements with a target to obtain control</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No</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; text-align: justify; text-indent: 0.25in">Additionally, under Nasdaq&rsquo;s
listing rules, shareholder 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">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">we issue ordinary
    shares that will be equal to or in excess of 20% of the number of ordinary shares then outstanding (other than in a public offering);</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">any of our
    directors, officers or substantial shareholders (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 ordinary shares could result in an increase in outstanding ordinary shares or voting power of 5% or more;
    or</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: 5.4pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the issuance
    or potential issuance of ordinary shares will result in our undergoing a change of control.</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; text-align: justify; text-indent: 0.25in"> We also may be required
to obtain shareholder approval if we wish to take certain actions in connection with our initial business combination such as amending
our amended and restated memorandum and articles of association. So long as we obtain and maintain a listing of 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Redemption rights for public shareholders
upon consummation of our initial business combination</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-align: justify; text-indent: 0.25in">We will provide our public
shareholders with the opportunity to redeem all or a portion their shares upon the consummation of our initial business combination at
a per-share&nbsp;price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest (net
of taxes payable), 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 share, whether or not the underwriters&rsquo; over-allotment&nbsp;option
is exercised in full. Our initial shareholders have agreed to waive their right to receive liquidating distributions if we fail to consummate
our initial business combination within the requisite time period. However, if our initial shareholders or any of our officers, directors
or affiliates acquires public shares in or after this offering, they will be entitled to receive liquidating distributions with respect
to such public shares if we fail to consummate our initial business combination within the required time 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; text-align: justify"><B>Manner of Conducting Redemptions</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-align: justify; text-indent: 0.25in">We will provide our public
shareholders 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 shareholder meeting called to approve the business combination (regardless of whether a shareholder
abstains, or votes for or against the proposed transaction) or (ii)&nbsp;by means of a tender offer.</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: 146; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->135<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">We intend to hold a shareholder
vote in connection with our business combination. In such case, we will:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-right: 5.4pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 97%; padding-right: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">file
    proxy materials with the SEC.</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; text-align: justify; text-indent: 0.25in">In the event that we seek
shareholder approval of our initial business combination, we will distribute proxy materials and, in connection therewith, provide our
public shareholders with the redemption rights described above upon consummation of the 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; text-align: justify; text-indent: 0.25in"> If we seek shareholder
approval, we will consummate our initial business combination only if a majority of the outstanding ordinary shares voted are voted in
favor of the business combination. In such case, Maxim (and its designees) and our initial shareholders have agreed (and their permitted
transferees will agree) to vote their founder shares, private placement shares, and Representative&rsquo;s Shares in favor of our initial
business combination. Each public shareholder may elect to redeem their public shares irrespective of whether they vote for or against
or abstain from voting on the proposed transaction. or whether they were a public shareholder on the record date for the shareholder
meeting held to approve the proposed transaction. In addition, our initial shareholder has agreed to waive their redemption rights with
respect to their founder shares and public shares in connection with the consummation 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; text-align: justify; text-indent: 0.25in">Notwithstanding the foregoing,
if we do not decide to hold a shareholder vote in conjunction with our initial business combination for business or other legal reasons
(so long as shareholder approval is not required by the Companies Act or the rules&nbsp;of Nasdaq), we will conduct redemptions pursuant
to the tender offer rules&nbsp;of the SEC and our amended and restated memorandum and articles of association. In such case, we will:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">offer to redeem
    our public shares pursuant to Rule&nbsp;13e-4&nbsp;and Regulation 14E of the Exchange Act, which regulate issuer tender offers, and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-right: 5.4pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 97%; padding-right: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">file
    tender offer documents with the SEC prior to consummating our initial business combination which will 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, and we will not be permitted to consummate our initial business
    combination until the expiration of the tender offer period.</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; text-align: justify; text-indent: 0.25in">In the event we conduct
redemptions pursuant to the tender offer rules, our offer to redeem shall remain open for at least 20 business days, in accordance with
Rule&nbsp;14e-1(a)&nbsp;under the Exchange Act.</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; text-indent: 0.25in">Certain minimum cash requirements
may be contained in the agreement relating to our initial business combination. For example, the proposed business combination may require:
(i)&nbsp;cash consideration to be paid to the target or members of its management team, (ii)&nbsp;cash to be transferred to the target
for working capital or other general corporate purposes or (iii)&nbsp;the allocation of cash to satisfy other conditions in accordance
with the terms of the proposed business combination. In the event the aggregate cash consideration we would be required to pay for all
shares that are validly tendered plus any amount required to satisfy cash conditions pursuant to the terms of the proposed business combination
exceed the aggregate amount of cash available to us, we will not consummate the business combination, we will not purchase any shares
pursuant to the tender offer and all shares will be returned to the holders thereof following the expiration of the tender offer.</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; text-indent: 0.25in">When we conduct a tender
offer to redeem our public shares upon consummation of our initial business combination, in order to comply with the tender offer rules,
the offer will be made to all of our shareholders, not just our public shareholders. Our initial shareholder has agreed to waive their
redemption rights with respect to their founder shares and public shares in connection with any such tender offer.</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: 147; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->136<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B>Permitted purchases of our securities by our
affiliates</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-align: justify; text-indent: 0.25in">If we seek shareholder approval
of our business combination and we do not conduct redemptions in connection with our business combination pursuant to the tender offer
rules, our directors, officers or their affiliates may purchase shares in privately negotiated transactions or in the open market either
prior to or following the consummation of our initial business combination. Such a purchase would include a contractual acknowledgement
that such shareholder, 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 or their affiliates purchase shares in privately
negotiated transactions from public shareholders who have already elected to exercise their redemption rights, such selling shareholders
would be required to revoke their prior elections to redeem their shares. It is intended that purchases will comply with Rule&nbsp;10b-18&nbsp;under
the Exchange Act, which provides a safe harbor for purchases made under certain conditions, including with respect to timing, pricing
and volume of purchases, and all other applicable rules&nbsp;and law, including Tender Offer Rules&nbsp;and Schedules Compliance and
Disclosure Interpretation 166.01.</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; text-indent: 0.25in">Any purchases by our sponsor,
officers, directors, advisors 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)&nbsp;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, advisors
and/or their affiliates will not make purchases of ordinary shares if the purchases would violate Section&nbsp;9(a)(2)&nbsp;or Rule&nbsp;10b-5
of the Exchange Act.</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; text-indent: 0.25in">The purpose of such purchases
could be 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 the business combination, where it appears that such requirement would otherwise not be met. This may result
in the consummation of an initial business combination that may not otherwise have been possible.</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; text-indent: 0.25in">As a consequence of any
such purchases, the public &ldquo;float&rdquo; of our ordinary shares may be reduced and the number of beneficial holders of our securities
may be reduced, which may make it difficult to maintain the listing or trading of our securities on a national securities exchange following
consummation of a 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; text-align: justify"><B>Tendering share certificates in connection
with a tender offer or redemption 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-align: justify; text-indent: 0.25in">We will require our public
shareholders 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 expiration date set forth in the tender offer documents mailed
to such holders, or in the event we distribute proxy materials, up to two business days prior to the vote on the proposal to approve
the business combination, 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. Accordingly, a public shareholder 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 business
combination if we distribute proxy materials, as applicable, to tender its shares if it wishes to seek to exercise its redemption rights.
Given the relatively short exercise period, it is advisable for shareholders to use electronic delivery of their public shares.</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; text-indent: 0.25in">There is a nominal cost
associated with the above-referenced&nbsp;tendering process and the act of certificating the shares or delivering them through the DWAC
System. The transfer agent will typically charge the tendering broker $45.00 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">&nbsp;</P>

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

<!-- Field: Page; Sequence: 148; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->137<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">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 shareholders&rsquo; vote on our initial business combination, and
a holder could simply vote against a proposed business combination and check a box on the proxy card indicating such holder was seeking
to exercise his redemption rights. After the business combination was approved, the company would contact such shareholder to arrange
for him to deliver his certificate to verify ownership. As a result, the shareholder then had an &ldquo;option window&rdquo; after the
consummation of the business combination during which he could monitor the price of the company&rsquo;s shares in the market. If the
price rose above the redemption price, he could sell his shares in the open market before actually delivering his shares to the company
for cancellation. As a result, the redemption rights, to which shareholders were aware they needed to commit before the shareholder meeting,
would become &ldquo;option&rdquo; rights surviving past the consummation of the business combination until the redeeming holder delivered
its certificate. The requirement for physical or electronic delivery at or prior to the meeting ensures that a redeeming holder&rsquo;s
election to redeem is irrevocable once the business combination is approved.</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; text-indent: 0.25in">Any request to redeem such
shares, once made, may be withdrawn at any time up to the date set forth in the tender offer materials or the date of the shareholder
meeting set forth in our proxy materials, as applicable. 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> If the initial business
combination is not approved or completed for any reason, then our public shareholders 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. Our public shareholders will be permitted to redeem
their shares regardless of whether they abstain, vote for, vote against, or vote at all with respect to the proposed 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; text-align: justify; text-indent: 0.25in">If our initial proposed
business combination is not consummated, we may continue to try to consummate our initial business combination with a different target
until 12 months from the closing of this offering, or up to 18 months if the sponsor extends the period of time.</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"><B>Redemption of public shares and liquidation
if no initial business combination</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-align: justify; text-indent: 0.25in"> Our sponsor, officers
and directors have agreed that we will complete our initial business combination within 12 months from the closing of this offering.
Our sponsor may decide to extend the period of time up to 18 months to consummate a business combination without shareholder approval.
We may not be able to find a suitable target business and consummate our initial business combination within such time period. If we
are unable to consummate our initial business combination within 12 months from the closing of this offering, or within up to 18 months
from the closing of this offering if our sponsor extends the period, we will, as promptly as reasonably possible but not more than ten
business days thereafter, distribute the aggregate amount then on deposit in the trust account (net of taxes payable, and less up to
$200,000 of interest to pay liquidation expenses), pro rata to our public shareholders by way of redemption and cease all operations
except for the purposes of winding up of our affairs. This redemption of public shareholders from the trust account shall be effected
as required by function of our amended and restated memorandum and articles of association and prior to any voluntary winding up, although
at all times subject to the Companies Act. </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; text-indent: 0.25in">Following the redemption
of public shares, we intend to enter &ldquo;<I>voluntary liquidation</I>&rdquo; which is the statutory process for formally closing and
dissolving a company under the laws of the British Virgin Islands. Given that we intend to enter voluntary liquidation following the
redemption of public shareholders from the trust account, we do not expect that the voluntary liquidation process will cause any delay
to the payment of redemption proceeds from our trust account. In connection with such a voluntary liquidation, the liquidator would give
notice to creditors inviting them to submit their claims for payment, by notifying known creditors (if any) who have not submitted claims
and by placing a public advertisement in at least one newspaper published in the British Virgin Islands newspaper and in at least one
newspaper circulating in the location where the company has its principal place of business, and taking any other steps he considers
appropriate to identify the company&rsquo;s creditors, after which our remaining assets would be distributed. As soon as the affairs
of the company are fully wound-up, the liquidator must complete his statement of account and file notice with the Registrar that the
liquidation is complete. We would be dissolved once the Registrar issues a Certificate of Dissolution.</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; text-indent: 0.25in">Our initial shareholder
has agreed to waive their redemption rights with respect to their founder shares if we fail to consummate our initial business combination
within the applicable period from the closing of 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"></P>

<!-- Field: Page; Sequence: 149; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->138<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in"> However, if our initial
shareholder, or any of our officers, directors or affiliates acquire public shares in or after this offering, they will be entitled to
redemption rights with respect to such public shares if we fail to consummate our initial business combination within the required time
period. There will be no redemption rights or liquidating distributions with respect to our private placement units, which will expire
worthless in the event we do not consummate our initial business combination within 12 months of the closing of this offering, or within
up to 18 months from the closing of this offering if our sponsor extends the period. We will pay the costs of our liquidation from our
remaining assets outside of the trust account or interest earned on the funds held in the trust account. However, the liquidator may
determine that he or she requires additional time to evaluate creditors&rsquo; claims (particularly if there is uncertainty over the
validity or extent of the claims of any creditors). Also, a creditor or shareholder may file a petition with the BVI court which, if
successful, may result in our liquidation being subject to the supervision of that court. Such events might delay distribution of some
or all of our remaining assets. </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; text-indent: 0.25in">Additionally, in any liquidation
proceedings of the company under British Virgin Islands law, the funds held in our trust account may be included in our estate and subject
to the claims of third parties with priority over the claims of our shareholders. To the extent any such claims deplete the trust account
we may not be able to return to our public shareholders the liquidation amounts payable to them.</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; text-indent: 0.25in"> If we were to expend
all of the net proceeds of this offering, other than the proceeds deposited in the trust account, and without taking into account interest,
if any, earned on the trust account, the per-share&nbsp;redemption amount received by shareholders upon our dissolution would be approximately
$10.00 (whether or not the underwriters&rsquo; over-allotment&nbsp;option is exercised in full). 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
shareholders. The actual per-share&nbsp;redemption amount received by shareholders may be less than $10.00, plus interest (net of taxes
payable, and less up to $200,000 of interest to pay liquidation 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; text-align: justify; text-indent: 0.25in">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
shareholders, 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. In addition, there is no guarantee that such entities will agree to
waive any claims they may have in the future as a result of, or arising out of, any negotiations, contracts or agreements with us and
will not seek recourse against the trust account for any reason. In order to protect the amounts held in the trust account, our sponsor
agreed that it will be liable to us, if and to the extent any claims by a vendor for services rendered or products sold to us, or a prospective
target business with which we have discussed entering into a transaction agreement, reduce the amounts in the trust account to below
$10.00 per share (whether or not the underwriters&rsquo; over-allotment&nbsp;option is exercised in full), except as to any claims by
a third party who executed a waiver of any and all rights to seek access to the trust account and except as to any claims under our indemnity
of the underwriters of this offering against certain liabilities, including liabilities under the Securities Act. In the event that an
executed waiver is deemed to be unenforceable against a third party, our sponsor will not be responsible to the extent of any liability
for such third-party claims. However, our sponsor may not be able to satisfy those obligations. Other than as described above, none of
our other officers or directors will indemnify us for claims by third parties including, without limitation, claims by vendors and prospective
target businesses. We have not independently verified whether our sponsor has sufficient funds to satisfy his indemnity obligations and
believe that our sponsor&rsquo;s only assets are securities of our company. We believe the likelihood of our sponsor having to indemnify
the trust account is limited because we will endeavor to have all vendors and prospective target businesses as well as other entities
execute agreements with us waiving any right, title, interest or claim of any kind in or to monies held in the trust account.</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: 150; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->139<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">In the event that the proceeds
in the trust account are reduced below $10.00 per share (whether or not the underwriters&rsquo; over-allotment&nbsp;option is exercised
in full) and our sponsor asserts that it is unable to satisfy any applicable obligations or that it has no indemnification obligations
related to a particular claim, our independent directors would determine whether to take legal action against our sponsor to enforce
its indemnification obligations. While we currently expect that our independent directors would take legal action on our behalf against
our sponsor to enforce its indemnification obligations to us, it is possible that our independent directors in exercising their business
judgment may choose not to do so in any particular instance. Accordingly, due to claims of creditors, the actual value of the per-share&nbsp;redemption
price may be less than $10.00 per share (whether or not the underwriters&rsquo; over-allotment&nbsp;option is exercised in full).</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; text-indent: 0.25in">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 $1,400,000 not placed in the trust 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, shareholders 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 $850,000, we may fund such excess with funds from the estimated $1,400,000 not to be held in the trust account. In such case, the
amount of funds we intend to hold outside the trust account would decrease by a corresponding amount. Conversely, in the event that the
offering expenses are less than our estimate of $850,000 the amount of funds we intend to hold outside the trust account would increase
by a corresponding amount.</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; text-indent: 0.25in">If we are deemed insolvent
for the purposes of the Insolvency Act (i.e. (i)&nbsp;we fail to comply with the requirements of a statutory demand that has not been
set aside under section 157 of the Insolvency Act; (ii)&nbsp;execution or other process issued on a judgment, decree or order of a British
Virgin Islands Court in favor of a creditor of the company is returned wholly or partly unsatisfied; or (iii)&nbsp;either the value of
the company&rsquo;s liabilities exceeds its assets, or the company is unable to pay its debts as they fall due), then there are very
limited circumstances where prior payments made to shareholders or other parties may be deemed to be a &ldquo;voidable transaction&rdquo;
for the purposes of the Insolvency Act. A voidable transaction would include, for these purposes, payments made as &ldquo;unfair preferences&rdquo;
or &ldquo;transactions at an undervalue&rdquo;. A liquidator appointed over an insolvent company who considers that a particular transaction
or payment is a voidable transaction under the Insolvency Act could apply to the British Virgin Islands Courts for an order setting aside
that payment or transaction in whole or in part.</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; text-indent: 0.25in">Additionally, if we enter
insolvent liquidation under the Insolvency Act, the funds held in our trust account will likely be included in our estate and subject
to the claims of third parties with priority over the claims of our shareholders. To the extent any insolvency claims deplete the trust
account you may not be able to return to our public shareholders the liquidation amounts due them.</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; text-indent: 0.25in"> Our public shareholders
will be entitled to receive funds from the trust account only (i)&nbsp;in the event of a redemption of the public shares prior to any
winding up in the event we do not consummate our initial business combination within 12 months of the closing of the offering, or within
up to 18 months from the closing of this offering if our sponsor extends the period, (ii)&nbsp;if they redeem their shares in connection
with an initial business combination that we consummate or (iii)&nbsp;if they redeem their shares in connection with a shareholder vote
to amend our amended and restated memorandum and articles of association (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 12 months from the closing of this
offering, or within up to 18 months from the closing of this offering if our sponsor extends the period, or (B)&nbsp;with respect to
any other provision relating to shareholders&rsquo; rights or pre-business&nbsp;combination activity. In no other circumstances shall
a shareholder have any right or interest of any kind to or in the trust account. In the event we seek shareholder approval in connection
with our initial business combination, a shareholder&rsquo;s voting in connection with the business combination alone will not result
in a shareholder&rsquo;s redeeming its shares to us for an applicable pro rata share of the trust account. Such shareholder must have
also exercised its redemption rights described above. </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: 151; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->140<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>Competition</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-align: justify; text-indent: 0.25in"> In identifying, evaluating
and selecting a target business, we may encounter intense competition from other entities having a business objective similar to ours.
Many of these entities are well established and have extensive experience identifying and effecting business combinations directly or
through affiliates. Many of these competitors possess greater technical, human and other resources than us and our financial resources
will be relatively limited when contrasted with those of many of these competitors. While we believe there may be numerous potential
target businesses that we could complete a business combination with utilizing the net proceeds of this offering, our ability to compete
in completing a business combination with certain sizable target businesses may be limited by our available financial resources. Furthermore,
the requirement that, so long as our securities are listed on Nasdaq, we acquire a target business or businesses having a fair market
value equal to at least 80% of the value of the trust account (less any taxes payable on interest earned and less any interest earned
thereon that is released to us for taxes) at the time of the agreement to enter into the business combination, our obligation to pay
cash in connection with our public shareholders who exercise their redemption rights, and our outstanding private placement units and
the potential future dilution they represent, may not be viewed favorably by certain target businesses. Any of these factors may place
us at a competitive disadvantage in successfully negotiating 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; text-align: justify"><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-align: justify; text-indent: 0.25in">We believe our structure
will make us an attractive business combination partner to target businesses. As an existing public company, we offer a target business
an alternative to the traditional initial public offering through a merger or other business combination. In this situation, the owners
of the target business would exchange their shares of stock in the target business for our shares or for a combination of our shares
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 certain and cost-effective method to
becoming a public company than the typical initial public offering. In a typical initial public offering, there are additional expenses
incurred in marketing, road show and public reporting efforts that may not be present to the same extent in connection with a 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; text-align: justify; text-indent: 0.25in">Furthermore, once a proposed
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. Once public, we believe the target business would then have greater access to capital and an additional
means of providing management incentives consistent with shareholders&rsquo; interests. It 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">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
have a negative view of us since we are a blank check company, without an operating history, and there is uncertainty relating to our
ability to obtain shareholder approval of our proposed initial business combination and retain sufficient funds in our trust account
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; text-align: justify; text-indent: 0.25in">We are an &ldquo;emerging
growth company,&rdquo; as defined in the JOBS Act. 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 $1.235 billion, or (c)&nbsp;in which we are deemed to be a large accelerated filer, which means the market
value of our ordinary shares that is held by non-affiliates exceeds $700 million as of the prior December&nbsp;31, 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; text-align: justify"><B>Financial Position</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-align: justify; text-indent: 0.25in">With funds available for
a business combination initially in the amount of $55,000,000 assuming no redemptions (or, assuming the over-allotment option is exercised
in full, $63,250,000 assuming no redemptions ), 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 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">&nbsp;</P>

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

<!-- Field: Page; Sequence: 152; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->141<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B>Limitation on redemption upon completion of
our initial business combination if we seek shareholder approval</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-align: justify; text-indent: 0.25in"> Notwithstanding the foregoing,
if we seek shareholder 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 memorandum and articles of association will provide
that a public shareholder, together with any affiliate of such shareholder or any other person with whom such shareholder 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, without the consent of the directors, with respect to Excess Shares. We believe this restriction will discourage shareholders
from accumulating large blocks of shares, and subsequent attempts by such holders to use their ability to exercise their redemption rights
against a proposed business combination as a means to force us or our sponsor or its affiliates to purchase their shares at a significant
premium to the then-current market price or on other undesirable terms. Absent this provision, a public shareholder holding more than
an aggregate of 15% 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 sponsor or its affiliates at a premium to the then-current market price or on other undesirable terms.
By limiting our shareholders&rsquo; ability to redeem no more than 15% of the shares sold in this offering, we believe we will limit
the ability of a small group of shareholders to unreasonably attempt to block our ability to complete our initial business combination,
particularly in connection with a 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 shareholders&rsquo; ability to vote all of their shares (including
Excess Shares) for or against or abstain from voting on our initial business combination. Maxim (and its designees), our sponsor, officers
and directors have, pursuant to a letter agreement entered into with us and waived their right to have any founder shares, Representative&rsquo;s
Shares or public shares held by them redeemed in connection with our initial business combination. Unless any of our other affiliates
acquires founder shares through a permitted transfer from an initial shareholder, and thereby becomes subject to the letter agreement,
no such affiliate is subject to this waiver. However, to the extent any such affiliate acquires public shares in this offering or thereafter
through open market purchases, it would be a public shareholder and restricted from seeking redemption rights with respect to any Excess
Shares. </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>Amended and Restated Memorandum and Articles of Association</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-align: justify; text-indent: 0.25in"> Our amended and
restated memorandum and articles of association will contain certain requirements and restrictions relating to this offering that
will apply to us until the consummation of our initial business combination. If we seek to amend any provisions of our amended and
restated memorandum and articles of association relating to shareholders&rsquo; rights or pre-business combination activity, we will
provide dissenting public shareholders with the opportunity to redeem their public shares in connection with any such vote. Maxim
(and its designees), our sponsor, officers and directors have agreed to waive any redemption rights with respect to their founder
shares, private placement shares and Representative&rsquo;s Shares in connection with the completion of our initial business
combination. Specifically, our amended and restated memorandum and articles of association will provide, among other things,
that: </P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%"> &nbsp; </TD>
    <TD STYLE="width: 3%"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD>
    <TD STYLE="width: 94%; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">prior to
    the consummation of our initial business combination, we shall either (1)&nbsp;seek shareholder approval of our initial business
    combination at a meeting called for such purpose at which shareholders may seek to redeem their shares, regardless of whether they
    vote for or against or abstain from voting on the proposed business combination, into their pro rata share of the aggregate amount
    then on deposit in the trust account, including interest (which interest shall be net of taxes payable) or (2)&nbsp;provide our public
    shareholders with the opportunity to tender their shares to us by means of a tender offer (and thereby avoid the need for a shareholder
    vote) for an amount equal to their pro rata share of the aggregate amount then on deposit in the trust account, including interest
    (which interest shall be net of taxes payable) in each case subject to the limitations described herein;</FONT> </TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%"> &nbsp; </TD>
    <TD STYLE="width: 3%"> <FONT STYLE="font-family: Symbol">&middot;</FONT> </TD>
    <TD STYLE="width: 94%; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">if our initial
    business combination is not consummated within 12 months from the closing of this offering (or up to 18 months from the closing of
    this offering if we extend the period of time to consummate a business combination by the full amount of time without shareholder
    approval), then our existence will terminate and we will distribute all amounts in the trust account; and</FONT> </TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 94%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">prior to our
    initial business combination, we may not issue additional ordinary shares that would entitle the holders thereof to (i)&nbsp;receive
    funds from the trust account or (ii)&nbsp;vote on any initial business combination.</FONT></TD></TR>
  </TABLE>

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

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

<!-- Field: Page; Sequence: 153; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->142<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0; margin-bottom: 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; text-align: justify; text-indent: 0.25in">These provisions cannot
be amended without the approval of holders of at least a majority of our outstanding ordinary shares attending and voting on such amendment.
In the event we seek shareholder approval in connection with our initial business combination, our amended and restated memorandum and
articles of association will provide that we may consummate our initial business combination only if approved by a majority of the ordinary
shares voted by our shareholders at a duly held shareholders meeting.</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>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-align: justify; text-indent: 0.25in">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">&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: 30%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #333333 1pt solid; width: 37%; 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="width: 2%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #333333 1pt solid; width: 30%; 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><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Escrow of offering proceeds</B></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NASDAQ rules&nbsp;provide
    that at least 90% of the gross proceeds from this offering and the private placement be deposited in a trust account. $55,000,000
    of the net proceeds of this offering and the sale of the private placement units will be deposited into a trust account located in
    the United States with Continental Stock Transfer&nbsp;&amp; Trust Company acting as trustee.</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Approximately $48,240,000
    of the offering proceeds, representing the gross proceeds of this offering less allowable underwriting commissions, expenses and
    company deductions under Rule&nbsp;419, would be required to be deposited into either an escrow account with an insured depositary
    institution or in a separate bank account established by a broker-dealer in which the broker-dealer acts as trustee for persons having
    the beneficial interests in the account.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Investment of net proceeds</B></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$55,000,000 of the net
    offering proceeds and the sale of the private placement units 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&nbsp;2a-7 under the Investment
    Company Act which invest only in direct U.S. government treasury obligations.</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><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 U.S.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Receipt
    of interest on escrowed funds</B></FONT> </TD>
    <TD> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest on proceeds
    from the trust account to be paid to shareholders 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 $200,000 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> <FONT STYLE="font-size: 10pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: justify"> <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>
</TABLE>

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

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



<!-- Field: Page; Sequence: 154; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->143<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>
        <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; width: 37%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; width: 30%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #333333 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Terms
    of Our Offering</B></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #333333 1pt solid; 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="text-indent: -0.125in; padding-left: 0.125in"><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><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NASDAQ rules&nbsp;require
    that our initial business combination must be with one or more target businesses that together have an aggregate fair market value
    equal to at least 80% of the balance in the trust account (less any taxes payable on interest earned and less any interest earned
    thereon that is released to us for taxes) at the time of our signing a definitive agreement in connection with our initial business
    combination.</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><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>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Trading of securities issued</B></FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><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. The Class&nbsp;A ordinary shares and rights comprising the units will begin separate
    trading on the 52<SUP>nd</SUP>&nbsp;day following the date of this prospectus unless Maxim 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. 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>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No trading of the units
    or the underlying securities 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>
  </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: 155; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->144<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>

<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: 30%"> <FONT STYLE="font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="width: 1%"> <FONT STYLE="font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: #333333 1pt solid; width: 37%; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt"><B>Terms
    of Our Offering</B></FONT> </TD>
    <TD STYLE="width: 2%"> <FONT STYLE="font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="border-bottom: #333333 1pt solid; width: 30%; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt"><B>Terms
    Under a Rule&nbsp;419 Offering</B></FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt"><B>Election to remain an investor</B></FONT> </TD>
    <TD> <FONT STYLE="font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">We will provide our public
    shareholders 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, which interest shall be net of taxes payable, upon the completion of our initial business combination, subject to the limitations
    described herein. We may not be required by law to hold a shareholder vote. If we are not required by law and do not otherwise decide
    to hold a shareholder vote, we will, pursuant to our amended and restated memorandum and articles of association, conduct the redemptions
    pursuant to the tender offer rules&nbsp;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. If, however, we hold a shareholder vote, we will, like many blank check companies, offer to redeem shares
    in conjunction with a proxy solicitation pursuant to the proxy rules&nbsp;and not pursuant to the tender offer rules. Pursuant to
    the tender offer rules, the tender offer period will be not less than 20 business days and, in the case of a shareholder vote, a
    final proxy statement would be mailed to public shareholders at least 20 calendar days prior to the shareholder vote. However, we
    expect that a draft proxy statement would be made available to such shareholders well in advance of such time, providing additional
    notice of redemption if we conduct redemptions in conjunction with a proxy solicitation. If we seek shareholder approval, we will
    complete our initial business combination only if a majority of the issued and outstanding ordinary shares voted are voted in favor
    of the business combination.</FONT> </TD>
    <TD> <FONT STYLE="font-size: 9pt">&nbsp;</FONT> </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">A prospectus containing
    information pertaining to the business combination required by the SEC would be sent to each investor. Each investor would be given
    the opportunity to notify the company in writing, within a period of no less than 20 business days and no more than 45 business days
    from the effective date of a post-effective amendment to the company&rsquo;s registration statement, to decide if he, she or it elects
    to remain a shareholder of the company or require the return of his, her or its investment. If the company has not received the notification
    by the end of the 45<SUP>th</SUP>business day, funds and interest or dividends, if any, held in the trust or escrow account are automatically
    returned to the shareholder. Unless a sufficient number of investors elect to remain investors, all funds on deposit in the escrow
    account must be returned to all of the investors and none of the securities are issued.</FONT> </TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 30%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 38%; border-bottom: #333333 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; 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="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 30%; border-bottom: #333333 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; 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>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additionally, each public
    shareholder may elect to redeem their public shares irrespective of whether they vote for or against or abstain from voting on the
    proposed transaction. or whether they were a public shareholder on the record date for the shareholder meeting held to approve the
    proposed transaction.</FONT> </TD>
    <TD>&nbsp;</TD>
    <TD> &nbsp; </TD></TR>
</TABLE>

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

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

<!-- Field: Page; Sequence: 156; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->145<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt; width: 30%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Business
    combination deadline</B></FONT> </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="text-align: justify; width: 37%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If we are
    unable to complete an initial business combination within 12 months from the closing of this offering (or up to 18 months from the
    closing of this offering if we extend the period of time to consummate a business combination by the full amount of time without
    shareholder approval), 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 (which interest shall be net of taxes payable
    and less up to $200,000 of interest to pay dissolution expenses) divided by the number of then outstanding public shares, which redemption
    will completely extinguish public shareholders&rsquo; rights as shareholders (including the right to receive further liquidation
    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 shareholders and our Board of Directors, liquidate and dissolve, subject in each case to our obligations
    under British Virgin Islands law to provide for claims of creditors and the requirements of other applicable law.</FONT> </TD>
    <TD STYLE="width: 2%"> &nbsp; </TD>
    <TD STYLE="text-align: justify; width: 30%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If an acquisition
    has not been completed within 18 months after the effective date of the company&rsquo;s registration statement, funds held in the
    trust or escrow account are returned to investors.</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"></P>

<!-- Field: Page; Sequence: 157; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->146<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%"> &nbsp; </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 37%; 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="width: 2%"> &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>Terms
    Under a Rule&nbsp;419 Offering</B></FONT> </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Release of funds</B></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <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 taxes, if any, the proceeds from
    this offering will not be released from the trust account until the earliest of (i)&nbsp;the completion of our initial business combination,
    (ii)&nbsp;the redemption of any public shares properly tendered in connection with a shareholder vote to amend and restate our memorandum
    and articles of association to (A)&nbsp;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 12 months from the closing of this offering (or up to 18 months from the
    closing of this offering if we extend the period of time to consummate a business combination by the full amount of time without
    shareholder approval) or (B)&nbsp;with respect to any other provision relating to shareholders&rsquo; rights or pre-business combination
    activity and (iii)&nbsp;the redemption of all of our public shares if we are unable to complete our initial business combination
    within 12 months from the closing of this offering (or up to 18 months from the closing of this offering if we extend the period
    of time to consummate a business combination by the full amount of time), subject to applicable law. The Company will instruct the
    Trustee to pay amounts from the trust account directly to redeeming holders.</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <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>
  <TR STYLE="vertical-align: top">
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: justify"> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: justify"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Limitation
    on redemption rights of shareholders holding more than 15% of the shares sold in this offering if we hold a shareholder vote</B></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If we seek shareholder
    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 memorandum and articles of association will provide that a public shareholder,
    together with any affiliate of such shareholder or any other person with whom such shareholder 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, without the consent of
    the directors, with respect Excess Shares (more than an aggregate of 15% of the shares sold in this offering). Our public shareholders&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 Excess Shares in open market transactions.</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Most blank check companies
    provide no restrictions on the ability of shareholders to redeem shares based on the number of shares held by such shareholders in
    connection with an initial business combination.</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"></P>

<!-- Field: Page; Sequence: 158; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->147<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 37%; 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="width: 2%">&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>Terms
    Under a Rule&nbsp;419 Offering</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Tendering
    share certificates in connection with a tender offer or redemption rights</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We may require our public
    shareholders 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 (if any) to our transfer agent prior to the date set forth in the tender offer documents or proxy
    materials mailed to such holders, or up to two business days prior to the vote on the proposal to approve the 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 (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 shareholders to satisfy such delivery requirements. Accordingly, a public shareholder 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 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>&nbsp;</TD>
    <TD STYLE="text-align: justify"><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 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 shareholders 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">&nbsp;</P>

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

<!-- Field: Page; Sequence: 159; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->148<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B>Competition</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-align: justify; text-indent: 0.25in">In identifying, evaluating
and selecting a target business for our initial business combination, we may encounter intense 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 acquisitions. 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 us. 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 acquisition of a target business. Furthermore, our obligation to pay
cash in connection with our public shareholders who exercise their redemption rights may reduce the resources available to us for our
initial business combination, and our outstanding rights 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: 160; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->149<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B>Conflicts of Interest</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-align: justify; text-indent: 0.25in"> Our directors and officers
are also not required to commit any specified amount of time to our affairs, and, accordingly, will have conflicts of interest in allocating
management time among various business activities, including identifying potential business combinations and monitoring the related due
diligence. Furthermore, our sponsor and its affiliate(s), and each of our officers and directors presently have, and in the future any
of our sponsor and its affiliate(s), our directors and our officers may have additional, fiduciary or contractual obligations to other
entities pursuant to which such sponsor, affiliate(s), officer or director is or will be required to present acquisition opportunities
to such entity. Accordingly, subject to his or her fiduciary duties under British Virgin Islands law, if any of our officers or directors
becomes aware of an acquisition opportunity which is suitable for an entity to which he or she has then current fiduciary or contractual
obligations, he or she will need to honor his or her fiduciary or contractual obligations to present such acquisition opportunity to
such entity, and only present it to us if such entity rejects the opportunity. Our amended and restated memorandum and articles of association
will provide that, subject to his or her fiduciary duties under British Virgin Islands law, we renounce our interest or expectancy in
any corporate opportunity offered to any officer or director 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 complete
on a reasonable basis. We do not believe, however, that any fiduciary duties or contractual obligations of our directors or officers
would materially undermine our ability to complete our 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; text-align: justify"><B>Indemnity</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-align: justify; text-indent: 0.25in">Our sponsor has agreed that
it will be liable to us if and to the extent any claims by a vendor for services rendered or products sold to us, or a prospective target
business with which we have discussed entering into a transaction agreement, reduce the amount of funds in the trust account to below
(i)&nbsp;$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 the value of the trust assets, in each case net of the interest which may be withdrawn to pay
taxes, except as to any claims by a third party who executed a waiver of any and all rights to seek access to the trust account and except
as to any claims under our indemnity of the underwriters of this offering against certain liabilities, including liabilities under the
Securities Act. Moreover, in the event that an executed waiver is deemed to be unenforceable against a third party, our sponsor will
not be responsible to the extent of any liability for such third-party claims. We have not independently verified whether our sponsor
has sufficient funds to satisfy their indemnity obligations and believe that our sponsor&rsquo;s only assets are securities of our company.
We have not asked our sponsor to reserve for such obligations.</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"><B>Facilities</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-align: justify; text-indent: 0.25in">We currently maintain our
executive offices at The Sun&rsquo;s Group Center, 29th Floor, 200 Gloucester Road,, Wan Chai, Hong Kong. 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; text-align: justify"><B>Employees</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-align: justify; text-indent: 0.25in">As of the effective date
of this prospectus, we will have 1 officer. Members of our management team 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 that our officers or any other members of our management team will devote in any time period
will vary based on whether a target business has been selected for our initial business combination and the current stage of the business
combination process.</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"><B>Periodic Reporting and Financial Information</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-align: justify; text-indent: 0.25in">We will register our units,
Class&nbsp;A ordinary shares and rights under the Exchange Act and have reporting obligations, including the requirement that we file
annual, quarterly and current reports with the SEC. In accordance with the requirements of the Exchange Act, our annual reports will
contain financial statements audited and reported on by our independent registered public auditors.</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; text-indent: 0.25in">We will provide shareholders
with audited financial statements of the prospective target business as part of the tender offer materials or proxy solicitation materials
sent to shareholders to assist them in assessing the target business. These financial statements may be required to be prepared in accordance
with, or be reconciled to, U.S. GAAP, or IFRS, depending on the circumstances and the historical financial statements may be required
to be audited in accordance with the 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 statements in time for us to disclose such statements in accordance
with federal proxy rules&nbsp;and complete our initial business combination within the prescribed time frame. While this may limit the
pool of potential acquisition candidates, we do not believe that this limitation will be material.</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: 161; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->150<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">We will be required to evaluate
our internal control procedures for the fiscal year ending December&nbsp;31, 2025 as required by the Sarbanes-Oxley Act. Only in the
event we are deemed to be a large accelerated filer or an accelerated filer 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 acquisition.</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; text-indent: 0.25in">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&nbsp;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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">We are an &ldquo;emerging
growth company,&rdquo; as defined in Section&nbsp;2(a)&nbsp;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 auditor 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 shareholder
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">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">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 $1.235 billion, or (c)&nbsp;in which we are deemed
to be a large accelerated filer, which means the market value of our ordinary shares that is held by non-affiliates exceeds $700 million
as of the prior December&nbsp;31, 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 &ldquo;emerging growth company&rdquo; shall have the meaning associated with
it in the JOBS Act.</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"><B>Legal Proceedings</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-align: justify; text-indent: 0.25in">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">&nbsp;</P>

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

<!-- Field: Page; Sequence: 162; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->151<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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="ca_017"></A>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; text-align: justify"><B>Directors and Officers</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-align: justify; text-indent: 0.25in">Upon consummation of this
offering, our directors and officers will be as follows:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 39%; border-bottom: black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name</B></FONT></TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%; border-bottom: black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Age</B></FONT></TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 54%; border-bottom: black 1pt solid; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Position</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.&nbsp;Claudius Tsang</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">47</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer,
    Chief Financial Officer, and Chairman</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.&nbsp;Xiangge Liu</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">57</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Independent Director</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.&nbsp;Wong Yi Dung Eden</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">54</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Independent Director</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.&nbsp;Pang Wai Yuen
    Marvin</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">59</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Independent Director</FONT></TD></TR>
  </TABLE>
<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; text-indent: 0.5in"> <FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Mr.&nbsp;Claudius
Tsang</B></FONT>&nbsp;has served as our Chief Executive Officer since September 2021, and as our Chief Financial Officer and Chairman
of our Board of Directors since July, 2024. Mr. Tsang has over 20 years of experience in capital markets, with a strong track record
of success in private equity, M&amp;A transactions, and PIPE investments. Since 2022, Mr. Tsang has been the non-executive director of
Unity Group Holdings International Limited (SEHK:1539), a publicly listed investment company engages in the leasing and trading of energy
saving products in Hong Kong. During his 15-year career at Templeton from 2005 to 2007 and from 2008 to 2020, Mr. Tsang served in various
positions, including Co-head of Private Equity (North Asia) at Templeton Asset Management Limited and a Partner of Templeton Private
Equity Partners, Partner, Senior Executive Director, and Vice President. Mr. Tsang was responsible for the overall investment, management,
and operations activities of Templeton Private Equity Partners in North Asia. His role encompassed overseeing the analysis and evaluation
of opportunities for strategic equity investments in Asia. From July 2007 to June 2008, Mr. Tsang joined Lehman Brothers, where he managed
private equity projects in Hong Kong, China, Taiwan and the United States. Mr. Tsang served as the Chief Executive Officer and Chairman
of Model Performance Acquisition Corp., from March 2021 and July 2021 respectively, until it closed its business combination with MultiMetaVerse
Inc. in January 2023. Since November 2022, he has served as the Chief Executive Officer, Chairman and Director of A Paradigm Acquisition
Corp. He previously served as the Chief Executive Officer and in June 2021 became the Chief Financial Officer of JVSPAC Acquisition Corp.
Mr. Tsang has served, from April 2021, as the Chief Executive Officer, and from July 2021, as the Chairman and Chief Financial Officer
of A SPAC I Acquisition Corp, until it closed its business combination with NewGenIvf Group Limited in April 2024. He has served as the
Chief Financial Officer of A SPAC II Acquisition Corp since July 2021 and as the Director and Chief Executive Officer of A SPAC (HK)
Acquisition Corp since February 2022 and March 2022, respectively. From February 2024 to July 2024, Mr. Tsang served as a director of
International Media Acquisition Corp. Mr. Tsang served as a director of the CFA Society of Hong Kong from 2013 to 2019. Mr. Tsang obtained
a postgraduate certificate in sustainable business from the University of Cambridge in 2023, a Master of Business Administration from
the University of Chicago Booth School of Business in 2017, a bachelor&rsquo;s degree in law from Tsinghua University in 2005, and a
bachelor&rsquo;s degree in engineering from the Chinese University of Hong Kong in 1998. Mr. Tsang is also a CFA charter holder and a
Certified ESG Analyst (CESGA) certification holder. </P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> <B>Mr. Xiangge Liu </B>will
serve as our Independent Director after the effectiveness of the registration statement of which this prospectus is a part. Mr. Liu has
over 25 years of extensive experience in private equity, project finance and advisory services. Since 2022, Mr. Liu has served as an
advisor &amp; acting CEO to Homaer Capital, where he advised on strategic overseas investment opportunities and he also has served as
a Responsible Officer for Homaer Asset Management Limited since 2023. From 2011 to 2021, Mr. Liu served as the Managing Director and
Responsible Officer of RRJ Management (HK), a licensed corporation under the SFO to carry out Type 1 (dealing in securities) and Type
4 (advising on securities) regulated activities, as the sub-adviser to RRJ Capital II Ltd, and general partner of RRJ Capital Master
Fund, which focuses in equity investments. From 2016 to 2018, Mr. Liu served as the Non-Executive Board Director for China Logistics
Property Holdings Co Ltd, an investment holding company listed in Hong Kong with its subsidiaries principally engaged in manufacture
and sales of premium logistics facilities. From 2010 to 2011, Mr. Liu served as senior vice-president and head of risk management at
CIAM Group Limited, an investment management company of CITIC Group Corporation where he oversaw investment operations and portfolio
management. From 2008 to 2010, Mr. Liu served as managing director at Dingyi Venture Capital (HK) Limited, an investment company, and
was responsible for overseeing its investment operations. From 2007 to 2008, Mr. Liu served as the Director in Project Finance and Advisory
for Societe Generale Asia limited. Mr. Liu obtained a master&rsquo;s degree in business administration from Boston University in 1999
and a bachelor&rsquo;s degree in finance from Beijing Foreign Studies University in 1989. We believe that Mr. Liu is qualified to serve
on our board of directors based on his private equity, project finance &amp; advisory expertise. </P>

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

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

<!-- Field: Page; Sequence: 163; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->152<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in"> <B>Mr.&nbsp;Wong Yi Dung
Eden</B> will serve as our Independent Director after the effectiveness of the registration statement of which this prospectus is a part.
Since January&nbsp;2022, Mr.&nbsp;Wong has served as Councillor of Greater China Division at CPA Australia. He previously served as Divisional
President of Greater China Division from January&nbsp;2022 to December&nbsp;2022, Deputy Divisional President of Greater China Division
from January&nbsp;2020 to December&nbsp;2021, and Chairman of the Financial Services Committee of Greater China Division from January&nbsp;2019
to December&nbsp;2021. During his tenure, he was responsible for engaging members and providing local support for CPA Australia in Greater
China, as well as maintaining the integrity of the designation. Since November&nbsp;2018, Mr.&nbsp;Wong has served as Chairman of ViiPark
Financial Holdings Co Limited. During his tenure, he was responsible for overseeing the strategic management of the company, developing
relationships with major clients, and monitoring and improving internal control. From November&nbsp;2010 to October&nbsp;2018, Mr.&nbsp;Wong
served as the Founder, Managing Director and Responsible Officer of East Pak Investment Management Co Limited. He was responsible for
managing a Cayman Island-incorporated fund that focuses on investment in the Greater China market. He was also involved in daily management,
sourcing and the analysis of investment opportunities in listed equities, fixed income, private equities and credit markets. From 2006
to 2010, Mr Wong served as an Executive Director at Goldman Sachs, in the Investment Management Division] and the Fixed Income, Currencies
and Commodities Division. From 2004 to 2006, Mr.&nbsp;Wong served as a Director of the Fixed Income Division at Credit Suisse (Hong Kong).
From 2000 to 2004, Mr.&nbsp;Wong served as the Director of Debt Research at ING Bank N.V. (Hong Kong). From 1999 to 2000, Mr.&nbsp;Wong
served as a Senior Corporate Analyst at Banque Paribas (Hong Kong). Mr.&nbsp;Wong began his career at HSBC (Hong Kong) where he served
as a Credit Research Analyst, Corporate Relationship Manager and Executive Trainee from 1991 to 1998. Mr.&nbsp;Wong obtained his master&rsquo;s
degree in business administration from the University of Chicago in 2016. He obtained his Bachelor of Laws from University of London
and Bachelor of Commerce from University of Melbourne in 2005 and 1991, respectively. Mr.&nbsp;Wong is a Fellow Member at CPA (Australia)
since 2017. We believe that Mr.&nbsp;Wong is qualified to serve on our board of directors based on his leadership experience in the finance
and investment management space, having founded and managed multiple investment firms and serving in senior roles at various financial
institutions. </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; text-indent: 0.25in"> <B>Mr.&nbsp;Pang Wai
Yuen Marvin</B> will serve as our Independent Director after the effectiveness of the registration statement of which this prospectus
is a part. Since 2022, Mr.&nbsp;Pang has served as the Director of Corporate Finance at iFree Group (HK) Limited, where he has led the
corporate finance efforts of Trollee &ndash; the group&rsquo;s smart retail technology division. In his current role, he analyses and
advises on global capital market opportunities and ascertains various exit options for the company. From 2018 to 2021, Mr.&nbsp;Pang
served as Managing Director - Head of Equities at Shenwan Hongyuan Securities (HK) Ltd. where he managed the overall institutional equity
business of the group outside mainland China. During his tenure, he also spearheaded the ECM&nbsp;&amp; syndication efforts for the H-share
IPO of Shenwan Hongyuan Group Ltd (6806.HK), and led the D-share IPO effort of Qingdao Haier (600690.CH), the first time such shares
of a Chinese company was listed on the China Europe International Exchange D-Share market of the Frankfurt Stock Exchange. From 2016
to 2018, Mr.&nbsp;Pang served as Managing Director - Head of Equity Capital Markets at Central China International Capital Limited where
he set up and led the ECM department and was involved in arranging the investment by a major cornerstone investor in the Zhongyuan Bank
Co Ltd (1216.HK) IPO. From 2012 to 2014, Mr.&nbsp;Pang served as the Head of the Hong Kong Office for Itau Asia Securities Limited, the
Hong Kong SFC-regulated entity of Itau Unibanco, one of the largest banks in the Latin American region. He was responsible for expanding
the firm&rsquo;s business from a Brazilian focus targeting Chinese clients and diversifying it to a Latin American focus targeting a
wider Asian client base. From 2008 to 2010, Mr.&nbsp;Pang was the Head of Equity Sales - China&nbsp;&amp; HK for HSBC Global Markets,
where he successfully led the Asian tranche of the US$12 billion follow-on offering of Vale of Brazil in 2008. He was also involved in
the IPO of L&rsquo;Occitane (973.HK), the first French company to list in Hong Kong. From 2005 to 2008, Mr.&nbsp;Pang served as Executive
Director &ndash; HK&nbsp;&amp; China Equity Sales at BOCI Securities Ltd. From 1998 &ndash; 2000, and from 2001 to 2005, Mr.&nbsp;Pang
was the Head of Institutional Equity Sales at Core Pacific-Yamaichi International (H.K.) Ltd. From 1988 to 2001, Mr.&nbsp;Pang served
at various companies, including Chase Manhattan Investment Management HK, Sanyo Securities HK, Daiwa Securities Canada, RBC Dominion
Securities Canada, Dresdner Kleinwort Benson Securities Asia and SBI E2 Capital Securities. Mr.&nbsp;Pang obtained a Master of Business
Administration (Finance) from the University of Stirling in 1988. He has been a Chartered Financial Analyst since 1996. In 2009, he was
voted as the number-one ranked hedge fund salesperson in the Asiamoney Brokers Poll.&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"></P>

<!-- Field: Page; Sequence: 164; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->153<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B>Involvement in Certain Legal Proceedings</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-align: justify; text-indent: 0.25in">Except as described below,
to the best of our knowledge, none of our directors or executive officers has, during the past ten years:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 97%; text-align: justify">&#8239;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">been
    convicted in a criminal proceeding or been subject to a pending criminal proceeding (excluding traffic violations and other minor
    offenses);</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="padding-left: 0in; width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">had
    any bankruptcy petition filed by or against the business or property of the person, or of any partnership, corporation or business
    association of which he was a general partner or executive officer, either at the time of the bankruptcy filing or within two years
    prior to that time;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; padding-right: 0.8pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-right: 0.8pt; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">been subject
    to any order, judgment, or decree, not subsequently reversed, suspended or vacated, by any court of competent jurisdiction or federal
    or state authority, permanently or temporarily enjoining, barring, suspending or otherwise limiting, his involvement in any type
    of business, securities, futures, commodities, investment, banking, savings and loan, or insurance activities, or to be associated
    with persons engaged in any such activity;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">been found
    by a court of competent jurisdiction in a civil action or by the Commission or the Commodity Futures Trading Commission to have violated
    a federal or state securities or commodities law, and the judgment has not been reversed, suspended, or vacated;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">been the subject
    of, or a party to, any federal or state judicial or administrative order, judgment, decree, or finding, not subsequently reversed,
    suspended or vacated (not including any settlement of a civil proceeding among private litigants), relating to an alleged violation
    of any federal or state securities or commodities law or regulation, any law or regulation respecting financial institutions or insurance
    companies including, but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty
    or temporary or permanent cease-and-desist order, or removal or prohibition order, or any law or regulation prohibiting mail or wire
    fraud or fraud in connection with any business entity; or</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">been the subject
    of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization (as
    defined in Section&nbsp;3(a)(26) of the Exchange Act), any registered entity (as defined in Section&nbsp;1(a)(29) of the Commodity
    Exchange Act), or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or
    persons associated with a member.</FONT></TD></TR>
  </TABLE>
<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>Number, Terms of Office and Election of Officers
and Directors</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-align: justify; text-indent: 0.25in"> Upon the closing of this
offering, we expect that our Board of Directors will consist of four members. Holders of our founder shares will have the right to elect
all of our directors prior to consummation of our initial business combination and holders of our public shares will not have the right
to vote on the election of directors during such time. These provisions of our amended and restated memorandum and articles of association
may only be amended by a resolution passed by holders of at least a majority of ordinary shares of that class that have voted and are
entitled to vote thereon. Each of our directors will hold office for an indefinite term or a term fixed by a resolution of the holders
of our founder shares. Subject to any other special rights applicable to the shareholders, any vacancies on our Board of Directors may
be filled by the affirmative vote by a majority of the holders of our founder shares. </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; text-indent: 0.25in">Our officers are elected
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 amended and restated memorandum and articles of association
as it deems appropriate. Our amended and restated memorandum and articles of association will provide that our officers may consist of
a Chairman, a Chief Executive Officer, a President, a Chief Financial Officer, one or more Vice Presidents, Secretaries, Treasurers 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Collectively, through their
positions described above, our officers and directors have extensive experience in finance, investment and capital markets. These individuals
will play a key role in identifying and evaluating prospective acquisition candidates, selecting the target businesses, and structuring,
negotiating and consummating the acquisition.</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: 165; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->154<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>

<!-- Field: Split-Segment; Name: 2 -->
<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"><B>Director Independence</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-align: justify; text-indent: 0.25in"> The 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
who has no material relationship with the listed company (either directly or as a partner, shareholder or officer of an organization
that has a relationship with the company). After the effectiveness of the registration statement of which this prospectus is a part,
we expect to have three &ldquo;independent directors&rdquo; as defined in the NASDAQ listing standards and applicable SEC rules&nbsp;prior
to completion of this offering. Our board has determined that each of Mr.&nbsp;Xiangge Liu, Mr.&nbsp;Wong Yi Dung Eden and Mr.&nbsp;Pang
Wai Yuen Marvin are independent directors under applicable SEC and NASDAQ 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; text-align: justify"><B>Officer and Director Compensation</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-align: justify; text-indent: 0.25in"> <FONT STYLE="font-family: Times New Roman, Times, Serif">None
of our officers or directors have received any cash compensation for services rendered to us. Our sponsor intends to transfer an aggregate
of 60,000 of its founder shares, or 20,000 each to our three independent directors, at the closing of this </FONT>offering. 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. </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; text-indent: 0.25in">After the completion of our
initial business combination, directors or members of our management team who remain with us may be paid consulting, management or other
fees from the combined company. All of these fees will be fully disclosed to shareholders, to the extent then known, in the tender offer
materials or proxy solicitation materials furnished to our shareholders in connection with a proposed business combination. It is unlikely
the amount of such compensation will be known at the time such materials are distributed, 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
by a compensation committee constituted solely by independent directors.</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; text-indent: 0.25in">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 the 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; text-align: justify"><B>Committees of the Board of Directors</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-align: justify; text-indent: 0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> After the effectiveness
of the registration statement of which this prospectus is a part, our Board of Directors will have three standing committees: an audit
committee, a compensation committee and a nominating committee. Each committee will operate under a charter that has been approved by
our board and will have the composition and responsibilities described below. Subject to phase-in rules&nbsp;and a limited exception,
NASDAQ rules&nbsp;and Rule&nbsp;10A-3 of the Exchange Act require that the audit committee of a listed company be comprised solely of
independent directors, and NASDAQ rules&nbsp;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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Audit Committee</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; text-align: justify; text-indent: 0.25in"> After the effectiveness
of the registration statement of which this prospectus is a part, we will establish an audit committee of the Board of Directors. The
members of our audit committee will be Mr.&nbsp;Xiangge Liu, Mr.&nbsp;Wong Yi Dung Eden, and Mr.&nbsp;Pang Wai Yuen Marvin. Mr.&nbsp;Wong
Yi Dung Eden will serve as chairman of the audit committee. </P>

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

<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-align: justify; text-indent: 0.25in">Each member of the audit
committee is financially literate and our Board of Directors has determined that Mr.&nbsp;Wong Yi Dung Eden 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">&nbsp;</P>

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

<!-- Field: Page; Sequence: 166; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->155<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">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">&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: 2%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the appointment, compensation, retention, replacement, and oversight of the work of the independent auditors and any other independent registered public accounting firm engaged by us;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">pre-approving all audit and non-audit services to be provided by the independent auditors or any other registered public accounting firm engaged by us, and establishing pre-approval policies and procedures;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">reviewing and discussing with the independent auditors all relationships the auditors have with us in order to evaluate their continued independence;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">setting clear hiring policies for employees or former employees of the independent auditors;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">setting clear policies for audit partner rotation in compliance with applicable laws and regulations;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">obtaining and reviewing a report, at least annually, from the independent auditors describing (i)&nbsp;the independent auditor&rsquo;s internal quality-control procedures and (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;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">reviewing with management, the independent auditors, 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&nbsp;promulgated by the Financial Accounting Standards Board, the SEC or other regulatory authorities.</FONT></TD></TR>
  </TABLE>
<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>Compensation Committee</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; text-align: justify; text-indent: 0.25in"> After the effectiveness
of the registration statement of which this prospectus is a part, we will establish a compensation committee of the Board of Directors.
The members of our Compensation Committee will be Mr.&nbsp;Xiangge Liu, Mr.&nbsp;Wong Yi Dung Eden and Mr.&nbsp;Pang Wai Yuen Marvin.
Mr.&nbsp;Xiangge Liu will serve as chairman of the compensation committee. We will adopt a compensation committee charter, which will
detail the principal functions of the compensation committee, including: </P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">reviewing and approving on an annual basis the corporate goals and objectives relevant to our Chief Executive Officer&rsquo;s compensation, evaluating our Chief Executive Officer&rsquo;s performance in light of such goals and objectives and determining and approving the remuneration (if any) of our Chief Executive Officer&rsquo;s based on such evaluation;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">reviewing and approving the compensation of all of our other officers;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">reviewing our executive compensation policies and plans;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">implementing and administering our incentive compensation equity-based remuneration plans;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">assisting management in complying with our proxy statement and annual report disclosure requirements;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">approving all special perquisites, special cash payments and other special compensation and benefit arrangements for our officers and employees;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">producing a report on executive compensation to be included in our annual proxy statement; and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">reviewing, evaluating and recommending changes, if appropriate, to the remuneration for directors.</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"></P>

<!-- Field: Page; Sequence: 167; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->156<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">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; text-align: justify"><I>Nominating Committee</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; text-align: justify; text-indent: 0.25in">After the effectiveness of
the registration statement of which this prospectus is a part, we will establish a nominating committee of the Board of Directors, which
will consist of Mr.&nbsp;Xiangge Liu, Mr.&nbsp;Wong Yi Dung Eden and Mr.&nbsp;Pang Wai Yuen Marvin, each of whom is an independent director
under the NASDAQ listing standards. Mr.&nbsp;Pang Wai Yuen Marvin will serve as chairman of the nominating committee. The nominating committee
is responsible for overseeing the selection of persons to be nominated to serve on our Board of Directors. The nominating committee considers
persons identified by its members, management, shareholders, investment bankers and others.</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"><B><I>Guidelines for Selecting Director Nominees</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-align: justify; text-indent: 0.25in">The guidelines for selecting
nominees, which are specified in the nominating committee charter, generally provide that persons to be nominated:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">should have demonstrated notable or significant achievements in business, education or public service;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">should possess the requisite intelligence, education and experience to make a significant contribution to the Board of Directors and bring a range of skills, diverse perspectives and backgrounds to its deliberations; and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">should have the highest ethical standards, a strong sense of professionalism and intense dedication to serving the interests of the shareholders.</FONT></TD></TR>
  </TABLE>
<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; text-indent: 0.25in">The nominating committee
will consider a number of qualifications relating to management and leadership experience, background and integrity and professionalism
in evaluating a person&rsquo;s candidacy for membership on the Board of Directors. The nominating committee may require certain skills
or attributes, such as financial or accounting experience, to meet specific board needs that arise from time to time and will also consider
the overall experience and makeup of its members to obtain a broad and diverse mix of board members. The nominating committee does not
distinguish among nominees recommended by shareholders and other persons.</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"><B>Compensation Committee Interlocks and Insider
Participation</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-align: justify; text-indent: 0.25in">None of our officers currently
serves, and in the past year has not served, (i)&nbsp;as a member of the compensation committee or Board of Directors of another entity,
one of whose executive officers served on our compensation committee, or (ii)&nbsp;as a member of the compensation committee of another
entity, one of whose executive officers served on our Board of Directors.</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"><B>Code of Ethics</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-align: justify; text-indent: 0.25in"> Prior to the closing
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
form of Code of Ethics and our audit committee charter as exhibits to the registration statement. You will be able to review these documents
by accessing our public filings at the SEC&rsquo;s web site at&nbsp;<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&nbsp;8-K. See &ldquo;<B><I>Where You Can Find Additional Information</I></B>.&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: 168; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->157<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B>Conflicts of Interest</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 0pt 0.25in">Under British Virgin Islands law, directors and officers owe
the following fiduciary duties:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">duty to act in good faith in what the director or officer believes to be in the best interests of the company as a whole;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">duty to exercise powers for the purposes for which those powers were conferred and not for a collateral purpose;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">directors should not improperly fetter the exercise of future discretion;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">duty to exercise powers fairly as between different classes of shareholders;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">duty not to put themselves in a position in which there is a conflict between their duty to the company and their personal interests; and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">duty to exercise independent judgment.</FONT></TD></TR>
  </TABLE>
<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; text-indent: 0.25in">In addition to the above,
directors also owe a duty of care. This duty has been defined as a requirement to act as a reasonably diligent director having both the
general knowledge, skill and experience that may reasonably be expected of a director carrying out the same functions as are carried out
by that director in relation to the company and the general knowledge skill and experience which that director has.</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; text-indent: 0.25in">As set out above, directors
have a duty not to put themselves in a position of conflict and this includes a duty not to engage in self-dealing, or to otherwise benefit
as a result of their position. However, pursuant to our amended and restated memorandum and articles of association, so long as a director
has disclosed any interests in a transaction entered into or to be entered into by our company to the board he/she may: vote on a matter
relating to the transaction; attend a meeting of directors at which a matter relating to the transaction arises and be included among
the directors present at the meeting for the purposes of a quorum; and sign a document on behalf of our company, or do any other thing
in his capacity as a director, that relates to the transaction..</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; text-indent: 0.25in"> Our sponsor and its
affiliates(s)&nbsp;as well as our directors and officers presently have, and in the future any of our sponsor and its affiliate(s),
our directors and our officers may have additional, fiduciary or contractual obligations to other entities pursuant to which such
sponsor, affiliate(s), officer or director is or will be required to present acquisition opportunities to such entity. Accordingly,
subject to his or her fiduciary duties under British Virgin Islands law, if any of our officers or directors becomes aware of an
acquisition opportunity which is suitable for an entity to which he or she has then current fiduciary or contractual obligations, he
or she will need to honor his or her fiduciary or contractual obligations to present such acquisition opportunity to such entity,
and only present it to us if such entity rejects the opportunity. Our amended and restated memorandum and articles of association
will provide that, subject to his or her fiduciary duties under British Virgin Islands law, we renounce our interest or expectancy
in any corporate opportunity offered to any officer or director 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 complete on a reasonable basis. We do not believe, however, that any fiduciary duties or contractual obligations of our
directors or officers would materially undermine our ability to complete our business combination. <FONT STYLE="font-family: Times New Roman, Times, Serif">For
example, Claudius Tsang, our Chief Executive Officer, Chief Financial Officer and Chairman, currently also serves as Chief Financial
Officer of A SPAC II Acquisition Corp (ASCB)., a special purpose acquisition company incorporated for the purposes of effecting a
business combination. ASCB completed its initial public offering in May 5, 2022, generating gross proceeds of $200,000,000. As of
the date of this prospectus, ASCB is in search of business combination targets. Because ASCB has not identified a target business,
Mr. Tsang has a pre-existing fiduciary obligation to present potential target businesses to ASCB, and will therefore present any
potential target businesses to it prior to presenting them to us. While both ASCB and our company are exploring targets with an ESG
focus, ASCB is </FONT>considering opportunities in high-growth industries utilizing cutting-edge technologies, such as proptech and
fintech (&quot;New Economy Sectors&quot;). In contrast, our initial considerations also extend to companies within the new materials
sector. Furthermore, ASCB is initially searching for potential targets with an enterprise value of $800 million to $2 billion
whereas we are looking at potential targets with an enterprise value of $100 million to $600 million. </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; text-indent: 0.25in"> Our directors and officers
are also not required to commit any specified amount of time to our affairs, and, accordingly, will have conflicts of interest in allocating
management time among various business activities, including identifying potential business combinations and monitoring the related due
diligence. In addition, our sponsor, officers and directors are now, and may in the future, sponsor or participate in the formation of,
or become sponsors, an officer or director of, any other special purpose acquisition companies similar to ours or may pursue other business
or investment ventures during the period in which we are seeking an initial business combination. Any such companies, businesses or investments,
may present additional conflicts of interest in determining to which entity a particular business opportunity should be presented, in
pursuing an initial business target and in allocating their time to devote to our affairs. Although we have no formal policy in place
for vetting potential conflicts of interest, our Board of Directors will review any potential conflicts of interest on a case-by-case
basis. In particular, our officers and directors, and affiliates of our officers and directors, are currently sponsoring other blank
check companies, and may look for an acquisition target in any location, has a window in which it may complete its initial business combination
that overlaps the corresponding window we have. However, we do not believe that any such potential conflicts would materially affect
our ability to complete our initial business combination, because our management team has experience in identifying and executing multiple
acquisition opportunities simultaneously. </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: 169; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->158<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">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">&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: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the course
    of their other business activities, our officers and directors may become aware of investment and business opportunities which may
    be appropriate for presentation to us as well as the other entities with which they are affiliated. Our management may have conflicts
    of interest in determining to which entity a particular business opportunity should be presented. For a complete description of our
    management&rsquo;s other affiliations, see &ldquo;<B><I>Management &mdash; Directors and Officers</I></B>.&rdquo;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"> <FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT> </TD>
    <TD STYLE="width: 97%; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maxim (and
    its designees), our sponsor, officers and directors have agreed to waive their redemption rights with respect to our founder shares,
    Representative&rsquo;s Shares and public shares in connection with the consummation of our initial business combination. Additionally,
    Maxim (and its designees), our sponsor, officers and directors have agreed to waive their redemption rights with respect to their
    founder shares if we fail to consummate our initial business combination within 12 months after the closing of this offering (or
    up to 18 months from the closing of this offering if we extend the period of time to consummate a business combination by the full
    amount of time without shareholder approval). If we do not complete our initial business combination within such applicable time
    period, the proceeds of the sale of the private placement units held in the trust account will be used to fund the redemption of
    our public shares and rights will expire worthless. With certain limited exceptions, the founder shares will not be transferable,
    assignable or salable by our sponsor until the earlier of (1)&nbsp;six months after the completion of our initial business combination
    and (2)&nbsp;the date on which we consummate a liquidation, merger, share exchange, reorganization, or other similar transaction
    after our initial business combination that results in all of our shareholders having the right to exchange their ordinary shares
    for cash, securities or other property. Notwithstanding the foregoing, if the last sale price of our Class&nbsp;A ordinary shares
    equals or exceeds $12.00 per share (as adjusted for share splits, share capitalizations, rights issuances, subdivisions, reorganizations,
    recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing after our initial business combination,
    the founder shares will be released from the lock-up. With certain limited exceptions, the private placement units, private placement
    shares, private placement units, private placement rights and the Class&nbsp;A ordinary shares underlying such rights will not be
    transferable, assignable or salable by our sponsor until the completion of our initial business combination. Since our sponsor and
    officers and directors may directly or indirectly own ordinary shares&nbsp;and rights 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.</FONT> </TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 2%"> &nbsp; </TD>
    <TD STYLE="width: 1%; text-align: justify"> <FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT> </TD>
    <TD STYLE="text-align: justify; width: 97%"> Since our sponsor and officers and directors may directly or indirectly own ordinary
    shares&nbsp;and rights 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>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT> </TD>
    <TD STYLE="text-align: justify"> 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 was included by a target business as a condition
    to any agreement with respect to our initial business combination. </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT> </TD>
    <TD STYLE="text-align: justify"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif">If
                                    an initial business combination is not completed, the Company will be required to liquidate. In such
                                    event, (i) 1,375,000 Class B ordinary shares (or 1,581,250 Class B ordinary shares if the underwriters&rsquo;
                                    over-allotment option is exercised in full) held by the sponsor, which were acquired by the sponsor
                                    prior to this Offering for an aggregate purchase price of approximately $0.02, or $25,000 in the
                                    aggregate, and (ii) all 280,000 Private Placement Units (or 288,250 Private Placement Units if the
                                    underwriters&rsquo; over-allotment option is exercised in full) (including component securities contained
                                    therein) to be purchased by the sponsor in a private placement that will close simultaneously with
                                    the closing of this Offering, for an aggregate purchase price of $10.00 per units, or $2,800,000
                                    in the aggregate, will be worthless because the sponsor is not entitled to participate in any redemption
                                    of distribution from the Trust Account with respect to such securities. The sponsor, its affiliates,
                                    or promoters, and members of our management team waived their redemption rights and liquidation rights
                                    in connection with the purchase of the founder shares and the Private Placement Units and no other
                                    consideration was paid for such agreement. </FONT>Since our sponsor, its affiliates and promoters,
                                    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. </P>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT> </TD>
    <TD STYLE="text-align: justify"> Our sponsor intends to transfer an aggregate of 60,000 of its founder shares, or 20,000 each to
    our three independent directors, at the closing of this Offering. Accordingly, if we do not complete our initial business combination,
    such founder shares will expire worthless. </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT> </TD>
    <TD STYLE="text-align: justify"> The sponsor may make loans from time to time to the Company to fund certain capital requirements.
    If our sponsor makes any working capital loans, up to $1,150,000 of such loans may be converted into units, at the price of $10.00
    per unit at the option of the lender. Such units would be identical to the private placement units. Since we will not repay such
    loans if we do not complete a business combination, a conflict of interest may arise. </TD></TR>
  </TABLE>
<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; text-indent: 0.25in">The conflicts described above
may not be resolved in our favor.</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; text-indent: 0.25in">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. Below is a table summarizing the entities to which our officers and directors
currently have fiduciary duties or contractual obligations:</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: 170; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->159<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>

<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; width: 14%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Individual</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 24%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Entity<SUP>(1)</SUP></B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 18%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Entity&rsquo;s Business</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 44%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Affiliation</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Claudius Tsang</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Female Entrepreneurs Worldwide</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Internet Community</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Advisor</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ACH</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial Services</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment Director</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beijing ReeChain Technology Limited</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Blockchain</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A SPAC&nbsp;II Acquisition Corp.</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SPAC</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Financial Officer</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A SPAC (HK) Acquisition Corp</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SPAC</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer, Executive Director</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">JVSPAC Acquisition Corp.</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SPA</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Financial Officer and Director</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unity Group Holdings International Limited.</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ESG</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-executive director</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A Paradigm Acquisition Corp.</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SPAC</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer, Chairman and Director</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;Xiangge Liu</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Homaer Capital</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial Services</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Acting CEO, Advisor</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Homaer Asset Management Limited</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial Services</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Responsible Officer</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wong Yi Dung Eden</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Viipark Financial Holdings Co., Limited</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment Bank</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CPA Australia</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial Services</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Councilor, Greater China</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pang Wai Yuen Marvin</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">iFree Group (Hong Kong) Limited</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Smart Retail Technology</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director &ndash; Corporate Finance</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; text-align: justify; text-indent: 0.25in">Accordingly, if any of the
above officers or directors become aware of a business combination opportunity which is suitable for any of the above entities 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 entity, and only present it to us if such entity rejects the opportunity, subject
to his or her fiduciary duties under British Virgin Islands law. In particular, Mr.&nbsp;Claudius Tsang is the Chief Financial Officer
of A SPAC II Acquisition Corp. (&ldquo;ASCB&rdquo;), a special purpose acquisition company that is in search of business combination targets.
Because ASCB has not identified a target business, Mr.&nbsp;Tsang has a pre-existing fiduciary obligation to present potential target
businesses to ASCB, and will therefore present any potential target businesses to it prior to presenting them to 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; text-align: justify; text-indent: 0.25in">Notwithstanding the foregoing,
we do not believe that any of the foregoing fiduciary duties or contractual obligations will materially affect our ability to complete
our initial business combination, because the specific industry focuses of a majority of these entities differ from our focus on ESG and
material technology businesses and the type or size of the transaction that such companies would most likely consider are of a size and
nature substantially different than what we are targeting.</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; text-indent: 0.25in">We are not prohibited from
pursuing an initial business combination with a company that is affiliated with our sponsor, officers or directors. 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 another independent firm that commonly renders valuation opinions or from an independent
accounting firm, 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"> In the event that we
submit our initial business combination to our public shareholders for a vote, Maxim (and its designees), our sponsor, officers and directors
have agreed (and their permitted transferees will agree), pursuant to the terms of a letter agreement entered into with us, to vote any
founder shares, private placement shares and Representative&rsquo;s Shares held by them (and their permitted transferees will agree)
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"></P>

<!-- Field: Page; Sequence: 171; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->160<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B>Limitation on Liability and Indemnification
of Officers and Directors</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-align: justify; text-indent: 0.25in">BVI law does not limit the
extent to which a company&rsquo;s memorandum and articles of association may provide for indemnification of officers and directors, except
to the extent any provision providing indemnification may be held by the BVI courts to be contrary to public policy, such as to provide
indemnification against civil fraud or the consequences of committing a crime. Under our amended and restated memorandum and articles
of association, we will indemnify against all expenses, including legal fees, and against all judgments, fines and amounts paid in settlement
and reasonably incurred in connection with legal, administrative or investigative proceedings for any person who:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">is or was a party or is threatened to be made a party to any threatened, pending or completed proceedings, whether civil, criminal, administrative or investigative, by reason of the fact that the person is or was our director; or</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">is or was, at our request, serving as a director or officer of, or in any other capacity is or was acting for, another body corporate or a partnership, joint venture, trust or other enterprise.</FONT></TD></TR>
  </TABLE>
<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; text-indent: 0.25in">These indemnities only apply
if the person acted honestly and in good faith with a view to our best interests and, in the case of criminal proceedings, the person
had no reasonable cause to believe that his conduct was unlawful.</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; text-indent: 0.25in">This standard of conduct
is generally the same as permitted under the Delaware General Corporation Law for a Delaware corporation. Insofar as indemnification for
liabilities arising under the Securities Act may be permitted to our directors, officers or persons controlling us under the foregoing
provisions, we have been advised that in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities
Act and is therefore unenforceable.</P>

<P STYLE="font: 10pt 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: 172; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->161<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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="ca_015"></A>PRINCIPAL SHAREHOLDERS</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-align: justify; text-indent: 0.25in">The following table sets
forth information regarding the beneficial ownership of our ordinary shares as of the date of this prospectus, and as adjusted to reflect
the sale of our Class&nbsp;A ordinary shares included in the units offered by this prospectus, and assuming no purchase of units in this
offering, by:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">each person known by us to be the beneficial owner of more than 5% of our issued and outstanding ordinary shares;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">each of our officers, directors and director nominees that beneficially own ordinary shares; and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">all our officers, directors and director nominees as a group.</FONT></TD></TR>
  </TABLE>
<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; text-indent: 0.25in">Unless otherwise indicated,
we believe that all persons named in the table have sole voting and investment power with respect to all ordinary shares beneficially
owned by them. The following table does not reflect record or beneficial ownership of the private placement units or private placement
rights as these rights are not convertible within 60 days of the date of 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; text-align: justify; text-indent: 0.25in">The below assumes that the
underwriters do not exercise their over-allotment option, that our sponsor forfeits 206,250 founder shares, and that there 7,402,500 are
ordinary shares issued and outstanding after 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">&nbsp;</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Before
    Offering</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="5" STYLE="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>After
    Offering</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name and
    Address of Beneficial Owner<SUP>(1)</SUP></B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Number&nbsp;<BR>
    of Ordinary<BR>
    Shares&nbsp;<BR>
    Beneficially&nbsp;<BR>
    Owned<SUP>(2)</SUP></B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Approximate&nbsp;<BR>
    Percentage <BR>
    of&nbsp;<BR>
    Outstanding&nbsp;<BR>
    Ordinary<BR>
    Shares</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Number&nbsp;<BR>
    of Ordinary Shares&nbsp;<BR>
    Beneficially&nbsp;<BR>
    Owned</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> &nbsp; </TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Approximate&nbsp;<BR>
    Percentage <BR>
    of&nbsp;<BR>
    Outstanding&nbsp;<BR>
    Ordinary <BR>
    Shares</B></FONT> </TD>
    <TD STYLE="padding-bottom: 1pt"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="width: 46%; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A SPAC III
    (Holdings) Corp.<SUP>(2)(3)(5)</SUP></FONT> </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 10%; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,521,250</FONT> </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 11%; text-align: right"> 96.1 </TD>
    <TD STYLE="width: 2%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT> </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 10%; text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,595,000</FONT> </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 1%"> &nbsp; </TD>
    <TD STYLE="width: 11%; text-align: right"> 21.6 </TD>
    <TD STYLE="width: 2%"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT> </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Claudius Tsang</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> 760,625 </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> 48.1 </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> 797,500 </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> 10.8 </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%&nbsp;</FONT> </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif">[</FONT>Serena Shie] </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"> 760,625 </P></TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"> 48.1 </P></TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%&nbsp;</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"> 797,500 </P></TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"><P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"> 10.8 </P></TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%&nbsp;</FONT> </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liu Xiangge<SUP>(4)</SUP></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">20,000</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.3</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">20,000</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT> </TD>
    <TD> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wong Yi Dung Eden<SUP>(4)</SUP></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">20,000</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.3</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">20,000</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT> </TD>
    <TD> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pang Wai Yuen Marvin<SUP>(4)</SUP></FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">20,000</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.3</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">20,000</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT> </TD>
    <TD> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">All executive officers
    and directors as a group (4 individuals)</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,581,250 </FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100.0</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,655,000</FONT> </TD>
    <TD> &nbsp; </TD>
    <TD> &nbsp; </TD>
    <TD STYLE="text-align: right"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">22.4</FONT> </TD>
    <TD> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</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">&nbsp;*Less than one percent</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="width: 98%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;Unless otherwise noted, the business address of each of the following entities or individuals is The Sun&rsquo;s Group Center, 29th Floor, 200 Gloucester Road, Wan Chai Hong Kong.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="width: 98%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;Our sponsor is controlled by Claudius Tsang.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; font-size: 10pt; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT> </TD>
    <TD STYLE="width: 98%"> &nbsp;Assumes conversion of Class&nbsp;B ordinary shares into Class&nbsp;A ordinary shares on a one-for-one
    basis. The dilution to public shareholders would increase to the extent that the anti-dilution provisions of the Class&nbsp;B ordinary
    shares result in the issuance of Class&nbsp;A ordinary shares on a greater than one-to-one basis upon such conversion &nbsp; </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify"> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</FONT> </TD>
    <TD> A SPAC III (Holdings) Corp intends to transfer 20,000 shares to each of the independent non-executive directors at the consummation
    of an initial business combination. &nbsp; </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify"> &nbsp; </TD>
    <TD> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</FONT> </TD>
    <TD STYLE="font-size: 10pt; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[</FONT><FONT STYLE="font-size: 10pt">Claudius
    Tsang and Serena Shie are beneficial shareholders of A SPAC III (Holdings) Corp. and Claudius Tsang directs its day-to-day operations.
    Prior to this offering, A SPAC III (Holdings) Corp., beneficially owned 1,375,000 shares of the Company&rsquo;s Class B ordinary
    shares, or founder shares, which were purchase for $25,000, of which 206,250 shares are subject to forfeiture in the event that the
    over-allotment is not exercised. Immediate after this offering, assuming the over-allotment option is not exercised, A SPAC III(Holdings)
    Corp. Will subscribe to an aggregate of 280,000 private placement units, at a price of $10.00 per unit for an aggregate purchase
    price of&nbsp;$2,800,000 in a private placement that will close simultaneously with the closing of this Offering. &nbsp;]</FONT> </TD></TR>
  </TABLE>


<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; text-indent: 0.25in">Immediately after this offering,
our sponsor will beneficially own approximately 20% of the then issued and outstanding ordinary shares and will have the right to elect
all of our directors prior to our initial business combination as a result of holding all of the founder shares. Holders of our public
shares will not have the right to elect any directors to our Board of Directors prior to our initial business combination. In addition,
because of their ownership block, our sponsor may be able to effectively influence the outcome of all other matters requiring approval
by our shareholders, including amendments to our amended and restated memorandum and articles of association and approval of significant
corporate transactions.</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; text-indent: 0.25in"> Our sponsor has agreed
to purchase an aggregate of 280,000 units (or 288,250 units if the over-allotment option is exercised in full) at a price of $10.00 per
unit for an aggregate purchase price of $2,800,000, or $2,882,500 if the over-allotment option is exercised in full, in a private placement
that will close simultaneously with the closing of this offering. Each private placement unit will be identical to the units sold in
this offering, except as described in this prospectus. The purchase price of the private placement units will be added to the proceeds
from this offering to be held in the trust account pending our completion of our initial business combination. If we do not complete
our initial business combination within 12 months from the closing of this offering (or up to 18 months from the closing of this offering
if we extend the period of time to consummate a business combination by the full amount of time without shareholder approval), the proceeds
of the sale of the private placement units held in the trust account will be used to fund the redemption of our public shares. </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: 173; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->162<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">Our sponsor and our officers
and directors are deemed to be our &ldquo;promoters&rdquo; as such term is defined under the federal securities laws. See &ldquo;<B><I>Certain
Relationships and Related Party Transactions</I></B>&rdquo; for additional information regarding our relationships with our promoters.</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>SPONSOR INFORMATION</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"> Claudius Tsang and Serena Shie are beneficial shareholders of A
SPAC III (Holdings) Corp. and Claudius Tsang directs its day-to-day operations. Prior to this offering, A SPAC III (Holdings) Corp.,
beneficially owned 1,375,000 shares of the Company&rsquo;s Class B ordinary shares, or founder shares, which were purchase for $25,000,
of which 206,250 shares are subject to forfeiture in the event that the over-allotment is not exercised. Immediately after this offering,
assuming the over-allotment option is not exercised, A SPAC III (Holdings) Corp. will subscribe to an aggregate of 280,000 private placement
units, at a price of $10.00 per unit for an aggregate purchase price of&nbsp;$2,800,000 in a private placement that will close simultaneously
with the closing of this Offering. &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"> Except as described above, no persons has any direct or indirect
material interest in A SPAC III (Holdings) Corp. </P>

<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; text-align: justify"><B>Transfers of Founder Shares and Private Placement
Units</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-align: justify; text-indent: 0.25in">The founder shares, and private
placement units, and securities contained therein, 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)&nbsp;in the case of the founder shares, until the earlier of (A)&nbsp;six months 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 the
Class&nbsp;A ordinary shares equals or exceeds $12.00 per share (as adjusted for share splits, share capitalizations, rights issuances,
subdivisions, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing after
our initial business combination, or (y)&nbsp;the date on which we complete a liquidation, merger, share exchange, reorganization or other
similar transaction following the completion of our initial business combination that results in all of our shareholders having the right
to exchange their Class&nbsp;A ordinary shares for cash, securities or other property, and (ii)&nbsp;in the case of the private placement
units, including the component securities therein, until the completion of our initial business combination, except in each case (a)&nbsp;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)&nbsp;in the case of an individual, by gift to a member of the individual&rsquo;s immediate family or to a trust, the
beneficiary of which is a member of the individual&rsquo;s immediate family or an affiliate of such person, or to a charitable organization;
(c)&nbsp;in the case of an individual, by virtue of laws of descent and distribution upon death of the individual; (d)&nbsp;in the case
of an individual, pursuant to a qualified domestic relations order; (e)&nbsp;in the event of our liquidation prior to our completion of
our initial business combination; or (f)&nbsp;by&nbsp;virtue of the laws of&nbsp;the British Virgin Islands or our sponsor&rsquo;s operating
agreement upon dissolution of our sponsor; provided, however, that in the case of clauses (a)&nbsp;through (e)&nbsp;or (f)&nbsp;these
permitted transferees must enter into a written agreement agreeing to be bound by these transfer restrictions 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; text-align: justify; text-indent: 0.25in"></P>

<!-- Field: Page; Sequence: 174; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->163<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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; text-indent: 0.25in"></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"><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-align: justify; text-indent: 0.25in">The holders of the founder
shares, private placement units, shares being issued to the underwriters of this offering, and units that may be issued on conversion
of working capital loans (and in each case holders of their component securities, as applicable) will be entitled to registration rights
pursuant to a registration 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&nbsp;A ordinary shares). The holders 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&nbsp;415 under the
Securities Act. However, the registration rights agreement provides that we will not permit any registration statement filed under the
Securities Act to become effective until termination of the applicable lock-up period, which occurs (i)&nbsp;in the case of the founder
shares, on the earlier of (A)&nbsp;six months 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 Class&nbsp;A ordinary shares equals or exceeds $12.00 per share (as adjusted
for share splits, share capitalizations, rights issuances, subdivisions, reorganizations, recapitalizations and the like) for any 20 trading
days within any 30-trading day period commencing after our initial business combination, or (y)&nbsp;the date on which we complete a liquidation,
merger, share exchange, reorganization or other similar transaction after the completion of our initial business combination that results
in all of our public shareholders having the right to exchange their Class&nbsp;A ordinary shares for cash, securities or other property,
and (ii)&nbsp;in the case of the private placement units, including the component securities therein, until the completion of our initial
business combination. Notwithstanding the above, the shares to be issued to the underwriters in this offering will be further subject
to the limitations on registration requirements imposed by FINRA Rule&nbsp;5110(g)(8). 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">&nbsp;</P>

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

<!-- Field: Page; Sequence: 175; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->164<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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="ca_014"></A>CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS</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-align: justify; text-indent: 0.25in"> In September&nbsp;3,&nbsp;2021,
our sponsor purchased 1,581,250 founder shares for an aggregate purchase price of $25,000, or approximately $0.017 per share. On July&nbsp;23,
2024, we issued to our sponsor 1,581,250 founder shares for an aggregate purchase price of $25,000 or approximately $0.016 per share,
and subsequently 1,437,500 of the founder shares were repurchased by the Company for an aggregate purchase price of $25,000. Our sponsor
intends to transfer an aggregate of 60,000 of its founder shares, or 20,000 each to our three independent directors, at the closing of
this Offering. Our sponsor will own approximately 20% of our issued and outstanding shares after this offering (assuming it does not
purchase units in this offering and excluding the private placement shares and the Representative&rsquo;s Shares) and will have the right
to elect all of our directors prior to our initial business combination. If we increase or decrease the size of the offering, we will
effect a capitalization or share surrender or redemption or other appropriate mechanism, as applicable, with respect to our Class&nbsp;B
ordinary shares immediately prior to the consummation of the offering in such amount as to maintain the ownership of founder shares of
our sponsor prior to this offering at approximately 20% of our issued and ordinary shares upon the consummation of this offering&nbsp;(excluding
the private placement shares). </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; text-indent: 0.25in"> Our sponsor has agreed
to purchase an aggregate of 280,000 units (or 288,250 units if the over-allotment option is exercised in full) at a price of $10.00 per
unit in a private placement that will close simultaneously with the closing of this offering. Each private placement unit will be identical
to the units sold in this offering, except as described in this prospectus. The private placement shares and the private placement rights
(including the Class&nbsp;A ordinary shares issuable upon conversion of the private placement rights) may not, subject to certain limited
exceptions, be transferred, assigned or sold by it until the completion of our initial business combination. There will be no redemption
rights or liquidating distributions from the trust account with respect to the founder shares, private placement shares or private placement
rights, which will expire worthless if we do not consummate a business combination within the allotted 12-month period (or up to 18 months
from the closing of this offering if we extend the period of time to consummate a business combination by the full amount of time without
shareholder approval). </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; text-indent: 0.25in">As more fully discussed
in &ldquo;<B><I>Management &mdash; Conflicts of Interest</I></B>,&rdquo; if any of our officers or directors becomes aware of a business
combination opportunity that falls within the line of business of any entity to which he or she has then-current 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, subject to his or her fiduciary duties under British Virgin Islands law. 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">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">As of the date of this prospectus,
our sponsor has agreed to loan us up to $350,000 to be used for a portion of the expenses of this offering. As of June 30, 2024 we had
borrowed $125,651 under the promissory note with our sponsor. These loans are non-interest bearing, unsecured and are due at the earlier
of the closing of this offering or the date which the company determines not to conduct this offering. The loans will be repaid upon
the closing of this offering. 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">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
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 $1,150,000 of such loans may be convertible into units at a price of $10.00 per unit
at the option of the lender. The units would be identical to the private placement units issued to the initial holders. 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. WWC,
P.C., </FONT>&nbsp;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">&nbsp;</P>

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

<!-- Field: Page; Sequence: 176; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->165<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">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 shareholders, to the extent then known, in the tender offer or proxy solicitation
materials, as applicable, furnished to our shareholders. 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 shareholder 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">We have entered into a registration
rights agreement with respect to the founder shares, private placement units, the shares being issued to the underwriters of this offering,
and units that may be issued on conversion of working capital loans (and in each case holders of their component securities, as applicable),
which is described under the heading &ldquo;Principal Shareholders &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; text-align: justify"><B>Related Party Policy</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-align: justify; text-indent: 0.25in">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">&nbsp;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">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 an independent investment banking
firm or another independent firm that commonly renders valuation opinions or from an independent accounting firm, that our initial business
combination is fair to our company from a financial point of view. Furthermore, no finder&rsquo;s fees, reimbursements or cash payments
will be made to our sponsor, officers or directors, or our or their affiliates, for services rendered to us prior to or in connection
with the completion of our initial business combination. 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">&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: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Repayment of up to an aggregate of up to $350,000 in loans made to us by our sponsor to cover offering-related and organizational expenses;</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"></P>

<!-- Field: Page; Sequence: 177; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->166<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>

<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: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reimbursement for any out-of-pocket expenses related to identifying, investigating and completing an initial business combination; and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Repayment of 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, the terms of which have not been determined nor have any written agreements been executed with respect thereto. Up to $1,150,000 of such loans may be convertible into units, at a price of $10.00 per unit at the option of the lender.</FONT></TD></TR>
  </TABLE>
<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; text-indent: 0.25in">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">&nbsp;</P>

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

<!-- Field: Page; Sequence: 178; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->167<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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="ca_013"></A>DESCRIPTION OF SECURITIES</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-align: justify; text-indent: 0.25in">We are a company incorporated
in the British Virgin Islands as a BVI business company (company number 2074612) and our affairs are governed by our amended and restated
memorandum and articles of association, the Companies Act and common law of the British Virgin Islands. Pursuant to our amended and restated
memorandum and articles of association which will be adopted upon the consummation of this offering, we will be authorized to issue 100,000,000
Class&nbsp;A ordinary shares with no par value each, 10,000,000 Class&nbsp;B ordinary shares with no par value each and 1,000,000 preference
shares with no par value each. The following description summarizes certain terms of our shares as set out more particularly in our amended
and restated memorandum and articles of association. 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Each unit has an offering
price of $10.00 and consists of one Class&nbsp;A ordinary share and one right.</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; text-indent: 0.25in">Each right entitles the holder
thereof to receive one-fourth (1/4) of one Class&nbsp;A ordinary share upon completion of our initial business combination. We will not
issue fractional shares in connection with an exchange of rights. Fractional shares will either be rounded down to the nearest whole share
or otherwise addressed in accordance with the applicable provisions of British Virgin Islands law. As a result, you must hold rights in
multiples of 4 in order to receive shares for all of your rights upon closing of a 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; text-align: justify; text-indent: 0.25in">The ordinary shares and rights
comprising the units will begin separate trading on the 52<SUP>nd</SUP>&nbsp;day following the closing of this offering unless Maxim 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.
Once the Class&nbsp;A ordinary shares and rights 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 Class&nbsp;A ordinary shares and rights.</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; text-indent: 0.25in">In no event will the Class&nbsp;A
ordinary shares and rights be traded separately until we have filed with the SEC a Current Report on Form&nbsp;8-K which includes an audited
balance sheet reflecting our receipt of the gross proceeds 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 will include this audited balance sheet, 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&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.</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"><B>Ordinary Shares</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-align: justify; text-indent: 0.25in">Upon the closing of this
offering 7,402,500 ordinary shares will be issued and outstanding (assuming no exercise of the underwriters&rsquo; over-allotment option
and the corresponding forfeiture of 206,250 founder shares by our sponsor), including:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,500,000 Class&nbsp;A ordinary shares underlying the units being offered in this offering;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">280,000 Class&nbsp;A ordinary shares underlying the private placement units;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,375,000 Class&nbsp;B ordinary shares held by our sponsor; and</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">247,500 Class&nbsp;A ordinary shares held by Maxim.</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; text-align: justify; text-indent: 0.25in">If we increase or decrease
the size of the offering, we will effect a capitalization or share surrender or redemption or other appropriate mechanism, as applicable,
with respect to our Class&nbsp;B ordinary shares immediately prior to the consummation of the offering in such amount as to maintain the
ownership of founder shares by our sponsor prior to this offering at 20% of our issued and outstanding ordinary shares upon the consummation
of this offering&nbsp;(excluding the private placement shares).</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: 179; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->168<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">Class&nbsp;A ordinary shareholders
and Class&nbsp;B ordinary shareholders of record are entitled to one vote for each share held on all matters to be voted on by shareholders
and vote together as a single class, except as required by law; provided that, for so long as any Class&nbsp;B ordinary shares are outstanding,
holders of our Class&nbsp;B ordinary shares will have the right to elect all of our directors prior to our initial business combination
and holders of our Class&nbsp;A ordinary shares will not be entitled to vote on the election of directors during such time. These provisions
of our amended and restated memorandum and articles of association may only be amended by a resolution passed by holders of at least a
majority of ordinary shares of that class that have voted and are entitled to vote thereon. Unless specified in the Companies Act, our
amended and restated memorandum and articles of association or applicable stock exchange rules, the affirmative vote of a majority of
our ordinary shares that are voted is required to approve any such matter voted on by our shareholders (other than the election of directors),
and the affirmative vote of a majority of our founder shares is required to approve the election of directors. Directors are elected for
an indefinite term or a term fixed by a resolution of the holders of our founder shares. There is no cumulative voting with respect to
the election of directors, with the result that the holders of more than 50% of the founder shares voted for the election of directors
can elect all of the directors. Our shareholders 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Because our amended and restated
memorandum and articles of association will authorize the issuance of up to 100,000,000 Class&nbsp;A ordinary shares, if we were to enter
into a business combination, we may (depending on the terms of such a business combination) be required to increase the number of ordinary
shares which we are authorized to issue at the same time as our shareholders vote on the business combination to the extent we seek shareholder
approval 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; text-align: justify; text-indent: 0.25in">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. There is no requirement under the Companies Act for us to hold annual or general meetings or elect
directors. We may not hold an annual meeting of shareholders prior to the consummation 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; text-align: justify; text-indent: 0.25in">We will provide our Class&nbsp;A
public shareholders 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 (which interest shall be net of taxes payable)
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 (subject to increase of up to an additional $0.20 per unit in the
event that our sponsor elects to extend the period of time to consummate a business combination, as described in more detail in this prospectus).
Maxim (and its designees), our sponsor, officers and directors have entered into a letter agreement with us, pursuant to which they have
agreed (and their permitted transferees will agree) to waive their redemption rights with respect to their founder shares, Representative&rsquo;s
Shares and public shares in connection with 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; text-align: justify; text-indent: 0.25in"> Unlike many blank check
companies that hold shareholder 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 shareholder vote is not required by law and we do not decide to hold a shareholder vote for business or other legal reasons,
we will, pursuant to our amended and restated memorandum and articles of association, conduct the redemptions pursuant to the tender
offer rules&nbsp;of the SEC, and file tender offer documents with the SEC prior to completing our initial business combination. Our amended
and restated memorandum and articles of association 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 shareholder approval of the transaction is required by law, or we decide to obtain shareholder 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&nbsp;and not pursuant to the tender offer rules. If we seek shareholder approval, we will complete our initial business
combination only if a majority of the issued and outstanding ordinary shares voted are voted in favor of the business combination. However,
the participation of Maxim (and its designees), our sponsor, officers, directors 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 shareholders vote, or indicate their intention to vote, against such business combination. For purposes of seeking approval of
the majority of our issued and outstanding ordinary shares, non-votes will have no effect on the approval of our initial business combination
once a quorum is obtained. We intend to give approximately 25 days (but not less than 20 calendar 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. </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: 180; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->169<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in"> If we seek shareholder
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 memorandum and articles of association will provide that a public shareholder, together
with any affiliate of such shareholder or any other person with whom such shareholder 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, without the consent of the directors,
with respect to more than an aggregate of 15% of the ordinary shares sold in this offering, which we refer to as the &ldquo;Excess Shares.&rdquo;
However, we would not be restricting our shareholders&rsquo; ability to vote all of their shares (including Excess Shares) for or against
or abstain from voting on our initial business combination. Our shareholders&rsquo; inability to redeem the Excess Shares will reduce
their influence over our ability to complete our initial business combination, and such shareholders could suffer a material loss in
their investment if they sell such Excess Shares on the open market. Additionally, such shareholders will not receive redemption distributions
with respect to the Excess Shares if we complete the business combination. And, as a result, such shareholders will continue to hold
that number of shares exceeding 15% and, in order to dispose such shares would be required to sell their shares in open market transactions,
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; text-align: justify; text-indent: 0.25in"> If we seek shareholder
approval in connection with our initial business combination, Maxim (and its designees), our sponsor, officers and directors have agreed
(and their permitted transferees will agree), pursuant to the terms of a letter agreement entered into with us, to vote any founder shares,
private placement shares, and Representative&rsquo;s Shares held by them in favor of our initial business combination. Additionally,
each public shareholder may elect to redeem their public shares irrespective of whether they vote for or against or abstain from voting
on the proposed transaction, or whether they were a public shareholder on the record date for the shareholder meeting held to approve
the proposed transaction. </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; text-indent: 0.25in"> Pursuant to our amended
and restated memorandum and articles of association, if we are unable to complete our initial business combination within 12 months from
the closing of this offering (or up to 18 months from the closing of this offering if we extend the period of time to consummate a business
combination by the full amount of time without shareholder approval), we will (i)&nbsp;cease all operations except for the purpose of
winding up, (ii)&nbsp;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 (which interest
shall be net of taxes payable and less up to $200,000 of interest to pay dissolution expenses) divided by the number of then outstanding
public shares, which redemption will completely extinguish public shareholders&rsquo; rights as shareholders (including the right to
receive further liquidation 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 shareholders and our Board of Directors, liquidate and dissolve, subject in
each case to our obligations under British Virgin Islands law to provide for claims of creditors and the requirements of other applicable
law. Maxim (and its designees), 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 their founder shares, private placement
shares and Representative&rsquo;s Shares if we fail to complete our initial business combination within 12 months from the closing of
this offering (or up to 18 months from the closing of this offering if we extend the period of time to consummate a business combination
by the full amount of time). However, if our sponsor acquires public shares 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In the event of a liquidation,
dissolution or winding up of the company after a business combination, our shareholders 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 shares, if any, having preference
over the ordinary shares. Our shareholders have no preemptive or other subscription rights. There are no sinking fund provisions applicable
to the ordinary shares, except that we will provide our shareholders 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, including interest (which interest shall be net
of taxes payable) 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"></P>

<!-- Field: Page; Sequence: 181; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->170<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B>Founder Shares</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-align: justify; text-indent: 0.25in"> The founder shares are
identical to the Class&nbsp;A ordinary shares included in the units being sold in this offering, and holders of founder shares have the
same shareholder rights as public shareholders, except that (i)&nbsp;holders of the founder shares have the right to vote on the election
of directors prior to our initial business combination, (ii)&nbsp;the founder shares are subject to certain transfer restrictions, as
described in more detail below, and (iii)&nbsp;our sponsor, officers and directors have entered into a letter agreement with us, pursuant
to which they have agreed (A)&nbsp;to waive their redemption rights with respect to their founder shares and public shares in connection
with the completion of our initial business combination and (B)&nbsp;to 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 12 months from the closing
of this offering (or up to 18 months from the closing of this offering if we extend the period of time to consummate a business combination
by the full amount of time without shareholder approval), 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 and
(iv)&nbsp;the founder shares will automatically convert into Class&nbsp;A ordinary shares at the time of our initial business combination,
or earlier at the option of the holder, on a one-for-one basis, subject to adjustment pursuant to certain anti-dilution rights, as described
herein and in our amended and restated memorandum and articles of association.&nbsp;If we submit our initial business combination to
our public shareholders for a vote, Maxim (and its designees), our sponsor, officers and directors have agreed (and their permitted transferees
will agree), pursuant to the terms of a letter agreement entered into with us, to vote any founder shares, private placement shares and
Representative&rsquo;s Shares held by them in favor of our initial business combination. As a result, in addition to our initial shareholder&rsquo;s
founder shares and private placement shares and the Representative&rsquo;s Shares, we would need only 1,798,751, or 32.7% (assuming all
issued and outstanding shares are voted and the over-allotment option is not exercised), 143,751, or 2.9% (assuming only the minimum
number of shares representing a quorum are voted and the over-allotment option is not exercised), of the 5,500,000 public shares sold
in this offering to be voted in favor of a transaction (if the approval requirement was a majority of shares voted and the minimum number
of shares required for a quorum attended the meeting and assuming the over-allotment option has not been exercised) in order to have
our initial business combination approved. </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; text-indent: 0.25in">The Class&nbsp;B ordinary
shares will automatically convert into Class&nbsp;A ordinary shares at the time of our initial business combination on a one-for-one basis,
or earlier at the option of the holder, on a one-for-one basis, subject to adjustment pursuant to certain anti-dilution rights, as described
herein and in our amended and restated memorandum and articles of association. In the case that additional Class&nbsp;A ordinary shares,
or equity-linked securities, are issued or deemed issued in excess of the amounts sold in this offering and related to the closing of
the business combination, the ratio at which Class&nbsp;B ordinary shares shall convert into Class&nbsp;A ordinary shares will be adjusted
(unless the holders of a majority of the issued and outstanding Class&nbsp;B ordinary shares agree to waive such anti-dilution adjustment
with respect to any such issuance or deemed issuance) so that the number of Class&nbsp;A ordinary shares issuable upon conversion of all
Class&nbsp;B ordinary shares will equal, in the aggregate, 20% of the sum of all ordinary shares issued and outstanding upon completion
of this offering, including pursuant to the Over-Allotment Option, plus all Class&nbsp;A ordinary shares issued or deemed issued, or issuable
upon the conversion or exercise of any equity-linked securities issued or deemed issued in connection with or in relation to the business
combination (excluding any shares or equity-linked securities issued, or to be issued, to any seller in the initial business combination
or any private placement-equivalent units issued to our sponsor or its affiliates upon conversion of loans made to us). Holders of founder
shares may also elect to convert their Class&nbsp;B ordinary shares into an equal number of Class&nbsp;A ordinary shares, 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 our Class&nbsp;A ordinary shares 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 adjustment if such shares are issuable upon the conversion or exercise of convertible securities or similar 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-align: justify; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">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)&nbsp;six months 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 the Class&nbsp;A ordinary shares equal or exceed $12.00 per share (as adjusted for share splits, share
capitalizations, rights issuances, subdivisions, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading
day period commencing after our initial business combination, or (y)&nbsp;the date on which we complete a liquidation, merger, share exchange,
reorganization or other similar transaction after the completion of our initial business combination that results in all of our public
shareholders having the right to exchange their Class&nbsp;A ordinary shares for cash, securities or other property. </FONT>In addition,
we could agree to permit the holders of our founder shares to transfer shares or agree to cancel such securities. Although no such transfers
or cancellations are contemplated, we could agree to permit such transfer or cancellation to facilitate the closing of a 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: 182; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->171<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B>Register of Members</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-align: justify; text-indent: 0.25in">Under the Companies Act,
we must keep a register of members and there shall be entered therein:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 95%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the names and addresses of the members of the company;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the number of each class and series of registered shares held by each member;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the date on which the name of any person was entered on the register as a member; and</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the date on which any person ceased to be a member.</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; text-align: justify; text-indent: 0.25in">Under British Virgin Islands
law, the register of members of our company is prima facie evidence of the matters set out therein (i.e. the register of members will
raise a presumption of fact on the matters referred to above unless rebutted) and a member registered in the register of members shall
be deemed as a matter of British Virgin Islands law to have legal title to the shares as set against its name in the register of members.
Upon the closing of this public offering, the register of members shall be immediately updated to reflect the issue of shares by us. Once
our register of members has been updated, the shareholders recorded in the register of members shall be deemed to have legal title to
the shares set against their name. However, there are certain limited circumstances where an application may be made to a British Virgin
Islands court for a determination on whether the register of members reflects the correct legal position. Further, the British Virgin
Islands court has the power to order that the register of members maintained by a company should be rectified where it considers that
the register of members does not reflect the correct legal position. If an application for an order for rectification of the register
of members were made in respect of our ordinary shares, then the validity of such shares may be subject to re-examination by a British
Virgin Islands court.</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>Preference Shares</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-align: justify; text-indent: 0.25in">Our amended and restated
memorandum and articles of association will provide that preference shares 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 shareholder approval, issue preference shares with voting and other rights that could
adversely affect the voting power and other rights of the holders of the ordinary shares and could have anti-takeover effects. The ability
of our Board of Directors to issue preference shares without shareholder 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 preference shares outstanding at the date hereof. Although
we do not currently intend to issue any preference shares, we cannot assure you that we will not do so in the future. No preference shares
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; text-align: justify"><I>Private Placement Units</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; text-align: justify; text-indent: 0.25in"> The private
placement units will be identical to the units sold in this offering, except as describe in this prospectus. The private placement
units will be sold in a private placement that will close simultaneously with the closing of this offering, including the
over-allotment option, as applicable. The private placement units (including the Class&nbsp;A ordinary shares issuable upon
conversion of the private placement rights) will not be transferable, assignable or salable until the completion of our initial
business combination (except, among other limited exceptions as described under &ldquo;Principal Shareholders &mdash;
Transfers&nbsp;of Founder Shares and Private Placement Units,&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. There will be no redemption rights or liquidating distributions from the trust account with respect to the founder
shares, private placement shares or private placement rights. The rights will expire worthless if we do not consummate a business
combination within the allotted 12-month period (or up to 18 months from the completion of this offering if we extend the period of
time to consummate a business combination by the full amount of time without shareholder approval). Our sponsor has agreed to waive
its redemption rights with respect to its private placement shares (i)&nbsp;in connection with the consummation of a business
combination, (ii)&nbsp;in connection with a shareholder vote to amend our amended and restated memorandum and articles of
association 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 12 months after the closing of this offering (or up to 18 months from the completion of this
offering if we extend the period of time to consummate a business combination by the full amount of time) and (iii)&nbsp;if we fail
to consummate a business combination within 12 months after the closing of this offering (or up to 18 months from the completion of
this offering if we extend the period of time to consummate a business combination by the full amount of time) or if we liquidate
prior to the expiration of the 12-month period (or up to 18 months from the completion of this offering if we extend the period of
time to consummate a business combination by the full amount of time). However, our sponsor will be entitled to redemption rights
with respect to any public shares held by it if we fail to consummate a business combination or liquidate within the 12-month period
(or up to 18 months if we extend the period of time to consummate a business combination by the full amount of time). Otherwise, the
private placement units have terms and provisions that are identical to those of the units being sold 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"></P>

<!-- Field: Page; Sequence: 183; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->172<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B>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-align: justify; text-indent: 0.25in">Each holder of a right will
receive one-fourth (1/4) of one Class&nbsp;A ordinary share upon consummation of our initial business combination, even if the holder
of such right redeemed all Class&nbsp;A ordinary shares held by it in connection with the initial business combination. No additional
consideration will be required to be paid by a holder of rights in order to receive its additional shares upon consummation of an initial
business combination, as the consideration related thereto has been included in the unit purchase price paid for by investors in this
offering. If we enter into a definitive agreement for a business combination in which we will not be the surviving entity, the definitive
agreement will provide for the holders of rights to receive the same per share consideration the holders of the Class&nbsp;A ordinary
shares will receive in the transaction on an as-converted into Class&nbsp;A ordinary share basis, and each holder of a right will be required
to affirmatively convert its rights in order to receive the 1/4 share underlying each right (without paying any additional consideration)
upon consummation of the business combination. More specifically, the right holder will be required to indicate its election to convert
the rights into underlying shares as well as to return the original rights certificates to 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; text-align: justify; text-indent: 0.25in">If we are unable to complete
an initial business combination within the required time period and we liquidate the funds held in the trust account, holders of rights
will not receive any such funds with respect to their rights, nor will they receive any distribution from our assets held outside of the
trust account with respect to such rights, and the rights will expire worthless.</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; text-indent: 0.25in">As soon as practicable upon
the consummation of our initial business combination, we will direct registered holders of the rights to return their rights to our rights
agent. Upon receipt of the rights, the rights agent will issue to the registered holder of such rights the number of full Class&nbsp;A
ordinary shares to which it is entitled. We will notify registered holders of the rights to deliver their rights to the rights agent promptly
upon consummation of such business combination and have been informed by the rights agent that the process of exchanging their rights
for Class&nbsp;A ordinary shares should take no more than a matter of days. The foregoing exchange of rights is solely ministerial in
nature and is not intended to provide us with any means of avoiding our obligation to issue the shares underlying the rights upon consummation
of our initial business combination. Other than confirming that the rights delivered by a registered holder are valid, we will have no
ability to avoid delivery of the shares underlying the rights. Nevertheless, there are no contractual penalties for failure to deliver
securities to the holders of the rights upon consummation of 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; text-align: justify; text-indent: 0.25in">The shares issuable upon
conversion of the rights will be freely tradable (except to the extent held by affiliates of ours). We will not issue fractional shares
upon conversion of the rights. Fractional shares will either be rounded down to the nearest whole share or otherwise addressed in accordance
with the applicable provisions of British Virgin Islands law. As a result, you must hold rights in multiples of 4 in order to receive
shares for all of your rights upon closing of a business combination. If we are unable to complete an initial business combination within
the required time period and we liquidate the funds held in the trust account, holders of rights will not receive any of such funds with
respect to their rights, nor will they receive any distribution from our assets held outside of the trust account with respect to such
rights, and the rights will expire worthless. Further, there are no contractual penalties for failure to deliver securities to the holders
of the rights upon consummation of an initial business combination. Accordingly, the rights may 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"></P>

<!-- Field: Page; Sequence: 184; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->173<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">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 rights 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;<B><I>Risk Factors &mdash; Our rights 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 rights, which could limit the ability of our rights holders to obtain a favorable judicial forum for disputes
with our company</I></B>&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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Dividends</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-align: justify; text-indent: 0.25in">We have not paid any cash
dividends on our ordinary shares to date and do not intend to pay cash dividends prior to the completion of a business combination. The
payment of cash dividends in the future will be dependent upon our revenues and earnings, if any, capital requirements and general financial
condition subsequent to completion of a business combination. The payment of any cash dividends subsequent to a business combination will
be within the discretion of our Board of Directors at such time. In addition, our Board of Directors is not currently contemplating and
does not anticipate declaring any share capitalizations in the foreseeable future, except if we increase the size of the offering, in
which case we will effect a share capitalization with respect to our Class&nbsp;B ordinary shares immediately prior to the consummation
of the offering in such amount as to maintain the ownership of founder shares by our sponsor prior to this offering at 20% of our issued
and outstanding ordinary shares upon the consummation of this offering (excluding the private placement shares). 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; text-align: justify"><B>Our Transfer Agent and Right Agent</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-align: justify; text-indent: 0.25in">The transfer agent for our
ordinary shares and right agent for our rights is Continental Stock Transfer&nbsp;&amp; Trust Company. We have agreed to indemnify Continental
Stock Transfer&nbsp;&amp; Trust Company in its roles as transfer agent, and right agent, its agents and each of its shareholders, directors,
officers and employees against all liabilities, including judgments, costs and reasonable counsel fees 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">&nbsp;</P>

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

<!-- Field: Page; Sequence: 185; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->174<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>BRITISH VIRGIN ISLANDS COMPANY CONSIDERATIONS</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-align: justify; text-indent: 0.25in">Our corporate affairs are
governed by our amended and restated memorandum and articles of association and the provisions of applicable British Virgin Islands law,
including the Companies Act. The Companies Act differs from laws applicable to United States corporations and their shareholders. Set
forth below is a summary of some significant differences between the provisions of the Companies Act applicable to us and the laws applicable
to companies incorporated in the United States and their shareholders. A brief discussion of certain other provisions of the Companies
Act and British Virgin Islands law also follows.</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; text-indent: 0.25in">We cannot predict whether
British Virgin Islands Courts would reach the same conclusions based on a particular set of facts as the U.S. courts would be expected
to reach. Thus, you may have more difficulty in protecting your interests in the face of actions by the management, directors or controlling
shareholders than would shareholders of a corporation incorporated in a United States jurisdiction, which has developed a substantial
body of case law. The following table provides a comparison between the statutory provisions of the Companies Act together with the provisions
of our amended and restated memorandum and articles of association) and the Delaware General Corporation Law relating to shareholders&rsquo;
rights.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 49%; border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>British Virgin Islands</B></FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 49%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Delaware</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-top: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Shareholder Meetings</U></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Held at a time and place as determined by the directors</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">May&nbsp;be held at such time or place as designated in the charter or the by-laws, or if not so designated, as determined by the Board of Directors</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">May&nbsp;be held within or outside the British Virgin Islands</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">May&nbsp;be held within or without Delaware</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notice:</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notice:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under our amended and restated memorandum and articles of association, a copy of the notice of any meeting shall be given not fewer than ten (10)&nbsp;days before the date of the proposed meeting to those persons whose names appear in the register of members on the date the notice is given and are entitled to vote at the meeting.</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Whenever shareholders are required to take any action at a meeting, a written notice of the meeting shall be given which shall state the place, if any, date and hour of the meeting, and the means of remote communication, if any</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Shareholders&rsquo; Voting Rights</U></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any person authorized to vote may be represented at a meeting by a proxy who may speak and vote on behalf of the member.</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any person authorized to vote may authorize another person or persons to act for him by proxy</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Quorum is fixed by our amended and restated memorandum and articles of association, to consist of the holder or holders present in person or by proxy entitled to exercise at least 50 percent of the voting rights of the shares of each class or series of shares entitled to vote as a class or series thereon.</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For stock corporations, the charter or by-laws may specify the number to constitute a quorum but in no event shall a quorum consist of less than one-third of shares entitled to vote at a meeting. In the absence of such specifications, a majority of shares shall constitute a quorum</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under our amended and restated memorandum and articles of association, subject to any rights or restrictions attached to any shares, at any general meeting on a show of hands every shareholder who is present in person (or, in the case of a shareholder being a corporation, by its duly authorized representative) or by proxy shall have one vote and on a poll every shareholder present in person (or, in the case of a shareholder being a corporation, by its duly appointed representative) or by proxy shall have one vote for each share which such shareholder is the holder. Voting at any meeting of the shareholders is by show of hands unless a poll is demanded. A poll may be demanded by shareholders present in person or by proxy if the shareholder disputes the outcome of the vote on a proposed resolution and the chairman shall cause a poll to be taken.</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For non-stock companies, the charter or by-laws may specify the number of shareholders to constitute a quorum. In the absence of this, one-third of the shareholders shall constitute a quorum</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"></P>

<!-- Field: Page; Sequence: 186; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->175<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>

<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: 49%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes in the rights attaching to the ordinary shares require the approval by way of resolution of a majority of those outstanding ordinary shares attending at the meeting and voting in respect of such resolution.</FONT></TD>
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 49%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Except as provided in the charter documents, changes in the rights of shareholders as set forth in the charter documents require approval of a majority of its shareholders</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The rights attaching to the preferred shares may be changed by way of a resolution of a majority of the votes attending and voting at the relevant meeting or class meeting.</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">However, in the case of both the ordinary shares and the preferred shares, the above is subject to any greater majority as required under our amended and restated memorandum and articles of association or the Companies Act, provided that for these purposes the creation, designation or issue of preferred shares with rights and privileges ranking in priority to an existing class of shares shall be deemed not to be a variation of the rights of such existing class.</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The amended and restated memorandum and articles of association do not provide for cumulative voting in the election of directors</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The memorandum and articles of association may provide for cumulative voting</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If we decide to seek shareholder approval in respect of the consummation of our initial business combination, such approval may be by a majority vote of shareholders who being so entitled attend and vote at the general meeting</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Approval of our initial business combination may be by a majority of outstanding shares if such transaction involves the merger of such entity</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">All other matters to
    be decided upon by the shareholders require a majority vote of shareholders who being so entitled attend and vote at the general
    meeting, unless the Companies Act requires a higher majority. Our amended and restated memorandum and articles of association also
    may be amended by resolution of directors, including to create the rights, preferences, designations and limitations attaching to
    any blank check preferred shares.</FONT> </TD>
    <TD STYLE="text-align: justify"> &nbsp; </TD>
    <TD STYLE="text-align: justify"> &nbsp; </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Directors</U></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Board must consist of at least one director</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Board must consist of at least one member</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maximum and minimum number of directors can be changed by an amendment to the articles of association, with such amendment being passed by a resolution of shareholders or a resolution of directors. Directors are appointed for an indefinite term or a term fixed by the resolution of shareholders or a resolution of directors (as described under &ldquo;Directors&rdquo; below). However, the directors may by resolution appoint a replacement director to fill a casual vacancy arising on the resignation, disqualification or death of a director. The replacement director will serve for a term (if any) not exceeding the term that remained when the person who has ceased to be a director ceased to hold office.</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Number of board members shall be fixed by the by-laws, unless the charter fixes the number of directors, in which case a change in the number shall be made only by amendment of the charter</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"></P>

<!-- Field: Page; Sequence: 187; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->176<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>

<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: 50%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Directors do not have to be independent</FONT></TD>
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 49%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Directors do not have to be independent</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under our amended and restated memorandum and articles of association, a director may only be elected and may not be removed from office by a resolution of holders of our founder shares prior to the consummation of our business combination.</FONT></TD>
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 49%; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Fiduciary Duties</U></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Directors and officers owe fiduciary duties at both common law and under statute as follows:</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Directors and officers must act in good faith, with the care of a prudent person, and in the best interest of the corporation.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 24pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Duty to act honestly and in good faith in what the directors believe to be in the best interests of the company;</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Directors and officers must refrain from self-dealing, usurping corporate opportunities and receiving improper personal benefits.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%; padding-left: 24pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Duty to exercise powers for a proper purpose and directors shall not act, or agree to act, in a matter that contravenes the Companies Act or the amended and restated memorandum and articles of association;</FONT></TD>
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 49%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Decisions made by directors and officers on an informed basis, in good faith and in the honest belief that the action was taken in the best interest of the corporation will be protected by the &ldquo;business judgment rule.&rdquo;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 24pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Duty to exercise the care, diligence and skill that a reasonable director would exercise in the circumstances taking into account, without limitation:</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT></TD>
    <TD STYLE="width: 46%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the nature of the company;</FONT></TD>
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 50%; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the nature of the decision; and</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the position of the director and the nature of the responsibilities undertaken by him.</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Companies Act provides that, a director of a company shall, immediately after becoming aware of the fact that he is interested in a transaction entered into, or to be entered into, by the company, disclose the interest to the board of the company. However, the failure of a director to disclose that interest does not affect the validity of a transaction entered into by the director or the company, so long as the transaction was not required to be disclosed because the transaction is between the company and the director himself and is in the ordinary course of business and on usual terms and conditions. Additionally, the failure of a director to disclose an interest does not affect the validity of the transaction entered into by the company if (a)&nbsp;the material facts of the interest of the director in the transaction are known by the shareholders and the transaction is approved or ratified by a resolution of shareholders entitled to vote at a meeting of shareholders or (b)&nbsp;the company received fair value for the transaction.</FONT></TD>
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 49%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Directors may vote on a matter in which they have an interest so long as the director has disclosed any interests in the transaction.</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"></P>

<!-- Field: Page; Sequence: 188; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->177<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>

<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: 49%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to the Companies Act, the company&rsquo;s amended and restated memorandum and articles of association, so long as a director has disclosed any interests in a transaction entered into or to be entered into by the company to the board he/she may:</FONT></TD>
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 49%; text-align: justify">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%; padding-left: 24pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">vote on a matter relating to the transaction;</FONT></TD>
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 49%; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 24pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 24pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">attend a meeting of directors at which a matter relating to the transaction arises and be included among the directors present at the meeting for the purposes of a quorum; and</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 24pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 24pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">sign a document on behalf of the company, or do any other thing in his capacity as a director, that relates to the transaction.</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 24pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Shareholders&rsquo; Derivative Actions</U></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Generally speaking, the company is the proper plaintiff in any action. A shareholder may, with the permission of the British Virgin Islands Court, bring an action or intervene in a matter in the name of the company, in certain circumstances. Such actions are known as derivative actions. The British Virgin Islands Court may only grant permission to bring a derivative action where the following circumstances apply:</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In any derivative suit instituted by a shareholder of a corporation, it shall be averred in the complaint that the plaintiff was a shareholder of the corporation at the time of the transaction of which he complains or that such shareholder&rsquo;s stock thereafter devolved upon such shareholder by operation of law.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 24pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the company does not intend to bring, diligently&nbsp;continue or defend or discontinue the proceedings; and</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Complaint shall set forth with particularity the efforts of the plaintiff to obtain the action by the board or the reasons for not making such effort.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%; padding-left: 24pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">it is in the interests of the company that the conduct of the proceedings not be left to the directors or to the determination of the shareholders as a whole.</FONT></TD>
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 49%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Such action shall not be dismissed or compromised without the approval of the Chancery Court.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 24pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">When considering whether to grant leave, the British Virgin Islands Court is also required to have regard to the following matters:</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">whether the shareholder is acting in good faith;</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 0pt 24pt; text-align: justify">whether a derivative action is in the
    interests of the company, taking into account the directors&rsquo; views on commercial matters;</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 0pt 24pt; text-align: justify">whether the action is likely to succeed;</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 0pt 24pt; text-align: justify">the costs of the proceedings in relation
    to the relief likely to be obtained; and</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 0pt 24pt; text-align: justify">whether another alternative remedy to
    the derivative action is available.</P></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If we were a Delaware corporation, a shareholder whose shares were cancelled in connection with our dissolution, would not be able to bring a derivative action against us after the ordinary shares have been cancelled.</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"></P>

<!-- Field: Page; Sequence: 189; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->178<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">As noted above, the Companies
Act differs from laws applicable to United States corporations and their shareholders. Set forth below is a summary of some of the significant
provisions of the Companies Act applicable to us and the laws applicable to companies incorporated in the United States and their shareholders.</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; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Mergers
and Similar Arrangements.</I></FONT>&nbsp;The Companies Act provides for mergers as that expression is understood under United States
corporate law. Under the Companies Act, two or more companies may either merge into one of such existing companies (the &ldquo;surviving
company&rdquo;) or consolidate with both existing companies ceasing to exist and forming a new company (the &ldquo;consolidated company&rdquo;).
The procedure for a merger or consolidation between the company and another company (which need not be a BVI company, and which may be
the company&rsquo;s parent or subsidiary, but need not be) is set out in the Companies Act. The directors of the BVI company or BVI companies
which are to merge or consolidate must approve a written plan of merger or consolidation which, with the exception of a merger between
a parent company and its subsidiary, must also be approved by a resolution of a majority of the shareholders who are entitled to vote
and actually vote at a quorate meeting of shareholders or by written resolution of the shareholders of the BVI company or BVI companies
which are to merge. A foreign company which is able under the laws of its foreign jurisdiction to participate in the merger or consolidation
is required by the Companies Act to comply with the laws of that foreign jurisdiction in relation to the merger or consolidation. The
company must then execute articles of merger or consolidation, containing certain prescribed details. The plan and articles of merger
or consolidation are then filed with the Registrar of Corporate Affairs in the British Virgin Islands. The Registrar then registers the
articles of merger or consolidation and any amendment to the memorandum and articles of the surviving company in a merger or the memorandum
and articles of association of the new consolidated company in a consolidation and issue a certificate of merger or consolidation (which
is conclusive evidence of compliance with all requirements of the Companies Act in respect of the merger or consolidation). The merger
is effective on the date that the articles of merger are registered with the Registrar or on such subsequent date, not exceeding thirty
days, as is stated in the articles of merger or consolidation.</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; text-indent: 0.25in">As soon as a merger becomes
effective: (a)&nbsp;the surviving company or consolidated company (so far as is consistent with its memorandum and articles of association,
as amended or established by the articles of merger or consolidation) has all rights, privileges, immunities, powers, objects and purposes
of each of the constituent companies; (b)&nbsp;in the case of a merger, the memorandum and articles of association of any surviving company
are automatically amended to the extent, if any, that changes to its amended memorandum and articles of association are contained in the
articles of merger or, in the case of a consolidation, the memorandum and articles of association filed with the articles of consolidation
are the memorandum and articles of the consolidated company; (c)&nbsp;assets of every description, including choses-in-action and the
business of each of the constituent companies, immediately vest in the surviving company or consolidated company; (d)&nbsp;the surviving
company or consolidated company is liable for all claims, debts, liabilities and obligations of each of the constituent companies; (e)&nbsp;no
conviction, judgment, ruling, order, claim, debt, liability or obligation due or to become due, and no cause existing, against a constituent
company or against any member, director, officer or agent thereof, is released or impaired by the merger or consolidation; and (f)&nbsp;no
proceedings, whether civil or criminal, pending at the time of a merger by or against a constituent company, or against any member, director,
officer or agent thereof, are abated or discontinued by the merger or consolidation; but: (i)&nbsp;the proceedings may be enforced, prosecuted,
settled or compromised by or against the surviving company or consolidated company or against the member, director, officer or agent thereof;
as the case may be; or (ii)&nbsp;the surviving company or consolidated company may be substituted in the proceedings for a constituent
company. The Registrar shall strike off the register of companies each constituent company that is not the surviving company in the case
of a merger and all constituent companies in the case of a consolidation.</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; text-indent: 0.25in">If the directors determine
it to be in the best interests of the company, it is also possible for a merger to be approved as a Court approved plan of arrangement
or scheme of arrangement in accordance with the Companies Act. However, we do not anticipate the use of such statutory provisions because
we expect the required terms of the initial business combination will be capable of being achieved through other means, such as a merger
or consolidation (as described above), a share exchange, asset acquisition or control, through contractual arrangements, of an operating
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: 190; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->179<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Poison
Pill Defenses.&#8239;&#8239;&#8239;&#8239;</I></FONT>Under the Companies Act there are no provisions, which specifically prevent the issuance of preferred shares
or any such other &lsquo;poison pill&rsquo; measures. The memorandum and articles of association of the company also do not contain any
express prohibitions on the issuance of any preferred shares. Therefore, the directors without the approval of the holders of ordinary
shares may issue preferred shares that have characteristics that may be deemed to be anti-takeover. Additionally, such a designation
of shares may be used in connection with plans that are poison pill plans. However, as noted above under the Companies Act, a director
in the exercise of his powers and performance of his duties is required to act honestly and in good faith in what the director believes
to be the best interests of the company.</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; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Directors:&#8239;&#8239;&#8239;&#8239;&#8239;</I></FONT>Our
directors are appointed by our Class&nbsp;B ordinary shareholders prior to the closing of a business combination and by our shareholders
or directors after closing of a business combination. After the closing of a business combination, each director holds office for the
term, if any, fixed by a resolution of our shareholders or a resolution of our directors, and if no such term is fixed on the appointment
of a director, the director shall serve indefinitely until his earlier death, resignation or removal. After closing of a business combination,
the directors may by resolution appoint a replacement director to fill a casual vacancy arising on the resignation, disqualification
or death of a director. The replacement director will then hold office for a term (if any) not exceeding the term that remained when
the person who has ceased to be a director ceased to hold office. Under our amended and restated memorandum and articles of association,
a director may not be appointed or removed from office by a resolution of our Class&nbsp;A ordinary shareholders or our directors prior
to the consummation of our business combination. There is nothing under the laws of the British Virgin Islands, which specifically prohibits
or restricts the creation of cumulative voting rights for the election of our directors. Our amended and restated memorandum and articles
of association do not provide for cumulative voting for such elections.</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; text-indent: 0.25in">There are no share ownership
qualifications for directors.</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; text-indent: 0.25in">Meetings of our Board of
Directors may be convened at any time by any of our directors.</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; text-indent: 0.25in">A meeting of our Board of
Directors will be quorate if at least a majority of the directors are present or represented by an alternate director. At any meeting
of our directors, each director, whether by his or her presence or by his or her alternate, is entitled to one vote. Questions arising
at a meeting of our Board of Directors are required to be decided by simple majority votes of the directors present or represented at
the meeting. In the case of an equality of votes, the chairman of the meeting shall have a second or deciding vote. Our Board of Directors
also may pass resolutions without a meeting by unanimous written consent.</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; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Alternate
Directors:&#8239;&#8239;&#8239;&#8239;</I></FONT>Our amended and restated memorandum and articles of association provide that, following the consummation of our
initial business combination, each of our directors may appoint an alternate (who need not be another director of the company). The alternate
of any director shall be entitled to attend board meetings in the absence of the director who appointed him or her and to vote or give
written consent in place of that director until the alternate&rsquo;s lapses or is terminated (an alternate&rsquo;s appointment, if he
has not already done so, will automatically terminate on his appointor ceasing to be a director). However, a director may not appoint
an alternate prior 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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Agents:&#8239;&#8239;&#8239;&#8239;</I></FONT>Our
Board of Directors has the power to appoint any person (whether or not a director or other officer of the company) to be an agent of
the company. Our amended and restated memorandum and articles of association provide that an agent of the company shall be able to exercise
such powers and authorities of the directors (which may include the power to affix the company&rsquo;s seal) as the directors may allow
when appointing the agent, except that, as stated in our amended and restated memorandum and articles of association and the Companies
Act, no agent shall have be given any power or authority to amend the memorandum or the articles in place of the directors or members;
to designate committees of directors; to delegate powers to a committee of directors; to appoint directors; to appoint an agent; to approve
a plan of merger, consolidation or arrangement; or to make a declaration of solvency or to approve a liquidation plan. When appointing
an agent of the company, our directors may authorize the agent to appoint one or more substitutes or delegates to exercise some or all
of the powers conferred on the agent. Our directors may remove an agent and may revoke or vary a power conferred on him.</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; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Indemnification
of Directors:&#8239;&#8239;&#8239;&#8239;</I></FONT>Our amended and restated memorandum and articles of association provide that, subject to certain limitations,
the company shall indemnify its directors and officers against all expenses, including legal fees, and against all judgments, fines and
amounts paid in settlement and reasonably incurred in connection with legal, administrative or investigative proceedings. Such indemnity
only applies if the person acted honestly and in good faith with a view to the best interests of the company and, in the case of criminal
proceedings, the person had no reasonable cause to believe that their conduct was unlawful. The decision of the directors as to whether
the person acted honestly and in good faith and with a view to the best interests of the company and as to whether the person had no
reasonable cause to believe that his conduct was unlawful is, in the absence of fraud, sufficient for the purposes of the amended and
restated memorandum and articles of association, unless a question of law is involved. The termination of any proceedings by any judgment,
order, settlement, conviction or the entering of a nolle prosequi does not, by itself, create a presumption that the person did not act
honestly and in good faith and with a view to the best interests of the company or that the person had reasonable cause to believe that
his conduct was unlawful.</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: 191; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->180<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Directors
and Conflicts of Interest</I></FONT>.&#8239;&#8239;&#8239;&#8239;&#8239;As noted in the table above, pursuant to the Companies Act and our amended
and restated memorandum and articles of association, a director of a company who has an interest in a transaction and who has declared
such interest to the other directors, may:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT></TD>
    <TD STYLE="width: 96%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">vote on a matter relating to the transaction;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT></TD>
    <TD STYLE="width: 96%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">attend a meeting of directors at which a matter relating to the transaction arises and be included among the directors present at the meeting for the purposes of a quorum; and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT></TD>
    <TD STYLE="width: 96%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">sign a document on behalf of the company, or do any other thing in his capacity as a director, that relates to the transaction.</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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Shareholders&rsquo;
Suits.</I></FONT>&nbsp;&nbsp;&nbsp;&nbsp;Our British Virgin Islands counsel is not aware of any reported class action having been brought
in a British Virgin Islands court. The enforcement of the company&rsquo;s rights will ordinarily be a matter for its directors.</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; text-indent: 0.25in">In certain limited circumstances,
a shareholder has the right to seek various remedies against the company in the event the directors are in breach of their duties under
the Companies Act. Pursuant to Section&nbsp;184B of the Companies Act, if a company or director of a company engages in, or proposes to
engage in or has engaged in, conduct that contravenes the provisions of the Companies Act or the memorandum or articles of association
of the company, the British Virgin Islands Court may, on application of a shareholder or director of the company, make an order directing
the company or director to comply with, or restraining the company or director from engaging in conduct that contravenes the Companies
Act or the memorandum or articles. Furthermore, pursuant to section 184I(1)&nbsp;of the Companies Act a shareholder of a company who considers
that the affairs of the company have been, are being or likely to be, conducted in a manner that is, or any acts of the company have been,
or are likely to be oppressive, unfairly discriminatory, or unfairly prejudicial to him in that capacity, may apply to the British Virgin
Islands Court for an order which, inter alia, can require the company or any other person to pay compensation to the shareholders.</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; text-indent: 0.25in">The Companies Act provides
for a series of remedies available to shareholders. Where a company incorporated under the Companies Act conducts some activity, which
breaches the Act or the company&rsquo;s memorandum and articles of association, the court can issue a restraining or compliance order.
Under the Companies Act, a shareholder of a company may bring an action against the company for breach of a duty owed by the company to
him as a member. A shareholder also may, with the permission of the British Virgin Islands Court, bring an action or intervene in a matter
in the name of the company, in certain circumstances. Such actions are known as derivative actions. As noted above, the British Virgin
Islands Court may only grant permission to bring a derivative action where the following circumstances apply:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 96%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the company does not intend to bring, diligently continue or defend or discontinue proceedings; and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 96%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">it is in the interests of the company that the conduct of the proceedings not be left to the directors or to the determination of the shareholders as a whole.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 96%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">when considering whether to grant leave, the British Virgin Islands Court is also required to have regard to the following matters:</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"></P>

<!-- Field: Page; Sequence: 192; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->181<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>

<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: 2%">&nbsp;</TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 96%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">whether the shareholder is acting in good faith;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 96%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">whether a derivative action is in the company&rsquo;s best interests, taking into account the directors&rsquo; views on commercial matters;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 96%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">whether the action is likely to proceed;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 96%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the costs of the proceedings; and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 96%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">whether an alternative remedy is available.</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; text-align: justify; text-indent: 0.25in">Any member of a company may
apply to the British Virgin Islands Court under the Insolvency Act for the appointment of a liquidator to liquidate the company and the
court may appoint a liquidator for the company if it is of the opinion that it is just and equitable to do so.</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; text-indent: 0.25in">The Companies Act provides
that any shareholder of a company is entitled to payment of the fair value of his shares upon dissenting from any of the following: (a)&nbsp;a
merger if the company is a constituent company, unless the company is the surviving company and the member continues to hold the same
or similar shares; (b)&nbsp;a consolidation if the company is a constituent company; (c)&nbsp;any sale, transfer, lease, exchange or other
disposition of more than 50&nbsp;per cent in value of the assets or business of the company if not made in the usual or regular course
of the business carried on by the company but not including: (i)&nbsp;a disposition pursuant to an order of the court having jurisdiction
in the matter, (ii)&nbsp;a disposition for money on terms requiring all or substantially all net proceeds to be distributed to the members
in accordance with their respective interest within one year after the date of disposition, or (iii)&nbsp;a transfer pursuant to the power
of the directors to transfer assets for the protection thereof; (d)&nbsp;a compulsory redemption of 10&nbsp;per cent, or fewer of the
issued shares of the company required by the holders of 90 percent, or more of the shares of the company pursuant to the terms of the
Act; and (e)&nbsp;a plan of arrangement, if permitted by the British Virgin Islands Court.</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; text-indent: 0.25in">Generally any other claims
against a company by its shareholders must be based on the general laws of contract or tort applicable in the British Virgin Islands or
their individual rights as shareholders as established by the company&rsquo;s memorandum and articles of association. There are common
law rights for the protection of shareholders that may be invoked, largely derived from English common law. Under the general English
company law known as the rule&nbsp;in Foss v. Harbottle, a court will generally refuse to interfere with the management of a company at
the insistence of a minority of its shareholders who express dissatisfaction with the conduct of the company&rsquo;s affairs by the majority
or the Board of Directors. However, every shareholder is entitled to seek to have the affairs of the company conducted properly according
to law and the constituent documents of the corporation. As such, if those who control the company have persistently disregarded the requirements
of company law or the provisions of the company&rsquo;s memorandum and articles of association, then the courts may grant relief. Generally,
the areas in which the courts will intervene are the following:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 96%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">a company is acting or proposing to act illegally or beyond the scope of its authority;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 96%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the act complained of, although not beyond the scope of the authority, could only be effected if duly authorized by more than the number of votes which have actually been obtained;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 96%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the individual rights of the plaintiff shareholder have been infringed or are about to be infringed; or</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></FONT></TD>
    <TD STYLE="width: 96%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">those who control the company are perpetrating a &ldquo;fraud on the minority.&rdquo;</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; text-align: justify; text-indent: 0.25in">Under the law of Delaware,
the rights of minority shareholders are similar to that which will be applicable to the shareholders of the company.</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; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Compulsory
Acquisition</I></FONT>:&#8239;&#8239;&#8239;&#8239;&#8239;Under the Companies Act, subject to any limitations in a company&rsquo;s memorandum or
articles, members holding 90% of the votes of the outstanding shares entitled to vote, and members holding 90% of the votes of the outstanding
shares of each class of shares entitled to vote, may give a written instruction to the company directing the company to redeem the shares
held by the remaining members. Upon receipt of such written instruction, the company shall redeem the shares specified in the written
instruction, irrespective of whether or not the shares are by their terms redeemable. The company shall give written notice to each member
whose shares are to be redeemed stating the redemption price and the manner in which the redemption is to be effected. A member whose
shares are to be so redeemed is entitled to dissent from such redemption, and to be paid the fair value of his shares, as described under
 &ldquo;Shareholders&rsquo; Suits&rdquo; above.</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: 193; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->182<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Share
Repurchases and Redemptions</I></FONT>:&#8239;&#8239;&#8239;&#8239;&#8239;As permitted by the Companies Act and our amended and restated memorandum
and articles of association, shares may be repurchased, redeemed or otherwise acquired by us. Depending on the circumstances of the redemption
or repurchase, our directors may need to determine that immediately following the redemption or repurchase we will be able to satisfy
our debts as they fall due and the value of our assets exceeds our liabilities. Our directors may only exercise this power on our behalf,
subject to the Companies Act, our amended and restated memorandum and articles of association and to any applicable requirements imposed
from time to time by the SEC, Nasdaq or any other stock exchange on which our securities are listed.</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; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Dividends</I></FONT>:&#8239;&#8239;&#8239;&#8239;&#8239;Subject
to the Companies Act and our amended and restated memorandum and articles of association, our directors may declare dividends at a time
and amount they think fit if they are satisfied, on reasonable grounds, that, immediately after distribution of the dividend, the value
of our assets will exceed our liabilities and we will be able to pay our debts as they fall due. No dividend shall carry interest against
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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Rights
of Non-resident or Foreign Shareholders and Disclosure of Substantial Shareholdings</I></FONT>:&#8239;&#8239;&#8239;&#8239;&#8239;There are no limitations
imposed by our amended and restated memorandum and articles of association on the rights of non-resident or foreign shareholders to hold
or exercise voting rights on our shares. In addition, there are no provisions in our amended and restated memorandum and articles of association
governing the ownership threshold above which shareholder ownership must be disclosed.</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; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Transfer
of Shares</I></FONT>:&#8239;&#8239;&#8239;&#8239;Subject to any applicable restrictions set forth in our amended and restated memorandum
and articles of association, any of our shareholders may transfer all or any of his or her shares by an instrument of transfer in the
usual or common form, in the case of listed shares, in any manner permitted by and in accordance with the rules&nbsp;of the relevant exchange,
or in any other form which our directors may approve.</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; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Inspection
of Books and Records</I></FONT>:&#8239;&#8239;&#8239;&#8239;Under the Companies Act, members of the general public, on payment of a nominal
fee, can obtain copies of the public records of a company available at the office of the Registrar which will include the company&rsquo;s
certificate of incorporation, its memorandum and articles of association (with any amendments) and records of license fees paid to date
and will also disclose any articles of dissolution, articles of merger and a register of charges if the company has elected to file such
a register.</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; text-indent: 0.25in">A member of a company is
entitled, on giving written notice to the company, to inspect:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the memorandum and articles;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the register of members;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the register of directors; and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</FONT></TD>
    <TD STYLE="width: 97%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the minutes of meetings and resolutions of members and of those classes of members of which he is a member;</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; text-align: justify; text-indent: 0.25in">and to make copies of or
take extracts from the documents and records referred to in (a)&nbsp;to (d)&nbsp;above.</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; text-indent: 0.25in">Subject to the amended and
restated memorandum and articles of association, the directors may, if they are satisfied that it would be contrary to the company&rsquo;s
interests to allow a member to inspect any document, or part of a document, specified in (b), (c)&nbsp;or (d)&nbsp;above, refuse to permit
the member to inspect the document or limit the inspection of the document, including limiting the making of copies or the taking of extracts
from the records.</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; text-indent: 0.25in">Where a company fails or
refuses to permit a member to inspect a document or permits a member to inspect a document subject to limitations, that member may apply
to the British Virgin Islands Court for an order that he should be permitted to inspect the document or to inspect the document without
limitation.</P>

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

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

<!-- Field: Page; Sequence: 194; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->183<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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; text-indent: 0.25in">&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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Dissolution;
Winding Up</I></FONT>:&#8239;&#8239;&#8239;&#8239;As permitted by the Companies Act and our amended and restated memorandum and articles
of association, we may be voluntarily liquidated under Part&nbsp;XII of the Companies Act by resolution of directors and resolution of
shareholders if we have no liabilities or we are able to pay our debts as they fall due.</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; text-indent: 0.25in">We also may be wound up in
circumstances where we are insolvent in accordance with the terms of the Insolvency Act.</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 Amended and Restated Memorandum and Articles of Association</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-align: justify; text-indent: 0.25in">Our amended and restated
memorandum and articles of association 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 approval of a majority of our
outstanding ordinary shares attending and voting on such 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; text-align: justify; text-indent: 0.25in">Our sponsor, who will beneficially
own more than 20% of our ordinary shares upon the closing of this offering, will participate in any vote to amend our amended and restated
memorandum and articles of association and will have the discretion to vote in any manner it chooses. Specifically, our amended and restated
memorandum and articles of association will provide, among other things, that:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%"> &nbsp; </TD>
    <TD STYLE="width: 2%"> <FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT> </TD>
    <TD STYLE="width: 95%; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">if we are
    unable to complete our initial business combination within 12 months from the closing of this offering (or up to 18 months from the
    closing of this offering if we extend the period of time to consummate a business combination by the full amount of time without
    shareholder approval), 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, 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
    (which interest shall be net of taxes payable and less up to $200,000 of interest to pay dissolution expenses) divided by the number
    of then outstanding public shares, which redemption will completely extinguish public shareholders&rsquo; rights as shareholders
    (including the right to receive further liquidation 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 shareholders and our Board of Directors,
    liquidate and dissolve;</FONT> </TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 95%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">prior to our initial business combination, we may not issue additional ordinary shares that would entitle the holders thereof to (i)&nbsp;receive funds from the trust account or (ii)&nbsp;vote on any initial business combination;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 95%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">although we do not intend to enter into a 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 another independent firm that commonly renders valuation opinions or from an independent accounting firm, that such a business combination is fair to our company from a financial point of view;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 95%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">if a shareholder vote on our initial business combination is not required by law and we do not decide to hold a shareholder vote for business or other legal reasons, we will offer to redeem our public shares pursuant to Rule&nbsp;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;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 95%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">so long as we obtain and maintain a listing for our securities on NASDAQ, our initial business combination must occur with one or more target businesses that together have an aggregate fair market value of at least 80% of our assets held in the trust account (excluding the 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></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: 195; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->184<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%"> &nbsp; </TD>
    <TD STYLE="width: 2%"> <FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT> </TD>
    <TD STYLE="width: 95%; text-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If our shareholders
    approve an amendment to our amended and restated memorandum and articles of association that would (i)&nbsp;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 12
    months from the closing of this offering (or up to 18 months from the closing of this offering if we extend the period of time to
    consummate a business combination by the full amount of time without shareholder approval) or (ii)&nbsp;with respect to the other
    provisions relating to shareholders&rsquo; rights or pre-business combination activity, we will provide our public shareholders with
    the opportunity to redeem all or a portion of their ordinary shares 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 (which interest shall be net of taxes payable) divided
    by the number of then outstanding public shares; and</FONT> </TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 95%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">we will not effectuate our initial business combination with another blank check company or a similar company with nominal operations.</FONT></TD></TR>
  </TABLE>
<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>Anti-Money Laundering &mdash; British Virgin
Islands</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-align: justify; text-indent: 0.25in">In order to comply with legislation
or regulations aimed at the prevention of money laundering, we are required to adopt and maintain anti-money laundering procedures, and
may require subscribers to provide evidence to verify their identity and source of funds. Where permitted, and subject to certain conditions,
we may also delegate the maintenance of our anti-money laundering procedures (including the acquisition of due diligence information)
to a suitable person.</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; text-indent: 0.25in">We reserve the right to request
such information as is necessary to verify the identity of a subscriber. In the event of delay or failure on the part of the subscriber
in producing any information required for verification purposes, we may refuse to accept the application, in which case any funds received
will be returned without interest to the account from which they were originally debited.</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; text-indent: 0.25in">If any person resident in
the British Virgin Islands knows or suspects that another person is engaged in money laundering or terrorist financing and the information
for that knowledge or suspicion came to their attention in the course of their business the person will be required to report his belief
or suspicion to the Financial Investigation Agency of the British Virgin Islands, pursuant to the Proceeds of Criminal Conduct Act 1997
(as amended). Such a report shall not be treated as a breach of confidence or of any restriction upon the disclosure of information imposed
by any enactment or otherwise.</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 our Amended and Restated Memorandum
and Articles of Association</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-align: justify; text-indent: 0.25in">Our authorized but unissued
ordinary shares and preference shares are available for future issuances without shareholder 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 ordinary shares and preference shares 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">&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-align: justify; text-indent: 0.25in">Immediately after this offering
we will have 7,402,500 (or 8,479,125 if the underwriters&rsquo; over-allotment option is exercised in full) ordinary shares outstanding.
Of these shares, the 5,500,000 Class&nbsp;A ordinary shares (or 6,325,000 shares 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&nbsp;144 under the Securities Act. All of the remaining 1,375,000
(or 1,581,250 if the underwriters&rsquo; over-allotment option is exercised in full) founder shares and all 280,000 (or 288,250 if the
underwriters&rsquo; over-allotment option is exercised in full) private placement units (including component securities contained therein)
are restricted securities under Rule&nbsp;144, in that they were issued in private transactions not involving a public offering, and are
subject to transfer restrictions as set forth 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"></P>

<!-- Field: Page; Sequence: 196; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->185<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>Rule&nbsp;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-align: justify; text-indent: 0.25in">Pursuant to Rule&nbsp;144,
a person who has beneficially owned restricted ordinary shares or rights for at least six months would be entitled to sell their securities
provided that (i)&nbsp;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)&nbsp;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&nbsp;13 or 15(d)&nbsp;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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Persons who have beneficially
owned restricted ordinary shares or rights 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">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 95%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1% of the total number of Class&nbsp;A ordinary shares then outstanding, which will equal 67,075 shares immediately after this offering (or 76,863 if the underwriters exercise their over-allotment option in full), on an as converted basis; or</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 95%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the average weekly reported trading volume of the ordinary shares during the four calendar weeks preceding the filing of a notice on Form&nbsp;144 with respect to the sale.</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; text-align: justify; text-indent: 0.25in">Sales by our affiliates under
Rule&nbsp;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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Restrictions on the Use of Rule&nbsp;144 by Shell Companies or Former
Shell Companies</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-align: justify; text-indent: 0.25in">Rule&nbsp;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&nbsp;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">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 90%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the issuer of the securities that was formerly a shell company has ceased to be a shell company;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 90%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the issuer of the securities is subject to the reporting requirements of Section&nbsp;13 or 15(d)&nbsp;of the Exchange Act;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 90%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the issuer of the securities has filed all Exchange Act reports and material required to be filed, as applicable, during the preceding 18 months (or such shorter period that the issuer was required to file such reports and materials), other than Current Reports on Form&nbsp;8-K; and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 90%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">at least one year has elapsed from the time that the issuer filed current Form&nbsp;10 type information with the SEC reflecting its status as an entity that is not a shell company.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt 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; text-indent: 0.25in">As a result, our sponsor
will be able to sell its founder shares and private placement units (including the component securities of the private placement units)
pursuant to Rule&nbsp;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">&nbsp;</P>

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

<!-- Field: Page; Sequence: 197; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->186<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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>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-align: justify; text-indent: 0.25in">The holders of founder shares,
private placement units, shares being issued to the underwriters of this offering, and units that may be issued on conversion of working
capital loans (and in each case holders of their component securities, as applicable) will be entitled to registration rights pursuant
to a registration 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&nbsp;A ordinary shares). The holders 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&nbsp;415 under the Securities
Act. However, the registration rights agreement provides that we will not permit any registration statement filed under the Securities
Act to become effective until termination of the applicable lock-up period, which occurs (i)&nbsp;in the case of the founder shares, on
the earlier of (A)&nbsp;six months 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 Class&nbsp;A ordinary shares equals or exceeds $12.00 per share (as adjusted for share
splits, share dividends, share capitalizations, rights issuances, subdivisions, reorganizations, recapitalizations and the like) for any
20 trading days within any 30-trading day period commencing after our initial business combination, or (y)&nbsp;the date on which we complete
a liquidation, merger, share exchange, reorganization or other similar transaction following the completion of our initial business combination
that results in all of our public shareholders having the right to exchange their Class&nbsp;A ordinary shares for cash, securities or
other property, and (ii)&nbsp;in the case of the private placement units (and their component securities), until the completion of our
initial business combination. Notwithstanding the above, the shares to be issued to the underwriters in this offering will be further
subject to the limitations on registration requirements imposed by FINRA Rule&nbsp;5110(g)(8). 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">&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: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> We have applied to list our units, Class&nbsp;A
ordinary shares and rights on NASDAQ under the symbols &ldquo;ASPC,&rdquo; &ldquo;ASPCU&rdquo; and &ldquo;ASPCR,&rdquo; respectively
on or promptly after the effective date of the registration statement. Following the date the Class&nbsp;A ordinary shares and rights
are eligible to trade separately, we anticipate that the Class&nbsp;A ordinary shares and rights will be listed separately and as a unit
on NASDAQ. We cannot guarantee that our securities will be approved for listing on NASDAQ. </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: 198; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->187<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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="ca_012"></A>INCOME TAX CONSIDERATIONS</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-align: justify; text-indent: 0.25in">The following summary of
certain British Virgin Islands and U.S. federal income tax considerations relevant to an investment in our units, ordinary shares and
rights is based upon laws and relevant interpretations thereof in effect as of the date of this prospectus, all of which are subject to
change. This summary does not deal with all possible tax consequences relating to an investment in our ordinary shares and rights, such
as the tax consequences under state, local and other tax 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; text-align: justify; text-indent: 0.25in">Prospective investors should
consult their professional advisors on the possible tax consequences of buying, holding or selling any securities under the laws of their
country of citizenship, residence or domicile.</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"><B>British Virgin Islands Taxation</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-align: justify; text-indent: 0.25in">The following is a discussion
on certain British Virgin Islands income tax consequences of an investment in our securities. The discussion is a general summary of present
law, which is subject to prospective and retroactive change. It is not intended as tax advice, does not consider any investor&rsquo;s
particular circumstances, and does not consider tax consequences other than those arising under British Virgin Islands law.</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; text-indent: 0.25in">The Government of the British
Virgin Islands does not, under existing legislation, impose any income, corporate or capital gains tax, estate duty, inheritance tax,
gift tax or withholding tax upon the company or its securityholders who are not tax resident in the British Virgin Islands.</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; text-indent: 0.25in">The company and all distributions,
interest and other amounts paid by the company to persons who are not tax resident in the British Virgin Islands will not be subject to
any income, withholding or capital gains taxes in the British Virgin Islands, with respect to the shares in the company owned by them
and dividends received on such shares, nor will they be subject to any estate or inheritance taxes in the British Virgin Islands.</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; text-indent: 0.25in">No estate, inheritance, succession
or gift tax, rate, duty, levy or other charge is payable by persons who are not tax resident in the British Virgin Islands with respect
to any shares, debt obligations or other securities of the company.</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; text-indent: 0.25in">Except to the extent that
we have any interest in real property in the British Virgin Islands, all instruments relating to transactions in respect of the shares,
debt obligations or other securities of the company and all instruments relating to other transactions relating to the business of the
company are exempt from the payment of stamp duty in the British Virgin Islands.</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; text-indent: 0.25in">There are currently no withholding
taxes or exchange control regulations in the British Virgin Islands applicable to the company or its securityholders.</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"><B>Certain U.S. Federal Income Tax Considerations</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-align: justify"><I>General</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; text-align: justify; text-indent: 0.25in">The following is a discussion
of certain U.S. federal income tax considerations generally applicable to ownership and disposition of our units, Class&nbsp;A ordinary
shares and rights, 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 Class&nbsp;A
ordinary share and right components of the unit, as the case may be. As a result, the discussion below with respect to actual holders
of Class&nbsp;A ordinary shares and rights should also apply to holders of units (as the deemed owners of the underlying Class&nbsp;A
ordinary shares and rights that comprise the units). This discussion applies only to securities that are held as capital assets for U.S.
federal income tax purposes, is applicable only to holders who purchased units in this offering and assumes any distributions on our Class&nbsp;A
ordinary shares will be paid in U.S. dollars.</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; text-indent: 0.25in">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, changes to any of which subsequent to the date of this prospectus may
affect the tax consequences 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"></P>

<!-- Field: Page; Sequence: 199; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->188<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">The Company has not sought,
and will not seek, a ruling from the U.S. Internal Revenue Service (the &ldquo;IRS&rdquo;) as to any United States federal income tax
consequence described in this section of this prospectus. The IRS may disagree with the discussion herein, and its determination may be
upheld by a court. Moreover, there can be no assurance that future legislation, regulations, administrative rulings or court decisions
will not change the accuracy of the statements in this discussion.</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; text-indent: 0.25in">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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">This discussion does not
describe all of the tax consequences that may be relevant to you in light of your particular circumstances, including 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&nbsp;that apply to certain types of investors, such as:</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; text-indent: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;insiders including our founders, the sponsor, officers or directors;</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; text-indent: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;financial
institutions or financial services entities;</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; text-indent: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;broker-dealers;</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; text-indent: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;taxpayers
that are subject to the mark-to-market tax accounting rules&nbsp;under Section&nbsp;475 of the Code;</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; text-indent: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;tax-exempt
entities;</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; text-indent: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;individual
retirement accounts or other tax deferred accounts;</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; text-indent: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;governments
or agencies or instrumentalities thereof;</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; text-indent: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;insurance
companies;</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; text-indent: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;regulated
investment companies;</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; text-indent: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;real
estate investment trusts;</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; text-indent: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;persons
liable for alternative minimum 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-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;expatriates
or former long-term residents of the United States;</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 0.25in; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;persons
that actually or constructively own five percent (5%) or more of our voting shares or five percent (5%) or more of the total value of
our shares;</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 0.25in; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;persons
that acquired our securities pursuant to an exercise of employee share options, in connection with employee share incentive plans or
otherwise as compensation;</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 0.25in; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;persons
that hold our securities as part of a straddle, constructive sale, hedging conversion or other integrated or similar transaction;</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; text-indent: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;persons
whose functional currency is not the U.S. dollar;</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; text-indent: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;controlled
foreign corporations; or</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; text-indent: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;passive
foreign investment companies.</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; text-indent: 0.25in">This discussion does not
consider the tax treatment of entities or arrangements treated as partnerships or other pass-through entities or persons who hold our
securities through such entities or arrangements. If an entity or arrangement classified as a partnership for United States federal income
tax purposes is the beneficial owner of our securities, the United States federal income tax treatment of a partner in the partnership
generally will depend on the status of the partner and the activities of the partnership. Partnerships holding our securities and partners
in such partnerships are urged to consult their own tax advisers.</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: 200; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->189<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in"><B>THIS DISCUSSION IS ONLY
A SUMMARY OF CERTAIN UNITED STATES FEDERAL INCOME TAX CONSIDERATIONS ASSOCIATED WITH THE ACQUISITION, OWNERSHIP AND DISPOSITION OF OUR
SECURITIES.&nbsp;THE UNITED STATES FEDERAL INCOME TAX TREATMENT OF THE PROSPECTIVE INVESTOR IN OUR SECURITIES MAY BE AFFECTED BY MATTERS
NOT DISCUSSED HEREIN AND DEPENDS IN SOME INSTANCES ON DETERMINATION OF FACT AND INTERPRETATIONS OF COMPLEX PROVISIONS OF UNITED STATES
FEDERAL INCOME TAX LAW FOR WHICH NO CLEAR PRECEDENT OR AUTHORITY MAY BE AVAILABLE.&nbsp;EACH PROSPECTIVE INVESTOR IN OUR SECURITIES IS
URGED TO CONSULT ITS OWN TAX ADVISOR WITH RESPECT TO THE PARTICULAR TAX CONSEQUENCES TO SUCH INVESTOR OF THE ACQUISITION, OWNERSHIP AND
DISPOSITION OF OUR SECURITIES, INCLUDING THE APPLICABILITY AND EFFECT OF ANY UNITED STATES FEDERAL STATE, LOCAL, AND NON-U.S.&nbsp;TAX
LAWS AS WELL AS UNDER ANY APPLICABLE TAX TREATY.</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-align: justify"><B>Allocation of Purchase Price and Characterization
of a Unit</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-align: justify; text-indent: 0.25in">No statutory, administrative
or judicial authority directly addresses the treatment of a unit or instruments similar to a unit for U.S. federal income tax purposes
and, therefore, that treatment is not entirely clear. The acquisition of a unit should be treated for U.S. federal income tax purposes
as the acquisition of one share of our Class&nbsp;A ordinary shares and one right to receive one-fourth (1/4) of our Class&nbsp;A ordinary
share upon consummation of an initial business combination. For U.S. federal income tax purposes, each holder of a unit must allocate
the purchase price paid by such holder for such unit among the Class&nbsp;A ordinary share and right based on the relative fair market
value of each at the time of issuance. Under U.S. federal income tax law, each investor must make his or her own determination of such
value based on all the relevant facts and circumstances. Therefore, we strongly urge each investor to consult his or her tax adviser regarding
the determination of value for these purposes. The price allocated to each Class&nbsp;A ordinary share and right should be the shareholder&rsquo;s
tax basis in such share or right as the case may be. Any disposition of a unit should be treated for U.S. federal income tax purposes
as a disposition of the Class&nbsp;A ordinary share and right comprising the unit, and the amount realized on the disposition should be
allocated among the Class&nbsp;A ordinary share and right based on their respective relative fair market values at the time of disposition
(as determined by each such unit holder based on all relevant facts and circumstances). The separation of the Class&nbsp;A ordinary share
and right comprising a unit 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The foregoing treatment of
the Class&nbsp;A ordinary shares and rights and a holder&rsquo;s purchase price allocation are not binding on the 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. If the IRS or a court were to determine that, contrary
to the characterization described above, a unit is a single instrument for United States federal income tax purposes, the tax consequences
to an investor could be materially different than those described below. Accordingly, each prospective investor is urged to consult its
own tax advisors regarding 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; text-align: justify"><B>U.S. Holders</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-align: justify; text-indent: 0.25in">This section applies to you
if you are a &ldquo;U.S. holder.&rdquo; A U.S. holder is a beneficial owner of our securities 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-align: justify; text-indent: 0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">an individual citizen or resident of the United States;</FONT></TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">a corporation (or other entity treated as a corporation for United States
federal income tax purposes) that is created or organized (or treated as created or organized) in or under the laws of the United States,
any state thereof or the District of Columbia;</FONT></TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">an estate the income of which is subject to United States federal income
taxation regardless of its source; or </FONT></TD></TR><TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">a trust if (A)&nbsp;a court within the United States is able to exercise
primary supervision over the administration of the trust and one or more U.S. persons have the authority to control all substantial decisions</FONT>
of the trust, or (B)&nbsp;it has in effect a valid election to be treated as a U.S. person.</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; text-align: justify"><I>Taxation of Distributions</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; text-align: justify; text-indent: 0.25in">Subject to the passive foreign
investment company (&ldquo;PFIC&rdquo;) rules&nbsp;discussed below, a U.S. holder generally will be required to include in gross income
any distribution paid on our Class&nbsp;A ordinary shares that is treated as a dividend for U.S. federal income tax purposes. A distribution
on such shares generally will be treated as a dividend for U.S. federal income tax purposes to the extent the distribution is paid out
of our current or accumulated earnings and profits (as determined under U.S. federal income tax principles). Such dividends paid by us
will be taxable to a corporate U.S. holder at regular rates and will not be eligible for the dividends-received deduction generally allowed
to domestic corporations in respect of dividends received from other domestic corporations.</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: 201; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->190<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">Distributions in excess of
such earnings and profits generally will be applied against and reduce the U.S. holder&rsquo;s basis in its Class&nbsp;A ordinary shares
(but not below zero) and, to the extent in excess of such basis, will be treated as gain from the sale or exchange of such Class&nbsp;A
ordinary shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">With respect to non-corporate
U.S.&nbsp;holders, under tax laws currently in effect and subject to certain exceptions (including, but not limited to, dividends treated
as investment income for purposes of investment interest deduction limitations), dividends generally will be treated as &ldquo;qualified
dividend income&rdquo; and taxed at the lower applicable long-term capital gains rate (see &ldquo;<B><I>Gain or Loss on Sale, Taxable
Exchange or Other Taxable Disposition of Class A Ordinary Shares and Rights</I></B>&rdquo; below) only if our ordinary shares are readily
tradable on an established securities market in the United&nbsp;States, the Company is not treated as a PFIC at the time the dividend
was paid or in the preceding year and certain other requirements are met (including with respect to holding period). It is unclear, however,
whether certain redemption rights described in this prospectus may suspend the running of the applicable holding period for this purpose.
U.S.&nbsp;holders should consult their tax advisors regarding the availability of such lower rate for any dividends paid with respect
to our ordinary shares.</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"><I>Gain or Loss on Sale, Taxable Exchange or Other
Taxable Disposition of Class&nbsp;A Ordinary Shares and Rights</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; text-align: justify; text-indent: 0.25in">Subject to the PFIC rules&nbsp;discussed
below, upon a sale or other taxable disposition of our Class&nbsp;A ordinary shares or rights which, in general, would include a redemption
of Class&nbsp;A ordinary shares as described below, and 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 equal to the difference between the amount realized and the U.S. holder&rsquo;s adjusted tax basis in the&nbsp;Class&nbsp;A&nbsp;ordinary
shares.</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; text-indent: 0.25in">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&nbsp;A ordinary shares so
disposed of exceeds one year. It is unclear, however, whether the redemption rights with respect to the Class&nbsp;A ordinary shares described
in this prospectus may suspend the running of the applicable holding period for this purpose. 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Generally, the amount of
gain or loss recognized by a U.S. holder is an amount equal to the difference between (i)&nbsp;the sum of the amount of cash and the fair
market value of any property received in such disposition (or, if the Class&nbsp;A ordinary shares or rights 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&nbsp;A ordinary
shares or rights based upon their then fair market values) and (ii)&nbsp;the U.S. holder&rsquo;s adjusted tax basis in its Class&nbsp;A
ordinary shares or rights so disposed of. A U.S. holder&rsquo;s adjusted tax basis in its Class&nbsp;A ordinary shares or rights 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 Class&nbsp;A ordinary share, right or, as discussed below, the U.S. holder&rsquo;s initial basis for Class&nbsp;A ordinary or rights)
less, in the case of a Class&nbsp;A ordinary share, any prior distributions treated as a return of capital.</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"><I>Redemption of Class&nbsp;A Ordinary Shares</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; text-align: justify; text-indent: 0.25in">Subject to the PFIC rules&nbsp;discussed
below, in the event that a U.S. holder&rsquo;s Class&nbsp;A ordinary shares are redeemed, including pursuant to the redemption provisions
described in this prospectus under &ldquo;Description of Securities &mdash; Ordinary Shares,&rdquo; or if we purchase a U.S. holder&rsquo;s
Class&nbsp;A ordinary shares in an open market transaction (each of which we refer to 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 sale of the Class&nbsp;A ordinary
shares under Section&nbsp;302 of the Code. If the redemption qualifies as a sale of Class&nbsp;A ordinary shares, the U.S. holder will
be treated as described under &ldquo;<B><I>U.S. holders &mdash; Gain or Loss on Sale, Taxable Exchange or Other Taxable Disposition of
Class&nbsp;A Ordinary Shares and Rights</I></B>&rdquo; above. If the redemption does not qualify as a sale of Class&nbsp;A ordinary shares,
the U.S. holder will be treated as receiving a 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 our shares
treated as held by the U.S. holder relative to all of our shares outstanding both before and after the redemption. The redemption of
Class&nbsp;A ordinary shares generally will be treated as a sale of the Class&nbsp;A ordinary shares (rather than as a corporate distribution)
if the redemption (i)&nbsp;is &ldquo;substantially disproportionate&rdquo; with respect to the U.S. holder, (ii)&nbsp;results in a &ldquo;complete
termination&rdquo; of the U.S. holder&rsquo;s interest in us or (iii)&nbsp;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">&nbsp;</P>

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

<!-- Field: Page; Sequence: 202; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->191<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">In determining whether any
of the foregoing tests are satisfied, a U.S. holder takes into account not only shares actually owned by the U.S. holder, but also our
shares that are constructively owned by it. A U.S. holder may constructively own, in addition to shares owned directly, shares 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 shares the&nbsp;U.S. holder has a right to acquire by exercise of an option, which would possibly include Class&nbsp;A ordinary
shares which could be acquired pursuant to the rights. In order to meet the substantially disproportionate test, the percentage of our
outstanding voting shares actually and constructively owned by the U.S. holder immediately following the redemption of Class&nbsp;A ordinary
shares must, among other requirements, be less than 80% of the percentage of our outstanding voting shares actually and constructively
owned by the U.S. holder immediately before the redemption. Prior to our initial business combination, the Class&nbsp;A ordinary shares
will not be voting shares for this purpose and, consequently, this substantially disproportionate test will not be applicable. There will
be a complete termination of a U.S. holder&rsquo;s interest if either (i)&nbsp;all of our shares actually and constructively owned by
the U.S. holder are redeemed or (ii)&nbsp;all of our shares 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 shares owned by certain family members and the
U.S. holder does not constructively own any other shares. The redemption of the Class&nbsp;A ordinary shares will not be essentially equivalent
to a dividend if a U.S. holder&rsquo;s conversion results in a &ldquo;meaningful reduction&rdquo; of the U.S. 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 shareholder 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">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&nbsp;A ordinary shares will be added to the U.S. holder&rsquo;s adjusted tax basis in its remaining shares. If there
are no remaining Class&nbsp;A ordinary shares, a U.S. holder should consult its own tax advisors as to the allocation of any remaining
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; text-align: justify; text-indent: 0.25in">U.S. holders who actually
or constructively own five percent (or, if our Class&nbsp;A ordinary shares are not then publicly traded, one percent) or more of our
shares (by vote or value) may be subject to special reporting requirements with respect to a redemption of Class&nbsp;A ordinary shares,
and such holders should consult with their own tax advisors with respect to their reporting requirements.</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"><I>Acquisition of Class&nbsp;A Ordinary Shares
Pursuant to Rights</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; text-align: justify; text-indent: 0.25in">The treatment of the rights
to acquire Class&nbsp;A ordinary shares is uncertain. The right may be viewed as a forward contract, derivative security or similar interest
in our company (analogous to an option with no exercise price), and thus the holder of the right would not be viewed as owning the Class&nbsp;A
ordinary shares issuable pursuant to the rights until such Class&nbsp;A ordinary shares are actually issued. There may be other alternative
characterizations of the rights that the IRS may successfully assert, including that the rights are treated as equity in our company at
the time the rights are issued.</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; text-indent: 0.25in">The tax consequences of an
acquisition of our Class&nbsp;A ordinary shares pursuant to rights are unclear and will depend on the treatment of any initial business
combination. Accordingly, U.S. holders should consult their tax advisors regarding the tax consequences of an acquisition of Class&nbsp;A
ordinary shares pursuant to rights and the consequences of any 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; text-align: justify"><I>Passive Foreign Investment Company Rules</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; text-align: justify; text-indent: 0.25in">A foreign corporation will
be a PFIC for U.S. federal income tax purposes if at least 75% of its gross income in a taxable year, including its pro rata share of
the gross income of any corporation in which it is considered to own at least 25% of the shares by value, is passive income. Alternatively,
a foreign corporation will be a PFIC if at least 50% of its assets in a taxable year of the foreign corporation, ordinarily determined
based on fair market value and averaged quarterly over the year, including its pro rata share of the assets of any corporation in which
it is considered to own at least 25% of the shares by value, are held for the production of, or produce, passive income. Passive income
generally includes dividends, interest, rents and royalties (other than rents or royalties derived from the active conduct of a trade
or business) and gains from the disposition of passive assets.</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: 203; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->192<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 24pt">Because we are a blank check
company, with no current active business, we believe that it is likely that we will meet the PFIC asset or income test for our current
taxable year. Our actual PFIC status for our current taxable year or any subsequent taxable year, however, will not be determinable until
after the end of such taxable year. Accordingly, there can be no assurance with respect to our status as a PFIC for our current taxable
year or any future taxable year. In addition, our U.S.&nbsp;counsel expresses no opinion with respect to our PFIC status for our current
or future taxable&nbsp;years.</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; text-indent: 0.25in">If we are determined to be
a PFIC for any taxable year (or portion thereof) that is included in the holding period of a U.S. holder of our Class&nbsp;A ordinary
shares or rights and, in the case of our Class&nbsp;A ordinary shares, the U.S. holder did not make either a timely qualified electing
fund (&ldquo;QEF&rdquo;) election for our first taxable year as a PFIC in which the U.S. holder held (or was deemed to hold) Class&nbsp;A
ordinary shares, a QEF election along with a deemed sale (or purging) election, or a valid mark-to-market&rdquo; election, in each case
as described below, such holder generally will be subject to special rules&nbsp;with respect to: (i)&nbsp;any gain recognized by the U.S.
holder on the sale or other disposition of its Class&nbsp;A ordinary shares; and (ii)&nbsp;any &ldquo;excess distribution&rdquo; made
to the U.S. holder (generally, any distributions to such U.S. holder during a taxable year of the U.S. holder that are greater than 125%
of the average annual distributions received by such U.S. holder in respect of the Class&nbsp;A ordinary shares during the three preceding
taxable years of such U.S. holder or, if shorter, such U.S. holder&rsquo;s holding period for the Class&nbsp;A ordinary shares).</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; text-indent: 0.25in">Under these rules:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 90%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the U.S. Holder&rsquo;s gain or excess distribution will be allocated ratably over the U.S. Holder&rsquo;s holding period for the Class&nbsp;A ordinary shares and rights, and the amount allocated to the U.S. holder&rsquo;s taxable year in which the U.S. holder recognized gain or received the excess distribution, or to the period in the U.S. holder&rsquo;s holding period before the first day of our first taxable year in which we are a PFIC, will be taxed as ordinary income;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 90%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the amount allocated to other taxable years (or portions thereof) of the U.S. holder and included in its holding period will be taxed at the highest tax rate in effect for that year and applicable to the&nbsp;U.S. holder; and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="width: 90%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the interest charge generally applicable to underpayments of tax will be imposed in respect of the tax attributable to each such other taxable year of the U.S. holder.</FONT></TD></TR>
  </TABLE>
<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; text-indent: 0.25in">In general, if we are determined
to be a PFIC, a U.S. holder may be able to avoid certain PFIC tax consequences described above in respect to our Class&nbsp;A ordinary
shares (but not our rights) by making and maintaining either (i)&nbsp;a timely and valid QEF election (if eligible to do so) to include
in income its pro rata share of our net capital gains (as long-term capital gain) and other earnings and profits (as ordinary income),
on a current basis, in each case whether or not distributed, in the taxable year of the U.S. holder in which or with which our taxable
year ends or (ii)&nbsp;a valid &ldquo;mark-to-market&rdquo; election. A U.S. holder may make a separate election to defer the payment
of taxes on undistributed income inclusions under the QEF rules, but if deferred, any such taxes will be subject to an interest charge.</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; text-indent: 0.25in">The treatment of the rights
to acquire our Class&nbsp;A ordinary shares is unclear. For example, the rights may be viewed as a forward contract, derivative security
or similar interest in our company (analogous to an option with no exercise price), and thus the holder of the right would not be viewed
as owning the Class&nbsp;A ordinary shares issuable pursuant to the rights until such Class&nbsp;A ordinary shares are actually issued.
There may be other alternative characterizations of the rights that the IRS may successfully assert, including that the rights are treated
as equity in our company at the time the rights are issued, that would reach different conclusions regarding the tax treatment of the
rights under the PFIC rules. In any case, depending on which characterization is successfully applied to the rights, different PFIC consequences
may result for U.S. holders of the rights. It is also likely that a U.S. holder of rights would not be able to make a QEF or mark-to-market
election (discussed below) with respect to such U.S. holder&rsquo;s rights. Due to the uncertainty of the application of the PFIC rules&nbsp;to
the rights, all potential investors are strongly urged to consult with their own tax advisors regarding an investment in the rights offered
hereunder as part of the units offering and the subsequent consequences to holders of such rights in any 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: 204; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->193<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">The QEF election is made
on a shareholder-by-shareholder basis and, once made, can be revoked only with the consent of the IRS. A U.S. holder generally makes a
QEF election by attaching a completed IRS Form&nbsp;8621 (Information Return by a Shareholder of a Passive Foreign Investment Company
or Qualified Electing Fund), including the information provided in a PFIC annual information statement, to a timely filed U.S. federal
income tax return for the tax year to which the election relates. Retroactive QEF elections generally may be made only by filing a protective
statement with such return and if certain other conditions are met or with the consent of the IRS.&nbsp;U.S. holders should consult their
own tax advisors regarding the availability and tax consequences of a retroactive QEF election under their particular circumstances. A
QEF election may not be made with respect to our rights.</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; text-indent: 0.25in">In order to comply with the
requirements of a QEF election, a U.S. holder must receive a PFIC annual information statement from us. If we determine we are a PFIC
for any taxable year, we will endeavor to provide to a U.S. holder such information as the IRS may require, including a PFIC annual information
statement, in order to enable the U.S. holder to make and maintain a QEF election, but there can be no assurance that we will timely provide
such required information. In addition, there is no assurance that we will have timely knowledge of our status as a PFIC in the future
or of the required information to be provided.</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; text-indent: 0.25in">If a U.S. holder has made
a QEF election with respect to our Class&nbsp;A ordinary shares, and the special tax and interest charge rules&nbsp;do not apply to such
shares (because of a timely QEF election for our first taxable year as a PFIC in which the U.S. holder holds (or is deemed to hold) such
shares or a purge of the PFIC taint pursuant to a purging election, as described above), any gain recognized on the sale of our Class&nbsp;A
ordinary shares generally will be taxable as capital gain and no interest charge will be imposed. As discussed above, U.S. holders of
a QEF are currently taxed on their pro rata shares of its earnings and profits, whether or not distributed. In such case, a subsequent
distribution of such earnings and profits that were previously included in income generally should not be taxable as a dividend to such
U.S. holders. The tax basis of a U.S. holder&rsquo;s shares in a QEF will be increased by amounts that are included in income, and decreased
by amounts distributed but not taxed as dividends, under the above rules.</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; text-indent: 0.25in">Although a determination
as to our PFIC status will be made annually, an initial determination that our company is a PFIC will generally apply for subsequent years
to a U.S. holder who held Class&nbsp;A ordinary shares or rights while we were a PFIC, whether or not we meet the test for PFIC status
in those subsequent years. A U.S. holder who makes the QEF election discussed above for our first taxable year as a PFIC in which the
U.S. holder holds (or is deemed to hold) our Class&nbsp;A ordinary shares, however, will not be subject to the PFIC tax and interest charge
rules&nbsp;discussed above in respect to such shares. In addition, such U.S. holder will not be subject to the QEF inclusion regime with
respect to such shares for any taxable year of us that ends within or with a taxable year of the U.S. holder and in which we are not a
PFIC. On the other hand, if the QEF election is not effective for each of our taxable years in which we are a PFIC and the U.S. holder
holds (or is deemed to hold) our Class&nbsp;A ordinary shares, the PFIC rules&nbsp;discussed above will continue to apply to such shares
unless the holder makes a purging election, as described above, and pays the tax and interest charge with respect to the gain inherent
in such shares attributable to the pre-QEF election 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; text-align: justify; text-indent: 0.25in">Alternatively, if a U.S.
holder, at the close of its taxable year, owns shares in a PFIC that are treated as marketable stock, the U.S. holder may make a mark-to-market
election with respect to such shares for such taxable year. If the U.S. holder makes a valid mark-to-market election for the first taxable
year of the U.S. holder in which the U.S. holder holds (or is deemed to hold) Class&nbsp;A ordinary shares in us and for which we are
determined to be a PFIC, such holder generally will not be subject to the PFIC rules&nbsp;described above in respect to its Class&nbsp;A
ordinary shares. Instead, in general, the U.S. holder will include as ordinary income each year the excess, if any, of the fair market
value of its Class&nbsp;A ordinary shares at the end of its taxable year over the adjusted basis in its Class&nbsp;A ordinary shares.
The U.S. holder also will be allowed to take an ordinary loss in respect of the excess, if any, of the adjusted basis of its Class&nbsp;A
ordinary shares over the fair market value of its Class&nbsp;A ordinary shares at the end of its taxable year (but only to the extent
of the net amount of previously included income as a result of the mark-to-market election). The U.S. holder&rsquo;s basis in its Class&nbsp;A
ordinary shares will be adjusted to reflect any such income or loss amounts, and any further gain recognized on a sale or other taxable
disposition of the Class&nbsp;A ordinary shares will be treated as ordinary income. Currently, a mark-to-market election may not be made
with respect to our rights.</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; text-indent: 0.25in">The mark-to-market election
is available only for &ldquo;marketable stock,&rdquo; generally, stock that is regularly traded on a national securities exchange that
is registered with the Securities and Exchange Commission, including NASDAQ (on which we intend to list the Class&nbsp;A ordinary shares),
or on a foreign exchange or market that the IRS determines has rules&nbsp;sufficient to ensure that the market price represents a legitimate
and sound fair market value. If made, a mark-to-market election would be effective for the taxable year for which the election was made
and for all subsequent taxable years unless the Class A ordinary shares ceased to qualify as &ldquo;marketable stock&rdquo; for purposes
of the PFIC rules or the IRS consented to the revocation of the election. U.S. holders should consult their own tax advisors regarding
the availability and tax consequences of a mark-to-market election in respect to our Class&nbsp;A ordinary shares under their particular
circumstances.</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: 205; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->194<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">If we are a PFIC and, at
any time, have a foreign subsidiary that is classified as a PFIC, U.S. holders generally would be deemed to own a portion of the shares
of such lower-tier PFIC, and generally could incur liability for the deferred tax and interest charge described above if we receive a
distribution from, or dispose of all or part of our interest in, the lower-tier PFIC or the U.S. holders otherwise were deemed to have
disposed of an interest in the lower-tier PFIC. We will endeavor to cause any lower-tier PFIC to provide to a U.S. holder the information
that may be required to make or maintain a QEF election with respect to the lower-tier PFIC. However, there is no assurance that we will
have timely knowledge of the status of any such lower-tier PFIC. In addition, we may not hold a controlling interest in any such lower-tier
PFIC and thus there can be no assurance we will be able to cause the lower-tier PFIC to provide the required information. A mark-to-market
election generally would not be available to such lower tier PFIC. U.S. holders are urged to consult their own tax advisors regarding
the tax issues raised by lower-tier PFICs.</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; text-indent: 0.25in">A U.S. holder that owns (or
is deemed to own) shares in a PFIC during any taxable year of the U.S. holder, may have to file an IRS Form&nbsp;8621 (whether or not
a QEF or market-to-market election is made) and such other information as may be required by the U.S. Treasury Department. Failure to
do so, if required, will extend the statute of limitations until such required information is furnished to the IRS.</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; text-indent: 0.25in">The rules&nbsp;dealing with
PFICs and with the QEF and mark-to-market elections are very complex and are affected by various factors in addition to those described
above. Accordingly, U.S. Holders of the Class&nbsp;A ordinary shares or rights should consult their own tax advisers concerning the application
of the PFIC rules&nbsp;to our securities under their particular circumstances.</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"><I>Tax Reporting</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; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Certain
U.S. holders may be required to file an IRS Form&nbsp;926 (Return of a U.S. Transferor of Property to a Foreign Corporation) to report
a transfer of property (including cash) to us. Substantial penalties may be imposed on a U.S. holder that fails to comply with this reporting
requirement, and the period of limitations on assessment and collection of U.S.&nbsp;federal income taxes will be extended in the event
of a failure to comply</FONT>. Furthermore, certain U.S. holders who are individuals and to the extent provided in future Treasury regulations,
certain entities, will be required to report information with respect to such U.S. holder&rsquo;s investment in &ldquo;specified foreign
financial assets&rdquo; on IRS Form&nbsp;8938, subject to certain exceptions. An interest in the Company constitutes a specified foreign
financial asset for these purposes. Persons who are required to report specified foreign financial assets and fail to do so may be subject
to substantial penalties<FONT STYLE="font-family: Times New Roman, Times, Serif">, and the period of limitations on assessment and collection
of U.S.&nbsp;federal income taxes will be extended in the event of a failure to comply</FONT>. Potential Investors are urged to consult
with their own tax advisors regarding the foreign financial asset reporting obligations and their application to an investment in Class&nbsp;A
ordinary shares and rights. Each U.S. holder is urged to consult with its own tax advisor regarding this reporting obligation.</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"><B>Non-U.S. Holders</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-align: justify; text-indent: 0.25in">This section applies to you if you are a &ldquo;Non-U.S. holder.&rdquo;
A Non-U.S. holder is a beneficial owner of our units, Class&nbsp;A ordinary shares and rights (other than a partnership or entity treated
as a partnership for U.S. federal income tax purposes)who or that is for United&nbsp;States federal income tax purposes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">a non-resident alien individual (other than certain former citizens and residents
of the United&nbsp;States subject to U.S.&nbsp;tax as expatriates);</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">a foreign corporation; or</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">an estate or trust that is not a U.S.&nbsp;holder;</FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">but generally does not include
an individual who is present in the U.S. for 183 days or more in the taxable year of disposition. If you are such an individual, you should
consult your tax advisor regarding the U.S. federal income tax consequences of any income derived from, or gain attributable to the 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-align: justify; text-indent: 0.25in">Dividends (including constructive
dividends) paid or deemed paid to a Non-U.S. holder in respect to our Class&nbsp;A ordinary shares generally will not be subject to U.S.
federal income tax, unless the dividends are effectively connected with the Non-U.S. holder&rsquo;s conduct of a trade or business within
the U.S. (and, if required by an applicable income tax treaty, are attributable to a permanent establishment or fixed base that such holder
maintains in the U.S.). In addition, a Non-U.S. holder generally will not be subject to U.S. federal income tax on any gain attributable
to a sale or other disposition of our Class&nbsp;A ordinary shares or rights unless such gain is effectively connected with its conduct
of a trade or business in the U.S. (and, if required by an applicable income tax treaty, is attributable to a permanent establishment
or fixed base that such holder maintains in the U.S.) or the Non-U.S. holder is an individual who is present in the United States for
183 days or more in the taxable year of sale or other disposition and certain other conditions are met (in which case, such gain from
United States sources generally is subject to tax at a 30% rate or a lower applicable tax treaty rate).</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: 206; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->195<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in">Dividends and gains that
are effectively connected with the Non-U.S. holder&rsquo;s conduct of a trade or business in the U.S. (and, if required by an applicable
income tax treaty, are attributable to a permanent establishment or fixed base in the U.S.) generally will be subject to U.S. federal
income tax at the same regular U.S. federal income tax rates applicable to a comparable U.S. holder and, in the case of a Non-U.S. holder
that is a corporation for U.S. federal income tax purposes, also may be subject to an additional branch profits tax at a 30% rate or a
lower applicable income tax treaty rate.</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; text-indent: 0.25in">As described under &ldquo;<I>U.S.
Holders&mdash;Acquisition of Class&nbsp;A Ordinary Shares Pursuant to Rights</I>,&rdquo; the tax consequences of an acquisition of our
Class&nbsp;A ordinary shares pursuant to rights are unclear and will depend on the tax treatment of any initial business combination.
In addition, the tax treatment of a right that expires worthless is unclear. Accordingly, Non-U.S. Holders should consult their tax advisors
regarding the tax consequences of an acquisition of Class&nbsp;A ordinary shares pursuant to rights and the consequences of any initial
business combination and the tax treatment of any losses that result if the rights 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"><I>Information Reporting and Backup Withholding</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; text-align: justify; text-indent: 0.25in">Dividend payments with respect
to our Class&nbsp;A ordinary shares and proceeds from the sale, exchange or redemption of our securities may be subject to information
reporting to the IRS and possible U.S. backup withholding. Backup withholding will not apply, however, to a U.S. holder who furnishes
a correct taxpayer identification number and makes other required certifications, or who is otherwise exempt from backup withholding and
establishes such exempt status. A Non-U.S. holder generally will eliminate the requirement for information reporting and backup withholding
by providing certification of its foreign status, under penalties of perjury, on a duly executed applicable IRS Form&nbsp;W-8 or by otherwise
establishing an exemption.</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; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Backup
withholding is not an additional tax. Amounts withheld as backup withholding may be credited against a holder&rsquo;s U.S. federal income
tax liability, and a holder generally may obtain a refund of any excess amounts withheld under the backup withholding rules&nbsp;by timely
filing the appropriate claim for refund with the IRS and furnishing any required information.</FONT> Holders are urged to consult their
own tax advisors regarding the application of backup withholding and the availability of and procedure for obtaining an exemption from
backup withholding in their particular circumstances.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B>The U.S.&nbsp;federal
income tax discussion set forth above is included for general information only and may not be applicable depending upon a holder&rsquo;s
particular situation. Holders are urged to consult their tax advisors with respect to the tax consequences to them of the acquisition,
ownership and disposition of our ordinary shares and warrants, including the tax consequences under U.S.&nbsp;federal, state and local,
estate, non-U.S.&nbsp;and other tax laws and tax treaties and the possible effects of changes in U.S.&nbsp;or other tax laws.</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"></P>

<!-- Field: Page; Sequence: 207; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->196<!-- Field: /Sequence --></FONT></P></DIV>
    <DIV STYLE="break-before: page; 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="ca_11"></A>UNDERWRITING</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-align: justify">Maxim is acting as sole book-running manager of
the offering and as the sole representative of the underwriters named below. Subject to the terms and conditions of the underwriting agreement
dated the date of this prospectus, the underwriters named below, through their representative Maxim Group LLC, have severally agreed to
purchase on a firm commitment basis, and we have agreed to sell to the underwriters, the following respective number of units set forth
opposite the underwriter&rsquo;s name at a public offering price less the underwriting discounts and commissions set forth on the cover
page&nbsp;of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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; font-weight: bold; border-bottom: Black 1pt solid">Underwriters</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Number of <BR> Units</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Maxim Group LLC</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 70%; font-size: 10pt; padding-bottom: 2.5pt">Total</TD><TD STYLE="width: 1%; font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 27%; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">5,500,000</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&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; text-align: justify">The underwriting agreement provides that the obligations
of the underwriters to purchase the units included in this offering are subject to all applicable laws and regulations and certain conditions
precedent such as the receipt by the underwriters of officers&rsquo; certificates and legal opinions by their counsel. The underwriters
are obligated to purchase all of the units (other than those covered by the over-allotment option described below) if they purchase any
of the units. If an underwriter defaults, the underwriting agreement provides that the purchase commitments of the non-defaulting 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Units&nbsp;sold by the underwriters to the public
will initially be offered at the initial public offering price set forth on the cover of this prospectus. Upon the execution of the underwriting
agreement, the underwriters will be obligated to purchase the units at the prices and upon the terms stated therein, and, as a result,
will thereafter bear any risk associated with changing the offering price to the public or other selling terms after completion of the
initial public offering. The underwriters reserve the right to withdraw, cancel or modify offers to the public and to reject orders in
whole or in part. Maxim has advised us that the underwriters do not intend to make sales to discretionary accounts.</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">If the underwriters sell more units than the total
number set forth in the table above, we have granted to the underwriters an option, exercisable for 45&nbsp;days from the date of this
prospectus, to purchase up to 825,000 additional units at the public offering price less the underwriting discount. The underwriters may
exercise this option solely for the purpose of covering over-allotments, if any, in connection with this offering. To the extent the option
is exercised, each underwriter must purchase a number of additional units approximately proportionate to that underwriters&rsquo; initial
purchase commitment. Any units issued or sold under the option will be issued and sold on the same terms and conditions as the other units
that are the subject of 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; text-align: justify">Our sponsor, officers, and directors are also
subject to separate transfer restrictions on their founder shares and private placement units (and underlying securities) pursuant to
the letter agreement as described herein. Our initial shareholders have agreed not to transfer, assign or sell any of their founder shares
until the earlier to occur of: (1)&nbsp;six months after the completion of our initial business combination and (2)&nbsp;the date on which
we consummate a liquidation, merger, share exchange, reorganization, or other similar transaction after our initial business combination
that results in all of our shareholders having the right to exchange their ordinary shares for cash, securities or other property. Notwithstanding
the foregoing, if the last sale price of our Class&nbsp;A ordinary shares equals or exceeds $12.00 per share (as adjusted for share splits,
share capitalizations, rights issuances, subdivisions, reorganizations, recapitalizations and the like) for any 20 trading days within
any 30-trading day period commencing after our initial business combination, the founder shares will be released from the lock-up. The
private placement units (including the underlying securities) will not be transferable, assignable or salable until 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 Shareholders - Transfers of Founder Shares and Private Placement Units&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; text-align: justify">Prior to this offering, there has been no public
market for our securities. Consequently, the initial public offering price for the units was determined by negotiations between us and
the underwriters. Among the factors considered in determining the initial public offering price 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 the equity securities markets, including current market valuations of publicly traded companies
considered comparable to our company. We cannot assure you, however, that the price at which the units, ordinary shares or rights will
sell in the public market after this offering will not be lower than the initial public offering price or that an active trading market
in our units, Class&nbsp;A ordinary shares or rights will develop and continue after 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"></P>

<!-- Field: Page; Sequence: 208; Options: NewSection; Value: 197 -->
    <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: Arabic; Name: PageNo -->197<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> We have applied to list our units on Nasdaq
under the symbol &ldquo;ASPCU.&rdquo; We cannot guarantee that our securities will be approved for listing on Nasdaq. We expect that
our units will be listed on Nasdaq on or promptly after the date of this prospectus. We expect that our ordinary shares and rights will
be listed under the symbols &ldquo;ASPC&rdquo; and &ldquo;ASPCR,&rdquo; respectively, once the ordinary shares and rights begin separate
trading. </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">The following table shows the underwriting discounts
and commissions that we are to pay to the underwriters in connection with this offering. These amounts are shown assuming both no exercise
and full exercise of the underwriters&rsquo; over-allotment option. The upfront portion of the underwriting discounts and commissions
will be $0.10 per unit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Payable by Eureka <BR> Acquisition Corp</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">No Exercise of <BR> Over-Allotment <BR> Option</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Full Exercise of <BR> Over-Allotment <BR> Option</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 40%; font-size: 10pt; padding-bottom: 1pt">Per Unit</TD><TD STYLE="width: 1%; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 27%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">0.10</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 27%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">0.10</TD><TD STYLE="width: 1%; padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">Total<FONT STYLE="font-size: 10pt"><SUP>(2)</SUP></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">550,000</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">632,500</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&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: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 25%"><DIV STYLE="border-top: Black 1pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top">(1)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">We have agreed to pay Maxim, a fee equal to (i)&nbsp;1.0% of the gross proceeds of the offering raised by the underwriters, and (ii)&nbsp;0.5%
of the gross proceeds of the offering raised from investors that are introduced solely by us, provided, however, that investments from
such investors to which this reduced discount shall apply shall be capped at an aggregate amount of $5 million. Underwriting discounts
to be paid by us are calculated based on the assumption that no investors in this offering are introduced by us.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; vertical-align: top">(2)&#8239;&#8239;&#8239;&#8239;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">In addition to the cash compensation set forth herein, we have agreed to issue to Maxim Group LLC and/or its designees, 247,500
Class&nbsp;A ordinary shares, or up to 284,625 Class&nbsp;A ordinary shares if the underwriter&rsquo;s over-allotment option is exercised
in full in a private placement to be completed concurrently with the consummation of this offering. Except with respect to certain registration
rights, transfer restrictions and other restrictions as described elsewhere herein, the representative shares will be identical to the
public shares underlying the units sold in this offering.</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; text-align: justify">In addition to the underwriting discount, we paid
Maxim $25,000 upon the execution of the engagement letter, as an advance against out-of-pocket accountable expenses actually anticipated
to be incurred by the underwriters. Concurrently with the filing of the registration statement of which this prospectus forms a part,
we paid Maxim an additional $25,000. We refer to such amounts previously paid as the advance, and the advance shall be applied towards
Maxim&rsquo;s accountable expenses. Furthermore, we have agreed to reimburse the underwriters for certain expenses incurred in connection
with this offering, including but not limited to background checks and road show expenses, in an amount not to exceed $200,000 in the
aggregate (inclusive of the advance) if there is a closing of this offering and $50,000 (inclusive of the advance) in the event that this
offering does not close. Any portion of the advance will be returned to us in the event it is not actually incurred.</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">No discounts or commissions will be paid on the
sale of the private placement units.</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"><B>Representative Shares</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-align: justify">We have agreed to issue to Maxim and/or its designees,
247,500 Class&nbsp;A ordinary shares (or up to 284,625 Class&nbsp;A ordinary shares if the underwriters&rsquo; over-allotment option is
exercised in full) upon the consummation of this offering. These shares are being registered in the registration statement of which this
prospectus forms a part. Maxim has agreed not to transfer, assign or sell any such shares until the completion of our initial business
combination. In addition, Maxim has agreed (i)&nbsp;to waive its redemption rights with respect to such shares in connection with the
completion of our initial business combination and (ii)&nbsp;to waive its rights to liquidating distributions from the trust account with
respect to such shares if we fail to complete our initial business combination within the periods of time as provided in our amended and
restated memorandum and articles of association. The shares issued to Maxim will be granted customary registration rights in compliance
with FINRA Rule&nbsp;5110(g)(8).</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: 209; Value: 197 -->
    <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: Arabic; Name: PageNo -->198<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The shares have been deemed compensation by FINRA and are therefore
subject to a lock-up for a period of 180&nbsp;days from the commencement of sales of this offering pursuant to FINRA Rule&nbsp;5110(e)(1).
Pursuant to this FINRA lock-up, these securities cannot be sold, transferred, assigned, pledged or hypothecated or the subject of any
hedging, short sale, derivative, put or call transaction that would result in the economic disposition of the securities by any person
for a period of 180&nbsp;days from the commencement of sales of this offering except as permitted under FINRA Rule&nbsp;5110(e)(2), including
to any underwriter and selected dealer participating in the offering and their officers or partners, registered persons or affiliates.
These securities have resale registration rights including three demand (one at our expense and two at Maxim&rsquo;s expense) and unlimited
 &ldquo;piggy-back&rdquo; rights for five and seven years, respectively, from the commencement of sales of 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; text-align: justify"><B>Right of First Refusal</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-align: justify">Subject to certain conditions, we granted Maxim,
for a period beginning on the closing of this offering and ending 12&nbsp;months after the date of the consummation of our business combination,
a right of first refusal to act as sole underwriter and sole book running manager, or sole placement agent, for any and all future private
or public equity, equity-linked, convertible and debt offerings during such 12 months period of us, or any successor to or any subsidiary
of our company. For the sake of clarity, this right of refusal shall encompass the time period leading up to the closing of the Business
Combination while the Company is still a Special Purpose Acquisition Company. In accordance with FINRA Rule&nbsp;5110(g)(6), such right
of first refusal shall not have a duration of more than three&nbsp;years from the commencement of sales of 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; text-align: justify"><B>Tail Fee</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-align: justify">If, within twelve (12) months following the closing
of this offering, we complete any financing of equity, equity-linked, convertible or debt securities, or other capital raising activity
(other than the exercise by any person or entity of any options, warrants or other convertible securities) with any investor that Maxim
introduced, those who invested, or those to whom Maxim sent a prospectus in connection with this offering, then we will pay to Maxim
5.5% of the gross proceeds received from such investors upon the closing of such 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; text-align: justify"><B>Regulatory Restrictions on Purchase of Securities</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-align: justify">In connection with the offering, the underwriters
may purchase and sell units in the open market. The underwriters have advised us that, in accordance with Regulation&nbsp;M under the
Securities Exchange&nbsp;Act&nbsp;of&nbsp;1934, as amended, they may engage in short sale transactions, purchases to cover short positions,
which may include purchases pursuant to the over-allotment option, 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 our units at a level above that which might otherwise prevail in the open market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Short sales involve secondary market sales by the underwriters
of a greater number of units than it is required to purchase in the offering.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">&ldquo;Covered&rdquo; short sales are sales of units in an amount
up to the number of units represented by the underwriters&rsquo; over-allotment option.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">&ldquo;Naked&rdquo; short sales are sales of units in an amount
in excess of the number of units represented by the underwriters&rsquo; over-allotment option.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Covering transactions involve purchases of units either pursuant
to the over-allotment option or in the open market after the distribution has been &#8239;&#8239;completed in order to cover short positions.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">To close a naked short position, the underwriters must purchase
units in the open market after the distribution has been completed. 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 the units in the open market after
pricing that could adversely affect investors who purchase in the offering.</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: 210; Value: 197 -->
    <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: Arabic; Name: PageNo -->199<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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>

<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"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">To close a covered short position, the underwriters must purchase
units in the open market after the distribution has been completed or must exercise the over-allotment option. In determining
the source of units to close the covered</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">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 over-allotment option.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Stabilizing transactions involve bids to purchase units so long
as the stabilizing bids do not exceed a specified maximum.</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; text-align: justify">Purchases to cover short positions and stabilizing
purchases, as well as other purchases by the underwriters for their own account, may have the effect of preventing or retarding a decline
in the market price of the units. They may also cause the price of the units to be higher than the price that would otherwise exist in
the open market in the absence of these transactions. The underwriters may conduct these transactions in the over-the-counter market or
otherwise. 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 ordinary shares. 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We estimate that our portion of the total expenses
of this offering payable by us will be $592,500, excluding underwriting discounts 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; text-align: justify">We have agreed to indemnify the underwriters against
certain liabilities, including liabilities under the Securities Act, or to contribute to payments the underwriters may be required to
make because of any of those liabilities.</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">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&nbsp;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 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; text-align: justify"><B>Electronic Distribution</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-align: justify">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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Other Activities and Relationships</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-align: justify">The underwriters and their respective 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.
Certain of the underwriters and their respective affiliates have, from time to time, performed, and may in the future perform, various
financial advisory and investment banking services for us, for which they received or will receive customary fees 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; text-align: justify">In addition, in the ordinary course of their various
business activities, the underwriters and their respective 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 may at any time hold long and short positions in such securities and instruments. Such investments
and securities activities may involve securities and/or instruments of ours or our affiliates. The underwriters and their respective affiliates
may also make investment recommendations and/or publish or express independent research views in respect of such securities or financial
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">&nbsp;</P>

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

<!-- Field: Page; Sequence: 211; Value: 197 -->
    <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: Arabic; Name: PageNo -->200<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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>Selling Restrictions</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-align: justify">Other than in the United&nbsp;States, no action
has been taken by us or the underwriters that would permit a public offering of the securities offered by this prospectus in any jurisdiction
where action for that purpose is required. The securities offered by this prospectus may not be offered or sold, directly or indirectly,
nor may this prospectus or any other offering material or advertisements in connection with the offer and sale of any such securities
be distributed or published in any jurisdiction, except under circumstances that will result in compliance with the applicable rules&nbsp;and
regulations of that jurisdiction. Persons into whose possession this prospectus comes are advised to inform themselves about and to observe
any restrictions relating to the offering and the distribution of this prospectus. This prospectus does not constitute an offer to sell
or a solicitation of an offer to buy any securities offered by this prospectus in any jurisdiction in which such an offer or a solicitation
is unlawful.</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"><B>Notice to Prospective Investors in Canada</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 0.5in; text-align: center">(A)</TD><TD STYLE="text-align: justify"><U>Resale</U> <U>Restrictions</U>:The distribution of units in Canada is being made only in the
                                                                                   province of Ontario 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. &#8239;&#8239;Any resale of
                                                                                   the units in Canada must be made under applicable securities laws which may vary depending on the relevant jurisdiction, and which
                                                                                   &#8239;&#8239;may require resales to be made under available statutory exemptions or under a discretionary exemption granted by the
                                                                                   applicable Canadian securities &#8239;&#8239;regulatory authority. Purchasers are advised to seek legal advice prior to any resale
                                                                                   of the securities.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 0.5in; text-align: center">(B)</TD><TD STYLE="text-align: justify"><U>Representations
of Canadian Purchasers</U>:By purchasing units 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:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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; text-align: left">&#8239;</TD><TD STYLE="text-align: left; width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
                                                                                    <TD STYLE="text-align: justify">the purchaser is entitled under applicable provincial securities laws to purchase the units without the benefit of a prospectus qualified
under those securities laws as it is an &ldquo;accredited investor&rdquo; as defined under National Instrument&nbsp;45-106 - Prospectus
Exemptions,</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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; text-align: left">&#8239;</TD><TD STYLE="text-align: left; width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
                                                                                    <TD STYLE="text-align: justify">the purchaser is a &ldquo;permitted client&rdquo; as defined in National Instrument&nbsp;31-103 - Registration Requirements, Exemptions
and Ongoing Registrant Obligations,</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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; text-align: left">&#8239;</TD><TD STYLE="text-align: left; width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
                                                                                    <TD STYLE="text-align: justify">where required by law, the purchaser is purchasing as principal and not as agent, and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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; text-align: left">&#8239;</TD><TD STYLE="text-align: left; width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
                                                                                    <TD STYLE="text-align: justify">the purchaser has reviewed the text above under Resale Restrictions.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 0.5in; text-align: center">(C)</TD><TD STYLE="text-align: justify"><U>Conflicts of Interest</U>:Canadian purchasers are
hereby notified that the underwriters are relying on the exemption set out in section 3A.3 or 3A.4, if applicable, of National
Instrument&nbsp;33-105&nbsp;&mdash;&nbsp;Underwriting Conflicts from having to provide certain conflict of interest disclosure in this
document.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 0.5in; text-align: center">(D)</TD><TD STYLE="text-align: justify">Statutory <U>Rights of Action</U>:Securities legislation in certain provinces or territories of
                                                                                  Canada may provide a purchaser with remedies for rescission or damages if the offering memorandum (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.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 0.5in; text-align: center">(E)</TD><TD STYLE="text-align: justify"><U>Enforcement of Legal
Rights</U>:All of our directors and officers as well as the experts named herein may be located outside of Canada and, as a result, &#8239;&#8239;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 &#8239;&#8239;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 &#8239;&#8239;or those persons in Canada or to enforce a judgment obtained in Canadian courts
against us or those persons outside of Canada.</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: 212; Value: 197 -->
    <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: Arabic; Name: PageNo -->201<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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>

<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: 0.5in; text-align: center">(F)</TD><TD STYLE="text-align: justify"><U>Taxation</U> <U>and Eligibility for Investment</U>:Canadian purchasers of units should consult
                                                                                  their own legal and tax advisors with respect to the tax consequences of an investment in the units in their
                                                                                  particular circumstances and about the eligibility of the units for investment by the purchaser under relevant
                                                                                  Canadian legislation.</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; text-align: justify"><B>Notice to Prospective Investors in the European
Economic Area</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-align: justify">In relation to each member state of the European
Economic Area which has implemented the Prospectus Directive (each, a &ldquo;Relevant Member State&rdquo;), an offer to the public of
any units which are the subject of the offering contemplated by this prospectus may not be made in that Relevant Member State except that
an offer to the public in that Relevant Member State of any units may be made at any time under the following exemptions under the Prospectus
Directive, if they have been implemented in that Relevant Member State:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 0.5in; text-align: center">(a)</TD><TD STYLE="text-align: justify">to any legal entity which is a &ldquo;qualified investor&rdquo;
as defined in the Prospectus Directive;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 0.5in; text-align: center">(b)</TD><TD STYLE="text-align: justify">to fewer than 100 or, if the Relevant Member State has
implemented the relevant provision of the 2010 PD Amending Directive, 150, natural or legal persons (other than qualified
investors as defined in the Prospectus Directive), as permitted under the Prospectus Directive, subject to obtaining the &#8239;&#8239;prior
consent of the underwriters or the underwriters nominated by us for any such offer; or</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 0.5in; text-align: center">(c)</TD><TD STYLE="text-align: justify">in any other circumstances falling within Article&nbsp;3(2)&nbsp;of
the Prospectus Directive, provided that no such offer of units shall require us or any of the underwriters to publish a
prospectus pursuant to Article&nbsp;3 of the Prospectus Directive or supplement a prospectus pursuant to Article&nbsp;16 of the Prospectus
Directive.</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; text-align: justify">For the purposes of this provision, the expression
an &ldquo;offer units to the public&rdquo; in relation to the units in any Relevant Member State means the communication in any form and
by any means of sufficient information on the terms of the offer and the units to be offered so as to enable an investor to decide to
purchase or subscribe to the units, as the same may be varied in that Relevant Member State by any measure implementing the Prospectus
Directive in that Relevant Member State and the expression &ldquo;Prospectus Directive&rdquo; means Directive 2003/71/EC (and amendments
thereto, including the 2010 PD Amending Directive, to the extent implemented in the Relevant Member State), and includes any relevant
implementing measure in the Relevant Member State and the expression &ldquo;2010 PD Amending Directive&rdquo; means Directive 2010/73/EU.</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"><B>Notice to Prospective Investors in the United
Kingdom</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-align: justify">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&nbsp;2(1)(e)&nbsp;of
the Prospectus Directive that are also (i)&nbsp;investment professionals falling within Article&nbsp;19(5)&nbsp;of the Financial Services
and Markets Act&nbsp;2000 (Financial Promotion) Order 2005, as amended (the &ldquo;Order&rdquo;), and/or (ii)&nbsp;high net worth entities
falling within Article&nbsp;49(2)(a)&nbsp;to (d)&nbsp;of the Order and other persons to whom it may lawfully be communicated (each such
person being referred to as a &ldquo;relevant person&rdquo;). The units are only available to, and any invitation, offer or agreement
to purchase or otherwise acquire such units will be engaged in only with, relevant persons. 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Notice to Prospective Investors in Hong&nbsp;Kong</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-align: justify">No securities have been offered or sold, and no
securities may be offered or sold, in Hong&nbsp;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&nbsp;Kong (&ldquo;SFO&rdquo;) and any rules&nbsp;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&nbsp;Kong
(&ldquo;CO&rdquo;) or which do not constitute an offer or invitation to the public for the purpose of the CO or the SFO.&nbsp;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&nbsp;Kong or elsewhere), which is directed at, or the contents of which are likely
to be accessed or read by, the public of Hong&nbsp;Kong (except if permitted under the securities laws of Hong&nbsp;Kong) other than with
respect to securities which are or are intended to be disposed of only to persons outside Hong&nbsp;Kong or only to &ldquo;professional
investors&rdquo; as defined in the SFO and any rules&nbsp;made under that Ordinance.</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: 213; Value: 197 -->
    <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: Arabic; Name: PageNo -->202<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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; text-align: justify; margin: 0pt 0"><FONT STYLE="font-size: 10pt">This prospectus has not been registered
with the Registrar of Companies in Hong&nbsp;Kong. Accordingly, this prospectus may not be issued, circulated or distributed in Hong&nbsp;Kong,
and the securities may not be offered for subscription to members of the public in Hong&nbsp;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.</FONT></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"><B>Notice to Prospective Investors in Japan</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-align: justify">The units offered in this prospectus have not
been and will not be registered under the Financial Instruments and Exchange Law of Japan. The units have not been offered or sold and
will not be offered or sold, directly or indirectly, in Japan or to or for the account of any resident of Japan (including any corporation
or other entity organized under the laws of Japan), except (i)&nbsp;pursuant to an exemption from the registration requirements of the
Financial Instruments and Exchange Law and (ii)&nbsp;in compliance with any other applicable requirements of Japanese law.</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"><B>Notice to Prospective Investors in Singapore</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-align: justify">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 notes may not be circulated or distributed, nor
may the notes 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)&nbsp;to an institutional investor under Section&nbsp;274 of the Securities and Futures Act, Chapter&nbsp;289
of Singapore (the &ldquo;SFA&rdquo;), (ii)&nbsp;to a relevant person pursuant to Section&nbsp;275(1), or any person pursuant to Section&nbsp;275(1A),
and in accordance with the conditions specified in Section&nbsp;275, of the SFA, or (iii)&nbsp;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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Where the units are subscribed or purchased under
Section&nbsp;275 of the SFA by a relevant person which is:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 0.5in; text-align: center">(a)</TD><TD STYLE="text-align: justify">a corporation (which is not an accredited investor (as defined
in Section&nbsp;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</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: 0in"></TD><TD STYLE="width: 0.25in; 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: 0.5in; text-align: center">(b)</TD><TD STYLE="text-align: justify">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&nbsp;239(1)&nbsp;of the SFA) of that corporation or the beneficiaries&rsquo; rights and interest (howsoever described) in
                                                                                    that trust shall not be transferred within six&nbsp;months after that corporation or that trust has acquired the notes pursuant to
                                                                                    an offer made under Section&nbsp;275 of the SFA except:</TD>
</TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&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">to an institutional investor or to a relevant person defined
in Section&nbsp;275(2)&nbsp;of the SFA, or to any person arising from an offer referred to in Section&nbsp;275(1A) or Section&nbsp;276(4)(i)(B)&nbsp;of
the SFA;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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">where no consideration is or will be given for the transfer;</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: 0in"></TD><TD STYLE="width: 0.25in; 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: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left">(iii)</TD><TD STYLE="text-align: justify">where the transfer is by operation of law;</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: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&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: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left">(iv)</TD><TD STYLE="text-align: justify">as specified in Section&nbsp;276(7)&nbsp;of
the SFA; or</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: 0in"></TD><TD STYLE="width: 0.25in; 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: 0.75in"></TD><TD STYLE="width: 0.25in; text-align: left">(v)</TD><TD STYLE="text-align: justify">as specified in Regulation&nbsp;32 of the Securities and Futures (Offers of Investments) (Shares and
                                                                                   Debentures) Regulations 2005 of Singapore.</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: 214; Value: 197 -->
    <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: Arabic; Name: PageNo -->203<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B>Notice to Prospective Investors in the Dubai
International Financial Centre</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-align: justify">This prospectus relates to an Exempt Offer in
accordance with the Offered Securities Rules&nbsp;of the Dubai Financial Services Authority (&ldquo;DFSA&rdquo;). This prospectus is intended
for distribution only to persons of a type specified in the Offered Securities Rules&nbsp;of the DFSA.&nbsp;It must not be delivered to,
or relied on by, any other person. The DFSA has no responsibility for reviewing or verifying any documents in connection with Exempt Offers.
The DFSA has not approved this prospectus nor taken steps to verify the information set forth herein and has no responsibility for the
prospectus. The securities to which this prospectus relates may be illiquid and/or subject to restrictions on their resale. Prospective
purchasers of the securities offered should conduct their own due diligence on the securities. If you do not understand the contents of
this prospectus you should consult an authorized financial advisor.</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"><FONT STYLE="font-size: 10pt"><B>Notice to Prospective Investors in
Australia</B></FONT></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">No placement document, prospectus, product disclosure
statement or other disclosure document has been lodged with the Australian Securities and Investments Commission (&ldquo;ASIC&rdquo;),
in relation to the offering. This prospectus does not constitute a prospectus, product disclosure statement or other disclosure document
under the Corporations Act&nbsp;2001 (the &ldquo;Corporations Act&rdquo;), and does not purport to include the information required for
a prospectus, product disclosure statement or other disclosure document under the Corporations Act. Any offer in Australia of the securities
may only be made to persons (the &ldquo;Exempt Investors&rdquo;) who are &ldquo;sophisticated investors&rdquo; (within the meaning of
section&nbsp;708(8)&nbsp;of the Corporations Act), &ldquo;professional investors&rdquo; (within the meaning of section 708(11)&nbsp;of
the Corporations Act) or otherwise pursuant to one or more exemptions contained in section 708 of the Corporations Act so that it is lawful
to offer the securities without disclosure to investors under Chapter&nbsp;6D of the Corporations Act.</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">The securities applied for by Exempt Investors
in Australia must not be offered for sale in Australia in the period of 12&nbsp;months after the date of allotment under the offering,
except in circumstances where disclosure to investors under Chapter&nbsp;6D of the Corporations Act would not be required pursuant to
an exemption under section 708 of the Corporations Act or otherwise or where the offer is pursuant to a disclosure document which complies
with Chapter&nbsp;6D of the Corporations Act. Any person acquiring securities must observe such Australian on-sale restrictions. This
prospectus contains general information only and does not take account of the investment objectives, financial situation or particular
needs of any particular person. It does not contain any securities recommendations or financial product advice. Before making an investment
decision, investors need to consider whether the information in this prospectus is appropriate to their needs, objectives and circumstances,
and, if necessary, seek expert advice on those matters.</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"><B>Notice to Prospective Investors in Switzerland</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-align: justify">The securities may not be publicly offered in
Switzerland and will not be listed on the SIX Swiss Exchange (&ldquo;SIX&rdquo;) or on any other stock exchange or regulated trading facility
in Switzerland. This document 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&nbsp;or
the listing rules&nbsp;of any other stock exchange or regulated trading facility in Switzerland. Neither this document 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Neither this document nor any other offering or
marketing material relating to the offering, the company, or the shares have been or will be filed with or approved by any Swiss regulatory
authority. In particular, this document will not be filed with, and the offer of securities will not be supervised by, the Swiss Financial
Market Supervisory Authority FINMA (FINMA), and the offer of securities has not been and will not be authorized under the Swiss Federal
Act on Collective Investment Schemes (&ldquo;CISA&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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Notice to Prospective Investors in Italy</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-align: justify">This prospectus has not been submitted to the
Commissione Nazionale per le Societ&agrave; e la Borsa, the Italian Securities Exchange Commission (&ldquo;CONSOB&rdquo;), for clearance
and will not be subject to formal review or clearance by CONSOB.</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">Accordingly, the Units&nbsp;may not be offered,
and copies of this prospectus or any other document relating to the shares may not be distributed in Italy except:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 0.5in; text-align: center">(a)</TD><TD STYLE="text-align: justify">to &ldquo;qualified investors&rdquo; (investitori qualificati),
as defined pursuant to Article&nbsp;34-ter, first paragraph, letter b), of CONSOB regulation No.&nbsp;11971 of May&nbsp;14, 1999, as
amended, concerning issuers (&ldquo;Regulation&nbsp;No.&nbsp;11971&rdquo;), but excluding (i)&nbsp;small and medium enterprises and natural
persons indicated in Regulation&nbsp;No.&nbsp;11971 that have not been included in the register of qualified investors, (ii)&nbsp;management
companies and financial intermediaries authorized to manage individual portfolios on behalf of third parties and (iii)&nbsp;fiduciary
companies managing portfolio investments regulated by Article&nbsp;60, paragraph 4 of Legislative Decree No.&nbsp;415 of July&nbsp;23,
1996; or</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: 215; Value: 197 -->
    <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: Arabic; Name: PageNo -->204<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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>

<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: 0.5in; text-align: center">(b)</TD><TD STYLE="text-align: justify">in other circumstances that are exempt from the rules&nbsp;on public offers pursuant to
                                                                                  Article&nbsp;100 of the Legislative Decree No.&nbsp;58 of February&nbsp;24, 1998, as amended (the &ldquo;Italian Financial
                                                                                  Act&rdquo;), and its implementing CONSOB regulations, including Regulation&nbsp;No.&nbsp;11971.</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; text-align: justify">Any such offer, sale or delivery of the Units&nbsp;offered
hereby or distribution of copies of this Prospectus, or any other document relating to the offering in the Republic of Italy must be in
compliance with the selling restrictions under</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 0.5in; text-align: center">(i)</TD><TD STYLE="text-align: justify">made by <I>soggetti abilitati</I> (including investment firms
(<I>imprese di investimento</I>), banks or financial intermediaries, as defined by Article&nbsp;1, first paragraph, letter r), of the
Italian Financial Act), to the extent duly authorized to engage in the offering and/or underwriting and/or purchase of financial instruments
in the Republic of Italy in accordance with the relevant provisions of the Italian Financial Act, CONSOB Regulation&nbsp;16190 of October&nbsp;29,
2007, as amended, Legislative Decree No.&nbsp;385 of September&nbsp;1, 1993, as amended (the &ldquo;<B>Italian Banking Act</B>&rdquo;)
and any other applicable laws and regulations; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 0.5in; text-align: center">(ii)</TD><TD STYLE="text-align: justify">in compliance with any other applicable requirements or limitations which may be imposed by CONSOB,
                                                                                   the Bank of Italy or any other Italian regulatory authority.</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; text-align: justify">Any investor purchasing the Units&nbsp;offered
hereby is solely responsible for ensuring that any offer or resale of the shares it purchased occurs in compliance with applicable laws
and regulations.</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">In accordance with Article&nbsp;100-bis of the
Italian Financial Act, the subsequent resale on the secondary market in the Republic of Italy of the Units&nbsp;offered hereby (which
were part of an offer made pursuant to an exemption from the obligation to publish a prospectus) constitutes a distinct and autonomous
offer that must be made in compliance with the public offer and prospectus requirement rules&nbsp;provided under the Italian Financial
Act and the Regulation&nbsp;No.&nbsp;11971 unless an exemption applies. Failure to comply with such rules&nbsp;may result in the subsequent
resale of such shares being declared null and void and the intermediary transferring the shares may be liable for any damage suffered
by the investors.</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"><B>Notice to Prospective Investors in the Cayman
Islands</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-align: justify">No offer or invitation, whether directly or indirectly
may be made to the public in the Cayman Islands to subscribe for 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"></P>

<!-- Field: Page; Sequence: 216; Value: 197 -->
    <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: Arabic; Name: PageNo -->205<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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="ca_010"></A>LEGAL MATTERS</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-align: justify; text-indent: 0.25in">Loeb&nbsp;&amp; Loeb LLP,
New York, New York, is acting as counsel in connection with the registration of our securities under the Securities Act, and as such,
will pass upon the validity of the securities offered in this prospectus with respect to units and rights. Ogier will pass upon the validity
of the securities offered in this prospectus with respect to the ordinary shares and matters of British Virgin Islands law. Certain legal
matters will be passed upon on behalf of the underwriters by Ellenoff Grossman &amp; Schole LLP.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="ca_009"></A>EXPERTS</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-align: justify; text-indent: 0.25in">The balance sheets of A SPAC
III Acquisition Corp. as of December&nbsp;31, 2023 and 2022, and the related statements of operations, changes in shareholder&rsquo;s
deficit and cash flows for the years ended December&nbsp;31, 2023 and December&nbsp;31, 2022, appearing in this prospectus have been audited
by WWC, 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 A SPAC III 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 upon such report given on the authority of such firm
as experts in accounting and auditing.</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: center"><B><A NAME="ca_008"></A>WHERE YOU CAN FIND ADDITIONAL INFORMATION</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-align: justify; text-indent: 0.25in">We have filed with the SEC
a registration statement on Form&nbsp;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">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">You may also obtain copies
of the documents at prescribed rates by writing to the Public Reference Section&nbsp;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">&nbsp;</P>

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

<!-- Field: Page; Sequence: 217; Value: 197 -->
    <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: Arabic; Name: PageNo -->206<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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 SPAC III ACQUISITION CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="ca_007"></A>INDEX TO FINANCIAL STATEMENTS</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="width: 93%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 5%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Page</B></FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Unaudited Financial Statements of A SPAC III Acquisition
    Corp.:&#8239;&#8239;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: 10pt"><A HREF="#da_019"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Report of Independent Registered
    Public Accounting Firm (PCAOB ID: </FONT>1171)</A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><A HREF="#da_019"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-1</FONT></A></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt"><A HREF="#da_020"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Condensed </FONT>Balance
    Sheets as of June&nbsp;30, 2024 (unaudited) and December&nbsp;31, 2023</A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><A HREF="#da_020"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-2</FONT></A></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt"><A HREF="#da_021"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unaudited Condensed Statements
    of Operations for the Three and Six Months Ended June&nbsp;30, 2024 and 202</FONT>3</A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><A HREF="#da_021"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-3</FONT></A></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt"><A HREF="#da_022"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unaudited Statements of Changes
    in Shareholder&rsquo;s Deficit for the Six Months Ended June&nbsp;30, 2024 and 2023</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><A HREF="#da_022"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-4</FONT></A></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt"><A HREF="#da_023"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unaudited Statements of Cash
    Flows for the Six Months Ended June&nbsp;30, 2024 and 2023</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><A HREF="#da_023"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-5</FONT></A></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 9pt"><A HREF="#sp10_005"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to Unaudited Condensed
    Financial Statements</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><A HREF="#sp10_005"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-6</FONT></A></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="width: 93%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 5%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Page</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Audited Financial Statements of A SPAC III Acquisition
    Corp.:&#8239;&#8239;</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 9pt"><A HREF="#sp10_006"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Report of Independent Registered
    Public Accounting Firm (PCAOB ID: </FONT><U>1171)</U></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><A HREF="#sp10_006"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-14</FONT></A></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-left: 9pt"><A HREF="#sp10_007"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Balance Sheets as of December&nbsp;31,
    2023 and 2022</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><A HREF="#sp10_007"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-15</FONT></A></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 9pt"><A HREF="#sp10_008"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Statements of Operations
    for the Year Ended December&nbsp;31, 2023 and 202</FONT><U>2</U></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><A HREF="#sp10_008"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-16</FONT></A></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-left: 9pt"><A HREF="#sp10_009"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Statements of Changes in
    Shareholder&rsquo;s Deficit&#8239;for the Year Ended December&nbsp;31, 2023 and 202</FONT>2</A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><A HREF="#sp10_009"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-17</FONT></A></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 9pt"><A HREF="#sp10_010"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Statements of Cash Flows
    for the Year Ended December&nbsp;31, 2023 and 2022</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><A HREF="#sp10_010"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-18</FONT></A></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-left: 9pt"><A HREF="#sp10_011"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes to Financial Statements</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><A HREF="#sp10_011"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-19</FONT></A></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: 218; Value: 197 -->
    <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: Arabic; Name: PageNo -->207<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><IMG SRC="tm2420226d1_drsaimgsp9001.jpg" ALT="A close-up of a certificate&#10;&#10;Description automatically generated" STYLE="height: 89px; width: 590px"></B></FONT></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: center"><B><A NAME="da_019"></A>REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM</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">To:&#8239;&#8239;&#8239;&#8239;The Board of Directors and Shareholder
of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&#8239;&#8239;A SPAC III Acquisition Corp.</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>Results of Review of Interim Financial Information</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-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have reviewed the unaudited condensed balance sheet of </FONT>A SPAC III Acquisition Corp. <FONT STYLE="font-family: Times New Roman, Times, Serif">(the
 &ldquo;Company&rdquo;) as of June&nbsp;30, 2024 and the related unaudited condensed statements of operations, </FONT>changes in shareholder&rsquo;s
deficit<FONT STYLE="font-family: Times New Roman, Times, Serif">, and cash flows for the&nbsp;six-month periods ended June&nbsp;30, 2024
and 2023, and the related notes (collectively referred to as the &ldquo;unaudited condensed financial statements&rdquo;). Based on our
reviews, we are not aware of any material modifications that should be made to the accompanying unaudited condensed financial statements
for them to be in conformity with accounting principles generally accepted in the United&nbsp;States of America.</FONT></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have previously audited, in accordance with the standards of the Public Company Accounting Oversight Board (United&nbsp;States) (PCAOB),
the balance sheets of the Company as of December&nbsp;31, 2023 and 2022, and the related statements of operations, changes in shareholders&rsquo;
deficit and cash flows for each of the&nbsp;years in the two-year period ended (not presented herein); and in our report dated July&nbsp;29,
2024, we expressed an unqualified opinion on those financial statements. In our opinion, the information set forth in the accompanying
balance sheet as of December&nbsp;31, 2023 and 2022, is fairly stated, in all material respects, in relation to the balance sheet from
which it has been derived.</FONT> Our opinion indicated that there was substantial doubt that the Company may continue as a going concern.
As of the date of this report that doubt still exists.</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"><B>Substantial Doubt about the Company&rsquo;s
Ability to Continue as a Going Concern</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</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">The
accompanying </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">unaudited condensed </FONT>financial statements have been
prepared assuming that the Company will continue as a going concern. As discussed in Note 1 to the <FONT STYLE="font-family: Times New Roman, Times, Serif">unaudited
condensed </FONT>financial statements, the Company has incurred losses and has an accumulated deficit which raise substantial doubt about
its ability to continue as a going concern. Management&rsquo;s plan in regard to these matters is described in Note 1 of the <FONT STYLE="font-family: Times New Roman, Times, Serif">unaudited
condensed </FONT>financial statements. These <FONT STYLE="font-family: Times New Roman, Times, Serif">unaudited condensed </FONT>financial
statements do not include any adjustments that might result from the outcome of this uncertainty.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Basis for Review Results</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-align: justify">These unaudited condensed financial statements
are the responsibility of the Company&rsquo;s management. We conducted our review in accordance with the standards of the PCAOB.&nbsp;A
review of unaudited condensed financial information consists principally of applying analytical procedures and making inquiries of persons
responsible for financial and accounting matters. It is substantially less in scope than an audit conducted in accordance with standards
of the PCAOB, the objective of which is the expression of an opinion regarding the unaudited condensed financial statements taken as a
whole. Accordingly, we do not express such an opinion. We are a public accounting firm registered with the Public Company Accounting Oversight
Board (United&nbsp;States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S.&nbsp;federal
securities laws and the applicable rules&nbsp;and regulations of the Securities and Exchange Commission and the PCAOB.</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"><I>/s/ WWC, P.C.</I></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">PCAOB ID No.&nbsp;1171</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">We have served as the Company&rsquo;s auditor
since 2024.</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">San Mateo, California</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">July&nbsp;</FONT>29,
2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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"><I><IMG SRC="tm2420226d1_drsasp9img002.jpg" ALT="">&nbsp;</I></P>

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

<!-- Field: Page; Sequence: 219; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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"><I>&nbsp;</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; text-align: center; background-color: white"><B>A SPAC III ACQUISITION
CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="da_020"></A>CONDENSED BALANCE SHEETS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B>AS OF JUNE 30, 2024
AND DECEMBER 31, 2023</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>As
of<BR>
June&nbsp;30,<BR>
2024</B></P></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">As of<BR>
 December&nbsp;31,<BR>
 &#8239;2023</TD><TD STYLE="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: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">(Unaudited)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">(Audited)</TD><TD STYLE="font: 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><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">Total Assets</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">&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-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: bold 10pt Times New Roman, Times, Serif; text-align: left">LIABILITIES AND SHAREHOLDERS&rsquo; 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: 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><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: 74%; text-align: left">Accrued expenses</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">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">22,925</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">14,925</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">Promissory note - related party</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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">125,651</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="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">125,651</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">Total current liabilities</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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">148,576</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="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">140,576</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: bold 10pt Times New Roman, Times, Serif; text-align: left">Total Liabilities</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">148,576</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">140,576</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: bold 10pt Times New Roman, Times, Serif; text-align: left">Commitments and Contingencies</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-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: bold 10pt Times New Roman, Times, Serif; text-align: left">Shareholder&rsquo;s 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: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Preferred shares, no par value; 1,000,000 shares authorized; none issued and outstanding as of June&nbsp;30, 2024 and December&nbsp;31, 2023</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&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">Class&nbsp;A ordinary shares, no par value; 100,000,000 shares authorized; none issued and outstanding as of June&nbsp;30, 2024 and December&nbsp;31, 2023</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><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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class&nbsp;B ordinary shares, no par value; 10,000,000 shares authorized; 1,581,250 shares issued and outstanding&nbsp;as of June&nbsp;30, 2024 and December&nbsp;31, 2023 <SUP>(1)</SUP></FONT><SUP>&nbsp;(2)</SUP></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><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">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">25,000</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">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">Accumulated deficit</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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">(173,576</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="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">(165,576</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: bold 10pt Times New Roman, Times, Serif; text-align: left">Total Shareholder&rsquo;s Deficit</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(148,576</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(140,576</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: bold 10pt Times New Roman, Times, Serif; text-align: left">Total Liabilities and Shareholder&rsquo;s Deficit</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</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">&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">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD><TD STYLE="text-align: justify">Includes up to 206,250 Class&nbsp;B ordinary shares subject to forfeiture if the over-allotment option is not exercised in full or
in part by the underwriters (see Note 5).</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD>(2)</TD><TD STYLE="text-align: justify">Shares have been retroactively restated to reflect a share subscription and purchase agreement. On September&nbsp;3, 2021, 1,437,500
Class&nbsp;B ordinary shares were issued to the Sponsor for $25,000. On July&nbsp;23, 2024, the Company issued 1,581,250 Class&nbsp;B
ordinary shares to the Sponsor for $25,000, and immediately repurchased the 1,437,500 initial shares from the Sponsor for $25,000, resulting
in 1,581,250 Class&nbsp;B ordinary shares outstanding after the repurchase (of which an aggregate of up to 206,250 shares are subject
to forfeiture if the over-allotment option is not exercised in full or in part by the underwriter) (See Note 5).</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; text-align: center; background-color: white">The accompanying notes
are an integral part of the unaudited condensed financial statements.</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: 220; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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-top: 0pt; margin-bottom: 0pt; text-align: center"><B>A
SPAC III ACQUISITION CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><A NAME="da_021"></A>UNAUDITED CONDENSED STATEMENTS
OF OPERATIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FOR THE THREE AND SIX MONTHS ENDED JUNE 30,
2024 AND&nbsp;2023</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">For the three&nbsp;months&nbsp;ended<BR> June&nbsp;30,</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">For the six months ended<BR> June&nbsp;30,</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</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: 48%; text-align: left">General administrative expenses</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">(8,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">(8,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</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: White">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Loss before tax expense</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">$</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">(8,000</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</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">$</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">(8,000</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</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: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Tax expense</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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; 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 loss</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(8,000</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">&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="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(8,000</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">&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: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Weighted average shares outstanding, basic and diluted </B></FONT><SUP>(1)&nbsp;(2)</SUP></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&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">1,375,000</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="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">1,375,000</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="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">1,375,000</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="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">1,375,000</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Basic and diluted net loss per ordinary share</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(0.00</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">&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="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(0.00</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="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">&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"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD><TD STYLE="text-align: justify">Excludes up to 206,250 Class&nbsp;B ordinary shares subject to forfeiture if the over-allotment option is not exercised in full or
in part by the underwriters (see Note 5).</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD><TD STYLE="text-align: justify">Shares have been retroactively restated to reflect a share subscription and purchase agreement. On September&nbsp;3, 2021, 1,437,500
Class&nbsp;B ordinary shares were issued to the Sponsor for $25,000. On July&nbsp;23, 2024, the Company issued 1,581,250 Class&nbsp;B
ordinary shares to the Sponsor for $25,000, and immediately repurchased the 1,437,500 initial shares from the Sponsor for $25,000, resulting
in 1,581,250 Class&nbsp;B ordinary shares outstanding after the repurchase (of which an aggregate of up to 206,250 shares are subject
to forfeiture if the over-allotment option is not exercised in full or in part by the underwriter) (See Note 5).</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; text-align: center">The accompanying notes are an integral part of
the unaudited condensed financial statements.</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: 221; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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 SPAC III ACQUISITION
CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="da_022"></A>UNAUDITED STATEMENTS OF CHANGES IN SHAREHOLDER&rsquo;
S DEFICIT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE SIX MONTHS ENDED JUNE 30, 2024 AND&nbsp;2023</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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>For
the </U></B></FONT><B><U>six months ended June&nbsp;30, 2024</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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="vertical-align: bottom; font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Class&nbsp;B<BR>
ordinary
shares</B></P></TD><TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD><TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Additional <BR> paid-in</TD><TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD><TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Accumulated</TD><TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD><TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Total <BR> shareholder&rsquo;s</TD><TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; 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>Shares </B></FONT><SUP>(1)&nbsp;(2)</SUP></TD><TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD><TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Amount</TD><TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD><TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">capital</TD><TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD><TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">deficit</TD><TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD><TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">deficit</TD><TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 35%">Balance as of January&nbsp;1, 2024</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">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">1,581,250</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</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">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">&mdash;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</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><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">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">(165,576</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">(140,576</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; 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">Net loss</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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">(8,000</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="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">(8,000</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: bold 10pt Times New Roman, Times, Serif">Balance as of June&nbsp;30, 2024</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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">1,581,250</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="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">25,000</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="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">(173,576</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">(148,576</TD><TD STYLE="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-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>For
the </U></B></FONT><B><U>six months ended June&nbsp;30, 2023</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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="vertical-align: bottom; font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-align: center"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Class&nbsp;B</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ordinary shares</B></P></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">Additional <BR> paid-in</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">Accumulated</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">Total <BR> shareholder&rsquo;s</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Shares </B></FONT><SUP>(1)&nbsp;(2)</SUP></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Amount</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-align: center">capital</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-align: center">deficit</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-align: center">deficit</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 35%">Balance as of January&nbsp;1, 2023</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">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">1,581,250</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</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">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">&mdash;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</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><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">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">(162,926</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">(137,926</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; 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">Net loss</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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; 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">Balance as of June&nbsp;30, 2023</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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">1,581,250</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="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">25,000</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="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">(162,926</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">(137,926</TD><TD STYLE="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">&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">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD><TD STYLE="text-align: justify">Includes up to 206,250 Class&nbsp;B ordinary shares subject to forfeiture if the over-allotment option is not exercised in full or
in part by the underwriters (see Note 5).</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD><TD STYLE="text-align: justify">Shares have been retroactively restated to reflect a share subscription and purchase agreement. On September&nbsp;3, 2021, 1,437,500
Class&nbsp;B ordinary shares were issued to the Sponsor for $25,000. On July&nbsp;23, 2024, the Company issued 1,581,250 Class&nbsp;B
ordinary shares to the Sponsor for $25,000, and immediately repurchased the 1,437,500 initial shares from the Sponsor for $25,000, resulting
in 1,581,250 Class&nbsp;B ordinary shares outstanding after the repurchase (of which an aggregate of up to 206,250 shares are subject
to forfeiture if the over-allotment option is not exercised in full or in part by the underwriter) (See Note 5).</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; text-align: center">The accompanying notes are an integral part of
the unaudited condensed financial statements.</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: 222; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>A
SPAC III ACQUISITION CORP.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>UNAUDITED
STATEMENT</B></FONT><B><A NAME="da_023"></A>S OF CASH FLOWS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><FONT STYLE="font-family: Times New Roman, Times, Serif">FOR THE SIX MONTHS ENDED JUNE 30, 2024
AND&nbsp;2023</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">For the six months ended<BR> June&nbsp;30,</TD><TD STYLE="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">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</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; 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><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: 74%; text-align: left">Net loss</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">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">(8,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">&mdash;</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: bold 10pt Times New Roman, Times, Serif; text-align: left">Changes in operating assets and 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><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">Accrued expenses</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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">8,000</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="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; 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">Net cash used in operating activities</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&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">&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="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">&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="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: bold 10pt Times New Roman, Times, Serif; text-align: left">Net change in cash and cash equivalents</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><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">Cash and cash equivalents at the beginning of the year</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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; 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 and cash equivalents at the end of the year</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The accompanying notes are an integral part of
the unaudited condensed financial statements.</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: 223; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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 SPAC III ACQUISITION CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="sp10_005"></A>NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS</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-align: justify"><B>Note 1&nbsp;&mdash; Organization and Business
Operations</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-align: justify">A SPAC III Acquisition Corp. (the &ldquo;Company&rdquo;)
is blank check company incorporated as a British Virgin Island business company on September&nbsp;3, 2021. The Company was incorporated
for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar Business Combination
with one or more businesses (the &ldquo;Business Combination&rdquo;). The Company has not selected any potential Business Combination
target and the Company has not, nor has anyone on its behalf, initiated any substantive discussions, directly or indirectly, with any
potential Business Combination target.</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">As of June&nbsp;30, 2024, the Company had not
commenced any operations. All activity for the period from September&nbsp;3, 2021 (inception) through June&nbsp;30, 2024 relates to the
Company&rsquo;s formation and the Proposed Public Offering (as defined below). The Company will not generate any operating revenues until
after the completion of its initial Business Combination, at the earliest. The Company will generate non-operating&nbsp;income in the
form of interest income on cash and cash equivalents from the proceeds derived from the Proposed Public Offering (as defined below). The
Company has selected December&nbsp;31 as its fiscal year end.</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"> The Company&rsquo;s Sponsor is A SPAC III
(Holdings) Corp., a British Virgin Islands company (the &ldquo;sponsor&rdquo;). The Company&rsquo;s ability to commence operations is
contingent upon obtaining adequate financial resources through a Proposed Public Offering of 5,500,000 units at $10.00 per unit (the
 &ldquo;Units&rdquo;) (or 6,325,000 Units if the underwriters&rsquo; over-allotment&nbsp;option is exercised in full), which is discussed
in Note 3 (the &ldquo;Proposed Public Offering&rdquo;), and the sale of 280,000 units (the &ldquo;Private Placement Units&rdquo;) (or
288,250 units if the over-allotment option is exercised in full) at a price of $10.00 per unit for an aggregate purchase price of $2,800,000
(or $2,882,500 if the over-allotment option is exercised in full) to the Sponsor, at a price of $10.00&nbsp;per Units in a private placement
that will close simultaneously with the Proposed Public Offering. Each Unit consists of one Class&nbsp;A ordinary share and one right
to receive one-fourth of one Class&nbsp;A ordinary share upon the completion of the initial Business Combination. Each Private Placement
Unit will be identical to the units sold in the Proposed Public offering, except as described in Note 4. The Company&rsquo;s management
has broad discretion with respect to the specific application of the net proceeds of the Proposed Public Offering and the Private Placement
Units, although substantially all of the net proceeds are intended to be generally applied toward consummating a Business Combination
(less any taxes payable on interest earned and less any interest earned thereon that is released to the Company for taxes). </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">The initial Business Combination must be with
one or more target businesses or assets having an aggregate fair market value of at least 80% of the value of the Trust Account (defined
below) (less any taxes payable on interest earned and less any interest earned thereon that is released to the Company for taxes) at the
time of signing a definitive agreement in connection with the initial Business Combination. However, 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.</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">Upon the closing of the Proposed Public Offering,
management has agreed that an aggregate of $10.00 per Unit sold in the Proposed Public Offering will be held in a Trust Account (&ldquo;Trust
Account&rdquo;) and will be invested only in U.S. government treasury bills with a maturity of 180 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. Except with respect to interest earned on the funds held in the Trust Account that may be released to the Company to pay
its taxes, if any, the proceeds from the Proposed Public Offering and the private placement will not be released from the Trust Account
until the earliest of (i)&nbsp;the completion of the initial Business Combination, (ii)&nbsp;the redemption of any public shares properly
tendered in connection with a shareholder vote to amend the Company&rsquo;s amended and restated memorandum and articles of association
to (A)&nbsp;modify the substance or timing of the Company&rsquo;s obligation to redeem 100% of the public shares if the Company does not
complete the initial Business Combination within the Combination Period (defined below) or (B)&nbsp;with respect to any other provision
relating to shareholders&rsquo; rights or pre-Business Combination activity and (iii)&nbsp;the redemption of all of the public shares
if the Company is unable to complete the initial Business Combination within the Combination Period (defined below), subject to applicable
law. The proceeds deposited in the Trust Account could become subject to the claims of the creditors, if any, which could have priority
over the claims of the public shareholders.</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">The Company will provide the public shareholders
with the opportunity to redeem all or a portion of their public shares upon the completion of the initial Business Combination either
(i)&nbsp;in connection with a shareholder meeting called to approve the Business Combination or (ii)&nbsp;by means of a tender offer.
The decision as to whether the Company will seek shareholder approval of a proposed Business Combination or conduct a tender offer will
be made by the Company, solely in its 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 the Company to seek shareholder approval under the law or stock exchange listing requirement.
The Company will provide the public shareholders with the opportunity to redeem all or a portion of their public shares upon the completion
of the 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 (which interest shall
be net of taxes payable) 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 (subject to increase of up to an additional $0.20 per unit
in the event that the Sponsor elects to extend the period of time to consummate a Business Combination, as described in more detail in
the Proposed Public 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"></P>

<!-- Field: Page; Sequence: 224; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&nbsp;will account for its Class&nbsp;A ordinary shares subject to possible redemption in accordance with the guidance in ASC Topic
480, &ldquo;Distinguishing Liabilities from Equity&rdquo; (ASC 480). Ordinary shares subject to mandatory redemption (if any) will be
classified as a liability instrument and will be measured at fair value. Conditionally redeemable ordinary shares (including ordinary
shares that features redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of
uncertain events not solely within the Company&rsquo;s control) will be classified as temporary equity. At all other times, ordinary shares
will be classified as s</FONT>hareholder&rsquo;s equity. In accordance with ASC 480-10-S99, the Company will classify Class&nbsp;A ordinary
shares subject to redemption outside of permanent equity as the redemption provisions are not solely within the control of the Company.
Given that the 5,500,000 Class&nbsp;A ordinary shares sold as part of the units in the offering will be issued with other freestanding
instruments (i.e., rights), the initial carrying value of Class&nbsp;A ordinary shares classified as temporary equity will be the allocated
proceeds determined in accordance with ASC 470-20. If it is probable that the equity instrument will become redeemable, the Company has
the option to either (i)&nbsp;accrete changes in the redemption value over the period from the date of issuance (or from the date that
it becomes probable that the instrument will become redeemable, if later) to the earliest redemption date of the instrument or (ii)&nbsp;recognize
changes in the redemption value immediately as they occur and adjust the carrying amount of the instrument to equal the redemption value
at the end of each reporting period. The Company has elected to recognize the changes in redemption value as a charge against retained
earnings or, in the absence of retained earnings, as a charge against additional paid-in-capital over an expected 12-month period leading
up to a 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; text-align: justify"> The Company will have only 12 months from
the closing of the Proposed Public Offering (or up to 18 months from the closing of the Proposed Public Offering if the Company extend
the period of time to consummate a Business Combination by 2 extensions of 3 months) (the &ldquo;Combination Period&rdquo;) to complete
the initial Business Combination. If the Company has not completed the initial Business Combination within the Combination Period, the
Company 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 (which interest shall be net of taxes payable, and less up to $200,000 of interest
to pay dissolution expenses) divided by the number of then outstanding public shares, which redemption will completely extinguish public
shareholders&rsquo; rights as shareholders (including the right to receive further liquidation distributions, if any), subject to applicable
law, and (iii)&nbsp;as promptly as reasonably possible following such redemption, subject to the approval of the Company&rsquo;s remaining
shareholders and the Board of Directors, liquidate and dissolve, subject in each case to the Company&rsquo;s obligations under British
Virgin Islands law to provide for claims of creditors and the requirements of other applicable law. </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"> <FONT STYLE="font-family: Times New Roman, Times, Serif">The
underwriters, the Sponsor, officers and directors have agreed to (i)&nbsp;to waive their redemption rights with respect to their Founder
Shares (as defined in Note 5), Representative&rsquo;s Shares (as defined in Note 6) and public shares in connection with the completion
of the initial Business Combination and (ii)&nbsp;to waive their rights to liquidating distributions from the Trust Account with respect
to their Founder Shares if the Company fails to complete the initial Business Combination within the Combination Period (although they
will be entitled to liquidating distributions from the Trust Account with respect to any public shares they hold if the Company fails
to complete the initial Business Combination within the Combination Period). If the Company submits the initial Business Combination
to the public shareholders for a vote, the underwriters, the Sponsor, officers and directors have agreed (and their permitted transferees
will agree), pursuant to the terms of a letter agreement entered into with the Company, to vote any Founder Shares</FONT>, Private Placement
Shares, and Representative&rsquo;s Shares held by them and any public shares purchased during or after the Proposed Public offering in
favor of the 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; text-align: justify">The Company&rsquo;s Sponsor has agreed that it
will be liable to the Company if and to the extent any claims by a vendor for services rendered or products sold to the Company, or a
prospective target business with which the Company has discussed entering into a transaction agreement, reduce the amount of funds in
the Trust Account to below (i)&nbsp;$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 the value of the trust assets, in each case net of the interest
which may be withdrawn to pay taxes, except as to any claims by a third party who executed a waiver of any and all rights to seek access
to the Trust Account and except as to any claims under the Company&rsquo;s indemnity of the underwriters of the Proposed Public Offering
against certain liabilities, including liabilities under the Securities Act. Moreover, in the event that an executed waiver is deemed
to be unenforceable against a third party, the Sponsor will not be responsible to the extent of any liability for such third -party claims.
The Company has not independently verified whether the Sponsor has sufficient funds to satisfy their indemnity obligations and believes
that the Sponsor&rsquo;s only assets are securities of the Company. The Company has not asked the Sponsor to reserve for such obligations.</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"><B>Going Concern Consideration</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-align: justify">As of June&nbsp;30, 2024, the Company had no cash
and a working capital deficit of $148,576. The Sponsor has agreed to loan the Company up to $350,000 to be used for a portion of the expenses
of the Proposed Public Offering. The loan is non-interest&nbsp;bearing, unsecured and shall be payable promptly after the date on which
the Company consummates an initial public offering of its securities or the date on which the Company determines not to conduct an initial
public offering of its securities. These loans will be repaid upon the closing of the Proposed Public Offering out of the offering proceeds
not held in the Trust Account. As of June&nbsp;30, 2024 and December&nbsp;31, 2023, the Company had borrowed $125,651 under the promissory
note.</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">The Company has incurred and expects to continue
to incur significant costs in pursuit of its financing and acquisition plans. These conditions raise substantial doubt about the Company&rsquo;s
ability to continue as a going concern. Management plans to address this uncertainty through a Proposed Public Offering as discussed in
Note&nbsp;3. There is no assurance that the Company&rsquo;s plans to raise capital or to consummate a Business Combination will be successful
within the Combination Period. The unaudited condensed financial statements do not include any adjustments that might result from the
outcome of this uncertainty.</P>

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

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

<!-- Field: Page; Sequence: 225; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B>Risks and Uncertainties</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-align: justify">In February&nbsp;2022, an armed conflict escalated
between Russia and Ukraine. The sanctions announced by the United States and other countries against Russia and Belarus following Russia&rsquo;s
invasion of Ukraine to date include restrictions on selling or importing goods, services, or technology in or from affected regions and
travel bans and asset freezes impacting connected individuals and political, military, business, and financial organizations in Russia
and Belarus. The United States and other countries could impose wider sanctions and take other actions should the conflict further escalate.
Separately, in October&nbsp;2023,&nbsp;Israel and certain Iranian-backed Palestinian forces began an armed conflict in Israel, the Gaza
Strip, and surrounding areas, which threatens to spread to other Middle Eastern countries including Lebanon and Iran.</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">As a result of the ongoing Russia/Ukraine, Hamas/Israel
conflicts and/or other future global conflicts, the Company&rsquo;s ability to consummate a Business Combination, or the operations of
a target business with which the Company ultimately consummates a Business Combination, may be materially and adversely affected. In addition,
the Company&rsquo;s ability to consummate a transaction may be dependent on the ability to raise equity and debt financing which may be
impacted by these events, including as a result of increased market volatility, or decreased market liquidity in third-party financing
being unavailable on terms acceptable to the Company or at all. The impact of this action and potential future sanctions on the world
economy and the specific impact on the Company&rsquo;s financial position, results of operations or ability to consummate a Business Combination
are not yet determinable. The unaudited condensed financial statements do not include any adjustments that might result from the outcome
of this uncertainty.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Note 2&nbsp;&mdash; Basis of Presentation and
Summary of Significant Accounting Policies</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-align: justify"><B>Basis of Presentation</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-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">These
accompanying unaudited condensed financial statements have been prepared in accordance with generally accepted accounting principles in
the United States of America (&ldquo;U.S. GAAP&rdquo;) for interim financial statements and Article&nbsp;8 of Regulation S-X. They do
not include all of the information and notes required by U.S. GAAP for complete financial statements. The unaudited condensed financial
statements should be read in conjunction with the Company&rsquo;s financial statements and notes thereto for the year ended December&nbsp;31,
2023 included in the Company&rsquo;s Form&nbsp;S-1</FONT> filing. Certain information or footnote disclosures normally included in the
unaudited condensed financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules&nbsp;and
regulations of the SEC for interim financial reporting. Accordingly, they do not include all the information and footnotes necessary for
a complete presentation of financial position, results of operations, or cash flows. In the opinion of management, the accompanying unaudited
condensed 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 periods presented.</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"><B>Emerging Growth Company Status</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-align: justify">The Company is an &ldquo;emerging growth company,&rdquo;
as defined in Section&nbsp;2(a)&nbsp;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 auditor attestation requirements
of Section&nbsp;404 of the Sarbanes-Oxley&nbsp;Act, reduced disclosure obligations regarding executive compensation in its periodic reports
and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder
approval of any golden parachute payments not previously approved.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Further, Section&nbsp;102(b)(1)&nbsp;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&nbsp;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 unaudited condensed 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Use of Estimates</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-align: justify">The preparation of unaudited condensed financial
statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets
and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed financial statements and the
reported amounts of expenses during the reporting period. Actual results could differ from those estimates.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Cash and Cash Equivalents</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-align: justify">The Company considers all short-term&nbsp;investments
with an original maturity of three months or less when purchased to be cash equivalents. The Company did not have any cash or cash equivalents
as of June&nbsp;30, 2024 and December&nbsp;31, 2023.</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: 226; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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>Deferred Offering Costs</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-align: justify">Deferred offering costs consist of legal and other
professional expenses incurred through the balance sheet date that are directly related to the Proposed Public Offering. Offering costs
are allocated to the separable financial instruments issued in the initial public offering based on a relative fair value basis compared
to total proceeds received. Should the Proposed Public Offering prove to be unsuccessful, these deferred costs, as well as additional
expenses to be incurred, will be charged to operations. As of&nbsp;June&nbsp;30, 2024 and December&nbsp;31, 2023, the Company did not
have deferred offering costs.</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"><B>Fair Value of Financial Instruments</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-align: justify">The fair value of the Company&rsquo;s assets and
liabilities, which qualify as financial instruments under FASB ASC 820, &ldquo;Fair Value Measurements and Disclosures,&rdquo; approximates
the carrying amounts represented in the balance sheet, primarily due to its short-term nature.</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">The Company applies ASC 820, which establishes
a framework for measuring fair value and clarifies the definition of fair value within that framework. ASC 820 defines fair value as an
exit price, which is the price that would be received for an asset or paid to transfer a liability in the Company&rsquo;s principal or
most advantageous market in an orderly transaction between market participants on the measurement date. The fair value hierarchy established
in ASC 820 generally requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring
fair value. Observable inputs reflect the assumptions that market participants would use in pricing the asset or liability and are developed
based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the entity&rsquo;s own assumptions
based on market data and the entity&rsquo;s judgments about the assumptions that market participants would use in pricing the asset or
liability and are to be developed based on the best information available in the circumstances.</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">Level 1&mdash;Assets and liabilities with unadjusted,
quoted prices listed on active market exchanges. Inputs to the fair value measurement are observable inputs, such as quoted prices in
active markets for identical assets or liabilities.</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">Level 2&mdash;Inputs to the fair value measurement
are determined using prices for recently traded assets and liabilities with similar underlying terms, as well as direct or indirect observable
inputs, such as interest rates and yield curves that are observable at commonly quoted intervals.</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">Level 3&mdash;Inputs to the fair value measurement
are unobservable inputs, such as estimates, assumptions, and valuation techniques when little or no market data exists for the assets
or liabilities.</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"><B>Net Loss Per Ordinary Share</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-align: justify">Net loss per share is computed by dividing net
loss by the weighted average number of ordinary shares outstanding during the period, excluding ordinary shares subject to forfeiture.
Weighted average shares were reduced for the effect of an aggregate of 206,250 ordinary shares that are subject to forfeiture if the over-allotment&nbsp;option
is not exercised by the underwriters (see Notes 5). As of June&nbsp;30, 2024 and December&nbsp;31, 2023, the Company did not have any
dilutive securities and other contracts that could, potentially, be exercised or converted into ordinary shares 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 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Income Taxes</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-align: justify">The Company follows the asset and liability method
of accounting for income taxes under FASB ASC 740, &ldquo;Income Taxes.&rdquo; Deferred tax assets and liabilities are recognized for
the estimated future tax consequences attributable to differences between the unaudited condensed financial statements carrying amounts
of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax
rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The
effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that included the enactment
date. 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 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ASC Topic 740 prescribes a recognition threshold
and a measurement attribute for the unaudited condensed 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&rsquo;s management determined that the British Virgin Islands is the Company&rsquo;s major tax jurisdiction.
The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. As of June&nbsp;30,
2024 and December&nbsp;31, 2023, there were no unrecognized tax benefits and no amounts accrued for interest and penalties. The Company
is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position.
The Company&rsquo;s management does not expect that the total amount of unrecognized tax benefits will materially change over the next
twelve months.</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company is considered to be a British Virgin Islands business company
with no connection to any other taxable jurisdiction and is presently not subject to income taxes or income tax filing requirements in
the British Virgin Islands or the United States. As such, the Company&rsquo;s tax provision was zero for the period presented.</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: 227; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B>Recent Accounting Pronouncements</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-align: justify">In August&nbsp;2020, the FASB issued ASU 2020-06,
Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity&rsquo;s Own Equity (Subtopic
815-40): Accounting for Convertible Instruments and Contracts in an Entity&rsquo;s Own Equity (&ldquo;ASU 2020-06&rdquo;), which simplifies
accounting for convertible instruments by removing major separation models required under current GAAP. The ASU also removes certain settlement
conditions that are required for equity-linked contracts to qualify for scope exception, and it simplifies the diluted earnings per share
calculation in certain areas. ASU 2020-06 is effective January&nbsp;1, 2024 and should be applied on a full or modified retrospective
basis, with early adoption permitted beginning on January&nbsp;1, 2021. The Company has assessed the influence of the adoption of ASU
2020-06 and concluded that there&rsquo;s no impact on the Company&rsquo;s unaudited condensed financial statements. The Company adopted
ASU 2020-06 on January&nbsp;1, 2024.</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">The Company&rsquo;s management does not believe
that any other recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying
unaudited condensed financial statements.</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>Note 3&nbsp;&mdash; Proposed Public Offering</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-align: justify">In the Proposed Public Offering, the Company will
offer for sale up to 5,500,000 Units, (or 6,325,000 Units if the underwriters&rsquo; over-allotment&nbsp;option is exercised in full)
at a purchase price of $10.00 per Unit. Each Unit that the Company is offering has a price of $10.00 and consists of one Class&nbsp;A
ordinary share with no par value and one right. Each right entitles the holder to receive one-fourth (1/4) of one Class&nbsp;A ordinary
share upon the consummation of the Company&rsquo;s initial Business Combination. The Company will not issue fractional shares upon conversion
of the rights, as disclosed in Note 7.</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>Note 4&nbsp;&mdash; Private Placement</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-align: justify">The Company&rsquo;s Sponsor has committed to purchase
an aggregate of 280,000 units (or 288,250 units if the over-allotment option is exercised in full) at a price of $10.00 per unit for an
aggregate purchase price of $2,800,000 (or $2,882,500 if the over-allotment option is exercised in full). Each Private Placement Unit
will be identical to the units sold in the Proposed Public Offering, except as described below. The Private Placement Units will be sold
in a private placement that will close simultaneously with the closing of the Proposed Public Offering, including the over-allotment option,
as applicable. There will be no redemption rights or liquidating distributions from the Trust Account with respect to the Founder Shares,
private placement shares or private placement rights. The rights will expire worthless if the Company does not consummate a Business Combination
within the allotted 12-month period (or up to 18 months from the completion of the Proposed Public Offering if the Company extends the
period of time to consummate a Business Combination by two extensions of three months each).</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">The private placement units, private placement
shares, private placement rights and the Class&nbsp;A ordinary shares underlying such rights will not be transferable, assignable or salable
by the Sponsor until thirty (30) days after the completion of the Company&rsquo;s initial Business Combination, except to permitted transferees.</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"><B>Note 5&nbsp;&mdash; Related Party Transactions</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-align: justify"><B>Founder Shares</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-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
September&nbsp;3, 2021, the Company&rsquo;s Sponsor paid $25,000, or approximately $0.017 per share, to cover certain of the offering
and formation costs in exchange for an aggregate of 1,437,500 Class&nbsp;B ordinary shares (the &ldquo;Founder Shares&rdquo;) with no
par value</FONT>. Founder Shares have been retroactively restated to reflect a share subscription and purchase agreement. On July&nbsp;23,
2024, the Company issued 1,581,250 Founder Shares to the Sponsor for $25,000, and immediately repurchased the 1,437,500 initial shares
from the Sponsor for $25,000, resulting in 1,581,250 Founder Shares outstanding after the repurchase, of which an aggregate of up to 206,250
shares are subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriter.</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">The Sponsor has agreed not to transfer, assign
or sell any of its Founder Shares until the earlier to occur of: (A)&nbsp;six months after the completion of the initial Business Combination
or (B)&nbsp;the date on which the Company completes a liquidation, merger, share exchange, reorganization or other similar transaction
after the initial Business Combination that results in all of the Company&rsquo;s public shareholders having the right to exchange their
ordinary shares for cash, securities or other property (the &ldquo;Lock-up&rdquo;). Notwithstanding the foregoing, if the last sale price
of the Company&rsquo;s ordinary shares equals or exceeds $12.00 per share (as adjusted for share splits, share capitalizations, rights
issuances, subdivisions, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day after the
initial Business Combination, the Founder Shares will be released from the Lock-up.</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: 228; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B>Promissory Note&nbsp;&mdash; Related Party</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-align: justify">The Sponsor has agreed to loan the Company up
to $350,000 to be used for a portion of the expenses of the Proposed Public Offering. The loan is non-interest&nbsp;bearing, unsecured
and shall be payable promptly after the date on which the Company consummates an initial public offering of its securities or the date
on which the Company determines not to conduct an initial public offering of its securities. These loans will be repaid upon the closing
of the Proposed Public Offering out of the offering proceeds not held in the Trust Account. As of December&nbsp;31, 2023 and 2022, the
Company had borrowed $125,651 and $120,351, respectively, under the promissory note.</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"><B>Working Capital Loans</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-align: justify">In addition, in order to finance transaction costs
in connection with an intended Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the Company's officers
and directors may, but are not obligated to, loan the Company funds as may be required (&ldquo;Working Capital Loans&rdquo;). If the Company
completes the initial Business Combination, the Company may repay the Working Capital Loans. In the event that the initial Business Combination
does not close, the Company may use a portion of the working capital held outside the Trust Account to repay the Working Capital Loans
but no proceeds from the Trust Account would be used to repay the Working Capital Loans. Up to $1,150,000 of such Working Capital Loans
may be convertible into units at a price of $10.00 per unit at the option of the lender. Such units would be identical to the Private
Placement Units issued to our sponsor. The terms of Working Capital Loans by the Company&rsquo;s officers and directors, if any, have
not been determined and no written agreements exist with respect to such loans. As of June&nbsp;30, 2024 and December&nbsp;31, 2023, the
Company had no borrowings under the Working Capital Loans.</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"><B>Extension Loan</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-align: justify"> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company will have until 12 months from the closing of the Proposed Public Offering to consummate an initial Business Combination. However,
if the Company anticipates that it may not be able to consummate the initial Business Combination within 12 months, it may extend the
period of time to consummate a Business Combination up to two times, each by an additional three months (for a total of up to 18 months
to complete a Business Combination). Pursuant to the terms of the amended and restated memorandum and articles of association and the
trust agreement to be entered into between the Company and </FONT>Continental Stock Transfer&nbsp;&amp; Trust Company on the date of
the Proposed Public offering, in order to extend the time available for the Company to consummate the initial Business Combination, the
Sponsor or its affiliates or designees, upon two days advance notice prior to the applicable deadline, must deposit into the Trust Account
$550,000, or up to $632,500 if the underwriters&rsquo; over-allotment option is exercised in full ($0.10 per share in either case) on
or prior to the date of the applicable deadline, for each three month extension (or up to an aggregate of $1,100,000 (or $1,265,000 if
the underwriters&rsquo; over-allotment option is exercised in full), or $0.20 per share if the Company extends for the full six months).
Any such payments would be made in the form of a loan (the &ldquo;Extension Loans&rdquo;). Any such loans will be non-interest bearing
and payable upon the consummation of the initial Business Combination. If the Company completes the initial Business Combination, it
would repay such loaned amounts out of the proceeds of the Trust Account released to the Company. If the Company does not complete a
Business Combination, the Company will not repay such loans. Furthermore, the letter agreement with the initial shareholder contains
a provision pursuant to which the Sponsor has agreed to waive its right to be repaid for such loans out of the funds held in the Trust
Account in the event that the Company does not complete a Business Combination. The Sponsor and its affiliates or designees are not obligated
to fund the Trust Account to extend the time for the Company to complete the 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: 229; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B>Note 6&nbsp;&mdash; Commitments and Contingencies</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-align: justify"><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-align: justify">The holders of the Founder Shares, Private Placement
Units, shares being issued to the underwriters of the Proposed Public Offering, and units that may be issued on conversion of Working
Capital Loans (and in each case holders of their component securities, as applicable) 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 Public Offering requiring the Company
to register such securities for resale (in the case of the Founder Shares, only after conversion to the Class&nbsp;A ordinary shares).
The holders of these securities are entitled to make up to three demands, excluding short form demands, that the Company registers such
securities. In addition, the holders have certain &ldquo;piggy-back&rdquo; registration rights with respect to registration statements
filed subsequent to the completion of the initial Business Combination and rights to require the Company to register for resale such securities
pursuant to Rule&nbsp;415 under the Securities Act. However, the registration rights agreement provides that the Company will not permit
any registration statement filed under the Securities Act to become effective until termination of the applicable Lock-up period. Notwithstanding
the above, the shares to be issued to the underwriters in the Proposed Public offering will be further subject to the limitations on registration
requirements imposed by FINRA Rule&nbsp;5110(g)(8). 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 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Right of First Refusal</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-align: justify">For a period beginning on the closing of the Proposed
Public Offering and ending 12&nbsp;months from the closing of a Business Combination, the Company has granted the underwriter a right
of first refusal to act as sole underwriter , sole book-running manager and sole placement agent for any and all future private or public
equity, equity-linked, convertible and debt offerings during such 12 months from the closing of a Business Combination of the Company,
or any successor to or any subsidiary of the Company. For the sake of clarity, this right of refusal shall encompass the time period leading
up to the closing of the Business Combination while the Company is still a special purpose acquisition company. Notwithstanding the foregoing,
in the event that a target company &ndash; in connection with a Business Combination &ndash; sources a private placement of public equity
(a &ldquo;PIPE&rdquo;), the aforementioned right of refusal reference shall not apply in such a limited instance. In accordance with FINRA
Rule&nbsp;5110(g)(6)(A), such right of first refusal shall not have a duration of more than three years from the commencement of sales
in the Proposed Public 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; text-align: justify"><B>Underwriter Agreement</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-align: justify">The underwriters have a 45-day&nbsp;option from
the date of the Proposed Public Offering to purchase up to an additional 825,000 Units to cover over-allotments, if any.</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">The underwriters will be entitled to a cash underwriting
discount of one percent (1%) of the gross proceeds of the Proposed Public Offering, or $550,000 (or up to $632,500 if the underwriters&rsquo;
over-allotment is exercised in full). Additionally, the underwriters will be entitled to four and one-half percent (4.5%) of gross proceeds
of the Proposed Public Offering of the Company&rsquo;s Class&nbsp;A ordinary shares that will be registered in the Proposed Public Offering
and will be paid at the closing of the Proposed Public Offering (the &ldquo;Representative Shares&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; text-align: justify"><B>Representative Shares</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-align: justify">The Company has agreed to issue to the underwriter
247,500 ordinary shares (or 284,625 shares if the underwriter&rsquo;s over-allotment option is exercised in full) upon the consummation
of the Proposed Public Offering. These shares are being registered in the registration statement of which the Proposed Public Offering
forms a part. The underwriter has agreed not to transfer, assign or sell any such shares until the completion of the initial Business
Combination. In addition, the underwriter has agreed (and its permitted transferees will agree) (i)&nbsp;to waive its redemption rights
with respect to such shares in connection with the completion of the Company&rsquo;s initial Business Combination and (ii)&nbsp;to waive
its rights to liquidating distributions from the Trust Account with respect to such shares if the Company fails to complete its initial
Business Combination within the Combination 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; text-align: justify">The shares have been deemed compensation by FINRA
and are therefore subject to a lock-up for a period of 180 days immediately following the date of the commencement of sales in the Proposed
Public Offering pursuant to FINRA Rule&nbsp;5110(e)(1). Pursuant to FINRA Rule&nbsp;5110(e)(1), these securities will not be the subject
of any hedging, short sale, derivative, put or call transaction that would result in the economic disposition of the securities by any
person for a period of 180 days immediately following the effective date of the registration statement of which the Proposed Public Offering
forms a part, nor may they be sold, transferred, assigned, pledged or hypothecated for a period of 180 days immediately following the
effective date of the registration statement of which the Proposed Public Offering forms a part except to any underwriter and selected
dealer participating in the Proposed Public Offering and their officers, partners, registered persons or affiliates.</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: 230; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
7</B></FONT>&nbsp;<B>&mdash; Shareholder&rsquo;s Equity</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-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Preferred
Shares</I></B></FONT>&nbsp;&mdash; The Company is authorized to issue a total of 1,000,000 preferred shares with no par value. As of June&nbsp;30,
2024 and December&nbsp;31, 2023, there were no shares of preferred shares issued or outstanding.</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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Class&nbsp;A
Ordinary Shares&nbsp;</I></B></FONT>&mdash; The Company is authorized to issue a total of 100,000,000 Class&nbsp;A ordinary shares with
no par value. As of June&nbsp;30, 2024 and December&nbsp;31, 2023, there were no shares of Class&nbsp;A ordinary shares issued or outstanding.</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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Class&nbsp;B
Ordinary Shares</I></B></FONT>&nbsp;&mdash; The Company is authorized to issue a total of 10,000,000 Class&nbsp;B ordinary shares with
no par value. On July&nbsp;23, 2024, the Company issued 1,581,250 Founder Shares to the Sponsor for $25,000, and immediately repurchased
the 1,437,500 initial shares from the Sponsor for $25,000. The Class&nbsp;B ordinary shares have been retroactively restated to reflect
a share subscription and purchase agreement. As of June&nbsp;30, 2024 and December&nbsp;31, 2023, the Company issued 1,581,250 Class&nbsp;B
ordinary shares to its initial shareholder for $25,000, or approximately $0.016 per share, including an aggregate of up to 206,250&nbsp;shares
subject to forfeiture if the over-allotment&nbsp;option is not exercised by the underwriters in full.</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">The Class&nbsp;B ordinary shares will automatically
convert into Class&nbsp;A ordinary shares at the time of the initial Business Combination, or earlier at the option of the holder, on
a one-for-one basis, subject to adjustment pursuant to certain anti-dilution right, share splits, share capitalizations, reorganizations,
recapitalizations and the like, and subject to further adjustment as provided herein and in the Company&rsquo;s amended and restated memorandum
and articles of association. In the case that additional Class&nbsp;A ordinary shares, or equity-linked securities, are issued or deemed
issued in excess of the amounts sold in the Proposed Public Offering and related to the closing of the initial Business Combination, the
ratio at which the Class&nbsp;B ordinary shares shall convert into Class&nbsp;A ordinary shares will be adjusted (unless the holders of
a majority of the issued and outstanding Class&nbsp;B ordinary shares agree to waive such anti-dilution adjustment with respect to any
such issuance or deemed issuance) so that the number of Class&nbsp;A ordinary shares issuable upon conversion of all Class&nbsp;B ordinary
shares will equal, in the aggregate, 20% of the sum of all ordinary shares issued and outstanding upon completion of the Proposed Public
Offering, including pursuant to the Over-Allotment Option, plus all Class&nbsp;A ordinary shares issued or deemed issued, or issuable
upon the conversion or exercise of any equity-linked securities issued or deemed issued in connection with or in relation to the initial
Business Combination, excluding any shares or equity-linked securities issued, or to be issued, to any seller in the initial Business
Combination or any private placement-equivalent securities issued to the Sponsor or its affiliates upon conversion of loans made to the
Company.</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">Prior to the initial Business Combination, only
holders of the Founder Shares will have the right to vote on the election of directors. Holders of the public shares will not be entitled
to vote on the election of directors during such time. These provisions of the Company&rsquo;s amended and restated memorandum and articles
of association may only be amended by a resolution passed by holders of at least a majority of the ordinary shares who are eligible to
vote and attend and vote in a general meeting of the shareholders. With respect to any other matter submitted to a vote of the shareholders,
including any vote in connection with the initial Business Combination, except as required by law, holders of the Founder Shares and holders
of the public shares will vote together as a single class, with each share entitling the holder to one vote.</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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Rights&nbsp;</I></B></FONT>&mdash;
Each holder of a right will receive one-fourth (1/4) of one Class&nbsp;A ordinary share upon consummation of the initial Business Combination,
even if the holder of such right redeemed all Class&nbsp;A ordinary shares held by it in connection with the initial Business Combination.
No additional consideration will be required to be paid by a holder of rights in order to receive its additional shares upon consummation
of an initial Business Combination, as the consideration related thereto has been included in the unit purchase price paid for by investors
in the Proposed Public Offering. If the Company enters into a definitive agreement for a Business Combination in which the Company will
not be the surviving entity, the definitive agreement will provide for the holders of rights to receive the same per share consideration
the holders of the Class&nbsp;A ordinary shares will receive in the transaction on an as-converted into Class&nbsp;A ordinary share basis,
and each holder of a right will be required to affirmatively convert its rights in order to receive the 1/4 share underlying each right
(without paying any additional consideration) upon consummation of the Business Combination. More specifically, the right holder will
be required to indicate its election to convert the rights into underlying shares as well as to return the original rights certificates
to the Company.</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">If the Company is unable to complete an initial
Business Combination within the required time period and the Company liquidates the funds held in the Trust Account, holders of rights
will not receive any such funds with respect to their rights, nor will they receive any distribution from the Company&rsquo;s assets held
outside of the Trust Account with respect to such rights, and the rights 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; text-align: justify">As soon as practicable upon the consummation of
the initial Business Combination, the Company will direct registered holders of the rights to return their rights to the rights agent.
Upon receipt of the rights, the rights agent will issue to the registered holder of such rights the number of full Class&nbsp;A ordinary
shares to which it is entitled. The Company will notify registered holders of the rights to deliver their rights to the rights agent promptly
upon consummation of such Business Combination and have been informed by the rights agent that the process of exchanging their rights
for Class&nbsp;A ordinary shares should take no more than a matter of days. The foregoing exchange of rights is solely ministerial in
nature and is not intended to provide the Company with any means of avoiding the Company&rsquo;s obligation to issue the shares underlying
the rights upon consummation of the initial Business Combination. Other than confirming that the rights delivered by a registered holder
are valid, the Company will have no ability to avoid delivery of the shares underlying the rights. Nevertheless, there are no contractual
penalties for failure to deliver securities to the holders of the rights upon consummation of 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; text-align: justify">The shares issuable upon conversion of the rights
will be freely tradable (except to the extent held by affiliates of the Company&rsquo;s). The Company will not issue fractional shares
upon conversion of the rights. Fractional shares will either be rounded down to the nearest whole share or otherwise addressed in accordance
with the applicable provisions of British Virgin Island&rsquo;s law. As a result, you must hold rights in multiples of 4 in order to receive
shares for all of the investors&rsquo; rights upon closing of a Business Combination. If the Company is unable to complete an initial
Business Combination within the required time period and the Company liquidates the funds held in the Trust Account, holders of rights
will not receive any of such funds with respect to their rights, nor will they receive any distribution from the Company&rsquo;s assets
held outside of the Trust Account with respect to such rights, and the rights will expire worthless. Further, there are no contractual
penalties for failure to deliver securities to the holders of the rights upon consummation of an initial Business Combination. Accordingly,
the rights may 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; text-align: justify"><B>Note 8&nbsp;&mdash; Subsequent Events</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-align: justify">The Company evaluated subsequent events and transactions
that occurred after the balance sheet date up to the date that the unaudited condensed financial statements were available to be issued.
Based upon this review, the Company identified the following subsequent events that would have required disclosure in the unaudited condensed
financial statements.</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">On July&nbsp;23, 2024, the Company issued 1,581,250
Founder Shares to the Sponsor for $25,000, and immediately repurchased the 1,437,500 initial shares from the Sponsor for $25,000, resulting
in 1,581,250 Founder Shares outstanding after the repurchase, of which an aggregate of up to 206,250 shares are subject to forfeiture
if the over-allotment option is not exercised in full or in part by the underwriter.</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: 231; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="tm2420226d1_drsasp10img001.jpg" ALT="" STYLE="height: 126px; width: 800px">&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-top: 0pt; margin-bottom: 0pt; text-align: center"><B><A NAME="sp10_006"></A>REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM</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">To:&#8239;&#8239;The Board of Directors and Shareholder
of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">A SPAC III Acquisition Corp.</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"><B>Opinion on the Financial Statements</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-align: justify">We have audited the accompanying balance sheets
of A SPAC III Acquisition Corp. (the &ldquo;Company&rdquo;) as of December&nbsp;31, 2023 and 2022, and the related statements of operations,
changes in shareholder&rsquo;s deficit, and cash flows for each of the years in the two-year period ended December&nbsp;31, 2023, 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 December&nbsp;31, 2023 and 2022, and the results of its
operations and its cash flows for each of the years in the two-year period ended December&nbsp;31, 2023, 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 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Substantial Doubt about the Company&rsquo;s
Ability to Continue as a Going Concern</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying financial statements have
been prepared assuming that the Company will continue as a going concern. As discussed in Note 1 to the financial statements, the
Company has incurred losses and has an accumulated deficit which raise substantial doubt about its ability to continue as a going
concern. Management&rsquo;s plan in regard to these matters is described in Note 1  of the financial statements. These financial
statements do not include any adjustments that might result from the outcome of this uncertainty.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Basis for Opinion</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-align: justify">These financial statements are the responsibility
of the Company&rsquo;s management. Our responsibility is to express an opinion on the Company&rsquo;s financial statements based on our
audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are
required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules&nbsp;and
regulations of the Securities and Exchange Commission and the PCAOB.</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">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 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our audit included performing procedures to assess
the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond
to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating
the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">PCAOB ID No.&nbsp;1171</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">We have served as the Company&rsquo;s auditor
since 2024.</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">San Mateo, California</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">July&nbsp;29, 2024</P>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="tm2420226d1_drsasp10img002.jpg" ALT="" STYLE="height: 64px; width: 849px">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></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: center; text-indent: 261.75pt"></P>

<!-- Field: Page; Sequence: 232; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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; text-indent: 261.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B>A SPAC III ACQUISITION
CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B><A NAME="sp10_007"></A>BALANCE SHEETS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><B>AS OF DECEMBER 31,
2023 AND 2022</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">As of<BR>
December&nbsp;31,<BR>
 2023</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>As
                                            of</B><BR>
                                            <B>December&nbsp;31,&#8239;</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2022</B></P></TD><TD STYLE="font: 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><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">Total Assets</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">&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-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: bold 10pt Times New Roman, Times, Serif; text-align: left">LIABILITIES AND SHAREHOLDER&rsquo;S 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: 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><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: 74%; text-align: left">Accrued expenses</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">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">14,925</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">17,575</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">Promissory note - related party</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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">125,651</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="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">120,351</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">Total current liabilities</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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">140,576</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="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">137,926</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: bold 10pt Times New Roman, Times, Serif; text-align: left">Total Liabilities</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">140,576</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">137,926</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: bold 10pt Times New Roman, Times, Serif; text-align: left">Commitments and Contingencies</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><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-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: bold 10pt Times New Roman, Times, Serif; text-align: left">Shareholder&rsquo;s 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: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Preferred shares, no par value; 1,000,000 shares authorized; none issued and outstanding as of December&nbsp;31, 2023 and 2022</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&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">Class&nbsp;A ordinary shares, no par value; 100,000,000 shares authorized; none issued and outstanding as of December&nbsp;31, 2023 and 2022</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><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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class&nbsp;B ordinary shares, no par value; 10,000,000 shares authorized; 1,581,250&nbsp;&nbsp;shares issued and outstanding as of December&nbsp;31, 2023 and 2022 <SUP>(1)(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">&mdash;</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">&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">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">25,000</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">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">Accumulated deficit</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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">(165,576</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="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">(162,926</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: bold 10pt Times New Roman, Times, Serif; text-align: left">Total Shareholder&rsquo;s Deficit</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(140,576</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(137,926</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-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: bold 10pt Times New Roman, Times, Serif; text-align: left">Total Liabilities and Shareholder&rsquo;s Deficit</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</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; background-color: white">&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">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes up to </FONT>206,250 Class&nbsp;B ordinary shares
subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriters (see Note 5).</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD>(2)</TD><TD STYLE="text-align: justify">Shares have been retroactively restated to reflect a share subscription and purchase agreement. On September&nbsp;3, 2021, 1,437,500
Class&nbsp;B ordinary shares were issued to the Sponsor for $25,000. On July&nbsp;23, 2024, the Company issued 1,581,250 Class&nbsp;B
ordinary shares to the Sponsor for $25,000, and immediately repurchased the 1,437,500 initial shares from the Sponsor for $25,000, resulting
in 1,581,250 Class&nbsp;B ordinary shares outstanding after the repurchase (of which an aggregate of up to 206,250 shares are subject
to forfeiture if the over-allotment option is not exercised in full or in part by the underwriter) (See Note 5).</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; text-align: center; background-color: white">The accompanying notes
are an integral part of the financial statements.</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: 233; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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 SPAC III ACQUISITION CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="sp10_008"></A>STATEMENTS OF OPERATIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2023 AND&nbsp;2022</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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="vertical-align: bottom; font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">For the year ended<BR> December&nbsp;31, 2023</TD><TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD><TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">For the year ended<BR> December&nbsp;31, 2022</TD><TD STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 64%; text-align: left">General administrative expenses</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 15%; text-align: right">(2,650</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 15%; text-align: right">(102,729</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Loss before tax expense</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">$</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">(2,650</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">(102,729</TD><TD STYLE="font: bold 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">Tax expense</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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; 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 loss</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(2,650</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(102,729</TD><TD STYLE="font: bold 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: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Weighted average shares outstanding, basic and diluted <SUP>(1)(2)</SUP></B></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&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">1,375,000</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="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">1,375,000</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Basic and diluted net loss per ordinary share</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(0.00</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(0.07</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Excludes up to </FONT>206,250 Class&nbsp;B ordinary shares
subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriters (see Note 8).</TD></TR>
<TR STYLE="vertical-align: top">
<TD></TD><TD>(2)</TD><TD STYLE="text-align: justify">Shares have been retroactively restated to reflect a share subscription and purchase agreement. On September&nbsp;3, 2021, 1,437,500
Class&nbsp;B ordinary shares were issued to the Sponsor for $25,000. On July&nbsp;23, 2024, the Company issued 1,581,250 Class&nbsp;B
ordinary shares to the Sponsor for $25,000, and immediately repurchased the 1,437,500 initial shares from the Sponsor for $25,000, resulting
in 1,581,250 Class&nbsp;B ordinary shares outstanding after the repurchase (of which an aggregate of up to 206,250 shares are subject
to forfeiture if the over-allotment option is not exercised in full or in part by the underwriter) (See Note 5).</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; 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 0">&nbsp;</P>

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

<!-- Field: Page; Sequence: 234; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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-top: 0pt; margin-bottom: 0pt; text-align: center"><B>A SPAC III ACQUISITION
CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><A NAME="sp10_009"></A>STATEMENTS OF CHANGES IN SHAREHOLDER&rsquo;S DEFICIT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2023 AND&nbsp;2022</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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="vertical-align: bottom; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-align: center"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Class&nbsp;B</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ordinary shares</B></P></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">Additional <BR> paid-in</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">Accumulated</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">Total <BR> shareholder&rsquo;s</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Shares <SUP>(1)&nbsp;(2)</SUP></B></FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Amount</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-align: center">capital</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-align: center">deficit</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; font: bold 10pt Times New Roman, Times, Serif; text-align: center">deficit</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; vertical-align: bottom">&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; width: 35%">Balance as of January&nbsp;1, 2022</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">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">1,581,250</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</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">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">&mdash;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</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><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">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">(60,197</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">(35,197</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; 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">Net loss</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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">(102,729</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="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">(102,729</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">Balance as of December&nbsp;31, 2022</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">1,581,250</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">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">25,000</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">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(162,926</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(137,926</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">Net loss</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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">(2,650</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="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">(2,650</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: bold 10pt Times New Roman, Times, Serif; text-align: left">Balance as of December&nbsp;31, 2023</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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">1,581,250</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="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">25,000</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="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">(165,576</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">(140,576</TD><TD STYLE="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-align: center">&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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Includes up to </FONT>206,250 Class&nbsp;B ordinary shares
subject to forfeiture if the over-allotment option is not exercised in full or in part by the underwriters (see Note 5).</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD STYLE="text-align: justify">Shares have been retroactively restated to reflect a share subscription and purchase agreement. On September&nbsp;3, 2021, 1,437,500
Class&nbsp;B ordinary shares were issued to the Sponsor for $25,000. On July&nbsp;23, 2024, the Company issued 1,581,250 Class&nbsp;B
ordinary shares to the Sponsor for $25,000, and immediately repurchased the 1,437,500 initial shares from the Sponsor for $25,000, resulting
in 1,581,250 Class&nbsp;B ordinary shares outstanding after the repurchase (of which an aggregate of up to 206,250 shares are subject
to forfeiture if the over-allotment option is not exercised in full or in part by the underwriter) (See Note 5).</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-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 0">&nbsp;</P>

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

<!-- Field: Page; Sequence: 235; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>A
SPAC III ACQUISITION CORP.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>STATEMENT</B></FONT><B><A NAME="sp10_010"></A>S OF CASH FLOWS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2023 AND&nbsp;2022</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">For the years ended<BR> December&nbsp;31,</TD><TD STYLE="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">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2023</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2022</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; 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><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: 74%; text-align: left">Net loss</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">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">(2,650</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">(102,729</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; 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">Adjustments to reconcile net loss to net cash used in 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><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">Changes in operating assets and 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><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">Other current 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">&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><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">100,079</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">Accrued offering costs</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><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">(24,999</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">Accrued 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">(2,650</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">15,335</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">Promissory note - related party</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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">5,300</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="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">12,314</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: bold 10pt Times New Roman, Times, Serif; text-align: left">Net cash used in operating activities</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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; 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: bold 10pt Times New Roman, Times, Serif; text-align: left">Net change in cash and cash equivalents</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><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">Cash and cash equivalents at the beginning of the year</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&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; 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 and cash equivalents at the end of the year</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">&mdash;</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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The accompanying notes are an integral part of
the financial statements.</P>

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

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

<!-- Field: Page; Sequence: 236; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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 SPAC III ACQUISITION CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><A NAME="sp10_011"></A>NOTES TO FINANCIAL STATEMENTS</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-align: justify"><B>Note 1&nbsp;&mdash; Organization and Business
Operations</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-align: justify">A SPAC III Acquisition Corp. (the &ldquo;Company&rdquo;)
is blank check company incorporated as a British Virgin Island business company on September&nbsp;3, 2021. The Company was incorporated
for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar Business Combination
with one or more businesses (the &ldquo;Business Combination&rdquo;). The Company has not selected any potential Business Combination
target and the Company has not, nor has anyone on its behalf, initiated any substantive discussions, directly or indirectly, with any
potential Business Combination target.</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">As of December&nbsp;31, 2023, the Company had
not commenced any operations. All activity for the period from September&nbsp;3, 2021 (inception) through December&nbsp;31, 2023 relates
to the Company&rsquo;s formation and the Proposed Public Offering (as defined below). The Company will not generate any operating revenues
until after the completion of its initial Business Combination, at the earliest. The Company will generate non-operating&nbsp;income in
the form of interest income on cash and cash equivalents from the proceeds derived from the Proposed Public Offering (as defined below).
The Company has selected December&nbsp;31 as its fiscal year end.</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">The Company&rsquo;s Sponsor is A SPAC III (Holdings)
Corp., a British Virgin Islands company (the &ldquo;Sponsor&rdquo;). The Company&rsquo;s ability to commence operations is contingent
upon obtaining adequate financial resources through a Proposed Public Offering of 5,500,000 units at $10.00 per unit (the &ldquo;Units&rdquo;)
(or 6,325,000 Units if the underwriters&rsquo; over-allotment option is exercised in full), which is discussed in Note 3 (the &ldquo;Proposed
Public Offering&rdquo;), and the sale of 280,000 units (the &ldquo;Private Placement Units&rdquo;) (or 288,250 units if the over-allotment
option is exercised in full) at a price of $10.00 per unit for an aggregate purchase price of $2,800,000 (or $2,882,500 if the over-allotment
option is exercised in full) to the Sponsor, at a price of $10.00 per Units in a private placement that will close simultaneously with
the Proposed Public Offering. Each Unit consists of one Class&nbsp;A ordinary share and one right to receive one-fourth of one Class&nbsp;A
ordinary share upon the completion of the initial Business Combination. Each Private Placement Unit will be identical to the units sold
in the Proposed Public offering, except as described in Note 4. The Company&rsquo;s management has broad discretion with respect to the
specific application of the net proceeds of the Proposed Public Offering and the Private Placement Units, although substantially all of
the net proceeds are intended to be generally applied toward consummating a Business Combination (less any taxes payable on interest earned
and less any interest earned thereon that is released to the Company for taxes).</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">The initial Business Combination must be with
one or more target businesses or assets having an aggregate fair market value of at least 80% of the value of the Trust Account (defined
below) (less any taxes payable on interest earned and less any interest earned thereon that is released to the Company for taxes) at the
time of signing a definitive agreement in connection with the initial Business Combination. However, 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.</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">Upon the closing of the Proposed Public Offering,
management has agreed that an aggregate of $10.00 per Unit sold in the Proposed Public Offering will be held in a Trust Account (&ldquo;Trust
Account&rdquo;) and will be invested only in U.S. government treasury bills with a maturity of 180 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. Except with respect to interest earned on the funds held in the Trust Account that may be released to the Company to pay
its taxes, if any, the proceeds from the Proposed Public Offering and the private placement will not be released from the Trust Account
until the earliest of (i)&nbsp;the completion of the initial Business Combination, (ii)&nbsp;the redemption of any public shares properly
tendered in connection with a shareholder vote to amend the Company&rsquo;s amended and restated memorandum and articles of association
to (A)&nbsp;modify the substance or timing of the Company&rsquo;s obligation to redeem 100% of the public shares if the Company does not
complete the initial Business Combination within the Combination Period (defined below) or (B)&nbsp;with respect to any other provision
relating to shareholders&rsquo; rights or pre-Business Combination activity and (iii)&nbsp;the redemption of all of the public shares
if the Company is unable to complete the initial Business Combination within the Combination Period (defined below), subject to applicable
law. The proceeds deposited in the Trust Account could become subject to the claims of the creditors, if any, which could have priority
over the claims of the public shareholders.</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">The Company will provide the public shareholders
with the opportunity to redeem all or a portion of their public shares upon the completion of the initial Business Combination either
(i)&nbsp;in connection with a shareholder meeting called to approve the Business Combination or (ii)&nbsp;by means of a tender offer.
The decision as to whether the Company will seek shareholder approval of a proposed Business Combination or conduct a tender offer will
be made by the Company, solely in its 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 the Company to seek shareholder approval under the law or stock exchange listing requirement.
The Company will provide the public shareholders with the opportunity to redeem all or a portion of their public shares upon the completion
of the 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 (which interest shall
be net of taxes payable) 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 (subject to increase of up to an additional $0.20 per unit
in the event that the Sponsor elects to extend the period of time to consummate a Business Combination, as described in more detail in
the Proposed Public offering).</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: 237; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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>

<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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&nbsp;will account for its Class&nbsp;A ordinary shares subject to possible redemption in accordance with the guidance in ASC Topic
480, &ldquo;Distinguishing Liabilities from Equity&rdquo; (ASC 480). Ordinary shares subject to mandatory redemption (if any) will be
classified as a liability instrument and will be measured at fair value. Conditionally redeemable ordinary shares (including ordinary
shares that features redemption rights that are either within the control of the holder or subject to redemption upon the occurrence of
uncertain events not solely within the Company&rsquo;s control) will be classified as temporary equity. At all other times, ordinary shares
will be classified as s</FONT>hareholder&rsquo;s equity. In accordance with ASC 480-10-S99, the Company will classify Class&nbsp;A ordinary
shares subject to redemption outside of permanent equity as the redemption provisions are not solely within the control of the Company.
Given that the 5,000,000 Class&nbsp;A ordinary shares sold as part of the units in the offering will be issued with other freestanding
instruments (i.e., rights), the initial carrying value of Class&nbsp;A ordinary shares classified as temporary equity will be the allocated
proceeds determined in accordance with ASC 470-20. If it is probable that the equity instrument will become redeemable, the Company has
the option to either (i)&nbsp;accrete changes in the redemption value over the period from the date of issuance (or from the date that
it becomes probable that the instrument will become redeemable, if later) to the earliest redemption date of the instrument or (ii)&nbsp;recognize
changes in the redemption value immediately as they occur and adjust the carrying amount of the instrument to equal the redemption value
at the end of each reporting period. The Company has elected to recognize the changes in redemption value as a charge against retained
earnings or, in the absence of retained earnings, as a charge against additional paid-in-capital over an expected 12-month period leading
up to a 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; text-align: justify"> The Company will have only 12 months from
the closing of the Proposed Public Offering (or up to 18 months from the closing of the Proposed Public Offering if the Company extend
the period of time to consummate a Business Combination by 2 extensions of 3 months) (the &ldquo;Combination Period&rdquo;) to complete
the initial Business Combination. If the Company has not completed the initial Business Combination within the Combination Period, the
Company 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 (which interest shall be net of taxes payable, and less up to $200,000 of interest
to pay dissolution expenses) divided by the number of then outstanding public shares, which redemption will completely extinguish public
shareholders&rsquo; rights as shareholders (including the right to receive further liquidation distributions, if any), subject to applicable
law, and (iii)&nbsp;as promptly as reasonably possible following such redemption, subject to the approval of the Company&rsquo;s remaining
shareholders and the Board of Directors, liquidate and dissolve, subject in each case to the Company&rsquo;s obligations under British
Virgin Islands law to provide for claims of creditors and the requirements of other applicable law. </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"> The underwriters, the Sponsor, officers and
directors have agreed to (i)&nbsp;to waive their redemption rights with respect to their Founder Shares (as defined in Note 6), Representative&rsquo;s
Shares (as defined in Note 7) and public shares in connection with the completion of the initial Business Combination and (ii)&nbsp;to
waive their rights to liquidating distributions from the Trust Account with respect to their Founder Shares if the Company fails to complete
the initial Business Combination within the Combination Period (although they will be entitled to liquidating distributions from the
Trust Account with respect to any public shares they hold if the Company fails to complete the initial Business Combination within the
Combination Period). If the Company submits the initial Business Combination to the public shareholders for a vote, the underwriters,
the Sponsor, officers and directors have agreed (and their permitted transferees will agree), pursuant to the terms of a letter agreement
entered into with the Company, to vote any Founder Shares, Private Placement Shares, and Representative&rsquo;s Shares held by them and any public shares purchased during or after the Proposed Public offering in favor of the 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; text-align: justify">The Company&rsquo;s Sponsor has agreed that it
will be liable to the Company if and to the extent any claims by a vendor for services rendered or products sold to the Company, or a
prospective target business with which the Company has discussed entering into a transaction agreement, reduce the amount of funds in
the Trust Account to below (i)&nbsp;$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 the value of the trust assets, in each case net of the interest
which may be withdrawn to pay taxes, except as to any claims by a third party who executed a waiver of any and all rights to seek access
to the Trust Account and except as to any claims under the Company&rsquo;s indemnity of the underwriters of the Proposed Public Offering
against certain liabilities, including liabilities under the Securities Act. Moreover, in the event that an executed waiver is deemed
to be unenforceable against a third party, the Sponsor will not be responsible to the extent of any liability for such third -party claims.
The Company has not independently verified whether the Sponsor has sufficient funds to satisfy their indemnity obligations and believes
that the Sponsor&rsquo;s only assets are securities of the Company. The Company has not asked the Sponsor to reserve for such obligations.</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"><B>Going Concern Consideration</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-align: justify">As of December&nbsp;31, 2023, the Company had
no cash and a working capital deficit of $140,576. The Sponsor has agreed to loan the Company up to $350,000 to be used for a portion
of the expenses of the Proposed Public Offering. The loan is non-interest&nbsp;bearing, unsecured and shall be payable promptly after
the date on which the Company consummates an initial public offering of its securities or the date on which the Company determines not
to conduct an initial public offering of its securities. These loans will be repaid upon the closing of the Proposed Public Offering out
of the offering proceeds not held in the Trust Account. As of December&nbsp;31, 2023 and 2022, the Company had borrowed $125,651 and $120,351
under the promissory note, respectively.</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">The Company has incurred and expects to continue
to incur significant costs in pursuit of its financing and acquisition plans. These conditions raise substantial doubt about the Company&rsquo;s
ability to continue as a going concern. Management plans to address this uncertainty through a Proposed Public Offering as discussed in
Note&nbsp;3. There is no assurance that the Company&rsquo;s plans to raise capital or to consummate a Business Combination will be successful
within the Combination Period. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.</P>

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

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

<!-- Field: Page; Sequence: 238; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B>Risks and Uncertainties</B></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In February&nbsp;2022, an armed conflict escalated between Russia and
Ukraine. The sanctions announced by the United States and other countries against Russia and Belarus following Russia&rsquo;s invasion
of Ukraine to date include restrictions on selling or importing goods, services, or technology in or from affected regions and travel
bans and asset freezes impacting connected individuals and political, military, business, and financial organizations in Russia and Belarus.
The United States and other countries could impose wider sanctions and take other actions should the conflict further escalate. Separately,
in October&nbsp;2023,&nbsp;Israel and certain Iranian-backed Palestinian forces began an armed conflict in Israel, the Gaza Strip, and
surrounding areas, which threatens to spread to other Middle Eastern countries including Lebanon and Iran.</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As a result of the ongoing Russia/Ukraine, Hamas/Israel conflicts and/or
other future global conflicts, the Company&rsquo;s ability to consummate a Business Combination, or the operations of a target business
with which the Company ultimately consummates a Business Combination, may be materially and adversely affected. In addition, the Company&rsquo;s
ability to consummate a transaction may be dependent on the ability to raise equity and debt financing which may be impacted by these
events, including as a result of increased market volatility, or decreased market liquidity in third-party financing being unavailable
on terms acceptable to the Company or at all. The impact of this action and potential future sanctions on the world economy and the specific
impact on the Company&rsquo;s financial position, results of operations or ability to consummate a Business Combination are not yet determinable.
The financial statements do not include any adjustments that might result from the outcome of this uncertainty.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Note&nbsp;2&nbsp;&mdash; Basis of Presentation
and Summary of Significant Accounting Policies</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-align: justify"><B>Basis of Presentation</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-align: justify">The accompanying financial statements are presented
in conformity with accounting principles generally accepted in the United&nbsp;States of America (&ldquo;US GAAP&rdquo;) and pursuant
to the rules&nbsp;and regulations of the U.S. Securities and Exchange Commission (the &ldquo;SEC&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; text-align: justify"><B>Emerging Growth Company Status</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-align: justify">The Company is an &ldquo;emerging growth company,&rdquo;
as defined in Section&nbsp;2(a)&nbsp;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 auditor attestation requirements
of Section&nbsp;404 of the Sarbanes-Oxley&nbsp;Act, reduced disclosure obligations regarding executive compensation in its periodic reports
and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder
approval of any golden parachute payments not previously approved.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Further, Section&nbsp;102(b)(1)&nbsp;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&nbsp;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 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Use of Estimates</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-align: justify">The preparation of financial statements in conformity
with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure
of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting
period. Actual results could differ from those estimates.</P>

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

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

<!-- Field: Page; Sequence: 239; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B>Cash and Cash Equivalents</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-align: justify">The Company considers all short-term&nbsp;investments
with an original maturity of three months or less when purchased to be cash equivalents. The Company did not have any cash or cash equivalents
as of December&nbsp;31, 2023 and 2022.</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"><B>Deferred Offering Costs</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-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deferred
offering costs consist of legal and other professional expenses incurred through the balance sheet date that are directly related to the
Proposed Public Offering. Offering costs are allocated to the separable financial instruments issued in the initial public offering based
on a relative fair value basis compared to total proceeds received. Should the Proposed Public Offering prove to be unsuccessful, these
deferred costs, as well as additional expenses to be incurred, will be charged to operations. </FONT><FONT STYLE="background-color: white">As
of December&nbsp;31, 2021, the Company expensed all deferred offering costs when management determined that the in-process equity financing
has been abandoned. In July&nbsp;2024, the Company </FONT>initiated its <FONT STYLE="background-color: white">plan for the </FONT>Proposed
Public Offering<FONT STYLE="background-color: white">. As</FONT> of December&nbsp;31, 2023 and 2022, the Company did not recorded deferred
offering costs.</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"><B>Fair Value of Financial Instruments</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-align: justify">The fair value of the Company&rsquo;s assets and
liabilities, which qualify as financial instruments under FASB ASC 820, &ldquo;Fair Value Measurements and Disclosures,&rdquo; approximates
the carrying amounts represented in the balance sheet, primarily due to its short-term nature.</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">The Company applies ASC 820, which establishes
a framework for measuring fair value and clarifies the definition of fair value within that framework. ASC 820 defines fair value as an
exit price, which is the price that would be received for an asset or paid to transfer a liability in the Company&rsquo;s principal or
most advantageous market in an orderly transaction between market participants on the measurement date. The fair value hierarchy established
in ASC 820 generally requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring
fair value. Observable inputs reflect the assumptions that market participants would use in pricing the asset or liability and are developed
based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the entity&rsquo;s own assumptions
based on market data and the entity&rsquo;s judgments about the assumptions that market participants would use in pricing the asset or
liability and are to be developed based on the best information available in the circumstances.</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">Level 1&mdash;Assets and liabilities with unadjusted,
quoted prices listed on active market exchanges. Inputs to the fair value measurement are observable inputs, such as quoted prices in
active markets for identical assets or liabilities.</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">Level 2&mdash;Inputs to the fair value measurement
are determined using prices for recently traded assets and liabilities with similar underlying terms, as well as direct or indirect observable
inputs, such as interest rates and yield curves that are observable at commonly quoted intervals.</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">Level 3&mdash;Inputs to the fair value measurement
are unobservable inputs, such as estimates, assumptions, and valuation techniques when little or no market data exists for the assets
or liabilities.</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"><B>Net Loss Per Ordinary Share</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-align: justify">Net loss per share is computed by dividing net
loss by the weighted average number of ordinary shares outstanding during the period, excluding ordinary shares subject to forfeiture.
Weighted average shares were reduced for the effect of an aggregate of 206,250 ordinary shares that are subject to forfeiture if the over-allotment&nbsp;option
is not exercised by the underwriters (see Notes 5). As of December&nbsp;31, 2023 and 2022, the Company did not have any dilutive securities
and other contracts that could, potentially, be exercised or converted into ordinary shares 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 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Income Taxes</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-align: justify">The Company follows the asset and liability method
of accounting for income taxes under FASB ASC 740, &ldquo;Income Taxes.&rdquo; Deferred tax assets and liabilities are recognized for
the estimated future tax consequences attributable to differences between the financial statements carrying amounts of existing assets
and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply
to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax
assets and liabilities of a change in tax rates is recognized in income in the period that is included in the enactment date. 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 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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&rsquo;s management determined that the British Virgin Islands is the Company&rsquo;s major tax jurisdiction.
The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. As of December&nbsp;31,
2023 and 2022, there were no unrecognized tax benefits and no amounts accrued for interest and penalties. The Company is currently not
aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company&rsquo;s
management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months.</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">The Company is considered to be a British Virgin
Islands business company with no connection to any other taxable jurisdiction and is presently not subject to income taxes or income tax
filing requirements in the British Virgin Islands or the United States. As such, the Company&rsquo;s tax provision was zero for the period
presented.</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: 240; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B>Recent Accounting Pronouncements</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-align: justify">In August&nbsp;2020, the FASB issued ASU 2020-06,
Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity&rsquo;s Own Equity (Subtopic
815-40): Accounting for Convertible Instruments and Contracts in an Entity&rsquo;s Own Equity (&ldquo;ASU 2020-06&rdquo;), which simplifies
accounting for convertible instruments by removing major separation models required under current GAAP. The ASU also removes certain settlement
conditions that are required for equity-linked contracts to qualify for scope exception, and it simplifies the diluted earnings per share
calculation in certain areas. ASU 2020-06 is effective January&nbsp;1, 2024 and should be applied on a full or modified retrospective
basis, with early adoption permitted beginning on January&nbsp;1, 2021. The Company has assessed the influence of the adoption of ASU
2020-06 and concluded that there&rsquo;s no impact on the Company&rsquo;s financial statements. The Company will adopt ASU 2020-06 beginning
January&nbsp;1, 2024.</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">The Company&rsquo;s management does not believe
that any other recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying
financial statements.</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>Note 3&nbsp;&mdash; Proposed Public Offering</B></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the Proposed Public Offering, the Company will offer for sale up
to 5,500,000 Units, (or 6,325,000 Units if the underwriters&rsquo; over-allotment option is exercised in full) at a purchase price of
$10.00 per Unit. Each Unit that the Company is offering has a price of $10.00 and consists of one Class&nbsp;A ordinary share with no
par value and one right. Each right entitles the holder to receive one-fourth (1/4) of one Class&nbsp;A ordinary share upon the consummation
of the Company&rsquo;s initial Business Combination. The Company will not issue fractional shares upon conversion of the rights, as disclosed
in Note 7.</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>Note 4&nbsp;&mdash; Private Placement</B></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company&rsquo;s Sponsor has committed to purchase an aggregate
of 280,000 units (or 288,250 units if the over-allotment option is exercised in full) at a price of $10.00 per unit for an aggregate purchase
price of $2,800,000 (or $2,882,500 if the over-allotment option is exercised in full). Each Private Placement Unit will be identical to
the units sold in the Proposed Public Offering, except as described below. The Private Placement Units will be sold in a private placement
that will close simultaneously with the closing of the Proposed Public Offering, including the over-allotment option, as applicable. There
will be no redemption rights or liquidating distributions from the Trust Account with respect to the Founder Shares, private placement
shares or private placement rights. The rights will expire worthless if the Company does not consummate a Business Combination within
the allotted 12-month period (or up to 18 months from the completion of the Proposed Public Offering if the Company extends the period
of time to consummate a Business Combination by two extensions of three months each).</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">The private placement units, private placement
shares, private placement rights and the Class&nbsp;A ordinary shares underlying such rights will not be transferable, assignable or salable
by the Sponsor until thirty (30) days after the completion of the Company&rsquo;s initial Business Combination, except to permitted transferees</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"><B>Note 5&nbsp;&mdash; Related Party Transactions</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-align: justify"><B>Founder Shares</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-align: justify">On September&nbsp;3, 2021, the Company&rsquo;s
Sponsor paid $25,000, or approximately $0.017 per share, to cover certain of the offering and formation costs in exchange for an aggregate
of 1,437,500 Class&nbsp;B ordinary shares (the &ldquo;Founder Shares&rdquo;) with no par value. Founder Shares have been retroactively
restated to reflect a share subscription and purchase agreement. On July&nbsp;23, 2024, the Company issued 1,581,250 Founder Shares to
the Sponsor for $25,000, and immediately repurchased the 1,437,500 initial shares from the Sponsor for $25,000, resulting in 1,581,250
Founder Shares outstanding after the repurchase, of which an aggregate of up to 206,250 shares are subject to forfeiture if the over-allotment
option is not exercised in full or in part by the underwriter.</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">The Sponsor has agreed not to transfer, assign
or sell any of its Founder Shares until the earlier to occur of: (A)&nbsp;six months after the completion of the initial Business Combination
or (B)&nbsp;the date on which the Company completes a liquidation, merger, share exchange, reorganization or other similar transaction
after the initial Business Combination that results in all of the Company&rsquo;s public shareholders having the right to exchange their
ordinary shares for cash, securities or other property (the &ldquo;Lock-up&rdquo;). Notwithstanding the foregoing, if the last sale price
of the Company&rsquo;s ordinary shares equals or exceeds $12.00 per share (as adjusted for share splits, share capitalizations, rights
issuances, subdivisions, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day after the
initial Business Combination, the Founder Shares will be released from the Lock-up.</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"><B>Promissory Note&nbsp;&mdash; Related Party</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-align: justify">The Sponsor has agreed to loan the Company up
to $350,000 to be used for a portion of the expenses of the Proposed Public Offering. The loan is non-interest&nbsp;bearing, unsecured
and shall be payable promptly after the date on which the Company consummates an initial public offering of its securities or the date
on which the Company determines not to conduct an initial public offering of its securities. These loans will be repaid upon the closing
of the Proposed Public Offering out of the offering proceeds not held in the Trust Account. As of December&nbsp;31, 2023 and 2022, the
Company had borrowed $125,651 and $120,351, respectively, under the promissory note.</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: 241; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B>Working Capital Loans</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-align: justify">In addition, in order to finance transaction costs
in connection with an intended Business Combination, the Sponsor or an affiliate of the Sponsor, or certain of the Company's officers
and directors may, but are not obligated to, loan the Company funds as may be required (&ldquo;Working Capital Loans&rdquo;). If the Company
completes the initial Business Combination, the Company may repay the Working Capital Loans. In the event that the initial Business Combination
does not close, the Company may use a portion of the working capital held outside the Trust Account to repay the Working Capital Loans
but no proceeds from the Trust Account would be used to repay the Working Capital Loans. Up to $1,150,000 of such Working Capital Loans
may be convertible into units at a price of $10.00 per unit at the option of the lender. Such units would be identical to the Private
Placement Units issued to our sponsor. The terms of Working Capital Loans by the Company&rsquo;s officers and directors, if any, have
not been determined and no written agreements exist with respect to such loans. As of December&nbsp;31, 2023 and 2022, the Company had
no borrowings under the Working Capital Loans.</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"><B>Extension Loan</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-align: justify"> The Company will have until 12 months from
the closing of the Proposed Public Offering to consummate an initial Business Combination. However, if the Company anticipates that it
may not be able to consummate the initial Business Combination within 12 months, it may extend the period of time to consummate a Business
Combination up to two times, each by an additional three months (for a total of up to 18 months to complete a Business Combination).
Pursuant to the terms of the amended and restated memorandum and articles of association and the trust agreement to be entered into between
the Company and Continental Stock Transfer&nbsp;&amp; Trust Company on the date of the Proposed Public offering, in order to extend the
time available for the Company to consummate the initial Business Combination, the Sponsor or its affiliates or designees, upon two days
advance notice prior to the applicable deadline, must deposit into the Trust Account $550,000, or up to $632,500 if the underwriters&rsquo;
over-allotment option is exercised in full ($0.10 per share in either case) on or prior to the date of the applicable deadline, for each
three month extension (or up to an aggregate of $1,100,000 (or $1,265,000 if the underwriters&rsquo; over-allotment option is exercised
in full), or $0.20 per share if the Company extends for the full six months). Any such payments would be made in the form of a loan (the
 &ldquo;Extension Loans&rdquo;). Any such loans will be non-interest bearing and payable upon the consummation of the initial Business
Combination. If the Company completes the initial Business Combination, it would repay such loaned amounts out of the proceeds of the
Trust Account released to the Company. If the Company does not complete a Business Combination, the Company will not repay such loans.
Furthermore, the letter agreement with the initial shareholder contains a provision pursuant to which the Sponsor has agreed to waive
its right to be repaid for such loans out of the funds held in the Trust Account in the event that the Company does not complete a Business
Combination. The Sponsor and its affiliates or designees are not obligated to fund the Trust Account to extend the time for the Company
to complete the 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; text-align: justify"><B>Note 6&nbsp;&mdash; Commitments and Contingencies</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-align: justify"><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-align: justify">The holders of the Founder Shares, Private Placement
Units, shares being issued to the underwriters of the Proposed Public Offering, and units that may be issued on conversion of Working
Capital Loans (and in each case holders of their component securities, as applicable) 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 Public Offering requiring the Company
to register such securities for resale (in the case of the Founder Shares, only after conversion to the Class&nbsp;A ordinary shares).
The holders of these securities are entitled to make up to three demands, excluding short form demands, that the Company registers such
securities. In addition, the holders have certain &ldquo;piggy-back&rdquo; registration rights with respect to registration statements
filed subsequent to the completion of the initial Business Combination and rights to require the Company to register for resale such securities
pursuant to Rule&nbsp;415 under the Securities Act. However, the registration rights agreement provides that the Company will not permit
any registration statement filed under the Securities Act to become effective until termination of the applicable Lock-up period. Notwithstanding
the above, the shares to be issued to the underwriters in the Proposed Public offering will be further subject to the limitations on registration
requirements imposed by FINRA Rule&nbsp;5110(g)(8). 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 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Right of First Refusal</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-align: justify">For a period beginning on the closing of the Proposed
Public Offering and ending 12&nbsp;months from the closing of a Business Combination, the Company has granted the underwriter a right
of first refusal to act as sole underwriter, sole book-running manager and sole placement agent for any and all future private or public
equity, equity-linked, convertible and debt offerings during such 12 months from the closing of a Business Combination of the Company,
or any successor to or any subsidiary of the Company. For the sake of clarity, this right of refusal shall encompass the time period leading
up to the closing of the Business Combination while the Company is still a special purpose acquisition company. Notwithstanding the foregoing,
in event that a target company - in connection with a Business Combination - sources a private placement of public equity (a &ldquo;PIPE&rdquo;),
the aforementioned right of refusal reference shall not apply in such a limited instance. In accordance with FINRA Rule&nbsp;5110(g)(6)(A),
such right of first refusal shall not have a duration of more than three years from the commencement of sales in the Proposed Public 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"></P>

<!-- Field: Page; Sequence: 242; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->24<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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: justify"><B>Underwriter Agreement</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-align: justify">The underwriters have a 45-day&nbsp;option from
the date of the Proposed Public Offering to purchase up to an additional 825,000 Units to cover over-allotments, if any.</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">The underwriters will be entitled to a cash underwriting
discount of one percent (1%) of the gross proceeds of the Proposed Public Offering, or $550,000 (or up to $632,500 if the underwriters&rsquo;
over-allotment is exercised in full). Additionally, the underwriters will be entitled to four and one-half percent (4.5%) of gross proceeds
of the Proposed Public Offering of the Company&rsquo;s Class&nbsp;A ordinary shares that will be registered in the Proposed Public Offering
and will be paid at the closing of the Proposed Public 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; text-align: justify"><B>Representative Shares</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-align: justify">The Company has&nbsp;agreed to issue to the underwriter
247,500 ordinary shares (or 284,625 shares if the underwriter&rsquo;s over-allotment option is exercised in full) upon the consummation
of the Proposed Public Offering. These shares are being registered in the registration statement of which the Proposed Public Offering
forms a part. The underwriter has agreed not to transfer, assign or sell any such shares until the completion of the initial Business
Combination. In addition, the underwriter has agreed (and its permitted transferees will agree) (i)&nbsp;to waive its redemption rights
with respect to such shares in connection with the completion of the Company&rsquo;s initial Business Combination and (ii)&nbsp;to waive
its rights to liquidating distributions from the Trust Account with respect to such shares if the Company fails to complete its initial
Business Combination within the Combination 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; text-align: justify">The shares have been deemed compensation by FINRA
and are therefore subject to a lock-up for a period of 180 days immediately following the date of the commencement of sales in&nbsp;the
Proposed Public Offering pursuant to FINRA Rule&nbsp;5110(e)(1). Pursuant to FINRA Rule&nbsp;5110(e)(1), these securities will not be
the subject of any hedging, short sale, derivative, put or call transaction that would result in the economic disposition of the securities
by any person for a period of 180 days immediately following the effective date of the registration statement of which the Proposed Public
Offering forms a part, nor may they be sold, transferred, assigned, pledged or hypothecated for a period of 180 days immediately following
the effective date of the registration statement of which the Proposed Public Offering forms a part except to any underwriter and selected
dealer participating in the Proposed Public Offering and their officers, partners, registered persons or affiliates.</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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Note
8</B></FONT>&nbsp;<B>&mdash; Shareholder&rsquo;s Equity</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-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Preferred
Shares</I></B></FONT>&nbsp;&mdash; The Company is authorized to issue a total of 1,000,000 preferred shares with no par value. As of December&nbsp;31,
2023 and 2022, there were no shares of preferred shares issued or outstanding.</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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Class&nbsp;A
Ordinary Shares&nbsp;</I></B></FONT>&mdash; The Company is authorized to issue a total of 100,000,000 Class&nbsp;A ordinary shares with
no par value. As of December&nbsp;31, 2023 and 2022, there were no shares of Class&nbsp;A ordinary shares issued or outstanding.</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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Class&nbsp;B
Ordinary Shares&nbsp;</I></B></FONT>&mdash; The Company is authorized to issue a total of 10,000,000 Class&nbsp;B ordinary shares with
no par value. On July&nbsp;23, 2024, the Company issued 1,581,250 Founder Shares to the Sponsor for $25,000, and immediately repurchased
the 1,437,500 initial shares from the Sponsor for $25,000. The Class&nbsp;B ordinary shares have been retroactively restated to reflect
a share subscription and purchase agreement. As of December&nbsp;31, 2023 and 2022, the Company issued 1,581,250 Class&nbsp;B ordinary
shares to its initial shareholder for $25,000, or approximately $0.016 per share, including an aggregate of up to 206,250 shares subject
to forfeiture if the over-allotment option is not exercised by the underwriters in full.</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">The Class&nbsp;B ordinary shares will automatically
convert into Class&nbsp;A ordinary shares at the time of the initial Business Combination, or earlier at the option of the holder, on
a one-for-one basis, subject to adjustment pursuant to certain anti-dilution right, share splits, share capitalizations, reorganizations,
recapitalizations and the like, and subject to further adjustment as provided herein and in the Company&rsquo;s amended and restated memorandum
and articles of association. In the case that additional Class&nbsp;A ordinary shares, or equity-linked securities, are issued or deemed
issued in excess of the amounts sold in the Proposed Public Offering and related to the closing of the initial Business Combination, the
ratio at which the Class&nbsp;B ordinary shares shall convert into Class&nbsp;A ordinary shares will be adjusted (unless the holders of
a majority of the issued and outstanding Class&nbsp;B ordinary shares agree to waive such anti-dilution adjustment with respect to any
such issuance or deemed issuance) so that the number of Class&nbsp;A ordinary shares issuable upon conversion of all Class&nbsp;B ordinary
shares will equal, in the aggregate, 20% of the sum of all ordinary shares issued and outstanding upon completion of the Proposed Public
Offering, including pursuant to the Over-Allotment Option, plus all Class&nbsp;A ordinary shares issued or deemed issued, or issuable
upon the conversion or exercise of any equity-linked securities issued or deemed issued in connection with or in relation to the initial
Business Combination, excluding any shares or equity-linked securities issued, or to be issued, to any seller in the initial Business
Combination or any private placement-equivalent securities issued to the Sponsor or its affiliates upon conversion of loans made to the
Company.</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">Prior to the initial Business Combination, only
holders of the Founder Shares will have the right to vote on the election of directors. Holders of the public shares will not be entitled
to vote on the election of directors during such time. These provisions of the Company&rsquo;s amended and restated memorandum and articles
of association may only be amended by a resolution passed by holders of at least a majority of the ordinary shares who are eligible to
vote and attend and vote in a general meeting of the shareholders. With respect to any other matter submitted to a vote of the shareholders,
including any vote in connection with the initial Business Combination, except as required by law, holders of the Founder Shares and holders
of the public shares will vote together as a single class, with each share entitling the holder to one vote.</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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Rights&nbsp;</I></B></FONT>&mdash;
Each holder of a right will receive one-fourth (1/4) of one Class&nbsp;A ordinary share upon consummation of the initial Business Combination,
even if the holder of such right redeemed all Class&nbsp;A ordinary shares held by it in connection with the initial Business Combination.
No additional consideration will be required to be paid by a holder of rights in order to receive its additional shares upon consummation
of an initial Business Combination, as the consideration related thereto has been included in the unit purchase price paid for by investors
in the Proposed Public Offering. If the Company enters into a definitive agreement for a Business Combination in which the Company will
not be the surviving entity, the definitive agreement will provide for the holders of rights to receive the same per share consideration
the holders of the Class&nbsp;A ordinary shares will receive in the transaction on an as-converted into Class&nbsp;A ordinary share basis,
and each holder of a right will be required to affirmatively convert its rights in order to receive the 1/4 share underlying each right
(without paying any additional consideration) upon consummation of the Business Combination. More specifically, the right holder will
be required to indicate its election to convert the rights into underlying shares as well as to return the original rights certificates
to the Company.</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">If the Company is unable to complete an initial
Business Combination within the required time period and the Company liquidates the funds held in the Trust Account, holders of rights
will not receive any such funds with respect to their rights, nor will they receive any distribution from the Company&rsquo;s assets held
outside of the Trust Account with respect to such rights, and the rights 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"></P>

<!-- Field: Page; Sequence: 243; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->25<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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: justify">As soon as practicable upon the consummation of
the initial Business Combination, the Company will direct registered holders of the rights to return their rights to the rights agent.
Upon receipt of the rights, the rights agent will issue to the registered holder of such rights the number of full Class&nbsp;A ordinary
shares to which it is entitled. The Company will notify registered holders of the rights to deliver their rights to the rights agent promptly
upon consummation of such Business Combination and have been informed by the rights agent that the process of exchanging their rights
for Class&nbsp;A ordinary shares should take no more than a matter of days. The foregoing exchange of rights is solely ministerial in
nature and is not intended to provide the Company with any means of avoiding the Company&rsquo;s obligation to issue the shares underlying
the rights upon consummation of the initial Business Combination. Other than confirming that the rights delivered by a registered holder
are valid, the Company will have no ability to avoid delivery of the shares underlying the rights. Nevertheless, there are no contractual
penalties for failure to deliver securities to the holders of the rights upon consummation of 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; text-align: justify">The shares issuable upon conversion of the rights
will be freely tradable (except to the extent held by affiliates of the Company&rsquo;s). The Company will not issue fractional shares
upon conversion of the rights. Fractional shares will either be rounded down to the nearest whole share or otherwise addressed in accordance
with the applicable provisions of British Virgin Island&rsquo;s law. As a result, you must hold rights in multiples of 4 in order to receive
shares for all of the investors&rsquo; rights upon closing of a Business Combination. If the Company is unable to complete an initial
Business Combination within the required time period and the Company liquidates the funds held in the Trust Account, holders of rights
will not receive any of such funds with respect to their rights, nor will they receive any distribution from the Company&rsquo;s assets
held outside of the Trust Account with respect to such rights, and the rights will expire worthless. Further, there are no contractual
penalties for failure to deliver securities to the holders of the rights upon consummation of an initial Business Combination. Accordingly,
the rights may 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; text-align: justify"><B>Note 8&nbsp;&mdash; Subsequent Events</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-align: justify">The Company evaluated subsequent events and transactions
that occurred after the balance sheet date up to the date that the financial statements were available to be issued. Based upon this review,
the Company identified the following subsequent events that would have required disclosure in the financial statements.</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">On July&nbsp;23, 2024, the Company issued 1,581,250
Founder Shares to the Sponsor for $25,000, and immediately repurchased the 1,437,500 initial shares from the Sponsor for $25,000, resulting
in 1,581,250 Founder Shares outstanding after the repurchase, of which an aggregate of up to 206,250 shares are subject to forfeiture
if the over-allotment option is not exercised in full or in part by the underwriter.</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: 244; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->26<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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>PART&nbsp;II<BR>
INFORMATION NOT REQUIRED IN PROSPECTUS</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>Item 13. Other Expenses of Issuance and Distribution.</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-align: justify; text-indent: 0.25in">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">&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: #CCEEFF">
    <TD STYLE="width: 86%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Legal fees and expenses</FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">300,000</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounting fees and expenses</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">80,000</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SEC&nbsp;&amp; FINRA Expenses</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24,876</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NASDAQ listing and filing fees</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">80,000</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;Initial Trustee Fee</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">80,000</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Printing and engraving expenses</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">50,000</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Miscellaneous expenses</FONT></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-family: Times New Roman, Times, Serif; font-size: 10pt">235,124</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total offering expenses</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">850,000</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&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"><B>Item 14. Indemnification of Directors and Officers.</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-align: justify; text-indent: 0.25in">British Virgin Islands law
does not limit the extent to which a company&rsquo;s memorandum and articles of association may provide for indemnification of officers
and directors, except to the extent any such provision may be held by the British Virgin Islands courts to be contrary to public policy,
such as to provide indemnification against willful default, civil fraud or the consequences of committing a crime. Our amended and restated
memorandum and articles of association will provide for indemnification of our officers and directors to the maximum extent permitted
by law, including for any liability incurred in their capacities as such, if that officer or director acted honestly and in good faith
with a view to our best interests, and in the case of criminal proceedings, that officer or director had no reasonable cause to believe
that his conduct was unlawful. We may 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.</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; text-indent: 0.25in">Insofar as indemnification
for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling us pursuant to the foregoing
provisions, we have been informed that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities
Act and is therefore unenforceable.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">On September&nbsp;3, 2021,
we issued to our sponsor an aggregate of 1,437,500 founder shares for an aggregate purchase price of $25,000, or approximately $0.017
per share. On July&nbsp;23, 2024, we issued to our sponsor 1,581,250 founder shares for an aggregate purchase price of $25,000 or approximately
$0.016 per share, and subsequently 1,437,500 of the founder shares were repurchased by the Company for an aggregate purchase price of
$25,000. Such securities were issued in connection with our organization pursuant to the exemption from registration contained in Section&nbsp;4(a)(2)&nbsp;of
the Securities Act. Our sponsor is an accredited investor for purposes of Rule&nbsp;501 of Regulation D.</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; text-indent: 0.25in">In addition, our sponsor
has agreed to purchase an aggregate of 280,000 units (or 288,250 units if the over-allotment option is exercised in full) at a price of
$10.00 per unit for an aggregate purchase price of $2,800,000, or $2,882,500 if the over-allotment option is exercised in full. Each private
placement unit will be identical to the units sold in this offering, except as described in this prospectus. The private placement units
will be sold in a private placement that will close simultaneously with the closing of this offering, including the over-allotment option,
as applicable. 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&nbsp;4(a)(2)&nbsp;of the Securities Act. No
underwriting discounts or commissions were paid with respect to such sales.</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: 245 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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>Item 16. Exhibits and Financial Statement Schedules.</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT></TD>
    <TD STYLE="width: 90%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Exhibits</I></FONT>.&emsp;The list of exhibits following the signature page&nbsp;of this registration statement is incorporated herein by reference.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT></TD>
    <TD STYLE="width: 90%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Financial Statements</I></FONT>.&emsp;See page&nbsp;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">&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">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT></TD>
    <TD STYLE="width: 90%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The undersigned registrant hereby undertakes to provide to the underwriter at the closing specified in the underwriting agreements, certificates in such denominations and registered in such names as required by the underwriter to permit prompt delivery to each purchaser.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT></TD>
    <TD STYLE="width: 90%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT></TD>
    <TD STYLE="width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The undersigned registrant hereby undertakes that:</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="width: 85%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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&nbsp;430A and contained in a form of prospectus filed by the registrant pursuant to Rule&nbsp;424(b)(1)&nbsp;or (4)&nbsp;or 497(h)&nbsp;under the Securities Act shall be deemed to be part of this registration statement as of the time it was declared effective.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="width: 85%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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&nbsp;<I>bona fide</I>&nbsp;offering thereof.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="width: 85%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</FONT></TD>
    <TD STYLE="width: 85%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the purpose of determining liability under the Securities Act of 1933 to any purchaser, if the registrant is subject to Rule&nbsp;430C, each prospectus filed pursuant to Rule&nbsp;424(b)&nbsp;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&nbsp;430A, shall be deemed to be part of and included in the registration statement as of the date it is first used after effectiveness. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such first use, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such date of first use.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt 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: 246 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</FONT></TD>
    <TD STYLE="width: 85%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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:</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</FONT></TD>
    <TD STYLE="width: 82%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule&nbsp;424;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%">&nbsp;</TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</FONT></TD>
    <TD STYLE="width: 82%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by an undersigned registrant;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%">&nbsp;</TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</FONT></TD>
    <TD STYLE="width: 82%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrant or its securities provided by or on behalf of the undersigned registrant; and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%">&nbsp;</TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)</FONT></TD>
    <TD STYLE="width: 82%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any other communication that is an offer in the offering made by the undersigned registrant to the purchaser.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt 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: 247 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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>SIGNATURES</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-align: justify; text-indent: 0.25in"> 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 [9]<SUP>th</SUP> day of September, 2024. </P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>A SPAC III Acquisition Corp.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 47%; border-bottom: #333333 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Claudius Tsang</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Claudius Tsang</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Chairman, Chief Executive Officer and Chief Financial Officer</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: 248 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.25in"> Pursuant to the requirements
of the Securities Act of 1933, as amended, this Registration Statement has been signed below by the following person in the capacities
on September [9], 2024. </P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 49%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name</B></FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 49%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Position</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Claudius Tsang</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman, Chief Executive Officer and Chief Financial Officer </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Claudius Tsang</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Principal Financial and Accounting Officer)</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"></P>

<!-- Field: Page; Sequence: 249 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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>AUTHORIZED U.S.&nbsp;REPRESENTATIVE</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-align: justify"> Pursuant to the Securities Act&nbsp;of&nbsp;1933,
as amended, the undersigned, the duly authorized representative in the U.S.&nbsp;of A SPAC III Acquisition Corp. has signed this registration
statement in the City of New&nbsp;York, on September [9], 2024. </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">&nbsp;</FONT></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>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">AUTHORIZED U.S.&nbsp;REPRESENTATIVE</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><B>[&#9679;]</B></B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 45%; border-bottom: black 1pt solid">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[<FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT>]</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[<FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT>]</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"></P>

<!-- Field: Page; Sequence: 250 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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&nbsp;INDEX</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: #333333 1pt solid; width: 10%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit&nbsp;No.</B></FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 88%; border-bottom: #333333 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom"><A HREF="tm2420226d3_ex1-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.1</FONT></A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="tm2420226d3_ex1-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;of Underwriting Agreement.</FONT></A></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.1</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Memorandum and Articles of Association.</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.2</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;of Amended and Restated Memorandum and Articles of Association.</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom"><A HREF="tm2420226d3_ex4-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1</FONT></A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="tm2420226d3_ex4-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Specimen Unit Certificate.</FONT></A></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom"><A HREF="tm2420226d3_ex4-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.2</FONT></A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="tm2420226d3_ex4-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Specimen Class&nbsp;A Ordinary Share Certificate.</FONT></A></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom"><A HREF="tm2420226d3_ex4-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.3</FONT></A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="tm2420226d3_ex4-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Specimen Right Certificate.</FONT></A></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom"><A HREF="tm2420226d3_ex4-4.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.4</FONT></A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="tm2420226d3_ex4-4.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;of Rights Agreement between Continental Stock Transfer&nbsp;&amp; Trust Company and the Registrant.</FONT></A></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.1</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opinion of Ogier counsel to the Registrant.</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.2</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opinion of Loeb&nbsp;&amp; Loeb LLP, counsel to the Registrant.</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.1</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Promissory Note, dated as of September&nbsp;10, 2021 issued to A SPAC
III (Holdings) Corp.</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom"><A HREF="tm2420226d3_ex10-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.2</FONT></A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="tm2420226d3_ex10-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;of Letter Agreement among the Registrant and its officers, directors and A SPAC III (Holdings) Corp.</FONT></A></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom"><A HREF="tm2420226d3_ex10-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.3</FONT></A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="tm2420226d3_ex10-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;of Investment Management Trust Agreement between Continental Stock Transfer&nbsp;&amp; Trust Company and the Registrant.</FONT></A></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom"><A HREF="tm2420226d3_ex10-4.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.4</FONT></A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="tm2420226d3_ex10-4.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;of Registration Rights Agreement between the Registrant and certain security holders.</FONT></A></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.5</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;of Securities Subscription Agreement between the Registrant and A SPAC III (Holdings) Corp.</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom"><A HREF="tm2420226d3_ex10-6.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.6</FONT></A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="tm2420226d3_ex10-6.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;of Private Placement Units Purchase Agreement between the Registrant and A SPAC III (Holdings) Corp.</FONT></A></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.7</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;of Indemnity Agreement.</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom"><A HREF="tm2420226d3_ex14.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14</FONT></A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="tm2420226d3_ex14.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;of Code of Ethics.</FONT></A></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.1</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of WWC, P.C.</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.2</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Ogier (included on Exhibit&nbsp;5.1).</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.3</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Loeb&nbsp;&amp; Loeb LLP (included on Exhibit&nbsp;5.2).</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Power of Attorney.*</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom"><A HREF="tm2420226d3_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="tm2420226d3_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;of Audit Committee Charter.</FONT></A></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom"><A HREF="tm2420226d3_ex99-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.2</FONT></A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="tm2420226d3_ex99-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;of Compensation Committee Charter.</FONT></A></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom"><A HREF="tm2420226d3_ex99-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.3</FONT></A></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="tm2420226d3_ex99-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form&nbsp;of Nominating Committee Charter.</FONT></A></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.4</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Xiangge Liu.</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.5</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Wong Yi Dung Eden.</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.6</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Pang Wai Yuen Marvin.</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">107</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filing Fee Table.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD>
    <TD STYLE="width: 98%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Previously filed</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"></P>

<!-- Field: Page; Sequence: 251; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.1
<SEQUENCE>2
<FILENAME>filename2.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 1.1</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-align: center"><B>5,500,000 Units</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>A SPAC III Acquisition Corp.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNDERWRITING AGREEMENT</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-align: right">[<FONT STYLE="font-family: Symbol">&middot;</FONT>], 2024</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">MAXIM GROUP LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">300 Park Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">16<SUP>th</SUP> Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, NY 10002</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"><I>As Representative of the Underwriters</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>named on <U>Schedule A</U>
hereto</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">Ladies and Gentlemen:</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; text-indent: 1in">The undersigned, A SPAC III
Acquisition Corp., a company incorporated as a British Virgin Islands company (&#8220;<B>Company</B>&#8221;), hereby confirms its agreement
with Maxim Group LLC (hereinafter referred to as &#8220;<B>you</B>&#8221;, &#8220;<B>Maxim</B>&#8221;, or as the &#8220;<B>Representative</B>&#8221;)
and with the other underwriters named on <I>Schedule A </I>hereto for which you are acting as representative (the Representative and the
other Underwriters being collectively referred to herein as the &#8220;<B>Underwriters</B>&#8221; or, individually, an &#8220;<B>Underwriter</B>&#8221;),
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0.2pt"></TD><TD STYLE="width: 17.9pt">1.</TD><TD><U>Purchase and Sale of Securities</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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">1.1.</TD><TD><U>Firm Securities</U>.</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; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.1.1.&#8239;&#8239;&#8239;<U>Purchase
of Firm Units</U>. On the basis of the representations and warranties herein contained, but subject to the terms and conditions herein
set forth, the Company agrees to issue and sell, severally and not jointly, to the several Underwriters, an aggregate of 5,500,000 units
(the &#8220;<B>Firm Units</B>&#8221;) of the Company at a purchase price (net of discounts and commissions) of $9.90 per Firm Unit. The
Underwriters, severally and not jointly, agree to purchase from the Company the number of Firm Units set forth opposite their respective
names on <I>Schedule A, </I>attached hereto and made a part hereof, at a purchase price (net of discounts and commissions) of $9.90 per
Firm Unit. The Firm Units (and the Option Units (as hereinafter defined), if any) are to be offered initially to the public (the &#8220;<B>Offering</B>&#8221;)
at the offering price of $10.00 per Firm Unit. Each Firm Unit consists of (i)&#8239;one Class&#8239;A ordinary share of the Company, with
no par value (each, a &#8220;<B>Class&#8239;A Ordinary Share</B>&#8221;) and (ii)&#8239;one right (&#8220;<B>Right(s)</B>&#8221;) with each
Right entitling the holder thereof to receive one-fourth (1/4) of one Class&#8239;A Ordinary Share upon consummation of the initial Business
Combination (as defined below). The Class&#8239;A Ordinary Shares and Rights included in the Firm Units will not be separately transferable
until the 52</FONT><FONT STYLE="font-size: 10pt">nd </FONT>day after the date that the Registration Statement (as defined below) is declared
effective (the &#8220;<B>Effective Date</B>&#8221;) or the announcement by the Company of the Representative&#8217;s decision to allow
earlier trading, subject, however, to the Company filing a Current Report on Form&#8239;8-K (&#8220;<B>Form&#8239;8-K</B>&#8221;) with the
Commission (as defined below) containing an audited balanced sheet reflecting the Company&#8217;s receipt of the gross proceeds of the
Offering and filing a Form&#8239;8-K announcing when such separate trading will begin. In no event will the Company allow separate trading
until (i)&#8239;the preparation of an audited balance sheet of the Company reflecting receipt by the Company of the proceeds of the Offering
and the filing of such audited balance sheet with the Commission (as herein defined) on a Form&#8239;8-K or similar form by the Company
which includes such balance sheet and (ii)&#8239;the filing of a Form&#8239;8-K announcing when such separate trading shall begin. As used
herein, the term &#8220;<B>Business Combination</B>&#8221; shall mean any merger, share exchange, share reconstruction and amalgamation,
share purchase, purchasing all or substantially all of the assets of, entering into contractual arrangements with, or engaging in any
other similar business combination with, one or more operating businesses by the Company. As used herein, the term &#8220;<B>Business
Day</B>&#8221; shall mean any day other than a Saturday, Sunday or any day on which national banks in New York, New York are not open
for business. As used herein, the term &#8220;Effective Date&#8221; shall mean the date that the Registration Statement (as defined below)
is declared effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</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">&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">1.1.2.&#8239;&#8239;&#8239;<U>Payment
and Delivery</U>. Delivery and payment for the Firm Units shall be made at 10:00 A.M., New York time, on the second (2nd) Business
Day following the Effective Date of the Registration Statement (or the third Business Day following the Effective Date, if the
Registration Statement is declared effective at or after 4:00 P.M.) or at such earlier time as shall be agreed upon by the
Representative and the Company at the offices of Maxim or at such other place as shall be agreed upon by the Representative and the
Company. The closing of the public offering contemplated by this Agreement is referred to herein as the &#8220;<B>Closing</B>&#8221;
and the hour and date of delivery and payment for the Firm Units is referred to herein as the &#8220;<B>Closing Date</B>.&#8221;
Payment for the Firm Units shall be made on the Closing Date at the Representative&#8217;s election by wire transfer in Federal
(same day) funds or by certified or bank cashier&#8217;s check(s)&#8239;in New York Clearing House funds. $55,000,000 ($63,250,000 if
the Over- allotment Option (as defined in Section&#8239;1.2) is exercised in full), or approximately $10.00 per unit, of the proceeds
received by the Company for the Firm Units and from the Private Placement (as defined in <U>Section&#8239;1.6</U>) shall be deposited
in the trust account established by the Company for the benefit of the public shareholders as described in the Registration
Statement (the &#8220;<B>Trust Account</B>&#8221;) pursuant to the terms of an Investment Management Trust Agreement (the
 &#8220;Trust Agreement&#8221;). The proceeds (less commissions, expense allowance and actual expense payments or other fees payable
pursuant to this Agreement) shall be paid to the order of the Company upon delivery to the Representative of certificates (in form
and substance reasonably satisfactory to the Underwriters) representing the Firm Units (or through the facilities of the Depository
Trust Company (&#8220;<B>DTC</B>&#8221;)) for the account of the Underwriters. The Firm Units shall be registered in such name or
names and in such authorized denominations as the Representative may request in writing at least two (2)&#8239;Business Days prior to
the Closing Date. The Company will permit the Representative to examine and package the Firm Units for delivery at least one
(1)&#8239;full Business Day prior to the Closing Date. The Company shall not be obligated to sell or deliver the Firm Units except
upon tender of payment by the Representative for all the Firm Units.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</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">1.2.</TD><TD><U>Over-Allotment Option</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">1.2.1.&#8239;&#8239;&#8239;<U>Option
Units</U>. For the purpose of covering any over-allotments in connection with the distribution and sale of the Firm Units, the
Underwriters are hereby granted, severally and not jointly, an option to purchase up to an additional 825,000 units from the Company
(the &#8220;<B>Over-allotment Option</B>&#8221;). Such additional 825,000 units shall be identical in all respects to the Firm Units
and are hereinafter referred to as &#8220;<B>Option Units</B>.&#8221; The Firm Units and the Option Units are hereinafter
collectively referred to as the &#8220;<B>Units</B>,&#8221; and the Units, the Class&#8239;A Ordinary Shares and the Rights included
in the Units and the Class&#8239;A Ordinary Shares issuable upon conversion of the Rights are hereinafter referred to collectively as
the &#8220;<B>Public Securities</B>.&#8221; The purchase price to be paid for the Option Units (net of discounts and commissions)
will be $9.90 per Option Unit. The Option Units are to be offered initially to the public at the offering price of $10.00 per Option
Unit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">1.2.2.&#8239;&#8239;&#8239;<U>Exercise
of Option</U>. The Over-allotment Option granted pursuant to <U>Section&#8239;1.2.1</U> hereof may be exercised by the Representative as
to all (at any time) or any part (from time to time) of the Option Units within 45 days after the Effective Date. The Underwriters will
not be under any obligation to purchase any Option Units prior to the exercise of the Over-allotment Option. The Over-allotment Option
granted hereby may be exercised by the giving of oral notice to the Company from the Representative, which must be confirmed in writing
by overnight mail or facsimile or e-mail transmission setting forth the number of Option Units to be purchased and the date and time for
delivery of and payment for the Option Units, which will not be later than five Business Days after the date of the notice or such other
time as shall be agreed upon by the Company and the Representative, at the offices of the Representative or at such other place or in
such other manner as shall be agreed upon by the Company and the Representative. If such delivery and payment for the Option Units does
not occur on the Closing Date, the date and time of the closing for such Option Units will be as set forth in the notice (hereinafter
the &#8220;<B>Option Closing Date</B>&#8221;). Upon exercise of the Over-allotment Option, the Company will become obligated to convey
to the Underwriters, and, subject to the terms and conditions set forth herein, the Underwriters will become obligated to purchase, the
number of Option Units specified in such notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">1.2.3.&#8239;&#8239;&#8239;<U>Payment
and Delivery</U>. Delivery and payment for the Option Units shall be made at 10:00 AM, New York time, on the Option Closing Date or
at such earlier time as shall be agreed upon by the Representative and the Company at the offices of the Representative or at such
other place as shall be agreed upon by the Representative and the Company. Payment for the Option Units shall be made on the Option
Closing Date (or at such earlier time as shall be agreed upon by the Representative and the Company) at the Representative&#8217;s
election by wire transfer in Federal (same day) funds or by certified or bank cashier&#8217;s check(s)&#8239;in New York Clearing
House funds, by deposit of the sum of $9.90 per Option Unit in the Trust Account pursuant to the Trust Agreement upon delivery to
the Representative of certificates (in form and substance reasonably satisfactory to the Underwriters) representing the Option Units
(or through the facilities of DTC) for the account of the Underwriters. The certificates representing the Option Units to be
delivered will be in such denominations and registered in such names as the Representative requests not less than one Business Day
prior to the Closing Date or the Option Closing Date, as the case may be, and will be made available to the Representative for
inspection, checking and packaging at the aforesaid office of the Company&#8217;s transfer agent or correspondent not less than two
(2)&#8239;full Business Days prior to such Closing Date or Option Closing Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</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">1.3.</TD><TD><U>Reserved</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.4.&#8239;&#8239;&#8239;<U>Representative&#8217;s
Shares</U>. The Company hereby agrees to issue to Maxim Partners LLC 247,500 Class&#8239;A Ordinary Shares (or 284,625 Class&#8239;A Ordinary
Shares if the Over-allotment Option is exercised in full, with proportional increase to the number of shares for partial exercise of the
Over-allotment Option) (the &#8220;<B>Issuance Shares</B>&#8221;) on the Closing Date, or Option Closing Date, as applicable. Maxim Partners
LLC has agreed not to transfer, assign or sell any such Issuance Shares until the completion of the initial Business Combination. In addition,
Maxim Partners LLC has agreed (i)&#8239;to waive its redemption rights with respect to such shares in connection with the completion of
the initial Business Combination and (ii)&#8239;to waive its rights to liquidating distributions from the trust account with respect to
such shares if the Company fails to complete the initial Business Combination within 12 months from the closing of the Offering (or up
to 18 months from the closing of this Offering if the Company extends the period of time to consummate an initial Business Combination
by the full amount of time). Maxim Partners LLC will not sell, transfer, assign, pledge or hypothecate the Issuance Shares, or cause the
Issuance Shares to be the subject of any hedging, short sale, derivative, put, or call transaction that would result in the effective
economic disposition of the Issuance Shares by any person, for a period of 180 days (pursuant to Rule&#8239;5110(e)(1)&#8239;of the Conduct
Rules&#8239;of FINRA) following the Effective Date to anyone other than (i)&#8239;Maxim or an underwriter or selected dealer in connection
with the Offering, or (ii)&#8239;any officers, partners, registered persons or affiliates of Maxim or of any such underwriter or selected
dealer. On and after the 181st day following the Effective Date, transfers to others may be made subject to compliance with or exemptions
from applicable securities laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.5.&#8239;&#8239;&#8239;<U>Delivery
and Payment</U>. Delivery of the Issuance Shares shall be made on the Closing Date, or Option Closing Date, as applicable. The Company
shall deliver to Maxim and their designees, book-entry confirmations certificates for the Issuance Shares in the name or names and in
such authorized denominations as Maxim may request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</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">1.6</TD><TD><U>Private Placement</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">1.6.1&#8239;&#8239;&#8239;&#8239;<U>Placement
Units</U>. Simultaneously with the consummation of the Offering, A SPAC III (Holdings) Corp. (the &#8220;<B>Sponsor</B>&#8221;) shall
purchase from the Company pursuant to the Subscription Agreement (as defined in Section&#8239;2.25.2 hereof) an aggregate of 280,000 Units
(the &#8220;<B>Placement Units</B>&#8221;) at a purchase price of $10.00 per Placement Unit in a private placement (the &#8220;<B>Private
Placement</B>&#8221;). The Placement Units and the Class&#8239;A Ordinary Shares and Rights underlying the Placement Units are hereinafter
referred to collectively as the &#8220;<B>Placement Securities</B>.&#8221; Each Placement Unit shall be identical to the Units, except
that the Placement Units shall be non-redeemable by the Company so long as the Units continue to be held by the initial purchasers of
the Units or their permitted transferees (as described in the Subscription Agreement and the Rights Agreement (as defined in Section&#8239;2.27
hereof)). Except as disclosed in the Registration Statement, there will be no placement agent in the Private Placement and no party shall
be entitled to a placement fee or expense allowance from the sale of the Placement Securities. The Subscription Agreement shall state
that the Sponsor has agreed to waive its redemption rights with respect to the Placement Securities in connection with the completion
of the initial Business Combination and (ii)&#8239;to waive its rights to liquidating distributions from the trust account with respect
to the Placement Securities if the Company fails to complete the initial Business Combination within 12 months from the closing of the
Offering (or up to 18 months from the closing of this Offering if the Company extends the period of time to consummate an initial Business
Combination by the full amount of time).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">1.6.2&#8239;&#8239;&#8239;<U>Additional
Placement Units.</U> Immediately prior to the Option Closing, the Sponsor shall purchase from the Company pursuant to the
Subscription Agreement an additional number of Placement Units (up to a maximum of 8,250 additional Placement Units) <I>pro rata </I>with
the amount of the Over-allotment Option exercised by the Representative so that at least $10.00 per Firm Unit and Option Unit sold
to the public in the Offering is held in trust regardless of whether the Over-allotment Option is exercised in full or part (the
 &#8220;<B>Additional Placement Units</B>&#8221;), at a purchase price of $10.00 per Additional Placement Unit in a private placement
(the &#8220;<B>Additional Private Placement</B>&#8221;). The Additional Placement Units and the Class&#8239;A Ordinary Shares and the
Rights underlying the Additional Placement Units are hereinafter referred to collectively as the &#8220;<B>Additional Placement
Securities</B>.&#8221; Except as disclosed in the Registration Statement, there will be no placement agent in the Additional Private
Placement and no party shall be entitled to a placement fee or expense allowance from the sale of the Placement Securities. The
Subscription Agreement shall state that the Sponsor has agreed to waive its redemption rights with respect to the Additional
Placement Securities in connection with the completion of the initial Business Combination and (ii)&#8239;to waive its rights to
liquidating distributions from the trust account with respect to the Additional Placement Securities if the Company fails to
complete the initial Business Combination within 12 months from the closing of the Offering (or up to 18 months from the closing of
this Offering if the Company extends the period of time to consummate an initial Business Combination by the full amount of
time).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2.&#8239;&#8239;&#8239;&#8239;<U>Representations
and Warranties of the Company</U>. The Company represents and warrants to the Underwriters as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</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">2.1.</TD><TD><U>Filing of Registration Statement</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.1.1.&#8239;&#8239;&#8239;<U>Pursuant
to the Act</U>. The Company has filed with the Securities and Exchange Commission (the &#8220;<B>Commission</B>&#8221;) a registration
statement and an amendment or amendments thereto, on Form&#8239;S-1 (File No.&#8239;333- [&#8226;]), including any related preliminary prospectus
(the &#8220;<B>Preliminary Prospectus</B>&#8221;, including any prospectus that is included in the Registration Statement immediately
prior to the effectiveness of the Registration Statement), for the registration of the Public Securities under the Securities Act of 1933,
as amended (the &#8220;<B>Act</B>&#8221;), which registration statement and amendment or amendments have been prepared by the Company
in conformity in all material respects with the requirements of the Act, and the rules&#8239;and regulations (the &#8220;<B>Regulations</B>&#8221;)
of the Commission under the Act. The conditions for use of Form&#8239;S-1 to register the Offering under the Act, as set forth in the General
Instructions to such Form, have been satisfied in all material respects. Except as the context may otherwise require, such registration
statement, as amended, on file with the Commission at the time the registration statement becomes effective (including the prospectus,
financial statements, schedules, exhibits and all other documents filed as a part thereof or incorporated therein and all information
deemed to be a part thereof as of such time pursuant to Rule&#8239;430A of the Regulations), is hereinafter called the &#8220;<B>Registration
Statement</B>,&#8221; and the form of the final prospectus dated the Effective Date included in the Registration Statement (or, if applicable,
the form of final prospectus containing information permitted to be omitted at the time of effectiveness by Rule&#8239;430A of the Regulations
filed with the Commission pursuant to Rule&#8239;424 of the Regulations), is hereinafter called the &#8220;<B>Prospectus</B>.&#8221; For
purposes of this Agreement, &#8220;<B>Time of Sale</B>&#8221;, as used in the Act, means 5:00 p.m., New York City time, on the date of
this Agreement. If the Company has filed, or is required pursuant to the terms hereof to file, a registration statement pursuant to Rule&#8239;462(b)&#8239;under
the Act registering the Securities (a &#8220;<B>Rule&#8239;462(b)&#8239;Registration Statement</B>&#8221;), then, unless otherwise specified,
any reference herein to the term &#8220;<B>Registration Statement</B>&#8221; shall be deemed to include such Rule&#8239;462(b)&#8239;Registration
Statement. Other than a Rule&#8239;462(b)&#8239;Registration Statement, which, if filed, becomes effective upon filing, no other document
with respect to the Registration Statement has heretofore been filed with the Commission. All of the Public Securities have been registered
under the Act pursuant to the Registration Statement or, if any Rule&#8239;462(b)&#8239;Registration Statement is filed, will be duly registered
under the Act with the filing of such Rule&#8239;462(b)&#8239;Registration Statement. The Registration Statement has been declared effective
by the Commission on the date hereof. If, subsequent to the date of this Agreement, the Company or the Representative has determined that
at the Time of Sale the Prospectus included an untrue statement of a material fact or omitted a statement of material fact necessary to
make the statements therein, in light of the circumstances under which they were made, not misleading, and have agreed to provide an opportunity
to purchasers of the Firm Units to terminate their old purchase contracts and enter into new purchase contracts, the Prospectus will be
deemed to include any additional information available to purchasers at the time of entry into the first such new purchase contract.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.1.2.&#8239;&#8239;&#8239;<U>Pursuant
to the Exchange Act</U>. The Company has filed with the Commission a Form&#8239;8-A (File Number 001-[&#8226;]) providing for the registration
under the Securities Exchange Act of 1934, as amended (the &#8220;<B>Exchange Act</B>&#8221;), of the Units, the Class&#8239;A Ordinary
Shares and the Rights. The registration of the Units, Class&#8239;A Ordinary Shares and Rights under the Exchange Act will be declared
effective by the Commission on or prior to the Effective Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.2.&#8239;&#8239;&#8239;<U>No
Stop Orders, Etc.</U> Neither the Commission nor, to the best of the Company&#8217;s knowledge, any state regulatory authority has issued
any order or threatened to issue any order preventing or suspending the use of any Preliminary Prospectus or Prospectus or any part thereof,
or has instituted or, to the best of the Company&#8217;s knowledge, threatened to institute any proceedings with respect to such an order.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</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">2.3.</TD><TD><U>Disclosures in Registration Statement</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.3.1.&#8239;&#8239;&#8239;<U>10b-5
Representation</U>. At the time the Registration Statement became effective, upon the filing or first use (within the meaning of the
Regulations) of the Prospectus and at the Closing Date and the Option Closing Date, if any, the Registration Statement and the
Prospectus contained or will contain all material statements that are required to be stated therein in accordance with the Act and
the Regulations, and did or will in all material respects conform to the requirements of the Act and the Regulations. Neither the
Registration Statement nor any Preliminary Prospectus or the Prospectus, nor any amendment or supplement thereto, on their
respective dates, did or will contain any untrue statement of a material fact or omit to state any material fact required to be
stated therein or necessary to make the statements therein (in the case of the Preliminary Prospectus and the Prospectus, in light
of the circumstances under which they were made), not misleading. When any Preliminary Prospectus was first filed with the
Commission (whether filed as part of the Registration Statement for the registration of the Securities or any amendment thereto or
pursuant to Rule&#8239;424(a)&#8239;of the Regulations) or first used (within the meaning of the Regulations) and when any amendment
thereof or supplement thereto was first filed with the Commission or first used (within the meaning of the Regulations), such
Preliminary Prospectus and any amendments thereof and supplements thereto complied or will have been corrected in the Prospectus to
comply in all material respects with the applicable provisions of the Act and the Regulations and did not and will not contain an
untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary in order to make
the statements therein, in light of the circumstances under which they were made, not misleading. The representation and warranty
made in this <U>Section&#8239;2.3.1</U> does not apply to statements made or statements omitted in reliance upon and in conformity
with written information furnished to the Company with respect to the Underwriters by the Representative expressly for use in the
Registration Statement or Prospectus or any amendment thereof or supplement thereto. It is understood the following identified
statements set forth in the Prospectus under the heading &#8220;Underwriting&#8221; constitute, for the purposes of this Agreement,
information furnished by the Representative with respect to the Underwriters: (i)&#8239;the names of the Underwriters; (ii)&#8239;the
table of underwriters in the first paragraph of the section captioned &#8220;Underwriting&#8221;, and (iii)&#8239;the subsections
titled &#8220;Price Stabilization, Short Positions&#8221;, and &#8220;Electronic Distribution&#8221; included in the section
captioned &#8220;Underwriting&#8221;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.3.2.&#8239;&#8239;&#8239;<U>Disclosure
of Agreements</U>. The agreements and documents described in the Registration Statement, the Preliminary Prospectus and the Prospectus
conform to the descriptions thereof contained therein and there are no agreements or other documents required to be described in the
Registration Statement, the Preliminary Prospectus or the Prospectus or to be filed with the Commission as exhibits to the Registration
Statement, that have not been so described or filed. Each agreement or other instrument (however characterized or described) to which
the Company is a party or by which its property or business is or may be bound or affected and (i)&#8239;that is referred to in the Registration
Statement, Preliminary Prospectus or the Prospectus or attached as an exhibit thereto, or (ii)&#8239;is material to the Company&#8217;s
business, has been duly and validly executed by the Company, is in full force and effect in all material respects and is enforceable
against the Company and, to the Company&#8217;s knowledge, the other parties thereto, in accordance with its terms, except (<I>x</I>)&#8239;as
such enforceability may be limited by bankruptcy, insolvency, reorganization or similar laws affecting creditors&#8217; rights generally,
(<I>y</I>)&#8239;as enforceability of any indemnification or contribution provision may be limited under the federal and state securities
laws, and (<I>z</I>)&#8239;that the remedy of specific performance and injunctive and other forms of equitable relief may be subject to
the equitable defenses and to the discretion of the court before which any proceeding therefor may be brought, and none of such agreements
or instruments has been assigned by the Company, and neither the Company nor, to the Company&#8217;s knowledge, any other party is in
breach or default thereunder and, to the Company&#8217;s knowledge, no event has occurred that, with the lapse of time or the giving
of notice, or both, would constitute a breach or default thereunder. To the Company&#8217;s knowledge, performance by the Company of
the material provisions of such agreements or instruments will not result in a material violation of any existing applicable law, rule,
regulation, judgment, order or decree of any governmental agency or court, domestic or foreign, having jurisdiction over the Company
or any of its assets or businesses, including, without limitation, those relating to environmental laws and regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.3.3.&#8239;&#8239;&#8239;<U>Prior
Securities Transactions</U>. No securities of the Company have been sold by the Company or by or on behalf of, or for the benefit of,
any person or persons controlling, controlled by, or under common control with the Company since the date of the Company&#8217;s formation,
except as disclosed in the Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.3.4.&#8239;&#8239;&#8239;<U>Regulations</U>.
The disclosures in the Registration Statement, the Preliminary Prospectus and the Prospectus concerning the effects of federal, state
and local regulation on the Company&#8217;s business as currently contemplated fairly summarize, to the best of the Company&#8217;s knowledge,
such effects and do not omit to state a material fact necessary to make the statements therein, in light of the circumstances in which
they were made, not misleading.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</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"></TD><TD STYLE="width: 0.25in">2.4.</TD><TD><U>Changes After Dates in Registration Statement</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.4.1.&#8239;&#8239;&#8239;<U>No
Material Adverse Change</U>. Except as contemplated or disclosed in the Prospectus, since the respective dates as of which information
is given in the Registration Statement, any Preliminary Prospectus and/or the Prospectus (i)&#8239;there has been no material adverse change
in the condition, financial or otherwise, or business prospects of the Company (the &#8220;<B>Material Adverse Effect</B>&#8221;); (ii)&#8239;there
have been no material transactions entered into by the Company, other than as contemplated pursuant to this Agreement; (iii)&#8239;no member
of the Company&#8217;s board of directors or management has resigned from any position with the Company and (iv)&#8239;no event or occurrence
has taken place which materially impairs, or would likely materially impair, with the passage of time, the ability of the members of the
Company&#8217;s board of directors or management to act in their capacities with the Company as described in the Registration Statement
and the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.4.2.&#8239;&#8239;&#8239;<U>Recent
Securities Transactions, Etc.</U> Except as contemplated in the Prospectus, subsequent to the respective dates as of which information
is given in the Registration Statement and the Prospectus, and except as may otherwise be indicated or contemplated herein or therein,
the Company has not: (i)&#8239;issued any securities or incurred any liability or obligation, direct or contingent, for borrowed money;
or (ii)&#8239;declared or paid any dividend or made any other distribution on or in respect to its shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.5.&#8239;&#8239;&#8239;<U>Independent
Accountants</U>. To the best of the Company&#8217;s knowledge, WWC, P.C. (&#8220;<B>WWC</B>&#8221;), whose report is filed with the Commission
as part of the Registration Statement and included in the Registration Statement, the Preliminary Prospectus and the Prospectus, are independent
accountants as required by the Act and the Regulations and the Public Company Accounting Oversight Board (including the rules&#8239;and
regulations promulgated by such entity, the &#8220;<B>PCAOB</B>&#8221;). To the best of the Company&#8217;s knowledge, WWC is duly registered
and in good standing with the PCAOB. WWC has not, during the periods covered by the financial statements included in the Registration
Statement and the Prospectus, provided to the Company any non-audit services, as such term is used in Section&#8239;10A(g)&#8239;of the
Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</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">2.6.</TD><TD><U>Financial Statements; Statistical Data</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.6.1.&#8239;&#8239;&#8239;<U>Financial
Statements</U>. The financial statements, including the notes thereto and supporting schedules, included in the Registration Statement,
the Preliminary Prospectus and the Prospectus fairly present the financial position and the results of operations of the Company at the
dates and for the periods to which they apply; and such financial statements have been prepared in conformity with generally accepted
accounting principles, consistently applied throughout the periods involved; and the supporting schedules included in the Registration
Statement present fairly the information required to be stated therein. To the best of the Company&#8217;s knowledge, no other financial
statements or supporting schedules are required to be included or incorporated by reference in the Registration Statement, the Preliminary
Prospectus or the Prospectus. The Registration Statement, the Preliminary Prospectus and the Prospectus disclose all material off-balance
sheet transactions, arrangements, obligations (including contingent obligations), and other relationships of the Company with unconsolidated
entities or other persons that may have a material current or future effect on the Company&#8217;s financial condition, changes in financial
condition, results of operations, liquidity, capital expenditures, capital resources, or significant components of revenues or expenses.
To the best of the Company&#8217;s knowledge, there are no pro forma or as adjusted financial statements which are required to be included
in the Registration Statement and the Prospectus in accordance with Regulation S-X which have not been included as so required.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"></P>

<!-- Field: Page; Sequence: 6 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.6.2.&#8239;&#8239;&#8239;<U>Statistical
Data</U>. The statistical, industry-related and market-related data included in the Registration Statement, the Preliminary Prospectus
and the Prospectus are based on or derived from sources which the Company reasonably and in good faith believes are reliable and accurate,
and such data agree with the sources from which they are derived.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.7.&#8239;&#8239;&#8239;<U>Authorized
Capital; Options, Etc.</U> The Company had at the date or dates indicated in the Registration Statement, the Preliminary Prospectus and
the Prospectus, as the case may be, duly authorized, issued and outstanding capitalization as set forth in the Registration Statement,
the Preliminary Prospectus and the Prospectus. Based on the assumptions stated in the Registration Statement, the Preliminary Prospectus
and the Prospectus, the Company will have on the Closing Date the adjusted share capitalization set forth therein. Except as set forth
in, or contemplated by, the Registration Statement, the Preliminary Prospectus and the Prospectus, on the Effective Date and on the Closing
Date and the Option Closing Date, if any, there will be no options, warrants, or other rights to purchase or otherwise acquire any authorized,
but unissued Class&#8239;A Ordinary Shares or any security convertible into Class&#8239;A Ordinary Shares, or any contracts or commitments
to issue or sell Class&#8239;A Ordinary Shares or any such options, warrants, rights or convertible securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</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">2.8.</TD><TD><U>Valid Issuance of Securities, Etc</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.8.1.&#8239;&#8239;&#8239;<U>Outstanding
Securities</U>. All issued and outstanding securities of the Company (including, without limitation, the Placement Securities and the
Additional Placement Securities) have been duly authorized and validly issued and are fully paid and non-assessable; the holders thereof
have no rights of rescission with respect thereto, and are not subject to personal liability by reason of being such holders; and none
of such securities were issued in violation of the preemptive rights of any holders of any security of the Company or similar contractual
rights granted by the Company. The Public Securities conform in all material respects to all statements relating thereto contained in
the Registration Statement, the Preliminary Prospectus and the Prospectus. Subject to the disclosure contained in the Registration Statement,
the Preliminary Prospectus and the Prospectus with respect to the Placement Securities and the Additional Placement Securities, the offers
and sales of the outstanding Class&#8239;A Ordinary Shares were at all relevant times either registered under the Act and the applicable
state securities or Blue Sky laws or, based in part on the representations and warranties of the purchasers of such Class&#8239;A Ordinary
Shares, exempt from such registration requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.8.2.&#8239;&#8239;&#8239;<U>Securities
Sold</U>. The Securities have been duly authorized and reserved for issuance and when issued and paid for, will be validly issued, fully
paid and non-assessable; the holders thereof are not and will not be subject to personal liability by reason of being such holders; the
Securities are not and will not be subject to the preemptive rights of any holders of any security of the Company or similar contractual
rights granted by the Company; and all corporate actions required to be taken for the authorization, issuance and sale of the Securities
have been duly and validly taken. The Securities conform in all material respects to all statements with respect thereto contained in
the Registration Statement, the Preliminary Prospectus and the Prospectus, as the case may be. When issued, the Rights will constitute
valid and binding obligations of the Company to issue, upon conversion thereof, the number and type of securities of the Company called
for thereby in accordance with the terms thereof and the Rights, and the Rights are enforceable against the Company in accordance with
their respective terms, except: (i)&#8239;as such enforceability may be limited by bankruptcy, insolvency, reorganization or similar laws
affecting creditors&#8217; rights generally; (ii)&#8239;as enforceability of any indemnification or contribution provision may be limited
under federal and state securities laws; and (iii)&#8239;that the remedy of specific performance and injunctive and other forms of equitable
relief may be subject to the equitable defenses and to the discretion of the court before which any proceeding therefor may be brought.
The Issuance Shares, when issued in accordance with the terms hereof, will be duly and validly authorized, validly issued, fully paid
and non-assessable; the holders thereof are not and will not be subject to personal liability by reason of being such holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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

<!-- Field: Page; Sequence: 7 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.8.3.&#8239;&#8239;&#8239;<U>Placement
Securities</U>. The Placement Securities and the Additional Placement Securities have been duly authorized and reserved for issuance
and when issued and paid for, will be validly issued, fully paid and non-assessable; the Placement Securities and the Additional
Placement Securities are not and will not be subject to the preemptive rights of any holders of any security of the Company or
similar contractual rights granted by the Company; and all corporate actions required to be taken for the authorization, issuance
and sale of the Placement Securities and the Additional Placement Securities have been duly and validly taken. When issued, the
Rights underlying the Placement Units and the Additional Placement Units will constitute valid and binding obligations of the
Company to issue, upon conversion thereof, the number and type of securities of the Company called for thereby in accordance with
the terms thereof, and such Rights are enforceable against the Company in accordance with their respective terms, except:
(i)&#8239;as such enforceability may be limited by bankruptcy, insolvency, reorganization or similar laws affecting creditors&#8217;
rights generally; (ii)&#8239;as enforceability of any indemnification or contribution provision may be limited under federal and
state securities laws; and (iii)&#8239;that the remedy of specific performance and injunctive and other forms of equitable relief may
be subject to the equitable defenses and to the discretion of the court before which any proceeding therefor may be brought. The
Class&#8239;A Ordinary Shares underlying the Rights included in the Placement Units and the Additional Placement Units have been
reserved for issuance, and upon conversion of such Rights, when the Class&#8239;A Ordinary Shares are issued in accordance with the
terms of such Rights, such Class&#8239;A Ordinary Shares will be duly and validly authorized, validly issued, fully paid and non-
assessable, and the holders thereof are not and will not be subject to personal liability by reason of being such holders</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.8.4.&#8239;&#8239;&#8239;<U>No
Integration</U>. Subject to the disclosure contained in the Registration Statement, the Preliminary Prospectus and/or the Prospectus with
respect to the Placement Securities, neither the Company nor any of its affiliates has, prior to the date hereof, made any offer or sale
of any securities which are required to be &#8220;integrated&#8221; pursuant to the Act or the Regulations with the offer and sale of
the Public Securities pursuant to the Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.9.&#8239;&#8239;<U>Registration
Rights of Third Parties</U>. Except as set forth in the Registration Statement, the Preliminary Prospectus or the Prospectus, no holders
of any securities of the Company or any rights exercisable for or convertible or exchangeable into securities of the Company have the
right to require the Company to register any such securities of the Company under the Act or to include any such securities in a registration
statement to be filed by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.10.&#8239;<U>Validity
and Binding Effect of Agreements</U>. This Agreement, the Trust Agreement (as defined in <U>Section&#8239;2.26</U> hereof), the
Registration Rights Agreement (as defined in <U>Section&#8239;2.25.3 </U>hereof), the Subscription Agreement (as defined in <U>Section&#8239;2.25.2 </U>hereof),
and the Rights Agreement (as defined in <U>Section&#8239;2.27</U> hereof) have been duly and validly authorized by the Company and
constitute valid and binding agreements of the Company, enforceable against the Company in accordance with their respective terms,
except: (i)&#8239;as such enforceability may be limited by bankruptcy, insolvency, reorganization or similar laws affecting
creditors&#8217; rights generally; (ii)&#8239;as enforceability of any indemnification or contribution provision may be limited under
the federal and state securities laws; and (iii)&#8239;that the remedy of specific performance and injunctive and other forms of
equitable relief may be subject to the equitable defenses and to the discretion of the court before which any proceeding therefor
may be brought.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.11.&#8239;<U>No
Conflicts, Etc.</U> The execution, delivery, and performance by the Company of this Agreement, the Trust Agreement, the Rights Agreement,
the Registration Rights Agreement, and the Subscription Agreement, the consummation by the Company of the transactions herein and therein
contemplated and the compliance by the Company with the terms hereof and thereof do not and will not, with or without the giving of notice
or the lapse of time or both: (i)&#8239;result in a material breach of, or conflict with any of the terms and provisions of, or constitute
a material default under, or result in the creation, modification, termination or imposition of any material lien, charge or encumbrance
upon any property or assets of the Company pursuant to the terms of any agreement or instrument to which the Company is a party; (ii)&#8239;result
in any violation of the provisions of the memorandum and articles of association of the Company (the &#8220;<B>Memorandum and Articles
of Association</B>&#8221;); or (iii)&#8239;violate any existing applicable law, rule, regulation, judgment, order or decree of any governmental
agency or court, domestic or foreign, having jurisdiction over the Company or any of its properties or business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.12.&#8239;<U>No
Defaults; Violations</U>. No material default exists in the due performance and observance of any term, covenant or condition of any
material license, contract, indenture, mortgage, deed of trust, note, loan or credit agreement, or any other agreement or instrument
evidencing an obligation for borrowed money, or any other material agreement or instrument to which the Company is a party or by
which the Company may be bound or to which any of the properties or assets of the Company is subject. The Company is not in
violation of any material agreement, license, permit, applicable law, rule, regulation, judgment or decree of any governmental
agency or court, domestic or foreign, having jurisdiction over the Company or any of its properties or businesses, except for such
violations which would not reasonably be expected to have a material adverse effect on the Company. The Company is not in violation
of any term or provision of its Memorandum and Articles of Association.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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

<!-- Field: Page; Sequence: 8 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</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">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">2.13.</TD><TD>&nbsp;<U>Corporate Power; Licenses; Consents.</U></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.13.1.&#8239;&#8239;<U>Conduct
of Business</U>. The Company has all requisite corporate power and authority, and has all necessary authorizations, approvals, orders,
licenses, certificates and permits of and from all governmental regulatory officials and bodies that it needs as of the date hereof to
conduct its business for the purposes described in the Registration Statement, the Preliminary Prospectus and the Prospectus. To the
Company&#8217;s knowledge, the disclosures in the Registration Statement and the Prospectus concerning the effects of federal, state
and local regulation on the Offering and the Company&#8217;s business purpose as currently contemplated are correct in all material respects
and do not omit to state a material fact required to be stated therein or necessary in order to make the statements therein (with respect
to the Prospectus, in light of the circumstances under which they were made), not misleading. Since its formation, the Company has conducted
no business and has incurred no liabilities other than in connection with and in furtherance of the Offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.13.2.&#8239;&#8239;<U>Transactions
Contemplated Herein</U>. The Company has all corporate power and authority to enter into this Agreement and to carry out the provisions
and conditions hereof, and all consents, authorizations, approvals and orders required in connection therewith have been obtained. No
consent, authorization or order of, and no filing with, any court, government agency or other body is required for the valid issuance,
sale and delivery, of the Securities and the consummation of the transactions and agreements contemplated by this Agreement, the Trust
Agreement, the Rights Agreement, the Subscription Agreement and the Registration Rights Agreement and as contemplated by the Prospectus,
except with respect to applicable federal and state securities laws and the rules&#8239;and regulations promulgated by the Financial
Industry Regulatory Authority (&#8220;<B>FINRA</B>&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.14.&#8239;<U>D&amp;O
Questionnaires</U>. To the knowledge of the Company, all information contained in the questionnaires (the &#8220;<B>Questionnaires</B>&#8221;)
completed by each of the Company&#8217;s shareholders prior to the Offering (the &#8220;<B>Initial Shareholders</B>&#8221;) and each of
the Company&#8217;s officers and directors and included by the Company in the Registration Statement is true and correct in all material
respects and the Company has not become aware of any information which would cause the information disclosed in the Questionnaires completed
by each Initial Shareholder, officer or director, to become inaccurate and incorrect in any material respect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.15.&#8239;<U>Litigation;
Governmental Proceedings</U>. There is no action, suit, proceeding, inquiry, arbitration, investigation, litigation or governmental proceeding
pending or, to the best of the Company&#8217;s knowledge, threatened against, or involving the Company or, to the best of the Company&#8217;s
knowledge, any of its officers, directors or Initial Shareholders which is required to be disclosed and has not been disclosed in the
Registration Statement, the Questionnaires, the Preliminary Prospectus and the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.16.&#8239;<U>Good
Standing</U>. The Company has been duly incorporated, is validly existing and is in good standing under the laws of its country of incorporation
and is duly qualified to do business and is in good standing as a foreign company in each jurisdiction in which its ownership or lease
of property or the conduct of business requires such qualification, except where the failure to qualify would not have a material adverse
effect on the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.17.&#8239;<U>No
Contemplation of a Business Combination</U>. Prior to the date hereof, neither the Company, nor, to its knowledge, its officers and directors
nor the Initial Shareholders had, and as of the Closing, the Company and such officers and directors and Initial Shareholders will not
have had: (i)&#8239;any specific Business Combination under consideration or contemplation; or (ii)&#8239;any substantive interactions or
discussions with any target business regarding a possible Business Combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</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">2.18.</TD><TD>&nbsp;<U>Transactions Affecting Disclosure to FINRA</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.18.1.&#8239;&#8239;Except
as described in the Preliminary Prospectus and/or the Prospectus, there are no claims, payments, arrangements, agreements or understandings
relating to the payment of a finder&#8217;s, consulting or origination fee by the Company or its officers or directors or any Initial
Shareholder with respect to the sale of the Securities hereunder or any other arrangements, agreements or understandings of the Company
or, to the Company&#8217;s knowledge, any of its officers, directors or Initial Shareholders that may affect the Underwriters&#8217; compensation,
as determined by FINRA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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

<!-- Field: Page; Sequence: 9 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.18.2.&#8239;&#8239;&#8239;The
Company has not made any direct or indirect payments (in cash, securities or otherwise) to: (i)&#8239;any person, as a finder&#8217;s
fee, consulting fee or otherwise, in consideration of such person raising capital for the Company or introducing to the Company
persons who raised or provided capital to the Company; (ii)&#8239;to any FINRA member; or (iii)&#8239;to any person or entity that has
any direct or indirect affiliation or association with any FINRA member, within the twelve (12) months prior to the Effective Date,
other than payments to the Representative.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.18.3.&#8239;&#8239;&#8239;To
its knowledge, no officer, director, or beneficial owner of any class of the Company&#8217;s securities (whether debt or equity, registered
or unregistered, regardless of the time acquired or the source from which derived) (any such individual or entity, a &#8220;<B>Company
Affiliate</B>&#8221;) is a member, a person associated, or affiliated with a member of FINRA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.18.4.&#8239;&#8239;&#8239;No
Company Affiliate is an owner of stock or other securities of any member of FINRA (other than securities purchased on the open market).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"> 2.18.5.&#8239;&#8239;&#8239;No Company Affiliate has made a subordinated loan to any member of FINRA.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.18.6.&#8239;&#8239;&#8239;No
proceeds from the sale of the Public Securities (excluding underwriting compensation) or the Placement Securities or Additional Placement
Securities will be paid to any FINRA member, or any persons associated or affiliated with a member of FINRA, except as specifically authorized
herein and in the Subscription Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.18.7.&#8239;&#8239;&#8239;The
Company has not issued any warrants or other securities, or granted any options, directly or indirectly to anyone who is a potential underwriter
in the Offering or a related person (as defined by FINRA rules) of such an underwriter within the 180-day period prior to the initial
filing date of the Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.18.8.&#8239;&#8239;&#8239;No
person to whom securities of the Company have been privately issued within the 180- day period prior to the initial filing date of the
Registration Statement has any relationship or affiliation or association with any member of FINRA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.18.9.&#8239;&#8239;&#8239;No
FINRA member intending to participate in the Offering has a conflict of interest with the Company. For this purpose, a &#8220;conflict
of interest&#8221; exists when a member of FINRA and its associated persons, parent or affiliates in the aggregate beneficially own 10%
or more of the Company&#8217;s outstanding subordinated debt or equity, or 10% or more of the Company&#8217;s preferred equity. &#8220;Members
participating in the Offering&#8221; include managing agents, syndicate group members and all dealers which are members of FINRA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.18.10.&#8239;&#8239;&#8239;Except
with respect to the Representative in connection with the Offering, the Company has not entered into any agreement or arrangement (including,
without limitation, any consulting agreement or any other type of agreement) during the 180-day period prior to the initial filing date
of the Registration Statement, which arrangement or agreement provides for the receipt of any item of value and/or the transfer of any
warrants, options, or other securities from the Company to a FINRA member, any person associated with a member (as defined by FINRA rules),
any potential underwriters in the Offering and any related persons.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</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">2.19.</TD><TD>&nbsp;<U>Taxes</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.19.1.&#8239;&#8239;&#8239;There
are no transfer taxes or other similar fees or charges under BVI law, U.S. federal law or the laws of any U.S. state or any political
subdivision thereof, required to be paid in connection with the execution and delivery of this Agreement or the issuance or sale by the
Company of the Public Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.19.2.&#8239;&#8239;&#8239;The
Company has filed all non-U.S. and U.S. federal, state and local tax returns that are required to be a filed or has requested extensions
thereof, except in any case in which the failure to so file would not have a Material Adverse Effect, and has paid all taxes required
to be paid by it and any other assessment, fine or penalty levied against it, to the extent that any of the foregoing in due and payable,
except for any such assessment, fine or penalty that is currently being contested in good faith or as would not have a Material Adverse
Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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

<!-- Field: Page; Sequence: 10 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.20.&#8239;&nbsp;<U>Foreign
Corrupt Practices Act</U>. Neither the Company nor, to the Company&#8217;s knowledge, any of its officers, directors or Initial Shareholders
or any other person acting on behalf of the Company has, directly or indirectly, given or agreed to give any money, gift or similar benefit
(other than legal price concessions to customers in the ordinary course of business) to any customer, supplier, employee or agent of a
customer or supplier, or official or employee of any governmental agency or instrumentality of any government (domestic or foreign) or
any political party or candidate for office (domestic or foreign) or any political party or candidate for office (domestic or foreign)
or other person who was, is, or may be in a position to help or hinder the business of the Company (or assist it in connection with any
actual or proposed transaction) that: (i)&#8239;might subject the Company to any damage or penalty in any civil, criminal or governmental
litigation or proceeding; (ii)&#8239;if not given in the past, might have had a material adverse effect on the assets, business or operations
of the Company as reflected in any of the financial statements contained in the Registration Statement, the Preliminary Prospectus and/or
the Prospectus; or (iii)&#8239;if not continued in the future, might adversely affect the assets, business, operations or prospects of
the Company. The Company&#8217;s internal accounting controls and procedures are sufficient to cause the Company to comply with the Foreign
Corrupt Practices Act of 1977, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.21.&#8239;&nbsp;<U>Currency
and Foreign Transactions Reporting Act</U>. The operations of the Company are and have been conducted at all times in material compliance
with (a)&#8239;the requirements of the U.S. Treasury Department Office of Foreign Asset Control and (b)&#8239;applicable financial recordkeeping
and reporting requirements of the Currency and Foreign Transaction Reporting Act of 1970, as amended, the money laundering statutes of
all applicable jurisdictions, the rules&#8239;and regulations thereunder and any related or similar rules, regulations or guidelines, issued,
administered or enforced by any governmental agency (collectively, the &#8220;<B>Money Laundering Laws</B>&#8221;) and no action, suit
or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company with respect to
the Money Laundering Laws is pending or, to the best knowledge of the Company, threatened.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.22.&#8239;&nbsp;<U>Bank Secrecy
Act; Patriot Act</U>. Neither the Company nor, to the Company&#8217;s knowledge, any officer, director or Initial Shareholder has violated:
(i)&#8239;the Bank Secrecy Act of 1970, as amended; (ii)&#8239;the Money Laundering Laws; or (iii)&#8239;the Uniting and Strengthening of
America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT ACT) Act of 2001, and/or the rules&#8239;and
regulations promulgated under any such law, or any successor law.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.23.&#8239;&nbsp;<U>Officers&#8217;
Certificate</U>. Any certificate signed by any duly authorized officer of the Company and delivered to the Representative or to the Representative&#8217;s
counsel shall be deemed a representation and warranty by the Company to the Underwriters as to the matters covered thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</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">2.24.</TD><TD>&nbsp;<U>[intentionally omitted]</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</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">2.25.</TD><TD><U>Agreements With Officers, Directors and Initial Shareholders</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.25.1.&#8239;&#8239;&#8239;<U>Insider
Letters</U>. The Company has caused to be duly executed legally binding and enforceable agreements (except: (i)&#8239;as such enforceability
may be limited by bankruptcy, insolvency, reorganization or similar laws affecting creditors&#8217; rights generally; (ii)&#8239;as enforceability
of any indemnification, contribution or non-compete provision may be limited under the federal and state securities laws; and (iii)&#8239;that
the remedy of specific performance and injunctive and other forms of equitable relief may be subject to the equitable defenses and to
the discretion of the court before which any proceeding therefor may be brought) annexed as exhibits to the Registration Statement (the
 &#8220;<B>Insider Letter</B>&#8221;), pursuant to which each of the officers, directors and Initial Shareholders of the Company agree
to certain matters, including but not limited to, certain matters described as being agreed to by them under the &#8220;Proposed Business&#8221;
Section&#8239;of the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.25.2.&#8239;&#8239;&#8239;<U>Subscription
Agreement</U>. The Sponsor has executed and delivered an agreement, annexed as an exhibit to the Registration Statement (the &#8220;<B>Subscription
Agreement</B>&#8221;), pursuant to which the Sponsor, among other things, has purchased an aggregate of up to 280,000 Placement Units
in the Private Placement, and an aggregate of up to 8,250 Additional Placement Units should the Representative exercise the Over-allotment
Option. Pursuant to the Subscription Agreement, all of the proceeds from the sale of the Placement Units and Additional Placement Units
will be deposited by the Company in the Trust Account in accordance with the terms of the Trust Agreement prior to the Closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

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

<!-- Field: Page; Sequence: 11 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">2.25.3.&#8239;&#8239;&#8239;<U>Registration
Rights Agreement</U>. The Company, the Sponsor, the Initial Shareholders and Maxim have entered into a registration rights agreement (the
 &#8220;<B>Registration Rights Agreement</B>&#8221;) substantially in the form annexed as an exhibit to the Registration Statement, whereby
the parties will be entitled to certain registration rights with respect to their securities, as set forth in such Registration Rights
Agreement and described more fully in the Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.26.&#8239;&#8239;<U>Investment
Management Trust Agreement</U>. The Company has entered into the Trust Agreement with respect to certain proceeds of the Offering and
the Private Placement substantially in the form filed as an exhibit to the Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.27.&#8239;&#8239;<U>Rights
Agreement</U>. The Company has entered into a rights agreement with respect to the Rights with Continental Stock Transfer&#8239;&#8239;&amp; Trust
Company (&#8220;<B>CST</B>&#8221;), substantially in the form filed as an exhibit to the Registration Statement (the &#8220;<B>Rights
Agreement</B>&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.28.&#8239;&#8239;<U>Covenants
Not to Compete</U>. To the Company&#8217;s knowledge, no officer, director or Initial Shareholder of the Company is subject to any non-competition
agreement or non-solicitation agreement with any employer or prior employer which could materially affect his or her ability to be an
Initial Shareholder, employee, officer or director of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.29.&#8239;&#8239;<U>Investments</U>.
No more than 45% of the &#8220;value&#8221; (as defined in Section&#8239;&#8239;2(a)(41) of the Investment Company Act of 1940, as amended (the
 &#8220;Investment Company Act&#8221;)) of the Company&#8217;s total assets consist of, and no more than 45% of the Company&#8217;s net
income after taxes is derived from, securities other than &#8220;Government Securities&#8221; (as defined in Section&#8239;&#8239;2(a)(16) of
the Investment Company Act).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.30.&#8239;&#8239;<U>Investment
Company Act</U>. The Company is not required, and upon the issuance and sale of the Securities as herein contemplated and the application
of the net proceeds therefrom as described in the Preliminary Prospectus and Prospectus will not be required, to register as an &#8220;investment
company&#8221; under the Investment Company Act</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.31.&#8239;&#8239;<U>Subsidiaries</U>.
The Company does not own an interest in any company, corporation, partnership, limited liability company, joint venture, trust or other
business entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.32.&#8239;&#8239;<U>Related
Party Transactions</U>. No relationship, direct or indirect, exists between or among any of the Company or any Company Affiliate, on the
one hand, and any director, officer, shareholder, customer or supplier of the Company or any Company Affiliate, on the other hand, which
is required by the Act, the Exchange Act or the Regulations to be described in the Registration Statement, the Preliminary Prospectus
and/or the Prospectus which is not so described and described as required. There are no outstanding loans, advances (except normal advances
for business expenses in the ordinary course of business) or guarantees of indebtedness by the Company to or for the benefit of any of
the officers or directors of the Company or any of their respective family members, except as disclosed in the Registration Statement,
the Preliminary Prospectus and/or the Prospectus. The Company has not extended or maintained credit, arranged for the extension of credit,
or renewed an extension of credit, in the form of a personal loan to or for any director or officer of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.33.&#8239;&#8239;<U>No
Influence</U>. The Company has not offered, or caused the Underwriters to offer, the Firm Units to any person or entity with the intention
of unlawfully influencing: (i)&#8239;&#8239;a customer or supplier of the Company or any Company Affiliate to alter the customer&#8217;s or supplier&#8217;s
level or type of business with the Company or such affiliate; or (ii)&#8239;&#8239;a journalist or publication to write or publish favorable information
about the Company or any such affiliate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.34.&#8239;&#8239;<U>Trading
of the Public Securities on the Nasdaq Capital Market.</U> As of the Effective Date and the Closing Date, the Public Securities will have
been authorized for listing on the Nasdaq Capital Market and no proceedings have been instituted or threatened which would effect, and
no event or circumstance has occurred as of the Effective Date which is reasonably likely to effect, the listing of the Public Securities
on the Nasdaq Capital Market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

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

<!-- Field: Page; Sequence: 12 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.35.&#8239;&#8239;<U>Free-Writing
Prospectus and Testing-the-Waters</U>. The Company has not made any offer relating to the Public Securities that would constitute an
issuer free writing prospectus, as defined in Rule&#8239;&#8239;433 under the Act, or that would otherwise constitute a &#8220;free writing
prospectus&#8221; as defined in Rule&#8239;&#8239;405. The Company (a)&#8239;&#8239;has not engaged in any Testing-the-Waters Communication other
than Testing-the-Waters Communications with the consent of the Representative with entities that are qualified institutional buyers
within the meaning of Rule&#8239;&#8239;144A under the Act or institutions that are accredited investors within the meaning of Rule&#8239;&#8239;501
under the Act and (b)&#8239;&#8239;has not authorized anyone to engage in Testing-the-Waters Communications other than its officers and the
Representative and individuals engaged by the Representative. The Company has not distributed any Written Testing-the-Waters
Communications other than those listed on <U>Schedule B</U> hereto. &#8220;Testing-the-Waters Communication&#8221; means any oral or
written communication with potential investors undertaken in reliance on Section&#8239;&#8239;5(d)&#8239;&#8239;of the Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.36.&#8239;&#8239;<U>Disclosure
Controls and Procedures</U>. The Company maintains effective &#8220;disclosure controls and procedures&#8221; (as defined under Rule&#8239;&#8239;13a-15(e)&#8239;&#8239;under
the Exchange Act), to the extent required by such rule.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.37.&#8239;&#8239;<U>Definition
of &#8220;Knowledge&#8221;</U>. As used in herein, the term &#8220;<B>knowledge of the Company</B>&#8221; (or similar language) shall
mean the knowledge of the officers and directors of the Company who are named in the Prospectus, with the assumption that such officers
and directors shall have made reasonable inquiry of the matters presented.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.38&#8239;&#8239;&#8239;&#8239;<U>Sarbanes-Oxley</U>.
The Company is, or on the Closing Date will be, in material compliance with the provisions of the Sarbanes-Oxley Act of 2002, as amended,
and the rules&#8239;&#8239;and regulations promulgated thereunder and related or similar rules&#8239;&#8239;or regulations promulgated by any governmental
or self-regulatory entity or agency, that are applicable to it as of the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.39&#8239;&#8239;&#8239;&#8239;<U>NASDAQ
Stock Market</U>. The Public Securities have been authorized for listing, subject to official notice of issuance and evidence of satisfactory
distribution, on The Nasdaq Capital Market (&#8220;Nasdaq&#8221;), and the Company knows of no reason or set of facts that is likely to
adversely affect such authorization. There is and has been no failure on the part of the Company or, to the knowledge of the Company,
no failure on the part of any executive officer or director of the Company, in their capacities as such, to comply with (as and when applicable),
and immediately following the Effective Date, the Company will be in compliance with, the applicable requirements of Nasdaq.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.40&#8239;&#8239;&#8239;&#8239;<U>Board
of Directors</U>. As of the Effective Date, the Board of Directors of the Company will be comprised of the persons set forth as &#8220;Directors&#8221;
under the heading of the Preliminary Statutory Prospectus and the Prospectus captioned &#8220;Management.&#8221; As of the Effective Date,
the qualifications of the persons serving as board members and the overall composition of the board will comply with the Sarbanes-Oxley
Act of 2002 and the rules&#8239;&#8239;promulgated thereunder and the rules&#8239;&#8239;of Nasdaq that are, in each case, applicable to the Company.
As of the Effective Date, the Company will have an Audit Committee that satisfies the applicable requirements under the Sarbanes-Oxley
Act of 2002 and the rules&#8239;&#8239;promulgated thereunder and the rules&#8239;&#8239;of Nasdaq.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.41&#8239;&#8239;&#8239;&#8239;<U>Emerging
Growth Company</U>. From its formation through the date hereof, the Company has been and is an &#8220;emerging growth company,&#8221;
as defined in Section&#8239;&#8239;2(a)&#8239;&#8239;of the Act (an &#8220;Emerging Growth Company&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.42&#8239;&#8239;&#8239;&#8239;<U>No
Disqualification Events</U>. Neither the Company, nor any of its predecessors or any affiliated issuer, nor any director, executive officer,
or other officer of the Company participating in the Offering, nor any beneficial owner of 20% or more of the Company&#8217;s outstanding
voting equity securities, calculated on the basis of voting power, nor any promoter (as that term is defined in Rule&#8239;&#8239;405 under the
Act) connected with the Company in any capacity at the Applicable Time (each, a &#8220;Company Covered Person&#8221;) is subject to any
of the &#8220;Bad Actor&#8221; disqualifications described in Rule&#8239;&#8239;506(d)(1)(i)&#8239;&#8239;to (viii)&#8239;&#8239;under the Act (a &#8220;Disqualification
Event&#8221;), except for a Disqualification Event covered by Rule&#8239;&#8239;506(d)(2)&#8239;&#8239;or Rule&#8239;&#8239;506(d)(3). The Company has exercised
reasonable care to determine whether any Company Covered Person is subject to a Disqualification Event. The Company has complied, to the
extent applicable, with its disclosure obligations under Rule&#8239;&#8239;506(e), and has furnished to the Underwriters a copy of any disclosures
provided thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

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

<!-- Field: Page; Sequence: 13 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</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: 0.2pt"></TD><TD STYLE="width: 17.9pt">3.</TD><TD><U>Covenants of the Company</U>. The Company covenants and agrees as follows:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</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"></TD><TD STYLE="width: 0.25in">1.</TD><TD></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.1.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Amendments
to Registration Statement</U>. The Company will deliver to the Representative, prior to filing, any amendment or supplement to the Registration
Statement or Prospectus proposed to be filed after the Effective Date and will not file any such amendment or supplement to which the
Representative shall reasonably object in writing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</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">3.2.</TD><TD><U>Federal Securities Laws</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.2.1.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Compliance</U>.
During the time when a Prospectus is required to be delivered under the Act, the Company will use commercially reasonable efforts to comply
with all requirements imposed upon it by the Act, the Regulations and the Exchange Act and by the regulations under the Exchange Act,
as from time to time in force, so far as necessary to permit the continuance of sales of or dealings in the Public Securities in accordance
with the provisions hereof and the Prospectus. If at any time when a Prospectus relating to the Public Securities is required to be delivered
under the Act, any event shall have occurred as a result of which, in the opinion of counsel for the Company or counsel for the Underwriters,
the Prospectus, as then amended or supplemented, includes an untrue statement of a material fact or omits to state any material fact required
to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading,
or if it is necessary during such period to amend the Registration Statement or amend or supplement the Prospectus to comply with the
Act, the Company will notify the Representative promptly and prepare and file with the Commission, subject to <U>Section&#8239;&#8239;3.1</U>
hereof, an appropriate amendment to the Registration Statement or amendment or supplement to the Prospectus (at the expense of the Company)
so as to correct such statement or omission or effect such compliance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.2.2.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Filing
of Final Prospectus</U>. The Company will file the Prospectus (in form and substance reasonably satisfactory to the Representative) with
the Commission pursuant to the requirements of Rule&#8239;&#8239;424 of the Regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.2.3.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Exchange
Act Registration</U>. For a period of five (5)&#8239;&#8239;years from the Effective Date, or until such earlier time upon which the Company
is required to be liquidated, the Company will use all reasonable efforts to maintain the registration of the Units, Class&#8239;&#8239;A Ordinary
Shares and Rights under the provisions of the Exchange Act. The Company will not deregister the Units, Class&#8239;&#8239;A Ordinary Shares and
Rights under the Exchange Act without the prior written consent of the Representative.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.2.4.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Free
Writing Prospectuses</U>. The Company will not make any offer relating to the Public Securities that would constitute an issuer free writing
prospectus, as defined in Rule&#8239;&#8239;433 under the Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.2.5.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Sarbanes-Oxley
Compliance</U>. As soon as it is legally required to do so, the Company shall take all actions necessary to obtain and thereafter maintain
material compliance with each applicable provision of the Sarbanes-Oxley Act of 2002, as amended, and the rules&#8239;&#8239;and regulations promulgated
thereunder and related or similar rules&#8239;&#8239;and regulations promulgated by any other governmental or self-regulatory entity or agency
with jurisdiction over the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.3.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Blue
Sky Filing</U>. Unless the Public Securities are listed on the Nasdaq Capital Market or another national securities exchange, the Company
at its expense will endeavor in good faith, in cooperation with the Representative, at or prior to the time the Registration Statement
becomes effective, to qualify the Public Securities for offering and sale under the securities laws of such jurisdictions as the Representative
may reasonably designate, provided that no such qualification shall be required in any jurisdiction where, as a result thereof, the Company
would be subject to service of general process or to taxation as a foreign company doing business in such jurisdiction. In each jurisdiction
where such qualification shall be effected, the Company will, unless the Representative agrees that such action is not at the time necessary
or advisable, use all reasonable efforts to file and make such statements or reports at such times as are or may be required by the laws
of such jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.4.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Delivery
to Underwriters of Prospectuses</U>. The Company will deliver to each of the several Underwriters, without charge, from time to time
during the period when the Prospectus is required to be delivered under the Act or the Exchange Act such number of copies of each
Preliminary Prospectus and Prospectus and all amendments and supplements to such documents as such Underwriters may reasonably
request and, as soon as the Registration Statement or any amendment or supplement thereto becomes effective, deliver to the
Representative two original executed Registration Statements, including exhibits, and all post-effective amendments thereto and
copies of all exhibits filed therewith or incorporated therein by reference and all original executed consents of certified
experts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

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

<!-- Field: Page; Sequence: 14 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.5.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Effectiveness
and Events Requiring Notice to the Representative</U>. The Company will use all reasonable efforts to cause the Registration Statement
to remain effective and will notify the Representative immediately and confirm the notice in writing: (i)&#8239;&#8239;of the effectiveness of
the Registration Statement and any amendment thereto; (ii)&#8239;&#8239;of the issuance by the Commission of any stop order suspending the effectiveness
of the Registration Statement, or any post-effective amendment thereto or preventing or suspending the use of any Preliminary Prospectus
or the Prospectus or of the initiation, or the threatening, of any proceeding for that purpose; (iii)&#8239;&#8239;of the issuance by any state
securities commission of any proceedings for the suspension of the qualification of the Public Securities for offering or sale in any
jurisdiction or of the initiation, or the threatening, of any proceeding for that purpose; (iv)&#8239;&#8239;of the mailing and delivery to the
Commission for filing of any amendment or supplement to the Registration Statement or Prospectus; (v)&#8239;&#8239;of the receipt of any comments
or request for any additional information from the Commission; and (vi)&#8239;&#8239;of the happening of any event during the period described
in Section&#8239;&#8239;3.4 hereof that, in the judgment of the Company, makes any statement of a material fact made in the Registration Statement,
the Preliminary Prospectus and/or the Prospectus untrue or that requires the making of any changes in the Registration Statement, the
Preliminary Prospectus and/or the Prospectus in order to make the statements therein (with respect to the Preliminary Prospectus and
the Prospectus in light of the circumstances under which they were made), not misleading. If the Commission or any state securities commission
shall enter a stop order or suspend such qualification at any time, the Company will make every reasonable effort to obtain promptly
the lifting of such order.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.6.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Review
of Financial Statements</U>. Until the earlier of five (5)&#8239;&#8239;years from the Effective Date, or until such earlier date upon which the
Company is required to be liquidated, the Company, at its expense, shall cause its regularly engaged independent certified public accountants
to review (but not audit) the Company&#8217;s financial statements for each of the first three fiscal quarters prior to the announcement
or filing of quarterly financial information, if any.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</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">3.7.</TD><TD>&nbsp;<U>Affiliated Transactions</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.7.1.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Business
Combinations</U>. The Company will not consummate a Business Combination with any entity which is affiliated with any of its officers,
directors or Initial Shareholders unless the Company obtains an opinion from an independent investment banking firm or another independent
firm that commonly renders valuation opinions or an independent accounting firm to determine the fair market value of the target business
or businesses stating the Business Combination is fair to the Company&#8217;s shareholders from a financial perspective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.7.2.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Compensation</U>.
The Company shall not pay any of its officers, directors or Initial Shareholders or any of their affiliates any fees or compensation from
the Company, for services rendered to the Company prior to, or in connection with, this Offering or the consummation of a Business Combination;
<I>provided </I>that the officers, directors and the Initial Shareholder shall be entitled to reimbursement from the Company for their
out-of-pocket expenses incurred on the Company&#8217;s behalf, which includes any loans and advances made to the Company prior to the
Closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</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">
    <TD STYLE="width: 0.5in">&#8239;&#8239;</TD><TD STYLE="width: 0.25in">3.8.</TD><TD STYLE="text-align: justify">&nbsp;<U>Reports to the Representative</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.8.1.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Periodic
Reports, Etc.</U> For a period of five (5)&#8239;&#8239;years from the Effective Date or until such earlier time upon which the Company is
dissolved, the Company will furnish to the Representative and its counsel copies of such financial statements and other periodic and
special reports as the Company from time to time furnishes generally to holders of any class of its securities, and promptly furnish
to the Representative: (i)&#8239;&#8239;a copy of each periodic report the Company shall be required to file with the Commission;
(ii)&#8239;&#8239;a copy of every press release and every news item and article with respect to the Company or its affairs which was
released by the Company; (iii)&#8239;&#8239;a copy of each Form&#8239;&#8239;8-K or Schedules 13D, 13G, 14D-1 or 13E-4 received or prepared by the
Company; (iv)&#8239;&#8239;five (5)&#8239;&#8239;copies of each Registration Statement; and (v)&#8239;&#8239;such additional documents and information with
respect to the Company and the affairs of any future subsidiaries of the Company as the Representative may from time to time
reasonably request; <I>provided </I>that the Representative shall sign, if requested by the Company, a Regulation FD compliant
confidentiality agreement which is reasonably acceptable to the Representative and its counsel in connection with the
Representative&#8217;s receipt of such information. Documents filed with the Commission pursuant to its Electronic Data Gathering,
Analysis and Retrieval System (&#8220;<B>EDGAR</B>&#8221;) shall be deemed to have been delivered to the Representative pursuant to
this section.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

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

<!-- Field: Page; Sequence: 15 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.8.2.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Transfer
Sheets</U>. For a period of five (5)&#8239;&#8239;years following the Effective Date or until such earlier time upon which the Company is dissolved,
the Company shall retain a transfer and rights agent acceptable to the Representative (the &#8220;<B>Transfer Agent</B>&#8221;). In the
event the Public Securities are not listed on the Nasdaq Capital Market or such other national securities exchange, the Company will furnish
to the Underwriters at the Company&#8217;s sole cost and expense such transfer sheets of the Company&#8217;s securities as the Representative
may request, including the daily and monthly consolidated transfer sheets of the Transfer Agent and DTC. CST is an acceptable Transfer
Agent to the Representative.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.8.3.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Trading
Reports</U>. If the Public Securities are quoted on the OTC Bulletin Board (or any successor trading market) or a market operated by the
OTC Market Group Inc. (or similar publisher of quotations), then during such time the Company shall provide to the Representative, at
its expense, such reports published by the OTC Bulletin Board or the OTC Market Group Inc. relating to price trading of the Public Securities,
as the Representative shall reasonably request. In addition to the requirements of the preceding sentence, if the Public Securities are
not listed on a national securities exchange, for a period of two (2)&#8239;&#8239;years from the Closing Date, the Company, at its expense, shall
provide Maxim, upon written request, a subscription to the Company&#8217;s weekly Depository Transfer Company Security Position Reports.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</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">3.9.</TD><TD>&nbsp;<U>Payment of Expenses</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.9.1.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>General
Expenses Related to the Offering</U>. The Company hereby agrees to pay on each of the Closing Date and the Option Closing Date, if
any, to the extent not paid at Closing Date, all expenses incident to the performance of the obligations of the Company under this
Agreement, including, but not limited to: (i)&#8239;&#8239;the preparation, printing, filing and mailing (including the payment of postage
with respect to such mailing) of the Registration Statement, the Preliminary Prospectus and/or the final Prospectus and the printing
and mailing of this Agreement and related documents, including the cost of all copies thereof and any amendments thereof or
supplements thereto supplied to the Underwriters in quantities as may be required by the Underwriters; (ii)&#8239;&#8239;the printing,
engraving, issuance and delivery of the Units, and the Class&#8239;&#8239;A Ordinary Shares and Rights included in the Units, including any
transfer or other taxes payable thereon; (iii)&#8239;&#8239;if the public securities are not listed on a national securities exchange, the
qualification of the Public Securities under state or foreign securities or Blue Sky laws, including the costs of printing and
mailing the &#8220;Preliminary Blue Sky Memorandum,&#8221; and all amendments and supplements thereto, fees and disbursements for
counsel of Maxim&#8217;s choice retained for such purpose; (iv)&#8239;&#8239;filing fees incurred in registering the Offering with FINRA
(including all Public Offering System filing fees); (v)&#8239;&#8239;fees and disbursements of the transfer and rights agent; (vi)&#8239;&#8239;the
Company&#8217;s expenses associated with &#8220;road show&#8221; marketing &#8220;due diligence&#8221; meetings arranged by the
Representative (none of which will be received or paid on behalf of an underwriter and related person); (vii)&#8239;&#8239;the preparation
of leather bound volumes and Lucite cube or similar commemorative items in a style as reasonably requested by Maxim;
(viii)&#8239;&#8239;background checks on the Company&#8217;s directors, director nominees and executive officers as requested by the
Representative; (ix)&#8239;&#8239;transfer taxes, all fees and any expenses and fees incurred by Maxim&#8217;s counsel, transfer and rights
agent and registrar fees; and (x)&#8239;&#8239;all other reasonable costs and expenses incident to the performance of its obligations
hereunder which are not otherwise specifically provided for in this <U>Section&#8239;&#8239;3.9.1</U>. The Representative may deduct from
the net proceeds of the Offering payable to the Company on the Closing Date, or the Option Closing Date, if any, the expenses set
forth above to be paid by the Company to the Representative, as agreed to by the Company in writing; <I>provided, however</I>, that
such fees and expenses deducted from the net proceeds of the Offering payable to the Company shall not exceed $125,000 in the
aggregate (less any amounts previously paid, it being acknowledged that the Company already paid $25,000, which shall be credited
against the aggregate amount of $100,000).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.9.2
 &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<I><U>Fee on Termination of Offering</U></I>.
Notwithstanding anything contained herein to the contrary, upon termination of the Offering the Company shall: (A)&#8239;&#8239;reimburse
the Representative for, or otherwise pay and bear, the reasonable expenses and fees to be paid and borne by the Company as provided
for in Section&#8239;&#8239;3.9.1 above, as applicable, and (B)&#8239;&#8239;reimburse the Representative for the full amount of its reasonable and
accountable out-of- pocket expenses actually incurred to such date (which shall include, but shall not be limited to, all fees and
disbursements of the Representative&#8217;s counsel, travel, lodging and other &#8220;road show&#8221; expenses, mailing, printing
and reproduction expenses, and any expenses incurred by the Representative in conducting its due diligence, including background
checks of the Company&#8217;s officers and directors), up to an aggregate amount of $50,000, less the amounts previously paid and
any amounts previously paid to the Representative in reimbursement for such expenses. If applicable, and solely in the event of a
termination of this Offering, the Representative shall refund to the Company any portion of the Advance previously received by the
Representative which is in excess of the accountable out-of-pocket expenses actually incurred to such date by the
Representative.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

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

<!-- Field: Page; Sequence: 16 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.10.&#8239;&#8239;<U>Application
of Net Proceeds</U>. The Company will apply the net proceeds from the Offering received by it in a manner consistent with the application
described under the caption &#8220;Use of Proceeds&#8221; in the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.11.&#8239;&#8239;<U>Delivery
of Earnings Statements to Security Holders</U>. The Company will make generally available to its security holders as soon as practicable,
but not later than the first day of the fifteenth (15th) full calendar month following the Effective Date, an earnings statement (which
need not be certified by independent public or independent certified public accountants unless required by the Act or the Regulations,
but which shall satisfy the provisions of Rule&#8239;&#8239;158(a)&#8239;&#8239;under Section&#8239;&#8239;11(a)&#8239;&#8239;of the Act) covering a period of at least
twelve (12) consecutive months beginning after the Effective Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</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">3.12.</TD><TD><U>Notice to FINRA</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.12.1.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Business
Combination</U>. In the event any person or entity (regardless of any FINRA affiliation or association) is engaged to assist the
Company in its search for a merger candidate or to provide any other merger and acquisition services, the Company will provide the
following to the FINRA and the Representative prior to the consummation of the Business Combination: (i)&#8239;&#8239;complete details of
all services and copies of agreements governing such services; and (ii)&#8239;&#8239;justification as to why the person or entity providing
the merger and acquisition services should not be considered an &#8220;underwriter and related person&#8221; (as such term is
defined in Rule&#8239;&#8239;5110 of FINRA&#8217;s Rules) with respect to the Offering. The Company also agrees that proper disclosure of
such arrangement or potential arrangement will be made in any proxy or tender offer statement which the Company files in connection
with the Business Combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">3.12.2.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Broker/Dealer</U>.
In the event the Company intends to register as a broker/dealer, merge with or acquire a registered broker/dealer, or otherwise become
a member of FINRA, it shall promptly notify FINRA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.13.&#8239;&#8239;<U>Stabilization</U>.
Neither the Company, nor, to its knowledge, any of its employees, directors or shareholders (without the consent of the Representative)
has taken or will take, directly or indirectly, any action designed to or that has constituted or that might reasonably be expected to
cause or result in, under the Exchange Act, or otherwise, stabilization or manipulation of the price of any security of the Company to
facilitate the sale or resale of the Units.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.14.&#8239;&#8239;<U>Internal
Controls</U>. The Company will maintain a system of internal accounting controls sufficient to provide reasonable assurances that: (i)&#8239;&#8239;transactions
are executed in accordance with management&#8217;s general or specific authorization; (ii)&#8239;&#8239;transactions are recorded as necessary
in order to permit preparation of financial statements in accordance with generally accepted accounting principles and to maintain accountability
for assets;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(iii)&#8239;&#8239;access to assets is permitted only
in accordance with management&#8217;s general or specific authorization; and (iv)&#8239;&#8239;the recorded accountability for assets is compared
with existing assets at reasonable intervals and appropriate action is taken with respect to any differences.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.15.&#8239;&#8239;<U>Accountants</U>.
For a period of five years from the Effective Date or until such earlier time upon which the Company is required to be liquidated, the
Company shall retain WWC or other independent public accountants reasonably acceptable to the Representative.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.16.&#8239;&#8239;<U>Form&#8239;&#8239;8-K</U>.
The Company shall, on the date hereof, retain its independent public accountants to audit the financial statements of the Company as of
the Closing Date (the &#8220;<B>Audited Financial Statements</B>&#8221;) reflecting the receipt by the Company of the proceeds of the
Offering and the Private Placement, as well as the proceeds from the exercise of the Over-Allotment if such exercise has occurred on the
date of the Prospectus. Within four Business Days of the Closing Date, the Company will file a Current Report on Form&#8239;&#8239;8-K with the
Commission, which Report shall contain the Audited Financial Statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

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

<!-- Field: Page; Sequence: 17 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.17.&#8239;&#8239;<U>FINRA</U>.
The Company shall advise FINRA if it is aware that any 10% or greater shareholder of the Company becomes an affiliate or associated person
of a FINRA member participating in the distribution of the Company&#8217;s Public Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.18.&#8239;&#8239;<U>Corporate
Proceedings</U>. All corporate proceedings and other legal matters necessary to carry out the provisions of this Agreement and the transactions
contemplated hereby shall have been done to the reasonable satisfaction of counsel for the Underwriters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.19.&#8239;&#8239;<U>Investment
Company</U>. The Company shall cause the proceeds of the Offering to be held in the Trust Account to be invested only in &#8220;government
securities&#8221; with specific maturity dates or in money market funds meeting certain conditions under Rule&#8239;&#8239;2a-7 promulgated under
the Investment Company Act as set forth in the Trust Agreement and disclosed in the Prospectus. The Company will otherwise conduct its
business in a manner so that it will not become subject to the Investment Company Act. Furthermore, once the Company consummates a Business
Combination, it will be engaged in a business other than that of investing, reinvesting, owning, holding or trading securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.20.&#8239;&#8239;<U>Business
Combination Announcement</U>. Within four (4)&#8239;&#8239;Business Days following the consummation by the Company of a Business Combination,
the Company shall cause an announcement (&#8220;<B>Business Combination Announcement&#8221;</B>) to be issued announcing the consummation
of the Business Combination and indicating that the Representative was one of the co-managing underwriters in the Offering and also indicating
the name and location of any other financial advisors engaged by the Company as its merger and acquisitions advisor. The Company shall
supply the Representative with a draft of the Business Combination Announcement and provide the Representative with a reasonable advance
opportunity to comment thereon. The Company will not issue the Business Combination Announcement without the final approval of the Representative,
which approval shall not be unreasonably withheld.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.21.&#8239;&#8239;<U>Press
Releases</U>. The Company agrees that it will not issue press releases or engage in any other publicity, without Maxim&#8217;s prior
written consent (not to be unreasonably withheld), for a period of forty five (45) days from the Effective Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.22.&#8239;&#8239;<U>Electronic
Prospectus</U>. The Company shall cause to be prepared and delivered to the Representative, at its expense, within one (1)&#8239;&#8239;Business
Day from the Effective Date, an Electronic Prospectus to be used by the Underwriters in connection with the Offering. As used herein,
the term &#8220;<B>Electronic Prospectus</B>&#8221; means a form of prospectus, and any amendment or supplement thereto, that meets each
of the following conditions: (i)&#8239;&#8239;it shall be encoded in an electronic format, satisfactory to the Representative, that may be transmitted
electronically by the other Underwriters to offerees and purchasers of the Units for at least the period during which a Prospectus relating
to the Units is required to be delivered under the Act; (ii)&#8239;&#8239;it shall disclose the same information as the paper prospectus and
prospectus filed pursuant to EDGAR, except to the extent that graphic and image material cannot be disseminated electronically, in which
case such graphic and image material shall be replaced in the electronic prospectus with a fair and accurate narrative description or
tabular representation of such material, as appropriate; and (iii)&#8239;&#8239;it shall be in or convertible into a paper format or an electronic
format, satisfactory to the Representative, that will allow recipients thereof to store and have continuously ready access to the prospectus
at any future time, without charge to such recipients (other than any fee charged for subscription to the Internet as a whole and for
on- line time). The Company hereby confirms that it has included or will include in the Prospectus filed pursuant to EDGAR or otherwise
with the Commission and in the Registration Statement at the time it was declared effective an undertaking that, upon receipt of a request
by an investor or his or her representative within the period when a prospectus relating to the Units is required to be delivered under
the Act, the Company shall transmit or cause to be transmitted promptly, without charge, a paper copy of the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.23.&#8239;&#8239;<U>Reservation
of Shares</U>. The Company will reserve and keep available that maximum number of its authorized but unissued securities which are underlying
the Placement Securities and the Additional Placement Securities outstanding from time to time.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.24.&#8239;&#8239;<U>Private
Placement Proceeds</U>. Immediately upon establishment of the Trust Account and prior to the Closing, the Company shall deposit all of
the proceeds from the Private Placement in the Trust Account and shall provide the Representative with evidence of the same.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

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

<!-- Field: Page; Sequence: 18 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</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">3.25.</TD><TD><U>No Amendment to Memorandum and Articles of Association</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(i)&#8239;&#8239;&#8239;&#8239;Prior
to the closing of a Business Combination, the Company covenants and agrees it will not seek to amend or modify its Memorandum and Articles
of Association without the prior approval of its Board of Directors and the affirmative vote of a majority of the voting power of the
Class&#8239;&#8239;A Ordinary Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(ii)&#8239;&#8239;&#8239;&#8239;The
Company acknowledges that the purchasers of the Units in this Offering shall be deemed to be third party beneficiaries of this <U>Section&#8239;&#8239;3.25</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(iii)&#8239;&#8239;&#8239;&#8239;The
Representative and the Company specifically agree that this <U>Section&#8239;&#8239;3.25</U> shall not be modified or amended in any way without
the approval of at least a majority of the voting power of the Class&#8239;&#8239;A Ordinary Shares that were issued in the Offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.26.&#8239;&#8239;<U>Financial
Printer</U>. The Company shall retain a financial printer, reasonably acceptable to the Representative, for the purpose of facilitating
the Company&#8217;s EDGAR filings and the printing of the Preliminary Prospectus and Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.27.&#8239;&#8239;<U>Listing
on the Nasdaq Capital Market</U>. The Company will use commercially reasonable efforts to maintain the listing of the Public Securities
on the Nasdaq Capital Market or such other national securities exchange until the earlier of five (5)&#8239;&#8239;years from the Effective Date
or until the Public Securities are no longer registered under the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.28.&#8239;&#8239;<U>Right
of First Refusal</U>. The Company agrees that if the Firm Units are sold in accordance with the terms of this Underwriting Agreement,
the Company shall grant Representative the right of first refusal to act as sole underwriter and sole book-running manager or sole placement
agent, as applicable, for any and all future public and private equity, convertible, equity linked and debt offerings of the Company,
or any successor to or any subsidiary of the Company. The Company shall not offer to retain any entity or person in connection with any
such offering on terms more favorable than terms on which it offers to retain Maxim. Such offer shall be made in writing in order to be
effective. Notwithstanding the foregoing, in the event that the Company completes a private placement of public equity (a &#8220;PIPE&#8221;)
in connection with a proposed Business Combination and the target company directly sources capital in connection with such PIPE (exclusive
of any investors previously introduced to the Company by Maxim in connection with the Offering contemplated by this Agreement), then Maxim
will not receive a fee on any proceeds received from any investors directly introduced by the target company in connection with the PIPE.
The right of refusal shall encompass the time period leading up to the closing of the Business Combination and shall terminate on the
earlier of the twelve (12) month anniversary of the closing of a Business Combination or the three year anniversary of the commencement
of sales in the Offering. If the Representative fails to accept such written offer within eight (8)&#8239;&#8239;Business Days after the mailing
of a notice containing the material terms of the proposed financing by either: (i)&#8239;&#8239;overnight courier service addressed to the Representative;
or (ii)&#8239;&#8239;email notice acknowledged by the recipient, then the Representative shall have no further claim or right with respect to
the financing proposal contained in such notice. If, however, the terms of such financing proposal are subsequently modified in any material
respect, the preferential right referred to herein shall apply to such modified proposal as if the original proposal had not been made.
The Representative&#8217;s failure to exercise its preferential right with respect to any particular proposal shall not affect its preferential
rights relative to future proposals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.29.&#8239;&#8239;<U>Tail
fee</U>. If, within twelve (12) months following the Closing, the Company completes any financing of equity, equity-linked, convertible
or debt securities, or other capital raising activity (other than the exercise by any person or entity of any options, warrants or other
convertible securities) with any of the investors to whom a prospectus was sent, any investor who invested in the Offering or any investor
that was introduced to the Company by Maxim in connection with the Offering, then the Company will pay to Maxim 5.5% of the gross proceeds
received from such investors upon the closing of such offering. Notwithstanding the foregoing, in the event that the Company completes
a PIPE in connection with a proposed Business Combination, and the target company, the Sponsor and/or the Company directly sources capital
in connection with such PIPE (exclusive of any investors previously introduced to the Company by Maxim in connection with the Offering),
Maxim will not receive a fee on any proceeds received from any investors directly introduced by the target company, the Sponsor and/or
the Company in connection with the PIPE.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

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

<!-- Field: Page; Sequence: 19 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">4.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Conditions
of Underwriters&#8217; Obligations</U>. The obligations of the several Underwriters to purchase and pay for the Units, as provided herein,
shall be subject to the continuing accuracy of the representations and warranties of the Company as of the date hereof and as of each
of the Closing Date and the Option Closing Date, if any, to the accuracy of the statements of officers of the Company made pursuant to
the provisions hereof and to the performance by the Company of its obligations hereunder and to the following conditions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</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">4.1</TD><TD>&nbsp;<U>Regulatory Matters</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.1.1.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Effectiveness
of Registration Statement</U>. The Registration Statement shall have become effective not later than 5:00 P.M., New York time, on the
date of this Agreement or such later date and time as shall be consented to in writing by the Representative, and, at each of the Closing
Date and the Option Closing Date, no stop order suspending the effectiveness of the Registration Statement shall have been issued and
no proceedings for the purpose shall have been instituted or shall be pending or contemplated by the Commission and any request on the
part of the Commission for additional information shall have been complied with to the reasonable satisfaction of ArentFox Schiff LLP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.1.2.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>FINRA
Clearance</U>. By the Effective Date, the Representative shall have received a notice of no objection from FINRA as to the terms and arrangements
for acting as, and the amount of compensation allowable or payable to, the Underwriters as described in the Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.1.3.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>No
Commission Stop Order</U>. At each of the Closing Date and the Option Closing Date, the Commission has not issued any order or threatened
to issue any order preventing or suspending the use of any Preliminary Prospectus or the Prospectus or any part thereof, and has not instituted
or threatened to institute any proceedings with respect to such an order.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.1.4.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>No
Blue Sky Stop Orders</U>. No order suspending the sale of the Units in any jurisdiction designated by the Representative pursuant to <U>Section&#8239;&#8239;3.3</U>
hereof, if any, shall have been issued on either the Closing Date or the Option Closing Date, and no proceedings for that purpose shall
have been instituted or shall be contemplated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.1.5.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>The
Nasdaq Capital Market</U>. By the Effective Date, the Securities shall have been approved for trading on the Nasdaq Capital Market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</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">4.2.</TD><TD>&nbsp;<U>Company Counsel Matters</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.2.1.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Closing
Date Opinion of Counsel</U>. On the Closing Date, the Representative shall have received the favorable opinion of Loeb&#8239;&#8239;&amp; Loeb
LLP (&#8220;<B>Loeb</B>&#8221;), U.S. counsel to the Company, and Ogiers, BVI counsel to the Company, dated the Closing Date, addressed
to the Representative and the other Underwriters and in form and substance reasonably satisfactory to the Representative.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The opinion of Loeb shall further
include a statement to the effect that such counsel has participated in conferences with officers and other representatives of the Company,
representatives of the independent public accountants for the Company and representatives of the Underwriters at which the contents of
the Registration Statement, final Preliminary Prospectus, the Prospectus and related matters were discussed and although such counsel
is not passing upon and does not assume any responsibility for the accuracy, completeness or fairness of the statements contained in the
Registration Statement, final Preliminary Prospectus and the Prospectus (except as otherwise set forth in such opinion), no facts have
come to the attention of such counsel which lead them to believe that either the Registration Statement, final Preliminary Prospectus
or the Prospectus or any amendment or supplement thereto, as of the date of such opinion contained any untrue statement of a material
fact or omitted to state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances
under which they were made, not misleading (it being understood that such counsel need express no opinion with respect to the financial
statements and related notes and schedules and other financial and statistical data included in the Registration Statement, final Preliminary
Prospectus or the Prospectus or matters relating to the sale of securities in any jurisdiction outside the U.S.).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

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

<!-- Field: Page; Sequence: 20 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.2.2.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Option
Closing Date Opinion of Counsel</U>. On each Option Closing Date, if any, the Representative shall have received the favorable opinions
of Loeb and Ogier, dated each Option Closing Date, addressed to the Representative and in form and substance reasonably satisfactory to
counsel to the Representative, confirming as of each Option Closing Date, the statements made by Loeb and Ogier, as applicable, in its
opinion delivered on the Closing Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.2.3.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Reliance</U>.
In rendering such opinions, such counsels may rely: (i)&#8239;&#8239;as to matters involving the application of laws other than the laws of the
United States and jurisdictions in which they are admitted, to the extent such counsel deems proper and to the extent specified in such
opinion, if at all, upon an opinion or opinions (in form and substance reasonably satisfactory to the Representative) of other counsel
reasonably acceptable to the Representative, familiar with the applicable laws; and (ii)&#8239;&#8239;as to matters of fact, to the extent they
deem proper, on certificates or other written statements of officers of the Company and officers of departments of various jurisdictions
having custody of documents respecting the corporate existence or good standing of the Company, provided that copies of any such statements
or certificates shall be delivered to the Underwriters&#8217; counsel if requested. The opinions of Loeb and Ogier and any opinion relied
upon by such counsel for the Company shall include a statement to the effect that it may be relied upon by counsel for the Underwriters
in its opinion delivered to the Underwriters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.3.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Cold
Comfort Letter</U>. At the time this Agreement is executed, and at each of the Closing Date and the Option Closing Date, if any, the
Representative shall have received a letter, addressed to the Representative and in form and substance satisfactory in all respects (including
the nature of the changes or decreases, if any, referred to in clause (iii)&#8239;&#8239;below) to the Representative from WWC dated, respectively,
as of the date of this Agreement and as of the Closing Date and the Option Closing Date, if any:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(i)&#8239;&#8239;&#8239;&#8239;Confirming
that they are an independent registered public accounting firm with respect to the Company within the meaning of the Act and the applicable
Regulations;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(ii)&#8239;&#8239;&#8239;&#8239;Stating
that in their opinion the financial statements of the Company included in the Registration Statement, the Preliminary Prospectus and the
Prospectus comply as to form in all material respects with the applicable accounting requirements of the Act and the Regulations thereunder;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">
(iii)&#8239;&#8239;&#8239;&#8239;Stating that, on the basis of limited procedures which included a reading of the latest available
minutes of the shareholders and board of directors and the various committees of the board of directors, consultations with officers
and other employees of the Company responsible for financial and accounting matters and other specified procedures and inquiries,
nothing has come to their attention which would lead them to believe that: (a)&#8239;&#8239;at a date not later than five
(5)&#8239;&#8239;days prior to the Effective Date, Closing Date or Option Closing Date, as the case may be, there was any change in
the share capital or long-term debt of the Company, other than as set forth in or contemplated by the Registration Statement, the
Preliminary Prospectus and the Prospectus, or, if there was any decrease, setting forth the amount of such decrease; and
(c)&#8239;&#8239;during the period from December&#8239;&#8239;31, 2023 (balance sheet date) to a specified date not later than five
(5)&#8239;&#8239;days prior to the Effective Date, Closing Date or Option Closing Date, as the case may be, there was any decrease
in net earnings or net earnings per Class&#8239;&#8239;A Ordinary Share, in each case as compared with Statement of Operations for
the periods as of December&#8239;&#8239;31, 2023 and 2022 and the Prospectus, or, if there was any such decrease, setting forth the
amount of such decrease;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(iv)&#8239;&#8239;&#8239;&#8239;Stating
they have compared specific dollar amounts, numbers of shares, percentages of earnings, statements and other financial information pertaining
to the Company set forth in the Registration Statement, the Preliminary Prospectus and the Prospectus in each case to the extent that
such amounts, numbers, percentages, statements and information may be derived from the general accounting records, including work sheets,
of the Company and excluding any questions requiring an interpretation by legal counsel, with the results obtained from the application
of specified readings, inquiries and other appropriate procedures (which procedures do not constitute an examination in accordance with
the standards of the PCAOB) set forth in the letter and found them to be in agreement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(v)&#8239;&#8239;&#8239;&#8239;Statements
as to such other matters incident to the transaction contemplated hereby as the Representative may reasonably request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

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

<!-- Field: Page; Sequence: 21 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</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">4.4.</TD><TD>&nbsp;<U>Officers&#8217; Certificates</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.4.1.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Officers&#8217;
Certificate</U>. At each of the Closing Date and the Option Closing Date, if any, the Representative shall have received a certificate
of the Company signed by the Chief Executive Officer or the President and the Secretary or Assistant Secretary of the Company, dated the
Closing Date or the Option Closing Date, as the case may be, to the effect that the Company has performed all covenants and complied with
all conditions required by this Agreement to be performed or complied with by the Company prior to and as of the Closing Date, or the
Option Closing Date, as the case may be, and that the conditions set forth in <U>Section&#8239;&#8239;4.5</U> hereof have been satisfied as of
such date and that, as of Closing Date and the Option Closing Date, as the case may be, the representations and warranties of the Company
set forth in <U>Section&#8239;&#8239;2</U> hereof are true and correct. In addition, the Representative will have received such other and further
certificates of officers of the Company as the Representative may reasonably request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.4.2.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Secretary&#8217;s
Certificate</U>. At each of the Closing Date and the Option Closing Date, if any, the Representative shall have received a certificate
of the Company signed by the Secretary or Assistant Secretary of the Company, dated the Closing Date or the Option Closing Date, as the
case may be, respectively, certifying: (i)&#8239;&#8239;that the Memorandum and Articles of Association of the Company filed as an exhibit to
the Registration Statement is true and complete, has not been modified and is in full force and effect; (ii)&#8239;&#8239;that the board resolutions
relating to the Offering are in full force and effect and have not been modified; (iii)&#8239;&#8239;all correspondence between the Company or
its counsel and the Commission; (iv)&#8239;&#8239;all correspondence between the Company or its counsel and the Nasdaq Stock Market; and (v)&#8239;&#8239;as
to the incumbency of the officers of the Company. The documents referred to in such certificate shall be attached to such certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.5.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>No
Material Changes</U>. Prior to and on each of the Closing Date and the Option Closing Date, if any: (i)&#8239;&#8239;there shall have been no
material adverse change or development that is likely to result in a material adverse change in the condition or prospects or the business
activities, financial or otherwise, of the Company from the latest dates as of which such condition is set forth in the Registration
Statement and Prospectus; (ii)&#8239;&#8239;no action suit or proceeding, at law or in equity, shall have been pending or threatened against
the Company or any Initial Shareholder before or by any court or federal or state commission, board or other administrative agency wherein
an unfavorable decision, ruling or finding may materially adversely affect the business, operations, prospects or financial condition
or income of the Company, except as set forth in the Registration Statement, the Preliminary Prospectus and Prospectus; (iii)&#8239;&#8239;no
stop order shall have been issued under the Act and no proceedings therefor shall have been initiated or threatened by the Commission;
and (iv)&#8239;&#8239;the Registration Statement, the Preliminary Prospectus and the Prospectus and any amendments or supplements thereto shall
contain all material statements which are required to be stated therein in accordance with the Act and the Regulations and shall conform
in all material respects to the requirements of the Act and the Regulations, and neither the Registration Statement, the Preliminary
Prospectus nor the Prospectus nor any amendment or supplement thereto shall contain any untrue statement of a material fact or omit to
state any material fact required to be stated therein or necessary to make the statements therein (in the case of the Prospectus, in
light of the circumstances under which they were made), not misleading.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</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">4.6.</TD><TD>&nbsp;<U>Delivery of Agreements</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.6.1.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Effective
Date Deliveries</U>. On the Effective Date, the Company shall have delivered to the Representative executed copies of the Trust Agreement,
the Rights Agreement, the Registration Rights Agreement, all of the Insider Letters and the Subscription Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">4.6.2.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Closing
Date Deliveries</U>. On the Closing Date, the Company shall deliver to Maxim book- entry confirmation representing the Issuance Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

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

<!-- Field: Page; Sequence: 22 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</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: 0.2pt"></TD><TD STYLE="width: 17.9pt">5.</TD><TD>&nbsp;<U>Indemnification</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</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">5.1.</TD><TD>&nbsp;<U>Indemnification of Underwriters</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">5.1.1.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>General</U>.
Subject to the conditions set forth below, the Company agrees to indemnify and hold harmless each of the Underwriters and each
dealer selected by the Representative that participates in the offer and sale of the Units (each a &#8220;<B>Selected
Dealer</B>&#8221;) and each of their respective directors, officers and employees and each person, if any, who controls any such
Underwriter (&#8220;<B>Controlling Person</B>&#8221;) within the meaning of Section&#8239;&#8239;15 of the Act or Section&#8239;&#8239;20(a)&#8239;&#8239;of
the Exchange Act, against any and all loss, liability, claim, damage and expense whatsoever (including but not limited to any and
all legal or other expenses reasonably incurred in investigating, preparing or defending against any litigation, commenced or
threatened, or any claim whatsoever, whether arising out of any action between any of the Underwriters and the Company or between
any of the Underwriters and any third party or otherwise) to which they or any of them may become subject under the Act, the
Exchange Act or any other federal, state or local statute, law, rule, regulation or ordinance or at common law or otherwise or under
the laws, rules&#8239;&#8239;and regulation of foreign countries, arising out of or based upon any untrue statement or alleged untrue
statement of a material fact contained in: (i)&#8239;&#8239;any Preliminary Prospectus, the Registration Statement, or the Prospectus (as
from time to time each may be amended and supplemented); (ii)&#8239;&#8239;in any post-effective amendment or amendments or any new
registration statement and prospectus in which is included securities of the Company; or (iii)&#8239;&#8239;any application or other
document or written communication (in this Section&#8239;&#8239;5, collectively called &#8220;<B>Application</B>&#8221;) executed by the
Company or based upon written information furnished by the Company in any jurisdiction in order to qualify the Units under the
securities laws thereof or filed with the Commission, any state securities commission or agency, the Nasdaq Stock Market or any
securities exchange; or the omission or alleged omission therefrom of a material fact required to be stated therein or necessary to
make the statements therein, in the light of the circumstances under which they were made, not misleading, unless such statement or
omission was made in reliance upon and in conformity with written information furnished to the Company with respect to an
Underwriter by or on behalf of such Underwriter expressly for use in any Preliminary Prospectus, the Registration Statement, or the
Prospectus, or any amendment or supplement thereof. With respect to any untrue statement or omission or alleged untrue statement or
omission made in the Preliminary Prospectus, the indemnity agreement contained in this paragraph shall not inure to the benefit of
any Underwriter to the extent that any loss, liability, claim, damage or expense of such Underwriter results from the fact that a
copy of the Prospectus was not given or sent to the person asserting any such loss, liability, claim or damage at or prior to the
written confirmation of sale of the Securities to such person as required by the Act and the Regulations, and if the untrue
statement or omission has been corrected in the Prospectus, unless such failure to deliver the Prospectus was a result of
non-compliance by the Company with its obligations under <U>Section&#8239;&#8239;3.4</U> hereof. The Company agrees to promptly notify the
Representative of the commencement of any litigation or proceedings against the Company or any of its officers, directors or
Controlling Persons in connection with the issue and sale of the Securities or in connection with the Preliminary Prospectus, the
Registration Statement, or the Prospectus. For purposes of this Section&#8239;&#8239;5, the term Underwriter or Underwriters shall refer to
each Underwriter whether acting as an underwriter or as a qualified independent underwriter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">5.1.2.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Procedure</U>.
If any action is brought against an Underwriter or Controlling Person in respect of which indemnity may be sought against the Company
pursuant to <U>Section&#8239;&#8239;5.1.1</U>, such Underwriter shall promptly notify the Company in writing of the institution of such action
and the Company shall assume the defense of such action, including the employment and fees of counsel (subject to the reasonable approval
of such Underwriter) and payment of actual expenses. Such Underwriter or Controlling Person shall have the right to employ its or their
own counsel in any such case, but the fees and expenses of such counsel shall be at the expense of such Underwriter or such Controlling
Person unless: (i)&#8239;&#8239;the employment of such counsel at the expense of the Company shall have been authorized in writing by the Company
in connection with the defense of such action within reasonable time under the circumstances; (ii)&#8239;&#8239;the Company shall not have employed
counsel to have charge of the defense of such action; or (iii)&#8239;&#8239;such indemnified party or parties shall have reasonably concluded
that there may be defenses available to it or them which are different from or additional to those available to the Company (in which
case the Company shall not have the right to direct the defense of such action on behalf of the indemnified party or parties), in any
of which events the reasonable fees and expenses of not more than one additional firm of attorneys (together with local counsel) selected
by the Underwriter and/or Controlling Person shall be borne by the Company. If the Underwriter or Controlling Person employs its own counsel
pursuant to the provisions of (i)-(iii)&#8239;&#8239;in the preceding sentence, then the Company agrees to advance, or at the option of the Underwriters
or any Controlling Person reimburse, each Underwriter or Controlling Person for all reasonable and customary expenses as they are incurred
in connection with such person&#8217;s enforcement of his, her or its rights under this Agreement. Notwithstanding anything to the contrary
contained herein, if the Underwriter or Controlling Person shall assume the defense of such action as provided above, the Company shall
have the right to approve the terms of any settlement of such action which approval shall not be unreasonably withheld.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

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

<!-- Field: Page; Sequence: 23 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.2.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Indemnification
of the Company</U>. Each Underwriter, severally and not jointly, agrees to indemnify and hold harmless the Company, its directors, officers
and employees and agents who control the Company within the meaning of Section&#8239;&#8239;15 of the Act or Section&#8239;&#8239;20 of the Exchange
Act against any and all loss, liability, claim, damage and expense described in the foregoing indemnity from the Company to the several
Underwriters, as incurred, but only with respect to untrue statements or omissions, or alleged untrue statements or omissions made in
any Preliminary Prospectus, the Registration Statement, or the Prospectus, or any amendment or supplement thereto, or in any Application,
in reliance upon, and in strict conformity with, written information furnished to the Company with respect to such Underwriter by or
on behalf of the Underwriter expressly for use in such Preliminary Prospectus, the Registration Statement, or the Prospectus, or any
amendment or supplement thereto or in any such Application, which furnished written information, it is expressly agreed, consists solely
of the information described in the last sentence of <U>Section&#8239;&#8239;2.3.1</U>. In case any action shall be brought against the Company
or any other person so indemnified based on any Preliminary Prospectus, the Registration Statement, or the Prospectus, or any amendment
or supplement thereto or any Application, and in respect of which indemnity may be sought against any Underwriter, such Underwriter shall
have the rights and duties given to the Company, and the Company and each other person so indemnified shall have the rights and duties
given to the several Underwriters by the provisions of Section&#8239;&#8239;5.1.2.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</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: Times New Roman, Times, Serif; font-size: 10pt">5.3.</FONT></TD><TD>&nbsp;Contribution.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">5.3.1.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Contribution
Rights</U>. In order to provide for just and equitable contribution under the Act in any case in which: (i)&#8239;&#8239;any person entitled to
indemnification under this Section&#8239;&#8239;5 makes a claim for indemnification pursuant hereto but it is judicially determined (by the entry
of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or the denial of the last right
of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section&#8239;&#8239;5 provides for indemnification
in such case; or (ii)&#8239;&#8239;contribution under the Act, the Exchange Act or otherwise may be required on the part of any such person in
circumstances for which indemnification is provided under this Section&#8239;&#8239;5, then, and in each such case, the Company and the Underwriters
shall contribute to the aggregate losses, liabilities, claims, damages and expenses of the nature contemplated by said indemnity agreement
incurred by the Company and the Underwriters, as incurred, in such proportions that the Underwriters are responsible for that portion
represented by the percentage that the underwriting discount appearing on the cover page&#8239;&#8239;of the Prospectus bears to the initial offering
price appearing thereon and the Company is responsible for the balance; <I>provided</I>, that, no person guilty of a fraudulent misrepresentation
(within the meaning of Section&#8239;&#8239;11(f)&#8239;&#8239;of the Act) shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation. Notwithstanding the provisions of this Section&#8239;&#8239;5.3.1, no Underwriter shall be required to contribute
any amount in excess of the amount by which the total price at which the Public Securities underwritten by it and distributed to the public
were offered to the public exceeds the amount of any damages that such Underwriter has otherwise been required to pay in respect of such
losses, liabilities, claims, damages and expenses, and no person found guilty of fraudulent misrepresentation (within the meaning of Section&#8239;&#8239;11(f)&#8239;&#8239;of
the Securities Act) will be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. For purposes
of this Section, each director, officer and employee of an Underwriter or the Company, as applicable, and each person, if any, who controls
an Underwriter or the Company, as applicable, within the meaning of Section&#8239;&#8239;15 of the Act shall have the same rights to contribution
as the Underwriters or the Company, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">5.3.2.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Contribution
Procedure</U>. Within fifteen (15) days after receipt by any party to this Agreement (or its representative) of notice of the
commencement of any action, suit or proceeding, such party will, if a claim for contribution in respect thereof is to be made
against another party (&#8220;<B>Contributing Party</B>&#8221;), notify the Contributing Party of the commencement thereof, but the
omission to so notify the Contributing Party will not relieve it from any liability which it may have to any other party other than
for contribution hereunder. In case any such action, suit or proceeding is brought against any party, and such party notifies a
Contributing Party or its representative of the commencement thereof within the aforesaid fifteen (15) days, the Contributing Party
will be entitled to participate therein with the notifying party and any other Contributing Party similarly notified. Any such
Contributing Party shall not be liable to any party seeking contribution on account of any settlement of any claim, action or
proceeding effected by such party seeking contribution on account of any settlement of any claim, action or proceeding effected by
such party seeking contribution without the written consent of such Contributing Party. The contribution provisions contained in
this Section&#8239;&#8239;are intended to supersede, to the extent permitted by law, any right to contribution under the Act, the Exchange
Act or otherwise available. The Underwriters&#8217; obligations to contribute pursuant to this <U>Section&#8239;&#8239;5.3</U> are several
and not joint.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

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

<!-- Field: Page; Sequence: 24 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</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: 0.2pt"></TD><TD STYLE="width: 17.9pt">6.</TD><TD>&nbsp;<U>Default by an Underwriter</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.1.&#8239;&#8239;&#8239;&#8239;<U>Default
Not Exceeding 10% of Firm Units or Option Units</U>. If any Underwriter or Underwriters shall default in its or their obligations to
purchase the Firm Units or the Option Units, if the Over-allotment Option is exercised, hereunder, and if the number of the Firm Units
or Option Units with respect to which such default relates does not exceed in the aggregate 10% of the number of Firm Units or Option
Units that all Underwriters have agreed to purchase hereunder, then such Firm Units or Option Units to which the default relates shall
be purchased by the non-defaulting Underwriters in proportion to their respective commitments hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.2.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Default
Exceeding 10% of Firm Units or Option Units</U>. In the event that the default addressed in <U>Section&#8239;&#8239;6.1</U> above relates to
more than 10% of the Firm Units or Option Units, the Representative may in its discretion arrange for itself or for another party or
parties to purchase such Firm Units or Option Units to which such default relates on the terms contained herein. If, within one (1)&#8239;&#8239;Business
Day after such default relating to more than 10% of the Firm Units or Option Units, the Representative does not arrange for the purchase
of such Firm Units or Option Units, then the Company shall be entitled to a further period of one (1)&#8239;&#8239;Business Day within which
to procure another party or parties satisfactory to the Company and the Representative to purchase said Firm Units or Option Units on
such terms. In the event the Representative does not arrange for the purchase of the Firm Units or Option Units to which a default relates
as provided in this Section&#8239;&#8239;6, this Agreement may be terminated by the Company without liability on the part of the Company (except
as provided in <U>Sections 3.9</U> and <U>5</U> hereof) or the several Underwriters (except as provided in <U>Section&#8239;&#8239;5</U> hereof);
<I>provided</I>, <I>however</I>, that if such default occurs with respect to the Option Units, this Agreement will not terminate as to
the Firm Units; and <I>provided further </I>that nothing herein shall relieve a defaulting Underwriter of its liability, if any, to the
other several Underwriters and to the Company for damages occasioned by its default hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.3.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Postponement
of Closing Date</U>. In the event the Firm Units or Option Units to which the default relates are to be purchased by the non-defaulting
Underwriters, or are to be purchased by another party or parties as aforesaid, the Representative or the Company shall have the right
to postpone the Closing Date or Option Closing Date for a reasonable period, but not in any event exceeding five (5)&#8239;&#8239;Business Days,
in order to effect whatever changes may thereby be made necessary in the Registration Statement, the Preliminary Prospectus and/or the
Prospectus, as the case may be, or in any other documents and arrangements, and the Company agrees to file promptly any amendment to,
or to supplement, the Registration Statement, the Preliminary Prospectus and/or the Prospectus, as the case may be, that in the opinion
of counsel for the Underwriters may thereby be made necessary. The term &#8220;Underwriter&#8221; as used in this Agreement shall include
any party substituted under this Section&#8239;&#8239;6 with like effect as if it had originally been a party to this Agreement with respect
to such Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</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: 36.2pt"></TD><TD STYLE="width: 17.9pt">7.</TD><TD>&nbsp;<U>Additional Covenants</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.1.&#8239;&#8239;&#8239;&#8239;<U>Additional
Shares or Options</U>. The Company hereby agrees that until the Company consummates a Business Combination, it shall not issue any Class&#8239;&#8239;A
Ordinary Shares or any options or other securities convertible into Class&#8239;&#8239;A Ordinary Shares, or any class of shares which participate
in any manner in the Trust Account or which vote as a class with the Class&#8239;&#8239;A Ordinary Shares on a Business Combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

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

<!-- Field: Page; Sequence: 25 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.2.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Trust
Account Waiver Acknowledgments</U>. The Company hereby agrees that it will not commence its due diligence investigation of any
operating business or businesses which the Company seeks to acquire (each, a &#8220;<B>Target Business</B>&#8221;) unless and until
such Target Business acknowledges in writing, whether through a letter of intent, memorandum of understanding or other similar
document (and subsequently acknowledges the same in any definitive document replacing any of the foregoing), that: (i)&#8239;&#8239;it has
read the Prospectus and understands that the Company has established the Trust Account, initially in an amount of $55,000,000 (or
$63,250,000 if the Over- allotment Option is exercised in full) for the benefit of the public shareholders, and that (ii)&#8239;&#8239;for
and in consideration of the Company agreeing to evaluate such Target Business for purposes of consummating a Business Combination
with it, such Target Business agrees that it does not have any right, title, interest or claim of any kind in or to any monies of
the Trust Account (&#8220;<B>Claim</B>&#8221;) and waives any Claim it may have in the future as a result of, or arising out of, any
negotiations, contracts or agreements with the Company and will not seek recourse against the Trust Account for any reason
whatsoever. The Company further agrees that it will use all reasonable efforts, prior to obtaining the services of any vendor, to
obtain a written acknowledgment from such vendor, whether through a letter of intent, memorandum of understanding or other similar
document (and subsequently acknowledges the same in any definitive document replacing any of the foregoing), that: (i)&#8239;&#8239;such
vendor has read the Prospectus and understands that the Company has established the Trust Account, initially in an amount of
$55,000,000 (or $63,250,000 if the Over-allotment Option is exercised in full) for the benefit of the public shareholders, and that
(ii)&#8239;&#8239;for and in consideration of the Company agreeing to engage the services of the vendor, such vendor agrees that it does not
have any Claim and waives any Claim it may have in the future as a result of, or arising out of, any negotiations, contracts or
agreements with the Company and will not seek recourse against the Trust Account for any reason whatsoever. The foregoing letters
shall substantially be in the form attached hereto as <U>Exhibit&#8239;&#8239;A</U> and <U>B</U>, respectively. Furthermore, each officer
and director of the Company shall execute a waiver letter in the form attached hereto as <U>Exhibit&#8239;&#8239;C</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.3.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Insider
Letters</U>. The Company shall not take any action or omit to take any action which would cause a breach of any of the Insider Letters
executed between each of the Company&#8217;s officers, directors and Initial Shareholders or the Subscription Agreement and will not allow
any amendments to, or waivers of, such Insider Letters or the Subscription Agreement without the prior written consent of the Representative,
which consent shall not be unreasonably withheld.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.4.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Memorandum
and Articles of Association</U>. The Company shall not take any action or omit to take any action that would cause the Company to be
in material breach or violation of its Memorandum and Articles of Association. Except as provided in <U>Section&#8239;&#8239;3.25</U>, prior
to the consummation of a Business Combination, the Company will not amend its Memorandum and Articles of Association, without the prior
written consent of the Representative.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.5.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Tender
Offer Documents, Proxy Materials and Other Information</U>. The Company shall provide counsel to the Representative with copies of all
tender offer documents or proxy information and all related material filed with the Commission in connection with a Business Combination
concurrently with such filing with the Commission. Documents filed with the Commission pursuant to its EDGAR system shall be deemed to
have been provided to the Representative pursuant to this Section. In addition, the Company shall furnish any other state in which the
Offering was registered, such information as may be requested by such state.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.6.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Acquisition/Liquidation
Procedure</U>. The Company agrees that it will comply with Regulation 24 of its Articles of Association in connection with the consummation
of a Business Combination or the failure to consummate a Business Combination within 12 months from the Effective Date (subject to extension
to up to 18 months as described in the Prospectus).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.7.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Rule&#8239;&#8239;419</U>.
The Company agrees that it will use reasonable efforts to prevent the Company from becoming subject to Rule&#8239;&#8239;419 under the Act prior
to the consummation of any Business Combination, including, but not limited to, using its best efforts to prevent any of the Company&#8217;s
outstanding securities from being deemed to be a &#8220;penny stock&#8221; as defined in Rule&#8239;&#8239;3a51-1 under the Exchange Act during
such period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.8.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Presentation
of Potential Target Businesses</U>. The Company shall cause each of the Initial Shareholders to agree that, in order to minimize potential
conflicts of interest which may arise from multiple affiliations, the Initial Shareholders will present to the Company for its consideration,
prior to presentation to any other person or company, any suitable opportunity to acquire an operating business, until the earlier of
the consummation by the Company of a Business Combination or the liquidation of the Company, subject to any pre-existing fiduciary obligations
the Initial Shareholders might have.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">8.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Representations
and Agreements to Survive Delivery</U>. Except as the context otherwise requires, all representations, warranties and agreements
contained in this Agreement shall be deemed to be representations, warranties and agreements at the Closing Date or the Option
Closing Date, if any, and such representations, warranties and agreements of the Underwriters and the Company, including the
indemnity agreements contained in Section&#8239;&#8239;5 hereof, shall remain operative and in full force and effect regardless of any
investigation made by or on behalf of any Underwriter, the Company or any Controlling Person, and shall survive termination of this
Agreement or the issuance and delivery of the Securities to the several Underwriters until the earlier of the expiration of any
applicable statute of limitations and the seventh anniversary of the later of the Closing Date or the Option Closing Date, if any,
at which time the representations, warranties and agreements shall terminate and be of no further force and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

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

<!-- Field: Page; Sequence: 26 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</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: 0.2pt"></TD><TD STYLE="width: 17.9pt">9.</TD><TD STYLE="text-align: justify">&nbsp;<U>Effective Date of This Agreement and Termination Thereof</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.1.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Effective
Date</U>. This Agreement shall become effective on the Effective Date at the time the Registration Statement is declared effective by
the Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.2.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Termination</U>.
The Representative and Company shall have the right to terminate this Agreement at any time prior to any Closing Date: (i)&#8239;&#8239;if
any domestic or international event or act or occurrence has materially disrupted, or in the Representative and/or the
Company&#8217;s opinion will in the immediate future materially disrupt, general securities markets in the United States; or
(ii)&#8239;&#8239;if trading on the New York Stock Exchange, the NYSE American or the Nasdaq Stock Market shall have been suspended, or
minimum or maximum prices for trading shall have been fixed, or maximum ranges for prices for securities shall have been fixed, or
maximum ranges for prices for securities shall have been required on the over the counter markets or by order of the Commission or
any other government authority having jurisdiction; or (iii)&#8239;&#8239;if the United States shall have become involved in a war or an
initiation or increase in major hostilities, or (iv)&#8239;&#8239;if a banking moratorium has been declared by a New York State or federal
authority, or (v)&#8239;&#8239;if a moratorium on foreign exchange trading has been declared which materially adversely impacts the United
States securities markets; or (vi)&#8239;&#8239;if the Company shall have sustained a material loss by fire, flood, accident, hurricane,
earthquake, theft, sabotage or other calamity or malicious act which, whether or not such loss shall have been insured, will, in the
Representative&#8217;s opinion, make it inadvisable to proceed with the delivery of the Units; or (vii)&#8239;&#8239;if any of the
Company&#8217;s representations, warranties or covenants hereunder are breached; or (viii)&#8239;&#8239;if the Representative shall have
become aware after the date hereof of such a material adverse change in the conditions or prospects of the Company, or such material
adverse change in general market conditions, including, without limitation, as a result of terrorist activities after the date
hereof, as in the Representative&#8217;s judgment would make it impracticable to proceed with the offering, sale and/or delivery of
the Units or to enforce contracts made by the Underwriters for the sale of the Units; (ix)&#8239;&#8239;if the Representative fails to act
in good faith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.3.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Expenses</U>.
In the event this Agreement shall not be carried out for any reason whatsoever, except as a result of the Representative&#8217;s or any
Underwriters&#8217; breach or default with respect to any of its material obligations pursuant to this Agreement, within the time specified
herein or any extensions thereof pursuant to the terms herein, the obligations of the Company to pay the out-of-pocket expenses actually
incurred by the Representative related to the transactions contemplated herein shall be governed by <U>Section&#8239;&#8239;3.9</U> hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.4.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Indemnification</U>.
Notwithstanding any contrary provision contained in this Agreement, any election hereunder or any termination of this Agreement, and whether
or not this Agreement is otherwise carried out, the provisions of Section&#8239;&#8239;5 shall not be in any way affected by such election or
termination or failure to carry out the terms of this Agreement or any part hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</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"></TD><TD STYLE="width: 0.25in">10.</TD><TD STYLE="text-align: justify">&nbsp;<U>Miscellaneous</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.1.&#8239;&#8239;<U>Notices</U>.
All communications hereunder, except as herein otherwise specifically provided, shall be in writing and shall be mailed, delivered by
hand or reputable overnight courier or delivered by email or facsimile transmission (with printed confirmation of receipt), and shall
be deemed given when so mailed, delivered or faxed or transmitted (or if mailed, three (3)&#8239;&#8239;days after such mailing):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Maxim Group LLC <BR>
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">300 Park Avenue, 16th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">New York, New York 10022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Attn.: James Siegel, General Counsel <BR>
Email: jsiegel@maximgrp.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Fax No.&#8239;&#8239;(212) 895-3860</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Copy to (which copy shall not be deemed to constitute notice
to the Representative):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

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

<!-- Field: Page; Sequence: 27 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">ArentFox Schiff LLP<BR>
1717 K Street NW<BR>
Washington, DC 20006</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attn:
Ralph V. De Martino,&#8239;&#8239;Esq. <BR>
Email: ralph.demartino@afslaw.com</FONT> <BR>
Fax: (202) 778-6460</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">A SPAC III Acquisition Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">29/F Sun&#8217;s Group Center</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">200 Gloucester Road</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Wan Chai Hong Kong</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Attn: Claudius Tsang</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Email: claudius.tsang@aspac.co</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.25in">Copy to (which copy shall not be deemed
to constitute notice to the Company):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.25in">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.25in">Loeb&#8239;&#8239;&amp; Loeb</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">345 Park Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">New York, New York 10154 <BR>
Attn: Giovanni Caruso,&#8239;&#8239;Esq. <BR>
Fax: (212) 407-4000</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Email: gcaruso@loeb.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.2.&#8239;&#8239;<U>Headings</U>.
The headings contained herein are for the sole purpose of convenience of reference, and shall not in any way limit or affect the meaning
or interpretation of any of the terms or provisions of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.3.&#8239;&#8239;<U>Amendment</U>.
This Agreement may only be amended by a written instrument executed by each of the parties hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.4.&#8239;&#8239;<U>Entire
Agreement</U>. This Agreement (together with the other agreements and documents being delivered pursuant to or in connection with this
Agreement) constitutes the entire agreement of the parties hereto with respect to the subject matter hereof (and thereof), and supersedes
all prior agreements and understandings of the parties, oral and written, with respect to the subject matter hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.5.&#8239;&#8239;<U>Binding
Effect</U>. This Agreement shall inure solely to the benefit of and shall be binding upon the Representative, the Underwriters, the Company
and the Controlling Persons, directors and officers referred to in Section&#8239;&#8239;5 hereof, and their respective successors, legal representatives
and assigns, and no other person shall have or be construed to have any legal or equitable right, remedy or claim under or in respect
of or by virtue of this Agreement or any provisions herein contained.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</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">10.6.</TD><TD>&nbsp;<U>Governing Law, Venue,&#8239;&#8239;etc</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">10.6.1.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;This
Agreement shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without giving
effect to the conflict of laws principles thereof. Each of the Representative and the Company (and any individual signatory hereto): (i)&#8239;&#8239;agrees
that any legal suit, action or proceeding arising out of or relating to this Agreement and/or the transactions contemplated hereby shall
be instituted exclusively in New York Supreme Court, County of New York, or in the United States District Court for the Southern District
of New York; (ii)&#8239;&#8239;waives any objection which such party may have or hereafter have to the venue of any such suit, action or proceeding;
and (iii)&#8239;&#8239;irrevocably and exclusively consents to the jurisdiction of the New York Supreme Court, County of New York, and the United
States District Court for the Southern District of New York in any such suit, action or proceeding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

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

<!-- Field: Page; Sequence: 28 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">10.6.2.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Each
of the Representative and the Company (and any individual signatory hereto) further agrees to accept and acknowledge service of any and
all process which may be served in any such suit, action or proceeding in the New York Supreme Court, County of New York, or in the United
States District Court for the Southern District of New York and agrees that service of process upon the Company or any such individual
mailed by certified mail to the Company&#8217;s address shall be deemed in every respect effective service of process upon the Company
or any such individual in any such suit, action or proceeding, and service of process upon the Representative mailed by certified mail
to the Representative&#8217;s addresses shall be deemed in every respect effective service process upon the Representative, in any such
suit, action or proceeding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">10.6.3.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;THE
COMPANY (ON BEHALF OF ITSELF AND, TO THE FULLEST EXTENT PERMITTED BY LAW, ON BEHALF OF ITS EQUITY HOLDERS AND CREDITORS) HEREBY WAIVES
ANY RIGHT TO A TRIAL BY JURY IN RESPECT OF ANY CLAIM BASED UPON, ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT AND THE TRANSACTIONS
CONTEMPLATED BY THIS AGREEMENT, THE REGISTRATION STATEMENT AND THE PROSPECTUS.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">10.6.4.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Company agrees that the prevailing party(ies) in any such action shall be entitled to recover from the other party(ies) all of its reasonable
attorneys&#8217; fees and expenses relating to such action or proceeding and/or incurred in connection with the preparation therefor.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.7.&#8239;&#8239;<U>Execution
in Counterparts</U>. This Agreement may be executed in one or more counterparts, and by the different parties hereto in separate counterparts,
each of which shall be deemed to be an original, but all of which taken together shall constitute one and the same agreement, and shall
become effective when one or more counterparts has been signed by each of the parties hereto and delivered to each of the other parties
hereto. Delivery of a signed counterpart of this Agreement by fax or email/.pdf transmission shall constitute valid and sufficient delivery
thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.8.&#8239;&#8239;<U>Waiver,
Etc</U>. The failure of any of the parties hereto to at any time enforce any of the provisions of this Agreement shall not be deemed
or construed to be a waiver of any such provision, nor to in any way effect the validity of this Agreement or any provision hereof or
the right of any of the parties hereto to thereafter enforce each and every provision of this Agreement. No waiver of any breach, non-compliance
or non-fulfillment of any of the provisions of this Agreement shall be effective unless set forth in a written instrument executed by
the party or parties against whom or which enforcement of such waiver is sought; and no waiver of any such breach, non- compliance or
non-fulfillment shall be construed or deemed to be a waiver of any other or subsequent breach, non- compliance or non-fulfillment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.9.&#8239;&#8239;<U>No
Fiduciary Relationship</U>. The Company hereby acknowledges that the Underwriters are acting solely as underwriters in connection with
the Offering. The Company further acknowledges that the Underwriters are acting pursuant to a contractual relationship created solely
by this Agreement entered into on an arm&#8217;s length basis and in no event do the parties intend that the Underwriters act or be responsible
as a fiduciary to the Company, its management, shareholders, creditors or any other person in connection with any activity that the Underwriters
may undertake or have undertaken in furtherance of the Offering, either before or after the date hereof. The Underwriters hereby expressly
disclaim any fiduciary or similar obligations to the Company, either in connection with the transactions contemplated by this Agreement
or any matters leading up to such transactions, and the Company hereby confirms its understanding and agreement to that effect. The Company
and the Underwriters agree that they are each responsible for making their own independent judgments with respect to any such transactions,
and that any opinions or views expressed by the Underwriters to the Company regarding such transactions, including but not limited to
any opinions or views with respect to the price or market for the Company&#8217;s securities, do not constitute advice or recommendations
to the Company. The Company hereby waives and releases, to the fullest extent permitted by law, any claims that the Company may have against
the Underwriters with respect to any breach or alleged breach of any fiduciary or similar duty to the Company in connection with the transactions
contemplated by this Agreement or any matters leading up to such transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

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

<!-- Field: Page; Sequence: 29 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If the foregoing correctly
sets forth the understanding between the Underwriters and the Company, please so indicate in the space provided below for that purpose,
whereupon this letter shall constitute a binding agreement between us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&#8239;&#8239;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">Very truly yours,</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&#8239;&#8239;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&#8239;&#8239;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&#8239;&#8239;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif">A SPAC III ACQUISITION CORP.</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&#8239;&#8239;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif">&#8239;&#8239;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 50%">&#8239;&#8239;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 45%">&#8239;&#8239;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&#8239;&#8239;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Name:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Claudius Tsang</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&#8239;&#8239;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Title:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"> Chief Executive Officer and Chief Financial Officer</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Agreed to and accepted on the date first above written.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Maxim Group LLC, as Representative of the several Underwriters</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">&#8239;&#8239;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 3%">&#8239;&#8239;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 5%">Name:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 42%">[&#8226;]</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&#8239;&#8239;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Title:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">[&#8226;]</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature Page&#8239;&#8239;to Underwriting Agreement]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

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

<!-- Field: Page; Sequence: 30 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>A SPAC III ACQUISITION CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>5,500,000 Units</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</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; font-weight: bold; border-bottom: Black 1pt solid">Underwriter</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&#8239;&#8239;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; text-align: center; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Number of Firm<BR> Units<BR> to be Purchased</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&#8239;&#8239;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; width: 87%; font: 10pt Times New Roman, Times, Serif; text-align: left">Maxim Group LLC</TD><TD STYLE="padding-bottom: 1pt; width: 1%; font: 10pt Times New Roman, Times, Serif">&#8239;&#8239;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&#8239;&#8239;</TD><TD STYLE="border-bottom: Black 1pt solid; width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">5,500,000</TD><TD STYLE="padding-bottom: 1pt; width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&#8239;&#8239;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">TOTAL</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#8239;&#8239;</TD>
    <TD STYLE="border-bottom: Black 2.25pt double; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">&#8239;&#8239;</TD><TD STYLE="border-bottom: Black 2.25pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right">5,500,000</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">&#8239;&#8239;</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</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"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>A SPAC III ACQUISITION CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</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"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT&#8239;&#8239;A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Form&#8239;&#8239;of Target Business Letter</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A SPAC III Acquisition Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">29/F Sun&#8217;s Group Center</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">200 Gloucester Road</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Reference is made to the
Final Prospectus of A SPAC III Acquisition Corp. (the &#8220;<B>Company</B>&#8221;), dated<U>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</U>,
202&#8239;&#8239;<U>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</U> (the &#8220;<B>Prospectus</B>&#8221;). Capitalized terms used and not otherwise
defined herein shall have the meanings assigned to them in the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have read the Prospectus
and understand that the Company has established a &#8220;trust account&#8221;, initially in an amount of at least $55,000,000 (or $63,250,000
if the Over-allotment Option is exercised in full) for the benefit of the &#8220;public shareholders&#8221; and the underwriters of the
Company&#8217;s initial public offering (the &#8220;<B>Underwriters</B>&#8221;) and that, except for interest earned on the trust account
that may be released to the Company to pay any taxes it incurs, proceeds in the trust account will not be released until (a)&#8239;&#8239;the
consummation of a Business Combination, or (b)&#8239;&#8239;the dissolution and liquidation of the Company if it is unable to consummate a Business
Combination within the allotted time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For and in consideration of
the Company agreeing to evaluate the undersigned for purposes of consummating a business combination or other form of acquisition with
it, the undersigned hereby agrees that it does not have any right, title, interest or claim of any kind in or to any monies in the trust
account (the &#8220;<B>Claim</B>&#8221;) and hereby waives any Claim it may have in the future as a result of, or arising out of, any
negotiations, contracts or agreements with the Company and will not seek recourse against the trust account for any reason whatsoever.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&#8239;&#8239;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt">&#8239;&#8239;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 50%">&#8239;&#8239;</TD>
    <TD STYLE="width: 50%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Print Name of Target Business</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&#8239;&#8239;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt">&#8239;&#8239;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&#8239;&#8239;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Authorized Signature of Target Business</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

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

<!-- Field: Page; Sequence: 33 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT&#8239;&#8239;B</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Form&#8239;&#8239;of Vendor Letter</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A SPAC III Acquisition Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">29/F Sun&#8217;s Group Center</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">200 Gloucester Road</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Reference is made to the Final
Prospectus of A SPAC III Acquisition Corp. (the &#8220;<B>Company</B>&#8221;), dated<U>&#9;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</U>, 202__ (the
 &#8220;<B>Prospectus</B>&#8221;). Capitalized terms used and not otherwise defined herein shall have the meanings assigned to them in
the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have read the Prospectus
and understand that the Company has established a &#8220;trust account&#8221;, initially in an amount of at least $55,000,000 (or $63,250,000
if the Over-allotment Option is exercised in full) for the benefit of the &#8220;public shareholders&#8221; and the underwriters of the
Company&#8217;s initial public offering (the &#8220;Underwriters&#8221;) and that, except for interest earned on the trust account that
may be released to the Company to pay any taxes it incurs, proceeds in the trust account will not be released until (a)&#8239;&#8239;the consummation
of a Business Combination, or (b)&#8239;&#8239;the dissolution and liquidation of the Company if it is unable to consummate a Business Combination
within the allotted time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For and in consideration of
the Company agreeing to use the products or services of the undersigned, the undersigned hereby agrees that it does not have any right,
title, interest or claim of any kind in or to any monies in the trust account (the &#8220;<B>Claim</B>&#8221;) and hereby waives any Claim
it may have in the future as a result of, or arising out of, any negotiations, contracts or agreements with the Company and will not seek
recourse against the trust account for any reason whatsoever.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&#8239;&#8239;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt">&#8239;&#8239;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 50%">&#8239;&#8239;</TD>
    <TD STYLE="width: 50%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Print Name of Vendor</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&#8239;&#8239;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt">&#8239;&#8239;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&#8239;&#8239;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Authorized Signature of Vendor</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

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

<!-- Field: Page; Sequence: 34 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT&#8239;&#8239;C</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Form&#8239;&#8239;of Director/Officer Letter</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A SPAC III Acquisition Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">29/F Sun&#8217;s Group Center</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">200 Gloucester Road</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned officer or
director of A SPAC III Acquisition Corp. (the &#8220;<B>Company</B>&#8221;) hereby acknowledges that the Company has established the &#8220;trust
account&#8221;, initially in an amount of at least $55,000,000 (or $63,250,000 if the Over-allotment Option is exercised in full) for
the benefit of the &#8220;public shareholders&#8221; and the underwriters of the Company&#8217;s initial public offering (the &#8220;<B>Underwriters</B>&#8221;)
and that, except for interest earned on the trust account that may be released to the Company to pay any taxes it incurs, proceeds in
the trust account will not be released until (a)&#8239;&#8239;the consummation of a Business Combination, or (b)&#8239;&#8239;the dissolution and liquidation
of the Company if it is unable to consummate a Business Combination within the allotted time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned hereby agrees
that, except for its liquidation rights with respect to any Units and/or Class&#8239;&#8239;A Ordinary Shares acquired in the Offering or in the
aftermarket, it does not have any right, title, interest or claim of any kind in or to any monies in the trust account (the &#8220;<B>Claim</B>&#8221;)
and hereby waives any Claim it may have in the future as a result of, or arising out of, any contracts or agreements with the Company
and will not seek recourse against the trust account for any reason whatsoever.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Notwithstanding the foregoing,
such waiver shall not apply to any shares acquired by the undersigned in the public market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&#8239;&#8239;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt">&#8239;&#8239;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 50%">&#8239;&#8239;</TD>
    <TD STYLE="width: 50%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Print Name of Officer/Director</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&#8239;&#8239;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt">&#8239;&#8239;</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt">&#8239;&#8239;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Authorized Signature of </FONT>Officer/Director</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

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

<!-- Field: Page; Sequence: 35; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&#8239;&#8239;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#8239;&#8239;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.1
<SEQUENCE>3
<FILENAME>filename3.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="text-align: right; margin: 0"><B>Exhibit 4.1</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-indent: 0.25in; width: 90%; text-align: left"><B>NUMBER</B></TD><TD STYLE="text-align: center; width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>UNITS</B></FONT></TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-indent: 0.25in; text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-indent: 0.25in; text-align: left"><B>U-__________</B></TD><TD STYLE="text-align: center">&nbsp;</TD></TR>
     </TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 20%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SEE REVERSE FOR
<BR>
CERTAIN DEFINITIONS</FONT></TD><TD STYLE="text-indent: 1.5in; vertical-align: middle; text-align: left; width: 80%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>A
                        SPAC III ACQUISITION CORP.</B></FONT></TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 7in"><B>CUSIP</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-top: 0pt; margin-bottom: 0pt; text-align: center"><B>UNITS CONSISTING OF ONE
CLASS&nbsp;A ORDINARY SHARE AND</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ONE RIGHT TO RECEIVE ONE-FOURTH OF ONE CLASS&nbsp;A
ORDINARY SHARE</B></P>

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



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 16%; text-align: left">THIS CERTIFIES&#8239;THAT</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 84%">&nbsp;</TD>
</TR></TABLE>

<P STYLE="margin: 0">&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="text-align: left; width: 10%">is the owner of</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 85%">&nbsp;</TD>
                                        <TD STYLE="text-align: justify; width: 5%">Units.</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; text-align: justify">Each Unit (&#8220;Unit&#8221;) consists of one
Class&nbsp;A ordinary share, no par value, of A SPAC III Acquisition Corp., a British Virgin Islands company (the &#8220;Company&#8221;)
and one right (&#8220;Right&#8221;) to receive one-fourth (1/4) of one Class&nbsp;A ordinary share. Every four Rights entitles the holder
thereof to receive one Class&nbsp;A ordinary share upon the consummation of the Company&#8217;s initial business combination. The Class&nbsp;A
ordinary shares and Rights comprising the Units represented by this certificate are not transferable separately prior to the fifty-second
(52nd) day after the date of the prospectus relating to the Company&#8217;s initial public offering, unless Maxim Group LLC (&#8220;Maxim&#8221;)
determines that an earlier date is acceptable, but in no event will the Class&nbsp;A ordinary shares and Rights be traded separately
until the Company files with the Securities and Exchange Commission (the &#8220;SEC&#8221;) a current report on Form&nbsp;8-K which includes
an audited balance sheet reflecting the receipt by the Company of the gross proceeds from its initial public offering including the proceeds
received by the Company from the exercise of the over-allotment option thereto, if the over-allotment option is exercised. If Maxim allows
separate trading of the Class&nbsp;A ordinary shares and Rights prior to the 52nd day after the date of the prospectus relating to the
Company&#8217;s initial public offering, the Company will file a Current Report on Form&nbsp;8-K with the SEC announcing when such separate
trading shall begin.</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">The terms of the Rights are governed by a rights
agreement (the &#8220;Rights Agreement&#8221;), dated as of [&#8226;], 2024, between the Company and Continental Stock Transfer&nbsp;&amp;
Trust, as the rights agent, and are subject to the terms and provisions contained therein, all of which terms and provisions the holder
of this certificate consents to by acceptance hereof. Copies of the Rights Agreement are on file at the office of Continental Stock Transfer&nbsp;&amp;
Trust at 1 State Street, 30th Floor, New York, New York 10004 and are available to any Rights holder on written request and without cost.</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; text-indent: 0.25in">This certificate is not
valid unless countersigned by the Transfer Agent and Registrar of the Company.</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; text-indent: 0.25in">Each Unit may be mandatorily
split by the Company in connection with the closing of a 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; text-align: justify; text-indent: 0.25in">Witness the facsimile seal
of the Company and the facsimile signatures of its duly authorized officers.</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; text-indent: 0.25in">This Unit Certificate shall
be governed and construed in accordance with the internal laws of the State of New York, without regard to conflicts of laws principles
thereof.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">[Seal]</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">By</TD>
    <TD STYLE="width: 46%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 49%">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Director</TD>
    <TD>&nbsp;</TD>
    <TD>Chief Financial Officer</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: 1 -->
    <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"></P></DIV>
    <DIV STYLE="break-before: page; 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 SPAC III Acquisition Corp.</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-align: justify; text-indent: 0.5in">The Company will furnish
without charge to each shareholder who so requests, a statement of the powers, designations, preferences and relative, participating,
optional or other special rights of each class of shares or series thereof of the Company and the qualifications, limitations, or restrictions
of such preferences and/or rights.</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; text-indent: 0.5in">The following abbreviations,
when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to
applicable laws or regulations:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 113px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TEN COM &ndash;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">as tenants in common</FONT></TD>
    <TD STYLE="width: 408px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">UNIF GIFT MIN ACT - __________ Custodian __________</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TEN ENT &ndash;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">as tenants by the entireties</FONT></TD>
    <TD STYLE="padding-left: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;(Cust)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Minor)&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">JT TEN &ndash;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">as joint tenants with right of survivorship</FONT></TD>
    <TD STYLE="padding-left: 63pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">under Uniform Gifts to Minors</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">and not as tenants in common</FONT></TD>
    <TD STYLE="padding-left: 63pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Act __________&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 1.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;(State)</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; text-align: justify">Additional Abbreviations may also be used though
not in the above list.</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: 0.5in"><I>For value received, ___________________________hereby
sell(s), assign(s)&nbsp;and transfer(s)&nbsp;unto</I></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PLEASE INSERT SOCIAL SECURITY
    OR OTHER<BR>
    IDENTIFYING NUMBER OF ASSIGNEE(S)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; border-left: black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; width: 288px; border-bottom: black 1pt solid; border-left: black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="text-align: justify">&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: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="border-top: Black 1pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-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-align: center">(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS,&nbsp;INCLUDING
ZIP CODE, OF ASSIGNEE(S))</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; width: 100%; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: justify">&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">_________________<I>___Units</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>represented by the within Certificate, and do hereby irrevocably
constitute and appoint</I></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: justify; width: 100%">&nbsp;</TD></TR>
</TABLE>

<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"><I>____________________Attorney</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>to transfer the said Units on the books of the within named Company
will full power of substitution in the premises.</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"><I>Dated _________________________</I></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #FEFEFE">
    <TD STYLE="width: 25%">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; vertical-align: top; width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Notice:</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; width: 67%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    signature to this assignment must correspond with the name as written upon the face of the certificate in every particular, without
    alteration or enlargement or any change whatever.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">Signature(s)&nbsp;Guaranteed:</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: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 50%"><DIV STYLE="border-top: Black 1pt solid; font-size: 1pt">&nbsp;</DIV></DIV><!-- Field: /Rule-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 0pt 0.5in; text-indent: -0.5in">THE SIGNATURE(S)&nbsp;SHOULD BE GUARANTEED
BY AN ELIGIBLE GUARANTOR INSTITUTION&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">(BANKS, STOCKBROKERS, SAVINGS AND LOAN
ASSOCIATIONS AND CREDIT UNIONS WITH&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">MEMBERSHIP IN AN APPROVED SIGNATURE
GUARANTEE MEDALLION PROGRAM,&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">PURSUANT TO S.E.C. RULE 17Ad-15).</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">The holder of this certificate shall be entitled to receive funds
with respect to the underlying Class&nbsp;A ordinary shares from the trust fund only in the event of the Company&#8217;s liquidation
upon failure to consummate a business combination or if the holder seeks to convert his or her&nbsp;respective Class&nbsp;A ordinary
shares underlying the unit upon consummation of such business combination or in connection with certain amendments to the Company&#8217;s
Amended and Restated Memorandum and Articles of Association. In no other circumstances shall the holder have any right or interest of
any kind in or to the trust fund.</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: 2; Options: Last -->
    <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"></P></DIV>
    <!-- Field: /Page -->

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.2
<SEQUENCE>4
<FILENAME>filename4.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></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: right"><B>Exhibit 4.2</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-align: center">SPECIMEN ORDINARY SHARE CERTIFICATE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 20%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CERTIFICATE NUMBER</FONT></TD><TD STYLE="text-align: right; width: 60%">&nbsp;</TD>
           <TD STYLE="text-align: right; width: 20%"><FONT STYLE="font-size: 10pt">SHARES _________</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; text-align: center">A SPAC III ACQUISITION CORP.</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: center">INCORPORATED UNDER THE LAWS OF THE BRITISH VIRGIN
ISLANDS</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: center">CLASS&nbsp;A ORDINARY 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; text-align: right">SEE REVERSE FOR<BR>
CERTAIN DEFINITIONS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 20%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">THIS CERTIFIES THAT</FONT></TD>
    <TD STYLE="width: 65%">&nbsp;</TD><TD STYLE="text-align: left; width: 15%"><FONT STYLE="font-size: 10pt">CUSIP:</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">IS THE OWNER OF</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: center">FULLY PAID AND NON-ASSESSABLE CLASS&nbsp;A ORDINARY
SHARES OF NO PAR VALUE</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: center">A SPAC III ACQUISITION CORP.</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: center">transferable on the books of the Company in person
or by duly authorized<BR>
attorney upon surrender of this certificate properly endorsed. This certificate is not valid unless countersigned by the Transfer Agent
and registered by the Registrar. Witness the seal of<BR>
the Company and the facsimile signatures of its duly authorized officers.</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: 0.5in">Dated:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="border-top: Black 1pt solid; font-size: 10pt; width: 30%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director
</FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
<TD STYLE="border-top: Black 1pt solid; font-size: 10pt; width: 30%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
Financial Officer</FONT></TD>
    <TD STYLE="width: 38%">&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: 1 -->
    <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"></P></DIV>
    <DIV STYLE="break-before: page; 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"><FONT STYLE="font-family: Times New Roman, Times, Serif">A
SPAC III ACQUISITION CORP.</FONT><BR>
CORPORATE<BR>
SEAL 2021<BR>
BRITISH VIRGIN ISLANDS</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: 2; 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"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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 SPAC III ACQUISITION CORP.</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-align: justify; text-indent: 0.5in">The Company will furnish
without charge to each shareholder who so requests the powers, designations, preferences and relative, participating, optional or other
special rights of each class of share or series thereof of the Company and the qualifications, limitations, or restrictions of such preferences
and/or rights. This certificate and the Class&nbsp;A Ordinary Shares represented thereby are issued and shall be held subject to all
the provisions of the Amended and Restated Memorandum and Articles of Association and all amendments thereto and resolutions of the Board
of Directors providing for the issuance of Class&nbsp;A Ordinary Shares (copies of which may be obtained from the secretary of the Company),
to all of which the holder of this certificate by acceptance hereof assents.</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; text-indent: 0.5in">The following abbreviations,
when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to
applicable laws or regulations:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="width: 113px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TEN COM &ndash;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">as tenants in common</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TEN ENT &ndash;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">as tenants by the entireties</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">JT TEN &ndash;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">as joint tenants with right of survivorship</FONT></TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">and not as tenants in common</FONT></TD>
    </TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt; width: 15%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">UNIF GIFT MIN ACT -</FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid; width: 5%">&nbsp;</TD>
<TD STYLE="text-align: center; font-size: 10pt; width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Custodian</FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid; width: 20%">&nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt">&nbsp;</TD>
<TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Cust)</FONT></TD>
<TD STYLE="font-size: 10pt">&nbsp;</TD>
<TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Minor)</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt">&nbsp;</TD>
<TD COLSPAN="3" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">under Uniform Gifts
to Minors</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt">&nbsp;</TD>
<TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Act</FONT></TD>
<TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="font-size: 10pt">&nbsp;</TD>
<TD STYLE="font-size: 10pt">&nbsp;</TD>
<TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State)</FONT></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; text-align: center">Additional Abbreviations may also be used though
not in the above list.</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: 0.5in">For value received, ___________________________
hereby sell, assign and transfer unto</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; width: 50%">PLEASE INSERT SOCIAL SECURITY OR <BR>
    OTHER <BR>
    IDENTIFYING NUMBER OF ASSIGNEE</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%">&nbsp;</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="border-top: Black 1pt solid; width: 100%; text-align: left">(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS,&nbsp;INCLUDING
ZIP CODE, OF ASSIGNEE) &nbsp;</TD>
</TR></TABLE>

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





<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: Page; Sequence: 3; 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"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; 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>

<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="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="border-bottom: Black 1pt solid; text-align: justify">&nbsp;</TD></TR>
     </TABLE>

<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="border-bottom: Black 1pt solid; width: 90%; text-align: left">&nbsp;</TD><TD STYLE="text-align: justify; width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">of
the capital stock represented by the within Certificate, and do hereby irrevocably constitute and appoint</FONT></P>

<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="border-bottom: Black 1pt solid; width: 90%; text-align: left">&nbsp;</TD><TD STYLE="text-align: justify; width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attorney</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">to
transfer the said share on the books of the within named Corporation will full power of substitution in the premises.</FONT></P>

<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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dated
</FONT>_____________________</P>

<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: 50%"></TD><TD STYLE="width: 8%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOTICE:</FONT></TD><TD STYLE="text-align: justify; width: 42%">The
                                            signature to this assignment must correspond with the name as written upon the face of the
                                            certificate in every particular, without alteration or enlargement or any change whatever.</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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Signature(s)&nbsp;Guaranteed:</FONT></P>

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

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="border-top: Black 1pt solid; font-size: 1pt">&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-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">THE
SIGNATURE(S)&nbsp;MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT
UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).</FONT></P>

<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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
holder of this certificate shall be entitled to receive funds from the trust account only in the event of (i)&nbsp;the liquidation of
the trust account upon a failure to consummate a business combination, as described in the prospectus covering the securities or (ii)&nbsp;if
the holder seeks to convert his respective shares or sells them to the Company in a tender offer, in each case in connection with (1)&nbsp;the
consummation of a business combination or (2)&nbsp;in connection with an amendment to the Company&#8217;s Amended and Restated Memorandum
and Articles of Association prior to the consummation of a business combination.&nbsp;&nbsp;In no other circumstances shall the holder
have any right or interest of any kind in or to the trust account.</FONT></P>

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

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

<!-- Field: Page; Sequence: 4; Options: Last -->
    <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"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></P></DIV>
    <!-- Field: /Page -->

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.3
<SEQUENCE>5
<FILENAME>filename5.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 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; text-align: right; margin-top: 0pt; margin-bottom: 0pt"><B>Exhibit 4.3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 50%; text-align: left"><B>NUMBER<BR>
[&bull;]</B></TD><TD STYLE="text-align: right; width: 50%"><B>&nbsp;RIGHTS</B></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; text-align: center"><B>A SPAC III ACQUISITION CORP.</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-align: center"><B>INCORPORATED UNDER THE LAWS OF THE BRITISH VIRGIN
ISLANDS</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-align: center"><B>RIGHT</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-align: right; text-indent: 0.5in"><B>SEE REVERSE FOR</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in"><B>CERTAIN DEFINITIONS</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-align: right">CUSIP&nbsp;[&bull;]</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>THIS CERTIFIES THAT, for value received</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-align: justify">is the registered holder of a right or rights
(each, a &ldquo;Right&rdquo;) to automatically receive one-fourth of one Class&nbsp;A ordinary share, no par value (&ldquo;Ordinary Share&rdquo;),
of A SPAC III Acquisition Corp. (the &ldquo;Company&rdquo;) for each Right evidenced by this Rights Certificate on the Company&rsquo;s
completion of an initial business combination (as defined in the prospectus relating to the Company&rsquo;s initial public offering (&ldquo;Prospectus&rdquo;))
upon surrender of this Right Certificate pursuant to the Rights Agreement between the Company and Continental Stock Transfer&nbsp;&amp;
Trust Company, as Rights Agent. In no event will the Company be required to net cash settle any Right.</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">Upon liquidation of the Company in the event an
initial business combination is not consummated during the required period as identified in the Company&rsquo;s Amended and Restated Memorandum
and Articles of Association, the Right shall expire and be worthless. The holder of a Right shall have no right or interest of any kind
in the Company&rsquo;s trust account (as defined in the 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; text-align: justify">Upon due presentment for registration of transfer
of the Right Certificate at the office or agency of the Rights Agent, a new Right Certificate or Right Certificates of like tenor and
evidencing in the aggregate a like number of Rights shall be issued to the transferee in exchange for this Right Certificate, without
charge except for any applicable tax or other governmental charge. The Company shall not issue fractional shares upon exchange of Rights.
The Company reserves the right to deal with any fractional entitlement at the relevant time in any manner (as provided in the 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; text-align: justify">The Company and the Rights Agent may deem and
treat the registered holder as the absolute owner of this Right Certificate (notwithstanding any notation of ownership or other writing
hereon made by anyone), for the purpose of any conversion hereof, of any distribution to the registered holder, and for all other purposes,
and neither the Company nor the Right Agent shall be affected by any notice to the contrary.</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">This Right does not entitle the registered holder
to any of the rights of a shareholder of the Company.</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">This Rights Certificate shall be governed and
construed in accordance with the internal laws of the State of New York, without regard to conflicts of laws principles thereof.</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: 0.5in"><I>Dated:</I></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 34%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 33%; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 33%; font-size: 10pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-top: black 1pt solid; font-size: 10pt">DIRECTOR</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; font-size: 10pt">CHIEF FINANCIAL OFFICER</TD></TR>
  </TABLE>
<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">&nbsp;</P>

<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">Continental Stock Transfer&nbsp;&amp; Trust Company, as Rights Agent</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: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: 0.5in">The following abbreviations, when used in the inscription
on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or regulations:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%">TEN COM &ndash; as tenants in common</TD>
    <TD STYLE="width: 55%">UNIF GIFT MIN ACT - __________ Custodian __________</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>TEN ENT &ndash; as tenants by the entireties</TD>
    <TD STYLE="text-align: center">(Cust) (Minor)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>JT TEN &ndash; as joint tenants with right of survivorship</TD>
    <TD STYLE="text-align: center">under Uniform Gifts to Minors</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>and not as tenants in common</TD>
    <TD STYLE="text-align: center">Act __________</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">(State)</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">Additional Abbreviations may also be used though
not in the above list.</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: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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 SPAC III Acquisition Corp.</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-align: justify; text-indent: 0.5in">The Company will furnish without
charge to each shareholder who so requests the powers, designations, preferences and relative, participating, optional or other special
rights of each class of shares or series thereof of the Company and the qualifications, limitations, or restrictions of such preferences
and/or rights. This certificate and the rights represented thereby are issued and shall be held subject to all the provisions of the Memorandum
and Articles of Association and all amendments thereto and resolutions of the Board of Directors providing for the issue of Ordinary Shares
(copies of which may be obtained from the secretary of the Company), to all of which the holder of this certificate by acceptance hereof
assents.</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: 0.5in"><I>For value received, ___________________________
hereby sell, assign and transfer unto</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 0pt 0.5in; text-indent: -0.5in">PLEASE INSERT SOCIAL SECURITY OR OTHER</P>




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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="background-color: #FEFEFE">
    <TD STYLE="width: 30%; border: black 1.5pt solid; padding-right: 1.5pt; padding-left: 1.5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 38.25pt">&nbsp;</P></TD>
    <TD STYLE="width: 70%; font-size: 10pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="border-bottom: Black 1pt solid; 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; text-align: center">(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS,&nbsp;INCLUDING
ZIP CODE, OF ASSIGNEE)</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="font-size: 10pt">________________________________________________________________________</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt; text-align: right"><I>rights</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="6">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>represented by the within Certificate, and do hereby irrevocably
    constitute and appoint</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.25pt">&nbsp;</P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">_________________________________________________________________________</TD>
    <TD COLSPAN="4" STYLE="vertical-align: top; font-size: 10pt; text-align: right"><I>Attorney</I></TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="6" STYLE="font-size: 10pt"><I>to transfer said rights on the books of the within named Company will full power of substitution in the premises.</I></TD></TR>
  <TR STYLE="font-size: 5pt; vertical-align: top">
    <TD COLSPAN="2" STYLE="font-size: 5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 5pt">&nbsp;</TD></TR>
  <TR STYLE="font-size: 5pt">
    <TD STYLE="font-size: 5pt; width: 77%">&nbsp;</TD>
    <TD STYLE="font-size: 5pt; width: 15%">&nbsp;</TD>
    <TD STYLE="font-size: 5pt; width: 1%">&nbsp;</TD>
    <TD STYLE="font-size: 5pt; width: 1%">&nbsp;</TD>
    <TD STYLE="font-size: 5pt; width: 5%">&nbsp;</TD>
    <TD STYLE="font-size: 5pt; width: 1%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&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: 6%; text-align: left"><I>Dated</I></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 43%">&nbsp;</TD>
                                                             <TD STYLE="text-align: justify; width: 51%">&nbsp;</TD>
</TR></TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="background-color: #FEFEFE">
    <TD STYLE="width: 50%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; vertical-align: top; width: 10%; font-size: 10pt"><B>Notice:</B></TD>
    <TD STYLE="width: 40%; border-top: black 1pt solid; font-size: 10pt; text-align: justify">The signature to this assignment must correspond with the name as written upon the face of the certificate in every particular, without alteration or enlargement or any change whatever.</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">Signature(s)&nbsp;Guaranteed:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 50%; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify">THE SIGNATURE(S)&nbsp;SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The holder of this certificate shall have no right or interest of any
kind in or to the funds held in the Company&rsquo;s trust account (as defined in the Prospectus).</P>

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

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.4
<SEQUENCE>6
<FILENAME>filename6.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 4.4&nbsp;</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>RIGHTS AGREEMENT</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-align: justify; text-indent: 0.5in">This Rights Agreement (this
 &ldquo;Agreement&rdquo;) is made as of [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], 2024 between A SPAC III Acquisition Corp., a British Virgin Islands
business company, with offices at 29/F, Sun&rsquo;s Group Center, 200 Gloucester Road, Wan Chai, Hong Kong (the &ldquo;Company&rdquo;),
and Continental Stock Transfer&nbsp;&amp; Trust Company, a New York corporation, with offices at 1 State Street, 30th Floor, New York,
New York 10004 (the &ldquo;Right Agent&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; text-align: justify; text-indent: 0.5in">WHEREAS, the Company has received
a firm commitment from Maxim Group LLC (&ldquo;Maxim&rdquo;) to purchase up to an aggregate of 5,500,000 units, each unit (&ldquo;Unit&rdquo;)
comprised of one Class&nbsp;A ordinary share of the Company, no par value (the &ldquo;Ordinary Shares&rdquo;) and one right to receive
one-fourth of one Ordinary Share (a &ldquo;Public Right&rdquo;) upon the happening of the triggering event described herein, and in connection
therewith, will issue and deliver up to an aggregate of 6,325,000 Public Rights upon consummation of such public offering, 825,000 of
which are attributable to the over-allotment option (&ldquo;Public Offering&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; text-align: justify; text-indent: 0.5in">WHEREAS, simultaneously with
the consummation of the Public Offering, the Company will issue and deliver up to an aggregate of 280,000 rights, up to a maximum of 288,250
rights if the over-allotment option is exercised in full, (the &ldquo;Private Rights&rdquo;) underlying private units (together with the
Public Rights, the &ldquo;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; text-align: justify; text-indent: 0.5in">WHEREAS, the Company has filed
with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) a Registration Statement on Form&nbsp;S-1, File No.&nbsp;333-[<FONT STYLE="font-family: Symbol">&middot;</FONT>]
(&ldquo;Registration Statement&rdquo;), for the registration, under the Securities Act of 1933, as amended (&ldquo;Act&rdquo;) of, among
other securities, the Public Rights and the Ordinary Shares issuable to the holders of the Public Rights;</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; text-indent: 0.5in">WHEREAS, the Company desires
the Right Agent to act on behalf of the Company, and the Right Agent is willing to so act, in connection with the issuance, registration,
transfer and exchange of the Rights;</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; text-indent: 0.5in">WHEREAS, the Company desires
to provide for the form and provisions of the Rights, the terms upon which they shall be issued, and the respective rights, limitation
of rights, and immunities of the Company, the Right Agent, and the holders of the Rights; and</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; text-indent: 0.5in">WHEREAS, all acts and things
have been done and performed which are necessary to make the Rights, when executed on behalf of the Company and countersigned by or on
behalf of the Right Agent, as provided herein, the valid, binding and legal obligations of the Company, and to authorize the execution
and delivery of this 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; text-align: justify; text-indent: 0.5in">NOW, THEREFORE, in consideration
of the mutual agreements herein contained, the parties hereto agree as follows:</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">1.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
 &#8239;<U>Appointment of Right Agent</U>. The Company hereby appoints the Right Agent to act as agent for the Company for the Rights,
and the Right Agent hereby accepts such appointment and agrees to perform the same in accordance with the terms and conditions set forth
in this Agreement.</P>

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

<P STYLE="margin: 0">2. &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Rights</U>.</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; text-indent: 0.5in">2.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Form&nbsp;of
Right</U>. Each Right shall be issued in registered or book entry form, as requested by the Company or the holder of a Right. Any Rights
issued in registered form shall be in substantially the form of&nbsp;<U>Exhibit&nbsp;A</U>&nbsp;hereto, the provisions of which are incorporated
herein and shall be signed by, or bear the facsimile signature of, the Chairman of the Board, Chief Executive Officer, or Chief Financial
Officer and shall bear a facsimile of the Company&rsquo;s seal, if any. In the event the person whose facsimile signature has been placed
upon any Right shall have ceased to serve in the capacity in which such person signed the Right before such Right is issued, it may be
issued with the same effect as if he or she had not ceased to be such at the date of issuance.</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; text-indent: 0.5in">2.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Effect
of Countersignature</U>. Unless and until countersigned by the Right Agent pursuant to this Agreement, a registered Right shall be invalid
and of no effect and may not be exchanged for Ordinary Shares.</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; text-indent: 0.5in">2.3&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Registration</U>.</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; text-indent: 1in">2.3.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Right
Register</U>. The Right Agent shall maintain books (&ldquo;Right Register&rdquo;) for the registration of original issuance and the registration
of transfer of the Rights. Upon the initial issuance of the Rights, the Right Agent shall issue and register the Rights in the names of
the respective holders thereof in such denominations and otherwise in accordance with instructions delivered to the Right Agent by the
Company.</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: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 1in">2.3.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Registered
Holder</U>. Prior to due presentment for registration of transfer of any Right, the Company and the Right Agent may deem and treat the
person in whose name such Right shall be registered upon the Right Register (&ldquo;registered holder&rdquo;) as the absolute owner of
such Right and of each Right represented thereby (notwithstanding any notation of ownership or other writing on the Right Certificate
made by anyone other than the Company or the Right Agent), for the purpose of the exchange thereof, and for all other purposes, and neither
the Company nor the Right Agent shall be affected by any notice to the contrary.</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; text-indent: 0.5in">2.4&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Detachability
of Rights</U>. The securities comprising the Units, including the Rights, will not be separately transferable until the fifty-second (52nd)
day after the date hereof unless Maxim informs the Company and the Right Agent of its decision to allow earlier separate trading, but
in no event will separate trading of the securities comprising the Units begin until (i)&nbsp;the Company files a Current Report on Form&nbsp;8-K
which includes an audited balance sheet reflecting the receipt by the Company of the gross proceeds of the Public Offering including the
proceeds received by the Company from the exercise of the over-allotment option, if the over-allotment option is exercised on the date
hereof, and (ii)&nbsp;the Company files a Current Report on Form&nbsp;8-K announcing when such separate trading shall begin.</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">3.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Terms
and Exchange of Rights</U>.</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; text-indent: 0.5in">3.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Rights</U>.
Each Right shall entitle the holder thereof to receive one-fourth of one Ordinary Share upon the happening of the Exchange Event (described
below). No additional consideration shall be paid by a holder of Rights in order to receive his, her or its Ordinary Shares upon the Exchange
Event as the purchase price for such Ordinary Shares has been included in the purchase price for the Units. In no event will the Company
be required to net cash settle the Rights or issue fractional Ordinary Shares. The provisions of this Section&nbsp;3.1 may not be modified,
amended or deleted without the prior written consent of Maxim.</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; text-indent: 0.5in">3.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Exchange
Event</U>. The Exchange Event shall be the Company&rsquo;s consummation of an initial Business Combination (as defined in the Company&rsquo;s
Amended and Restated Memorandum and Articles of Association).</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; text-indent: 0.5in">3.3&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Exchange
of Rights</U>.</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; text-indent: 1in">3.3.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Issuance
of Certificates</U>. As soon as practicable upon the occurrence of the Exchange Event, the Company shall direct holders of the Rights
to return their Rights Certificates to the Right Agent. If the Company is not the surviving entity in a Business Combination, the holder
of Rights must affirmatively elect to such conversion. Upon receipt of a valid Rights Certificate, the Right Agent shall issue to the
registered holder of such Right(s)&nbsp;a certificate or certificates for the number of full Ordinary Shares to which he, she or it is
entitled, registered in such name or names as may be directed by him, her or it. Notwithstanding the foregoing, or any provision contained
in this Agreement to the contrary, in no event will the Company be required to net cash settle the Rights. The Company shall not issue
fractional shares upon exchange of Rights. At the time of the Exchange Event, the Company will instruct the Right Agent to round down
to the nearest whole Ordinary Share or otherwise inform it how fractional shares will be addressed in accordance with British Virgin Islands
law.</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; text-indent: 1in">3.3.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Valid
Issuance</U>. All Ordinary Shares issued upon an Exchange Event in conformity with this Agreement shall be validly issued, fully paid
and nonassessable.</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; text-indent: 1in">3.3.3&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Date
of Issuance</U>. Each person in whose name any such certificate for Ordinary Shares is issued shall for all purposes be deemed to have
become the holder of record of such shares on the date of the Exchange Event, irrespective of the date of delivery of such certificate.</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; text-indent: 1in">3.3.4&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Company
Not Surviving Following Exchange Event</U>. If the Exchange Event results in the Company not continuing as a publicly held reporting entity,
the definitive agreement will provide for the holders of Rights to receive the same per share consideration as the holders of the Ordinary
Shares will receive in with the Exchange Event, for the number of shares such holder is entitled to pursuant to Section&nbsp;3.1 above.</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; text-indent: 0.5in">3.4&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Duration
of Rights</U>. If an Exchange Event does not occur within the time period set forth in the Company&rsquo;s Amended and Restated Memorandum
and Articles of Association, as the same may be amended from time to time, the Rights shall expire and shall be 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"></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="break-before: page; 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: justify">4.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Transfer
and Exchange of Rights</U>.</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; text-indent: 0.5in">4.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Registration
of Transfer</U>. The Right Agent shall register the transfer, from time to time, of any outstanding Right upon the Right Register, upon
surrender of such Right for transfer, properly endorsed with signatures properly guaranteed and accompanied by appropriate instructions
for transfer. Upon any such transfer, a new Right representing an equal aggregate number of Rights shall be issued and the old Right shall
be cancelled by the Right Agent.</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; text-indent: 0.5in">4.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Procedure
for Surrender of Rights</U>. Rights may be surrendered to the Right Agent, together with a written request for exchange or transfer, and
thereupon the Right Agent shall issue in exchange therefor one or more new Rights as requested by the registered holder of the Rights
so surrendered, representing an equal aggregate number of Rights; provided, however, that in the event that a Right surrendered for transfer
bears a restrictive legend, the Right Agent shall not cancel such Right and issue new Rights in exchange therefor until the Right Agent
has received an opinion of counsel for the Company stating that such transfer may be made and indicating whether the new Rights must also
bear a restrictive legend.</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; text-indent: 0.5in">4.3&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Fractional
Rights</U>. The Right Agent shall not be required to effect any registration of transfer or exchange which will result in the issuance
of a Right Certificate for a fraction of a Right.</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; text-indent: 0.5in">4.4&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Service
Charges</U>. There shall be a reasonable service charge paid to the Right Agent for any exchange or registration of transfer of Rights.</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; text-indent: 0.5in">4.5&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Right
Execution and Countersignature</U>. The Right Agent is hereby authorized to countersign and to deliver, in accordance with the terms of
this Agreement, the Rights required to be issued pursuant to the provisions of this Section&nbsp;4, and the Company, whenever required
by the Right Agent, will supply the Right Agent with Rights duly executed on behalf of the Company for such purpose.</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">5.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Other
Provisions Relating to Rights of Holders of Rights</U>.</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; text-indent: 0.5in">5.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>No
Rights as Shareholder</U>. Until exchange of a Right for Ordinary Shares as provided for herein, a Right does not entitle the registered
holder thereof to any of the rights of a shareholder of the Company, including, without limitation, the right to receive dividends, or
other distributions, exercise any preemptive rights to vote or to consent or to receive notice as shareholders in respect of the meetings
of shareholders or the election of directors of the Company or any other matter.</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; text-indent: 0.5in">5.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Lost,
Stolen, Mutilated, or Destroyed Rights</U>. If any Right is lost, stolen, mutilated, or destroyed, the Company and the Right Agent may
on such terms as to indemnity or otherwise as they may in their discretion impose (which shall, in the case of a mutilated Right, include
the surrender thereof), issue a new Right of like denomination, tenor, and date as the Right so lost, stolen, mutilated, or destroyed.
Any such new Right shall constitute a substitute contractual obligation of the Company, whether or not the allegedly lost, stolen, mutilated,
or destroyed Right shall be at any time enforceable by anyone.</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; text-indent: 0.5in">5.3&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Reservation
of Ordinary Shares</U>. The Company shall at all times reserve and keep available a number of its authorized but unissued Ordinary Shares
that will be sufficient to permit the exchange of all outstanding Rights issued pursuant to this 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; text-align: justify">6.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Concerning
the Right Agent and Other Matters</U>.</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; text-indent: 0.5in">6.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Payment
of Taxes</U>. The Company will from time to time promptly pay all taxes and charges that may be imposed upon the Company or the Right
Agent in respect of the issuance or delivery of Ordinary Shares upon the exchange of Rights, but the Company shall not be obligated to
pay any transfer taxes in respect of the Rights or such shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></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="break-before: page; 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; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Resignation,
Consolidation, or Merger of Right Agent.</U></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; text-indent: 1in">&#8239;6.2.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Appointment
of Successor Right Agent</U>. The Right Agent, or any successor to it hereafter appointed, may resign its duties and be discharged from
all further duties and liabilities hereunder after giving sixty (60) days&rsquo; notice in writing to the Company. If the office of the
Right Agent becomes vacant by resignation or incapacity to act or otherwise, the Company shall appoint in writing a successor Right Agent
in place of the Right Agent. If the Company shall fail to make such appointment within a period of 30 days after it has been notified
in writing of such resignation or incapacity by the Right Agent or by the holder of the Right (who shall, with such notice, submit his,
her or its Right for inspection by the Company), then the holder of any Right may apply to the Supreme Court of the State of New York
for the County of New York for the appointment of a successor Right Agent at the Company&rsquo;s cost. Any successor Right Agent, whether
appointed by the Company or by such court, shall be a corporation organized and existing under the laws of the State of New York, in good
standing and having its principal office in the Borough of Manhattan, City and State of New York, and authorized under such laws to exercise
corporate trust powers and subject to supervision or examination by federal or state authority. After appointment, any successor Right
Agent shall be vested with all the authority, powers, rights, immunities, duties, and obligations of its predecessor Right Agent with
like effect as if originally named as Right Agent hereunder, without any further act or deed; but if for any reason it becomes necessary
or appropriate, the predecessor Right Agent shall execute and deliver, at the expense of the Company, an instrument transferring to such
successor Right Agent all the authority, powers, and rights of such predecessor Right Agent hereunder; and upon request of any successor
Right Agent the Company shall make, execute, acknowledge, and deliver any and all instruments in writing for more fully and effectually
vesting in and confirming to such successor Right Agent all such authority, powers, rights, immunities, duties, and obligations.</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; text-indent: 1in">&#8239;6.2.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Notice
of Successor Right Agent</U>. In the event a successor Right Agent shall be appointed, the Company shall give notice thereof to the predecessor
Right Agent and the transfer agent for the Ordinary Shares not later than the effective date of any such appointment.</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; text-indent: 1in">&#8239;6.2.3&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Merger
or Consolidation of Right Agent</U>. Any corporation into which the Right Agent may be merged or with which it may be consolidated or
any corporation resulting from any merger or consolidation to which the Right Agent shall be a party shall be the successor Right Agent
under this Agreement without any further act.</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; text-indent: 0.5in">6.3&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Fees
and Expenses of Right Agent</U>.</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; text-indent: 1in">&#8239;6.3.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Remuneration</U>.
The Company agrees to pay the Right Agent reasonable remuneration for its services as such Right Agent hereunder and will reimburse the
Right Agent upon demand for all expenditures that the Right Agent may reasonably incur in the execution of its duties hereunder.</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; text-indent: 1in">&#8239;6.3.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Further
Assurances</U>. The Company agrees to perform, execute, acknowledge, and deliver or cause to be performed, executed, acknowledged, and
delivered all such further and other acts, instruments, and assurances as may reasonably be required by the Right Agent for the carrying
out or performing of the provisions of this 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; text-align: justify; text-indent: 0.5in">6.4&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Liability
of Right Agent</U>.</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; text-indent: 1in">&#8239;6.4.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Reliance
on Company Statement</U>. Whenever in the performance of its duties under this Agreement, the Right Agent shall deem it necessary or desirable
that any fact or matter be proved or established by the Company prior to taking or suffering any action hereunder, such fact or matter
(unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be conclusively proved and established by
a statement signed by the Chief Executive Officer or Chief Financial Officer and delivered to the Right Agent. The Right Agent may rely
upon such statement for any action taken or suffered in good faith by it pursuant to the provisions of this 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; text-align: justify; text-indent: 1in">&#8239;6.4.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Indemnity</U>.
The Right Agent shall be liable hereunder only for its own gross negligence, willful misconduct or bad faith. The Company agrees to indemnify
the Right Agent and save it harmless against any and all liabilities, including judgments, costs and reasonable counsel fees, for anything
done or omitted by the Right Agent in the execution of this Agreement except as a result of the Right Agent&rsquo;s gross negligence,
willful misconduct, or bad faith.</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; text-indent: 1in">&#8239;6.4.3&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Exclusions</U>.
The Right Agent shall have no responsibility with respect to the validity of this Agreement or with respect to the validity or execution
of any Right (except its countersignature thereof); nor shall it be responsible for any breach by the Company of any covenant or condition
contained in this Agreement or in any Right; nor shall it by any act hereunder be deemed to make any representation or warranty as to
the authorization or reservation of any Ordinary Shares to be issued pursuant to this Agreement or any Right or as to whether any Ordinary
Shares will, when issued, be valid and fully paid and nonassessable.</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; text-indent: 0.5in">6.5&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Acceptance
of Agency</U>. The Right Agent hereby accepts the agency established by this Agreement and agrees to perform the same upon the terms and
conditions herein set forth.</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: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in">6.6&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Waiver</U>.
The Right Agent hereby waives any right of set-off or any other right, title, interest or claim of any kind (&ldquo;Claim&rdquo;) in,
or to any distribution of, the Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of the date hereof,
by and between the Company and the Right Agent as trustee thereunder) and hereby agrees not to seek recourse, reimbursement, payment or
satisfaction for any Claim against the Trust Account for any reason whatsoever.</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">7.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Miscellaneous
Provisions</U>.</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; text-indent: 0.5in">7.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Successors</U>.
All the covenants and provisions of this Agreement by or for the benefit of the Company or the Right Agent shall bind and inure to the
benefit of their respective successors and assigns.</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; text-indent: 0.5in">7.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Notices</U>.
Any notice, statement or demand authorized by this Agreement to be given or made by the Right Agent or by the holder of any Right to or
on the Company shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail or private
courier service within five days after deposit of such notice, postage prepaid, addressed (until another address is filed in writing by
the Company with the Right Agent), as follows:</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 0.5in; text-align: justify">A SPAC III Acquisition Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">29/F, Sun&rsquo;s Group Center</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">200 Gloucester Road</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Attn: Claudius Tsang</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 0.5in; text-align: justify">Any notice, statement or demand authorized
by this Agreement to be given or made by the holder of any Right or by the Company to or on the Right Agent shall be sufficiently given
when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service within five days after deposit
of such notice, postage prepaid, addressed (until another address is filed in writing by the Right Agent with the Company), as follows:</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; text-indent: 0.5in">Continental Stock Transfer&nbsp;&amp;
Trust Company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1 State Street, 30th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">New York, NY 10004</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Attn: Compliance</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Loeb&nbsp;&amp; Loeb LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">35 Park Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">New York, New York 10154</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Attn: Giovanni Caruso,&nbsp;Esq.</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; text-indent: 0.5in">and</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; text-indent: 0.5in">Maxim Group LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">300 Park Avenue, 16th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">New York, New York 10022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Attn.: James Siegel, General
Counsel</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Email: <U>jsiegel@maximgrp.com</U></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Fax No.&nbsp;(212) 895-3860</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; text-indent: 0.5in">and</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; text-indent: 0.5in">Ellenoff Grossman&nbsp;&amp;
Schole LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1345 Avenue of the Americas,
11th Fl.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">New York, New York 10105</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Attn: Joan Adler</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Email: jadler@egsllp.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Fax No.: (212) 3707889</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: 5 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in">7.3&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Applicable
Law</U>. The validity, interpretation, and performance of this Agreement and of the Rights shall be governed in all respects by the laws
of the State of New York, without giving effect to conflicts of law principles that would result in the application of the substantive
laws of another jurisdiction. The Company hereby agrees that any action, proceeding or claim against it arising out of or relating in
any way to this Agreement shall 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 irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. The Company hereby
waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. Any such process or summons
to be served upon the Company may be served by transmitting a copy thereof by registered or certified mail, return receipt requested,
postage prepaid, addressed to it at the address set forth in Section&nbsp;7.2 hereof. Such mailing shall be deemed personal service and
shall be legal and binding upon the Company in any action, proceeding or claim. Notwithstanding the foregoing, Section&nbsp;7.3 of this
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.</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; text-indent: 0.5in">7.4&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Persons
Having Rights under this Agreement</U>. Nothing in this Agreement expressed and nothing that may be implied from any of the provisions
hereof is intended, or shall be construed, to confer upon, or give to, any person or corporation other than the parties hereto and the
registered holders of the Rights and, for the purposes of Sections 3.1, 7.4 and 7.8 hereof, Maxim, any right, remedy, or claim under
or by reason of this Agreement or of any covenant, condition, stipulation, promise, or agreement hereof. Maxim shall be&#8239;deemed to be a
third-party beneficiary of this Agreement with respect to Sections 3.1, 7.4 and 7.8 hereof. All covenants, conditions, stipulations,
promises, and agreements contained in this Agreement shall be for the sole and exclusive benefit of the parties hereto (and Maxim with
respect to Sections 3.1, 7.4 and 7.8 hereof) and their successors and assigns and of the registered holders of the Rights.</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; text-indent: 0.5in">7.5&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Examination
of this Agreement</U>. A copy of this Agreement shall be available at all reasonable times at the office of the Right Agent in the County
of Nassau County, State of New York, for inspection by the registered holder of any Right. The Right Agent may require any such holder
to submit his, her or its Right for inspection by it.</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; text-indent: 0.5in">7.6&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Counterparts</U>.
This Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all purposes
be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.</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; text-indent: 0.5in">7.7&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Effect
of Headings</U>. The Section&nbsp;headings herein are for convenience only and are not part of this Agreement and shall not affect the
interpretation thereof.</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; text-indent: 0.5in">7.8&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Amendments</U>.
This Agreement may be amended by the parties hereto without the consent of any registered holder for the purpose of curing any ambiguity,
or of curing, correcting or supplementing any defective provision contained herein or adding or changing any other provisions with respect
to matters or questions arising under this Agreement as the parties may deem necessary or desirable and that the parties deem shall not
adversely affect the interest of the registered holders in any material respect. All other modifications or amendments shall require the
written consent or vote of the registered holders of a majority of the then outstanding Rights. The provisions of this Section&nbsp;7.8
may not be modified, amended or deleted without the prior written consent of Maxim.</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; text-indent: 0.5in">7.9&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Severability</U>.
This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the
validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable
term or provision, the parties hereto intend that there shall be added as a part of this Agreement a provision as similar in terms to
such invalid or unenforceable provision as may be possible and be valid and enforceable.</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: center">[Signature Page&nbsp;Follows]</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: 6 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in">IN WITNESS WHEREOF, this Agreement
has been duly executed by the parties hereto as of the day and year first above written.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: justify">A SPAC III ACQUISITION CORP.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="3">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 50%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 3%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 5%">Name:</TD>
    <TD STYLE="text-align: justify; width: 42%">Claudius Tsang</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Title:</TD>
    <TD STYLE="text-align: justify">Chief Executive Officer</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="3">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">CONTINENTAL STOCK TRANSFER&nbsp;&amp; TRUST
COMPANY</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">Name:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">Title:</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">[Signature Page&nbsp;to Rights Agreement between
A SPAC III Acquisition Corp. and Continental Stock Transfer&nbsp;&amp; Trust Company]</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: 7 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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&nbsp;A<BR>
Form&nbsp;of Right</B></P>

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

<!-- Field: Page; Sequence: 8; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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



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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>7
<FILENAME>filename7.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.2</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">[<FONT STYLE="font-family: Symbol">&middot;</FONT>], 2024</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">A SPAC III Acquisition Corp.<BR>
29/F, Sun&#8217;s Group Center</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">200 Gloucester Road<BR>
Wan Chai, Hong Kong</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">Maxim Group LLC<BR>
300 Park Avenue<BR>
New York, New York 10022</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 1in; text-align: justify">Re: Initial Public 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; text-align: justify">Ladies and Gentlemen:</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; text-indent: 0.5in">This letter is being delivered
to you in accordance with the Underwriting Agreement (the&nbsp;<B><I>&#8220;Underwriting Agreement&#8221;</I></B><I>)&nbsp;</I>entered
into by and between A SPAC III Acquisition Corp., a British Virgin Islands business company (the&nbsp;<B><I>&#8220;Company&#8221;</I></B><I>),&nbsp;</I>and
Maxim Group LLC, as Underwriter (the&nbsp;<B><I>&#8220;Underwriter&#8221;</I></B><I>),</I>&nbsp;relating to an underwritten initial public
offering (the&nbsp;<B><I>&#8220;IPO&#8221;</I></B><I>)</I>&nbsp;of the Company&#8217;s units (the&nbsp;<B><I>&#8220;Units&#8221;</I></B><I>),</I>&nbsp;each
comprised of one Class&nbsp;A ordinary share of the Company, no par value (the&nbsp;<B><I>&#8220;Ordinary Shares&#8221;</I></B><I>)</I>&nbsp;and
one right to receive one-fourth (1/4) of one Ordinary Share (the&nbsp;<B><I>&#8220;Rights&#8221;</I></B><I>).</I>&nbsp;Certain capitalized
terms used herein are defined in paragraph 17 hereof.</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; text-indent: 0.5in">In order to induce the Company
and the Underwriters to enter into the Underwriting Agreement and to proceed with the IPO, and in recognition of the benefit that such
IPO will confer upon the undersigned as a shareholder of the Company, and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the undersigned hereby agrees with the Company as follows:</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; text-indent: 0.5in">1.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;If
the Company solicits approval of its shareholders of a Business Combination, the undersigned will vote all Ordinary Shares beneficially
owned by him, her or it, whether acquired before, in or after the IPO, in favor of such 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; text-align: justify; text-indent: 0.5in">2.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;(a)&nbsp;Unless
the Company&#8217;s shareholders are previously given the option to redeem their shares in connection with amending applicable documents
to extend the time that the Company has to complete a Business Combination and the Company fails to consummate a Business Combination
within 12 months from the closing of the Company&#8217;s IPO (or, in the event that the Company extended the period of time to consummate
a business combination up to two times, each by an additional three months, up to 18 months from the closing of the Company&#8217;s IPO),
the undersigned shall take all reasonable steps to (i)&nbsp;cause the Trust Fund to be liquidated and distributed to the holders of the
IPO Shares and (ii)&nbsp;cause the Company to liquidate as soon as reasonably practicable.</P>

<P STYLE="text-align: justify; text-indent: 1in; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
undersigned hereby waives any and all right, title, interest or claim of any kind in or to any distribution of the Trust Fund and any
remaining net assets of the Company as a result of such liquidation with respect to his, her or its Insider Shares including any shares
underlying the Private Units (<B>&#8220;<I>Claim&#8221;)</I></B>&nbsp;and hereby waives any Claim the undersigned may have in the future
as a result of, or arising out of, any contracts or agreements with the Company and will not seek recourse against the Trust Fund for
any reason whatsoever. The undersigned acknowledges and agrees that there will be no distribution from the Trust Fund with respect to
any Rights underlying the Private Units, all of which will terminate on the Company&#8217;s liquidation.</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; text-indent: 0.5in">3.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;In
the event of the liquidation of the Trust Fund, the undersigned agrees to indemnify and hold harmless the Company against any and all
loss, liability, claims, damage and expense whatsoever (including, but not limited to, any and all legal or other expenses reasonably
incurred in investigating, preparing or defending against any litigation, whether pending or threatened, or any claim whatsoever) which
the Company may become subject as a result of any claim by any target business or vendor or other person who is owed money by the Company
for services rendered or products sold or contracted for, but only to the extent necessary to ensure that such loss, liability, claim,
damage or expense does not reduce the amount of funds in the Trust Fund; provided that such indemnity shall not apply if such target
business, vendor or other person has executed an agreement waiving any claims against the Trust Fund.<SUP>1</SUP></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: 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"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>1</SUP> Applicable to A SPAC III (Holdings) Corp. only.</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: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in">4.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;In
the event that the Company does not consummate a Business Combination and must liquidate and its remaining net assets are insufficient
to complete such liquidation, the undersigned agrees to advance such funds necessary to complete such liquidation and agrees not to seek
recourse for such expenses.<SUP>2</SUP></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; text-indent: 0.5in">5.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
undersigned agrees that until the Company consummates a Business Combination, the undersigned&#8217;s Private Units will be subject to
the transfer restrictions described in the Subscription Agreement relating to the undersigned&#8217;s Private Units.</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; text-indent: 0.5in">6.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
undersigned agrees that until the Company consummates a Business Combination, the undersigned&#8217;s Founder Shares will be subject to
the transfer restrictions described in the Registration Rights Agreement related to the undersigned&#8217;s Founder Shares.</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; text-indent: 0.5in">7.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;In
order to minimize potential conflicts of interest which may arise from multiple affiliations, the undersigned agrees to present to the
Company for its consideration, prior to presentation to any other person or entity, any suitable opportunity to acquire a target business,
until the earlier of the execution of a merger agreement by the Company of a Business Combination or the liquidation of the Company, subject
to any pre-existing fiduciary and contractual obligations the undersigned might have.</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; text-indent: 0.5in">8.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
undersigned acknowledges and agrees that prior to entering into a Business Combination with a target business that is affiliated with
any Insiders of the Company or their affiliates, including any company that is a portfolio company of, or otherwise affiliated with, or
has received financial investment from, an entity with which any Insider or their affiliates is affiliated, such transaction must be approved
by a majority of the Company&#8217;s disinterested independent directors and the Company would obtain an opinion from an independent investment
banking firm or another independent firm that commonly renders valuation opinions or from independent accounting firm that our 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Except
as disclosed in the Company&#8217;s registration statement (the &#8220;Prospectus&#8221;) for the initial public offering of the Company&#8217;s
units, neither the undersigned, any member of the family of the undersigned, nor any affiliate of the undersigned will be entitled to
receive and will not accept any compensation or other cash payment for services rendered in connection with, the consummation of the Business
Combination;&nbsp;<U>provided</U>&nbsp;that the Company shall be allowed to repay working capital loans made by the undersigned to the
Company in cash upon consummation of the Business Combination. Notwithstanding the foregoing, the undersigned and any affiliate of the
undersigned shall be entitled to reimbursement from the Company for their out-of-pocket expenses incurred in connection with identifying,
investigating and consummating a Business Combination with approval from the Chief Financial Officer from proceeds held outside the Trust
Account.</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; text-indent: 0.5in">10.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Neither
the undersigned, any member of the family of the undersigned, nor any affiliate of the undersigned will be entitled to receive or accept
a finder&#8217;s fee or any other compensation in the event the undersigned, any member of the family of the undersigned or any affiliate
of the undersigned originates a 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; text-align: justify; text-indent: 0.5in">11.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
undersigned agrees to be a director/officer of the Company until the earlier of the consummation by the Company of a Business Combination
or the liquidation of the Company. The undersigned&#8217;s biographical information previously furnished to the Company and the Underwriter
is true and accurate in all material respects, does not omit any material information with respect to the undersigned&#8217;s biography
and contains all of the information required to be disclosed pursuant to Item 401 of Regulation S-K, promulgated under the Securities
Act of 1933. The undersigned&#8217;s FINRA Questionnaire previously furnished to the Company and the Underwriter is true and accurate
in all material respects. The undersigned represents and warrants that:</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; text-indent: 1in">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;He,
she or it has never had a petition under the federal bankruptcy laws or any state insolvency law been filed by or against (i)&nbsp;him,
her or it, or any partnership in which he or she was a general partner at or within two years before the time of filing; or (ii)&nbsp;any
corporation or business association of which he or she was an executive officer at or within two years before the time of such filing;</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; text-indent: 1in">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;He,
she or it has never had a receiver, fiscal agent or similar officer been appointed by a court for his business or property, or any such
partnership;</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; text-indent: 1in">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;He,
she or it has never been convicted of fraud in a civil or criminal proceeding;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>2</SUP> Applicable to A SPAC III (Holdings) Corp. only.</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: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 1in">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;He,
she or it has never been convicted in a criminal proceeding or named the subject of a pending criminal proceeding (excluding traffic violations
and minor offenses);</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; text-indent: 1in">(e)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;He,
she or it has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of
competent jurisdiction, permanently or temporarily enjoining or otherwise limiting him, her or it from (i)&nbsp;acting as a futures commission
merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction merchant, any other
person regulated by the Commodity Futures Trading Commission (&#8220;CFTC&#8221;) or an associated person of any of the foregoing, or
as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person, director or employee of any investment
company, bank, savings and loan association or insurance company, or from engaging in or continuing any conduct or practice in connection
with any such activity; or (ii)&nbsp;engaging in&nbsp;any type of business practice; or (iii)&nbsp;engaging in any activity in connection
with the purchase or sale of any security or commodity or in connection with any violation of federal or state securities or federal commodities
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; text-align: justify; text-indent: 1in">(f)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
He, she, or it has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any
federal or state authority barring, suspending or otherwise limiting for more than 60 days his, her or its right to engage in any
activity described in I l(e)(i)&nbsp;above, or to be associated with persons engaged in any such activity;</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; text-indent: 1in">(g)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;He,
she, or it has never been found by a court of competent jurisdiction in a civil action or by the SEC to have violated any federal or state
securities law, where the judgment in such civil action or finding by the SEC has not been subsequently reversed, suspended or vacated;</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; text-indent: 1in">(h)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;He,
she, or it has never been found by a court of competent jurisdiction in a civil action or by the CFTC to have violated any federal commodities
law, where the judgment in such civil action or finding by the CFTC has not been subsequently reversed, suspended or vacated;</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; text-indent: 1in">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
He, she, or it has never been the subject of, or a party to, any Federal, State or foreign judicial or administrative order,
judgment, decree or finding, not subsequently reversed, suspended or vacated, relating to an alleged violation of (i)&nbsp;any
Federal, State or foreign securities or commodities law or regulation, (ii)&nbsp;any law or regulation respecting financial
institutions or insurance companies including, but not limited to, a temporary or permanent injunction, order of disgorgement or
restitution, civil money penalty or temporary or permanent cease-and desist order, or removal or prohibition order or (iii)&nbsp;any
law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity;</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; text-indent: 1in">(j)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
He, she or it has never been the subject of, or party to, any sanction or order, not subsequently reversed, suspended or vacated, or
any self-regulatory organization, any registered entity, or any equivalent exchange, association, entity or organization that has
disciplinary authority over its members or persons associated with a member;</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; text-indent: 1in">(k)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;He,
she or it has never been convicted of any felony or misdemeanor: (i)&nbsp;in connection with the purchase or sale of any security; (ii)&nbsp;involving
the making of any false filing with the SEC; or (iii)&nbsp;arising out of the conduct of the business of an underwriter, broker, dealer,
municipal securities dealer, investment advisor or paid solicitor of purchasers of 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-align: justify; text-indent: 1in">(l)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
He, she or it was never subject to a final order of a state or foreign securities commission (or an agency of officer of a state
performing like functions); a state or foreign authority that supervises or examines banks, savings associations, or credit unions;
a state or foreign insurance commission (or an agency or officer of a state performing like functions); an appropriate federal or
foreign banking agency; the CFTC; or the National Credit Union Administration that is based on a violation of any law or regulation
that prohibits fraudulent, manipulative, or deceptive conduct;</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; text-indent: 1in">(m)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
He, she or it has never been subject to any order, judgment or decree of any court of competent jurisdiction, that, at the time of
the sale of the Units, restrained or enjoined him, her or it from engaging or continuing to engage in any conduct or practice:
(i)&nbsp;in connection with the purchase or sale of any security; (ii)&nbsp;involving the making of any false filing with the SEC or
any foreign regulatory agency with similar functions; or (iii)&nbsp;arising out of the conduct of the business of an underwriter,
broker, dealer, municipal securities dealer, investment adviser or paid solicitor of purchasers of 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"></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="break-before: page; 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: justify; text-indent: 1in">(n)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;He,
she or it has never been subject to any order of the SEC or any foreign regulatory agency with similar functions that orders him, her
or it to cease and desist from committing or causing a future violation of: (i)&nbsp;any scienter-based anti-fraud provision of the federal
securities laws, including, but not limited to, Section&nbsp;17(a)(1)&nbsp;of the Securities Act, Section&nbsp;10(b)&nbsp;of the Exchange
Act and Rule&nbsp;10b-5 thereunder, Section&nbsp;15(c)&nbsp;and Section&nbsp;206(1)&nbsp;of the Advisers Act or any other rule&nbsp;or
regulation thereunder; or (ii)&nbsp;Section&nbsp;5 of the Securities Act;</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; text-indent: 1in">(o)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;He,
she or it has never filed (as a registrant or issuer), or been named as an underwriter in any registration statement or Regulation A offering
statement filed with the SEC that was the subject of a refusal order, stop order, or order suspending the Regulation A exemption, or is,
currently, the subject of an investigation or proceeding to determine whether a stop order or suspension order should be issued;</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; text-indent: 1in">(p)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;He,
she or it has never been subject to a United States Postal Service false representation order, or is currently subject to a temporary
restraining order or preliminary injunction with respect to conduct&nbsp;alleged by the United States Postal Service to constitute a scheme
or device for obtaining money or property through the mail by means of false representations;</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; text-indent: 1in">(q)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;He,
she or it is not subject to a final order of a state securities commission (or an agency of officer of a state performing like functions);
a state authority that supervises or examines banks, savings associations, or credit unions; a state insurance commission (or an agency
or officer of a state performing like functions); an appropriate federal banking agency; the CFTC; or the National Credit Union Administration
that bars the undersigned from: (i)&nbsp;association with an entity regulated by such commission, authority, agency or officer; (ii)&nbsp;engaging
in the business of securities, insurance or banking; or (iii)&nbsp;engaging in savings association or credit union activities;</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; text-indent: 1in">(r)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;He,
she or it is not subject to an order of the SEC entered pursuant to section 15(b)&nbsp;or 15B(c)&nbsp;of the Securities Exchange Act of
1934 (the &#8220;Exchange Act&#8221;) or section 203(e)&nbsp;or 203(f)&nbsp;of the Investment Advisers Act of 1940 (the &#8220;Advisers
Act&#8221;) that: (i)&nbsp;suspends or revokes the undersigned&#8217;s registration as a broker, dealer, municipal securities dealer or
investment adviser; (ii)&nbsp;places limitations on the activities, functions or operations of, or imposes civil money penalties on, such
person; or (iii)&nbsp;bars the undersigned from being associated with any entity or from participating in the offering of any penny stock;
and</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; text-indent: 1in">(s)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;He,
she or it has never been suspended or expelled from membership in, or suspended or barred from association with a member of, a securities
self-regulatory organization (e.g., a registered national securities exchange or a registered national or affiliated securities association)
for any act or omission to act constituting conduct inconsistent with just and equitable principles of trade.</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; text-indent: 0.5in">12.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
undersigned has full right and power, without violating any agreement by which he, she or it is bound, to enter into this letter agreement
and to serve as a director and/or officer of the Company.</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; text-indent: 0.5in">13.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;In
the event the over-allotment option granted to the underwriters of the IPO is not exercised in full, the undersigned acknowledges and
agrees that it (and, if applicable, any transferee of any of the Class&nbsp;B Ordinary Shares purchased and issued to the undersigned
hereunder) shall forfeit any and all rights to such number of the Class&nbsp;B Ordinary Shares purchased and issued to the undersigned
hereunder (up to an aggregate of all of the 206,250 Class&nbsp;B Ordinary Shares so purchased and issued and pro rata based upon the percentage
of the over-allotment option exercised) such that immediately following such forfeiture, the undersigned (and any such transferees of
the undersigned) will own, in total, an aggregate number of the ordinary shares (not including the ordinary shares underlying any private
placement units (whether comprised in any such units or standing alone) that may be issued to the undersigned upon exercise of any securities
or rights purchased by the undersigned in the IPO or in the aftermarket) equal to 20% of the issued and outstanding ordinary shares of
the Company immediately following the IPO. If any of the Class&nbsp;B Ordinary Shares are forfeited in accordance with this clause 13,
then after such time the undersigned (or any successor in interest), shall no longer have any rights as a holder of such forfeited Class&nbsp;B
Ordinary Shares, and the Company shall take such action as is appropriate to redeem and cancel such forfeited Class&nbsp;B Ordinary Shares,
which may include by way of the compulsory redemption and cancellation of such Class&nbsp;B Ordinary Shares for nil consideration. In
addition, the undersigned hereby irrevocably grants the Company a limited power of attorney for the purpose of effectuating the foregoing
and agrees to take any and all action reasonably requested by the Company necessary to effect any adjustment in this clause 13 (including
any such redemption as is referred to herein above).<SUP>3</SUP></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; text-indent: 0.5in">14.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
undersigned hereby waives his, her or its right to exercise redemption rights with respect to any Ordinary Shares owned or to be owned
by the undersigned, directly or indirectly, whether purchased by the undersigned prior to the IPO, in the IPO or in the aftermarket, and
agrees that he, she or it will not seek redemption with respect to or otherwise sell, such shares in connection with any vote to approve
a Business Combination with respect thereto, a vote to amend the provisions of the Company&#8217;s Amended and Restated Memorandum and
Articles of Association, or a tender offer by the Company prior to a Business Combination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>3</SUP> Applicable to A SPAC III (Holdings) Corp. only.</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: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in">15.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
undersigned hereby agrees to not propose, or vote in favor of, an amendment to the Company&#8217;s Amended and Restated Memorandum and
Articles of Association with respect to the Company&#8217;s pre-Business Combination activities prior to the consummation of a Business
Combination unless the Company offers holders of IPO Shares the right to receive their pro rata portion of the funds then held in the
Trust Fund.</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; text-indent: 0.5in">16.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;In
connection with Section&nbsp;5-1401 of the General Obligations Law of the State of New York, this letter agreement shall be governed
by, and construed in accordance with, the laws of the State of New York without regard to principles of conflicts of law that would
result in the application of the substantive law of another jurisdiction. The parties hereto agree that any action, proceeding or
claim arising out of or relating in any way to this letter agreement shall be resolved through final and binding arbitration in
accordance with the International Arbitration Rules&nbsp;of the American Arbitration Association (&#8220;AAA&#8221;). The
arbitration shall be&nbsp;brought before the AAA International Center for Dispute Resolution&#8217;s offices in New York City, New
York, will be conducted in English and will be decided by a panel of three arbitrators selected from the AAA Commercial Disputes
Panel and that the arbitrator panel&#8217;s decision shall be final and enforceable by any court having jurisdiction over the party
from whom enforcement is sought. The cost of such arbitrators and arbitration services, together with the prevailing party&#8217;s
legal fees and expenses, shall be borne by the nonprevailing party or as otherwise directed by the arbitrators.</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; text-indent: 0.5in">17.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;As
used herein, (i)&nbsp;a&nbsp;<B><I>&#8220;Business Combination&#8221;</I></B>&nbsp;shall mean a merger, share exchange, asset acquisition,
contractual arrangement, share purchase, recapitalization, reorganization or other similar business combination with one or more businesses
or entities; (ii)&nbsp;<B><I>&#8220;Insiders &#8220;</I></B>&nbsp;shall mean all officers, directors and shareholders of the Company immediately
prior to the IPO; (iii)&nbsp;<B><I>&#8220;Insider Shares&#8221;</I></B>&nbsp;shall mean all of the Ordinary Shares of the Company acquired
by an Insider prior to the IPO and any Ordinary Shares underlying the Private Units; (iv)&nbsp;<B><I>&#8220;IPO Shares&#8221;</I></B>&nbsp;shall
mean the Ordinary Shares issued in the Company&#8217;s IPO; (v)&nbsp;<B><I>&#8220;Private Units&#8221;</I></B>&nbsp;shall mean (x)&nbsp;the
Units purchased in the private placement taking place simultaneously with the consummation of the Company&#8217;s IPO and (y)&nbsp;the
additional Units that may be purchased in connection with the exercise of the over-allotment option by the underwriters in the IPO as
described in the Registration Statement; (vi)&nbsp;<B><I>&#8220;Registration Statement&#8221;</I></B>&nbsp;means the registration statement
on Form&nbsp;S-1 filed by the Company with respect to the IPO; and (vii)&nbsp;<B><I>&#8220;Trust Fund&#8217;&#8221;</I></B>&nbsp;shall
mean the trust fund into which a portion of the net proceeds of the Company&#8217;s IPO will be deposited.</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; text-indent: 0.5in">18.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;Any
notice, consent or request to be given in connection with any of the terms or provisions of this letter agreement shall be in writing
and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery or
facsimile transmission.</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">If to the Underwriter:</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">Maxim Group LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">300 Park Avenue, 16th Floor<BR>
New York, New York 10022<BR>
Attn.: James Siegel, General Counsel</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Email:&nbsp;<U><U>j</U>siegel@maximgrp.com</U><BR>
Fax No.&nbsp;(212) 895-3860</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">with a copy (which copy shall not constitute notice)
to:</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">Ellenoff Grossman&nbsp;&amp; Schole LLP<BR>
1345 Avenue of the Americas, 11th Fl.<BR>
New York, New York 10105<BR>
Attn: Joan Adler<BR>
Email: jadler@egsllp.com<BR>
Fax No.: (212) 3707889</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">If to the Company:</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">A SPAC III Acquisition Corp.<BR>
29/F, Sun&#8217;s Group Center</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">200 Gloucester Road<BR>
Wan Chai, Hong Kong<BR>
Attn: Claudius Tsang, Chief Executive Officer</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: 5 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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">with a copy (which copy shall not constitute notice) to:</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">Loeb&nbsp;&amp; Loeb LLP<BR>
345 Park Avenue<BR>
New York, NY 10154<BR>
Attn: Giovanni Caruso,&nbsp;Esq.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Email:&nbsp;<U>gcaruso@loeb.com</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Phone: (212) 407-4000</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; text-indent: 0.5in">19.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;No
party hereto may assign either this letter agreement or any of its rights, interests, or obligations hereunder without the prior written
consent of the other party. Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not operate
to transfer or assign any interest or title to the purported assignee. This letter agreement shall be binding on the parties hereto and
any successors and assigns thereof.</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; text-indent: 0.5in">20.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
undersigned acknowledges and understands that the Underwriters and the Company will rely upon the agreements, representations and warranties
set forth herein in proceeding with the IPO.</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: center">[Signature Page&nbsp;Follows]</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: 6 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sincerely,</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>A SPAC III (HOLDINGS) CORP.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 50%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Claudius Tsang</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Authorized Signatory</FONT></TD></TR>
  </TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; background-color: white">
<TD>&nbsp;</TD>
<TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD>&nbsp;</TD>
<TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Claudius Tsang</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD>&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD>&nbsp;</TD>
<TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD>&nbsp;</TD>
<TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liu Xiangge</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD>&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD>&nbsp;</TD>
<TD COLSPAN="2" STYLE="border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD>&nbsp;</TD>
<TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Wong Yi Dung Eden</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD>&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD>&nbsp;</TD>
<TD COLSPAN="2" STYLE="border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD>&nbsp;</TD>
<TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pang Wai Yuen Marvin</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD>&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD>&nbsp;</TD>
<TD COLSPAN="2"><B>A SPAC III ACQUISITION CORP.</B></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD>&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD>&nbsp;</TD>
<TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Acknowledged and Agreed:</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD>&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD STYLE="width: 45%">&nbsp;</TD>
<TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
<TD STYLE="border-bottom: black 1pt solid; width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Claudius Tsang</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: Chief Executive Officer</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD>&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD>&nbsp;</TD>
<TD COLSPAN="2"><B>MAXIM GROUP LLC</B></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD>&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD>&nbsp;</TD>
<TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Acknowledged and Agreed:</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD>&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD>&nbsp;</TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
<TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: [</FONT><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">]</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: [</FONT><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">]</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; text-align: center">[Signature Page&nbsp;to Letter 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"></P>

<!-- Field: Page; Sequence: 7; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>8
<FILENAME>filename8.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.3</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INVESTMENT MANAGEMENT TRUST AGREEMENT</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-align: justify; text-indent: 0.5in">This Investment Management
Trust Agreement (this &ldquo;Agreement&rdquo;) is made effective as of [&bull;], 2024 by and between A SPAC III Acquisition Corp., a British
Virgin Islands company (the &ldquo;Company&rdquo;), and Continental Stock Transfer&nbsp;&amp; Trust Company, as New York corporation (&ldquo;Trustee&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; text-align: justify; text-indent: 0.5in">WHEREAS, the Company&rsquo;s
registration statement on Form&nbsp;S-1, No.&nbsp;333-[____________] (the &ldquo;Registration Statement&rdquo;) and prospectus (the &ldquo;Prospectus&rdquo;)
for the initial public offering of the Company&rsquo;s units (the &ldquo;Units&rdquo;), each of which consists of one share of the Company&rsquo;s
Class&nbsp;A ordinary shares, no par value (the &ldquo;Ordinary Shares&rdquo;) and one right to receive one-fourth (1/4) of one Class&nbsp;A
ordinary share (such initial public offering hereinafter referred to as the &ldquo;IPO&rdquo;) has been declared effective as of the date
hereof (&ldquo;Effective Date&rdquo;) by the U.S. Securities and Exchange Commission (capitalized terms used herein and not otherwise
defined shall have the meanings set forth in the Registration Statement);</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; text-indent: 0.5in">WHEREAS, the Company has entered
into an Underwriting Agreement, dated [<FONT STYLE="font-family: Symbol">&middot;</FONT>], 2024 (the &ldquo;Underwriting Agreement&rdquo;),&nbsp;with
Maxim Group LLC (&ldquo;Maxim&rdquo;) acting as the Representative (as defined in the Underwriting Agreement) in the IPO;</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; text-indent: 0.5in">WHEREAS, if a Business Combination
is not consummated within the initial 12 month period following the closing of the IPO, the Company&rsquo;s sponsor or its affiliates
or designees, upon two days advance notice prior to the anniversary dates described below, may extend such period two times by an additional
three-months each time, up to a maximum of 18 months in the aggregate, by depositing $550,000 (or $632,500 if the Underwriters&rsquo;
over-allotment option is exercised in full) into Trust Account (as defined below) no later than the 12 month anniversary of the IPO or
the 15 month anniversary of the IPO (each, an &ldquo;Applicable Deadline&rdquo;), as applicable, for each three-month extension (each,
an &ldquo;Extension&rdquo;), in exchange for which they will receive promissory notes;</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; text-indent: 0.5in">WHEREAS, as described in the
Registration Statement, and in accordance with the Company&rsquo;s Amended and Restated Memorandum and Articles of Association, $55,000,000
of the gross proceeds of the IPO (up to $63,250,000 if the over-allotment option is exercised in full) and a private placement taking
place simultaneously therewith, plus any amount eventually deposited on account of any Extension, will be delivered to the Trustee to
be deposited and held in the Trust Account for the benefit of the Company and the holders of the Company&rsquo;s ordinary shares, no par
value, issued in the IPO as hereinafter provided (the proceeds to be delivered to the Trustee, including the proceeds from any loans in
connection with an Extension, if any, will be referred to herein as the &ldquo;Property&rdquo;; the shareholders for whose benefit the
Trustee shall hold the Property will be referred to as the &ldquo;Public Shareholders,&rdquo; and the Public Shareholders and the Company
will be referred to together as the &ldquo;Beneficiaries&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; text-align: justify; text-indent: 0.5in">WHEREAS, pursuant to the Underwriting
Agreement, the Company agreed to issue to Maxim Partners LLC 247,500, or 284,625 if the Underwriters&rsquo; over-allotment option is exercised
in full, Class&nbsp;A ordinary shares at the closing of the initial public offering ; and</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; text-indent: 0.5in">WHEREAS, the Company and the
Trustee desire to enter into this Agreement to set forth the terms and conditions pursuant to which the Trustee shall hold the 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; text-align: justify; text-indent: 0.5in">NOW THEREFORE,&nbsp;IT IS
AGREED:</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">1.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Agreements
and Covenants of Trustee</U>. The Trustee hereby agrees and covenants to:</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; text-indent: 0.5in">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Hold
the Property in trust for the Beneficiaries in accordance with the terms of this Agreement in a segregated trust account (&ldquo;Trust
Account&rdquo;), which Trust Account shall be established by the Trustee in the United States at Morgan Stanley Smith Barney LLC (or at
another U.S. chartered commercial bank with consolidated assets of $100 billion or more) in the United States, maintained by Trustee,
and at a brokerage institution selected by the Trustee that is reasonably satisfactory to the Company;</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; text-indent: 0.5in">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Manage,
supervise and administer the Trust Account subject to the terms and conditions set forth 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; text-align: justify; text-indent: 0.5in">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;In
a timely manner, upon the written instruction of the Company, invest and reinvest the Property solely in United States government securities
within the meaning of Section&nbsp;2(a)(16) of the Investment Company Act of 1940, as amended (the &ldquo;Investment Company Act&rdquo;),
having a maturity of 185 days or less, or in money market funds meeting the conditions of paragraphs (d)&nbsp;(1), (d)(2), (d)(3)&nbsp;and
(d)(4)&nbsp;of Rule&nbsp;2a-7 promulgated under the Investment Company Act (or any successor rule), which invest only in direct U.S. government
treasury obligations, or held as cash or cash items (including in demand deposit accounts) at banks, in each case, as determined by the
Company; it being understood that the Trust Account will earn no interest while account funds are uninvested awaiting the Company&rsquo;s
instructions hereunder and while the account funds are invested or uninvested, the Trustee may earn bank credits or other consideration
during such periods;</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: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Collect
and receive, when due, all principal, interest or other income arising from the Property, which shall become part of the &ldquo;Property,&rdquo;
as such term is used 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; text-align: justify; text-indent: 0.5in">(e)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Promptly
notify the Company and Maxim of all communications received by the Trustee with respect to any Property requiring action by the Company;</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; text-indent: 0.5in">(f)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Supply
any necessary information or documents as may be requested by the Company (or its authorized agents) in connection with the Company&rsquo;s
preparation of the tax returns relating to assets held in the Trust Account;</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; text-indent: 0.5in">(g)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Participate
in any plan or proceeding for protecting or enforcing any right or interest arising from the Property if, as and when instructed by the
Company to do so;</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; text-indent: 0.5in">(h)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Render
to the Company, and to such other person as the Company may instruct, monthly written statements of the activities of and amounts in the
Trust Account reflecting all receipts and disbursements of the Trust Account; and</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; text-indent: 0.5in">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Commence
liquidation of the Trust Account only after and promptly after (x)&nbsp;receipt of, and only in accordance with, the terms of a letter
from the Company (&ldquo;Termination Letter&rdquo;), in a form substantially similar to that attached hereto as either Exhibit&nbsp;A
or Exhibit&nbsp;B, as applicable, signed on behalf of the Company by its Chief Executive Officer, Chief Financial Officer, President,
Executive Vice President, Vice President, Secretary, Treasurer or Chairman of the board of directors of the Company (the &ldquo;Board&rdquo;)
or other authorized officer of the Company and, in the case of&nbsp;<U>Exhibit&nbsp;A</U>, acknowledged and agreed to by the Representative,
and complete the liquidation of the Trust Account and distribute the Property in the Trust Account, including interest not previously
released to the Company to pay its taxes or to fund the Company&rsquo;s working capital requirements (less up to $100,000 of interest
that may be released to the Company to pay dissolution expenses in the case of a Termination Letter in the form of Exhibit&nbsp;B hereto),
only as directed in the Termination Letter and the other documents referred to therein; or (y)&nbsp;upon the date which is, the later
of (1)&nbsp;12 months after the closing of the IPO and (2)&nbsp;such later date as may be approved by the Company&rsquo;s shareholders
in accordance with the Company&rsquo;s Amended and Restated Memorandum and Articles of Association if a Termination Letter has not been
received by the Trustee by the 12-month anniversary of the closing of the IPO (&ldquo;Closing&rdquo;) or, in the event that the Company
extended the time to complete the Business Combination for up to 15 or 18 months from the closing of the IPO but has not completed the
Business Combination within such 15- or 18-month period, the 15- or 18-month anniversary of the Closing (as applicable, the &ldquo;Last
Date&rdquo;), the Trust Account shall be liquidated in accordance with the procedures set forth in the Termination Letter attached hereto
as Exhibit&nbsp;B hereto and the Property in the Trust Account, including interest not previously released to the Company to pay its taxes
or to fund the Company&rsquo;s working capital requirements (less up to $100,000 of interest that may be released to the Company to pay
dissolution expenses) shall be distributed to the Public Shareholders as of the Last Date;</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; text-indent: 0.5in">(j)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Upon
written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto as Exhibit&nbsp;C,
withdraw from the Trust Account and distribute to the Company the amount of interest earned on the Property requested by the Company to
(i) cover any tax obligation owed by the Company as a result of assets of the Company or interest or other income earned on the Property
or to (ii) fund the Company&rsquo;s working capital requirements, which amount shall be delivered directly to the Company by electronic
funds transfer or other method of prompt payment, and the Company shall forward such payment to the relevant taxing authority; provided,
however, that to the extent there is not sufficient cash in the Trust Account to pay such tax obligation, the Trustee shall liquidate
such assets held in the Trust Account as shall be designated by the Company in writing to make such distribution, so long as such distribution
shall not result in a reduction in the principal amount per share initially deposited in the Trust Account (plus the amount per share
deposited in the Trust Account pursuant to any Extension Letter); provided, further, that if the tax to be paid is a franchise tax, the
written request by the Company to make such distribution shall be accompanied by a copy of the franchise tax bill from the British Virgin
Islands for the Company (it being acknowledged and agreed that any such amount in excess of interest income earned on the Property shall
not be payable from the Trust Account). The written request of the Company referenced above shall constitute presumptive evidence that
the Company is entitled to said funds, and the Trustee shall have no responsibility to look beyond said request.</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: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in">(k)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Upon
written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto as Exhibit&nbsp;D,
distribute on behalf of the Company the amount requested by the Company to be used to redeem Ordinary Shares from Public Shareholders
properly submitted&nbsp;for redemption in connection with a shareholder vote to approve (i)&nbsp;an amendment to the Amended and Restated
Memorandum and Articles of Association to modify the substance or timing of the ability of Public Shareholders to seek redemption in connection
with an initial Business Combination or the Company&rsquo;s obligation to redeem 100% of its public shares of Ordinary Shares if the Company
has not consummated an initial Business Combination within such time as is described in the Amended and Restated Memorandum and Articles
of Association or (ii)&nbsp;an amendment with respect to any other provision of the Amended and Restated Memorandum and Articles of Association
relating to shareholders&rsquo; rights or pre-initial Business Combination activity. The written request of the Company referenced above
shall constitute presumptive evidence that the Company is entitled to distribute said funds, and the Trustee shall have no responsibility
to look beyond said request;</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; text-indent: 0.5in">(l)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Upon
receipt of an extension letter (&ldquo;Extension Letter&rdquo;) substantially similar to Exhibit&nbsp;E hereto at least two calendar days
prior to the Applicable Deadline, signed on behalf of the Company by an executive officer, and receipt of the dollar amount specified
in the Extension Letter on or prior to the Applicable Deadline, to follow the instructions set forth in the Extension Letter.</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; text-indent: 0.5in">(m)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Not
disburse any amounts from the Trust Account in connection with a Business Combination in the event that the amount per share to be received
by the redeeming Public Shareholders is less than $10.00 per share (plus the amount per share deposited in the Trust Account pursuant
to any Extension Letter).</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; text-indent: 0.5in">(n)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;In
connection with a Business Combination, before making disbursements to the Depository Trust Company, the Company or any other person,
disburse the per share amount to redeeming Public Shareholders (other than shares tendered through the Depository Trust Company) that
have tendered their shares directly to the Trustee.</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; text-indent: 0.5in">(o)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Promptly
acknowledge and comply with any irrevocable instruction letter delivered in the form of Exhibit&nbsp;F delivered by the Company in connection
with the disbursement of funds to a Public Shareholder.</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; text-indent: 0.5in">(p)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Promptly
acknowledge, in writing to any redeeming Public Shareholder and the Company, any irrevocable instruction letter in the form of Exhibit&nbsp;G
delivered by such redeeming Public Shareholder after the announcement by the Company of a proposed Business Combination and promptly comply
with any irrevocable written instruction letter in the form of Exhibit&nbsp;G delivered by such Public Shareholder in connection with
the disbursement of funds to such Public Shareholder if the Company has not notified the Trustee in writing during the Objection Period
that such irrevocable written instruction letter is a Non-Compliant Instruction Letter (as defined below);and</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; text-indent: 0.5in">(g)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Not
make any withdrawals or distributions from the Trust Account other than pursuant to Section&nbsp;1 (i), (j), or (k)&nbsp;above.</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">2.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Limited
Distributions of Income from Trust Account</U>.</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; text-indent: 0.5in">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Upon
written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto as Exhibit&nbsp;C,
the Trustee shall distribute to the Company the amount of interest income earned on the Trust Account requested by the Company to cover
any income or other tax obligation owed by the Company or to fund the Company&rsquo;s working capital requirements.</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; text-indent: 0.5in">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
limited distributions referred to in Section&nbsp;2(a)&nbsp;above shall be made only from income collected on the Property. Except as
provided in Section&nbsp;2(a), no other distributions from the Trust Account shall be permitted except in accordance with Section&nbsp;1
(i), Section&nbsp;1 (j)&nbsp;or Section&nbsp;1 (k)&nbsp;hereof.</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: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Company shall provide Maxim with a copy of any Termination Letters and/or any other correspondence that it issues to the Trustee with
respect to any proposed withdrawal from the Trust Account promptly after such issuance.</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; text-indent: 0.5in">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Company shall, promptly following the Applicable Deadline, disclose whether or not the term the Company has to consummate a Business Combination
has been extended.</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">3.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Agreements
and Covenants of the Company</U>. The Company hereby agrees and covenants to:</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; text-indent: 0.5in">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Give
all instructions to the Trustee hereunder in writing, signed by the Company&rsquo;s Chairman of the Board, Chief Executive Officer,
Chief Financial Officer, President, Executive Vice President, Vice President, Treasurer or Secretary. In addition, except with
respect to its duties under Sections 1 (i), 1 (j), 1 (k), 2(a)&nbsp;and 2(b)&nbsp;hereof, the Trustee shall be entitled to rely on,
and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable
care, believes to be given by any one of the&nbsp;persons authorized above to give written instructions, provided that the Company
shall promptly confirm such instructions in writing;</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; text-indent: 0.5in">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Subject
to the provisions of Sections 5 and 7(g)&nbsp;of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against,
any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action
taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or
in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder,
or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee&rsquo;s gross negligence,
fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action,
suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section&nbsp;3(b), it shall notify the Company
in writing of such claim (hereinafter referred to as the &ldquo;Indemnified Claim&rdquo;). The Trustee shall have the right to conduct
and manage the defense against such Indemnified Claim; provided, that the Trustee shall obtain the consent of the Company with respect
to the selection of counsel, which such consent shall not be unreasonably withheld. The Trustee may not agree to settle any Indemnified
Claim without the prior written consent of the Company, which consent shall not be unreasonably withheld or delayed. The Company may participate
in such action with its own counsel;</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; text-indent: 0.5in">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Pay
the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee, and transaction processing
fee which fees shall be subject to modification by the parties from time to time. It is expressly understood that the Property shall not
be used to pay such fee unless and until the closing of the Business Combination. The Company shall pay the Trustee the initial acceptance
fee and the first annual administration fee at the consummation of the IPO. The Company shall not be responsible for any other fees or
charges of the Trustee except as set forth in this Section&nbsp;3(c), Schedule A and as may be provided in Section&nbsp;3(b)&nbsp;hereof;</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; text-indent: 0.5in">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;In
connection with any vote of the Company&rsquo;s shareholders regarding a Business Combination, provide to the Trustee an affidavit or
certificate of a firm regularly engaged in the business of soliciting proxies and/or tabulating shareholder votes verifying the vote of
the Company&rsquo;s shareholders regarding such 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; text-align: justify; text-indent: 0.5in">(e)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;In
the event that the Company directs the Trustee to commence liquidation of the Trust Account pursuant to Section&nbsp;1 (i), the Company
agrees that it will not direct the Trustee to make any payments that are not specifically authorized by this 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; text-align: justify; text-indent: 0.5in">(f)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Upon
receiving the written request of a Public Shareholder to do so at any time after the date hereof, provide such Public Shareholder with
a copy of any instruction provided to the Trustee pursuant to Section&nbsp;l(i), Section&nbsp;l(j)&nbsp;or Section&nbsp;1 (k)&nbsp;along
with any Notification (as defined in Exhibit&nbsp;A),&nbsp;Instruction Letter (as defined in Exhibit&nbsp;A), applicable flow of funds
memorandum (or similar document), or any other notice delivered to the Trustee by the Company regarding the disbursement of Property from
the Trust Account resulting in the Property left in the Trust Account being less than $55,000,000 (or $63,250,000 if the Underwriters&rsquo;
over-allotment option is exercised in full) plus any amount eventually deposited on account of any Extension, which, in each case, shall
specify to whom the Property shall be disbursed (such written notice, a &ldquo;Disbursement Notice&rdquo; and the date such Public Shareholder
receives a Disbursement Notice, a &ldquo;Disbursement Notice Date&rdquo;). Each Disbursement Notice shall be delivered to such Public
Shareholder at least two business days prior to the disbursement of any Property pursuant to Section&nbsp;1 (i)&nbsp;or Section&nbsp;1
(j)&nbsp;and no Property shall be disbursed from the Trust Account prior to the date that is two business days from the applicable Disbursement
Notice Date.</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: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in">(g)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;At
the request of any Public Shareholder who has removed shares from street name and holds such shares either in certificated or book-entry
form and, except if such shares are held in book-entry form, delivered such certificated shares to the Trustee for purposes of redemption
in connection with a Business Combination, concurrently with the delivery of such shares, solely if such shares are certificated, to the
Trustee, send an irrevocable written instruction letter in the form of Exhibit&nbsp;F to the Trustee directing the Trustee to disburse
no less than $10.00 per share (plus the amount per share deposited in the Trust Account pursuant to any Extension Letter) to such Public
Shareholder.</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; text-indent: 0.5in">(h)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Following
receipt of a copy of an irrevocable written instruction letter in the form of Exhibit&nbsp;G delivered by a Public Shareholder who has
removed shares from street name and holds such shares either in certificated or book-entry form and, except if such shares are held in
book-entry form, delivered such certificated shares to the Trustee for purposes of redemption in connection with a Business Combination
to the Trustee, review such letter to confirm (i)&nbsp;such letter is in the form of Exhibit&nbsp;G, (ii)&nbsp;a Business Combination
has been announced on or prior to the date of such letter and (iii)&nbsp;the number of ordinary shares set forth on such letter to be
redeemed is not greater than the number of ordinary shares held by the applicable Public Shareholder. Solely if the Company cannot confirm
the requirements of clauses (i)&nbsp;through (iii)&nbsp;of this Section&nbsp;3(h), but not for any other reason, then&nbsp;within two
days of the Company&rsquo;s receipt of the applicable copy of the irrevocable written instruction letter in the form of Exhibit&nbsp;G
(such time period, the &ldquo;Objection Period&rdquo;), the Company will notify the applicable Public Shareholder and the Trustee in writing
that such irrevocable written instruction letter is a &ldquo;Non-Compliant Instruction Letter&rdquo; and that the Trustee shall not comply
with such letter.</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">4.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Limitations
of Liability</U>. The Trustee shall have no responsibility or liability to:</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; text-indent: 0.5in">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Imply
obligations, perform duties, inquire or otherwise be subject to the provisions of any agreement or document other than this Agreement
and that which is expressly set forth 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; text-align: justify; text-indent: 0.5in">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Take
any action with respect to the Property, other than as directed in Section&nbsp;1 and 2 hereof and the Trustee shall have no liability
to any third party except for liability arising out of the Trustee&rsquo;s own gross negligence, fraud or willful misconduct;</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; text-indent: 0.5in">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Institute
any proceeding for the collection of any principal and income arising from, or institute, appear in or defend any proceeding of any kind
with respect to, any of the Property unless and until it shall have received instructions from the Company given as provided herein to
do so and the Company shall have advanced or guaranteed to it funds sufficient to pay any expenses incident thereto;</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; text-indent: 0.5in">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Change
the investment of any Property, other than in compliance with Section&nbsp;1(c);</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; text-indent: 0.5in">(e)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Refund
any depreciation in principal of any 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; text-align: justify; text-indent: 0.5in">(f)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Assume
that the authority of any person designated by the Company to give instructions hereunder shall not be continuing unless provided otherwise
in such designation, or unless the Company shall have delivered a written revocation of such authority to the Trustee;</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; text-indent: 0.5in">(g)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
other parties hereto or to anyone else for any action taken or omitted by it, or any action suffered by it to be taken or omitted, in
good faith and in the Trustee&rsquo;s best judgment, except for the Trustee&rsquo;s gross negligence, fraud or willful misconduct. The
Trustee may rely conclusively and shall be protected in acting upon any order, notice, demand, certificate, opinion or advice of counsel
(including counsel chosen by the Trustee, which counsel may be the Company&rsquo;s counsel), statement, instrument, report or other paper
or document (not only as to its due execution and the validity and effectiveness of its provisions, but also as to the truth and acceptability
of any information therein contained) which the Trustee believes, in good faith and with reasonable care, to be genuine and to be signed
or presented by the proper person or persons. The Trustee shall not be bound by any notice or demand, or any waiver, modification, termination
or rescission of this Agreement or any of the terms hereof, unless evidenced by a written instrument delivered to the Trustee signed by
the proper party or parties and, if the duties or rights of the Trustee are affected, unless it shall give its prior written consent thereto;</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; text-indent: 0.5in">(h)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Verify
the accuracy of the information contained in the Registration Statement;</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: 5 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Provide
any assurance that any Business Combination entered into by the Company or any other action taken by the Company is as contemplated by
the Registration Statement;</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; text-indent: 0.5in">(j)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;File
local, state and/or federal tax returns or information returns with any taxing authority on behalf of the Trust Account and payee statements
with the Company documenting the taxes, if any, payable by the Company or the Trust Account, relating to the income earned on the 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; text-align: justify; text-indent: 0.5in">(k)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Pay
any taxes on behalf of the Trust Account (it being expressly understood that the Property shall not be used to pay any such taxes and
that such taxes, if any, shall be paid by the Company from funds not held in the Trust Account or released to it under Section&nbsp;2(a)&nbsp;hereof);
and</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; text-indent: 0.5in">(l)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Verify
calculations, qualify or otherwise approve the Company&rsquo;s written requests for distributions pursuant to Section&nbsp;1(i). Section&nbsp;l(j),
Section&nbsp;1(k), 2(a)&nbsp;or 2(b)&nbsp;above.</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">5.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Trust
Account Waiver</U>. The Trustee has no right of set-off or any right, title, interest or claim of any kind (&ldquo;Claim&rdquo;) to, or
to any monies in, the Trust Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust Account that it may have
now or in the future. In the event the Trustee has any Claim against the Company under this Agreement, including, without limitation,
under Section&nbsp;3(b)&nbsp;or Section&nbsp;3(c)&nbsp;hereof, the Trustee shall pursue such Claim solely against the Company and its
assets outside the Trust Account and not against the Property or any monies in the Trust Account.</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">6.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Termination</U>.
This Agreement shall terminate as follows:</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; text-indent: 0.5in">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;If
the Trustee gives written notice to the Company that it desires to resign under this Agreement, the Company shall use its reasonable efforts
to locate a successor trustee pending which the Trustee shall continue to act in accordance with this Agreement. At such time that the
Company notifies the Trustee that a successor trustee has been appointed by the Company and has agreed to become subject to the terms
of this Agreement, the Trustee shall transfer the management of the Trust Account to the successor trustee, including but not limited
to the transfer of copies of the reports and statements relating to the Trust Account, whereupon this Agreement shall terminate; provided,
however, that, in the event that the Company does not locate a successor trustee within ninety (90) days of receipt of the resignation
notice from the Trustee, the Trustee may submit an application to have the Property deposited with any court in the State of New York
or with the United States District Court for the Southern District of New York and upon such deposit, the Trustee shall be immune from
any liability whatsoever; or</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; text-indent: 0.5in">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;At
such time that the Trustee has completed the liquidation of the Trust Account and its obligations in accordance with the provisions of
Section&nbsp;1 (i)&nbsp;hereof, and distributed the Property in accordance with the provisions of the Termination Letter, this Agreement
shall terminate except with respect to Section&nbsp;3(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-align: justify">7.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Miscellaneous</U>.</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; text-indent: 0.5in">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Company and the Trustee each acknowledge that the Trustee will follow the security procedures set forth below with respect to funds transferred
from the Trust Account. The Company and the Trustee will each restrict access to confidential information relating to such security procedures
to authorized persons. Each party must notify the other party immediately if it has reason to believe unauthorized persons may have obtained
access to such confidential information, or of any change in its authorized personnel. In executing funds transfers, the Trustee shall
rely upon all information supplied to it by the Company, including account names, account numbers, and all other identifying information
relating to a beneficiary, beneficiary&rsquo;s bank or intermediary bank. Except for any liability arising out of the Trustee&rsquo;s
gross negligence, fraud or willful misconduct, the Trustee shall not be liable for any loss, liability or expense resulting from any error
in the information or transmission of the funds.</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; text-indent: 0.5in">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;This
Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without giving
effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. This
Agreement may be executed in several original or facsimile counterparts, each one of which shall constitute an original, and
together shall constitute but one instrument.</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; text-indent: 0.5in">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;This
Agreement contains the entire agreement and understanding of the parties hereto with respect to the subject matter hereof. Except for
Sections 1 (i), 1 (j), 1 (k), 3(a), 3(b),&nbsp;7(a)&nbsp;and 7(b)&nbsp;(which may only be amended with the approval of the holders of
at least 50% or more of all then outstanding ordinary shares, no par value, of the Company voting together as a single class, provided
that all Public Shareholders must be given the right to receive a pro-rata portion of the trust account (no less than $10.00 per share
plus the amount per share deposited in the Trust Account pursuant to any Extension Letter) in connection with any such amendment), this
Agreement or any provision hereof may only be changed, amended or modified by a writing signed by each of the parties hereto; provided,
however, that no such change, amendment or modification may be made without the prior written consent of Maxim. As to any claim, cross-claim
or counterclaim in any way relating to this Agreement, each party waives the right to trial by jury. The Trustee may require from Company
counsel an opinion as to the propriety of any proposed 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: 6 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
parties hereto consent to the jurisdiction and venue of any state or federal court located in the City of New York, State of New York,
for purposes of resolving any disputes hereunder. AS TO ANY CLAIM, CROSS-CLAIM OR COUNTERCLAIM IN ANY WAY RELATING TO THIS AGREEMENT,
EACH PARTY WAIVES THE RIGHT TO TRIAL BY JURY.</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; text-indent: 0.5in">(e)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Any
notice, consent or request to be given in connection with any of the terms or provisions of this Agreement shall be in writing and shall
be sent by express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery or by electronic
mail:</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; text-indent: 0.5in">if to the Trustee, to:</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 1in; text-align: justify">Continental Stock Transfer&nbsp;&amp;
Trust Company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">1 State Street, 30<SUP>th</SUP>&nbsp;Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">New York, NY 10004</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Attn: Francis Wolf and Celeste Gonzales</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Email:&nbsp;<U>fwolf@continentalstock.com</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Email:&nbsp;cgonzalez@continentalstock.com</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; text-indent: 0.5in">if to the Company, to:</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 1in; text-align: justify">A SPAC III Acquisition Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">29/F, Sun&rsquo;s Group Center</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">200 Gloucester Road</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Wan Chai</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Hong Kong</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Attn: Claudius Tsang</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; text-indent: 0.5in">in either case with a copy
(which copy shall not constitute notice) to:</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 1in; text-align: justify">Maxim Group LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">300 Park Avenue, 16th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">New York, New York 10022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Attn.: James Siegel, General Counsel</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Email:&nbsp;<U>jsiegel@maximgrp.com</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">Fax No.&nbsp;(212) 895-3860</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; text-indent: 0.5in">and</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 1in">Loeb&nbsp;&amp; Loeb LLP<BR>
345 Park Avenue<BR>
New York, New York 10154<BR>
Attn: Giovanni Caruso,&nbsp;Esq.<BR>
Fax No.: (212)407-4990</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; text-indent: 0.5in">and</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 1in">Ellenoff Grossman &amp; Schole LLP<BR>
1345 Avenue of the Americas, 11th Fl.<BR>
New York, New York 10105<BR>
Attn: Joan Adler<BR>
Email: jadler@egsllp.com<BR>
Fax No.: (212) 3707889</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: 7 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in">(f)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Each
of the Company and the Trustee hereby represents that it has the full right and power and has been duly authorized to enter into this
Agreement and to perform its respective obligations as contemplated hereunder. The Trustee acknowledges and agrees that it shall not make
any claims or proceed against the Trust Account, including by way of set-off, and shall not be entitled to any funds in the Trust Account
under any circumstance.</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; text-indent: 0.5in">(g)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;This
Agreement is the joint product of the Trustee and the Company and each provision hereof has been subject to the mutual consultation, negotiation
and agreement of such parties and shall not be construed for or against any party hereto.</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; text-indent: 0.5in">(h)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;This
Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts shall
together constitute one and the same instrument. Delivery of a signed counterpart of this Agreement by facsimile or electronic transmission
shall constitute valid and sufficient delivery thereof.</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; text-indent: 0.5in">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Each
of the Company and the Trustee hereby acknowledges and agrees that the Representatives, on behalf of the Underwriters, is a third party
beneficiary of this 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; text-align: justify; text-indent: 0.5in">(j)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Except
as specified herein, no party to this Agreement may assign its rights or delegate its obligations hereunder without the prior written
consent of the other person or entity.</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: 8 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the parties
have duly executed this Investment Management Trust Agreement as of the date first written above.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt">CONTINENTAL STOCK TRANSFER&nbsp;&amp; TRUST COMPANY, as Trustee</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Francis Wolf</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Vice President</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt">A SPAC III ACQUISITION CORP</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="width: 42%"><FONT STYLE="font-size: 10pt">Claudius Tsang</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Chief Executive Officer</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"></P>

<!-- Field: Page; Sequence: 9 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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>SCHEDULE A</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: #D9D9D9">
<TD STYLE="width: 28%; border: black 1pt solid; padding: 3pt 5.4pt">Fee Item</TD>
<TD STYLE="width: 53%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 3pt 5.4pt">Time and method of payment</TD>
<TD STYLE="width: 19%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 3pt 5.4pt">Amount</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 3pt 5.4pt">Initial acceptance fee</TD>
<TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 3pt 5.4pt">Initial closing of IPO by wire transfer</TD>
<TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 3pt 5.4pt">$3,500.00</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 3pt 5.4pt">Annual fee</TD>
<TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 3pt 5.4pt">First year, initial closing of IPO by wire transfer; thereafter on the anniversary of the effective date of the IPO by wire transfer or check</TD>
<TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 3pt 5.4pt">$10,000.00</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 3pt 5.4pt">Transaction processing fee for disbursements to Company under Section&nbsp;2</TD>
<TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 3pt 5.4pt">Billed to Company following disbursement made to Company under Section&nbsp;2</TD>
<TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 3pt 5.4pt">$250.00</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 3pt 5.4pt">Paying Agent services as required pursuant to Section&nbsp;1</TD>
<TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 3pt 5.4pt">Billed to Company upon delivery of service pursuant to Section&nbsp;1</TD>
<TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 3pt 5.4pt">Prevailing rates</TD></TR>
</TABLE>

<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: right"></P>

<!-- Field: Page; Sequence: 10 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">EXHIBIT&nbsp;A</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: center"><B>[Letterhead of 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-align: center"><B>[Insert date]</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-align: justify">Continental Stock Transfer&nbsp;&amp; Trust Company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">1 State Street, 30<SUP>th</SUP>&nbsp;Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">New York, N.Y. 10004</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Attn: Francis Wolf and Celeste Gonzalez&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 0pt 1in; text-align: justify">Re:&#8239;&#8239;&#8239;&#8239;&#8239;<U>Trust
Account - Termination Letter</U></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">Ladies and Gentlemen:</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; text-indent: 0.5in">Pursuant to Section&nbsp;l(i)&nbsp;of
the Investment Management Trust Agreement between A SPAC III Acquisition Corp. ( the&nbsp;<I>&ldquo;Company&rsquo;&rsquo;)&nbsp;</I>and
Continental Stock Transfer&nbsp;&amp; Trust Company (the&nbsp;<I>&ldquo;Trustee&rdquo;),</I>&nbsp;dated as of [&bull;], 2024 (the&nbsp;<I>&ldquo;Trust
Agreement&rdquo;),</I>&nbsp;this is&nbsp;to advise you that the Company has entered into an agreement with [ ] (the&nbsp;<I>&ldquo;Target
Business&rdquo;)</I>&nbsp;to consummate a business combination with Target Business (the&nbsp;<I>&ldquo;Business Combination&rdquo;)</I>&nbsp;on
or about [insert date]. The Company shall notify you at least 72 hours (or such shorter time as you may agree) in advance of the actual
date fixed for the consummation of the Business Combination (the&nbsp;<I>&ldquo;Consummation Date&rdquo;).</I>&nbsp;Capitalized terms
used but not defined herein shall have the meanings set forth in the Trust 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; text-align: justify; text-indent: 0.5in">In accordance with the terms
of the Trust Agreement, we hereby authorize you to commence to liquidate all the assets of the Trust Account such that, on the Consummation
Date, all of the funds held in the Trust Account will be immediately available for transfer to the account or accounts that the Company
shall direct on the Consummation Date (including as directed to it by Maxim (with respect to the Deferred Discount)). It is acknowledged
and agreed that while the funds are on deposit in the Trust Account awaiting distribution, the Company will not earn any interest or dividends.</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; text-indent: 0.5in">On the Consummation Date (i)&nbsp;counsel
for the Company shall deliver to you written notification that the Business Combination has been consummated, or will be consummated substantially
concurrently with your transfer of funds to the accounts as directed by the Company (the&nbsp;<I>&ldquo;Notification&rdquo;)&nbsp;</I>and
(ii)&nbsp;the Company shall deliver to you (a)&nbsp;a certificate of its Chief Executive Officer (the&nbsp;<I>&ldquo;Vote Verification
Certificate&rdquo;),</I>&nbsp;which verifies either that (i)&nbsp;the Business Combination has been approved by a vote of the Company&rsquo;s
shareholders, if a vote is held or (ii)&nbsp;no vote of the Company&rsquo;s shareholders for the approval of the Business Combination
is required and none has been held, and (b)&nbsp;a joint written instruction signed by the Company and Maxim with respect to the transfer
of the funds held in the Trust Account, including payment of amounts owed to Public Shareholders who have properly exercised their redemption
rights and payment of the Deferred Discount to Maxim from the Trust Account (the&nbsp;<I>&ldquo;Instruction Letter&rdquo;).</I>&nbsp;You
are hereby directed and authorized to transfer the funds held in the Trust Account immediately upon your receipt of the Notification,
the Vote Verification Certificate and the Instruction Letter, in accordance with the terms of the Instruction Letter. In the event that
certain deposits held in the Trust Account may not be liquidated by the Consummation Date without penalty, you will notify the Company
in writing of the same and the Company shall direct you as to whether such funds should remain in the Trust Account and be distributed
after the Consummation Date to the Company. Upon the distribution of all the funds, net of any payments necessary for reasonable unreimbursed
expenses related to liquidating the Trust Account, your obligations under the Trust Agreement shall be terminated.</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; text-indent: 0.5in">In the event that the Business
Combination is not consummated on the Consummation Date described in the notice thereof and we have not notified you on or before the
original Consummation Date of a new Consummation Date, then upon receipt by you of written instructions from the Company, the funds held
in the Trust Account shall be reinvested as provided in Section&nbsp;1 (c)&nbsp;of the Trust Agreement on the business day immediately
following such original Consummation Date as set forth in such notice or as soon thereafter as possible.</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: 11 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="3">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="3">A SPAC III ACQUISITION CORP</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>By:</TD>
  <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD COLSPAN="2">Name:</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD COLSPAN="2">Title:</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>By:</TD>
  <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD COLSPAN="2">Name:</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 50%">&nbsp;</TD>
  <TD STYLE="width: 3%">&nbsp;</TD>
  <TD STYLE="width: 5%">Title:</TD>
  <TD STYLE="width: 42%">Secretary/Assistant Secretary</TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD COLSPAN="2">Acknowledged and Agreed:</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 5%">&nbsp;</TD>
  <TD STYLE="width: 45%">&nbsp;</TD>
  <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD COLSPAN="2">Maxim Group LLC</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>By:</TD>
  <TD STYLE="border-bottom: Black 1pt solid">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>Name:</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>Title:</TD>
  <TD>&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: 12 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: right">EXHIBIT&nbsp;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-align: center"><B>[Letterhead of 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-align: center"><B>[Insert date]</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-align: justify">Continental Stock Transfer&nbsp;&amp; Trust Company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">1 State Street, 30<SUP>th</SUP>&nbsp;Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">New York, New York 10004</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Attn: Francis Wolf and Celeste Gonzalez</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 1in; text-align: justify"><U>Trust Account - Termination Letter</U></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">Dear Ladies and Gentlemen:</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; text-indent: 0.5in">Pursuant to Section&nbsp;l(i)&nbsp;of
the Investment Management Trust Agreement between A SPAC III Acquisition Corp, (the&nbsp;<I>&ldquo;Company&rdquo;</I>) and Continental
Stock Transfer&nbsp;&amp; Trust Company (the&nbsp;<I>&ldquo;Trustee&rdquo;</I>), dated as of [&bull;], 2024 (the&nbsp;<I>&ldquo;Trust
Agreement&rdquo;</I>), this is&nbsp;to advise you that the Company has been unable to effect a Business Combination within the time frame
specified in the Company&rsquo;s Amended and Restated Memorandum and Articles of Association, as described in the Company&rsquo;s prospectus
relating to its IPO. Capitalized terms used but not defined herein shall have the meanings set forth in the Trust 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; text-align: justify; text-indent: 0.5in">In accordance with the terms
of the Trust Agreement, we hereby authorize you to liquidate all of the assets in the Trust Account and to keep the total proceeds thereof
in the Trust Account to await distribution to the Public Shareholders. The Company has selected [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2025]<SUP>1</SUP> as the effective date for the purpose of determining when the Public Shareholders will be entitled to receive their
share of the liquidation proceeds. You agree to be the Paying Agent of record, and in your separate capacity as Paying Agent, agree to
distribute said funds directly to the Public Shareholders in accordance with the terms of the Trust Agreement and the Amended and Restated
Memorandum and Articles of Association of the Company. Upon the distribution of all the funds, net of any payments necessary for reasonable
unreimbursed expenses related to liquidating the Trust Account, your obligations under the Trust Agreement shall be terminated, except
to the extent otherwise provided in&nbsp;Section&nbsp;1(i)&nbsp;of the Trust Agreement.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 45%">&nbsp;</TD>
  <TD STYLE="width: 5%">&nbsp;</TD>
  <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2">A SPAC III ACQUISITION CORP</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>By:</TD>
  <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>Name:</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>Title:</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>By:</TD>
  <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>Name:</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>Title:</TD>
  <TD>Secretary/Assistant Secretary</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; text-align: justify">Acknowledged and Agreed:</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">Maxim Group LLC</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; font-size: 10pt"><FONT STYLE="font-size: 10pt">By: &nbsp;&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 35%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 62%; font-size: 10pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Name:<BR>
Title:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>1</SUP>12 months from the closing of the IPO, unless extended.</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: 13 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: right">EXHIBIT&nbsp;C</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: center">[Letterhead of Company]</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: center">[Insert date]</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">Continental Stock Transfer&nbsp;&amp; Trust Company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">1 State Street, 30th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">New York, New York 10004</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Attn: Francis Wolf and Celeste Gonzalez</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">Re:&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;Trust
Account - [Tax] [Working Capital] Withdrawal Instruction</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">Ladies and Gentlemen:</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; text-indent: 0.5in">Pursuant to Section&nbsp;l(j)&nbsp;of
the Investment Management Trust Agreement between A SPAC III Acquisition Corp. (the&nbsp;<I>&ldquo;Company<SUP>,,</SUP>)</I>&nbsp;and
Continental Stock Transfer&nbsp;&amp; Trust Company (the&nbsp;<I>&ldquo;Trustee&rdquo;),</I>&nbsp;dated as of [&bull;], 2024 (the&nbsp;<I>&ldquo;Trust
Agreement&rdquo;),&nbsp;</I>the Company hereby requests that you deliver to the Company $[&bull;] of the interest income earned on the
Property as of the date hereof. Capitalized terms used but not defined herein shall have the meanings set forth in the Trust 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; text-align: justify; text-indent: 0.5in">The Company needs such funds
to pay [for the tax obligations as set forth on the attached tax return or tax statement] [fund the Company&rsquo;s working capital requirements].
In accordance with the terms of the Trust Agreement, you are hereby directed and authorized to transfer (via wire transfer) such funds
promptly upon your receipt of this letter to the Company&rsquo;s operating account at:</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-top: 0pt; margin-bottom: 0pt; text-align: center">[WIRE INSTRUCTION INFORMATION]</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 50%">&nbsp;</TD>
  <TD STYLE="width: 3%">&nbsp;</TD>
  <TD STYLE="width: 47%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2">A SPAC III Acquisition Corp.</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>By</TD>
  <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Name:</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Title:</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>cc: Maxim Group LLC</TD>
  <TD>&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: 14 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: right">EXHIBIT&nbsp;D</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: center">[Letterhead of Company]</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: center"><U>[Insert date]</U></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">Continental Stock Transfer&nbsp;&amp; Trust Company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">1 State Street, 30th Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">New York, New York 10004</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Attn: Francis Wolf and Celeste Gonzalez</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; text-indent: 0.5in">Re: Trust Account - Shareholder Redemption Withdrawal Instruction</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">Ladies and Gentlemen:</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; text-indent: 0.5in">Pursuant to Section&nbsp;l(k)&nbsp;of
the Investment Management Trust Agreement between A SPAC III Acquisition Corp, (the&nbsp;<I><SUP>&ldquo;</SUP>Company&rdquo;)</I>&nbsp;and
Continental Stock Transfer&nbsp;&amp; Trust Company (the&nbsp;<I>&ldquo;Trustee&rdquo;),</I>&nbsp;dated as of [&bull;], 2024 (the&nbsp;<I>&ldquo;Trust
Agreement},&nbsp;</I>the Company hereby requests that you deliver $[<FONT STYLE="font-family: Symbol">&middot;</FONT>] of the principal and interest income earned on the Property
as of the date hereof to a segregated account held by you on behalf of Public Shareholders who have properly elected to have their Ordinary
Shares that were sold by the Company in the IPO (the&nbsp;<I>&ldquo;Public Shares&rdquo;)</I>&nbsp;redeemed by the Company as described
below. Capitalized terms used but not defined herein shall have the meanings set forth in the Trust 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; text-align: justify; text-indent: 0.5in">The Company needs such funds
to pay the Public Shareholders who have properly elected to have their Public Shares redeemed by the Company in connection with a shareholder
vote to approve an amendment to the Company&rsquo;s Amended and Restated Memorandum and Articles of Association to modify the substance
or timing of the ability of Public Shareholders to seek redemption in connection with an initial Business Combination or the Company&rsquo;s
obligation to redeem 100% of the Public Shares if the Company has not consummated an initial Business Combination within such time as
is described in the Company&rsquo;s Amended and Restated Memorandum and Articles of Association or to affect provisions of the Company&rsquo;s
Amended and Restated Memorandum and Articles of Association relating to the Company&rsquo;s pre-initial Business Combination activity
or related shareholder rights. As such, you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon
your receipt of this letter to a segregated account held by you on behalf of such Public Shareholders.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 50%">&nbsp;</TD>
  <TD STYLE="width: 3%">&nbsp;</TD>
  <TD STYLE="width: 47%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2">A SPAC III Acquisition Corp.</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>By</TD>
  <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Name:</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Title:</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>cc: Maxim Group LLC</TD>
  <TD>&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: 15 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: right">EXHIBIT&nbsp;E</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: center"><B>[Letterhead of 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-align: center"><B>[Insert date]</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-align: justify">Continental Stock Transfer&nbsp;&amp; Trust Company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">1 State Street, 30<SUP>th</SUP>&nbsp;Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">New York, N.Y. 10004</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Attn: Francis Wolf and Celeste Gonzalez</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 1in; text-align: justify">Re:&#8239;&#8239;&#8239;&#8239;&nbsp;<U>Trust
Account - Extension Letter</U></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Ladies and Gentleman:</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">Pursuant to Section&nbsp;1(1)&nbsp;of the Investment
Management Trust Agreement between A SPAC III Acquisition Corp. (&ldquo;Company&rdquo;) and Continental Stock Transfer&nbsp;&amp; Trust
Company, dated as of [&bull;], 2024 (&ldquo;Trust Agreement&rdquo;), this is to advise you that the Company is extending the time available
in order to consummate a Business Combination with the Target Businesses for an additional three (3)&nbsp;months, from ____________ to
____________ (the &ldquo;Extension&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; text-align: justify">This Extension Letter shall serve as the notice
required with respect to Extension prior to the Applicable Deadline. Capitalized words used herein and not otherwise defined shall have
the meanings ascribed to them in the Trust 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; text-align: justify">In accordance with the terms of the Trust Agreement,
we hereby authorize you to deposit [$550,000] [(or $632,500 if the underwriters&rsquo; over-allotment option was exercised in full)],
which will be wired to you, into the Trust Account investments upon receipt.</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">This is the _______ of up to two Extension Letters.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 50%">&nbsp;</TD>
  <TD STYLE="width: 3%">&nbsp;</TD>
  <TD STYLE="width: 47%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2">A SPAC III <FONT STYLE="text-transform: uppercase">Acquisition Corp</FONT>.</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>By:</TD>
  <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Name:</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Title:</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>cc: Maxim Group LLC</TD>
  <TD>&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: 16 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: right">EXHIBIT&nbsp;F</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: center"><B>[Letterhead of 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-align: center"><B>[Insert date]</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-align: justify">Continental Stock Transfer&nbsp;&amp; Trust Company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">1 State Street, 30<SUP>th</SUP>&nbsp;Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">New York, New York 10004</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Attn: Francis Wolf and Celeste Gonzalez</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 0.5in">Re:&nbsp;<U>Trust Account - Irrevocable Instruction in Connection
with Business Combination</U></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">Ladies and Gentlemen:</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">Pursuant to paragraphs l(p)&nbsp;and 3(g)&nbsp;of
the Investment Management Trust Agreement between A SPAC III Acquisition Corp. (&ldquo;Company&rdquo;) and Continental Stock Transfer&nbsp;&amp;
Trust Company (&ldquo;Trustee&rdquo;), dated as [&bull;], 2024 (&ldquo;Trust Agreement&rdquo;), this constitutes our irrevocable instruction
to you to (i)&nbsp;in conjunction with the Business Combination (as defined in the Trust Agreement), disburse a per share amount of $_____,
for a total disbursement of $_____&nbsp;&#8239;&#8239;&#8239;&#8239;&nbsp;which is not less than $10.00 (plus the amount per share deposited
in the Trust Account pursuant to any Extension Letter) to (the &ldquo;Shareholder&rdquo;) for the _____ ordinary shares of the Company
delivered to you prior to or concurrently herewith for redemption in connection with the Business Combination, and (ii)&nbsp;promptly
deliver to the Shareholder the amounts specified in clause (i), less a processing fee of $350 per transaction received. The Shareholder
wire instructions are attached. A share advice or DWAC instruction from our broker is also attached.</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">The Company shall indemnify you and your officers,
directors, principals, partners, agents and representatives, and hold each of them harmless from and against any and all loss, liability,
damage, claim or expense (including the reasonable fees and disbursements of its attorneys) incurred by or asserted against you or any
of them arising out of or in connection with the instructions set forth herein, the performance of your duties hereunder and otherwise
in respect hereof, including the costs and expenses of defending yourself or themselves against any claim or liability hereunder, except
that the Company shall not be liable hereunder as to matters in respect of which it is determined that you have acted with gross negligence,
fraud, willful misconduct or in bad faith. You shall have no liability to the Company in respect to any action taken or any failure to
act in respect of this if such action was taken or omitted to be taken in good faith, and you shall be entitled to rely in this regard
on the advice of counsel.</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">The Board of Directors of the Company has approved
the foregoing irrevocable instructions and does hereby extend the Company&rsquo;s irrevocable agreement to indemnify your firm for all
loss, liability or expense in carrying out the authority and direction herein contained on the terms herein set forth.</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">The Shareholder is intended to be and is a third
party beneficiary of this letter and the irrevocable instructions set forth herein, and no amendment or modification to the instructions
set forth herein may be made without the prior written consent of the Shareholder.</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">By signing below, the person executing this letter
certifies that they are duly authorized to execute this letter on behalf of the Company and to bind the Company to all of the terms and
conditions contained 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; text-align: center">[remainder of page&nbsp;intentionally left blank]</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: 17 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 50%">&nbsp;</TD>
  <TD STYLE="width: 3%">&nbsp;</TD>
  <TD STYLE="width: 47%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2">A SPAC III <FONT STYLE="text-transform: uppercase">Acquisition Corp</FONT>.</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>By:</TD>
  <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Name:</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Title:</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD COLSPAN="2">Acknowledged and Agreed:</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 5%">&nbsp;</TD>
  <TD STYLE="width: 35%">&nbsp;</TD>
  <TD STYLE="width: 60%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD COLSPAN="2">CONTINENTAL STOCK TRANSFER&nbsp;&amp; TRUST COMPANY, as Trustee</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>Name:</TD>
  <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>Title:</TD>
  <TD STYLE="border-bottom: Black 1pt solid">&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; text-align: justify">Cc: [SHAREHOLDER].</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"><U>Attachments:</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Shareholder Tax Form&nbsp;(W-9/8)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Callback telephone number to verify wire instructions, sent separately</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Share advice or instruction</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: 18 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: right">EXHIBIT&nbsp;G</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: center"><B>[Insert date]</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-align: justify">Continental Stock Transfer&nbsp;&amp; Trust Company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">1 State Street, 30<SUP>th</SUP>&nbsp;Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">New York, New York 10004</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Attn: Francis Wolf and Celeste Gonzalez</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; font-size: 10pt"><FONT STYLE="font-size: 10pt">Re:</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Trust Account - Irrevocable Instruction in Connection with Business Combination</FONT></TD></TR>
  </TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Ladies and Gentleman:</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">Pursuant to paragraphs l(p)&nbsp;and 3(h)&nbsp;of
the Investment Management Trust Agreement between A SPAC III Acquisition Corp. (&ldquo;Company&rdquo;) and Continental Stock Transfer&nbsp;&amp;
Trust Company (&ldquo;Trustee&rdquo;), dated as of [&bull;], 2024 (&ldquo;Trust Agreement&rdquo;), this constitutes our irrevocable instruction
to you to (i)&nbsp;in conjunction with the Business Combination (as defined in the Trust Agreement), disburse a per share amount of $,
for a total disbursement of $which is not less than $10.00 (plus the amount per share deposited in the Trust Account pursuant to any Extension
Letter) per share to (the &ldquo;Shareholder&rdquo;) for the ordinary shares of the Company delivered to you prior to or concurrently
herewith for redemption in connection with the Business Combination, and (ii)&nbsp;deliver to the Shareholder the amounts specified in
clause (i). Our wire instructions are attached. We understand that a servicing fee of $350 will deducted from our payment. A share advice
or DWAC instruction from our broker, copy of a valid government-issued ID of the signer are attached.</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">The Company shall indemnify you and your officers,
directors, principals, partners, agents and representatives, and hold each of them harmless from and against any and all loss, liability,
damage, claim or expense (including the reasonable fees and disbursements of its attorneys) incurred by or asserted against you or any
of them arising out of or in connection with the instructions set forth herein, the performance of your duties hereunder and otherwise
in respect hereof, including the costs and expenses of defending yourself or themselves against any claim or liability hereunder, except
that the Company shall not be liable hereunder as to matters in respect of which it is determined that you have acted with gross negligence,
fraud, willful misconduct or in bad faith . You shall have no liability to the Company in respect to any action taken or any failure to
act in respect of this if such action was taken or omitted to be taken in good faith, and you shall be entitled to rely in this regard
on the advice of counsel.</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">The Board of Directors of the Company does hereby
extend the Company&rsquo;s irrevocable agreement to indemnify your firm for all loss, liability or expense in carrying out the authority
and direction herein contained on the terms herein set forth.</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">No amendment or modification to the instructions
set forth herein may be made without the prior written consent of the Shareholder.</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-top: 0pt; margin-bottom: 0pt; text-align: center">[remainder of page&nbsp;intentionally left blank]</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: 19 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify">By signing below, the person executing this letter
certifies that they are duly authorized to execute this letter on behalf of the Shareholder and to bind the Shareholder to all of the
terms and conditions contained herein.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="width: 50%">&nbsp;</TD>
  <TD STYLE="width: 3%">&nbsp;</TD>
  <TD STYLE="width: 47%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD COLSPAN="2">[SHAREHOLDER (Include full address, email address and phone number for callback confirmation of wire instructions)]</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>By:</TD>
  <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Name:</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD>Title:</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">Acknowledged and Agreed:</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">CONTINENTAL STOCK TRANSFER&nbsp;&amp; TRUST COMPANY, as Trustee</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">Name:&nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Title:</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">Cc:</TD>
    <TD STYLE="text-align: justify">A SPAC III Acquisition Corp.</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">29/F, Sun's Group Center </TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">200 Gloucester Road</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>Wan Chai&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>Hong Kong&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</TD>
    <TD>Attn: Claudius Tsang, Chief Executive Officer</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">Attachments:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Shareholder tax form (W-9/8)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Callback telephone number to verify wire instructions, sent separately</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Share advice or instruction</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: 20; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>9
<FILENAME>filename9.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></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: right"><B>Exhibit 10.4</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>REGISTRATION RIGHTS AGREEMENT</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-align: justify; text-indent: 0.5in">THIS REGISTRATION RIGHTS AGREEMENT
(this&nbsp;<B><I>&ldquo;Agreement&rdquo;</I></B>), dated as of [&bull;], 2024, is made and entered into by and among A SPAC III Acquisition
Corp., a British Virgin Islands business company (the&nbsp;<B><I>&ldquo;Company&rdquo;</I></B>), A SPAC III (Holdings) Corp., a British
Virgin Islands business company (the&nbsp;<B><I>&ldquo;Sponsor</I>&rdquo;</B>) and each additional undersigned party listed on the signature
page&nbsp;hereto, if any (each such party, together with the Sponsor and any person or entity who hereafter becomes a party to this Agreement
pursuant to&nbsp;<U>Section&nbsp;5.2</U>&nbsp;of this Agreement, a&nbsp;<B><I>&ldquo;Holder&rdquo;</I></B>&nbsp;and collectively the&nbsp;<B><I>&ldquo;Holders&rdquo;</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-align: center"><B>RECITALS</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-align: justify; text-indent: 0.5in"><B>WHEREAS,&nbsp;</B>the Company
and the Sponsor have entered into those certain Securities Subscription Agreements (the&nbsp;<B><I>&ldquo;Founder Shares Purchase Agreements&rdquo;),</I></B>&nbsp;dated
as of September&nbsp;3, 2021, and [&bull;], 2024 pursuant to which the Sponsor purchased an aggregate of 1,581,250 (the&nbsp;<B><I>&ldquo;Founder
Shares&rdquo;</I></B>) of the Company&rsquo;s Class&nbsp;B ordinary shares, no par value (the&nbsp;<B><I>&ldquo;Class&nbsp;B Ordinary
Shares&rdquo;</I></B><I>);</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; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, the Class&nbsp;B
ordinary share will automatically convert into Class&nbsp;A ordinary shares at the time of the Company&rsquo;s initial Business Combination,
or earlier at the option of the holder, on a one-for-one basis, subject to adjustment as provided herein and in our amended and restated
memorandum and articles of association.</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; text-indent: 0.5in"><B>WHEREAS,&nbsp;</B>the Founder
Shares are convertible into the Company&rsquo;s Class&nbsp;A ordinary shares, no par value (the&nbsp;<B><I>&ldquo;Ordinary Shares&rdquo;</I></B><I>),</I>&nbsp;on
the terms and conditions provided in the Company&rsquo;s amended and restated memorandum and articles of association;</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; text-indent: 0.5in"><B>WHEREAS,&nbsp;</B>on [&bull;],
2024, the Company entered into that certain Unit Subscription Agreement with A SPAC III (Holdings) Corp., a British Virgin Islands business
company (the&nbsp;<B><I>&ldquo;Sponsor&rdquo;</I></B><I>),</I>&nbsp;pursuant to which the Sponsor agreed to purchase an aggregate of 280,000
units (or up to 288,250 units if the over-allotment option in connection with the Company&rsquo;s initial public offering (the&nbsp;<B><I>&ldquo;Offering&rdquo;)</I></B>&nbsp;is
exercised in full) simultaneously with the closing of the Offering (and the closing of the over-allotment option, if applicable) (the&nbsp;<B><I>&ldquo;Private
Placement Units&rdquo;</I></B>) at a purchase price of $10.00 per Private Placement Unit. Each Private Placement Unit is comprised of
one Ordinary Share (the&nbsp;<B><I>&ldquo;Private Placement Shares&rdquo;</I></B>) and one right to receive one-fourth of one Ordinary
Share (the&nbsp;<B><I>&ldquo;Private Placement Rights&rdquo;</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-align: justify; text-indent: 0.5in"><B>WHEREAS,&nbsp;</B>on or
about the date hereof, the Company and Maxim Group LLC&nbsp;<I>(<B>&ldquo;Maxim&rdquo;</B></I>) entered into that certain Underwriting
Agreement, pursuant to which Maxim or its designees will receive an aggregate of 247,500 Ordinary Shares (or up to 284,625 Ordinary Shares
to the extent that the over-allotment option in connection with the Company&rsquo;s initial public offering is exercised) (the&nbsp;<B><I>&ldquo;Representative
Shares&rdquo;</I></B>), in a transaction occurring simultaneously with the closing of the Company&rsquo;s initial public offering (and
the closing of the over-allotment option, if applicable); and</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; text-indent: 0.5in"><B>WHEREAS,&nbsp;</B>the Company
and the Holders desire to enter into this Agreement, pursuant to which the Company shall grant the Holders certain registration rights
with respect to certain securities of the Company, as set forth in this 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; text-align: justify; text-indent: 0.5in"><B>NOW, THEREFORE,&nbsp;</B>in
consideration of the representations, covenants and agreements contained herein, and certain other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:</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: center"><FONT STYLE="text-transform: uppercase"><B>ARTICLE&nbsp;1</B></FONT><B><BR>
DEFINITIONS</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-align: justify; text-indent: 0.5in">1.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Definitions</U>.
The terms defined in this&nbsp;<I><U>Article&nbsp;I</U></I>&nbsp;shall, for all purposes of this Agreement, have the respective meanings
set forth 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; text-align: justify; text-indent: 0.5in"><B><I>&ldquo;Adverse Disclosure&rdquo;</I></B>&nbsp;shall
mean any public disclosure of material non-public information, which disclosure, in the good faith judgment of the Chief Financial Officer,
Chief Executive Officer or principal financial officer of the Company, after consultation with counsel to the Company, (i)&nbsp;would
be required to be made in any Registration Statement or Prospectus in order for the applicable Registration Statement or Prospectus not
to contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements contained therein
(in the case of any prospectus and any preliminary prospectus, in the light of the circumstances under which they were made) not misleading,
(ii)&nbsp;would not be required to be made at such time if the Registration Statement were not being filed, and (iii)&nbsp;the Company
has a bona fide business purpose for not making such information public.</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: 1 -->
    <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"></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in"><B><I>&ldquo;Agreement&rdquo;&nbsp;</I></B>shall
have the meaning given in the Preamble.</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; text-indent: 0.5in"><B><I>&ldquo;Board<SUP>,,&nbsp;</SUP></I></B>shall
mean the Board of Directors of the Company.</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; text-indent: 0.5in"><B><I>&ldquo;Business Combination&rdquo;</I></B>&nbsp;shall
mean any merger, share exchange, asset acquisition, share purchase, reorganization or other similar business combination with one or more
businesses, involving the Company.</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; text-indent: 0.5in"><B><I>&ldquo;Commission&rdquo;&nbsp;</I></B>shall
mean the Securities and Exchange Commission.</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; text-indent: 0.5in"><B><I>&ldquo;Company&rdquo;&nbsp;</I></B>shall
have the meaning given in the Preamble.</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; text-indent: 0.5in"><B><I>&ldquo;Demand Registration&rdquo;</I></B>&nbsp;shall
have the meaning given in&nbsp;<U>subsection 2.1.1</U>.</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; text-indent: 0.5in"><B><I>&ldquo;Demanding Holder&rdquo;</I></B>&nbsp;shall
have the meaning given in&nbsp;<U>subsection 2.1.1</U>.</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; text-indent: 0.5in"><B><I>&ldquo;Exchange Act&rdquo;</I></B>&nbsp;shall
mean the Securities Exchange Act of 1934, as it may be amended from time to time.</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; text-indent: 0.5in"><B><I>&ldquo;Form&nbsp;S-1&rdquo;&nbsp;</I></B>shall
have the meaning given in&nbsp;<U>subsection 2.1.1</U>.</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; text-indent: 0.5in"><B><I>&ldquo;Form&nbsp;S-3&rdquo;&nbsp;</I></B>shall
have the meaning given in&nbsp;<U>subsection 2.3</U>.</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; text-indent: 0.5in"><B><I>&ldquo;Founder Shares&rdquo;</I></B>&nbsp;shall
have the meaning given in the Recitals hereto and shall be deemed to include the Ordinary Shares issuable upon conversion thereof.</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; text-indent: 0.5in"><B><I>&ldquo;Founder Shares
Lock-up Period&rdquo;</I></B>&nbsp;shall mean, with respect to the Founder Shares, the period ending on the earlier of (A)&nbsp;six months
after the completion of the Company&rsquo;s initial Business Combination or (B)&nbsp;subsequent to the Business Combination, (x)&nbsp;if
the last sale price of the Ordinary Shares equals or exceeds $12.00 per share (as adjusted for share splits, share dividends, reorganizations,
recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing after the Company&rsquo;s initial
Business Combination or (y)&nbsp;the date on which the Company completes a liquidation, merger, share exchange, reorganization or other
similar transaction that results in all of the Company&rsquo;s shareholders having the right to exchange their Ordinary Shares 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; text-align: justify; text-indent: 0.5in"><B><I>&ldquo;Founder Shares
Purchase Agreement&rdquo;</I></B>&nbsp;shall have the meaning given in the Recitals hereto.</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; text-indent: 0.5in"><B><I>&ldquo;Holders&rdquo;&nbsp;</I></B>shall
have the meaning given in the Preamble.</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; text-indent: 0.5in"><B><I>&ldquo;Insider Letter&rdquo;</I></B>&nbsp;shall
mean that certain letter agreement, dated as of [&bull;], 2024, by and between the Company, the Sponsor and each of the Company&rsquo;s
officers, directors and director nominees.</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; text-indent: 0.5in"><B><I>&ldquo;Maximum Number
of Securities&rdquo;</I></B>&nbsp;shall have the meaning given in&nbsp;<U>subsection 2.1.4</U>.</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; text-indent: 0.5in"><B><I>&ldquo;Misstatement&rdquo;&nbsp;</I></B>shall
mean an untrue statement of a material fact or an omission to state a material fact required to be stated in a Registration Statement
or Prospectus, or necessary to make the statements in a Registration Statement or Prospectus in the light of the circumstances under which
they were made not misleading.</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; text-indent: 0.5in"><B><I>&ldquo;Ordinary Shares&rdquo;</I></B>&nbsp;shall
have the meaning given in the Recitals.</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; text-indent: 0.5in"><B><I>&ldquo;Permitted Transferees&rdquo;</I></B>&nbsp;shall
have the same meaning given in the Company&rsquo;s registration statement on Form&nbsp;S-1, No.&nbsp;[&bull;] and shall also include a
person or entity to whom a Holder of Registrable Securities is permitted to transfer such Registrable Securities prior to the expiration
of the Founder Shares Lock-up Period or Private Placement Lock-up Period, as the case may be, under the Insider Letter, this Agreement,
and any other applicable agreement between such Holder and the Company, and to any transferee thereafter.</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; text-indent: 0.5in"><B><I>&ldquo;Piggyback Registration&rdquo;</I></B>&nbsp;shall
have the meaning given in&nbsp;<U>subsection 2.2.1</U>.</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: 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"></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in"><B><I>&ldquo;Private Placement
Lock-up Period&rdquo;</I></B>&nbsp;shall mean, with respect to Private Placement Units, including Private Placement Shares and Private
Placement Rights included in the Private Placement Units, and the shares of Ordinary Shares underlying Private Placement Rights that are
held by the initial purchasers of such Private Placement Units or their Permitted Transferees, the period immediately after the completion
of the Company&rsquo;s 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; text-align: justify; text-indent: 0.5in"><B><I>&ldquo;Private Placement
Rights&rdquo;</I></B>&nbsp;shall have the meaning given in the Recitals hereto.</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; text-indent: 0.5in"><B><I>&ldquo;Private Placement
Shares&rdquo;</I></B>&nbsp;shall have the meaning given in the Recitals hereto.</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; text-indent: 0.5in"><B><I>&ldquo;Pro Rata&rdquo;</I></B>&nbsp;shall
have the meaning given in&nbsp;<U>subsection 2.1.4</U>.</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; text-indent: 0.5in"><B><I>&ldquo;Prospectus&rdquo;&nbsp;</I></B>shall
mean the prospectus included in any Registration Statement, as supplemented by any and all prospectus supplements and as amended by any
and all post-effective amendments and including all material incorporated by reference in such 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; text-align: justify; text-indent: 0.5in"><B><I>&ldquo;Prospectus Date&rdquo;</I></B>&nbsp;shall
mean the date of the final prospectus filed with the Commission and relating to the Company&rsquo;s initial public 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; text-align: justify; text-indent: 0.5in"><B><I>&ldquo;Registrable Security&rdquo;</I></B>&nbsp;shall
mean (a)&nbsp;the Ordinary Shares issued or issuable upon the conversion of any Founder Shares, (b)&nbsp;the Private Placement Units,
(c)&nbsp;the Private Placement Rights (including any Ordinary Shares issued or issuable upon the conversion of any such Private Placement
Rights), (d)&nbsp;the Private Placement Shares, (e)&nbsp;any outstanding Ordinary Shares or any other equity security (including the Ordinary
Shares issued or issuable upon the exercise or conversion of any other equity security) of the Company held by a Holder as of the date
of this Agreement, (f)&nbsp;any equity securities (including the Ordinary Shares issued or issuable upon the exercise of any such equity
security) of the Company issuable upon conversion of any working capital loans in an amount up to $1,150,000 made to the Company by a
Holder, (g)&nbsp;the Representative Shares, and (h)&nbsp;any other equity security of the Company issued or issuable with respect to any
such Ordinary Shares by way of a share dividend or share split or in connection with a combination of shares, recapitalization, merger,
consolidation or reorganization;&nbsp;<U>provided</U>,&nbsp;<U>however</U>, that, as to any particular Registrable Security, such securities
shall cease to be Registrable Securities when: (A)&nbsp;a Registration Statement with respect to the sale of such securities shall have
become effective under the Securities Act and such securities shall have been sold, transferred, disposed of or exchanged in accordance
with such Registration Statement; (B)&nbsp;such securities shall have been otherwise transferred, new certificates for such securities
not bearing a legend restricting further transfer shall have been delivered by the Company and subsequent public distribution of such
securities shall not require registration under the Securities Act; (C)&nbsp;such securities shall have ceased to be outstanding; (D)&nbsp;such
securities may be sold without registration pursuant to Rule&nbsp;144 promulgated under the Securities Act (or any successor rule&nbsp;promulgated
thereafter by the Commission) (but with no volume or other restrictions or limitations); or (E)&nbsp;such securities have been sold to,
or through, a broker, dealer or underwriter in a public distribution or other public securities transaction.</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; text-indent: 0.5in"><B><I>&ldquo;Registration&rdquo;&nbsp;</I></B>shall
mean a registration effected by preparing and filing a registration statement or similar document in compliance with the requirements
of the Securities Act, and the applicable rules&nbsp;and regulations promulgated thereunder, and such registration statement becoming
effective.</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; text-indent: 0.5in"><B><I>&ldquo;Registration
Expenses&rdquo;</I></B>&nbsp;shall mean the out-of-pocket expenses of a Registration, including, without limitation, the following:</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; text-indent: 0.5in">(A)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;all
registration and filing fees (including fees with respect to filings required to be made with the Financial Industry Regulatory Authority,&nbsp;Inc.)
and any securities exchange on which the Ordinary Shares are then listed;</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; text-indent: 0.5in">(B)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;fees
and expenses of compliance with securities or blue sky laws (including reasonable fees and disbursements of counsel for the Underwriters
in connection with blue sky qualifications of Registrable 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-align: justify; text-indent: 0.5in">(C)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;printing,
messenger, telephone and delivery 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; text-align: justify; text-indent: 0.5in">(D)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;reasonable
fees and disbursements of counsel for the Company;</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: 3 -->
    <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"></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in">(E)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;reasonable
fees and disbursements of all independent registered public accountants of the Company incurred specifically in connection with such Registration;
and</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; text-indent: 0.5in">(F)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;reasonable
fees and expenses of one (l)&nbsp;legal counsel selected by the majority-in-interest of the Demanding Holders initiating a Demand Registration
to be registered for offer and sale in the applicable Registration.</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; text-indent: 0.5in"><B><I>&ldquo;Registration
Statement&rdquo;</I></B>&nbsp;shall mean any registration statement that covers the Registrable Securities pursuant to the provisions
of this Agreement, including the Prospectus included in such registration statement, amendments (including post-effective amendments)
and supplements to such registration statement, and all exhibits to and all material incorporated by reference in such registration statement.</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; text-indent: 0.5in"><B><I>&ldquo;Requesting Holder&rdquo;</I></B>&nbsp;shall
have the meaning given in&nbsp;<U>subsection 2.1.1</U>.</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; text-indent: 0.5in"><B><I>&ldquo;Securities Act&rdquo;</I></B>&nbsp;shall
mean the Securities Act of 1933, as amended from time to time.</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; text-indent: 0.5in"><B><I>&ldquo;Sponsor&rdquo;&nbsp;</I></B>shall
have the meaning given in the Recitals hereto.</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; text-indent: 0.5in"><B><I>&ldquo;Underwriter&rdquo;&nbsp;</I></B>shall
mean a securities dealer who purchases any Registrable Securities as principal in an Underwritten Offering and not as part of such dealer&rsquo;s
market-making activities.</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; text-indent: 0.5in"><B><I>&ldquo;Underwritten
Registration&rdquo;</I></B>&nbsp;or&nbsp;<B><I>&ldquo;Underwritten Offering&rdquo;</I></B>&nbsp;shall mean a Registration in which securities
of the Company are sold to an Underwriter in a firm commitment underwriting for distribution to the public.</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; text-indent: 0.5in"><B><I>&ldquo;Working Capital
Units&rdquo;</I></B>&nbsp;means any units held by the Sponsor, officers or directors of the Company or their affiliates which may be issued
in payment of working capital loans made to the Company.</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: center"><FONT STYLE="text-transform: uppercase"><B>ARTICLE&nbsp;2</B></FONT><B><BR>
REGISTRATIONS</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-align: justify; text-indent: 0.5in">2.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Demand
Registration</U>.</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; text-indent: 1in">2.1.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Request
for Re</U>g<U>istration</U>. Subject to the provisions of&nbsp;subsection 2.1.4&nbsp;and Section&nbsp;2.4 hereof, at any time and from
time to time on or after the date the Company consummates the Business Combination, the Holders of at least a majority in interest of
the then-outstanding number of Registrable Securities (collectively, the &ldquo;<B><I>Demanding Holders&rdquo;</I></B><I>)</I>&nbsp;may
make a written demand for Registration of all or part of their Registrable Securities, which written demand shall describe the amount
and type of securities to be included in such Registration and the intended method(s)&nbsp;of distribution thereof (such written demand
a&nbsp;<B><I>&ldquo;Demand Registration&rdquo;</I></B><I>).</I>&nbsp;The Company shall, within three (3)&nbsp;days of the Company&rsquo;s
receipt of the Demand Registration, notify, in writing, all other Holders of Registrable Securities of such demand, and each Holder of
Registrable Securities who thereafter wishes to include all or a portion of such Holder&rsquo;s Registrable Securities in a Registration
pursuant to a Demand Registration (each such Holder that includes all or a portion of such Holder&rsquo;s Registrable Securities in such
Registration, a&nbsp;<B><I>&ldquo;Requesting Holder&rdquo;</I></B><I>)</I>&nbsp;shall so notify the Company, in writing, within five (5)&nbsp;days
after the receipt by the Holder of the notice from the Company. Upon receipt by the Company of any such written notification from a Requesting
Holder(s)&nbsp;to the Company, such Requesting Holder(s)&nbsp;shall be entitled to have their Registrable Securities included in a Registration
pursuant to a Demand Registration and the Company shall effect, as soon thereafter as practicable, but not more than forty five (45) days
immediately after the Company&rsquo;s receipt of the Demand Registration, the Registration of all Registrable Securities requested by
the Demanding Holders and Requesting Holders pursuant to such Demand Registration. Under no circumstances shall the Company be obligated
to effect more than an aggregate of three (3)&nbsp;Registrations pursuant to a Demand Registration under this&nbsp;<U>subsection 2.1.1</U>&nbsp;with
respect to any or all Registrable Securities;&nbsp;<U>provided</U>,&nbsp;<U>however</U>, that a Registration shall not be counted for
such purposes unless a Form&nbsp;S-1 or any similar long-form registration statement that may be available at such time&nbsp;<B><I>(&ldquo;Form&nbsp;S-1&rdquo;)&nbsp;</I></B>has
become effective and all of the Registrable Securities requested by the Requesting Holders to be registered on behalf of the Requesting
Holders in such Form&nbsp;S-1 Registration have been sold, in accordance with&nbsp;<U>Section&nbsp;3.1</U>&nbsp;of this Agreement. Notwithstanding
the provisions set forth herein, the right to a Demand Registration set forth under this Section&nbsp;2.1.1 with respect to the Registrable
Securities held by Maxim may only be exercised one (1)&nbsp;time and shall terminate on the fifth anniversary of the effective date of
the Company&rsquo;s Form&nbsp;S-1 Registration Statement (file no. 333-[&bull;]) (the&nbsp;<B><I>&ldquo;Effective Date&rdquo;</I></B><I>).</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"></P>

<!-- Field: Page; Sequence: 4 -->
    <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"></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 1in">2.1.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Effective
Re</U>g<U>istration</U>. Notwithstanding the provisions of&nbsp;<U>subsection 2.1.1</U>&nbsp;above or any other part of this Agreement,
a Registration pursuant to a Demand Registration shall not count as a Registration unless and until (i)&nbsp;the Registration Statement
filed with the Commission with respect to a Registration pursuant to a Demand Registration has been declared effective by the Commission
and (ii)&nbsp;the Company has complied with all of its obligations under this Agreement with respect thereto;&nbsp;<U>provided</U>,&nbsp;<U>further</U>,
that if, after such Registration Statement has been declared effective, an offering of Registrable Securities in a Registration pursuant
to a Demand Registration is subsequently interfered with by any stop order or injunction of the Commission, federal or state court or
any other governmental agency the Registration Statement with respect to such Registration shall be deemed not to have been declared effective,
unless and until, (i)&nbsp;such stop order or injunction is removed, rescinded or otherwise terminated, and (ii)&nbsp;a majority-in-interest
of the Demanding Holders initiating such Demand Registration thereafter affirmatively elect to continue with such Registration and accordingly
notify the Company in writing, but in no event later than five (5)&nbsp;days, of such election; and&nbsp;<U>provided</U>,&nbsp;<U>further</U>,
that the Company shall not be obligated or required to file another Registration Statement until the Registration Statement that has been
previously filed with respect to a Registration pursuant to a Demand Registration becomes effective or is subsequently terminated.</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; text-indent: 1in">2.1.3&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Underwritten
Offerin</U>g. Subject to the provisions of&nbsp;<U>subsection 2.1.4</U>&nbsp;and&nbsp;<U>Section&nbsp;2.4</U>&nbsp;hereof, if a
majority-in-interest of the Demanding Holders so advise the Company as part of their Demand&nbsp;Registration that the offering of
the Registrable Securities pursuant to such Demand Registration shall be in the form of an Underwritten Offering, then the right of
such Demanding Holder or Requesting Holder (if any) to include its Registrable Securities in such Registration shall be conditioned
upon such Holder&rsquo;s participation in such Underwritten Offering and the inclusion of such Holder&rsquo;s Registrable Securities
in such Underwritten Offering to the extent provided herein. All such Holders proposing to distribute their Registrable Securities
through an Underwritten Offering under this&nbsp;<U>subsection 2.1.3</U>&nbsp;shall enter into an underwriting agreement in
customary form with the Underwriter(s)&nbsp;selected for such Underwritten Offering by the majority-in-interest of the Demanding
Holders initiating the Demand Registration.</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; text-indent: 1in">2.1.4&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Reduction
of Underwritten Offerin</U>g. If the managing Underwriter or Underwriters in an Underwritten Registration pursuant to a Demand Registration,
in good faith, advises the Company, the Demanding Holders and the Requesting Holders (if any) in writing that the dollar amount or number
of Registrable Securities that the Demanding Holders and the Requesting Holders (if any) desire to sell, taken together with all other
Ordinary Shares or other equity securities that the Company desires to sell and the Ordinary Shares, if any, as to which a Registration
has been requested pursuant to separate written contractual piggy-back registration rights held by any other shareholders who desire to
sell, exceeds the maximum dollar amount or maximum number of equity securities that can be sold in the Underwritten Offering without adversely
affecting the proposed offering price, the timing, the distribution method, or the probability of success of such offering (such maximum
dollar amount or maximum number of such securities, as applicable, the &ldquo;<B><I>Maximum Number of Securities&rdquo;</I></B><I>),&nbsp;</I>then
the Company shall include in such Underwritten Offering, as follows: (i)&nbsp;first, the Registrable Securities of the Demanding Holders
and the Requesting Holders (if any) (pro rata based on the respective number of Registrable Securities that each Demanding Holder and
Requesting Holder (if any) has requested be included in such Underwritten Registration and the aggregate number of Registrable Securities
that the Demanding Holders and Requesting Holders have requested be included in such Underwritten Registration (such proportion is referred
to herein as&nbsp;<B><I>&ldquo;Pro Rata&rdquo;</I></B>)) that can be sold without exceeding the Maximum Number of Securities; (ii)&nbsp;second,
to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (i), the Registrable Securities of
Holders (Pro Rata, based on the respective number of Registrable Securities that each Holder has so requested) exercising their rights
to register their Registrable Securities pursuant to&nbsp;<U>subsection 2.2.1</U>&nbsp;hereof, without exceeding the Maximum Number of
Securities; and (iii)&nbsp;third, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses
(i)&nbsp;and (ii), the Ordinary Shares or other equity securities that the Company desires to sell or its designees, which can be sold
without exceeding the Maximum Number of Securities; and (iv)&nbsp;fourth, to the extent that the Maximum Number of Securities has not
been reached under the foregoing clauses (i), (ii)&nbsp;and (iii), the Ordinary Shares or other equity securities of other persons or
entities that the Company is obligated to register in a Registration pursuant to separate written contractual arrangements with such persons
and that can be sold without exceeding the Maximum Number of 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-align: justify; text-indent: 1in">2.1.5&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Demand
Re</U>g<U>istration Withdrawal</U>. A majority-in-interest of the Demanding Holders initiating a Demand Registration or a majority-in-interest
of the Requesting Holders (if any), pursuant to a Registration under&nbsp;<U>subsection 2.1.1</U>&nbsp;shall have the right to withdraw
from a Registration pursuant to such Demand Registration for any or no reason whatsoever upon written notification to the Company and
the Underwriter or Underwriters (if any) of their intention to withdraw from such Registration prior to the effectiveness of the Registration
Statement filed with the Commission with respect to the Registration of their Registrable Securities pursuant to such Demand Registration.
Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses incurred in
connection with a Registration pursuant to a Demand Registration as provided in&nbsp;<U>Section&nbsp;3.3</U>&nbsp;prior to its withdrawal
under this&nbsp;<U>subsection 2.1.5</U>.</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: 5 -->
    <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"></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in">2.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Piggyback
Registration</U>.</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; text-indent: 1in">&#8239;2.2.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Piggyback
Rights</U>. If, at any time on or after the date the Company consummates a Business Combination, the Company proposes to file a Registration
Statement under the Securities Act with respect to an offering of equity securities, or securities or other obligations exercisable or
exchangeable for, or convertible into equity securities, for its own account or for the account of shareholders of the Company (or by
the Company and by the shareholders of the Company including, without limitation, pursuant to&nbsp;<U>Section&nbsp;2.1</U>&nbsp;hereof),
other than a Registration Statement (i)&nbsp;filed in connection with any employee share option or other benefit plan, (ii)&nbsp;for an
exchange offer or offering of securities solely to the Company&rsquo;s existing shareholders, (iii)&nbsp;for an offering of debt that
is convertible into equity securities of the Company or (iv)&nbsp;for a dividend reinvestment plan, then the Company shall give written
notice of such proposed filing to all of the Holders of Registrable Securities as soon as practicable but not less than ten (10)&nbsp;days
before the anticipated filing date of such Registration Statement, which notice shall (A)&nbsp;describe the amount and type of securities
to be included in such offering, the intended method(s)&nbsp;of distribution, and the name of the proposed managing Underwriter or Underwriters,
if any,&nbsp;in such offering, and (B)&nbsp;offer to all of the Holders of Registrable Securities the opportunity to register the sale
of such number of Registrable Securities as such Holders may request in writing within five (5)&nbsp;days after receipt of such written
notice (such Registration a&nbsp;<B>&ldquo;<I>Piggyback Registration&rdquo;</I></B><I>).&nbsp;</I>The Company shall, in good faith, cause
such Registrable Securities to be included in such Piggyback Registration and shall use its best efforts to cause the managing Underwriter
or Underwriters of a proposed Underwritten Offering to permit the Registrable Securities requested by the Holders pursuant to this&nbsp;<U>subsection
2.2.1</U>&nbsp;to be included in a Piggyback Registration on the same terms and conditions as any similar securities of the Company included
in such Registration and to permit the sale or other disposition of such Registrable Securities in accordance with the intended method(s)&nbsp;of
distribution thereof. All such Holders proposing to distribute their Registrable Securities through an Underwritten Offering under this&nbsp;<U>subsection
2.2.1</U>&nbsp;shall enter into an underwriting agreement in customary form with the Underwriter(s)&nbsp;selected for such Underwritten
Offering by the Company. Notwithstanding the provisions set forth herein, the right to a Piggyback Registration set forth under this Section&nbsp;2.2.1
with respect to the Registrable Securities held by Maxim shall terminate on the seventh anniversary of the Effective Date.</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; text-indent: 1in">2.2.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Reduction
of Pi</U>gg<U>yback Re</U>g<U>istration</U>. If the managing Underwriter or Underwriters in an Underwritten Registration that is to be
a Piggyback Registration, in good faith, advises the Company and the Holders of Registrable Securities participating in the Piggyback
Registration in writing that the dollar amount or number of the Ordinary Shares that the Company desires to sell, taken together with
(i)&nbsp;the Ordinary Shares, if any, as to which Registration has been demanded pursuant to separate written contractual arrangements
with persons or entities other than the Holders of Registrable Securities hereunder (ii)&nbsp;the Registrable Securities as to which registration
has been requested pursuant to&nbsp;<U>Section&nbsp;2.2</U>&nbsp;hereof, and (iii)&nbsp;the Ordinary Shares, if any, as to which Registration
has been requested pursuant to separate written contractual piggy-back registration rights of other shareholders of the Company, exceeds
the Maximum Number of Securities, then:</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; text-indent: 1.5in">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;If
the Registration is undertaken for the Company&rsquo;s account, the Company shall include in any such Registration (A)&nbsp;first,
the Ordinary Shares or other equity securities that the Company desires to sell, which can be sold without exceeding the Maximum
Number of Securities; (B)&nbsp;second, to the extent that the Maximum Number of Securities has not been reached under the foregoing
clause (A), the Registrable Securities of Holders exercising their rights to register their Registrable Securities pursuant
to&nbsp;<U>subsection 2.2.1&nbsp;</U>hereof, Pro Rata, which can be sold without exceeding the Maximum Number of Securities; and
(C)&nbsp;third, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (A)&nbsp;and
(B), the Ordinary Shares, if any, as to which Registration has been requested pursuant to written contractual piggy-back
registration rights of other shareholders of the Company, which can be sold without exceeding the Maximum Number of 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-align: justify; text-indent: 1.5in">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;If
the Registration is pursuant to a request by persons or entities other than the Holders of Registrable Securities, then the Company shall
include in any such Registration (A)&nbsp;first, the Ordinary Shares or other equity securities, if any, of such requesting persons or
entities, other than the Holders of Registrable Securities, which can be sold without exceeding the Maximum Number of Securities; (B)&nbsp;second,
to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (A), the Registrable Securities of
Holders exercising their rights to register their Registrable Securities pursuant to&nbsp;<U>subsection 2.2.1</U>, pro rata based on the
number of Registrable Securities that each Holder has requested be included in such Underwritten Registration and the aggregate number
of Registrable Securities that the Holders have requested to be included in such Underwritten Registration, which can be sold without
exceeding the Maximum Number of Securities; (C)&nbsp;third, to the extent that the Maximum Number of Securities has not been reached under
the foregoing clauses (A)&nbsp;and (B), the Ordinary Shares or other equity securities that the Company desires to sell, which can be
sold without exceeding the Maximum Number of Securities; and (D)&nbsp;fourth, to the extent that the Maximum Number of Securities has
not been reached under the foregoing clauses (A), (B)&nbsp;and (C), the Ordinary Shares or other equity securities for the account of
other persons or entities that the Company is obligated to register pursuant to separate written contractual arrangements with such persons
or entities, which can be sold without exceeding the Maximum Number of 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"></P>

<!-- Field: Page; Sequence: 6 -->
    <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"></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 1in">2.2.3&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Piggyback
Registration Withdrawal</U>. Any Holder of Registrable Securities shall have the right to withdraw from a Piggyback Registration for any
or no reason whatsoever upon written notification to the Company and the Underwriter or Underwriters (if any) of his, her or its intention
to withdraw from such Piggyback Registration prior to the effectiveness of the Registration Statement filed with the Commission with respect
to such Piggyback Registration. The Company (whether on its own good faith determination or as the result of a request for withdrawal
by persons pursuant to separate written contractual obligations) may withdraw a Registration Statement filed with the Commission in connection
with a Piggyback Registration at any time prior to the effectiveness of such Registration Statement. Notwithstanding anything to the contrary
in this Agreement, the Company shall be responsible for the Registration Expenses incurred in connection with the Piggyback Registration
as provided in&nbsp;<U>Section&nbsp;3.2</U>&nbsp;prior to its withdrawal under this&nbsp;<U>subsection 2.2.3</U>.</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; text-indent: 1in">2.2.4&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Unlimited
Piggyback Registration Rights</U>. For purposes of clarity, any Registration effected pursuant to&nbsp;<U>Section&nbsp;2.2</U>&nbsp;hereof
shall not be counted as a Registration pursuant to a Demand Registration effected under&nbsp;<U>Section&nbsp;2.1</U>&nbsp;hereof.</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; text-indent: 0.5in">2.3&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Re</U>g<U>istrations
on Form&nbsp;S-3</U>. The Holders of Registrable Securities may at any time, and from time to time, request in writing that the Company,
pursuant to Rule&nbsp;415 under the Securities Act (or any successor rule&nbsp;promulgated thereafter by the Commission), register the
resale of any or all of their Registrable Securities on Form&nbsp;S-3 or any similar short form registration statement that may be available
at such time&nbsp;<B><I>(&ldquo;Form&nbsp;S-3&rdquo;</I></B><I>):&nbsp;</I><U>provided</U>,&nbsp;<U>however</U>, that the Company shall
not be obligated to effect such request through an Underwritten Offering. Within five (5)&nbsp;days of the Company&rsquo;s receipt of
a written request from a Holder or Holders of Registrable Securities for a Registration on Form&nbsp;S-3, the Company shall promptly give
written notice of the proposed Registration on Form&nbsp;S-3 to all other Holders of Registrable Securities, and each Holder of Registrable
Securities who thereafter wishes to include all or a portion of such Holder&rsquo;s Registrable Securities in such Registration on Form&nbsp;S-3
shall so notify the Company, in writing, within ten (10)&nbsp;days after the receipt by the Holder of the notice from the Company. As
soon as practicable thereafter, but not more than twelve (12) days after the Company&rsquo;s initial receipt of such written request for
a Registration on Form&nbsp;S-3, the Company shall register all or such portion of such Holder&rsquo;s Registrable Securities as are specified
in such written request, together with all or such portion of Registrable Securities of any other Holder or Holders joining in such request
as are specified in the written notification given by such Holder or Holders;&nbsp;<U>provided</U>,&nbsp;<U>however</U>, that the Company
shall not be obligated to effect any such Registration pursuant to&nbsp;<U>Section&nbsp;2.3</U>&nbsp;hereof if (i)&nbsp;a Form&nbsp;S-3
is not available for such offering; or (ii)&nbsp;the Holders of Registrable Securities, together with the Holders of any other equity
securities of the Company entitled to inclusion in such Registration, propose to sell the Registrable Securities and such other equity
securities (if any) at any aggregate price to the public of less than $10,000,000.</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; text-indent: 0.5in">2.4&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Restrictions
on Re</U>g<U>istration Ri</U>g<U>hts</U>. If (A)&nbsp;during the period starting with the date sixty (60) days prior to the Company&rsquo;s
good faith estimate of the date of the filing of, and ending on a date one hundred and twenty (120) days after the effective date of,
a Company initiated Registration and provided that the Company has delivered written notice to the Holders prior to receipt of a Demand
Registration pursuant to&nbsp;<U>subsection 2.1.1</U>&nbsp;and it continues to actively employ, in good faith, all reasonable efforts
to cause the applicable Registration Statement to become effective; (B)&nbsp;the Holders have requested an Underwritten Registration and
the Company and the Holders are unable to obtain the commitment of underwriters to firmly underwrite the offer; or (C)&nbsp;in the good
faith judgment of the Board such Registration would be seriously detrimental to the Company and the Board concludes as a result that it
is essential to defer the filing of such Registration Statement at such time, then in each case the Company shall furnish to such Holders
a certificate signed by a Director of the Board stating that in the good faith judgment of the Board it would be seriously detrimental
to the Company for such Registration Statement to be filed in the near future and that it is therefore essential to defer the filing of
such Registration Statement. In such event, the Company shall have the right to defer such filing for a period of not more than thirty
(30) days.</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: center"><FONT STYLE="text-transform: uppercase"><B>ARTICLE&nbsp;3</B></FONT><B><BR>
COMPANY PROCEDURES</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-align: justify; text-indent: 0.5in">3.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>General
Procedures</U>. If at any time on or after the date the Company consummates a Business Combination the Company is required to effect the
Registration of Registrable Securities, the Company shall use its best efforts to effect such Registration to permit the sale of such
Registrable Securities in accordance with the intended plan of distribution thereof, and pursuant thereto the Company shall, as expeditiously
as possible:</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: 7 -->
    <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"></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 1in">3.1.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;prepare
and file with the Commission as soon as practicable a Registration Statement with respect to such Registrable Securities and use its reasonable
best efforts to cause such Registration Statement to become effective and remain effective until all Registrable Securities covered by
such Registration Statement have been sold;</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; text-indent: 1in">3.1.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;prepare
and file with the Commission such amendments and post-effective amendments to the Registration Statement, and such supplements to the
Prospectus, as may be requested by the Holders or any Underwriter of Registrable Securities or as may be required by the rules, regulations
or instructions applicable to the registration form used by the Company or by the Securities Act or rules&nbsp;and regulations thereunder
to keep the Registration Statement effective until all Registrable Securities covered by such Registration Statement are sold in accordance
with the intended plan of distribution set forth in such Registration Statement or supplement to the 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; text-align: justify; text-indent: 1in">3.1.3&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;prior
to filing a Registration Statement or prospectus, or any amendment or supplement thereto, furnish without charge to the Underwriters,
if any, and the Holders of Registrable Securities included in&nbsp;such Registration, and such Holders&rsquo; legal counsel, copies of
such Registration Statement as proposed to be filed, each amendment and supplement to such Registration Statement (in each case including
all exhibits thereto and documents incorporated by reference therein), the Prospectus included in such Registration Statement (including
each preliminary Prospectus), and such other documents as the Underwriters and the Holders of Registrable Securities included in such
Registration or the legal counsel for any such Holders may request in order to facilitate the disposition of the Registrable Securities
owned by such Holders;</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; text-indent: 1in">3.1.4&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;prior
to any public offering of Registrable Securities, use its best efforts to (i)&nbsp;register or qualify the Registrable Securities covered
by the Registration Statement under such securities or &ldquo;blue sky&rdquo; laws of such jurisdictions in the United States as the Holders
of Registrable Securities included in such Registration Statement (in light of their intended plan of distribution) may request and (ii)&nbsp;take
such action necessary to cause such Registrable Securities covered by the Registration Statement to be registered with or approved by
such other governmental authorities as may be necessary by virtue of the business and operations of the Company and do any and all other
acts and things that may be necessary or advisable to enable the Holders of Registrable Securities included in such Registration Statement
to consummate the disposition of such Registrable Securities in such jurisdictions;&nbsp;<U>provided</U>,&nbsp;<U>however</U>, that the
Company shall not be required to qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify
or take any action to which it would be subject to general service of process or taxation in any such jurisdiction where it is not then
otherwise so subject;</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; text-indent: 1in">3.1.5&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;cause
all such Registrable Securities included in any registration to be listed on such exchanges or otherwise designated for trading in the
same manner as similar securities issued by the Company are then listed or designated or, if no such similar securities are then listed
or designated, in a manner satisfactory to the holders of a majority-in-interest of the Registrable Securities included in such registration;</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; text-indent: 1in">3.1.6&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;provide
a transfer agent or warrant agent, as applicable, and registrar for all such Registrable Securities no later than the effective date of
such Registration Statement;</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; text-indent: 1in">3.1.7&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;advise
each seller of such Registrable Securities, promptly after it shall receive notice or obtain knowledge thereof, of the issuance of any
stop order by the Commission suspending the effectiveness of such Registration Statement or the initiation or threatening of any proceeding
for such purpose and promptly use its reasonable best efforts to prevent the issuance of any stop order or to obtain its withdrawal if
such stop order should be issued;</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; text-indent: 1in">3.1.8&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;at
least five (5)&nbsp;days prior to the filing of any Registration Statement or Prospectus or any amendment or supplement to such Registration
Statement or Prospectus or any document that is to be incorporated by reference into such Registration Statement or Prospectus, furnish
a copy thereof to each seller of such Registrable Securities or its counsel;</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; text-indent: 1in">3.1.9&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;notify
the Holders at any time when a Prospectus relating to such Registration Statement is required to be delivered under the Securities Act,
of the happening of any event as a result of which the Prospectus included in such Registration Statement, as then in effect, includes
a Misstatement, and then to correct such Misstatement as set forth in&nbsp;<U>Section&nbsp;3.4</U>&nbsp;hereof;</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: 8 -->
    <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"></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 1in">3.1.10&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;permit
a representative of the Holders (such representative to be selected by a majority of the participating Holders), the Underwriters, if
any, and any attorney or accountant retained by such Holders or Underwriter to participate, at each such person&rsquo;s own expense, in
the preparation of the Registration Statement, and cause the Company&rsquo;s officers, directors and employees to supply all information
reasonably requested by any such representative, Underwriter, attorney or accountant in connection with the Registration;&nbsp;<U>provided</U>,&nbsp;<U>however</U>,
that such representatives or Underwriters enter into a confidentiality agreement, in form and substance reasonably satisfactory to the
Company, prior to the release or disclosure of any such 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; text-align: justify; text-indent: 1in">3.1.11&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;obtain
a &ldquo;cold comfort&rdquo; letter from the Company&rsquo;s independent registered public accountants in the event of an Underwritten
Registration which the participating Holders may rely on, in customary form and covering such matters of the type customarily covered
by &ldquo;cold comfort&rdquo; letters as the managing Underwriter may reasonably request, and reasonably satisfactory to a majority-in-interest
of the participating Holders;</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; text-indent: 1in">3.1.12&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;on
the date the Registrable Securities are delivered for sale pursuant to such Registration, obtain an opinion, dated such date, of counsel
representing the Company for the purposes of such Registration, addressed to the Holders, the placement agent or sales agent, if any,
and the Underwriters, if any, covering such legal matters with respect to the Registration in respect of which such opinion is being given
as the Holders, placement agent, sales agent, or Underwriter may reasonably request and as are customarily included in such opinions and
negative assurance letters, and reasonably satisfactory to a majority in interest of the participating Holders;</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; text-indent: 1in">3.1.13&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;in
the event of any Underwritten Offering, enter into and perform its obligations under an underwriting agreement, in usual and customary
form, with the managing Underwriter of such 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; text-align: justify; text-indent: 1in">3.1.14&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;make
available to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least twelve (12)
months beginning with the first day of the Company&rsquo;s first full calendar quarter after the effective date of the Registration Statement
which satisfies the provisions of&nbsp;<U>Section&nbsp;11(a)</U>&nbsp;of the Securities Act and Rule&nbsp;158 thereunder (or any successor
rule&nbsp;promulgated thereafter by the Commission);</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; text-indent: 1in">3.1.15&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;if
the Registration involves the Registration of Registrable Securities involving gross proceeds in excess of $55,000,000, use its reasonable
efforts to make available senior executives of the Company to participate in customary &ldquo;road show&rdquo; presentations that may
be reasonably requested by the Underwriter in any Underwritten Offering; and</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; text-indent: 1in">3.1.16&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;otherwise,
in good faith, cooperate reasonably with, and take such customary actions as may reasonably be requested by the Holders, in connection
with such Registration.</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; text-indent: 0.5in">3.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Re</U>g<U>istration
Expenses</U>. The Registration Expenses of all Registrations shall be borne by the Company. It is acknowledged by the Holders that the
Holders shall bear all incremental selling expenses relating to the sale of Registrable Securities, such as Underwriters&rsquo; commissions
and discounts, brokerage fees, Underwriter marketing costs and, other than as set forth in the definition of &ldquo;Registration Expenses,&rdquo;
all reasonable fees and expenses of any legal counsel representing the Holders.</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; text-indent: 0.5in">3.3&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Requirements
for Participation in Underwritten Offerings</U>. No person may participate in any Underwritten Offering for equity securities of the Company
pursuant to a Registration initiated by the Company hereunder unless such person (i)&nbsp;agrees to sell such person&rsquo;s securities
on the basis provided in any underwriting arrangements approved by the Company and (ii)&nbsp;completes and executes all customary questionnaires,
powers of attorney, indemnities, lock-up agreements, underwriting agreements and other customary documents as may be reasonably required
under the terms of such underwriting arrangements.</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; text-indent: 0.5in">3.4&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Suspension
of Sales; Adverse Disclosure</U>. Upon receipt of written notice from the Company that a Registration Statement or Prospectus contains
a Misstatement, each of the Holders shall forthwith discontinue disposition of Registrable Securities until it has received copies of
a supplemented or amended Prospectus correcting the Misstatement (it being understood that the Company hereby covenants to prepare and
file such supplement or amendment as soon as practicable after the time of such notice), or until it is advised in writing by the Company
that the use of the Prospectus may be resumed. If the filing, initial effectiveness or continued use of a Registration Statement in respect
of any Registration at any time would require the Company to make an Adverse Disclosure or would require the inclusion in such Registration
Statement of financial statements that are unavailable to the Company for reasons beyond the Company&rsquo;s control, the Company may,
upon giving prompt written notice of such action to the Holders, delay the filing or initial effectiveness of, or suspend use of, such
Registration Statement for the shortest period of time, but in no event more than thirty (30) days, determined in good faith by the Company
to be necessary for such purpose. In the event the Company exercises its rights under the preceding sentence, the Holders agree to suspend,
immediately upon their receipt of the notice referred to above, their use of the Prospectus relating to any Registration in connection
with any sale or offer to sell Registrable Securities. The Company shall immediately notify the Holders of the expiration of any period
during which it exercised its rights under this&nbsp;<U>Section&nbsp;3.4</U>.</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: 9 -->
    <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"></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in">3.5&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Reporting
Obligations</U>. As long as any Holder shall own Registrable Securities, the Company, at all times while it shall be a reporting company
under the Exchange Act, covenants to file timely (or obtain extensions in respect thereof and file within the applicable grace period)
all reports required to be filed by the Company after the date hereof pursuant to&nbsp;<U>Sections 13(a)</U>&nbsp;or&nbsp;<U>15(d)</U>&nbsp;of
the Exchange Act and to promptly furnish the Holders with true and complete copies of all such filings. The Company further covenants
that it shall take such further action as any Holder may reasonably request, all to the extent required from time to time to enable such
Holder to sell Ordinary Shares held by such Holder without registration under the Securities Act within the limitation of the exemptions
provided by Rule&nbsp;144 promulgated under the Securities Act (or any successor rule&nbsp;promulgated thereafter by the Commission),
including providing any legal opinions. Upon the request of any Holder, the Company shall deliver to such Holder a written certification
of a duly authorized officer as to whether it has complied with such requirements.</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: center"><FONT STYLE="text-transform: uppercase"><B>ARTICLE&nbsp;4</B></FONT><B><BR>
INDEMNIFICATION AND CONTRIBUTION</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-align: justify; text-indent: 0.5in">4.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Indemnification</U>.</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; text-indent: 1in">4.1.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Company agrees to indemnify, to the extent permitted by law, each Holder of Registrable Securities, and each of its officers, employees,
and directors and each person who controls such Holder (within the meaning of the Securities Act) against all expenses, losses, judgements,
claims, damages, liabilities and expenses (including attorneys&rsquo; fees) caused by any untrue statement of material fact contained
in any Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto or any omission of
a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as the same are
caused by or contained in any information furnished in writing to the Company by such Holder expressly for use therein. The Company shall
indemnify the Underwriters, their officers and directors and each person who controls such Underwriters (within the meaning of the Securities
Act) to the same extent as provided in the foregoing with respect to the indemnification of the Holder.</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; text-indent: 1in">4.1.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;In
connection with any Registration Statement in which a Holder of Registrable Securities is participating, such Holder shall furnish to
the Company in writing such information and affidavits as the Company reasonably requests for use in connection with any such Registration
Statement or Prospectus and, to the extent permitted by law, shall indemnify the Company, its directors and officers and agents and each
person who controls the Company (within the meaning of the Securities Act) against any losses, claims, damages, liabilities and expenses
(including without limitation reasonable attorneys&rsquo; fees) resulting from any untrue statement of material fact contained in the
Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto or any omission of a material
fact required to be stated therein or necessary to make the statements therein not misleading, but only to the extent that such untrue
statement or omission is contained in any information or affidavit so furnished in writing by such Holder expressly for use therein;&nbsp;<U>provided</U>,&nbsp;<U>however</U>,
that the obligation to indemnify shall be several, not joint and several, among such Holders of Registrable Securities, and the liability
of each such Holder of Registrable Securities shall be in proportion to and limited to the net proceeds received by such Holder from the
sale of Registrable Securities pursuant to such Registration Statement. The Holders of Registrable Securities shall indemnify the Underwriters,
their officers, directors and each person who controls such Underwriters (within the meaning of the Securities Act) to the same extent
as provided in the foregoing with respect to indemnification of the Company.</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; text-indent: 1in">4.1.3&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Any
person entitled to indemnification herein shall (i)&nbsp;give prompt written notice to the indemnifying party of any claim with respect
to which it seeks indemnification (provided that the failure to give prompt notice shall not impair any person&rsquo;s right to indemnification
hereunder to the extent such failure has not materially prejudiced the indemnifying party) and (ii)&nbsp;unless in such indemnified party&rsquo;s
reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist with respect to such claim, permit
such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party. If such defense
is assumed, the indemnifying party shall not be subject to any liability for any settlement made by the indemnified party without its
consent (but such consent shall not be unreasonably withheld). An indemnifying party who is not entitled to, or elects not to, assume
the defense of a claim shall not be obligated to pay the fees and expenses of more than one counsel for all parties indemnified by such
indemnifying party with respect to such claim, unless in the reasonable judgment of any indemnified party a conflict of interest may exist
between such indemnified party and any other of such indemnified parties with respect to such claim. No indemnifying party shall, without
the consent of the indemnified party, consent to the entry of any judgment or enter into any settlement which cannot be settled in all
respects by the payment of money (and such money is so paid by the indemnifying party pursuant to the terms of such settlement) or which
settlement does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a release
from all liability in respect to such claim or litigation.</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: 10 -->
    <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"></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 1in">4.1.4&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
indemnification provided for under this Agreement shall remain in full force and effect regardless of any investigation made by or
on behalf of the indemnified party or any officer, director or controlling person of such indemnified party and shall survive the
transfer of securities. The Company and each Holder of Registrable Securities participating in an offering also agrees to make such
provisions as are reasonably requested by any indemnified party for contribution to such party in the event the Company&rsquo;s or
such Holder&rsquo;s indemnification is unavailable for any reason.</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; text-indent: 1in">4.1.5&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;If
the indemnification provided under&nbsp;<U>Section&nbsp;4.1</U>&nbsp;hereof from the indemnifying party is unavailable or insufficient
to hold harmless an indemnified party in respect of any losses, claims, damages, liabilities and expenses referred to herein, then the
indemnifying party, in lieu of indemnifying the indemnified party, shall contribute to the amount paid or payable by the indemnified party
as a result of such losses, claims, damages, liabilities and expenses in such proportion as is appropriate to reflect the relative fault
of the indemnifying party and the indemnified party, as well as any other relevant equitable considerations. The relative fault of the
indemnifying party and indemnified party shall be determined by reference to, among other things, whether any action in question, including
any untrue statement of a material fact or omission to state a material&nbsp;fact, was made by, or relates to information supplied by,
such indemnifying party or indemnified party, and the indemnifying party&rsquo;s and indemnified party&rsquo;s relative intent, knowledge,
access to information and opportunity to correct or prevent such action;&nbsp;<U>provided</U>,&nbsp;<U>however</U>, that the liability
of any Holder under this&nbsp;<U>subsection 4.1.5</U>&nbsp;shall be limited to the amount of the net proceeds received by such Holder
in such offering giving rise to such liability. The amount paid or payable by a party as a result of the losses or other liabilities referred
to above shall be deemed to include, subject to the limitations set forth in&nbsp;<U>subsections 4.1.1</U>,&nbsp;<U>4.1.2</U>&nbsp;and&nbsp;<U>4.1.3</U>&nbsp;above,
any legal or other fees, charges or expenses reasonably incurred by such party in connection with any investigation or proceeding. The
parties hereto agree that it would not be just and equitable if contribution pursuant to this&nbsp;<U>subsection 4.1.5</U>&nbsp;were determined
by pro rata allocation or by any other method of allocation, which does not take account of the equitable considerations referred to in
this&nbsp;<U>subsection 4.1.5</U>. No person guilty of fraudulent misrepresentation (within the meaning of&nbsp;<U>Section&nbsp;11(f)</U>&nbsp;of
the Securities Act) shall be entitled to contribution pursuant to this&nbsp;<U>subsection 4.1.5</U>&nbsp;from any person who was not guilty
of such fraudulent misrepresentation.</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: center"><FONT STYLE="text-transform: uppercase"><B>ARTICLE&nbsp;5</B></FONT><B><BR>
MISCELLANEOUS</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-align: justify; text-indent: 0.5in">5.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Notices</U>.
Any notice or communication under this Agreement must be in writing and given by (i)&nbsp;deposit in the United States mail, addressed
to the party to be notified, postage prepaid and registered or certified with return receipt requested, (ii)&nbsp;delivery in person or
by courier service providing evidence of delivery, or (iii)&nbsp;transmission by hand delivery, electronic mail, telecopy, telegram or
facsimile. Each notice or communication that is mailed, delivered, or transmitted in the manner described above shall be deemed sufficiently
given, served, sent, and received, in the case of mailed notices, on the third business day following the date on which it is mailed and,
in the case of notices delivered by courier service, hand delivery, electronic mail, telecopy, telegram or contact information, at such
time as it is delivered to the addressee (with the delivery receipt or the affidavit of messenger) or at such time as delivery is refused
by the addressee upon presentation. Any notice or communication under this Agreement must be addressed, if to the Company, to: 29/F, Sun&rsquo;s
Group Center, 200 Gloucester Road, Wan Chai, Hong Kong, and, if to any Holder, at such Holder&rsquo;s address or facsimile number as set
forth in the Company&rsquo;s books and records. Any party may change its address for notice at any time and from time to time by written
notice to the other parties hereto, and such change of address shall become effective thirty (30) days after delivery of such notice as
provided in this&nbsp;<U>Section&nbsp;5.1</U>.</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; text-indent: 0.5in">5.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Assignment;
No Third Party Beneficiaries</U>.</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; text-indent: 1in">5.2.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;This
Agreement and the rights, duties and obligations of the Company hereunder may not be assigned or delegated by the Company in whole or
in part.</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; text-indent: 1in">5.2.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Prior
to the expiration of the Founder Shares Lock-up Period or the Private Placement Lock-up Period, as the case may be, no Holder may assign
or delegate such Holder&rsquo;s rights, duties or obligations under this Agreement, in whole or in part, except in connection with a transfer
of Registrable Securities by such Holder to a Permitted Transferee but only if such Permitted Transferee agrees to become bound by the
transfer restrictions set forth in this Agreement, the Insider Letter and any other applicable agreement between such Holder and the Company.</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: 11 -->
    <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"></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 1in">5.2.3&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;This
Agreement and the provisions hereof shall be binding upon and shall inure to the benefit of each of the parties and its successors and
the permitted assigns of the Holders, which shall include Permitted Transferees.</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; text-indent: 1in">5.2.4&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;This
Agreement shall not confer any rights or benefits on any persons that are not parties hereto, other than as expressly set forth in this
Agreement and&nbsp;<U>Section&nbsp;5.2</U>&nbsp;hereof.</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; text-indent: 1in">5.2.5&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;No
assignment by any party hereto of such party&rsquo;s rights, duties and obligations hereunder shall be binding upon or obligate the Company
unless and until the Company shall have received (i)&nbsp;written notice of such assignment as provided in&nbsp;<U>Section&nbsp;5.1</U>&nbsp;hereof
and (ii)&nbsp;the written agreement of the assignee, in a form reasonably satisfactory to the Company, to be bound by the terms and provisions
of this Agreement (which may be accomplished by an addendum or certificate of joinder to this Agreement). Any transfer or assignment made
other than as provided in this&nbsp;<U>Section&nbsp;5.2</U>&nbsp;shall be null and void.</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; text-indent: 0.5in">5.3&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Counterparts</U>.
This Agreement may be executed in multiple counterparts (including facsimile or PDF counterparts), each of which shall be deemed an original,
and all of which together shall constitute the same instrument, but only one of which need be produced.</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; text-indent: 0.5in">5.4&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Governing
Law; Venue</U>. NOTWITHSTANDING THE PLACE WHERE THIS AGREEMENT MAY&nbsp;BE EXECUTED BY ANY OF THE PARTIES HERETO, THE PARTIES EXPRESSLY
AGREE THAT&nbsp;(I)&nbsp;THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED UNDER THE LAWS OF THE STATE OF NEW YORK AS APPLIED TO AGREEMENTS
AMONG NEW YORK RESIDENTS ENTERED INTO AND TO BE PERFORMED ENTIRELY WITHIN NEW YORK, WITHOUT REGARD TO THE CONFLICT OF LAW PROVISIONS OF
SUCH JURISDICTION AND (II)&nbsp;THE VENUE FOR ANY ACTION TAKEN WITH RESPECT TO THIS AGREEMENT SHALL BE ANY STATE OR FEDERAL COURT IN NEW
YORK COUNTY IN THE STATE OF NEW YORK.</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; text-indent: 0.5in">5.5&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Amendments
and Modifications</U>. Upon the written consent of the Company and the Holders of at least a majority in interest of the Registrable
Securities at the time in question, compliance with any of the provisions, covenants and conditions set forth in this Agreement may
be waived, or any of such provisions, covenants or conditions may be amended or modified;&nbsp;<U>provided</U>,&nbsp;<U>however</U>,
that notwithstanding the foregoing, any amendment hereto or waiver hereof that adversely affects one Holder, solely in its capacity
as a holder of the shares of the Company, in a manner that is materially different from the other Holders (in such capacity) shall
require the consent of the Holder so affected. No course of dealing between any Holder or the Company and any other party hereto or
any failure or delay on the part of a Holder or the Company in exercising any rights or remedies under this Agreement shall operate
as a waiver of any rights or remedies of any Holder or the Company. No single or partial exercise of any rights or remedies under
this Agreement by a party shall operate as a waiver or preclude the exercise of any other rights or remedies hereunder or thereunder
by such party.</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; text-indent: 0.5in">5.6&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Other
Re</U>g<U>istration Ri</U>g<U>hts</U>. The Company represents and warrants that no person, other than a Holder of Registrable Securities,
has any right to require the Company to register any securities of the Company for sale or to include such securities of the Company in
any Registration filed by the Company for the sale of securities for its own account or for the account of any other person. Further,
the Company represents and warrants that this Agreement supersedes any other registration rights agreement or agreement with similar terms
and conditions and in the event of a conflict between any such agreement or agreements and this Agreement, the terms of this Agreement
shall prevail.</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; text-indent: 0.5in">5.7&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Term</U>.
This Agreement shall terminate upon the earlier of (i)&nbsp;the tenth anniversary of the date of this Agreement or (ii)&nbsp;the date
as of which (A)&nbsp;all of the Registrable Securities have been sold pursuant to a Registration Statement (but in no event prior to the
applicable period referred to in Section&nbsp;4(a)(3)&nbsp;of the Securities Act and Rule&nbsp;174 thereunder (or any successor rule&nbsp;promulgated
thereafter by the Commission)) or (B)&nbsp;the Holders of all Registrable Securities are permitted to sell the Registrable Securities
under Rule&nbsp;144 (or any similar provision) under the Securities Act without limitation on the amount of securities sold or the manner
of sale. The provisions of&nbsp;<U>Section&nbsp;3.5</U>&nbsp;and&nbsp;<I><U>Article&nbsp;IV</U></I>&nbsp;shall survive any termination.</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: 12 -->
    <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"></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in">5.8&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<U>Forfeiture</U>.
In the event the over-allotment option granted to the Underwriter of the Offering is not exercised in full, the Holder acknowledges and
agrees that it (and, if applicable, any transferee of any of the Class&nbsp;B Ordinary Shares purchased and issued to the Holder hereunder)
shall forfeit any and all rights to such number of the Class&nbsp;B Ordinary Shares purchased and issued to the Holder hereunder (up to
an aggregate of all of the 206,250 Class&nbsp;B Ordinary Shares so purchased and issued and pro rata based upon the percentage of the
over-allotment option exercised) such that immediately following such forfeiture, the Holder (and any such transferees of the Holder)
will own, in total, an aggregate number of the ordinary shares (not including the ordinary shares underlying any private placement units
or rights (whether comprised in any such units or standing alone) that may be issued to the Holder upon exercise of any securities or
rights purchased by the Holder in the Offering or in the aftermarket) equal to 20% of the issued and outstanding ordinary shares of the
Company immediately following the Offering. If any of the Class&nbsp;B Ordinary Shares are forfeited in accordance with this clause 5.8,
then after such time the Holder (or any successor in interest), shall no longer have any rights as a holder of such forfeited Class&nbsp;B
Ordinary Shares, and the Company shall take such action as is appropriate to redeem and cancel such forfeited Class&nbsp;B Ordinary Shares,
which may include by way of the compulsory redemption and cancellation of such Class&nbsp;B Ordinary Shares for nil consideration. In
addition, the Holder hereby irrevocably grants the Company a limited power of attorney for the purpose of effectuating the foregoing and
agrees to take any and all action reasonably requested by the Company necessary to effect any adjustment in this clause 5.8 (including
any such redemption as is referred to herein above).</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: center"><B>[SIGNATURE PAGES FOLLOW]</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"></P>

<!-- Field: Page; Sequence: 13 -->
    <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"></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in"><B>IN WITNESS WHEREOF,&nbsp;</B>the
undersigned have caused this Agreement to be executed as of the date first written above.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; background-color: white">
<TD COLSPAN="3"><B>COMPANY:</B></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD COLSPAN="3">&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD COLSPAN="3">A SPAC III ACQUISITION CORP.</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD COLSPAN="3">a British Virgin Islands business company</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD COLSPAN="3">&nbsp; &nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD>By:</TD>
<TD COLSPAN="2" STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD STYLE="width: 3%">&nbsp;</TD>
<TD STYLE="width: 5%">Name:</TD>
<TD STYLE="width: 47%">Claudius Tsang</TD>
<TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD>&nbsp;</TD>
<TD>Title:</TD>
<TD>Chief Executive Officer</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD COLSPAN="3">&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD COLSPAN="3">A SPAC III (HOLDINGS) CORP.</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD COLSPAN="3">a British Virgin Islands business company</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD COLSPAN="3">&nbsp; &nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD>By:</TD>
<TD COLSPAN="2" STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD>&nbsp;</TD>
<TD>Name:</TD>
<TD>Claudius Tsang</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD>&nbsp;</TD>
<TD>Title:</TD>
<TD>Authorized Signatory</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD COLSPAN="3">&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD COLSPAN="3">MAXIM GROUP LLC</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD COLSPAN="3">&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD>By:</TD>
<TD COLSPAN="2" STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD>&nbsp;</TD>
<TD>Name:</TD>
<TD>[&bull;]</TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
<TD>&nbsp;</TD>
<TD>Title:</TD>
<TD>[&bull;]</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: 14 -->
    <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"></P></DIV>
    <DIV STYLE="break-before: page; 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">[Signature Page&nbsp;to Registration Rights Agreement]</P>

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



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

<!-- Field: Page; Sequence: 15; Options: Last -->
    <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"></P></DIV>
    <!-- Field: /Page -->

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.6
<SEQUENCE>10
<FILENAME>filename10.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.6</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNIT SUBSCRIPTION AGREEMENT</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-align: justify; text-indent: 0.5in">This UNIT SUBSCRIPTION AGREEMENT
(this &ldquo;<B><I>Agreement</I></B>&rdquo;) is made as of this [&#8239;&#8239;&#8239; ], 2024, by and between A SPAC III Acquisition
Corp., a British Virgin Islands business company (the &ldquo;<B><I>Company</I></B>&rdquo;), having its principal place of business at
29/F Sun&rsquo;s Group Center, 200 Gloucester Road, Wan Chai, Hong Kong and A SPAC III (Holdings) Corp., a British Virgin Islands business
company (the &ldquo;<B><I>Purchaser</I></B>&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; text-align: justify; text-indent: 0.5in">WHEREAS, the Company desires
to sell on a private placement basis (the &ldquo;<B><I>Offering</I></B>&rdquo;) an aggregate of up to 280,000 units (the &ldquo;<B><I>Initial
Units</I></B>&rdquo;) of the Company, and up to an additional 8,250 Units (&ldquo;<B><I>Additional Units</I></B>&rdquo; and together with
the Initial Units, the &ldquo;<B><I>Units</I></B>&rdquo;) of the Company in the event that the underwriters&rsquo; 45-day over-allotment
option (&ldquo;<B><I>Over-Allotment Option</I></B>&rdquo;) in the Offering is exercised in full or part, each Unit comprised of one Class&nbsp;A
ordinary share of the Company, no par value (the &ldquo;<B><I>Ordinary Shares</I></B>&rdquo;) and one right (the&nbsp;&ldquo;<B><I>Right&rdquo;</I></B>),
for a purchase price of $10.00 per Unit. Each Right entitles the holder thereof to receive one-fourth (1/4) of one Class&nbsp;A Ordinary
Share (the &ldquo;<B><I>Right Shares</I></B>&rdquo;) to be governed by the Rights Agreement (defined 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; text-align: justify; text-indent: 0.5in">WHEREAS, the Purchaser desires
to purchase the 280,000 Initial Units and up to 8,250 Additional Units and the Company wishes to accept such subscription.</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; text-indent: 0.5in">NOW, THEREFORE, in consideration
of the promises and the mutual covenants hereinafter set forth and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Company and the Purchaser hereby agree as follows:</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; text-indent: 0.5in"><FONT STYLE="color: #010000">1.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Agreement
to Subscribe</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; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">1.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Purchase
and Issuance of the Units</U>. For the aggregate sum of $2,800,000 (the &ldquo;<B><I>Initial Purchase Price</I></B>&rdquo;), upon the
terms and subject to the conditions of this Agreement, the Purchaser hereby agrees to purchase from the Company, and the Company hereby
agrees to sell to the Purchaser, on the Closing Date (as defined in Section&nbsp;1.2) 280,000 Initial Units at $10.00 per Initial Unit.</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; text-indent: 0.5in">In addition to the foregoing,
the Purchaser hereby agrees to purchase up to an additional 8,250 Additional Units at $10.00 per Additional Unit for a purchase price
of up to $82,500 (the &ldquo;<B><I>Additional Purchase Price</I></B>&rdquo; and together with the Initial Purchase Price, the &ldquo;<B><I>Purchase
Price</I></B>&rdquo;). The purchase and issuance of the Additional Units shall occur only in the event that the Over-Allotment Option
is exercised in full or part. The total number of Additional Units to be purchased hereunder shall be in the same proportion as the amount
of the Over-Allotment Option that is exercised. Each purchase of Additional Units shall occur simultaneously with the consummation of
any portion of the 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; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">1.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Closing</U>.
The closing of the purchase and sale of the Initial Units shall take place at the offices of Ellenoff Grossman&nbsp;&amp; Schole
LLP, 1345 Avenue of the Americas, 11<SUP>th</SUP> Fl., New York NY 10105 simultaneously with the consummation of the Company&rsquo;s
initial public offering (&ldquo;<B><I>IPO</I></B>&rdquo;) of 5,500,000 units consisting of Ordinary Shares and Rights and the
purchase and sale of the Additional Units shall take place upon the consummation of the exercise of all or any portion of the
Over-Allotment Option (each a &ldquo;<B><I>Closing Date</I></B>&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; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">1.3&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Delivery
of the Purchase Price</U>. The Initial Purchase Price is currently held in an account at Continental Stock Transfer&nbsp;&amp; Trust Company,
LLC (&ldquo;<B><I>CST</I></B>&rdquo;). At least one business day prior to the effective date of the Company&rsquo;s registration statement
relating to the IPO (&ldquo;<B><I>Registration Statement</I></B>&rdquo;), or the date of the exercise of the Over-Allotment Option, if
any, the Purchaser agrees to deliver the Initial Purchase Price or Additional Purchase Price, as the case may be, by certified bank check
or wire transfer of immediately available funds denominated in United States Dollars to CST, which is hereby irrevocably authorized to
deposit such funds on the applicable Closing Date to the trust account which will be established for the benefit of the Company&rsquo;s
public shareholders, managed pursuant to that certain Investment Management Trust Agreement to be entered into by and between the Company
and CST and into which substantially all of the proceeds of the IPO will be deposited (the &ldquo;<B><I>Trust Account</I></B>&rdquo;).
If the IPO is not consummated within 14 days of the date the Initial Purchase Price is delivered to CST, the Initial Purchase Price shall
be returned to the Purchaser by certified bank check or wire transfer of immediately available funds denominated in United States Dollars,
without interest or deduction.</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; text-indent: 1in"><FONT STYLE="color: #010000">1.4&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Delivery
of Unit Certificate</U>. Upon the applicable Closing Date after delivery of the Purchase Price in accordance with Section&nbsp;1.3, the
Purchaser shall become irrevocably entitled to receive a unit certificate representing the Units purchased hereunder.</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: 1 -->
    <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"></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">2.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Representations
and Warranties of the Purchaser</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; text-align: justify; text-indent: 0.5in">The Purchaser represents and
warrants to the Company that:</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; text-indent: 1in"><FONT STYLE="color: #010000">2.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>No
Government Recommendation or Approval</U>. It understands that no United States federal or state agency or similar agency of any other
country has passed upon or made any recommendation or endorsement of the Company, the Offering, the Units, the Rights, the Right Shares
or the Ordinary Shares underlying the Units (excluding the Right Shares, the &ldquo;<B><I>Unit Shares</I></B>&rdquo; and, collectively
with the Units, the Right Shares, the &ldquo;<B><I>Securities</I></B>&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; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">2.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Organization</U>.&nbsp;
It is a business company, validly existing and in good standing under the laws of the British Virgin Islands and possesses all requisite
power and authority necessary to carry out the transactions contemplated by this 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; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">2.3&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Private
Offering</U>. It is an &ldquo;accredited investor&rdquo; as such term is defined in Rule&nbsp;501(a)&nbsp;of Regulation D under the Securities
Act of 1933, as amended (the &ldquo;<B><I>Securities Act</I></B>&rdquo;) or it is not a &ldquo;U.S. Person&rdquo; as defined in Rule&nbsp;902
of Regulation S (&ldquo;<B><I>Regulation S</I></B>&rdquo;) under the Securities Act. It acknowledges that the sale contemplated hereby
is being made in reliance on a private placement exemption to &ldquo;Accredited Investors&rdquo; within the meaning of Section&nbsp;501(a)&nbsp;of
Regulation D under the Securities Act and similar exemptions under state law or a non-U.S. Person under Regulation S.</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; text-indent: 1in"><FONT STYLE="color: #010000">2.4&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Authority</U>.
This Agreement has been validly authorized, executed and delivered by the Purchaser and is a valid and binding agreement enforceable
in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent
conveyance or similar laws affecting the enforcement of creditors&rsquo; rights generally and subject to general principles of
equity (regardless of whether enforcement is sought in a proceeding at law or in equity).</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; text-indent: 1in"><FONT STYLE="color: #010000">2.5&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>No
Conflicts</U>. The execution, delivery and performance of this Agreement and the consummation by the Purchaser of the transactions contemplated
hereby do not violate, conflict with or constitute a default under (i)&nbsp;the Purchaser&rsquo;s organizational documents, (ii)&nbsp;any
agreement, indenture or instrument to which the Purchaser is a party or (iii)&nbsp;any law, statute, rule&nbsp;or regulation to which
the Purchaser is subject, or any agreement, order, judgment or decree to which the Purchaser is subject.</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; text-indent: 1in"><FONT STYLE="color: #010000">2.6&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Access
to Information; Independent Investigation</U>. Prior to the execution of this Agreement, it has had the opportunity to ask questions of
and receive answers from representatives of the Company concerning an investment in the Company, as well as the finances, operations,
business and prospects of the Company, and the opportunity to obtain additional information to verify the accuracy of all information
so obtained. In determining whether to make this investment, it has relied solely on its own knowledge and understanding of the Company
and its business based upon its own due diligence investigation and the information furnished pursuant to this paragraph. It understands
that no person has been authorized to give any information or to make any representations which were not furnished pursuant to this Section&nbsp;2
and it has not relied on any other representations or information in making its investment decision, whether written or oral, relating
to the Company, its operations and/or its prospects.</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; text-indent: 1in"><FONT STYLE="color: #010000">2.7&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Reliance
on Representations and Warranties</U>. It understands the Units are being offered and sold to it in reliance on exemptions from the registration
requirements under the Securities Act, and analogous provisions in the laws and regulations of various states, and that the Company is
relying upon the truth and accuracy of the representations, warranties, agreements, acknowledgments and understandings of the Purchaser
set forth in this Agreement in order to determine the applicability of such provisions.</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; text-indent: 1in"><FONT STYLE="color: #010000">2.8&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>No
Advertisements</U>. It is not subscribing for the Units as a result of or subsequent to any advertisement, article, notice or other communication
published in any newspaper, magazine, or similar media or broadcast over television or radio, or presented at any seminar or meeting.</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; text-indent: 1in"><FONT STYLE="color: #010000">2.9&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Legend</U>.
It acknowledges and agrees the certificates evidencing the Units, the Shares&nbsp;and the Rights shall bear a restrictive legend (the
 &ldquo;<B><I>Legend</I></B>&rdquo;), in form and substance as set forth in Section&nbsp;4 hereof, prohibiting the offer, sale, pledge
or transfer of the securities, except (i)&nbsp;pursuant to an effective registration statement covering these securities under the Securities
Act or (ii)&nbsp;pursuant to any other exemptions from the registration requirements under the Securities Act and such laws which, in
the opinion of counsel for the Company, is available.</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: 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"></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 1in"><FONT STYLE="color: #010000">2.10&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Experience,
Financial Capability and Suitability</U>. It is (i)&nbsp;sophisticated in financial matters and is able to evaluate the risks and benefits
of the investment in the Securities and (ii)&nbsp;able to bear the economic risk of his investment in the Securities for an indefinite
period of time because the Securities have not been registered under the Securities Act and therefore cannot be sold unless subsequently
registered under the Securities Act or an exemption from such registration is available. It has substantial experience in evaluating and
investing in transactions of securities in companies similar to the Company so that it is capable of evaluating the merits and risks of
its investment in the Company and has the capacity to protect its own interests. It has substantial experience in evaluating and investing
in transactions of securities in companies similar to the Company so that it is capable of evaluating the merits and risks of its investment
in the Company and has the capacity to protect its own interests.</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; text-indent: 1in"><FONT STYLE="color: #010000">2.11&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Investment
Purposes</U>. It is purchasing the Securities solely for investment purposes, for its own account and not for the account or benefit of
any other person, and not with a view towards the distribution or dissemination thereof and it has no present arrangement to sell the
interest in the Securities to or through any person or entity.</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; text-indent: 1in"><FONT STYLE="color: #010000">2.12&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Restrictions
on Transfer</U>. It acknowledges and understands the Units are being offered in a transaction not involving a public offering in the United
States within the meaning of the Securities Act. The Securities have not been registered under the Securities Act, and, if in the future,
it decides to offer, resell, pledge or otherwise transfer the Securities, such Securities may be offered, resold, pledged or otherwise
transferred only (A)&nbsp;pursuant to an effective registration statement filed under the Securities Act, (B)&nbsp;pursuant to an exemption
from registration under Rule&nbsp;144 promulgated under the Securities Act (&ldquo;<B><I>Rule&nbsp;144</I></B>&rdquo;), if available,
or (C)&nbsp;pursuant to any other available exemption from the registration requirements of the Securities Act, and in each case in accordance
with any applicable securities laws of any state or any other jurisdiction. It agrees that if any transfer of its Securities or any interest
therein is proposed to be made, as a condition precedent to any such transfer, it may be required to deliver to the Company an opinion
of counsel satisfactory to the Company. Absent registration or another available exemption from registration, it agrees it will not resell
the Securities. It further acknowledges that because the Company is a shell company, Rule&nbsp;144 may not be available to it for the
resale of the Securities until the one-year anniversary following consummation of the initial Business Combination (defined below) of
the Company, despite technical compliance with the requirements of Rule&nbsp;144 and the release or waiver of any contractual transfer
restrictions.</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; text-indent: 0.5in"><FONT STYLE="color: #010000">3.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Representations
and Warranties of the Company</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; text-align: justify; text-indent: 0.5in">The Company represents and
warrants to the Purchaser that:</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; text-indent: 1in"><FONT STYLE="color: #010000">3.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Valid
Issuance of Share Capital</U>. The total number of all classes of share capital which the Company has authority to issue is (i)&nbsp;100,000,000
Class&nbsp;A Ordinary Shares, (ii)&nbsp;10,000,000 Class&nbsp;B ordinary shares, and (iii)&nbsp;1,000,000 undesignated preference shares.
As of the date hereof, the Company has issued 1,581,250 Class&nbsp;B ordinary shares (of which up to 206,250 Class&nbsp;B ordinary shares
are subject to forfeiture as described in the Registration Statement related to the IPO) and has not issued any preference shares. All
of the issued share capital of the Company has been duly authorized, validly issued, and are fully paid and non-assessable.</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; text-indent: 1in"><FONT STYLE="color: #010000">3.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Title
to Securities</U>. Upon issuance in accordance with, and payment pursuant to, the terms hereof<B><I>,</I></B>&nbsp;the rights
agreement to be entered into with CST on or prior to the closing of the IPO (the &ldquo;<B><I>Rights Agreement</I></B>&rdquo;) and
the Amended and Restated Memorandum and Articles of Association of the Company, as the case may be, each of the Rights and the
Ordinary Shares will be duly and validly issued, fully paid and non-assessable. On the date of issuance of the Units and the Right
Shares shall have been reserved for issuance. Upon issuance in accordance with the terms hereof, the Rights Agreement and the
Amended and Restated Memorandum and Articles of Association of the Company, the Purchaser will have or receive good title to the
Right Shares, free and clear of all liens, claims and encumbrances of any kind other than (i)&nbsp;transfer restrictions hereunder
and pursuant to the registration rights agreement to be entered into on or prior to the closing of the IPO (the
 &ldquo;<B><I>Registration Rights Agreement</I></B>&rdquo;) and (ii)&nbsp;transfer restrictions under federal and state 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; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">3.3&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Organization
and Qualification</U>. The Company has been duly incorporated and is validly existing as a British Virgin Islands business company and
has the requisite corporate power to own its properties and assets and to carry on its business as now being conducted.</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: 3 -->
    <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"></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 1in"><FONT STYLE="color: #010000">3.4&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Authorization;
Enforcement</U>. (i)&nbsp;The Company has the requisite corporate power and authority to enter into and perform its obligations under
this Agreement and to issue the Securities in accordance with the terms hereof, (ii)&nbsp;the execution, delivery and performance of this
Agreement by the Company and the consummation by it of the transactions contemplated hereby have been duly authorized by all necessary
corporate action, and (iii)&nbsp;this Agreement constitutes, and upon the execution and delivery thereof, the Rights and Rights Agreement,
will constitute, valid and binding obligations of the Company enforceable against the Company in accordance with their respective terms,
except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance, moratorium, reorganization,
or similar laws relating to, or affecting generally the enforcement of, creditors&rsquo; rights and remedies or by equitable principles
of general application and except as enforcement of rights to indemnity and contribution may be limited by federal and state securities
laws or principles of public policy.</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; text-indent: 1in"><FONT STYLE="color: #010000">3.5&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>No
Conflicts</U>. The execution, delivery and performance of this Agreement and the consummation by the Company of the transactions contemplated
hereby do not (i)&nbsp;result in a violation of the Company&rsquo;s Memorandum and Articles of Association, (ii)&nbsp;conflict with, or
constitute a default under any agreement, indenture or instrument to which the Company is a party or (iii)&nbsp;conflict with any law
statute, rule&nbsp;or regulation to which the Company is subject or any agreement, order, judgment or decree to which the Company is subject.
Other than any federal, state or foreign securities filings which may be required to be made by the Company subsequent to the Closing,
and any registration statement which may be filed pursuant thereto, the Company is not required under federal, state or local law, rule&nbsp;or
regulation to obtain any consent, authorization or order of, or make any filing or registration with, any court or governmental agency
or self-regulatory entity in order for it to perform any of its obligations under this Agreement or issue the Units, the Rights, or the
Ordinary Shares underlying the Units or Rights in accordance with the terms hereof.</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; text-indent: 0.5in"><FONT STYLE="color: #010000">4.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Legends</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; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Legend</U>.
The Company will issue the Units, the Rights, and the Unit Shares, and when issued, the Right Shares, purchased by the Purchaser, in the
name of the Purchaser. The Securities will bear the following Legend and appropriate &ldquo;stop transfer&rdquo; instructions:</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; text-indent: 0.5in">THESE SECURITIES (i)&nbsp;HAVE
NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE &ldquo;SECURITIES ACT&rdquo;), AND THESE SECURITIES
MAY&nbsp;NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT (A)&nbsp;PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT FILED
UNDER THE SECURITIES ACT, (B)&nbsp;TO A NON-U.S. PERSON IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH RULE 903 OR RULE 904 OF REGULATION
S UNDER THE SECURITIES ACT, (C)&nbsp;PURSUANT TO THE RESALE LIMITATIONS SET FORTH IN RULE 905 OF REGULATION S UNDER THE SECURITIES ACT,
(D)&nbsp;PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE) OR (E)&nbsp;PURSUANT
TO ANY OTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT,&nbsp;IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES
LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER JURISDICTION. HEDGING TRANSACTIONS INVOLVING THESE SECURITIES MAY&nbsp;NOT BE CONDUCTED
UNLESS IN COMPLIANCE WITH THE SECURITIES ACT.</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; text-indent: 0.5in">&ldquo;THE SECURITIES REPRESENTED
BY THIS CERTIFICATE ARE SUBJECT TO AN AGREEMENT BETWEEN A SPAC III ACQUISITION CORP. AND A SPAC III (HOLDINGS) CORP.. AND MAY&nbsp;ONLY
BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED DURING THE TERM OF THE LOCKUP PURSUANT TO THE TERMS SET FORTH THEREIN.&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; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Purchaser&rsquo;s
Compliance</U>. Nothing in this Section&nbsp;4 shall affect in any way the Purchaser&rsquo;s obligations and agreements to comply with
all applicable securities laws upon resale of the 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-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">4.3&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Company&rsquo;s
Refusal to Register Transfer of the Securities</U>. The Company shall refuse to register any transfer of the Securities, if such purported
transfer would not be made (i)&nbsp;pursuant to an effective registration statement filed under the Securities Act, or (ii)&nbsp;pursuant
to an available exemption from the registration requirements of the Securities Act.</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; text-indent: 1in"><FONT STYLE="color: #010000">4.4&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Registration
Rights</U>. The Purchaser will be entitled to certain registration rights which will be governed by a registration rights agreement (&ldquo;<B><I>Registration
Rights Agreement</I></B>&rdquo;) to be entered into with the Company on or prior to the closing of the IPO.</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: 4 -->
    <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"></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">5.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Lockup</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; text-align: justify; text-indent: 0.5in">The Purchaser acknowledges
and agrees that the Units, the&nbsp;Rights, the Unit Shares and the Right Shares shall not be transferable, saleable or assignable until
the consummation of an acquisition, share exchange, purchase of all or substantially all of the assets of, or any other similar business
combination with one or more businesses or entities (a &ldquo;<B><I>Business Combination</I></B>&rdquo;), except to permitted transferees
(as defined in the Registration 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; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">6.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Securities
Laws Restrictions</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; text-align: justify; text-indent: 0.5in">The Purchaser agrees not to
sell, transfer, pledge, hypothecate or otherwise dispose of all or any part of the Securities unless, prior thereto (a)&nbsp;a registration
statement on the appropriate form under the Securities Act and applicable state securities laws with respect to the Securities proposed
to be transferred shall then be effective or (b)&nbsp;the Company shall have received an opinion from counsel reasonably satisfactory
to the Company, that such registration is not required because such transaction complies with the Securities Act and the rules&nbsp;promulgated
by the Securities and Exchange Commission thereunder and with all applicable state 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; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">7.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Waiver
of Distributions from Trust Account</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; text-align: justify; text-indent: 0.5in">In connection with the Securities
purchased pursuant to this Agreement, the Purchaser hereby waives any and all right, title, interest or claim of any kind in or to any
distributions from the Trust Account.</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; text-indent: 0.5in"><FONT STYLE="color: #010000">8.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Rescission
Right Waiver and Indemnification</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; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">8.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Rescission
Waiver</U>. The Purchaser understands and acknowledges that an exemption from the registration requirements of the Securities Act requires
there be no general solicitation of purchasers of the Units. In this regard, if the Offering were deemed to be a general solicitation
with respect to the Units, the offer and sale of such Units may not be exempt from registration and, if not, the Purchaser may have a
right to rescind its purchase of the Units. In order to facilitate the completion of the Offering and in order to protect the Company,
its shareholders and the Trust Account from claims that may adversely affect the Company or the interests of its shareholders, the Purchaser
hereby agrees to waive, to the maximum extent permitted by applicable law, any claims, right to sue or rights in law or arbitration, as
the case may be, to seek rescission of its purchase of the Units as a result of the issuance of the Units being deemed to be in violation
of Section&nbsp;5 of the Securities Act. The Purchaser acknowledges and agrees this waiver is being made in order to induce the Company
to sell the Units to the Purchaser. The Purchaser agrees the foregoing waiver of rescission rights shall apply to any and all known or
unknown actions, causes of action, suits, claims or proceedings (collectively,&nbsp;&ldquo;<B><I>Claims</I></B>&rdquo;) and related losses,
costs, penalties, fees, liabilities and damages, whether compensatory, consequential or exemplary, and expenses in connection therewith,
including reasonable attorneys&rsquo; and expert witness fees and disbursements and all other expenses reasonably incurred in investigating,
preparing or defending against any Claims, whether pending or threatened, in connection with any present or future actual or asserted
right to rescind the purchase of the Units hereunder or relating to the purchase of the Units and the transactions contemplated hereby.</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; text-indent: 1in"><FONT STYLE="color: #010000">8.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>No
Recourse Against Trust Account</U>. The Purchaser agrees not to seek recourse against the Trust Account for any reason whatsoever in connection
with its purchase of the Units or any Claim that may arise now or in the future.</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; text-indent: 1in"><FONT STYLE="color: #010000">8.3&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Section&nbsp;8
Waiver</U>. The Purchaser agrees that to the extent any waiver of rights under this Section&nbsp;8 is ineffective as a matter of law,
the Purchaser has offered such waiver for the benefit of the Company as an equitable right that shall survive any statutory disqualification
or bar that applies to a legal right. The Purchaser acknowledges the receipt and sufficiency of consideration received from the Company
hereunder in this regard.</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; text-indent: 0.5in"><FONT STYLE="color: #010000">9.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Terms
of the Unit</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; text-align: justify; text-indent: 0.5in">The Units shall be substantially
identical to the Units offered in the IPO as set forth in the Underwriting Agreement, except the Units: (i)&nbsp;will be subject to the
transfer restrictions described herein, and (ii)&nbsp;are being purchased pursuant to an exemption from the registration requirements
of the Securities Act and will become freely tradable only after certain conditions are met or the resale of the Units is registered under
the Securities Act.</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; text-indent: 0.5in"><FONT STYLE="color: #010000">10.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Governing
Law; Jurisdiction;&nbsp;Waiver of Jury Trial</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; text-align: justify; text-indent: 0.5in">This Agreement shall be governed
by and construed in accordance with the laws of the State of New York for agreements made and to be wholly performed within such territory.
The parties hereto hereby waive any right to a jury trial in connection with any litigation pursuant to this Agreement and the transactions
contemplated hereby.</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: 5 -->
    <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"></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">11.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Assignment;
Entire Agreement; Amendment</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; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">11.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Assignment</U>.
Neither this Agreement nor any rights hereunder may be assigned by any party to any other person other than by the Purchaser, without
the prior consent of the Company, to one or more persons agreeing to be bound by the terms hereof. Upon such assignment by a Purchaser,
the assignee(s)&nbsp;shall become Purchaser hereunder and have the rights and obligations provided for herein to the extent of such assignment.</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; text-indent: 1in"><FONT STYLE="color: #010000">11.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Entire
Agreement.</U>&nbsp;This Agreement sets forth the entire agreement and understanding between the parties as to the subject matter hereof
and supersedes any and all prior discussions, agreements and understandings of any and every nature.</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; text-indent: 1in"><FONT STYLE="color: #010000">11.3&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Amendment</U>.
Except as expressly provided in this Agreement, neither this Agreement nor any term hereof may be amended, waived, discharged or terminated
other than by a written instrument signed by the party against whom enforcement of any such amendment, waiver, discharge or termination
is sought.</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; text-indent: 1in"><FONT STYLE="color: #010000">11.4&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Binding
upon Successors</U>. This Agreement shall be binding upon and inure to the benefit of the parties hereto and to their respective heirs,
legal representatives, successors and permitted assigns.</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; text-indent: 0.5in"><FONT STYLE="color: #010000">12.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Notices;
Indemnity</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; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">12.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Notices</U>.
All notices, requests, consents and other communications hereunder shall be in writing, shall be addressed to the receiving party&rsquo;s
address set forth herein or to such other address as a party may designate by notice hereunder, and shall be either (a)&nbsp;delivered
by hand, (b)&nbsp;sent by overnight courier, or (c)&nbsp;sent by certified mail, return receipt requested, postage prepaid. All notices,
requests, consents and other communications hereunder shall be deemed to have been given either (i)&nbsp;if by hand, at the time of the
delivery thereof to the receiving party at the address of such party set forth above, (ii)&nbsp;if sent by overnight courier, on the next
business day following the day such notice is delivered to the courier service, or (iii)&nbsp;if sent by certified mail, on the fifth
business day following the day such mailing is made.</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; text-indent: 1in"><FONT STYLE="color: #010000">12.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Indemnification</U>.
Except as set forth in Section&nbsp;8, each party shall indemnify the other party against any loss, cost or damages (including reasonable
attorney&rsquo;s fees and expenses) incurred as a result of such party&rsquo;s breach of any representation, warranty, covenant or agreement
set forth in this 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; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: #010000"><I>13.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</I></FONT><I>Counterparts</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; text-align: justify; text-indent: 0.5in">This Agreement may be
executed in one or more counterparts, all of which when taken together shall be considered one and the same agreement and shall
become effective when counterparts have been signed by each party and delivered to the other party, it being understood that both
parties need not sign the same counterpart.&nbsp; In the event that any signature is delivered by facsimile transmission or any
other form of electronic delivery, such signature shall create a valid and binding obligation of the party executing (or on whose
behalf such signature is executed) with the same force and effect as if such signature page&nbsp;were an original thereof.</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; text-indent: 0.5in"><FONT STYLE="color: #010000">14.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Survival;
Severability</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; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">14.1&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Survival</U>.
The representations, warranties, covenants and agreements of the parties hereto shall survive the Closing until one (1)&nbsp;year following
the consummation of 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; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000">14.2&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><U>Severability</U>.
In the event that any provision of this Agreement becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable
or void, this Agreement shall continue in full force and effect without said provision;&nbsp;<U>provided</U>&nbsp;that no such severability
shall be effective if it materially changes the economic benefit of this Agreement to any party.</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; text-indent: 0.5in"><FONT STYLE="color: #010000">15.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Headings</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; text-align: justify; text-indent: 0.5in">The titles and subtitles used
in this Agreement are used for convenience only and are not to be considered in construing or interpreting this 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"></P>

<!-- Field: Page; Sequence: 6 -->
    <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"></P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in"><FONT STYLE="color: #010000">16.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT><I>Construction</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; text-align: justify; text-indent: 0.5in">The parties hereto have participated
jointly in the negotiation and drafting of this Agreement. If an ambiguity or question of intent or interpretation arises, this Agreement
will be construed as if drafted jointly by the parties hereto and no presumption or burden of proof will arise favoring or disfavoring
any party hereto because of the authorship of any provision of this Agreement. The words &ldquo;<I>include</I>,&rdquo; &ldquo;<I>includes</I>,&rdquo;
and &ldquo;<I>including</I>&rdquo; will be deemed to be followed by &ldquo;<I>without limitation</I>.&rdquo; Pronouns in masculine, feminine,
and neuter genders will be construed to include any other gender, and words in the singular form will be construed to include the plural
and vice versa, unless the context otherwise requires. The words &ldquo;<I>this Agreement</I>,&rdquo; &ldquo;<I>herein</I>,&rdquo; &ldquo;<I>hereof</I>,&rdquo;
 &ldquo;<I>hereby</I>,&rdquo; &ldquo;<I>hereunder</I>,&rdquo; and words of similar import refer to this Agreement as a whole and not to
any particular subdivision unless expressly so limited. The parties hereto intend that each representation, warranty, and covenant contained
herein will have independent significance. If any party hereto has breached any representation, warranty, or covenant contained herein
in any respect, the fact that there exists another representation, warranty or covenant relating to the same subject matter (regardless
of the relative levels of specificity) which such party hereto has not breached will not detract from or mitigate the fact that such party
hereto is in breach of the first representation, warranty, or covenant.</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: center">[remainder of page&nbsp;intentionally left blank]</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: 7 -->
    <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"></P></DIV>
    <DIV STYLE="break-before: page; 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">This subscription is accepted by the Company as of the date first written
above.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; text-align: justify">By:</TD>
    <TD STYLE="width: 45%; border-bottom: black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Name:</TD>
    <TD STYLE="text-align: justify">Claudius Tsang</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Title:</TD>
    <TD STYLE="text-align: justify">Chief Executive Officer and Chief Financial Officer</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">Accepted and agreed this</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">[ &#8239;&#8239;&#8239;] day of [ &#8239;&#8239;&#8239;], 2024</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">A SPAC III (HOLDINGS) CORP.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; text-align: justify">By:</TD>
    <TD STYLE="width: 45%; border-bottom: black 1pt solid; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Name:</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Title:</TD>
    <TD STYLE="text-align: justify">Authorized Signatory</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; text-align: center">[Signature Page&nbsp;for Unit Subscription Agreement]</P>

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



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

<!-- Field: Page; Sequence: 8; Options: Last -->
    <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"></P></DIV>
    <!-- Field: /Page -->

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-14
<SEQUENCE>11
<FILENAME>filename11.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="text-align: right; margin: 0"><B>Exhibit 14</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>A SPAC III ACQUISITION CORP.</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; font-size: 10pt; text-align: justify"><B>1.</B></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><B>Introduction</B></TD></TR>
  </TABLE>
<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; text-indent: 0.5in">The Board of Directors (the
 &ldquo;<U>Board</U>&rdquo;) of A SPAC III Acquisition Corp. (the &ldquo;<U>Company</U>&rdquo;) has adopted this code of ethics (this &ldquo;<U>Code</U>&rdquo;),
as amended from time to time by the Board and which is applicable to all of the Company&rsquo;s directors, officers and employees (to
the extent that employees are hired in the future) to:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; font-size: 10pt; text-align: justify">&#9679;</TD>
    <TD STYLE="width: 94%; font-size: 10pt; text-align: justify">promote honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify">&#9679;</TD>
    <TD STYLE="width: 94%; text-align: justify">promote the full, fair, accurate, timely and understandable disclosure in reports and documents that the Company files with, or submits to, the Securities and Exchange Commission (the &ldquo;<U>SEC</U>&rdquo;), as well as in other public communications made by or on behalf of the Company;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">promote compliance with applicable governmental laws, rules&nbsp;and regulations;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">deter wrongdoing; and</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">require prompt internal reporting of breaches of, and accountability for adherence to, this Code.</TD></TR>
  </TABLE>
<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; text-indent: 0.5in">This Code may be amended and
modified by the Board.&nbsp; In this Code, references to the &ldquo;<U>Company</U>&rdquo; mean A SPAC III Acquisition Corp. and, in appropriate
context, the Company&rsquo;s subsidiaries, if any.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify"><B>2.</B></TD>
    <TD STYLE="text-align: justify"><B>Honest, Ethical and Fair Conduct</B></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each person owes a duty to
the Company to act with integrity. Integrity requires, among other things, being honest, fair and candid. Deceit, dishonesty and subordination
of principle are inconsistent with integrity. Service to the Company should never be subordinated to personal gain and advantage.</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; text-indent: 0.5in">Each person must:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify">&#9679;</TD>
    <TD STYLE="width: 94%; text-align: justify">act with integrity, including being honest and candid while still maintaining the confidentiality of the Company&rsquo;s information where required or when in the Company&rsquo;s interests;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">observe all applicable governmental laws, rules&nbsp;and regulations;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify">&#9679;</TD>
    <TD STYLE="width: 94%; text-align: justify">comply with the requirements of applicable accounting and auditing standards, as well as Company policies, in order to maintain a high standard of accuracy and completeness in the Company&rsquo;s financial records and other business-related information and data;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify">&#9679;</TD>
    <TD STYLE="width: 94%; text-align: justify">adhere to a high standard of business ethics and not seek competitive advantage through unlawful or unethical business practices;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">deal fairly with the Company&rsquo;s customers, suppliers, competitors and employees;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify">&#9679;</TD>
    <TD STYLE="width: 94%; text-align: justify">refrain from taking advantage of anyone through manipulation, concealment, abuse of privileged information, misrepresentation of material facts or any other unfair-dealing practice;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">protect the assets of the Company and ensure their proper use;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify">&#9679;</TD>
    <TD STYLE="width: 94%; text-align: justify">Until the earliest of (i)&nbsp;execution of a definitive merger agreement in connection with the Company&rsquo;s initial business combination (as such is defined in the Company&rsquo;s initial registration statement filed with the SEC), (ii)&nbsp;liquidation, or (iii)&nbsp;such time as such person ceases to be an officer or director of the Company, to first present to the Company for its consideration, prior to presentation to any other entity, any business opportunity suitable for the Company and presented to such person solely in his or her capacity as an officer or director of the Company, subject to any other fiduciary or contractual obligations such officer may have; and</TD></TR>
</TABLE>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 3%">&#9679;</TD>
    <TD STYLE="text-align: justify; width: 94%">Avoid conflicts of interest, wherever possible, except as may be allowed under guidelines or resolutions approved by the Board (or the appropriate committee of the Board) or as disclosed in the Company&rsquo;s public filings with the SEC. Anything that would be a conflict for a person subject to this Code also will be a conflict for a member of his or her immediate family or any other close relative.&#8239;&#8239;Examples of conflict of interest situations include, but are not limited to, the following:</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">any significant ownership interest in any supplier or customer;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 24px; text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">any consulting or employment relationship with any supplier or customer;</TD></TR>
  </TABLE>
<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; text-indent: 0.5in">&#9679;&#9;&#8239;&#8239;&#8239;&#8239;&nbsp;the
receipt of any money, non-nominal gifts or excessive entertainment from any entity with which the Company has current or prospective business
dealings;</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; text-indent: 0.5in">&#9679;&#9;&#8239;&#8239;&#8239;&#8239;&nbsp;selling
anything to the Company or buying anything from the Company, except on the same terms and conditions as comparable officers or directors
are permitted to so purchase or sell;</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; text-indent: 0.5in">&#9679;&#9;&#8239;&#8239;&#8239;&#8239;&nbsp;any
other financial transaction, arrangement or relationship (including any indebtedness or guarantee of indebtedness) involving the Company;
and</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; text-indent: 0.5in">&#9679;&#9;&#8239;&#8239;&#8239;&#8239;&nbsp;any
other circumstance, event, relationship or situation in which the personal interest of a person subject to this Code interferes &mdash;
or even appears to interfere &mdash; with the interests of the Company as a whole.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify"><B>3.</B></TD>
    <TD STYLE="text-align: justify"><B>Disclosure</B></TD></TR>
  </TABLE>
<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; text-indent: 0.5in">The Company strives to ensure
that the contents of and the disclosures in the reports and documents that the Company files with the SEC and other public communications
shall be full, fair, accurate, timely and understandable in accordance with applicable disclosure standards, including standards of materiality,
where appropriate.&nbsp; Each person must:</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; text-indent: 0.5in">&#9679;&#9;&#8239;&#8239;&#8239;&#8239;&nbsp;not
knowingly misrepresent, or cause others to misrepresent, facts about the Company to others, whether within or outside the Company, including
to the Company&rsquo;s independent registered public accountants, governmental regulators, self-regulating organizations and other governmental
officials, as appropriate; and</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; text-indent: 0.5in">&#9679;&#9;&#8239;&#8239;&#8239;&#8239;&nbsp;in
relation to his or her area of responsibility, properly review and critically analyze proposed disclosure for accuracy and completeness.</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; text-indent: 0.5in">In addition to the foregoing,
the Chief Executive Officer (&ldquo;<U>CEO</U>&rdquo;) and Chief Financial Officer (&ldquo;<U>CFO</U>&rdquo;) of the Company and each
subsidiary of the Company (or persons performing similar functions), and each other person that typically is involved in the financial
reporting of the Company must familiarize himself or herself with the disclosure requirements applicable to the Company as well as the
business and financial operations of the Company.</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; text-indent: 0.5in">Each person must promptly
bring to the attention of the Chairman of the Board any information he or she may have concerning (a)&nbsp;significant deficiencies in
the design or operation of internal and/or disclosure controls that could adversely affect the Company&rsquo;s ability to record, process,
summarize and report financial data or (b)&nbsp;any fraud that involves management or other employees who have a significant role in the
Company&rsquo;s financial reporting, disclosures or internal controls.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify"><B>4.</B></TD>
    <TD STYLE="text-align: justify"><B>Compliance</B></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">It is the Company&rsquo;s
obligation and policy to comply with all applicable governmental laws, rules&nbsp;and regulations.&nbsp; All directors, officers and employees
of the Company are expected to understand, respect and comply with all of the laws, regulations, policies and procedures that apply to
them in their positions with the Company.&nbsp; Employees are responsible for talking to their supervisors to determine which laws, regulations
and Company policies apply to their position and what training is necessary to understand and comply with them.</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; text-indent: 0.5in">Directors, officers and employees
are directed to specific policies and procedures available to persons they supervise.</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: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify"><B>5.</B></TD>
    <TD STYLE="text-align: justify"><B>Reporting and Accountability</B></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Board is responsible for
applying this Code to specific situations in which questions are presented to it and has the authority to interpret this Code in any particular
situation.&nbsp; Any person who becomes aware of any existing or potential breach of this Code is required to notify the Chairman of the
Board promptly.&nbsp; Failure to do so is, in and of itself, a breach of this Code.</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; text-indent: 0.5in">Specifically, each person
must:</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; text-indent: 0.25in">&#9679;&#9;&#8239;&#8239;&#8239;&#8239;&nbsp;Notify
the Chairman of the Board promptly of any existing or potential violation of this Code.</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; text-indent: 0.25in">&#9679;&#9;&#8239;&#8239;&#8239;&#8239;&nbsp;Not
retaliate against any other person for reports of potential violations that are made in good faith.</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; text-indent: 0.5in">The Company will follow the
following procedures in investigating and enforcing this Code and in reporting on the Code:</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; text-indent: 0.25in">&#9679;&#9;&#8239;&#8239;&#8239;&#8239;&nbsp;The
Board will take all appropriate action to investigate any breaches reported to it.</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; text-indent: 0.25in">&#9679;&#9;&#8239;&#8239;&#8239;&#8239;&nbsp;Upon
determination by the Board that a breach has occurred, the Board (by majority decision) will take or authorize such disciplinary or preventive
action as it deems appropriate, after consultation with the Company&rsquo;s internal or external legal counsel, up to and including dismissal
or, in the event of criminal or other serious violations of law, notification of the SEC or other appropriate law enforcement authorities.</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; text-indent: 0.5in">No person following the above
procedure shall, as a result of following such procedure, be subject by the Company or any officer or employee thereof to discharge, demotion
suspension, threat, harassment or, in any manner, discrimination against such person in terms and conditions of employment.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify"><B>6.</B></TD>
    <TD STYLE="text-align: justify"><B>Waivers and Amendments</B></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any waiver (defined below)
or an implicit waiver (defined below) from a provision of this Code for the principal executive officer, principal financial officer,
principal accounting officer or controller, and persons performing similar functions or any amendment (as defined below) to this Code
is required to be disclosed in a Current Report on Form&nbsp;8- K filed with the SEC.&nbsp; In lieu of filing a Current Report on Form&nbsp;8-K
to report any such waivers or amendments, the Company may provide such information on a website, in the event that it establishes one
in the future, and if it keeps such information on the website for at least 12 months and discloses the website address as well as any
intention to provide such disclosures in this manner in its most recently filed Annual Report on Form&nbsp;10-K.</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; text-indent: 0.5in">A &ldquo;<U>waiver</U>&rdquo;
means the approval by the Board of a material departure from a provision of the Code.&nbsp; An &ldquo;<U>implicit waiver</U>&rdquo; means
the Company&rsquo;s failure to take action within a reasonable period of time regarding a material departure from a provision of the
Code that has been made known to an executive officer of the Company.&nbsp; An &ldquo;<U>amendment</U>&rdquo; means any amendment to
this Code other than minor technical, administrative or other non-substantive amendments hereto.</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; text-indent: 0.5in">All persons should note that
it is not the Company&rsquo;s intention to grant or to permit waivers from the requirements of this Code.&nbsp; The Company expects full
compliance with this Code.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify"><B>7.</B></TD>
    <TD STYLE="text-align: justify"><B>Insider Information and Securities Trading</B></TD></TR>
  </TABLE>
<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; text-indent: 0.5in">The Company&rsquo;s directors,
officers or employees who have access to material, non-public information are not permitted to use that information for securities trading
purposes or for any purpose unrelated to the Company&rsquo;s business. It is also against the law to trade or to &ldquo;<U>tip</U>&rdquo;
others who might make an investment decision based on inside company information. For example, using non-public information to buy or
sell the Company securities, options in the Company shares or the shares of any Company supplier, customer or competitor is prohibited.
The consequences of insider trading violations can be severe. These rules&nbsp;also apply to the use of material, nonpublic information
about other companies (including, for example, the Company&rsquo;s customers, competitors and potential business partners). In addition
to directors, officers or employees, these rules&nbsp;apply to such person&rsquo;s spouse, children, parents and siblings, as well as
any other family members living in such person&rsquo;s home.</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: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify"><B>8.</B></TD>
    <TD STYLE="text-align: justify"><B>Financial Statements and Other Records</B></TD></TR>
  </TABLE>
<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; text-indent: 0.5in">All of the Company&rsquo;s
books, records, accounts and financial statements must be maintained in reasonable detail, must appropriately reflect the Company&rsquo;s
transactions and must both conform to applicable legal requirements and to the Company&rsquo;s system of internal controls.&nbsp; Unrecorded
or &ldquo;off the books&rdquo; funds or assets should not be maintained unless permitted by applicable law or regulation.</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; text-indent: 0.5in">Records should always be retained
or destroyed according to the Company&rsquo;s record retention policies. In accordance with those policies, in the event of litigation
or governmental investigation, please consult the Board or the Company&rsquo;s internal or external legal counsel.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify"><B>9.</B></TD>
    <TD STYLE="text-align: justify"><B>Improper Influence on Conduct of Audits</B></TD></TR>
  </TABLE>
<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; text-indent: 0.5in">No director or officer, or
any other person acting under the direction thereof, shall directly or indirectly take any action to coerce, manipulate, mislead or fraudulently
influence any public or certified public accountant engaged in the performance of an audit or review of the financial statements of the
Company or take any action that such person knows or should know that if successful could result in rendering the Company&rsquo;s financial
statements materially misleading. Any person who believes such improper influence is being exerted should report such action to such person&rsquo;s
supervisor, or if that is impractical under the circumstances, to any of the Company&rsquo;s directors.</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; text-indent: 0.5in">Types of conduct that could
constitute improper influence include, but are not limited to, directly or indirectly:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify">&#9679;</TD>
    <TD STYLE="width: 94%; text-align: justify">Offering or paying bribes or other financial incentives, including future employment or contracts for non-audit services;</TD>
    </TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify">&#9679;</TD>
    <TD STYLE="width: 94%">Providing an auditor with an inaccurate or misleading legal analysis; &nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&#9679;</TD>
    <TD>Threatening to cancel or canceling existing non-audit or audit engagements if the auditor objects to the Company&rsquo;s accounting; &nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&#9679;</TD>
    <TD>Seeking to have a partner removed from the audit engagement because the partner objects to the Company&rsquo;s accounting; &nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&#9679;</TD>
    <TD>Blackmailing; and &nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">Making physical threats.</TD>
    </TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify"><B>10.</B></TD>
    <TD STYLE="text-align: justify"><B>Anti-Corruption Laws</B></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company complies with
the anti-corruption laws of the countries in which it does business, including the U.S. Foreign Corrupt Practices Act (&ldquo;<U>FCPA</U>&rdquo;).
Directors, officers and employees will not directly or indirectly give anything of value to government officials, including employees
of state-owned enterprises or foreign political candidates. These requirements apply both to Company employees and agents, such as third
party sales representatives, no matter where they are doing business. If you are authorized to engage agents, you are responsible for
ensuring they are reputable and for obtaining a written agreement to uphold the Company&rsquo;s standards in this area.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify"><B>11.</B></TD>
    <TD STYLE="text-align: justify"><B>Violations</B></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Violation of this Code is
grounds for disciplinary action up to and including termination of employment. Such action is in addition to any civil or criminal liability
which might be imposed by any court or regulatory agency.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify"><B>12.</B></TD>
    <TD STYLE="text-align: justify"><B>Other Policies and Procedures</B></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any other policy or procedure
set out by the Company in writing or made generally known to employees, officers or directors of the Company prior to the date hereof
or hereafter are separate requirements and remain in full force and effect.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px; text-align: justify"><B>13.</B></TD>
    <TD STYLE="text-align: justify"><B>Inquiries</B></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All inquiries and questions
in relation to this Code or its applicability to particular people or situations should be addressed to the Company&rsquo;s Secretary,
or such other compliance officer as shall be designated from time to time by the Company.</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: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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>PROVISIONS FOR<BR>
CHIEF EXECUTIVE OFFICER AND SENIOR FINANCIAL OFFICERS</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-align: justify; text-indent: 0.5in">The CEO and all senior financial
officers, including the CFO and principal accounting officer, are bound by the provisions set forth therein relating to ethical conduct,
conflicts of interest, and compliance with law. In addition to the Code, the CEO and senior financial officers are subject to the following
additional specific policies:</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; text-indent: 0.5in">1.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Act
with honesty and integrity, avoiding actual or apparent conflicts between personal, private interests and the interests of the Company,
including receiving improper personal benefits as a result of his or her position.</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; text-indent: 0.5in">2.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Disclose
to the CEO and the Board any material transaction or relationship that reasonably could be expected to give rise to a conflict 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; text-align: justify; text-indent: 0.5in">3.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Perform
responsibilities with a view to causing periodic reports and documents filed with or submitted to the SEC and all other public communications
made by the Company to contain information that is accurate, complete, fair, objective, relevant, timely and understandable, including
full review of all annual and quarterly reports.</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; text-indent: 0.5in">4.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Comply
with laws, rules&nbsp;and regulations of U.S. federal, state and other local governments applicable to the Company and with the rules&nbsp;and
regulations of private and public regulatory agencies having jurisdiction over the Company.</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; text-indent: 0.5in">5.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Act
in good faith, responsibly, with due care, competence and diligence, without misrepresenting or omitting material facts or allowing independent
judgment to be compromised or subordinated.</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; text-indent: 0.5in">6.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Respect
the confidentiality of information acquired in the course of performance of his or her responsibilities except when authorized or otherwise
legally obligated to disclose any such information; not use confidential information acquired in the course of performing his or her responsibilities
for personal advantage.</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; text-indent: 0.5in">7.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Share
knowledge and maintain skills important and relevant to the needs of the Company, its shareholders and other constituencies and the general
public.</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; text-indent: 0.5in">8.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Proactively
promote ethical behavior among subordinates and peers in his or her work environment and community.</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; text-indent: 0.5in">9.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Use
and control all corporate assets and resources employed by or entrusted to him or her in a responsible manner.</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; text-indent: 0.5in">10.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Not
use corporate information, corporate assets, corporate opportunities or his or her position with the Company for personal gain; not compete
directly or indirectly with the Company.</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; text-indent: 0.5in">11.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Comply
in all respects with this Code.</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; text-indent: 0.5in">12.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;Advance
the Company&rsquo;s legitimate interests when the opportunity arises.</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; text-indent: 0.5in">The Board will investigate
any reported violations and will oversee an appropriate response, including corrective action and preventative measures.&nbsp; Any officer
who violates this Code will face appropriate, case specific disciplinary action, which may include demotion or discharge.</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; text-indent: 0.5in">Any request for a waiver of
any provision of this Code must be in writing and addressed to the Chairman of the Board. Any waiver of this Code will be disclosed as
provided in Section&nbsp;6 of this Code.</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; text-indent: 0.5in">It is the policy of the Company
that each officer covered by this Code shall acknowledge and certify to the foregoing annually and file a copy of such certification with
the Chairman of the Board.</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: 5 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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>OFFICER&rsquo;S CERTIFICATION</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-align: justify; text-indent: 0.5in">I have read and understand
the foregoing Code. I hereby certify that I am in compliance with the foregoing Code and I will comply with the Code in the future. This
Code may be amended and modified</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; text-align: justify">Dated:</TD>
    <TD STYLE="width: 88%; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Name:</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Title:</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 12%">Signed:</TD>
    <TD STYLE="width: 88%">&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: 6; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>12
<FILENAME>filename12.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></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: right"><B>Exhibit 99.1</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-align: center"><B>CHARTER OF THE AUDIT COMMITTEE</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>A SPAC III ACQUISITION CORP.</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>I.</B></FONT></TD>
    <TD STYLE="width: 97%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>PURPOSE OF THE COMMITTEE</B></FONT></TD></TR>
  </TABLE>
<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; text-indent: 0.5in">The purpose of the Audit Committee
(the &#8220;<U>Committee</U>&#8221;) of the Board of Directors (the &#8220;<U>Board</U>&#8221;) of A SPAC III Acquisition Corp. (the &#8220;<U>Company</U>&#8221;)
is to oversee the accounting and financial reporting processes of the Company and its subsidiaries and the audits of the financial statements
of the Company.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>II.</B></FONT></TD>
    <TD STYLE="width: 97%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>COMPOSITION OF THE COMMITTEE</B></FONT></TD></TR>
  </TABLE>
<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; text-indent: 0.5in">The Committee shall consist
of three or more independent directors, as determined from time to time by the Board.&nbsp; Each member of the Committee shall be qualified
to serve on the Committee pursuant to the requirements of The Nasdaq Stock Market LLC (&#8220;<U>NASDAQ</U>&#8221;), and any additional
requirements that the Board deems appropriate.</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; text-indent: 0.5in">The chairperson of the Committee
shall be designated by the Board,&nbsp;<I>provided</I>&nbsp;that if the Board does not so designate a chairperson, the members of the
Committee, by a majority vote, may designate a chairperson.</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; text-indent: 0.5in">Any vacancy on the Committee
shall be filled by majority vote of the Board.&nbsp; No member of the Committee shall be removed except by majority vote of the Board.</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; text-indent: 0.5in">Each member of the Committee
must be able to read and understand fundamental financial statements, including the Company&#8217;s balance sheet, income statement and
cash flow statement.&nbsp; In addition, at least one member of the Committee must be designated by the Board to be the &#8220;audit committee
financial expert,&#8221; as defined by the Securities and Exchange Commission (&#8220;<U>SEC</U>&#8221;) pursuant to the Sarbanes-Oxley
Act of 2002 (the &#8220;<U>Act</U>&#8221;).</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>III.</B></FONT></TD>
    <TD STYLE="width: 97%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>MEETINGS OF THE COMMITTEE</B></FONT></TD></TR>
  </TABLE>
<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; text-indent: 0.5in">The Committee shall meet as
often as it determines necessary to carry out its duties and responsibilities, but no less frequently than once every fiscal quarter.&nbsp;
The Committee, in its discretion, may ask members of management or others to attend its meetings (or portions thereof) and to provide
pertinent information as necessary.&nbsp; A majority of the members of the Committee present in person or by means of a conference telephone
or other communications equipment by means of which all persons participating in the meeting can hear each other shall constitute a quorum.</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; text-indent: 0.5in">The Committee shall maintain
minutes of its meetings and records relating to those meetings.&nbsp; The provisions of the Articles of Association of the Company (as
amended from time to time) relating to meetings of the board of directors of the Company shall apply equally to meetings of the committee
unless otherwise stated herein.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>IV.</B></FONT></TD>
    <TD STYLE="width: 97%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>DUTIES AND RESPONSIBILITIES OF THE COMMITTEE</B></FONT></TD></TR>
  </TABLE>
<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; text-indent: 0.5in">In carrying out its duties
and responsibilities, the Committee&#8217;s policies and procedures should remain flexible, so that it may be in a position to best address,
react or respond to changing circumstances or conditions.&nbsp; The following duties and responsibilities are within the authority of
the Committee and the Committee shall, consistent with and subject to applicable law and rules&nbsp;and regulations promulgated by the
SEC, NASDAQ, or any other applicable regulatory authority:</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"><B><I>Selection, Evaluation, and Oversight of
the Auditors</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-align: justify; text-indent: 0.5in">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
Be directly responsible for the appointment, compensation, retention and oversight of the work of any registered public accounting firm
engaged for the purpose of preparing or issuing an audit report or performing other audit, review or attest services for the Company,
and each such registered public accounting firm must report directly to the Committee (the registered public accounting firm engaged for
the purpose of preparing or issuing an audit report for inclusion in the Company&#8217;s Annual Report on Form&nbsp;10-K is referred to
herein as the &#8220;<U>independent auditors</U>&#8221;);</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: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
Review and, in its sole discretion, approve in advance the Company&#8217;s independent auditors&#8217; annual engagement letter, including
the proposed fees contained therein, as well as all audit and, as provided in the Act and the SEC rules&nbsp;and regulations promulgated
thereunder, all permitted non-audit engagements and relationships between the Company and such independent auditors (which approval should
be made after receiving input from the Company&#8217;s management, if desired).&nbsp; Approval of audit and permitted non-audit services
will be made by the Committee or by one or more members of the Committee as shall be designated by the Committee/the chairperson of the
Committee and the persons granting such approval shall report such approval to the Committee at the next scheduled meeting;</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; text-indent: 0.5in">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
Review the performance of the Company&#8217;s independent auditors, including the lead partner of the independent auditors, and, in its
sole discretion (subject, if applicable, to shareholder ratification), make decisions regarding the replacement or termination of the
independent auditors when circumstances warrant;</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; text-indent: 0.5in">(d)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
Evaluate the independence of the Company&#8217;s independent auditors by, among other things:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</FONT></TD>
    <TD STYLE="width: 91%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">obtaining and reviewing from the Company&#8217;s
independent auditors a formal written statement delineating all relationships between the independent auditors and the Company, consistent
with Independence Standards Board Standard 1;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</FONT></TD>
    <TD STYLE="text-align: justify; width: 91%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">actively engaging in a dialogue with the
Company&#8217;s independent auditors with respect to any disclosed relationships or services that may impact the objectivity and independence
of the auditors;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</FONT></TD>
    <TD STYLE="width: 91%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">setting clear hiring policies for employees or former employees of the Company&#8217;s independent auditors;</FONT></TD></TR>
  </TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)</FONT></TD>
    <TD STYLE="text-align: justify; width: 91%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">taking, or recommending that the Board take,
appropriate action to oversee the independence of the Company&#8217;s independent auditors;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(v)</FONT></TD>
    <TD STYLE="text-align: justify; width: 91%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">monitoring compliance by the Company&#8217;s
independent auditors with the audit partner rotation requirements contained in the Act and the rules&nbsp;and regulations promulgated
by the SEC thereunder;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(vi)</FONT></TD>
    <TD STYLE="text-align: justify; width: 91%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">monitoring compliance by the Company of the
employee conflict of interest requirements contained in the Act and the rules&nbsp;and regulations promulgated by the SEC thereunder;
and</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(vii)</FONT></TD>
    <TD STYLE="text-align: justify; width: 91%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">engaging in a dialogue with the independent
auditors to confirm that audit partner compensation is consistent with applicable SEC rules;</P></TD></TR>
  </TABLE>
<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><I>Oversight of Annual Audit and Quarterly
Reviews</I></B></P>

<P STYLE="text-align: justify; 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; text-indent: 0.5in">(e)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
Review and discuss with the independent auditors their annual audit plan, including the timing and scope of audit activities, and monitor
such plan&#8217;s progress and results during the year;</P>

<P STYLE="text-align: justify; 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; text-indent: 0.5in">(f)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
Review with management and the Company&#8217;s independent auditors the following information which is required to be reported by the
independent auditor:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</FONT></TD>
    <TD STYLE="width: 91%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">all critical accounting policies and practices to be used;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</FONT></TD>
    <TD STYLE="text-align: justify; width: 91%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">all alternative treatments of financial information
that have been discussed by the independent auditors and management, ramifications of the use of such alternative disclosures and treatments,
and the treatment preferred by the independent auditors;</P></TD></TR>
  </TABLE>
<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: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)</FONT></TD>
    <TD STYLE="width: 91%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">all other material written communications
between the independent auditors and management, such as any management letter and any schedule of unadjusted differences; and</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)</FONT></TD>
    <TD STYLE="width: 91%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">any material financial arrangements of the
Company which do not appear on the financial statements of the Company;</P></TD></TR>
  </TABLE>
<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; text-indent: 0.5in">(g)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
Resolve all disagreements between the Company&#8217;s independent auditors and management regarding financial reporting;</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"><B><I>Oversight of Financial Reporting Process
and Internal Controls</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-align: justify; text-indent: 0.5in">(h)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
Review:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</FONT></TD>
    <TD STYLE="width: 91%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">the adequacy and effectiveness of the
    Company&#8217;s accounting and internal control policies and procedures on a regular basis, including the responsibilities, budget,
    compensation and staffing of the Company&#8217;s internal audit function, through inquiry and discussions with the Company&#8217;s
    independent auditors and management; and</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</FONT></TD>
    <TD STYLE="width: 91%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">the Committee&#8217;s level of involvement
and interaction with the Company&#8217;s internal audit function, including the Committee&#8217;s line of authority and role in appointing
and compensating employees in the internal audit function;</P></TD></TR>
  </TABLE>
<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; text-indent: 0.5in">(i)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;
Review with the chief executive officer, chief financial officer and independent auditors, periodically, the following:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</FONT></TD>
    <TD STYLE="width: 91%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">all significant deficiencies and material
weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the
Company&#8217;s ability to record, process, summarize and report financial information; and</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)</FONT></TD>
    <TD STYLE="width: 91%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">any fraud, whether or not material, that
    involves management or other employees who have a significant role in the Company&#8217;s internal control over financial
    reporting;</P></TD></TR>
  </TABLE>
<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; text-indent: 0.5in">(j)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
Discuss guidelines and policies governing the process by which senior management of the Company assess and manage the Company&#8217;s
exposure to risk, as well as the Company&#8217;s major financial risk exposures and the steps management has taken to monitor and control
such exposures;</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; text-indent: 0.5in">(k)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
Review with management the progress and results of all internal audit projects, and, when deemed necessary or appropriate by the Committee,
assign additional internal audit projects to appropriate personnel;</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; text-indent: 0.5in">(l)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
Receive periodic reports from the Company&#8217;s independent auditors, management and directors of the Company&#8217;s internal auditing
department to assess the impact on the Company of significant accounting or financial reporting developments that may have a bearing on
the Company;</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; text-indent: 0.5in">(m)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
Review and discuss with the independent auditors the results of the year-end audit of the Company, including any comments or recommendations
of the Company&#8217;s independent auditors and, based on such review and discussions and on such other considerations as it determines
appropriate, recommend to the Board whether the Company&#8217;s financial statements should be included in the Annual Report on Form&nbsp;10-K;</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: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in">(n)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
Establish and maintain free and open means of communication between and among the Committee, the Company&#8217;s independent auditors
and management, including providing such parties with appropriate opportunities to meet separately and privately with the Committee on
a periodic 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; text-align: justify; text-indent: 0.5in">(o)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
Review the type and presentation of information to be included in the Company&#8217;s earnings press releases (especially the use of &#8220;pro
forma&#8221; or &#8220;adjusted&#8221; information not prepared in compliance with generally accepted accounting principles), as well
as financial information and earnings guidance provided by the Company to analysts and rating agencies (which review may be done generally
(i.e., discussion of the types of information to be disclosed and type of presentations to be made), and the Committee need not discuss
in advance each earnings release or each instance in which the Company may provide earnings guidance);</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"><B><I>Miscellaneous</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-align: justify; text-indent: 0.5in">(p)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
Establish and implement policies and procedures for the Committee&#8217;s review and approval or disapproval of proposed transactions
or courses of dealings with respect to which executive officers or directors or members of their immediate families have an interest (including
all transactions required to be disclosed by Item 404(a)&nbsp;of Regulation S-K);</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; text-indent: 0.5in">(q)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
Meet periodically with outside counsel when appropriate, to review legal and regulatory matters, including (i)&nbsp;any matters that may
have a material impact on the financial statements of the Company and (ii)&nbsp;any matters involving potential or ongoing material violations
of law or breaches of fiduciary duty by the Company or any of its directors, officers, employees, or agents or breaches of fiduciary duty
to the Company;</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; text-indent: 0.5in">(r)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;
Prepare the report required by the rules&nbsp;of the SEC to be included in the Company&#8217;s annual proxy statement;</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; text-indent: 0.5in">(s)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;
Review the Company&#8217;s policies relating to the ethical handling of conflicts of interest and review past or proposed transactions
between the Company and members of management as well as policies and procedures with respect to officers&#8217; expense accounts and
perquisites, including the use of corporate assets. The Committee shall consider the results of any review of these policies and
procedures by the Company&#8217;s independent auditors;</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; text-indent: 0.5in">(t)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;
Review and approve in advance any services provided by the Company&#8217;s independent auditors to the Company&#8217;s executive officers
or members of their immediate family;</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; text-indent: 0.5in">(u)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
Review the Company&#8217;s program to monitor compliance with the Company&#8217;s Code of Ethics, and meet periodically with the Company&#8217;s
Compliance Committee to discuss compliance with the Code of Ethics;</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; text-indent: 0.5in">(v)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
Establish procedures for (i)&nbsp;the receipt, retention and treatment of complaints received by the Company regarding accounting, internal
accounting controls or auditing matters, and (ii)&nbsp;the confidential, anonymous submission by employees of the Company of concerns
regarding questionable accounting or auditing matters;</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; text-indent: 0.5in">(w)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;
Establish procedures for the receipt, retention and treatment of reports of evidence of a material violation made by attorneys appearing
and practicing before the SEC in the representation of the Company or any of its subsidiaries, or reports made by the Company&#8217;s
chief executive officer in relation thereto;</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; text-indent: 0.5in">(x)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
Approve reimbursement of expenses incurred by management in connection with certain activities conducted on the Company&#8217;s behalf,
such as identifying potential 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; text-align: justify; text-indent: 0.5in">(y)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
Secure independent expert advice to the extent the Committee determines it to be appropriate, including retaining, with or without Board
approval, independent counsel, accountants, consultants or others, to assist the Committee in fulfilling its duties and responsibilities,
the cost of such independent expert advisors to be borne by the Company;</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; text-indent: 0.5in">(z)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
Review and assess the adequacy of this Charter on an annual basis; and</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: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in">(aa)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
Perform such additional activities, and consider such other matters, within the scope of its responsibilities, as the Committee or the
Board deems necessary or appropriate.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>V.</B></FONT></TD>
    <TD STYLE="width: 97%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>INVESTIGATIONS AND STUDIES; OUTSIDE ADVISERS</B></FONT></TD></TR>
  </TABLE>
<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; text-indent: 0.5in">The Committee may conduct
or authorize investigations into or studies of matters within the Committee&#8217;s scope of responsibilities, and may retain, at the
Company&#8217;s expense, such independent counsel or other consultants or advisers as it deems necessary.</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: center">* * *</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; text-indent: 0.5in">While the Committee has the
duties and responsibilities set forth in this Charter, the Committee is not responsible for preparing or certifying the financial statements,
for planning or conducting the audit, or for determining whether the Company&#8217;s financial statements are complete and accurate and
are in accordance with generally accepted accounting principles.</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; text-indent: 0.5in">In fulfilling their responsibilities
hereunder, it is recognized that members of the Committee are not full-time employees of the Company, it is not the duty or responsibility
of the Committee or its members to conduct &#8220;field work&#8221; or other types of auditing or accounting reviews or procedures or
to set auditor independence standards, and each member of the Committee shall be entitled to rely on (i)&nbsp;the integrity of those persons
and organizations within and outside the Company from which it receives information and (ii)&nbsp;the accuracy of the financial and other
information provided to the Committee absent actual knowledge to the contrary.</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; text-indent: 0.5in">Nothing contained in this
Charter is intended to create, or should be construed as creating, any responsibility or liability of the members of the Committee, except
to the extent otherwise provided under applicable U.S. federal or state law.</P>

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



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

<!-- Field: Page; Sequence: 5; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>13
<FILENAME>filename13.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.2</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>A SPAC III ACQUISITION CORP.</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-align: justify"><B>I.</B>&nbsp;&nbsp;<B>PURPOSE OF THE COMMITTEE</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-align: justify; text-indent: 0.5in">The purposes of the Compensation
Committee (the &ldquo;<U>Committee</U>&rdquo;) of the Board of Directors (the &ldquo;<U>Board</U>&rdquo;) of A SPAC III Acquisition Corp.
(the &ldquo;<U>Company</U>&rdquo;) shall be to oversee the Company&rsquo;s compensation and employee benefit plans and practices, including
its executive compensation plans, and its incentive-compensation and equity-based plans; to review and discuss with management the Company&rsquo;s
compensation discussion and analysis (&ldquo;<U>CD&amp;A</U>&rdquo;) to be included in the Company&rsquo;s annual proxy statement or annual
report on Form&nbsp;10-K filed with the Securities and Exchange Commission (&ldquo;<U>SEC</U>&rdquo;); to prepare the Compensation Committee
Report as required by the rules&nbsp;of the SEC; and to perform such further functions as may be consistent with this Charter or assigned
by applicable law, the Company&rsquo;s memorandum and articles of association (as amended from time to time, the &ldquo;<U>M&amp;AA</U>&rdquo;)
or the Board.</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"><B>II.</B>&nbsp;<B>COMPOSITION OF THE COMMITTEE</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-align: justify; text-indent: 0.5in">The Committee shall consist
of two or more directors as determined from time to time by the Board.&nbsp; Each member of the Committee shall be qualified to serve
on the Committee pursuant to the requirements of The Nasdaq Stock Market LLC (the &ldquo;<U>NASDAQ</U>&rdquo;), and any additional requirements
that the Board deems appropriate.&nbsp; Members of the Committee shall also qualify as &ldquo;non-employee directors&rdquo; within the
meaning of Rule&nbsp;16b-3 promulgated under the Securities Exchange Act of 1934, as amended (the &ldquo;<U>Exchange Act</U>&rdquo;),
and &ldquo;outside directors&rdquo; within the meaning of Section&nbsp;162(m)&nbsp;of the Internal Revenue Code of 1986, as amended.</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; text-indent: 0.5in">The chairperson of the Committee
shall be designated by the Board,&nbsp;<I>provided</I>&nbsp;that if the Board does not so designate a chairperson, the members of the
Committee, by a majority vote, may designate a chairperson.</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; text-indent: 0.5in">Any vacancy on the Committee
shall be filled by majority vote of the Board.&nbsp; No member of the Committee shall be removed except by majority vote of the Board.</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"><B>III.</B>&nbsp;&nbsp;<B>MEETINGS AND PROCEDURES
OF THE COMMITTEE</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-align: justify; text-indent: 0.5in">The Committee shall meet as
often as it determines necessary to carry out its duties and responsibilities.&nbsp; The Committee, in its discretion, may ask members
of management or others to attend its meetings (or portions thereof) and to provide pertinent information as necessary, provided, that
the Chief Executive Officer of the Company may not be present during any portion of a Committee meeting in which deliberation or any vote
regarding his or her compensation occurs.</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; text-indent: 0.5in">A majority of the members
of the Committee present in person or by means of a conference telephone or other communications equipment by means of which all persons
participating in the meeting can hear each other shall constitute a quorum</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; text-indent: 0.5in">The Committee shall maintain
minutes of its meetings and records relating to those meetings and shall report regularly to the Board on its activities, as appropriate.&nbsp;
The provisions of the Articles of Association of the Company (as amended from time to time) relating to meetings of the board of directors
of the Company shall apply equally to meetings of the committee unless otherwise stated 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; text-align: justify"><B>IV.</B>&nbsp;&nbsp;<B>DUTIES AND RESPONSIBILITIES
OF THE COMMITTEE</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-align: justify; text-indent: 0.5in"><B><I>A.</I></B>&nbsp;&nbsp;<B><I>Executive
Compensation</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-align: justify; text-indent: 0.5in">The Committee shall have the
following duties and responsibilities with respect to the Company&rsquo;s executive compensation plans:</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: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in">(a)&nbsp;To review the goals
and objectives of the Company&rsquo;s executive compensation plans, and amend, or recommend that the Board amend, these goals and objectives
if the Committee deems it appropriate.</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; text-indent: 0.5in">(b)&nbsp;To review the Company&rsquo;s
executive compensation plans in light of the Company&rsquo;s goals and objectives with respect to such plans, and, if the Committee deems
it appropriate, adopt, or recommend to the Board the adoption of, new, or the amendment of existing, executive compensation plans.</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; text-indent: 0.5in">(c)&nbsp;To evaluate the performance
of the Chief Executive Officer in light of the goals and objectives of the Company&rsquo;s executive compensation plans, and, either as
a Committee or together with the other independent directors (as directed by the Board), determine and approve the Chief Executive Officer&rsquo;s
compensation level based on this evaluation.&nbsp; In determining the long-term incentive component of the Chief Executive Officer&rsquo;s
compensation, the Committee shall consider factors as it determines relevant, which may include, for example, the Company&rsquo;s performance
and relative shareholder return, the value of similar awards to chief executive officers of comparable companies, and the awards given
to the Chief Executive Officer of the Company in past years.&nbsp; The Committee may discuss the Chief Executive Officer&rsquo;s compensation
with the Board if it chooses to do so.</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; text-indent: 0.5in">(d)&nbsp;To evaluate the performance
of the other executive officers of the Company in light of the goals and objectives of the Company&rsquo;s executive compensation plans,
and either as a Committee or together with the other independent directors (as directed by the Board), determine and approve the compensation
of such other executive officers.&nbsp; To the extent that long-term incentive compensation is a component of such executive officer&rsquo;s
compensation, the Committee shall consider all relevant factors in determining the appropriate level of such compensation, including the
factors applicable with respect to the Chief Executive Officer.</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; text-indent: 0.5in">(e)&nbsp;To evaluate the appropriate
level of compensation for Board and Committee service by non-employee directors.</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; text-indent: 0.5in">(f)&nbsp;&nbsp;To review and
approve any severance or termination arrangements to be made with any executive officer of the Company.</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; text-indent: 0.5in">(g)&nbsp;To perform such duties
and responsibilities as may be assigned to the Board or the Committee under the terms of any executive compensation plan.</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; text-indent: 0.5in">(h)&nbsp;To review perquisites
or other personal benefits to the Company&rsquo;s executive officers and directors and recommend any changes to the Board.</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; text-indent: 0.5in">(i)&nbsp;To consider
the results of the most recent shareholder advisory vote on executive compensation as required by Section&nbsp;14A of the Exchange Act
and, to the extent the Committee determines it appropriate to do so, take such results into consideration in connection with the review
and approval of executive officer compensation.</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; text-indent: 0.5in">(j)&nbsp;To review and
discuss with management the Company&rsquo;s CD&amp;A, and based on that review and discussion, to recommend to the Board that the CD&amp;A
be included in the Company&rsquo;s annual proxy statement or annual report on Form&nbsp;10-K.</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; text-indent: 0.5in">(k)&nbsp;To review compensation
arrangements for the Company&rsquo;s employees to evaluate whether incentive and other forms of pay encourage unnecessary or excessive
risk taking, and review and discuss, the relationship between risk management policies and practices, corporate strategy and the Company&rsquo;s
compensation arrangements.</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; text-indent: 0.5in">(l)&nbsp;To the extent
it deems necessary, review and approve the terms of any compensation &ldquo;clawback&rdquo; or similar policy or agreement between the
Company and the Company&rsquo;s executive officers or other employees subject to Section&nbsp;16 of the Exchange Act.</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; text-indent: 0.5in">(m)&nbsp;To prepare the Compensation
Committee Report in accordance with the rules&nbsp;and regulations of the SEC for inclusion in the Company&rsquo;s annual proxy statement
or annual report on Form&nbsp;10-K.</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; text-indent: 0.5in">(n)&nbsp;To perform
such other functions as assigned by law, the M&amp;AA or the Board.</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: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in">Notwithstanding anything to
the contrary in the foregoing, the Committee shall have sole discretion and authority with respect to any action regarding compensation
payable to the Chief Executive Officer or other executive officers of the Company that the Committee intends to constitute &ldquo;<U>qualified
performance-based compensation</U>&rdquo; for purposes of section 162(m)&nbsp;of the Internal Revenue Code of 1986, as amended and the
Treasury Regulations promulgated thereunder.</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; text-indent: 0.5in"><B><I>B.</I></B>&nbsp;&nbsp;<B><I>General
Compensation and Employee Benefit Plans</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-align: justify; text-indent: 0.5in">The Committee shall have the
following duties and responsibilities with respect to the Company&rsquo;s general compensation and employee benefit plans, including incentive-compensation
and equity-based plans:</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; text-indent: 0.5in">(a)&nbsp;To review the goals
and objectives of the Company&rsquo;s general compensation plans and other employee benefit plans, including incentive-compensation and
equity-based plans, and amend, or recommend that the Board amend, these goals and objectives if the Committee deems it appropriate.</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; text-indent: 0.5in">(b)&nbsp;To review the Company&rsquo;s
general compensation plans and other employee benefit plans, including incentive-compensation and equity-based plans, in light of the
goals and objectives of these plans, and recommend that the Board amend these plans if the Committee deems it appropriate.</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; text-indent: 0.5in">(c)&nbsp;To review all equity-compensation
plans to be submitted for shareholder approval under the NASDAQ listing standards, and to review and, in the Committee&rsquo;s sole discretion,
approve all equity-compensation plans that are exempt from such shareholder approval requirement.</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; text-indent: 0.5in">(d)&nbsp;To perform such duties
and responsibilities as may be assigned to the Board or the Committee under the terms of any compensation or other employee benefit plan,
including any incentive-compensation or equity-based plan.</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"><B>V.</B>&nbsp;&nbsp;<B>ROLE OF CHIEF EXECUTIVE
OFFICER</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-align: justify; text-indent: 0.5in">The Chief Executive Officer
may make, and the Committee may consider, recommendations to the Committee regarding the Company&rsquo;s compensation and employee benefit
plans and practices, including its executive compensation plans, its incentive-compensation and equity-based plans with respect to executive
officers (other than the Chief Executive Officer) and the Company&rsquo;s director compensation arrangements.</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"><B>VI.</B>&nbsp;<B>DELEGATION OF AUTHORITY</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-align: justify; text-indent: 0.5in">The Committee may form subcommittees
for any purpose that the Committee deems appropriate and may delegate to such subcommittees such power and authority as the Committee
deems appropriate;&nbsp;<I>provided</I>,&nbsp;<I>however</I>, that no subcommittee shall consist of fewer than two members; and&nbsp;<I>provided
further</I>&nbsp;that the Committee shall not delegate to a subcommittee any power or authority required by any law, regulation or listing
standard to be exercised by the Committee as a whole.</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"><B>VII.</B>&nbsp;<B>EVALUATION OF THE COMMITTEE</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-align: justify; text-indent: 0.5in">The Committee shall, evaluate
its performance.&nbsp; In conducting this review, the Committee shall evaluate whether this Charter appropriately addresses the matters
that are or should be within its scope and shall recommend such changes as it deems necessary or appropriate.</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; text-indent: 0.5in">The Committee shall address
all matters that the Committee considers relevant to its performance, including at least the following: the adequacy, appropriateness
and quality of the information and recommendations presented by the Committee to the Board, the manner in which they were discussed or
debated, and whether the number and length of meetings of the Committee were adequate for the Committee to complete its work in a thorough
and thoughtful manner.</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: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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: justify; text-indent: 0.5in">The Committee shall deliver
to the Board a report, which may be oral, setting forth the results of its evaluation, including any recommended amendments to this Charter
and any recommended changes to the Company&rsquo;s or the Board&rsquo;s policies or procedures.</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"><B>VIII.</B>&nbsp;<B>INVESTIGATIONS AND STUDIES;
OUTSIDE ADVISERS</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-align: justify; text-indent: 0.5in">The Committee may conduct
or authorize investigations into or studies of matters within the Committee&rsquo;s scope of responsibilities, and may, in its sole discretion,
retain or obtain the advice of a compensation consultant, legal counsel or other adviser.&nbsp; The Committee shall be directly responsible
for the appointment, compensation and oversight of the work of any compensation consultant, legal counsel or other adviser retained by
the Committee, the expense of which shall be borne by the Company.&nbsp; The Committee may select a compensation consultant, legal counsel
or other adviser to the Committee only after taking into consideration the following:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify">(a)&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 98%">The provision of other services to the Company by the person that employs the compensation consultant, legal counsel or other adviser;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">(b)</TD>
    <TD STYLE="text-align: justify">The amount of fees received from the Company by the person that employs the compensation consultant, legal counsel or other adviser, as a percentage of the total revenue of the person that employs the compensation consultant, legal counsel or other adviser;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">(c)&nbsp;</TD>
    <TD STYLE="text-align: justify">The policies and procedures of the person that employs the compensation consultant, legal counsel or other adviser that are designed to prevent conflicts of interest:</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">(d)&nbsp;</TD>
    <TD STYLE="text-align: justify">Any business or personal relationship of the compensation consultant, legal counsel or other adviser with a member of the Committee;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">(e)</TD>
    <TD STYLE="text-align: justify">&nbsp;Any shares of the Company owned by the compensation consultant, legal counsel or other adviser; and</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">(f)&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;Any business or personal relationship of the compensation consultant, legal counsel, other adviser or the person employing the adviser with an executive officer of the Company.</TD></TR>
  </TABLE>

<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; text-indent: 0.5in">The Committee may conduct
the independence assessment with respect to any compensation consultant, legal counsel or other adviser that provides advice to the Committee,
other than: (i)&nbsp;in-house legal counsel; and (ii)&nbsp;any compensation consultant, legal counsel or other adviser whose role is limited
to the following activities for which no disclosure would be required under Item 407(e)(3)(iii)&nbsp;of Regulation S-K: consulting on
any broad-based plan that does not discriminate in scope, terms, or operation, in favor of executive officers or directors of the Company,
and that is available generally to all salaried employees; or providing information that either is not customized for the Company or that
is customized based on parameters that are not developed by the compensation consultant, and about which the compensation consultant does
not provide advice.</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; text-indent: 0.5in">Nothing herein requires a
compensation consultant, legal counsel or other compensation adviser to be independent, only that the Committee consider the enumerated
independence factors before selecting or receiving advice from a compensation consultant, legal counsel or other compensation adviser.&nbsp;
The Committee may select or receive advice from any compensation consultant, legal counsel or other compensation adviser it prefers, including
ones that are not independent, after considering the six independence factors outlined above.</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; text-indent: 0.5in">Nothing herein shall be construed:
(1)&nbsp;to require the Committee to implement or act consistently with the advice or recommendations of the compensation consultant,
legal counsel or other adviser to the Committee; or (2)&nbsp;to affect the ability or obligation of the Committee to exercise its own
judgment in fulfillment of its duties.</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; text-indent: 0.5in">While the members of the Committee
have the duties and responsibilities set forth in this Charter, nothing contained in this Charter is intended to create, or should be
construed as creating, any responsibility or liability of members of the Committee, except to the extent otherwise provided under applicable
U.S. federal or state or other local law.</P>

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



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

<!-- Field: Page; Sequence: 4; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>14
<FILENAME>filename14.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 99.3</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-align: center"><B>A SPAC III ACQUISITION CORP. (the &ldquo;Company&rdquo;)</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-align: center"><B>Nominating Committee Charter (the &ldquo;Charter&rdquo;)</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-align: justify; text-indent: 0.5in">The responsibilities and powers
of this Nominating Committee (the &ldquo;Committee&rdquo;) as delegated by the Company&rsquo;s Board of Directors (the &ldquo;Board&rdquo;)
are set forth in this charter. Whenever the Committee takes an action, it shall exercise its independent judgment on an informed basis
that the action is in the best interests of the Company and its shareholders.</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"><B>I.</B>&nbsp;<B>PURPOSE</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-align: justify; text-indent: 0.5in">As set forth herein, the Committee
shall, among other things, discharge the responsibilities of the Board relating to the appropriate size, functioning and needs of the
Board including, but not limited to, identification, recommendation, recruitment and retention of high quality Board members and committee
composition and structure.</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"><B>II.&nbsp;MEMBERSHIP</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-align: justify; text-indent: 0.5in">The Committee shall consist
of at least two members of the Board as determined from time to time by the Board. Each member shall be &ldquo;independent&rdquo; in accordance
with the listing standards of the NASDAQ Capital Market, as amended from time to time.</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; text-indent: 0.5in">The Board shall elect the
members of this Committee at the first Board meeting practicable following the annual meeting of shareholders and may make changes from
time to time pursuant to the provisions below. Unless a chairman (the &ldquo;Chair&rdquo; or &ldquo;Chairman&rdquo;) is elected by the
Board, the members of the Committee shall designate a Chair by majority vote of the full Committee membership.</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; text-indent: 0.5in">A Committee member may resign
by delivering his or her written resignation to the Chairman of the Board, or may be removed by majority vote of the Board by delivery
to such member of written notice of removal, to take effect at a date specified therein, or upon delivery of such written notice to such
member if no date is specified.</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"><B>III.&nbsp;MEETINGS AND COMMITTEE ACTION</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-align: justify; text-indent: 0.5in">The Committee shall meet at
such times as it deems necessary to fulfill its responsibilities. Meetings of the Committee shall be called by the Chairman of the Committee
upon such notice as is provided for in the Articles of Association of the Company (as amended from time to time) with respect to meetings
of the Board. A majority of the members shall constitute a quorum. Actions of the Committee may be taken in person at a meeting or in
writing without a meeting. Actions taken at a meeting, to be valid, shall require the approval of a majority of the members present and
voting. Actions taken in writing, to be valid, shall be signed by all members of the Committee. The Committee shall report its minutes
from each meeting to the Board.</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; text-indent: 0.5in">The Chairman of the Committee
may establish such rules&nbsp;as may from time to time be necessary or appropriate for the conduct of the business of the Committee. At
each meeting, the Chairman shall appoint as Secretary a person who may, but need not, be a member of the Committee. A certificate of the
Secretary of the Committee or minutes of a meeting of the Committee executed by the Secretary setting forth the names of the members of
the Committee present at the meeting or actions taken by the Committee at the meeting shall be sufficient evidence at all times as to
the members of the Committee who were present, or such actions taken.</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"><B>IV.&nbsp;COMMITTEE AUTHORITY AND RESPONSIBILITIES</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify">&#9679;</TD>
    <TD STYLE="width: 98%; text-align: justify">Determine the criteria and qualifications for membership on the Board.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">Recruiting, reviewing, nominating and recommending candidates for election to the Board or to fill vacancies on the Board.</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: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify; width: 98%">Reviewing candidates proposed by shareholders, and conducting appropriate inquiries into the background and qualifications of any such candidates.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">Establishing subcommittees for the purpose of evaluating special or unique matters.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">Monitoring and making recommendations regarding committee functions, contributions and composition.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">Evaluating the Board&rsquo;s and management&rsquo;s performance.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">Evaluating the Committee&rsquo;s performance and report to the Board on such performance.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">Developing and making recommendations to the Board regarding corporate governance guidelines for the Company.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">Retaining and terminating any advisors, including search firms to identify director candidates, compensation consultants as to director compensation and legal counsel, including sole authority to approve all such advisors&rsquo; or search firms&rsquo; fees and other retention terms, as the case may be.</TD></TR>
  </TABLE>

<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>V.</B>&nbsp;<B>REPORTING</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-align: justify; text-indent: 0.5in">The Committee shall report
to the Board periodically. The Committee shall periodically review and assess the adequacy of this charter and recommend any proposed
changes to the Board for approval.</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: center"><B>A SPAC III Acquisition Corp.</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-align: center"><B>Board of Director Candidate Guidelines</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-align: justify; text-indent: 0.5in">The Nominating Committee
of A SPAC III Acquisition Corp. (the &ldquo;Company&rdquo;) will identify, evaluate and recommend candidates to become members of the
Board of Directors (the &ldquo;Board&rdquo;) with the goal of creating a balance of knowledge and experience. Nominations to the Board
may also be submitted to the Nominating Committee by the Company&rsquo;s shareholders in accordance with the Company&rsquo;s policy,
a copy of which is attached hereto. Candidates will be reviewed in the context of the then current composition of the Board, the operating
requirements of the Company and the long-term interests of the Company&rsquo;s shareholders. In conducting this assessment, the Committee
will consider and evaluate each director-candidate based upon its assessment of factors that may include, but are not limited to the
following:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify">&#9679;</TD>
    <TD STYLE="width: 98%; text-align: justify">Whether the candidate is independent pursuant to the requirements of the NASDAQ Capital Market.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">Whether the candidate is accomplished in his or her field and has a reputation, both personal and professional, that is consistent with the image and reputation of the Company.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">Whether the candidate has the ability to read and understand basic financial statements. The Nominating Committee also will determine if a candidate satisfies the criteria for being an &ldquo;audit committee financial expert,&rdquo; as defined by the Securities and Exchange Commission.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">Whether the candidate has relevant education, experience and expertise and would be able to provide insights and practical wisdom based upon that education, experience and expertise.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">Whether the candidate has knowledge of the Company and issues affecting the Company.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">Whether the candidate is committed to enhancing shareholder value.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">Whether the candidate fully understands, or has the capacity to fully understand, the legal responsibilities of a director and the governance processes of a public company.</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: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; 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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify; width: 98%">Whether the candidate is of high moral and ethical character and would be willing to apply sound, objective and independent business judgment, and to assume broad fiduciary responsibility.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">Whether the candidate has, and would be willing to commit, the required hours necessary to discharge the duties of Board membership.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">Whether the candidate has any prohibitive interlocking relationships or conflicts of interest.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">Whether the candidate is able to develop a good working relationship with other Board members and contribute to the Board&rsquo;s working relationship with the senior management of the Company.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">Whether the candidate is able to suggest business opportunities to the Company.</TD></TR>
  </TABLE>

<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>Shareholder Recommendations for Directors</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-align: justify">Shareholders who wish to recommend to the
Nominating Committee a candidate for election to the Board of Directors should send their letters to A SPAC III Acquisition Corp.,
29/F, Sun&rsquo;s Group Center, 200 Gloucester Road, Wan Chai, Hong Kong, Attn: Corporate Secretary. The Corporate Secretary will
promptly forward all such letters to the members of the Nominating Committee.</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; text-indent: 0.5in">The recommendation must contain
the following information about the candidate:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify">&#9679;</TD>
    <TD STYLE="width: 98%; text-align: justify">Name;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">Age;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">Business and current residence addresses;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">Principal occupation or employment and employment history (name and address of employer and job title) for the past 10 years (or such shorter period as the candidate has been in the workforce);</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">Educational background;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">The number of ordinary shares of the Company owned beneficially or of record by the candidate;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">The information that would be required to be disclosed by the Company about the candidate under the rules&nbsp;of the Securities and Exchange Commission in a Proxy Statement soliciting proxies for the election of such candidate as a director (which currently includes information required by Items 401, 404 and 405 of Regulation S-K);</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&#9679;</TD>
    <TD STYLE="text-align: justify">A signed consent of the nominee to serve as a director of the Company, if elected.</TD></TR>
  </TABLE>

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



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

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

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>15
<FILENAME>tm2420226d1_drsaimgsp9001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 tm2420226d1_drsaimgsp9001.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  H'!PD'!@H)" D+"PH,#QD0#PX.
M#QX6%Q(9)" F)2,@(R(H+3DP*"HV*R(C,D0R-CL]0$! )C!&2T4^2CD_0#W_
MVP!# 0L+"P\-#QT0$!T]*2,I/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3T]
M/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3W_P  1" !9 DX# 2(  A$! Q$!_\0
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M%HWV6WGM5E(/F"=Y$*@C@J54\T 7]0UFRTQ@EU.L<CJ60,#S^0-<]<^)Y;N
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M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
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MA>#L<-C\JKZOK%GH6FR7^HR^5;1XW/M+=3@<#D]:J(F@0ZO:B!;)+\JWDB$
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(4 %%%% '_]D!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>16
<FILENAME>tm2420226d1_drsasp9img002.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 tm2420226d1_drsasp9img002.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  $! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_
MVP!# 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_P  1"  U U@# 2(  A$! Q$!_\0
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MU]^R?_T<[\ 3_P!U>\$_U\35UGB3X _!#Q=JMQXC\8_!SX4^*O$4]J%N]?\
M$/@'P?K>KWG YEUC5] F=P1G.7P"06  K(/[+'[.!_YH!\#_ /PU'P['\O#-
M?*5WQ==V_P!4]_M>U_"[73MIV.G_ &5]_E8Q/^&O_P!E#_HZ'X ?^'=\$_\
MS14?\-?_ +*'_1T/P _\.[X)_P#FBK4_X98_9P_Z-_\ @=_X:;X<_P#S/5)_
MPR[^SC_T;[\$/_#6?#O_ .9RL>7C+^;A#_P'BPB^4?R\4_\ @RA_\K,;_AK[
M]D__ *.>_9__ /#O^"/_ )?T?\-??LG_ /1SW[/_ /X=_P $?_+^MC_AE[]G
M#_HW_P"!_P#X:WX=?_,Y1_PR]^SA_P!&_P#P/_\ #6_#K_YG*UMQE_-PC_X#
MQ6%\G_DXJ_\ !E+_ .5F/_PU]^R?_P!'/?L__P#AW_!'_P OZ/\ AK[]D_\
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M /AW_!'_ ,OZ/^&OOV3_ /HY[]G_ /\ #O\ @C_Y?UL?\,O?LX?]&_\ P/\
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MGOV?_P#P[_@C_P"7]'_#7W[)_P#T<]^S_P#^'?\ !'_R_K8_X9>_9P_Z-_\
M@?\ ^&M^'7_S.4?\,O?LX?\ 1O\ \#__  UOPZ_^9RBW&7\W"/\ X#Q6%\G_
M ).*O_!E+_Y68_\ PU]^R?\ ]'/?L_\ _AW_  1_\OZ/^&OOV3_^CGOV?_\
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MSA_T;_\  _\ \-;\.O\ YG*/^&7OV</^C?\ X'_^&M^'7_S.46XR_FX1_P#
M>*POD_\ )Q5_X,I?_*S'_P"&OOV3_P#HY[]G_P#\._X(_P#E_1_PU]^R?_T<
M]^S_ /\ AW_!'_R_K8_X9>_9P_Z-_P#@?_X:WX=?_,Y1_P ,O?LX?]&__ __
M ,-;\.O_ )G*+<9?S<(_^ \5A?)_Y.*O_!E+_P"5F/\ \-??LG_]'/?L_P#_
M (=_P1_\OZ/^&OOV3_\ HY[]G_\ \._X(_\ E_6Q_P ,O?LX?]&__ __ ,-;
M\.O_ )G*/^&7OV</^C?_ ('_ /AK?AU_\SE%N,OYN$?_  'BL+Y/_)Q5_P"#
M*7_RLQ_^&OOV3_\ HY[]G_\ \._X(_\ E_1_PU]^R?\ ]'/?L_\ _AW_  1_
M\OZV/^&7OV</^C?_ ('_ /AK?AU_\SE'_#+W[.'_ $;_ / __P -;\.O_F<H
MMQE_-PC_ . \5A?)_P"3BK_P92_^5F/_ ,-??LG_ /1SW[/_ /X=_P $?_+^
MC_AK[]D__HY[]G__ ,._X(_^7];'_#+W[.'_ $;_ / __P -;\.O_F<H_P"&
M7OV</^C?_@?_ .&M^'7_ ,SE%N,OYN$?_ >*POD_\G%7_@RE_P#*S'_X:^_9
M/_Z.>_9__P##O^"/_E_1_P -??LG_P#1SW[/_P#X=_P1_P#+^MC_ (9>_9P_
MZ-_^!_\ X:WX=?\ S.4?\,O?LX?]&_\ P/\ _#6_#K_YG*+<9?S<(_\ @/%8
M7R?^3BK_ ,&4O_E9C_\ #7W[)_\ T<]^S_\ ^'?\$?\ R_H_X:^_9/\ ^CGO
MV?\ _P ._P""/_E_6Q_PR]^SA_T;_P# _P#\-;\.O_F<H_X9>_9P_P"C?_@?
M_P"&M^'7_P SE%N,OYN$?_ >*POD_P#)Q5_X,I?_ "LQ_P#AK[]D_P#Z.>_9
M_P#_  [_ ((_^7]'_#7W[)__ $<]^S__ .'?\$?_ "_K8_X9>_9P_P"C?_@?
M_P"&M^'7_P SE'_#+W[.'_1O_P #_P#PUOPZ_P#F<HMQE_-PC_X#Q6%\G_DX
MJ_\ !E+_ .5F/_PU]^R?_P!'/?L__P#AW_!'_P OZ/\ AK[]D_\ Z.>_9_\
M_#O^"/\ Y?UL?\,O?LX?]&__  /_ /#6_#K_ .9RC_AE[]G#_HW_ .!__AK?
MAU_\SE%N,OYN$?\ P'BL+Y/_ "<5?^#*7_RLQ_\ AK[]D_\ Z.>_9_\ _#O^
M"/\ Y?T?\-??LG_]'/?L_P#_ (=_P1_\OZV/^&7OV</^C?\ X'_^&M^'7_S.
M4?\ #+W[.'_1O_P/_P##6_#K_P"9RBW&7\W"/_@/%87R?^3BK_P92_\ E9C_
M /#7W[)__1SW[/\ _P"'?\$?_+^C_AK[]D__ *.>_9__ /#O^"/_ )?UL?\
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M_P#P[_@C_P"7];'_  R]^SA_T;_\#_\ PUOPZ_\ F<H_X9>_9P_Z-_\ @?\
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M"^3_ ,G%7_@RE_\ *S'_ .&OOV3_ /HY[]G_ /\ #O\ @C_Y?T?\-??LG_\
M1SW[/_\ X=_P1_\ +^MC_AE[]G#_ *-_^!__ (:WX=?_ #.4?\,O?LX?]&__
M  /_ /#6_#K_ .9RBW&7\W"/_@/%87R?^3BK_P &4O\ Y68__#7W[)__ $<]
M^S__ .'?\$?_ "_H_P"&OOV3_P#HY[]G_P#\._X(_P#E_6Q_PR]^SA_T;_\
M _\ \-;\.O\ YG*/^&7OV</^C?\ X'_^&M^'7_S.46XR_FX1_P# >*POD_\
M)Q5_X,I?_*S'_P"&OOV3_P#HY[]G_P#\._X(_P#E_1_PU]^R?_T<]^S_ /\
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M_P##O^"/_E_1_P -??LG_P#1SW[/_P#X=_P1_P#+^MC_ (9>_9P_Z-_^!_\
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M .5F/_PU]^R?_P!'/?L__P#AW_!'_P OZ/\ AK[]D_\ Z.>_9_\ _#O^"/\
MY?UL?\,O?LX?]&__  /_ /#6_#K_ .9RC_AE[]G#_HW_ .!__AK?AU_\SE%N
M,OYN$?\ P'BL+Y/_ "<5?^#*7_RLR_\ AL3]E+_HY[X _P#AXO!?_P T=68_
MVQ/V4FX'[37[/_89/QL^&I_]V0#@>E:?_#+/[./_ $;_ /!'_P --\//_F;H
M_P"&6OV:O^C>O@;_ .&G^'O_ ,SE1;B]?]$B_P#MWBS_ #+?U7LOE9?E8N^!
M_P!H'X(_$O7AX:^&WQA^%WC_ ,0K9WUW=:/X(^)7@_Q/J=IIJMA=5FTG0M>N
M)?)+D;IO++QJ6D++AL%:/@WX(?"7X<ZL==\ ?"CX<>#-5^Q?8#JOA/P=H/AK
M4/[+!#?V83H6A1!H 1RH;<P[$$T5[F7_ -I?5H>WM[3K>VWS^?\ P]SG?LO^
M7/P?J>U4445Z8@HHHH **** "BBB@ HHHH **** "BBB@ HHHH 9O'H?T_QJ
M+S8?7]3_ (TLW^I/T'\J^*/VEKKQ#8:9X8O+K]JG4?V:='U'Q"=&*^$?!/PU
M\2^/?'?BK6RKZ%X(\%#XO>%_%EMKMSM_M.6/PMX4^$WBWQIXS.BR>3(8XF\(
MR 'VMY_M^G_UZD\V+^^OYU^9_A+Q9^T/\9K.#P3IWCS7_@=>:5X2C\2>-/']
MQ\.=&7XMW^E>(OB?X^\#_"K7?#W@OXB1^)_"?@/7/$WAWX+ZYXK\=>'OBCX-
M\8S>$$\<'P(W@?PI<Q'Q;X.Z/PS\1?C!\1/ 7[5OPYC\8:%X+^-/P!\?^)/A
M$OQ:TGPA_P ))X<U#5==^#7PE^._@7QIHO@;Q!XB5/[=A^'?Q8\/CQGX8>0^
M"V\;Z)XF55/@PPK. ?H3Y_M^G_UZE\Q/[PKX"TCQW\5O&W@?X"^$M'\=VNB>
M,/BO\#-2^(7C?XF76@:9?ZEHJZ!H?P^T76M;\%Z,(HO#"_$-O$WQ3T3Q+X.B
M\4^$+CP,T6@%)?!#K)) ,'0/B-\6X]5_:0_9R\4^+K_4?B)\*/@EX(^('@;X
M^6FB^#]*U/6_#?Q4TGXM>&]!U?7="/AU?AL/C-X6^(WP0\=^*O&?AN+P6W@4
M^"-;^&<W_"&HOC#Q=X-\)@'Z+>?[?I_]>I/-B_OK^=?BS^Q_\2_V@_B)\-/V
M:/BIJ_QW_:&^+'BOXM?#WX,>-O'_ ,/?&W[,^B?#CX/:-I_CGP]X9U[QUJ_@
MSXIZ!\$?A2(X_"\.MZSXC\&+_P +;\8MXSC)\&1KXQ=HY#Z]X(UG]HKXO>#O
M@OX+\-?'*7P3K=[^SI\+_BW\9/BQ;>"?AOJOQ@\6:O\ %+RX_#>A_"O0=;\/
M3_ SPQ#*O@;QK/XV\2>*/!GC"-8I/#O@[P5$DTT_C+P@ ?J)YL/K^I_QH\V'
MU_4_XU^1GQ5^(/[0?P=@^*WP+U+XX:QKWC#4_P!E+XQ?M&? CX]:EX)^&?\
MPG&BZE\"?$7@1/B=H'Q7\&:#X9C^&?B',GQ7^%!\$^(?"/P@ 'A!O%-KX[;P
MGXX/@[QEXXPI_P!H?XM:MHWPF_9ZUOXTZKX!_:M\+?%_3?AI\=;W0?AOHVEZ
MK\2O 4NC_%[1/ O[0'@G0/B#X97PT?A_\5_^$(T7XGL_PL'C'PAX+\9_\)+\
M#7\=O-X4F:@#]D/.A_Y[?^/'_"CS_;]/_KU^)G[%?CWXS_'_ .'7[*7C'Q;^
MUY^UK<>-/B=\!/A7^TEXQ\+:]^S+\+_!7P0N4D/PHU[QM\-A\4&_9+\+N?\
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M-\1^)I/%@F\%?\(T)"1*^\ _0_SH?^>W_CQ_PH\_V_3_ .O7XEP_M,_M(_\
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M^'?&O@./QEX\E/@Y #]>/-B_OK^=1>=#*/EF [X!Q_G.>N37YC_&?XF?'?\
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M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
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MQF[IXNE\:-_PEWGSW(>XD^DZ* /DS7_V7_!.O?#+P'\+KZ7Q=:6?PQT>PLO
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M4_"_Q'USPU\8-'\,-%HVAZYH&K>.]%:+Q!K>A>*_#WAS0=!\=^% 7\'>,8]
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MA;KOBOP5CP@&VKXF\"1H\H57^MM"_;M_9B\2>#/!/P5N=6^/VDZ_XZ\$>*O
M^F1VW[/O[5/P[\2VFI^"?@SX[\>>.-*\&>.O$?PS\(RQ_$7PGX!\#^-VCAAN
M3XS_ .$OBM\()B8(P#WCQ]\.?@7X"^%?@/X,>*O'G_"I_!6J_&+P*GPS0_$C
M2/AMJ3>/?^%HGXK^ /AA\+O*_P"$:*(_B/15\,^"_AEX30E/ V@_\(5X'B3:
MR+FZ-XX^ /Q%\8/^V1X<_:O\-ZW\'_A!\-_B=\,?&.K>$OCOX/U#]FFR>3QE
MX#\>:_K7Q2UK0?$/_"+CX@?"<>"!X827Q/*?^$-\'^/O%<3,C>*9 >,UC5_!
MNF?LT?L?Z9X0L_CGK?A_7?'/[)6B>!;WX@^&OC)XB^+O]EKK7@+7M$UOXX?\
M)#X=;XG>'O$ \.Z&3XW\4?%EO!^SQG_R/I)+&OB/7?#OB'X4?L2^._CU^SU\
M(M>\2^$/C#^R?J?@S]I#]GSPO\&==\$_%S7O'N@?#'QSX(_X73X$\%^(U\(>
M(_$?Q$'B.5/"_P :O#'BCPB?&7QF\'>'_#7C;P!XX+^"?"7@GXQ 'H'B?1_^
M":'P_P#&_B;PY>?\% ]!^$F@>)=<;XG>/_@,_P"WWI'ASP-X@U'XL(WCO6]:
MU?P3X@^(X\3>'=!^*_\ ;Z?%,OX4\6>%$\:C77\9;?G,GBWZ3\#ZS^Q=^SAH
M7Q _:KL_CS\,/!?PP_:OUGP%\1-)^,7Q-^,_@[0?A?J$;^!8-&^%ND?#+QKX
MEE3PQH'P]'PZ\#CQ'X&\+^&0_A0@^*)54Q32YX7X5?#OXC?$OQ5\4YO!_P ?
M?C-\%-+T#Q=\"-1N_"]G\'_AO9>&O$&FC]F;]F?7I=5&M?%[X(MXH!\4G0]9
M\+>,X_"7C%F\'?V$8XD\&^/(CBUX_P!;\+_LY_M02_%'XT> O$^L_#?5_A]X
M"\ ?L_>-O /P5\7_ !7TSX$^)-&TOQ]K'Q4\&ZOI'PB\-^+O%'PGT/XK8\$,
M/$D'A.3PGXQAT+_A#;GQHJ#P9X/4 ]V_9F^%/P.\&>&H/B-\'OB9J?C;X7^)
MOAQIG@SP]X@_X6/_ ,)M\-8_ F@>-OB[X]T%/!.L OX:/A_PF/BGXX\,(5W)
MX/\ !?A_PQX)C)3PHA;P[]EV_P#^"=_P$\#_ +1'CC]G?]I3X*W?PH^)_P <
M=4^)GQ3\1:)^T3\._&GPR\)?$_XN3>!/#D.B:+K(\1R^&? (\4#_ (07PMX-
M^&6[R@!X:\(>!5AA,97PGXX^&/&'QP\,_$SXG_LV> -=\ ?#GQIXO\":SX[T
MGQ9\$V\/>)OCOJ.@?!;X^^ Q\46^"/B/PT/%/Q!'A+XB^-OV5?$S^%_BQX0\
M(>-?&7@[]FGQ&O@3P1XS/A7P3X.\:>;_ +*7PGN?CYX\\?IK?A73](^!=Y\*
M=.\->.M*\1>+_P!LKXC>-;#5=;T7XN> _P#A6'@KQ!^V_P#LV_"5?'GPY\6^
M'M?7XG>-1X3_ .$1\(>#?&7@'X9>"!\#9!')XV\8@'W#>_ W]C;3O$VG?LVW
MOQ3T6U^..I?L?:E^S_I'AV[^+^AZ=^T+J/[.@T4Z"?&/]A[_ /A)]?8'0M<Q
M\4_^$1PK'Q(2S@,*W/@Q8_LH?#;QY^UQ\3O!?[0G@CQ=XHL_$/A6[_:T\2^(
M/C1X1\9ZO\*-8^%/@@^"-(7XH:LZE_A GA/PUH&L,OA3Q1)X4\'EO^$J\:L
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MOX9>.-#_ +!UM-'^&'CO7O&/B;PW\/O&7AW6_P#A%V\5>*87;Q='X@D\'?\
M"82)XH\I^2L/ ?[(OP1TOP[^T+X^_:M.H_!?0M:BLOA7>?'G]IK2=5_9[\">
M)7DU_P /Z'_P@NKZ]XC'AW_A)?"0T36?"_@UI/%WB[Q=;#1?,>1_'4,GC*OE
MQO''QF:U\-_\%&_@]X)^*%MXQ_:?U7Q/\&-+^"'QB^'7Q,TI_ .D>/=$\!^
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M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
MHHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "B
MBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ***
M* "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
M **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@#
"_]D!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>17
<FILENAME>tm2420226d1_drsasp10img001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 tm2420226d1_drsasp10img001.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  $! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_
MVP!# 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_P  1" "! S8# 2(  A$! Q$!_\0
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M#\=_">G>&7_9#_X*C_!MK35M.UAO$OP)\;_L;>#/%.H2'1]:4Z.VOI^TGXJ
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M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 44
M44 %%%% !1110 4444 %%%% !1110 445YG\0-2\<6GA37&^'6C^'-?\?C1]
M3?PGHWC'Q-JW@[POJ>J"- L.O^(-&\*>,YM$B5FE82Q^$?$LF53$7SR$@'$?
M';Q_\3/!'@ZYNO@QX.^&WQ(^(@NK$V'@OXE?&!?@CI-[I7F?\3?53XVC^'/Q
M6D CBX"KX-</\Q,J,%#?COXQ^'_[5'CKQ3KGB_Q+^QIX+M]:\5WAUF\M?#?_
M  7T_;+\%>%L@9)T3P1\/?@EX4\+>&P1G;_PBWA$ GY02V*Z_P".7[%OQN_:
M:\90?$/X_?\ !-3_ ()6?&+QS;Z-I_AO_A+?B'^TC\9M5U1=+T1F?1-&#2?L
M3OA4;7=<"H?W<89(PH4QI7D<W_!*^"$?O_\ @C__ ,$?!GT^/'QDZ^Q_X8GS
M^ ]: -W0?V?/VE-7UG3]/N/V/;:VL+R\TXZM>Z7_ ,' /[?GB34M/TLM_P 3
MK66T,?#=5U\#(4 E7?L00:^XOA;\4_V!?V>/%/BWPEX:_:7-MXAN;L:'XBTC
MXM_M3?&+XK?8=1T=M:D_LC0U^,7Q'\7>'O#S1;-:WP^%&@\PAPZ,1%A?V0?V
M'?@%^S183?%BW_9 _94_9F^-C:-XIT/Q3=_LXG5O$^F'PPVKHPAT?QIX@^&O
MPG\2E'CT;1BY_P"$2C8%$52ZS!J_D/\ B1XVU7XG?$;QQ\1M5_Y#'CSQAXH\
M3WO_ ''=:_M[Z_YQZU\/Q9Q)_J]9_D>OEF6O-GZ=_/\ KY']ZFD?%GX5:S8+
MJVA?$KP#JUA.-PU73_&>AZAIA//\46MR(#V^5P>F:W+?X@^ [M_(MO&WA2>;
M&=EOXCT>5O\ QVX;GVP3]:_SU_(]_P!?_K49A_Y]_P"?^%?+?\10_P"I.ST/
M]6Y?SO\ #_Y+_(_T2+74]-O%_P!!O+"X'_3O=))_Z S'CCK5WSTZ>8,?[W'T
MK_.ZTW6-5T?_ )!6JZCIO_8)O?[-]?\ /Z]Z^]OV$OVK/C3\,_VAOA-X<'QB
MUG3?ASXP\>>&-'^(FE>+O$0U3P,GADZNR:XX_P"$@(_X1\@.RGQ2&4D,RY&3
MGNR_Q.P>-QGU)95.+[J5U]SBT<^)R1X3K==K+_/]/4_LH\0Z[I/A_1=2UK5M
M3T_3-(TNT:ZN]5U6\^PZ=8JH/S2R$  < DELDE54EB ?P@_9C\=VW[:'@;QU
MKW@']@[]C:U^)6B>.@NJ^*OB3\.AIOPB\6:;K7F-KKQ>-=!^''B[Q(WQ'4.6
M<.'C9=;4RJRH:^</^"J'[>]I\49O&/[,/@+3]/U3P=X9\1Z7>ZQ\2=)\6K?I
MXL_L+11KRZ.?[ 5M .@_V_K2J[23N&/A\D(@VJO[%_\ !.+]G7Q=^SA^S?I/
M@SQEXOT[Q)-KFJQ^/[/3-'TG[!I_A0^(M+T75FT-=6!\S7!%(J%KADV,'*H6
M"N5]G"YR\UXDE@\$DLGR%7FTM'4Y>5;]$U9=;>NGGRP[PV#3QGQ2U5[[/5O3
MK9K?2^[/S<\0_%'X->%=<U;PKXHL?^#>SPWXFT'5M0T?Q'X=\2_'3PGX;\3Z
M#J>DD#6M&U[1)?AIYOA_Q(A!\R.1O,@Y,R*NPU]A?!+_ (*)_"Q=7N=-^.7[
M7'_!*?PYX(MM#%IX<A^"/[9VA>(-3_M1%WHCZ5XWA\)Z GAU-"_>*UO*[K+D
MH'0;#Z'^UO\ "?Q#HMBOQ&^$O@'_ ()[^&O#]A9>*=;^,/C?]KCX<2-IEFN%
MU<:ZGB#PT_A<PQOG69O&;>*)E;_EJ6R)F/YL_P#"V;B:+_DM7_!N20.W_$XQ
M]>/B."<__K-?=' ?T5>'_%'A[Q5I&C^)/#6LZ3X@T+Q!8Z9J^DZ]X?U73]6T
MK6M)U8(^DZII&KVLAMM5TF42$P7$;.)U(>$2J5$G7U^7_P"R5^UGH?B9#\//
MBE^U3_P3R\;^-]3O=/T?X2>"/V3_ (J+J3ZCI&BZ&=VC)X*\2^*?%7B/7#$=
MC!_"Y=5BC,:IRI7]0* "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHH
MH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
M HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "
MBBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **
M** "BBB@ HHHH ;P@[]?Q)K\@/VS/ /[6OQM\6WW@N__ ."?'_!/[]JOX#^%
MO$:ZY\.;K]I;XNZS)JK:H=#"?VT/ >O?LV>,_#6@:^7US7/#*M'XO;.-ZR&(
MMN_1SXV^)O ?@[X9^+?$GQ)O->TSP59V/V3Q'JOAVT\:OK]CINL7,.B,='7X
M?AOB!YXDU:/9)X54WD:^8;=H2'(_&J*T_P""2LL8F'Q8_;V([D?M(_\ !:8#
MIWW?$H'/7L?K0!YA_P ,-_&'_I!9_P $1O\ PL-'_P#H)Z]X_9B_8+\/:O\
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M+^&7CC2CJWA'QMX5NQ?>'M;T[/EE@<[D=6RK!@K@J0PQ@, >QT45\*_MG?\
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MH_$Q\.:KX[\*R>')G\IO&&B#SI(O)$]?=,]_<_\ !QI_P<!^'M0\.66NZ?\
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M]IR01!K=H_"'@37[KS6DMP)/] C_ (-'_P!L6]_:#_X)QZI\"O%6LR7OC/\
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M=?!3PCIWV'3?C9^TQX%^%'C75FUJW\3LW]O>&_#VLZU$BN/)3Q@5,XCCB8(
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M)K?BAHY8/"?B-O"?C98+EH8KFV82NT?TU^S]\9? _P"T[^SU\*/COX*BFO\
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M):Q<M\*M&\2:E?>//VBI?CUHOC5P->\0-_PC^@6Y^%.@RPC8<2:WXDPRD>8
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M?@[\ -#\8_"SPP6V@^#=<U_Q[XJ;XH>/HHVE/F^)O#7BSX-O(8Y&A@\*[4W
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MX+T?0[AH_ >@_"B;QM^SSXI^-,(_X2P-X,^/,4-JOA*7P>3XQ /Z!J*_(/\
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MPV^+/Q3_ &B_@]\7M'UKX1>$_A+\+O&7Q,U/Q7I_B*%- ^*N@:T?#>@^)HO
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M *.9_;8_\2%U?_Y04?6\7_T*?Z^\+KN?HY17YQ_\.W/!'_1S/[;'_B0NK_\
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M?_Y04?6\7_T*?Z^\+KN?HY17YQ_\.W/!'_1S/[;'_B0NK_\ R@H_X=N>"/\
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M?9_#GQ;_ +2\6^'SG['XAM./$V@_@#_Q4'^?6OR_B3A+&83&?VUDI[&&Q/\
MS!8WYH_T=_V8?^"MG[.WQKM8])^(E]9? WQR3I\;:7XUUF)?#-ZLH)\S1_&[
M,D3*C #/BN'PK)EAB,@RL?YA/^"]_P#P7GU/XHZSXO\ V+OV+?%\VB?#/0=7
M%E\8?VA_AYXN(_X6V1HKG7/AAX%US0&=E^&ZF20>,_$VYAXP70RBD> N/&7X
M9_M7?MC6.O:#;^!O@[KGVFW\4:/_ ,5AXA^Q_P#,+UWC^Q-#Z_\ <[]17YC_
M /++_/\ =K[#AO$YQB\'_P +27F^IY^)RW!ZO!7].WIL]?,[#X>^//$?PP\6
MZ-XQ\*WWV;6-+O?_  /_ .H+KF?_ -?3O7[\? WXV>%?C;X2M_$>AW%M;:Q:
MV9_X23P]]LQJ>@ZH,_R_^OVK^=>NX^&_Q(\8_"OQ1;^*O ^JW.FZA:\WEI_S
M#;_2S_S!=<_EG\*\_B3AO_6'!_[%_P CPZ,-B?JA_H8?\$U/^"FC^ #H/P!_
M:'UTKX*;%EX$^)GB"^$?_")L'B/_  A^NMM)DT")8SL\1NPA\)C,%SB)]T?]
M.=G=V]W;P3VS">WN1FWN!@@@YP3D9'()!P-V/P'^7)\/?VWO@[XJ\+W&J^*M
M5_X0G7]*L_\ B<>'KNS_ +2Z?] /MX@_/KU[5[KJ7_!Q[^UW\-O@5<?L^_LY
MZI_8=D0;'P[\9/&VCZ/XB^)G@72N!_8O@K0M?_X2WPLY4*-I\7#QF4&X(1N;
M=S<)9CF^%:R;.TFTFD[:J_GV\KG/F>6X/_?<%MU7EY>=^_F?UN_\%@/^"T'P
M6_X)O_#VZ\+>&IM%^*?[5OBBTU6S\"_"S3=6TC4AX(SI4LB^,?BEOD,F@^'X
M9,2)X;*_\)5XPA>.*QC57D\K_,S^*_Q8^)?QT^)/B[XO?%_Q?J/CSXB^.=67
M5_%OBC4[H:AJ%YJ2X5410 JJJ@!0  %&  !BL'QMXQ\5?$CQ=XH\?^/_ !'K
M?C;QQXRUC5/$_C#Q9XAO/[2U/7M4UW_D.ZUKG_ZOI6-INFZKKU_IVE:58W.I
M:AJEY]BL[6TS_I^J>OIR<_\ ZJ^YQ/7Y_P#MQSX;#?U_7];G4_#'X;ZY\6O&
M^C^!_#G_ !\:I>?Z9=]?L&E\?\3KKW.3_P#6XK^WS_@CA_P3_L/B#XM\*^(;
M[2S;?!GX WGAB\!NM(7^S?'7CO003H>D_,#PI*^)O&WR,#)(BL,-D?FA_P $
ML?\ @FAXP\?^+--\ Z)!;?\ "4:JRZO\4OB8MB6TWP+X98X&B *"3@$LS<+X
MQ\8JTDC+&K,/[^_@I\'?!GP(^'7AOX7^ =+73O#/A>QBMK5BBF^O]1&TZSK>
ML3'RS)K/B)Y#/-)\Q5G9E:-6$0^%H4(\59S'&-I9)D+<::;2YI).5EWLDV_)
M?(Z,3B7A<']17_#+;\=CV>'_ %4'T_J*LT45^E'SX4444 ,V#U/Z?X4;!ZG]
M/\*?10 S8/4_I_A1L'J?T_PI]% #-@]3^G^%&P>I_3_"GT4 ,V#U/Z?X4;!Z
MG]/\*?10 S8/4_I_A1L'J?T_PI]% #-@]3^G^%&P>I_3_"GT4 ,V#U/Z?X4;
M!ZG]/\*?10 S8/4_I_A1L'J?T_PI]% #-@]3^G^%&P>I_3_"GT4 ,V#U/Z?X
M4;!ZG]/\*?10 S8/4_I_A1L'J?T_PI]% #-@]3^G^%&P>I_3_"GT4 ,V#U/Z
M?X4;!ZG]/\*?10 S8/4_I_A1L'J?T_PI]% #-@]3^G^%&P>I_3_"GT4 ,V#U
M/Z?X4;!ZG]/\*?10 S8/4_I_A1L'J?T_PI]% #-@]3^G^%&P>I_3_"GT4 ,V
M#U/Z?X4;!ZG]/\*?10 S8/4_I_A1L'J?T_PI]% #-@]3^G^%&P>I_3_"GT4
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M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 44
M44 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !111
M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 44
944 %%%% !1110 4444 %%%% !1110!__V0$!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>18
<FILENAME>tm2420226d1_drsasp10img002.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 tm2420226d1_drsasp10img002.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  $! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_
MVP!# 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_P  1"  R U@# 2(  A$! Q$!_\0
M'P   04! 0$! 0$           $" P0%!@<("0H+_\0 M1   @$# P($ P4%
M! 0   %] 0(#  01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T? D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0 'P$  P$! 0$!
M 0$! 0        $" P0%!@<("0H+_\0 M1$  @$"! 0#! <%! 0  0)W  $"
M Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O 58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H # ,!  (1 Q$ /P#^QCXE?M7Z
MA\+_ !GJW@^/]F3]K'XC)91V%P/%'PN^$VG>(O!MV]S90B1-.U@>(M&BN7B:
M+RYXTDO9+=E6.4V^423A?^&[]2/_ #9-^WH^/^J'::N/_+_YS_2OT*DM$ 4*
M"1\Q^X&ZXZYZ5"UE&^-ZN<9QB,+UZ].O05\?7RKB"M6G4AG6/P\)/W:-#*^&
ML53@DDO=K9A5CBY\UN9^U2Y9-QA^[C$Z85:48*,L)1J-7O4D[2EJWKUTV7DC
M\^C^W?JB]/V(_P!O/GU^"6FK_+Q\<TG_  WCJO\ T9'^WE_X933O_F]K]!/L
M"#[B'WWJ_P"&-OXYS[4OV/;T5>?]B4_T-:4\IS]1BGQ1G,'K[L<IR&*6KVCA
MYNBK[^X];WE[US*=3#.3OD^55'I[];'YA1J2T7Q4Z$72C;9<KUBDW[S9^??_
M  WAJI_YLC_;T_#X*:;^N?'A_I1_PW?JW_1D?[>O_AE-,_\ FZK]!1:G^Z/^
M^)!_-:7[)_L#_OE__B:T_LS.5I+B7.Y/K+^RLGU_\G[:&;J86_\ R(\G_P##
MIFW_ ,@?GS_PW?JW_1D?[>O_ (933/\ YNJ/^&[]6_Z,C_;U_P##*:9_\W5?
MH-]D_P!@?]\O_P#$T?9/]@?]\O\ _$T?V;G'_11YW_X:<G_^3%[3"_\ 0CR?
M_P .F;__ "!^?/\ PW?JW_1D?[>O_AE-,_\ FZH_X;OU;_HR/]O7_P ,IIG_
M ,W5?H-]D_V!_P!\O_\ $T?9/]@?]\O_ /$T?V;G'_11YW_X:<G_ /DP]IA?
M^A'D_P#X=,W_ /D#\^?^&[]6_P"C(_V]?_#*:9_\W5'_  W?JW_1D?[>O_AE
M-,_^;JOT&^R?[ _[Y?\ ^)H^R?[ _P"^7_\ B:/[-SC_ **/._\ PTY/_P#)
MA[3"_P#0CR?_ ,.F;_\ R!^?/_#=^K?]&1_MZ_\ AE-,_P#FZH_X;OU;_HR/
M]O7_ ,,IIG_S=5^@WV3_ &!_WR__ ,31]D_V!_WR_P#\31_9N<?]%'G?_AIR
M?_Y,/:87_H1Y/_X=,W_^0/SY_P"&[]6_Z,C_ &]?_#*:9_\ -U1_PW?JW_1D
M?[>O_AE-,_\ FZK]!OLG^P/^^7_^)H^R?[ _[Y?_ .)H_LW./^BCSO\ \-.3
M_P#R8>TPO_0CR?\ \.F;_P#R!^?/_#=^K?\ 1D?[>O\ X933/_FZH_X;OU;_
M *,C_;U_\,IIG_S=5^@IM@, A03T!#C/TRO-+]D_V!_WR_\ \31_9N<?]%'G
M?_AIR?\ ^3#VF%_Z$>3_ /ATS?\ ^0/SY_X;OU;_ *,C_;U_\,IIG_S=4?\
M#=^K?]&1_MZ_^&4TS_YNJ_0;[)_L#_OE_P#XFC[)_LC_ +Y?_P")H_LW./\
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MJH^H?_XFD^RCT7\G_P#B:/[-SC_HH\[_ /#3D_\ \F'M,+_T(\G_ /#IF_\
M\@?GU_PW?JW_ $9'^WK_ .&4TS_YNJ/^&[]6_P"C(_V]?_#*:9_\W5?H-]ES
MT53^#_\ Q-'V3_8'_?+_ /Q-']FYQ_T4>=_^&G)__DP]IA?^A'D__ATS?_Y
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MD?[>O_AE-,_^;JOT&^R?[(_[Y?\ ^)H^R?[ _P"^7_\ B:/[-SC_ **/._\
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M>O\ X933/_FZH_X;OU;_ *,C_;U_\,IIG_S=5^@WV7_9'Y/_ /$T?9/]@?\
M?+__ !-']FYQ_P!%'G?_ (:<G_\ DP]IA?\ H1Y/_P"'3-__ ) _/G_AN_5O
M^C(_V]?_  RFF?\ S=4?\-WZM_T9'^WK_P"&4TS_ .;JOT&^R?[ _P"^7_\
MB:/LG^P/^^7_ /B:/[-SC_HH\[_\-.3_ /R8>TPO_0CR?_PZ9O\ _('Y\_\
M#=^K?]&1_MZ_^&4TS_YNJ/\ AN_5O^C(_P!O7_PRFF?_ #=5^@WV7_9'Y/\
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M\[_\-.3_ /R8>TPO_0CR?_PZ9O\ _('Y\_\ #=^K?]&1_MZ_^&4TS_YNJ/\
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MO7_PRFF?_-U1_P -WZM_T9'^WK_X933/_FZK]!OLG^P/^^7_ /B:/LG^P/\
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M?JW_ $9'^WK_ .&4TS_YNJ/^&[]6_P"C(_V]?_#*:9_\W5?H-]D_V!_WR_\
M\31]D_V!_P!\O_\ $T?V;G'_ $4>=_\ AIR?_P"3#VF%_P"A'D__ (=,W_\
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M^;JOT&^R?[ _[Y?_ .)H^R?[ _[Y?_XFC^S<X_Z*/.__  TY/_\ )A[3"_\
M0CR?_P .F;__ "!^?/\ PW?JW_1D?[>O_AE-,_\ FZH_X;OU;_HR/]O7_P ,
MIIG_ ,W5?H-]D_V!_P!\O_\ $T?9/]@?]\O_ /$T?V;G'_11YW_X:<G_ /DP
M]IA?^A'D_P#X=,W_ /D#\^A^W=JO?]B3]O8?3X):8W_N^KC]:4?MXZD@);]B
M3]O8^G_%B=%GQC/_ #V^(2;,^JYS_%C S^@OV8#JK#/]V.1OSP!CV]>:<L
M(&_G&<PR=L],CW-1++L_NU#B3.^3HO[)R?Y_;3W\SIA4I<BY<LP=-:VC2KU*
ML%J_AJ8B/M97>KYUHVU'W4F?)/P7_:>O/C'XSE\-M^SA^TU\*HK+1KW6'UWX
MO?"[1/!VA7QMY[.W32++5(O$VMQR:A/]I:9;0O:7,L=L7A6>*.Z>U*^MX;1$
MD\U00RX/*,N>O3<.?P_PHKV<%2Q-+#PIXK$5\97BY<^(Q%&C0K5+R;CSTL.Y
M48\D'&$>1N\8J4O>;1E-J4FU3C23M^[BTXQT6S22UW>F[-&BBBO2("BBB@ H
MHHH **** "BBB@ HHHH **** "BBB@".0A5+;2[*"54 ECT!P!SZ9X_7%5#?
MP",-)E2Q("]\AXXR/7/F2Q1X_OR(IY< R76X[0C*'V2MMW)YI1?+#E(VM;II
M "RA@JC!9 =Q9<?F'^V+IW[*OCSQ9\*/!?QB^'6C_'OQU<W6JZSX'^$'BCQ9
MX?TCP=H>@:J(;+Q'\8/'WA_Q/-I?A4^%M.LM*N?"FB^*+SP]XP\7Q7_B+5M"
M^&.DOJFL:]>6 !^F@U.S8LJS*'BF6WECWKO2>0(T<#KG<LSJZ%(B [!U*J0R
MY1M7L =IF56;S JL55G,+M',$!;+>3(K1R@ ^7("CX((K\<-)^&OPG\8GX8_
M O\ :9\6^"/&/PZT#X>:YJ7PT^'-G\4?%6H_!;XB:EIWQ \?^'M?^&_C7Q)K
M]U'+\?;/X(?#:[^"GA;P[X>^+4M^VHZK%+X_U+P!>>//!%AXJ^$/H7PQM%^(
MO[._[7_P^U#Q-XGU+]F[1/%?Q"^'7P+^(>OW6GZWK'BOX"Z/\(?A^/$NHZ[X
ME^)>G^(],\3^'?#7Q9'Q@^%/AGQQXMTGQ!XEU[X>>#O#OB;3;G4["&Q\>Z\
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M9P27%U=P6T43PQ.UU/% OFW%W'80QAIG"^9)?2Q6<:?>>ZFCMU!F=4/\[_\
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M[X/6_P /_$>H'Q'X2U"2YO)O@UH7A3Q1X.^-\WB'6?"7C/P3XFU?XH^/=&D
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M^-7P-^*]O\.?BYK9\,_"/]N.\C\7Z0?V7]'^)?CGP;=?M*:;X6L-6^&WQ/\
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M%/K6LZ%I_B:[OUTJPO-4TTZ=J%[/9V^H6.GB3[!#*D>M:D)QH&R6[MA"&N9
M >_G5]/2:2VEO+07$4;2R6YN(!-%$BP.\DD182)&J75JS.RA0MQ Q($L99DN
MLZ=#<_9&N(!>*%WV@FC^TJ)9+:&,O!N\U0\UY9QQEDP\EU;HI+SQ!_YWOA'^
MR/\ LDM_P3T_9P^*7_"C?@OK?CKXJ>&_V)5\77FNW=OX6\&_$WQ%J'Q;^'%Q
MJ3^.+JST[7?"FH^(KC3/$?BE8M;U'0_$FJ0VMWJ-K/;6"V]Q'<>O?#?]F_\
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M,BR2^68XV;.%=_/BV(<%_-CV@[US.+^V?9M<N7#%53EB$SO.T-GY<-N/.-K
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M%?L<ZAHEST^'7A)/!Q\$1>%]&C\'G1'\-0>#+;1X+?PA#H3Z5+HLF@P^'/\
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M[UVOIUNKU=V3X"^*FM?&ZZUGX:_$+]D3XX_"/P/KG@F?S)_CS'\"=<\&>,+
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ME\9MJ_B?PNWAC3=9N(0#I/'GQ"^'>A^$?A;JVD>#'^*OPX^(GQ)^%VA:/?\
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M_&.J?"/5O#SZ'I6G^*[[QIJ.@-%X5\3:/?Z;XJUC4WTJ6XM=1MH)[=[:V\.
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MWQ2T'3O#/P5^!?@SP;9Z7:_&V#Q!K.A6>FZ!X*GBMOBSKYBEBTOX>>&K#Q$
M<'KG[9?@.+4M&^*>H_LM?M,^._@_X+U?Q!I'AW]I_P #_ #2_B'X8TR6X>XT
M#QUXJ\%>"]+\6:E^V'K7P[\1W5I8>'YOB-X7_9TUKPEXIL;^X\:Z!XQ^)OP6
MU2Q^(&F=?\7OC-\,_"WQQC\&^"?V6?B/^TA\=_!?A*'7_%&H_!?P%\(HW^$G
M@G4KFZT>PMM=^+OQO^)/P=\#V>N^(X[R\T;PQ\+?#/Q*\0?%";PZL][8_#C2
M/!4NIZI=;.AZ-^V?X)^&?AWX7^"OAC\$UUCPAX3TOP9IGQ#UWX@:W%X0E@T/
MP^NBZ9XAA^'FB^";;Q+:ZS<6;6UM>>'I/&5_I=E=:?\ V1!\1;K1[O4/%DO5
M7?A;]HSX<?$#XGZKX&\"^$OBCX \?:EHGBZQEU7XDZEX-^)FE>,]-^'GAOX?
MZJ)=-O/#&M_#^?0M9L_!'A;5=#ETR3PD^A:E+XCT6^T"#0-3M[RT /-/%/[9
M7P0U&^^ _@/Q=\/_ ![KNA_M*?%'Q_\ !C4M.O=#\.WEC\)/BIX4T36_%NK>
M"?CKH%QXSME\,3:S>Z#?^&]&\2:%8>/O!?BSQ1XE\(ZCX>\2_P#"%^-O!>JZ
M_P"D^*?C5\-M1_:"\/\ [&>M>![[Q/KOC;X'^+?C;K#7OAWPAJGPN3PWX6\:
M>"/!E]IVM7>ORRR-?R>(/&?A_5;:";P7J\EZ83<W5SI\MGJUJWR%\5_V!OBM
M\9/B=X4\4>+XK?2]/^(GQW^+_P 7OC3K?P]^(>JZ!XG^%&GZC^QRG[*OP='P
MJO+JUMY=8^)NDG2O!WQ'U3QM:2:%9^%?%^DZG;:+'XBTAA9WWIWP2_9 ^-G@
M']ISP!^T1\0=2\'>+O%6L?"G]J'3OCSXLT"_UK0;RX^(/QD\=?LBW?PZT3P%
MH\ZWT]QX \#_  P_9ATOPGJT^O:G<ZKJVL%-:L;33!?W>DQ 'W5XX\(>$=0\
M*6UKJW@'2O&VEZ++%JND^$;JPTC5+.34=)L'BT:Q\,6/B&ZATK1]9N+6.V'A
MH_VGH=E'>B*"YOM)FOY'N?S>_:&_;H_9G\/_  6_98^-'CC]F[XI?'OP;^T[
MXB\):/X'\(^&OA9\*_&GBOX-^(/B!%#J O?B_P"'O%OQ(LM%^%FB^"KF-_"?
MQ0\66-U/X?\  ?Q"\+2:7X]UM=9?3[>/]9=0M;IXX)8X)9[J&:>0&-8E:*)X
MYD9X"+FP=FC@D^QVL$MY N;F2XGAN# /+_/WP7^RGXRT;XH_'SPUKOA?P?9?
MLW:[X?\ '.C?!:U\(ZD8/%)OOVE]6_X2S]I.W\8:%=Z5_P (CX<\.1^(?"WA
MV\\&WOA[2[S4[>7Q-XA6ZL=8D2WA4 D^-O[9'@C]E34?"OP[L/@E\7OB5=H/
M@EH6E^'/@%H_PKL-(\,P_&GXBW'P8^#=C-9^//BQX)\.:-%XD\;Z;+X<4:CJ
M,QLM-7[0;BVCL"KNU7]KWXA6WA_7+OQW^P+^UIH.C2V>CZ7H_A?Q)J_[%NL7
M'Q'\4>*OB7\-OA'H7@31)O!_[3OB+X>V.I:KJOQ)D>[MOBQXJ\&Z9)X8\*:A
MJ^C3W\UI=_9?GWQ)^R_^UY\0_P!FS2K3XD>%OA_K'[2'B3X^_L:_$'XGW7AG
MXF^*O!FF:IX/_99\7?!GQ7K(\-_$BWT_5/'GAO5?%ES\._&FJ>%]-,UQ_P (
MQKGCO6&G\27<U]'>OZ;KOP"^)NH_#?QY\,[3]F9-0TCQ]XZ\#?%OQA#\1/VG
MM8^+$'CW6? 7C[]GM/$'@SQ%XD^(=KK?BS2K+Q[\./!>L1Z-9V0\0^%$UGP.
M\VLQ^%'UW3FUT AN/VC_ -G*WLG^$_[2W[-^N_LTZ#X8^'7Q ^-7AGP=^T-\
M/_A%J_PRU[X3_!./1[;XN^-/#$OP@^*WQJ^'?@N'P#;?$;1!K/AKXBOX3\>:
MO9ZW!_PB/A/Q9:Z'<RZ)S?@77/@'X@\>^'O".L_\$TO'O@!?B)H>OZAX ^)G
MBS]FC]GG_A#/%MAX7\,6?B#PWHWB^'P)XY\;>(?@AJ7B'P:VIZQX:7]H/P3\
M#WTR?2Y/ ^L'2O'$MCX3\3YNL_L4^/TO+'4OV=OV;/V<?V9=0TJ+Q=IWB72M
M2UR3Q!\-/CEX,\5?"OXD>"+7X8_$KX?^"O#&G:=/X7TKQ1XPT3QGJ=Z\']IR
MQ^$G\&^'[JTTOXD>)]>\/?1OPR^$7QATKQ3X.U2;P-JWPYT?PH\Y\0Z1??M7
M?%KXS:!K6G3^ _%^E0>'/!?ACQEI=]H-CI-GXLU?P_J+>);K1O!_BVWBT)X=
M/T:YTJ]L].T8 ^$_!7[9/P@T?X4Z#\??!?\ P3(_:+\-_#'XXZ[^SIX1L;_P
M_P##[]AO0D\6:G\1/B=X7\#_  'M?%&FR?M(Z-8WT=S\0OBAX=_X1>]TKP[<
M:+X=N=:T_4?$_B_3-8TG6='\(_4ND?MA>(--UN'PQIG_  3\_:W3Q1XM\-:Y
M\2=6\.:1)^QOX:U?3&TOQWK/PFO[?Q'+XD_;#\/PZQXJU^'PK'XCTK5=#U3Q
M'H>I^"=<\._8/&GB :!<P:%QWAS]EG]I2P_81_91^ -WX>\$67Q'^$WQ<_8^
MU_X@VA\=WNH:'9>!OV=_VJ?AQ\;/%,OA[71X/OY-3U;6_#OPOT^YTV#^R9KS
M4-3UAM+NKK2#I=L]SZU\?_@G\6_'OQPM?%=M\-M6\=_#^7X$77PVN$\/_M'^
M.OV>]:FUK7/&E]K6L6&L2_#G4-(U>YT!- L_#\7VA]5U)+F]>^ABTC3)!.VH
M '9?#F_^&OQ,\$^&O!'CWX$Z9\&=1UG5?B5XKT7]GCX[:1\,K[Q;:R>#?B#J
MVCZWX]T/PCX6\:>/_#$>DPW/BO2_$NG>)/!'B#Q/IFC67C6PLK^YTRZ\1>&G
MO?(OB_\ M9?!.S_9O\:_$GQE^SU\1_&7@_P!\;D^!'BGX-1?#[X.>(/B!I>M
M^&?BK8?#NVO9/ /BWQKIWAS4/!WB&&#P_P#$NUOKOQ#'>6'P2OK#XHWNEZ/H
MVAR7L_T9\+=#^(FG7/PHM-4_9X\+^$=&\)^&?&7A6WU35OBM'XQ\6_#NVT&;
M1O#O@2RT2]'@/4-2\4:1X[\.Z:;KQ1K=YXIT+6M%U"&PNM5TCQT;V;4O!_GG
MC7]FCQ;XJ_:#O=8'ACP2OP*\:^&4\2?$NUMW73O%/B;XS6?PO\:? >WUK4/#
M261\'ZC+J'PA\7Z5X2U[Q3J_]MZN^@?"_P"$OAVT;4] \*W%A( )\8/C[\*O
MAYXX^$/[,'CWX:ZKXRT[XMVVC>%KNYT/PYX4F^!/P\FU2;6/^%9Z?\3['Q)X
MWTRYT'1_B1XC\'^)O"GPJU"V\*>(['Q-XHT:/2=1N;6^C\,Q>(,#P!^UC\&?
M$'QU_:/^&DGPE^('@/6/V)O _A_4]<^(WC+3/!?ASX,ZWX2\=Z%I'CF2[^#V
ML0>-;UM4L-$T;PO8Z3XVN=1\!^&=<^'6I:#;>&O%=U:ZQKFB0:AA?#S]EGXS
M7_P'^,.D_&S2_ WB'X^>*M/\+>'O"_CL:J/%.KZDGP)\.^&A^SCXQUKXD:KX
M<T+QK;:CX#^,MEXC^/\ X:-Q!<>*O OCG6F\1Z)K,GBAM9DUUFN_LU_'CQ9X
M+^"EEKWA/X5WNH^+O$/C./\ :V\):IXBUR?P;=^!OC'\5M"^-?Q9\+>'M&M]
M$NK7QE8W>M>&;7X::?8^*=1N].U+X>^(_$&F>)/[:LKDW&E@&=JG[6OPB^*/
M[,7QH^-_C[]FCXO7'A?X+^&/"WQ,\3?!+XL?"OX9W_Q>\>:?<? _P?\ ''P_
M?_#WX6ZEX_N--\1ZY<^'_&C^$=(T2X\2:;K-M\4/!GCSX5^'(X?$VAWMB?;K
MKXC?"7XF:=\ O"/BCX:_\)1#\>/#+_$WPCX!\6:+\.O%6E^!-$\,>$-+\87%
M[XQTG4O$\_ARS'AR/Q-X=\,'6/!FG^+;?2?&>J60.OW5MK=E-/1^+/P:^.6I
M?'/X8ZIX!M?!%U\'?$!\%0?'Z[UW6-7TSQYIH^ GBZ^^*_P2D^&%EH.BQ:(+
M'4_&FK:YIOQ%L]3N;6VN-,N-/N?"UCHNK7&H2P\C\#O@;\=/AEJ?Q;\0>)_!
M_@WQ=J/@C0/&GP\_9.MH?&^H:9JT_P *-0\=^.O'NC^$/$WB>Y\-ZK'\*[;Q
M#;R?!GP9XGN/!MAJLUHOPD\(7]GH<FD>%?#]I8 &Q\<_C=\*O"7P/^/FL_$+
MX(>)?B%X._9KUFYTGQ9\*AX=^&7B*_\ '%EHFC^!-8TF[^'G@;Q'XTT_P%XJ
M77/#OCG3AX+\(^(-?T/QYXENXKOP_P"&-$U+QY;6&E3=!>?M ^"OAOH?P!T_
M1OA1XR.E?%S1?#+Z8/"M[\(;_0OA?X8UWQ#\,=*L?$7C^\\*?&&S\#WNA:5X
M[^,G@WP?)!\(;WQYI[2:CKFN>%9KGX76.I:Y'RWQD_9:^(?Q$_:5^&_C+3M3
M1?@/J.K>%O%_QR^']UXAE6Q\2>/?@)%XPNO@)KJ>&;GP_<Z+JPUK7/'6E^)/
MB1J6O#5]:DU']G;]G+3[.[-GX.>TD\^^%G[%/Q'70/CWX#^*FIQ^'? LWAT_
ML]_LNK\)/%MU8:Q\(OV>=%NM<UGPIXH\$V]UX>L;'X4?&&'7_&44G]L> Y=/
M-KI/P1_9^LWU6.Y^&>GW5P >V>"/C'\/6_:F^+G[.WA7X7ZKHOC_ ,+^"?A]
M\4/%_P 31'\,=/\ "OC$^(K^[TW3= DD\.>+O$?Q=\0?$7P[%#'_ ,)CI_B?
MP)96/ACPQJOA+7SKOAW1_'?PQN?&/E-I\<?@QX/E\&>,_A5^RO\ $+Q/\;?V
M@/ FH?$M/!'PG^'_ ,!-)^*FH_#*;Q%#<77C#XF_%;4?'G@?X"^%[?Q+KNJZ
M#XH\.:5X]^-NG^(/&'BG6]<71]'\07?AOQW9^$_'=4_8Q_:C\8?"CX<^/-8N
M?!OP]_;1\3^*/%]G^T1XV^#GCWQ'X.TC2? GQF\':)\+?BG%\'O%2>&CXQMY
MO"?@SP!\)O&OP@\/:]XDU#3_  O\5O '@7Q#?:SX@D^&^CV]U]K>(O _Q?\
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M "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
M**** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ H
MHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BB
0B@ HHHH **** "BBB@#_V0$!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
