<SEC-DOCUMENT>0001213900-18-014928.txt : 20181106
<SEC-HEADER>0001213900-18-014928.hdr.sgml : 20181106
<ACCEPTANCE-DATETIME>20181105215947
ACCESSION NUMBER:		0001213900-18-014928
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20181101
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20181106
DATE AS OF CHANGE:		20181105

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Stellar Acquisition III Inc.
		CENTRAL INDEX KEY:			0001665300
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			1T
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-37862
		FILM NUMBER:		181161361

	BUSINESS ADDRESS:	
		STREET 1:		90 KIFISSIAS AVENUE
		CITY:			MAROUSSI, ATHENS
		STATE:			J3
		ZIP:			15125
		BUSINESS PHONE:		302108764858

	MAIL ADDRESS:	
		STREET 1:		90 KIFISSIAS AVENUE
		CITY:			MAROUSSI, ATHENS
		STATE:			J3
		ZIP:			15125
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>f8k110118_stellaracquisition.htm
<DESCRIPTION>CURRRENT REPORT
<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: 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

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

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

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



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

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid; width: 20%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 8-K</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Pursuant to Section 13 or Section 15(d)
of the Securities Exchange Act of 1934</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Date of Report (Date of earliest event reported):
November 1, 2018</P>

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

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



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



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

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid; width: 20%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>STELLAR ACQUISITION III INC.</B></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin: 1pt 143.9pt"><DIV STYLE="font-size: 1pt; border-top: black 1.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; border-bottom: black 1.5pt solid; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Republic
    of the Marshall Islands</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: black 1.5pt solid; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>001-37862</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; border-bottom: black 1.5pt solid; padding-right: 0.8pt; 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="padding-right: 0.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State
    or other jurisdiction of</FONT><BR>
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">incorporation or organization)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Commission
    File Number)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(I.R.S.
    Employer</FONT><BR>
    <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Identification Number)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 67%; border-bottom: black 1.5pt solid; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>90
    Kifissias Avenue, Maroussi Athens, Greece</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 33%; border-bottom: black 1.5pt solid; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>15125</B></FONT></TD></TR>
<TR>
    <TD STYLE="padding-right: 0.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Address
    of principal executive offices)</FONT></TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Zip
    Code)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Registrant&rsquo;s telephone number, including
area code:&nbsp;&nbsp; <B>+30 210 876-4858</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Not Applicable</B></P>



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

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid; width: 20%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Former name or former address, if changed
since last report)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Check the appropriate box below if the Form&nbsp;8-K
filing is intended to simultaneously satisfy the filing obligation to the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 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: 3%; padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</FONT></TD>
    <TD STYLE="width: 97%; padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Written
    communications pursuant to Rule&nbsp;425 under the Securities Act (17&nbsp;CFR&nbsp;230.425)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 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: 3%; padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="width: 97%; padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Soliciting
    material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17&nbsp;CFR&nbsp;240.14a-12)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 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: 3%; padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="width: 97%; padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pre-commencement
    communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17&nbsp;CFR&nbsp;240.14d-2(b))</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 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: 3%; padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="width: 97%; padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pre-commencement
    communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17&nbsp;CFR&nbsp;240.13e-4(c))</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&sect;230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (&sect;240.12b-2 of this chapter).&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Emerging growth company &#9746;&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">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 13(a) of the Exchange Act.&nbsp;&#9744;</P>

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

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo --><!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; margin-left: 0pt; text-indent: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-left: 0pt; text-indent: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item
1.01 Entry Into A Material Definitive Agreement.</B></FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; background-color: white"><FONT STYLE="color: Black"><U>Amendment
to Agreement and Plan of Merger</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: Black">As
previously disclosed by Stellar Acquisition III Inc., a Republic of the Marshall Islands corporation (together with its successors,
&ldquo;<B>Stellar</B>&rdquo;), in its Current Report on Form 8-K that was filed with the Securities and Exchange Commission (the
&ldquo;<B>SEC</B>&rdquo;) on February 28, 2018, on February 27, 2018, Stellar entered into an Agreement and Plan of Merger (the
&ldquo;<B>Merger Agreement</B>&rdquo;<B>)</B>, by and among <FONT STYLE="background-color: white">Stellar, STLR Merger Subsidiary
Inc., a Delaware corporation and a wholly-owned subsidiary of Stellar (&ldquo;<B>Merger Sub</B>&rdquo;), and Phunware, Inc., a
Delaware corporation (&ldquo;<B>Phunware</B>&rdquo;), pursuant to which Merger Sub will merge with and into Phunware (the &ldquo;<B>Merger</B>&rdquo;),
with Phunware continuing as the surviving corporation in the Merger.</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: Black; background-color: white">On
November 1, 2018, Stellar, Merger Sub and Phunware entered into a First Amendment to Agreement and Plan of Merger (the &ldquo;<B>Amendment</B>&rdquo;),
pursuant to which the Merger Agreement was amended to, among other things, reduce the minimum cash asset level that Stellar is
required to maintain at the consummation of the closing of the transactions contemplated by the Merger Agreement (the &ldquo;<B>Closing</B>&rdquo;)
from $40,000,000 to $19,000,000. The minimum cash asset level, as amended by the Amendment, is determined by including funds in
or released from Stellar&rsquo;s trust account and proceeds of any backstop financing</FONT> <FONT STYLE="color: Black">that Stellar
obtains while <FONT STYLE="background-color: white">excluding any cash, cash equivalents and other assets of Phunware and its
subsidiaries, any funds required for the redemption of Stellar&rsquo;s public stockholders, and any funds necessary to pay Stellar&rsquo;s
transaction expenses, indebtedness and other liabilities (other than for the note to pay for the Transferred Sponsor Warrants,
as described below, and any commitment fees on forward purchase contracts in excess of the amounts required to be paid by Stellar&rsquo;s
sponsors, as described below).</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in; color: #333333"><FONT STYLE="color: Black; background-color: white">The
Amendment also revised the Merger consideration that the stockholders of Phunware are entitled to receive under the Merger Agreement
so that it is fixed at exactly $301,000,000. Prior to the Amendment, the base Merger consideration of $301,000,000 was subject
to adjustment for the cash and cash equivalents, net of indebtedness, of Phunware and its subsidiaries as of the date of the Closing.
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in; color: #333333"><FONT STYLE="color: Black; background-color: white">The
Amendment also provides that prior to the Closing either Stellar or Phunware may arrange one or more forward purchase contracts
with one or more investors to purchase Stellar&rsquo;s equity securities, provided that the obligations of the parties under any
such forward purchase contracts shall be subject to the consummation of the Closing and, with respect to any forward purchase
contract arranged by Stellar, Phunware&rsquo;s consent, and Stellar&rsquo;s sponsors (the &ldquo;<B>Sponsors</B>&rdquo;) will
agree to pay for the commitment fees for any such forward purchase contract, up to a maximum of $600,000, by delivering their
founder shares as payment.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: Black; background-color: white">The
Amendment also increased the aggregate number of private </FONT><FONT STYLE="color: Black">warrants to purchase shares of Stellar
common stock that are currently held by the Sponsors (the &ldquo;<B>Transferred Sponsor Warrants</B>&rdquo;) that Stellar&rsquo;s
stockholders may elect to receive as Merger consideration (in lieu of receiving shares of Stellar common stock) from 929,890 to
up to an aggregate of 3,985,244, but in no event less than 2,450,000. Prior to the effective time of the Merger, Stellar shall
purchase from the Sponsors a number of Transferred Sponsor Warrants equal to the greater of (A) 2,450,000 and (B) the total number
of Transferred Sponsor Warrants that the holders of Phunware stock elect to receive. As consideration for the transfer of the
Transferred Sponsor Warrants Stellar shall issue to the Sponsors unsecured promissory notes (each, a &ldquo;<B>Transferred Sponsor
Warrant Note</B>&rdquo;) in an initial aggregate principal amount equal to (x) fifty cents ($0.50) multiplied by the total number
of Transferred Sponsor Warrants purchased by Stellar. $1,225,000 of the aggregate principal amount of the Transferred Sponsor
Warrant Notes will be repaid at the Closing and the remaining balance will accrue interest at the lowest applicable federal rate
and shall be payable in full on the first anniversary of the date of the Closing. At any time prior to one business day before
the Closing the Sponsors have the right to convert all or a part of the outstanding balance of the Transferred Sponsor Warrant
Note in excess of $1,225,000 into shares of Stellar common stock effective upon the Closing. The Stellar common stock that the
Sponsors receive on conversion of the Transferred Sponsor Warrant Note will not be subject to lock-ups or other transfer restriction
and will be considered registrable securities under Stellar&rsquo;s registration rights agreement with the Sponsors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: Black">The
Amendment also changed the appointment to the classes of Stellar&rsquo;s post-closing board that are made by Stellar prior
to closing so that instead of both directors designated by Stellar prior to the Closing serving as Class III directors, the
longest serving class before reelection, one director will serve as a Class III director and the other will serve as a Class
I director, the shortest serving class before reelection.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in; color: #333333"><FONT STYLE="color: Black; background-color: white">The
foregoing description of the Amendment does not purport to be complete and is subject to and qualified in its entirety by reference
to the Amendment, which is filed as Exhibit 2.1 to this Current Report on Form 8-K and is incorporated herein by reference.</FONT></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in; color: #333333"><FONT STYLE="color: Black; background-color: white"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="color: Black"><U>Additional Information</U></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: Black">In
connection with the proposed transaction, Stellar has filed a Registration Statement on Form S-4, which includes a preliminary
proxy statement/prospectus of Stellar. Stellar will mail a definitive proxy statement/prospectus and other relevant documents
to its shareholders. &nbsp;<B>Investors and security holders of Stellar are advised to read, when available, the preliminary proxy
statement, and amendments thereto, and the definitive proxy statement in connection with Stellar&rsquo;s solicitation of proxies
for its special meeting of shareholders to be held to approve the proposed transaction because the proxy statement/prospectus
will contain important information about the proposed transaction and the parties to the proposed transaction. The definitive
proxy statement/prospectus will be mailed to shareholders of Stellar as of a record date to be established for voting on the proposed
transaction. Shareholders will also be able to obtain copies of the Registration Statement and proxy statement/prospectus, without
charge, once available, at the <FONT STYLE="background-color: white">SEC&rsquo;s&nbsp;</FONT>website at www.sec.gov or by directing
a request to: Stellar Acquisition III Inc., 90 Kifissias Avenue, Maroussi Athens, Greece.</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="color: Black"><U>Participants
in the Solicitation</U></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: Black">Stellar
and Phunware and their respective directors, executive officers, other members of management, and employees, under SEC rules,
may be deemed to be participants in the solicitation of proxies of Stellar&rsquo;s shareholders in connection with the proposed
transaction.&nbsp; <B>Investors and security holders may obtain more detailed information regarding the names and interests in
the proposed transaction of Stellar&rsquo;s directors and officers in Stellar&rsquo;s filings with the SEC, including Stellar&rsquo;s
Registration Statement, which was filed with the SEC on August 18, 2016 and Stellar&rsquo;s Annual Report on Form 10-K for the
year-ended November 30, 2017, which was filed with the SEC on February 2, 2018, and such information will also be in the Registration
Statement to be filed with the SEC, which will include the proxy statement/prospectus of Stellar for the proposed transaction.</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="color: Black"><U>Forward Looking Statements</U></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: Black; background-color: white">Certain
statements made herein are not historical facts but are forward-looking statements for purposes of the safe harbor provisions
under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such
as &ldquo;may&rdquo;, &ldquo;should&rdquo;, &ldquo;would&rdquo;, &ldquo;plan&rdquo;, &ldquo;intend&rdquo;, &ldquo;anticipate&rdquo;,
&ldquo;believe&rdquo;, &ldquo;estimate&rdquo;, &ldquo;predict&rdquo;, &ldquo;potential&rdquo;, &ldquo;seem&rdquo;, &ldquo;seek&rdquo;,
&ldquo;continue&rdquo;, &ldquo;future&rdquo;, &ldquo;will&rdquo;, &ldquo;expect&rdquo;, &ldquo;outlook&rdquo; or other similar
words, phrases or expressions. These forward-looking statements include statements regarding Stellar&rsquo;s and Phunware&rsquo;s
industry, future events, the proposed transaction between the parties to the Merger Agreement, the estimated or anticipated future
results and benefits of the combined company following the transaction, including the likelihood and ability of the parties to
successfully consummate the proposed transaction, future opportunities for the combined company, and other statements that are
not historical facts. These statements are based on the current expectations of Stellar&rsquo;s management and are not predictions
of actual performance. These statements are subject to a number of risks and uncertainties regarding the businesses of Stellar
and Phunware and the transaction, and actual results may differ materially. These risks and uncertainties include, but are not
limited to, changes in the business environment in which Stellar or Phunware operates, including inflation and interest rates,
and general financial, economic, regulatory and political conditions affecting the industry in which Stellar or Phunware operates;
changes in taxes, governmental laws, and regulations; competitive product and pricing activity; difficulties of managing growth
profitably; the loss of one or more members of Stellar&rsquo;s or Phunware&rsquo;s management teams; the inability of the parties
to successfully or timely consummate the proposed transaction, including the risk that any required regulatory approvals are not
obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected
benefits of the transaction or that the approval of the shareholders of Stellar or Phunware are not obtained; failure to realize
the anticipated benefits of the transaction, including as a result of a delay in consummating the transaction or a delay or difficulty
in integrating the businesses of Stellar and Phunware; uncertainty as to the long-term value of Stellar&rsquo;s common stock;
those discussed in the Stellar&rsquo;s Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q and other documents of Stellar
on file with the SEC or in the registration statement filed with the SEC by Stellar in connection with the shareholder meeting
to approve the proposed merger. There may be additional risks that Stellar presently does not know or that Stellar currently believes
are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition,
forward-looking statements provide Stellar&rsquo;s expectations, plans or forecasts of future events and views as of the date
of this communication. Stellar anticipates that subsequent events and developments will cause Stellar&rsquo;s assessments to change.
However, while Stellar may elect to update these forward-looking statements at some point in the future, Stellar specifically
disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Stellar&rsquo;s
assessments as of any date subsequent to the date of this communication.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="color: Black"><B>Item 9.01 Financial Statements and
Exhibits.</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: Black">(d)
Exhibits</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: Black"></FONT></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 STYLE="width: 12%; border-bottom: Black 1pt solid"><B>Exhibit No. <FONT STYLE="color: Black">&nbsp;</FONT></B></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="width: 87%; border-bottom: Black 1pt solid"><B>Description</B></TD></TR>
<TR STYLE="vertical-align: top; text-align: left; background-color: rgb(204,238,255)">
    <TD><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; color: Black">2.1</FONT> <FONT STYLE="color: Black"></FONT></P>
</TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="f8k110118ex2-1_stellaracq.htm">First Amendment to Agreement and Plan of Merger, dated as of November 1, 2018, by and among Stellar, Merger Sub and Phunware.</A></TD></TR>
</TABLE>

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

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

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>SIGNATURE</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Dated: November 6, 2018</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; 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-right: 0.8pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 1.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">STELLAR ACQUISITION
    III INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 59%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 5%; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="width: 36%; padding-right: 0.8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid; padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/&nbsp;Prokopios
    (Akis) Tsirigakis</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Name: Prokopios
    (Akis) Tsirigakis</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Title: co-Chief Executive Officer</FONT></TD></TR>
</TABLE>



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

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

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></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 STYLE="width: 12%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Exhibit
    No. <FONT STYLE="color: Black">&nbsp;</FONT></B></FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="width: 87%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Description</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left; background-color: rgb(204,238,255)">
    <TD><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; color: Black">2.1</FONT></P>
</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="f8k110118ex2-1_stellaracq.htm">First Amendment to Agreement and Plan of Merger, dated as of November 1, 2018, by and among Stellar, Merger Sub and Phunware.</A></FONT></TD></TR>
</TABLE>

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

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

<!-- Field: Page; Sequence: 5; Options: Last -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>



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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-2.1
<SEQUENCE>2
<FILENAME>f8k110118ex2-1_stellaracq.htm
<DESCRIPTION>FIRST AMENDMENT TO AGREEMENT AND PLAN OF MERGER, DATED AS OF NOVEMBER 1, 2018, BY AND AMONG STELLAR, MERGER SUB AND PHUNWARE
<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; text-align: right"><B>Exhibit 2.1</B></P>

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



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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: small-caps 10pt Times New Roman, Times, Serif"><B><U>FIRST
AMENDMENT TO AGREEMENT AND PLAN OF MERGER</U></B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">This
First Amendment (this &ldquo;<B><I>First Amendment</I></B>&rdquo;) to Agreement and Plan of Merger is made and entered into effective
as of November 1, 2018, by and among (i) <B>Stellar Acquisition III Inc.</B>, a Republic of Marshall Islands corporation (together
with its successors, including the Successor (as defined in the Merger Agreement (defined below)), the &ldquo;<B><I>Purchaser</I></B>&rdquo;),
(ii) <B>STLR Merger Subsidiary Inc.</B>, a Delaware corporation and a wholly-owned subsidiary of the Purchaser (&ldquo;<B><I>Merger
Sub</I></B>&rdquo;), and (iii) <B>Phunware, Inc.</B>, a Delaware corporation (the &ldquo;<B><I>Company</I></B>&rdquo;). Capitalized
terms used but not otherwise defined herein shall have the respective meanings assigned to such terms in the Merger Agreement.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>WHEREAS</B>,
the Purchaser, Merger Sub and the Company are parties to that certain Agreement and Plan of Merger made and entered into as of
February 27, 2018 (the &ldquo;<B><I>Original Agreement</I></B>&rdquo;); and</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>WHEREAS</B>,
the Purchaser, Merger Sub and the Company desire to amend the Original Agreement on the terms and conditions set forth herein
(as amended, including by this First Amendment, the &ldquo;<B><I>Merger Agreement</I></B>&rdquo;).</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>NOW,
THEREFORE</B>, in consideration of the foregoing and the respective representations, warranties, covenants and agreements set
forth below and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and in
accordance with the terms of the Merger Agreement, the parties hereto, intending to be legally bound, do hereby agree as follows:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.
<U>Amendment Regarding Time for Token Generation Event</U>. Section 5.20 of the Merger Agreement is hereby amended to change the
phrase &ldquo;on or prior to June 30, 2018&rdquo; in the first sentence thereof to &ldquo;as promptly as reasonably practicable
after the date hereof&rdquo;.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.
<U>Amendment to Merger Consideration to Remove Adjustment for Closing Net Cash</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(a)
Section 1.9 of the Merger Agreement is hereby amended to delete the phrase &ldquo;equal to (a) Three Hundred and One Million U.S.
Dollars ($301,000,000), plus (b) the amount of Closing Net Cash (the &ldquo;<B><I>Merger Consideration</I></B>&rdquo;)&rdquo;
beginning on the third line thereof and replace it with the following &ldquo;equal to Three Hundred and One Million U.S. Dollars
($301,000,000) (the &ldquo;<B><I>Merger Consideration</I></B>&rdquo;)&rdquo;.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(b)
Section 10.1 of the Merger Agreement is hereby amended to delete the defined term &ldquo;Closing Net Cash&rdquo; in its entirety.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(c)
Section 1.13 of the Merger Agreement is hereby deleted in its entirety and replaced with the following: &ldquo;[RESERVED]&rdquo;.
Section 10.2 of the Merger Agreement is hereby amended to delete the term &ldquo;Closing Statement&rdquo; from the table.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.
<U>Amendment to Minimum Cash Asset Level Requirements</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(a)
Section 10.1 of the Merger Agreement is hereby amended to modify the definition of &ldquo;Backstop Financing&rdquo; to add the
following after the term &ldquo;Purchaser&rdquo; on the second line thereof: &ldquo;, including any convertible preferred securities
of Purchaser or any warrants, options or other rights exercisable for or convertible into equity securities of Purchaser,&rdquo;.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<!-- Field: Page; Sequence: 1; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt; font-size: 10pt; text-align: right"></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(b)
Section 5.19(a) of the Merger Agreement is hereby amended to delete the first sentence thereof and replace it with the following:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&ldquo;Purchaser
shall use its good faith efforts to maintain or obtain a minimum of $19,000,000 in cash and cash equivalents as of the Closing,
including funds in or released from the Trust Account and proceeds from any Backstop Financing, which such minimum amount shall
exclude, for the avoidance of doubt and without duplication, (A) any cash, cash equivalents or other assets of the Target Companies,
(B) any cash funds necessary to pay all of the Purchaser&rsquo;s unpaid Expenses, (C) any cash funds required to pay redeeming
Public Stockholders in the Redemption, and (D) any cash funds necessary to pay any Indebtedness and any other Liabilities of the
Purchaser that would be required to be listed as liabilities on a balance sheet prepared in accordance with GAAP, including any
Bridge Loans and any promissory notes issued by the Purchaser to the Company (other than (i) the Transferred Sponsor Warrant Note
issued in accordance with Section 1.10(f), which Transferred Sponsor Warrant Note shall be disregarded for purposes of such calculation,
and (ii) any commitment fees with respect to Forward Purchase Contracts in excess of the amounts contemplated to be paid by the
Sponsors in Section 7 of the First Amendment, which fees shall be disregarded for purposes of such calculation) (the &ldquo;<B><I>Minimum
Cash Asset Level</I></B>&rdquo;).&rdquo;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.
<U>Amendment Regarding Purchaser Directors</U>. Section 5.17(a) of the Merger Agreement is hereby amended to delete the sentence
&ldquo;The Purchaser Directors shall be Class III Directors.&rdquo; beginning on the seventh line from the bottom of such section,
and replace it with the following: &ldquo;One Purchaser Director shall be a Class III Director and the other Purchaser Director
shall be a Class I Director.&rdquo;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5.
<U>Amendment Regarding Merger Consideration Calculation for Options and Warrants</U>. Section 10.1 of the Merger Agreement is
hereby amended to:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(a)
Add the following defined terms:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&ldquo;<B><I>In-the-Money
Company Option</I></B>&rdquo; means a Company Option with an exercise price less than the Price Per Share.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&ldquo;<B><I>In-the-Money
Company Warrant</I></B>&rdquo; means a Company Warrant with an exercise price less than the Price Per Share.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(b)
Delete the definition of &ldquo;Adjusted Merger Consideration&rdquo; and replace it with the following:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&ldquo;<B><I>Adjusted
Merger Consideration</I></B>&rdquo; means an amount equal to the sum of (i) the Merger Consideration, plus (ii) the aggregate
amount of the exercise prices for all Company Stock under In-the-Money Company Options in accordance with their terms (and assuming
no cashless exercise), plus (iii) the aggregate amount of the exercise prices for all Company Stock under In-the-Money Company
Warrants in accordance with their terms (and assuming no cashless exercise).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(c)
Add the following at the end of the definition of &ldquo;Fully-Diluted Company Shares&rdquo; immediately prior to the sentence
at the end thereof: &ldquo; or any Company Options that are not In-the-Money Company Options or Company Warrants that are not
In-the-Money Company Warrants.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

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

<!-- Field: Page; Sequence: 2; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt; font-size: 10pt; text-align: right"></P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6.
<U>Forward Purchase Contracts</U>. The parties hereby agree that prior to the Closing either the Purchaser or the Company may
arrange for one or more forward purchase contracts (each, a &ldquo;<B><I>Forward Purchase Contract</I></B>&rdquo;) with one or
more investors (the &ldquo;<B><I>FPC Investors</I></B>&rdquo;) to purchase equity securities of the Company after the Closing
on such terms and conditions as determined by the arranging party, with, in the case of any Forward Purchase Contract arranged
by the Purchaser, the prior written approval of the Company; provided, that in any case, (i) any obligations by any party under
any Forward Purchase Contract will be subject to the consummation of the Closing and such Forward Purchase Contract being accepted
by the Company at or prior to the Closing, and (ii) the Sponsors will agree in writing with the Purchaser and the Company to pay,
by delivery of their founder shares (as such term is defined in the IPO Prospectus, including any replacement securities of the
Successor, &ldquo;<B><I>Founder Shares</I></B>&rdquo;), for any commitment fees under the Forward Purchase Contracts in accordance
with the terms and conditions of the Forward Purchase Contracts as arranged and accepted by the Company and the Purchaser, as
applicable, prior to the Closing, subject to a maximum of $600,000 with each Founder Share valued at the Redemption Price (and
with any excess amounts owed for commitment fees borne by the Purchaser), and the Company and the Purchaser will waive any lock-up
or transfer restrictions applicable to any Founder Shares transferred to the FPC Investors to pay such commitment fees.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">7.
<U>Amendment to Transferred Sponsor Warrants</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(a)
Section 1.10(f) of the Merger Agreement is hereby amended to replace the phrase &ldquo;of up to an aggregate of 929,890 Purchaser
Private Warrants&rdquo; in the third line thereof with &ldquo;of up to an aggregate of 3,985,244 Purchaser Private Warrants, but
in no event less than 2,450,000 Purchaser Private Warrants&rdquo;.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(b)
Section 1.10(f)(iii) of the Merger Agreement is hereby amended and restated in its entirety to read as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 1in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left; text-indent: 1.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&ldquo;(iii)
Prior to the Effective Time, Purchaser shall purchase from the Sponsors a number of Transferred Sponsor Warrants equal to the
greater of (A) 2,450,000 and (B) the aggregate number of Transferred Sponsor Warrants elected to be received by all holders of
Company Stock pursuant to Section 1.10(f)(i), and in consideration for such purchase shall issue to the Sponsors an unsecured
promissory note with the terms contemplated by this Section 1.10(f)(iii) and otherwise in form and substance reasonably acceptable
to the Purchaser and the Company (the &ldquo;<B><I>Transferred Sponsor Warrant Note</I></B>&rdquo;) with an initial principal
amount equal to (x) fifty cents ($0.50) multiplied by (y) the total number of purchased Transferred Sponsor Warrants. $1,225,000
of the obligations under the Transferred Sponsor Warrant Note shall be repaid in cash at the Closing, and any remaining principal
on the Transferred Sponsor Warrant Note shall be repayable at any time after the Closing at the election of the Company, shall
accrue simple interest from and after the Closing at the lowest applicable federal rate (as published by the IRS on the Closing
Date) and shall be due and payable in full on the first (1<SUP>st</SUP>) anniversary of the Closing Date. Notwithstanding the
foregoing, the Sponsors shall have the right, at their sole election at any time prior to one Business Day prior to the Closing,
to convert, in whole or in part, the outstanding obligations thereunder in excess of the $1,225,000 in principal to be repaid
at the Closing into shares of Purchaser Common Stock at the Redemption Price per share, with such conversion into shares of Purchaser
Common Stock to be effective upon the Closing, and with such shares (I) not subject to any lock-ups or other transfer restrictions
(other than those imposed by applicable securities Laws) and (II) being included as &ldquo;Registrable Securities&rdquo; under
the Registration Rights Agreement, dated as of August 18, 2016, by and among the Purchaser, the Sponsors and the other holders
named therein. Any Transferred Sponsor Warrants required to be purchased by the Purchaser under this Section 1.10(f)(iii) that
are not elected to be received by Company Stockholders pursuant to Section 1.10(f)(i) shall be retained by the Purchaser in treasury
and not issued as consideration in connection with the Closing.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

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

<!-- Field: Page; Sequence: 3; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt; font-size: 10pt; text-align: right"></P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8.
<U>Miscellaneous</U>. Except as expressly provided in this First Amendment, all of the terms and provisions in the Original Agreement
and the Ancillary Documents are and shall remain unchanged and in full force and effect, on the terms and subject to the conditions
set forth therein. This First Amendment does not constitute, directly or by implication, an amendment or waiver of any provision
of the Original Agreement or any Ancillary Document, or any other right, remedy, power or privilege of any party, except as expressly
set forth herein, it being agreed however that amendments to the Merger Agreement effected by this First Amendment shall be made
effective as of February 27, 2018, and any rights or claims for breach of the Merger Agreement related specifically to the provisions
thereof amended hereby are hereby waived by of all the parties. Any reference to the Merger Agreement in the Merger Agreement
or any other agreement, document, instrument or certificate entered into or issued in connection therewith shall hereinafter mean
the Original Agreement, as amended by this First Amendment (or as the Merger Agreement may be further amended or modified after
the date hereof in accordance with the terms thereof). The Original Agreement, as amended by this First Amendment, and the documents
or instruments attached hereto or thereto or referenced herein or therein, constitutes the entire agreement between the parties
with respect to the subject matter of the Merger Agreement, and supersedes all prior agreements and understandings, both oral
and written, between the parties with respect to its subject matter. If any provision of the Original Agreement is materially
different from or inconsistent with any provision of this First Amendment, the provision of this First Amendment shall control,
and the provision of the Original Agreement shall, to the extent of such difference or inconsistency, be disregarded, in each
case effective as of February 27, 2018. Sections 9.1 through 9.10, 9.12 and 9.13 of the Original Agreement are hereby incorporated
herein by reference as if fully set forth herein, and such provisions apply to this First Amendment as if all references to the
&ldquo;Agreement&rdquo; contained therein were instead references to this First Amendment.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>{The
remainder of this page is intentionally blank; the next page is the signature page.}</I></FONT></P>

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


<!-- Field: Page; Sequence: 4; Value: 1 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt; font-size: 10pt; text-align: right"></P></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>IN
WITNESS WHEREOF</B>, the parties hereto have executed this First Amendment to Agreement and Plan of Merger as of the date first
written above.</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I><U>The
    Purchaser:</U></I></FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>STELLAR
    ACQUISITION III INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 60%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 4%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 36%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/
    George Syllantavos</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name:
    George Syllantavos</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title:
    co-Chief Executive Officer</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I><U>Merger
    Sub:</U></I></FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>STLR
    MERGER SUBSIDIARY INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/
    George Syllantavos</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name:
    George Syllantavos</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title:
    Vice President</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I><U>The
    Company:</U></I></FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>PHUNWARE,
    INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By:</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1.5pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/
    Alan Knitowski</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name:
    Alan Knitowski</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title:
    Chief Executive Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><I>{Signature
Page to First Amendment to Agreement and Plan of Merger}</I></B></FONT></P>

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

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

<!-- Field: Page; Sequence: 5; Options: Last -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font-size: 10pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <!-- Field: /Page -->

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







</BODY>
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
