<SEC-DOCUMENT>0001615774-17-005948.txt : 20171027
<SEC-HEADER>0001615774-17-005948.hdr.sgml : 20171027
<ACCEPTANCE-DATETIME>20171027141609
ACCESSION NUMBER:		0001615774-17-005948
CONFORMED SUBMISSION TYPE:	424B4
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20171027
DATE AS OF CHANGE:		20171027

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CM Seven Star Acquisition Corp
		CENTRAL INDEX KEY:			0001713539
		STANDARD INDUSTRIAL CLASSIFICATION:	BLANK CHECKS [6770]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B4
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-220510
		FILM NUMBER:		171158989

	BUSINESS ADDRESS:	
		STREET 1:		SUITE 1003-1004 10/F ICBC TOWER
		STREET 2:		THREE GARDEN ROAD CENTRAL
		CITY:			HONG KONG
		STATE:			F4
		ZIP:			0
		BUSINESS PHONE:		85263585597

	MAIL ADDRESS:	
		STREET 1:		SUITE 1003-1004 10/F ICBC TOWER
		STREET 2:		THREE GARDEN ROAD CENTRAL
		CITY:			HONG KONG
		STATE:			F4
		ZIP:			0
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B4
<SEQUENCE>1
<FILENAME>s107876_424b4.htm
<DESCRIPTION>424B4
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<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;&nbsp;</P>

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

<TABLE 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%; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>PROSPECTUS</B></FONT></TD>
    <TD STYLE="width: 50%; text-align: right; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Filed Pursuant to Rule 424(b)(4)</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="text-align: right; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Registration No. 333 &ndash; 220510</B></FONT></TD></TR>
</TABLE>


<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: 14pt">&nbsp;</FONT></P>

<P STYLE="font: bold 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; text-align: center"><FONT STYLE="font-size: 14pt"><B>$180,000,000</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>CM SEVEN
STAR ACQUISITION CORPORATION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>18,000,000
UNITS</B></FONT></P>



<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><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: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CM
Seven Star Acquisition Corporation is a Cayman Islands exempted 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. Our efforts to identify a prospective target business will not be limited
to a particular industry or geographic region.</FONT></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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This is an initial public offering
of our securities. Each unit that we are offering has a price of $10.00 and consists of one ordinary share, one-half of a redeemable
warrant, and one right to receive one-tenth (1/10) of an ordinary share upon the consummation of an initial business combination,
as described in more detail in this prospectus. Each whole redeemable warrant entitles the holder thereof to purchase one ordinary
share, and each ten rights entitle the holder thereof to receive one ordinary share at the closing of a business combination.
We will not issue fractional shares. As a result, you must acquire two units to own a whole warrant exercisable at a price of
$11.50 per full share, subject to adjustment as described in this prospectus, and you must hold rights in multiples of 10 in order
to receive shares for all of your rights upon closing of a business combination. Each warrant will become exercisable on the later
of the completion of an initial business combination and 12 months from the date of this prospectus, and will expire five years
after the completion of an initial business combination, or earlier upon redemption.</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>

<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"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have granted EarlyBirdCapital, Inc.,
the representative of the underwriters, a 45-day option to purchase up to 2,700,000 units (over and above the 18,000,000 units
referred to above) solely to cover over-allotments, if any.</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">Shareholder Value Fund, our sponsor, has
committed to purchase from us an aggregate of 475,000 units, or &ldquo;private units,&rdquo; at $10.00 per private unit (for a
total purchase price of $4,750,000). These purchases will take place on a private placement basis simultaneously with the consummation
of this offering. All of the proceeds we receive from these purchases will be placed in the trust account described below. Our
sponsor has also agreed that if the over-allotment option is exercised by the underwriters, it will purchase from us at a price
of $10.00 per private unit an additional number of private units (up to a maximum of 54,000 private units) <I>pro rata</I> with
the amount of the over-allotment option exercised so that at least $10.00 per share sold to the public in this offering is held
in trust regardless of whether the over-allotment option is exercised in full or part. These additional private units will be purchased
in a private placement that will occur simultaneously with the purchase of units resulting from the exercise of the over-allotment
option.</P>



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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There is presently no public market
for our units, ordinary shares, warrants or rights. We have applied to have our units listed on the Nasdaq Capital Market, or
Nasdaq, under the symbol &ldquo;CMSSU&rdquo; on or promptly after the date of this prospectus. We cannot guarantee that our securities
will be approved for listing on Nasdaq. The ordinary shares, warrants and rights comprising the units will begin separate trading
on the 90<SUP>th</SUP> day after the date of this prospectus unless EarlyBirdCapital determines that an earlier date is acceptable,
subject to our filing a Current Report on Form 8-K with the Securities and Exchange Commission, or SEC, containing an audited
balance sheet reflecting our receipt of the gross proceeds of this offering and issuing a press release announcing when such separate
trading will begin. Once the securities comprising the units begin separate trading, the ordinary shares, warrants and rights
will be traded on Nasdaq under the symbols &ldquo;CMSS,&rdquo; &ldquo;CMSSW,&rdquo; and &ldquo;CMSSR,&rdquo; respectively. We
cannot assure you that our securities will continue to be listed on Nasdaq after this offering.</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"><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: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are an &ldquo;emerging growth company&rdquo; as defined in the Jumpstart Our Business Startups Act of 2012 and have elected to
comply with certain reduced public company reporting requirements.</FONT></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>

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

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<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>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investing
in our securities involves a high degree of risk. See &ldquo;Risk Factors&rdquo; beginning on page 19 of this prospectus for a
discussion of information that should be considered in connection with an investment in our securities.</FONT></P>

<P STYLE="font: bold 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>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Neither
the Securities and Exchange Commission 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.</FONT></P>

<P STYLE="font: bold 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>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No
offer or invitation to subscribe for units may be made to the public in the Cayman Islands.</FONT></P>

<P STYLE="font: bold 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 CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Public<BR> Offering Price</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Underwriting
    Discount and Commissions<SUP>(1)</SUP></B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Proceeds, Before Expenses, to
    us</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 60%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Per unit</FONT></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">10.00</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">0.20</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">9.80</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total</FONT></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">180,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,600,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">176,400,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<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">&nbsp;</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Please
                                         see the section titled &ldquo;Underwriting&rdquo; for further information relating to
                                         the underwriting arrangements agreed to between us and the underwriters in this offering.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><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: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon
consummation of the offering, $10.00 per unit sold to the public in this offering (whether or not the over-allotment option has
been exercised in full or part) will be deposited into a United States-based account at JPMorgan Chase Bank maintained by Continental
Stock Transfer &amp; Trust Company, acting as trustee. Pursuant to the investment management trust agreement that will govern
the investment of such funds, the trustee, upon our written instructions, will direct JPMorgan Chase Bank to invest the funds
as set forth in such written instructions and to custody the funds while invested and until otherwise instructed in accordance
with the investment management trust agreement. Except as described in this prospectus, these funds will not be released to us
until the earlier of the completion of our initial business combination and our liquidation upon our failure to consummate a business
combination within the required time period.</FONT></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>

<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">We are offering the units for sale on a
firm-commitment basis. EarlyBirdCapital, Inc., acting as representative of the underwriters, expects to deliver our securities
to investors in the offering on or about October 30, 2017.</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>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Sole
Book-Running Manager&nbsp;</I></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt">EarlyBirdCapital,
Inc.&nbsp;</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>I-Bankers
Securities, Inc.</B></FONT></P>



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

<P STYLE="font: bold 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; text-align: center"><B>October 25, 2017</B></P>



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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CM
SEVEN STAR ACQUISITION CORPORATION</FONT></P>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&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>Page</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 91%"><A HREF="#a001_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PROSPECTUS
    SUMMARY</FONT></A></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: right"><A HREF="#a001_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a002_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SUMMARY FINANCIAL DATA</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><A HREF="#a002_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a003_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">RISK FACTORS</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><A HREF="#a003_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">19</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a004_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CAUTIONARY NOTE REGARDING
    FORWARD-LOOKING STATEMENTS</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><A HREF="#a004_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">36</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a005_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">USE OF PROCEEDS</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><A HREF="#a005_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">38</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a006_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DIVIDEND POLICY</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><A HREF="#a006_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">42</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a007_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DILUTION</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><A HREF="#a007_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">43</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a008_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CAPITALIZATION</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><A HREF="#a008_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">45</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a009_v1"><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>&nbsp;</TD>
    <TD STYLE="text-align: right"><A HREF="#a009_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">46</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a010_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PROPOSED BUSINESS</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><A HREF="#a010_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif">50</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a011_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">MANAGEMENT</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><A HREF="#a011_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">65</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a012_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PRINCIPAL SHAREHOLDERS</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><A HREF="#a012_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">73</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a013_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CERTAIN TRANSACTIONS</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><A HREF="#a013_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">76</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><A HREF="#a014_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DESCRIPTION
    OF SECURITIES</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><A HREF="#a014_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">79</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a015_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SHARES ELIGIBLE FOR FUTURE
    SALE</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><A HREF="#a015_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">88</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a016_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">TAXATION</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><A HREF="#a016_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">89</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a017_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">UNDERWRITING</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><A HREF="#a017_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a018_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">LEGAL MATTERS</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><A HREF="#a018_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">104</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a019_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">EXPERTS</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><A HREF="#a019_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">104</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a020_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHERE YOU CAN FIND ADDITIONAL
    INFORMATION</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><A HREF="#a020_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">104</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><A HREF="#a021_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">INDEX TO FINANCIAL STATEMENTS</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><A HREF="#a021_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">F-1</FONT></A></TD></TR>
</TABLE>


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

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

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

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


<div STYLE="BORDER:solid BLACK 1px;padding:1%;width:99%"><P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a001_v1"></A>PROSPECTUS
                                         SUMMARY</P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This summary highlights certain
information appearing elsewhere in this prospectus. For a more complete understanding of this offering, you should read the entire
prospectus carefully, including the risk factors and the financial statements. Unless otherwise stated in this prospectus:</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify"><I>&ldquo;we,&rdquo;
                                         &ldquo;us&rdquo; or &ldquo;our company&rdquo; refers to CM Seven Star Acquisition Corporation;</I></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify"><I>&ldquo;initial
                                         shareholders&rdquo; refers to all of our shareholders immediately prior to the date of
                                         this prospectus, including all of our officers and directors to the extent they hold
                                         such shares;</I></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify"><P STYLE="margin: 0pt 0"><I>&ldquo;insider
                                         shares&rdquo; refers to the 5,175,000 ordinary shares held by our initial shareholders
                                         prior to this offering (including up to an aggregate of 675,000 ordinary shares subject
                                         to forfeiture to the extent that the underwriters&rsquo; over-allotment option is not
                                         exercised in full or in part);</I></P>


</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify"><I>&ldquo;private
                                         units&rdquo; refer to the units we are selling privately to our sponsor upon consummation
                                         of this offering;</I></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify"><I>&ldquo;sponsor&rdquo;
                                         refers to Shareholder Value Fund, an entity affiliated with Bing Lin, our Chairman and
                                         Chief Executive Officer, Alan Chow, our Chief Operating Officer, Kathy Li, Our Director
                                         of Investor Relations, and Patrick Ho, our Senior Vice President;</I></TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Symbol; 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-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><I><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Private
                                         rights&rdquo; refer to the rights underlying the private units;</FONT></I></TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify"><I>&ldquo;Private
                                         warrants&rdquo; refer to the warrants underlying the private units;</I></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify"><I>&ldquo;US
                                         Dollars&rdquo; and &ldquo;$&rdquo; refer to the legal currency of the United States;</I></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify"><I>&ldquo;Companies
                                         Law&rdquo; refers to the Companies Law (2016 Revision) of the Cayman Islands as the same
                                         may be amended from time to time;</I></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify"><I>the
                                         term &ldquo;public shareholders&rdquo; means the holders of the ordinary shares which
                                         are being sold as part of the units in this public offering, or &ldquo;public shares,&rdquo;
                                         whether they are purchased in the public offering or in the aftermarket, including any
                                         of our initial shareholders to the extent that they purchase such public shares (except
                                         that our initial shareholders will not have conversion or tender rights with respect
                                         to any public shares they own); and</I></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify"><I>the
                                         information in this prospectus assumes that the underwriters will not exercise their
                                         over-allotment option.</I></TD></TR></TABLE>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">All references in this prospectus
to shares of the Company being forfeited shall take effect as surrenders for no consideration of such shares as a matter of Cayman
Islands law. All references to the conversion of ordinary shares shall take effect as a redemption of ordinary shares and issuance
of the corresponding ordinary shares as a matter of Cayman Islands law.</P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">You should rely only on the information
contained in this prospectus. We have not authorized anyone to provide you with different information. We are not making an offer
of these securities in any jurisdiction where the offer is not permitted.</P>

<P STYLE="font: italic 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">We are a Cayman Islands company incorporated
on November 28, 2016 as an exempted company with limited liability. Exempted companies are Cayman Islands companies wishing to
conduct business outside the Cayman Islands and, as such, are exempted from complying with certain provisions of the Companies
Law. As an exempted company, we have applied for and received a tax exemption undertaking from the Cayman Islands government that,
in accordance with section 6 of the Tax Concessions Law (2011 Revision) of the Cayman Islands, for a period of 20 years from the
date of the undertaking, no law which is enacted in the Cayman Islands imposing any tax to be levied on profits, income, gains
or appreciations shall apply to us or our operations and, in addition, that no tax to be levied on profits, income, gains or appreciations
or which is in the nature of estate duty or inheritance tax shall be payable (i) on or in respect of our shares, debentures or
other obligations or (ii) by way of the withholding in whole or in part of a payment of dividend or other distribution of income
or capital by us to our shareholders or a payment of principal or interest or other sums due under a debenture or other obligation
of us.</P>
</DIV>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

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<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">&nbsp;</P>
<div STYLE="BORDER:solid BLACK 1px;padding:1%;width:100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We
                                         were formed 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, which we refer to as a &ldquo;target business.&rdquo;
                                         Our efforts to identify a prospective target business will not be limited to a particular
                                         industry or geographic location. 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.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Background and Competitive Advantages</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: justify">We believe that our management team is
well positioned to identify attractive risk-adjusted returns in the marketplace and that our contacts and transaction sources,
ranging from industry executives, private owners, private equity funds, and investment bankers, in addition to the geographical
reach of our affiliates, will enable us to pursue a broad range of opportunities.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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"><B>1.</B></TD><TD STYLE="text-align: justify"><B><I>Our Sponsor&rsquo;s
                                         Relationship with China Minsheng Investment Group</I></B></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Our sponsor, Shareholder
Value Fund, is a Cayman Islands exempted company structured as a hedge fund controlled by its Board of Directors, which has selected
CM Asset Management (Hongkong) Company Limited (&ldquo;CMAM&rdquo;) to serve as the investment manager for the fund. CMAM is a
wholly owned subsidiary of China Minsheng Financial Holding Corporation Limited, a HKSE listed Company [Ticker: 245 HK] (&ldquo;CMFH&rdquo;).
CMFH is a part of China Minsheng Investment Group Co. Ltd. (&ldquo;CMIG&rdquo;), founded in Shanghai in 2014. CMIG is a well-recognized
financial company in China and has sizeable investments in industries such as new energy, aviation, healthcare and technology.
CMIG aspires to be a wholly private sector competitor of China Investment Corporation, commonly considered to be the sovereign
wealth fund of China.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"></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"><B>2.</B></TD><TD STYLE="text-align: justify"><B>Broad Network
                                         for Access to Various Targets </B></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Since our sponsor is managed
by an investment manager that is an affiliate of CMIG, we believe that we could benefit from the resources of CMIG. CMIG and its
affiliates may present to us potential targets, and assist in the analysis and due-diligence of such targets if needed. Furthermore,
the relationship of our sponsor with CMIG could result in CMIG presenting potential acquisition opportunities to us.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&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"><B>3.</B></TD><TD STYLE="text-align: justify"><B>Strong and Stable
                                         Financial Position with Flexibility</B></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">With the IPO proceeds held
in trust, initially in the amount of $180 million (or $207 million if the over-allotment option is exercised in full) and a
public market for our ordinary shares, we can offer a target business a variety of options to facilitate a business combination
and fund future expansion and growth of its business. Because we are able to consummate a business combination using the cash
proceeds from this offering, our share capital, debt or a combination of the foregoing, we have the flexibility to use an efficient
structure allowing us to tailor the consideration to be paid to the target business to address the needs of the parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;&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"><B>4.</B></TD><TD STYLE="text-align: justify"><B>Significant Cross
                                         Border Business Experience</B></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Our management team has significant
experience in cross-border business in Asia, Europe and the U.S. Our management team understands the cultural, business and economic
differences and opportunities that will allow us to negotiate a transaction.&nbsp;</P>



</DIV>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>
<div STYLE="BORDER:solid BLACK 1px;padding:1%;width:100%"><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"><B>5.</B></TD><TD STYLE="text-align: justify"><B>Alternative
                                         Path to Becoming Public</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">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 process to a public listing rather than the traditional initial public offering process. We believe
that target businesses will favor this alternative, which we believe is less expensive, while offering greater certainty of execution
than the traditional initial public offering. During an initial public offering, there are typically expenses incurred in marketing,
which would be costlier than a business combination with us. Furthermore, once a proposed business combination is approved by
our shareholders and the transaction is consummated, 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
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. With the proper corporate governance and operation as a public company,
the target business would become attractive to the public.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&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; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our acquisition strategy is to identify,
acquire and, after our initial business combination, to build a public company. Our selection process will leverage our team&rsquo;s
network of industry, private equity and lending community relationships as well as relationship with management teams of public
and private companies, investment bankers, attorneys and accountants, which we believe should provide us with a number of business
combination opportunities. We intend to deploy a pro-active, thematic sourcing strategy and to focus on companies where we believe
the combination of our relationships, capital and capital markets expertise and operating experience of executives at CMIG, can
help accelerate the target business&rsquo; growth and performance.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The focus of our management team is to
create shareholder value by leveraging its experience to improve the efficiency of the business while implementing strategies
to grow revenue and profits organically and/or through acquisitions. Consistent with our strategy, we have identified the following
general criteria and guidelines that we believe are important in evaluating prospective target businesses. While we intend to
use these criteria and guidelines in evaluating prospective businesses, we may deviate from these criteria and guidelines should
we see fit to do so:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&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: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><I>Large
                                         Companies in Fast Growing Industries</I></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">We intend to primarily seek to
acquire one or more growth businesses with a total equity value of greater than 5 to 10 times the amount of the proceeds of this
offering. 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 for growth to yield significant revenue and earnings growth. We do not intend to acquire
either a start-up company or a company with negative cash flow.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&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: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><I>Niche
                                         Leader and Specialized Business with High Growth Potential</I></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">We intend to seek target companies
that have significant underexploited expansion opportunities in a niche sector. One of the key elements of our sponsor&rsquo;s
typical value creation approach is to acquire target companies to accelerate their growth. This can be accomplished through a
combination of accelerating organic growth and finding attractive add-on acquisition targets. Our management team has significant
experience in identifying such targets and helping target management assess the strategic and financial fit. Similarly, our management
has the expertise to assess the likely synergies and a process to help a target integrate acquisitions.</P>
</DIV>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0in; text-indent: 0in; text-align: justify">&nbsp;</P>
<div STYLE="BORDER:solid BLACK 1px;padding:1%;width:100%"><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: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><I>Long-term
                                         Revenue Visibility with Defensible Market Position</I></TD></TR></TABLE>
<BR>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">We intend to seek target companies
that are at an inflection point, such as those requiring additional management expertise, are able to innovate by developing new
products or services, or where we believe we can drive improved financial performance and where an acquisition may help facilitate
growth.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&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: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><I>Benefits
                                         from Being a U.S. Public Company (Value Creation and Marketing Opportunities)</I></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">We intend to seek target companies
that should offer attractive risk-adjusted equity returns for our shareholders. We intend to seek to acquire a target on terms
and in a manner that leverages our experience. We expect to evaluate financial returns based on (i) the potential for organic
growth in cash flows, (ii) the ability to achieve cost savings, (iii) the ability to accelerate growth, including through the
opportunity for follow-on acquisitions and (iv) the prospects for creating value through other value creation initiatives. Potential
upside from growth in the target business&rsquo; earnings and an improved capital structure will be weighed against any identified
downside risks.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&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: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><I>Potential
                                         Benefit from Globalization Trends and Possession of Competitive Advantages</I></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">Target companies exhibit unrecognized
value or other characteristics that we believe have been misevaluated by the marketplace based on our company specific analysis
and due diligence review. For a potential target company, this process will include, among other things, a review and analysis
of the company&rsquo;s capital structure, quality of earnings, potential for operational improvements, corporate governance, customers,
material contracts, and industry background and trends. We intend to leverage the operational experience and disciplined investment
approach of our team to identify opportunities to unlock value that our experience in complex situations allows us to pursue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">These criteria 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.</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">We will either (1) seek shareholder approval
of our initial business combination at a meeting called for such purpose at which public shareholders may seek to convert their
public shares, regardless of whether they vote for or against the proposed business combination, into their <I>pro rata </I>share
of the aggregate amount then on deposit in the trust account (net of taxes payable) or (2) provide our public shareholders with
the opportunity to sell their public shares to us by means of a tender offer (and thereby avoid the need for a shareholder vote)
for an amount equal to their <I>pro rata</I> share of the aggregate amount then on deposit in the trust account (net of taxes
payable), in each case subject to the limitations described herein. Notwithstanding the foregoing, our initial shareholders have
agreed, pursuant to written letter agreements with us, not to convert any public shares held by them into their <I>pro rata </I>share
of the aggregate amount then on deposit in the trust account. The decision as to whether we will seek shareholder approval of
our proposed business combination or 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. If we so choose and we are legally permitted to do so, we
will have the flexibility to avoid a shareholder vote and allow our shareholders to sell their shares pursuant to the tender offer
rules of the Securities and Exchange Commission, or SEC. In that case, we will file tender offer documents with the SEC which
will contain substantially the same financial and other information about the initial business combination as is required under
the SEC&rsquo;s proxy rules. We will consummate our initial business combination only if we have net tangible assets of at least
$5,000,001 upon such consummation and, solely if we seek shareholder approval, a majority of the issued and outstanding ordinary
shares voted are voted in favor of the business combination.</P>
</DIV>
<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>

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<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">&nbsp;</P>
<div STYLE="BORDER:solid BLACK 1px;padding:1%;width:100%"><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">We will have until 15 months from the consummation
of this offering to consummate our initial business combination. However, if we anticipate that we may not be able to consummate
our initial business combination within 15 months, we may, but are not obligated to, extend the period of time to consummate a
business combination by an additional three months (for a total of up to 18 months to complete a business combination). 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, LLC on the date of this prospectus, in order to extend the time available
for us to consummate our initial business combination, our insiders or their affiliates or designees, upon five days advance notice
prior to the applicable deadline, must deposit into the trust account $1,800,000, or $2,070,000 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. The insiders
will receive a non-interest bearing, unsecured promissory note equal to the amount of any such deposit that will not be repaid
in the event that we are unable to close a business combination unless there are funds available outside the trust account to do
so. Such notes would either be paid upon consummation of our initial business combination, or, at the lender&rsquo;s discretion,
converted upon consummation of our business combination into additional private units at a price of $10.00 per unit. Our shareholders
have approved the issuance of the private units upon conversion of such notes, to the extent the holder wishes to so convert such
notes at the time of the consummation of our initial business combination. In the event that we receive notice from our insiders
five days prior to the applicable deadline of their intent to effect an extension, we intend to issue a press release announcing
such intention at least three days prior to the applicable deadline. In addition, we intend to issue a press release the day after
the applicable deadline announcing whether or not the funds had been timely deposited. Our insiders and their affiliates or designees
are not obligated to fund the trust account to extend the time for us to complete our initial business combination. To the extent
that some, but not all, of our insiders, decide to extend the period of time to consummate our initial business combination, such
insiders (or their affiliates or designees) may deposit the entire amount required. If we are unable to consummate our initial
business combination within such time period, we will, as promptly as possible but not more than ten business days thereafter,
redeem 100% of our outstanding public shares for a pro rata portion of the funds held in the trust account, including a pro rata
portion of any interest earned on the funds held in the trust account and not previously released to us or necessary to pay our
taxes, and then seek to liquidate and dissolve. However, we may not be able to distribute such amounts as a result of claims of
creditors which may take priority over the claims of our public shareholders. In the event of our dissolution and liquidation,
the public rights will expire and will be worthless.</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">If we are unable to consummate our initial business combination within this time period, we
will liquidate the trust account and distribute the proceeds held therein to our public shareholders and dissolve. If we are forced
to liquidate, we anticipate that we would distribute to our public shareholders the amount in the trust account calculated as
of the date that is two days prior to the distribution date (including any accrued interest). Prior to such distribution, we would
be required to assess all claims that may be potentially brought against us by our creditors for amounts they are actually owed
and make provision for such amounts, as creditors take priority over our public shareholders with respect to amounts that are
owed to them. We cannot assure you that we will properly assess all claims that may be potentially brought against us. As such,
our shareholders could potentially be liable for any claims of creditors to the extent of distributions received by them as an
unlawful payment in the event we enter an insolvent liquidation.</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">Pursuant to the Nasdaq listing rules,
our initial business combination must be with a target business or businesses whose collective fair market value is at least equal
to 80% of the balance in the trust account (net of taxes payable) at the time of the execution of a definitive agreement for such
business combination, although this may entail simultaneous acquisitions of several target businesses. The fair market value of
the target will be determined by our board of directors based upon one or more standards generally accepted by the financial community
(such as actual and potential sales, earnings, cash flow and/or book value). Our board of directors will have broad discretion
in choosing the standard used to establish the fair market value of any prospective target business. The target business or businesses
that we acquire may have a collective fair market value substantially in excess of 80% of the trust account balance.</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">We are not required to obtain an opinion
from an unaffiliated third party that the target business we select has a fair market value in excess of at least 80% of the balance
of the trust account unless our board of directors cannot make such determination on its own. We are also not required to obtain
an opinion from an unaffiliated third party indicating that the price we are paying is fair to our shareholders from a financial
point of view unless the target is affiliated with our officers, directors, initial shareholders or their affiliates.</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">We currently anticipate structuring our
initial business combination to acquire 100% of the equity interests or assets of the target business or businesses. We may, however,
structure our initial business combination where we merge directly with the target business or where we acquire 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 could
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 issued and 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, only the portion of such business or businesses that is owned
or acquired is what will be valued for purposes of the 80% fair market value test.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Management Operating and Investing
Experience</P>

<P STYLE="font: bold 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">We believe that our executive officers
possess the experience, skills and contacts necessary to source, evaluate, and execute an attractive business combination. See
the sections titled &ldquo;Business &mdash; Management Operating and Investment Experience&rdquo; and &ldquo;Management&rdquo;
for complete information on the experience of our officers and directors. Notwithstanding the foregoing, our officers and directors
are not required to commit their full time to our affairs and will allocate their time to other businesses. We presently expect
each of our employees to devote such amount of time as they reasonably believe is necessary to our business (which could range
from only a few hours a week while we are trying to locate a potential target business to a majority of their time as we move
into serious negotiations with a target business for a business combination). The past successes of our executive officers and
directors do not guarantee that we will successfully consummate an initial business combination.</P>
</DIV>
<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>

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<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">&nbsp;</P>
<div STYLE="BORDER:solid BLACK 1px;padding:1%;width:100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As
                                         more fully discussed in &ldquo;Management &mdash; Conflicts of Interest,&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 has pre-existing fiduciary
                                         or contractual obligations, he may be required to present such business combination opportunity
                                         to such entity, subject to his or her fiduciary duties under Cayman Islands law, prior
                                         to presenting such business combination opportunity to us. Most of our officers and directors
                                         currently have pre-existing fiduciary duties or contractual obligations.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Emerging Growth Company Status</P>

<P STYLE="font: bold 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">We are an emerging growth company as defined
in the Jumpstart Our Business Startups Act of 2012 (which we refer to herein as the JOBS Act). We will remain an emerging growth
company until the earlier of (1) the last day of the fiscal year (a) following the fifth anniversary of the completion of this
offering, (b) in which we have total annual gross revenue of at least $1.07 billion, or (c) 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 prior June 30, and (2) the date on which we have issued more than $1.0 billion in non-convertible debt during the prior
three year period. As an emerging growth company, we have elected, under Section 107(b) of the JOBS Act, to take advantage of
the extended transition period provided in Section 7(a)(2)(B) of the Securities Act of 1933, as amended, or the Securities Act,
for complying with new or revised accounting standards.</P>

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

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

<P STYLE="font: bold 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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We sold an aggregate of 5,175,000 ordinary
shares to certain of our initial shareholders, which we refer to throughout this prospectus as the &ldquo;insider shares,&rdquo;
for an aggregate purchase price of $31,038, or approximately $0.007 per share. The insider shares held by our initial shareholders
include an aggregate of up to 675,000 shares subject to forfeiture to the extent that the underwriters&rsquo; over-allotment option
is not exercised in full or in part, so that our initial shareholders will collectively own 20.0% of our issued and outstanding
shares after this offering (excluding the sale of the private units and assuming our initial shareholders do not purchase units
in this offering). None of our initial shareholders has indicated any intention to purchase units in this 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">The insider shares are identical to
the ordinary shares included in the units being sold in this offering. However, our initial shareholders have agreed, pursuant
to written letter agreements with us, (A) to vote their insider shares (as well as any public shares acquired in or after this
offering) in favor of any proposed business combination, (B) not to propose, or vote in favor of, an amendment to our amended
and restated memorandum and articles of association that would stop our public shareholders from converting or selling their shares
to us in connection with a business combination or affect the substance or timing of our obligation to redeem 100% of our public
shares if we do not complete a business combination within 15 months from the closing of this offering (or 18 months, as applicable)
unless we provide dissenting public shareholders with the opportunity to convert their public shares into the right to receive
cash from the trust account in connection with any such vote, (C) not to convert any insider shares (as well as any other shares
acquired in or after this offering) into the right to receive cash from the trust account in connection with a shareholder vote
to approve our proposed initial business combination (or sell any shares they hold to us in a tender offer in connection with
a proposed initial business combination) or a vote to amend the provisions of our amended and restated memorandum and articles
of association relating to shareholders&rsquo; rights or pre-business combination activity and (D) that the insider shares shall
not participate in any liquidating distribution upon winding up if a business combination is not consummated. Additionally, our
initial shareholders have agreed not to transfer, assign or sell any of the insider shares (except to certain permitted transferees)
until (1) with respect to 50% of the insider shares, the earlier of one year after the date of the consummation of our initial
business combination and the date on which the closing price of our ordinary shares equals or exceeds $12.50 per share (as adjusted
for share splits, share capitalizations, reorganizations and recapitalizations) for any 20 trading days within any 30-trading
day period commencing after our initial business combination and (2) with respect to the remaining 50% of the insider shares,
one year after the date of the consummation of our initial business combination, or earlier, in either case, if, subsequent to
our initial business combination, we consummate a liquidation, merger, stock exchange or other similar transaction which results
in all of our shareholders having the right to exchange their ordinary shares for cash, securities or other property.</P>

</DIV>
<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>

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<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">&nbsp;</P>
<div STYLE="BORDER:solid BLACK 1px;padding:1%;width:100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, Shareholder Value Fund, our sponsor, has committed to purchase from us an aggregate of 475,000
private units at $10.00 per private unit (for a total purchase price of $4,750,000). These purchases will take place on a private
placement basis simultaneously with the consummation of this offering. All of the proceeds we receive from these purchases will
be placed in the trust account described below. Our sponsor has also agreed that if the over-allotment option is exercised by the
underwriters, it will purchase from us at a price of $10.00 per private unit an additional number of private units (up to a maximum
of 54,000 private units) <I>pro rata</I> with the amount of the over-allotment option exercised so that at least $10.00 per share
sold to the public in this offering is held in trust regardless of whether the over-allotment option is exercised in full or part.
These additional private units will be purchased in a private placement that will occur simultaneously with the purchase of units
resulting from the exercise of the over-allotment option. The proceeds from the private placement of the private units will be
added to the proceeds of this offering and placed in an account in the United States maintained by Continental Stock Transfer &amp;
Trust Company, as trustee.</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">The private units are identical to
the units sold in this offering except that the private warrants will be non-redeemable and may be exercised on a cashless basis,
in each case so long as they continue to be held by our sponsor or its permitted transferees. Additionally, because the private
units will be issued in a private transaction, our sponsor and its permitted transferees will be allowed to exercise the private
warrants for cash even if a registration statement covering the ordinary shares issuable upon exercise of such warrants is not
effective and receive unregistered ordinary shares. Furthermore, our sponsor has agreed (A) to vote the ordinary shares underlying
the private units, or &ldquo;private shares,&rdquo; in favor of any proposed business combination, (B) not to propose, or vote
in favor of, an amendment to our amended and restated memorandum and articles of association that would stop our public shareholders
from converting or selling their shares to us in connection with a business combination or affect the substance or timing of our
obligation to redeem 100% of our public shares if we do not complete a business combination within 15 months from the closing
of this offering (or 18 months, as applicable) unless we provide dissenting public shareholders with the opportunity to convert
their public shares in connection with any such vote, (C) not to convert any private shares for cash from the trust account in
connection with a shareholder vote to approve our proposed initial business combination or a vote to amend the provisions of our
amended and restated memorandum and articles of association relating to shareholders&rsquo; rights or pre-business combination
activity and (D) that the private shares shall not participate in any liquidating distribution upon winding up if a business combination
is not consummated. Our sponsor has also agreed not to transfer, assign or sell any of the private units or underlying securities
(except to the same permitted transferees as the insider shares and provided the transferees agree to the same terms and restrictions
as the permitted transferees of the insider shares must agree to, each as described above) until the completion 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">Our principal executive offices are located
at Suite 1003-1004, 10/F, ICBC Tower, Three Garden Road, Central, Hong Kong and our telephone number is +852 6358 5597.</P>
</DIV>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<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>

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



<div STYLE="BORDER:solid BLACK 1px;padding:1%;width:100%"><P STYLE="margin-top: 0; text-align: center; margin-bottom: 0"><B>The
                                         Offering</B></P>

<P STYLE="font: bold 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">In making your decision on 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
419 promulgated under the Securities Act. You will not be entitled to protections normally afforded to investors in Rule 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 19 of this prospectus.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; padding-left: 9pt; text-indent: -9pt; text-align: justify"><B>Securities offered</B></TD>
    <TD STYLE="width: 70%; padding-left: 12pt; text-align: justify"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">18,000,000 units, at $10.00 per unit, each unit consisting of one ordinary share, one-half of a redeemable
warrant, and one right. Each whole redeemable warrant entitles the holder thereof to purchase one ordinary share. Every ten rights
entitles the holder to receive one ordinary share upon consummation of our initial business combination</P>



</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-left: 9pt; text-indent: -9pt; text-align: justify"><B>Listing of our securities and proposed
    symbols</B></TD>
    <TD STYLE="padding-top: 8pt; padding-left: 12pt; text-align: justify"><P STYLE="margin: 0pt 0">We anticipate the units,
                                         and the ordinary shares, warrants and rights, once they begin separate trading, will
                                         be listed on Nasdaq under the symbols &ldquo;CMSSU,&rdquo; &ldquo;CMSS,&rdquo; &ldquo;CMSSW,&rdquo;
                                         and &ldquo;CMSSR,&rdquo; respectively.</P>


</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-left: 9pt; text-indent: -9pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-top: 8pt; padding-left: 12pt; text-align: justify"><P STYLE="margin: 0pt 0">Each of the ordinary shares,
                                         warrants and rights may trade separately on the 90<SUP>th</SUP> day after the date of
                                         this prospectus unless EarlyBirdCapital determines that an earlier date is acceptable
                                         (based upon, among other things, its assessment of the relative strengths of the securities
                                         markets and small capitalization and blank check companies in general, and the trading
                                         pattern of, and demand for, our securities in particular). In no event will EarlyBirdCapital
                                         allow separate trading of the ordinary shares, warrants and rights until we file an audited
                                         balance sheet reflecting our receipt of the gross proceeds of this offering.</P>


</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-left: 9pt; text-indent: -9pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-top: 8pt; padding-left: 12pt; text-align: justify"><P STYLE="margin: 0pt 0">Once the ordinary shares,
                                         warrants and rights commence separate trading, holders will have the option to continue
                                         to hold units or separate their units into the component pieces. Holders will need to
                                         have their brokers contact our transfer agent in order to separate the units into separately
                                         trading ordinary shares, warrants and rights. No fractional warrants will be issued upon
                                         separation of the units and only whole warrants will trade. Accordingly, unless you purchase
                                         at least two units, you will not be able to receive or trade a whole warrant.</P> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-left: 9pt; text-indent: -9pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-top: 8pt; padding-left: 12pt; text-align: justify">We will file a Current Report on Form 8-K with the
    SEC, including an audited balance sheet, promptly upon the consummation of this offering, which is anticipated to take place
    three business days from the date the units commence trading. The audited balance sheet will reflect our receipt of the proceeds
    from the exercise of the over-allotment option if the over-allotment option is exercised on the date of this prospectus. If
    the over-allotment option is exercised after the date of this prospectus, we will file an amendment to the Form 8-K or a new
    Form 8-K to provide updated financial information to reflect the exercise of the over-allotment option. We will also include
    in the Form 8-K, or amendment thereto, or in a subsequent Form 8-K, information indicating if EarlyBirdCapital has allowed
    separate trading of the ordinary shares, warrants and rights prior to the 90<SUP>th</SUP> day after the date of this prospectus.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-left: 9pt; text-indent: -9pt; text-align: justify"><B>Ordinary shares:</B></TD>
    <TD STYLE="padding-top: 8pt; padding-left: 12pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-left: 9pt; text-indent: -9pt; text-align: justify"><B>Number issued and outstanding before
    this offering and the private placement</B></TD>
    <TD STYLE="padding-top: 8pt; padding-left: 12pt; text-align: justify"><P STYLE="margin: 0pt 0">5,175,000 shares(1)</P>


</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-left: 9pt; text-indent: -9pt; text-align: justify"><B>Number to be issued and outstanding
    after this offering and sale of private units</B></TD>
    <TD STYLE="padding-top: 8pt; padding-left: 12pt; text-align: justify"><P STYLE="margin: 0pt 0">22,975,000 shares(2)</P>


</TD></TR>
</TABLE>
</div>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></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 STYLE="text-align: justify"><P STYLE="margin: 0pt 0">This number includes an aggregate of up to 675,000 ordinary shares held by our initial shareholders that
are subject to forfeiture if the over-allotment option is not exercised by the underwriters in full.</P>


</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></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)</TD><TD STYLE="text-align: justify"><P STYLE="margin: 0pt 0">Assumes the over-allotment option has not been exercised and an aggregate of 675,000 ordinary shares held
by our initial shareholders have been forfeited. If the over-allotment option is exercised in full, there will be a total of 26,404,000
ordinary shares issued and outstanding.</P>


</TD></TR></TABLE>

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

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<DIV STYLE="border: BLACK 1px solid; padding: 1%; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 30%; padding-right: 5.4pt; text-align: justify"><B>Redeemable Warrants:</B></TD>
    <TD STYLE="width: 70%; padding-left: 12pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-left: 9pt; text-indent: -9pt; text-align: justify"><B>Number issued and outstanding before
    this offering and the private placement</B></TD>
    <TD STYLE="padding-top: 8pt; padding-left: 12pt; text-align: justify">0 warrants</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-left: 9pt; text-indent: -9pt; text-align: justify"><B>Number to be issued and outstanding
    after this offering and sale of private units</B></TD>
    <TD STYLE="padding-top: 8pt; padding-left: 12pt; text-align: justify"><P STYLE="margin: 0pt 0">9,237,500 warrants(3)</P>


</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-right: 5.4pt; text-align: justify"><B>Exercisability</B></TD>
    <TD STYLE="padding-top: 8pt; padding-left: 12pt; text-align: justify">Each whole redeemable warrant entitles the holder thereof
    to purchase one ordinary share. We will not issue fractional shares. As a result, you must acquire two units to own a whole
    warrant exercisable at a price of $11.50 per full share, subject to adjustment as described in this prospectus.</TD></TR>
</TABLE>
<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">&nbsp;</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></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">(3)</TD><TD STYLE="text-align: justify"><P STYLE="margin: 0pt 0">Assumes the over-allotment option has not been exercised. If the over-allotment option is exercised in
full, there will be a total of 10,614,500 warrants, including an aggregate of 264,500 private warrants, and 21,229,000 rights,
including an aggregate of 529,000 private rights.</P>


</TD></TR></TABLE>
</div>
<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>



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


<div STYLE="BORDER:solid BLACK 1px;padding:1%;width:100%"><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: 30%; padding-right: 5.4pt; text-align: justify"><B>Exercise price</B></TD>
    <TD STYLE="width: 70%; padding-left: 12pt; text-align: justify">$11.50 per whole share. No public warrants will be exercisable
    for cash unless we have an effective and current registration statement covering the ordinary shares issuable upon exercise
    of the warrants and a current prospectus relating to such ordinary shares. It is our current intention to have an effective
    and current registration statement covering the ordinary shares issuable upon exercise of the warrants and a current prospectus
    relating to such ordinary shares in effect promptly following consummation of an initial business combination. Notwithstanding
    the foregoing, if a registration statement covering the ordinary shares issuable upon exercise of the public warrants is not
    effective within 90 days following the consummation of our initial business combination, public warrant holders may, until
    such time as there is an effective registration statement and during any period when we shall have failed to maintain an effective
    registration statement, exercise warrants on a cashless basis pursuant to an available exemption from registration under the
    Securities Act. In such event, each holder would pay the exercise price by surrendering the whole warrants for that number
    of ordinary shares equal to the quotient obtained by dividing (x) the product of the number of ordinary shares underlying
    the warrants, multiplied by the difference between the exercise price of the warrants and the &ldquo;fair market value&rdquo;
    (defined below) by (y) the fair market value. The &ldquo;fair market value&rdquo; shall mean the average reported last sale
    price of the ordinary shares for the 10 trading days ending on the day prior to the date of exercise. For example, if a holder
    held 150 whole warrants to purchase 150 shares and the fair market value on the date prior to exercise was $15.00, that holder
    would receive 35 shares without the payment of any additional cash consideration. If an exemption from registration is not
    available, holders will not be able to exercise their warrants on a cashless basis.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-right: 5.4pt; text-align: justify"><B>Exercise period</B></TD>
    <TD STYLE="padding-top: 8pt; padding-left: 12pt; text-align: justify">The warrants will become exercisable on the later of
    the completion of an initial business combination and 12 months from the date of this prospectus. The warrants will expire
    at 5:00 p.m., New York City time, on the fifth anniversary of our completion of an initial business combination, or earlier
    upon redemption.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-right: 5.4pt; text-align: justify"><B>Redemption</B></TD>
    <TD STYLE="padding-top: 8pt; padding-left: 12pt; text-align: justify">We may redeem the outstanding warrants (excluding the
    private warrants but including any outstanding warrants issued upon exercise of the unit purchase option issued to EarlyBirdCapital),
    in whole and not in part, at a price of $0.01 per warrant:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-right: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-top: 8pt; padding-left: 0.625in; text-align: justify; text-indent: -0.25in">&#9679;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT>at any time while the warrants are exercisable,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-right: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-top: 8pt; padding-left: 0.625in; text-align: justify; text-indent: -0.25in">&#9679;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>upon
    a minimum of 30 days&rsquo; prior written notice of redemption,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-right: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-top: 8pt; padding-left: 0.625in; text-align: justify; text-indent: -0.25in">&#9679; <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>if,
    and only if, the last sales price of our ordinary shares equals or exceeds $18.00 per share for any 20 trading days within
    a 30 trading day period ending three business days before we send the notice of redemption, and</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-right: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-top: 8pt; padding-left: 0.625in; text-align: justify; text-indent: -0.25in">&#9679;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>if,
    and only if, there is a current registration statement in effect with respect to the ordinary shares underlying such warrants
    at the time of redemption and for the entire 30-day trading period referred to above and continuing each day thereafter until
    the date of redemption.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-right: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-top: 8pt; padding-left: 12pt; text-align: justify">If the foregoing conditions are satisfied and we issue
    a notice of redemption, each warrant holder can exercise his, her or its warrant prior to the scheduled redemption date. However,
    the price of the ordinary shares may fall below the $18.00 trigger price as well as the $11.50 warrant exercise price after
    the redemption notice is issued and not limit our ability to complete the redemption.</TD></TR>
</TABLE>
</div>
<P STYLE="margin: 0">&nbsp;</P>



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

<div STYLE="BORDER:solid BLACK 1px;padding:1%;width:100%"><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="padding-right: 5.4pt; text-align: justify; width: 30%">&nbsp;</TD>
    <TD STYLE="padding-left: 12pt; text-align: justify; width: 70%">The redemption criteria for our warrants have been established
    at a price which is intended to provide warrant holders a reasonable premium to the initial exercise price and provide a sufficient
    differential between the then-prevailing share price and the warrant exercise price so that if the share price declines as
    a result of our redemption call, the redemption will not cause the share price to drop below the exercise price of the warrants.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-right: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-top: 8pt; padding-left: 12pt; text-align: justify">If we call the warrants for redemption as described
    above, our management will have the option to require all holders that wish to exercise warrants to do so on a &ldquo;cashless
    basis.&rdquo; In such event, each holder would pay the exercise price by surrendering the whole warrants for that number of
    ordinary shares equal to the quotient obtained by dividing (x) the product of the number of ordinary shares underlying the
    warrants, multiplied by the difference between the exercise price of the warrants and the &ldquo;fair market value&rdquo;
    (defined below) by (y) the fair market value. The &ldquo;fair market value&rdquo; shall mean the average reported last sale
    price of the ordinary shares for the 10 trading days ending on the third trading day prior to the date on which the notice
    of redemption is sent to the holders of warrants. Whether we will exercise our option to require all holders to exercise their
    warrants on a &ldquo;cashless basis&rdquo; will depend on a variety of factors including the price of our ordinary shares
    at the time the warrants are called for redemption, our cash needs at such time and concerns regarding dilutive share issuances.</TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; padding-left: 0.1in; text-indent: -0.1in"><B>Rights:</B></TD>
    <TD STYLE="width: 70%; padding-top: 8.4pt">&nbsp;</TD></TR>
<TR STYLE="text-align: left; vertical-align: top">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in; padding-top: 0"><B>Number issued and outstanding before this offering and the private
    placement </B></TD>
    <TD STYLE="padding-top: 0; padding-left: 12pt">0 rights</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in; padding-top: 8pt"><B>Number to be issued and outstanding after this offering and sale
    of private units </B></TD>
    <TD STYLE="padding-top: 8pt; padding-left: 12pt; text-align: left; vertical-align: top"><P STYLE="margin: 0pt 0">18,475,000 rights<SUP>(4)</SUP></P>


</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.1in; text-indent: -0.1in; padding-top: 8pt"><B>Terms of Rights </B></TD>
    <TD STYLE="padding-top: 8pt; padding-left: 12pt; text-align: justify">Except in cases where we
                                         are not the surviving company in a business combination, each holder of a right will
                                         automatically receive one-tenth (1/10) of an ordinary share upon consummation of our
                                         initial 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-tenth (1/10)
                                         of a share underlying each right upon consummation of the 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 Cayman Islands law. As a result, you must hold rights
                                         in multiples of 10 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 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.</TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-right: 5.4pt; text-align: justify; width: 30%"><B>Offering proceeds to be held in trust</B></TD>
    <TD STYLE="padding-top: 8pt; padding-left: 12pt; text-align: justify; width: 70%"><P STYLE="margin: 0pt 0">$175,250,000 of the net proceeds of this offering (or $201,710,000 if the over-allotment option is exercised
in full), plus $4,750,000 we will receive from the sale of the private units (or $5,290,000 if the over-allotment option is exercised
in full), for an aggregate of $180,000,000 (or an aggregate of $207,000,000 if the over-allotment option is exercised in full),
or $10.00 per unit sold to the public in this offering (regardless of whether or not the over-allotment option is exercised in
full or part) will be placed in a trust account at JPMorgan Chase Bank in the United States, maintained by Continental Stock Transfer
&amp; Trust Company, acting as trustee pursuant to an agreement to be signed on the date of this prospectus. Pursuant to the investment
management trust agreement that will govern the investment of such funds, the trustee, upon our written instructions, will direct
JPMorgan Chase Bank to invest the funds as set forth in such written instructions and to custody the funds while invested and until
otherwise instructed in accordance with the investment management trust agreement. The remaining $500,000 of net proceeds of this
offering will not be held in the trust account.</P>


</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-right: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-top: 8pt; padding-left: 12pt; text-align: justify">Except as set forth below, the proceeds in the trust
    account will not be released until the earlier of the completion of an initial business combination within the required time
    period or our entry into liquidation if we have not completed a business combination in the required time period. Therefore,
    unless and until an initial business combination is consummated, the proceeds held in the trust account will not be available
    for our use for any expenses related to this offering or expenses which we may incur related to the investigation and selection
    of a target business and the negotiation of an agreement to acquire a target business.</TD></TR>
</TABLE>



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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0%">&nbsp;</TD>
    <TD STYLE="width: 0.25in; font-size: 10pt"><FONT STYLE="font-size: 10pt">(4)</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><P STYLE="margin: 0pt 0">Assumes the over-allotment option has not been exercised. If the over-allotment option is exercised in
full, there will be a total of 10,614,500 warrants, including an aggregate of 264,500 private warrants, and 21,229,000 rights,
including an aggregate of 529,000 private rights.</P>


</TD></TR>
</TABLE>


<P STYLE="margin: 0">&nbsp;</P>
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<P STYLE="margin: 0">&nbsp;</P>
<DIV STYLE="border: BLACK 1px solid; padding: 1%; width: 100%"><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="padding-top: 8pt; padding-right: 5.4pt; text-align: justify; width: 30%">&nbsp;</TD>
    <TD STYLE="padding-top: 8pt; padding-left: 12pt; text-align: justify; width: 70%"><P STYLE="margin: 0pt 0">Notwithstanding the foregoing, there can be released to us from the trust account any interest earned on
the funds in the trust account that we need to pay our income or other tax obligations. With these exceptions, expenses incurred
by us may be paid prior to a business combination only from the net proceeds of this offering not held in the trust account (estimated
to initially be $500,000); provided, however, that in order to meet our working capital needs following the consummation of this
offering if the funds not held in the trust account are insufficient, our initial shareholders, officers and directors or their
affiliates may, but are not obligated to, loan us funds, from time to time or at any time, in whatever amount they deem reasonable
in their sole discretion. Each loan would be evidenced by a promissory note. The notes would either be paid upon consummation of
our initial business combination, without interest, or, at the lender&rsquo;s discretion, up to $500,000 of the notes may be converted
upon consummation of our business combination into private units at a price of $10.00 per unit (which, for example, would result
in the holders being issued units to acquire 55,000 ordinary shares (which includes 5,000 ordinary shares issuable upon exercise
of rights) and warrants to purchase 25,000 ordinary shares if $500,000 of notes were so converted). If we do not complete a business
combination, the loans would not be repaid.</P> </TD></TR>
</TABLE>

<P STYLE="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="padding-right: 5.4pt; text-align: justify; width: 30%"><B>Limited payments to insiders</B></TD>
    <TD STYLE="padding-left: 12pt; text-align: justify; width: 70%">Prior to the consummation of a business combination, there
    will be no fees, reimbursements or other cash payments paid to our initial shareholders, officers, directors or their affiliates
    prior to, or for any services they render in order to effectuate, the consummation of a business combination (regardless of
    the type of transaction that it is) other than:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-right: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-top: 8pt; padding-left: 0.625in; text-align: justify; text-indent: -0.25in">&#9679;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </FONT>repayment at the closing of this offering of an aggregate of approximately $500,000 of loans made by our sponsor;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-right: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-top: 8pt; padding-left: 0.625in; text-align: justify; text-indent: -0.25in">&#9679;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>repayment
    of loans which may be made by our insiders, officers, directors or any of its or their affiliates to finance transaction costs
    in connection with an initial business combination, the terms of which have not been determined; and</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-right: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-top: 8pt; padding-left: 0.625in; text-align: justify; text-indent: -0.25in">&#9679;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>reimbursement
    of out-of-pocket expenses incurred by them in connection with certain activities on our behalf, such as identifying and investigating
    possible business targets and business combinations.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-right: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-top: 8pt; padding-left: 12pt; text-align: justify">There is no limit on the amount of out-of-pocket expenses
    reimbursable by us; provided, however, that to the extent such expenses exceed the available proceeds not deposited in the
    trust account and the interest income earned on the amounts held in the trust account available to us, such expenses would
    not be reimbursed by us unless we consummate an initial business combination. Our audit committee will review and approve
    all reimbursements and payments made to any initial shareholder or member of our management team, or their respective affiliates,
    and any reimbursements and payments made to members of our audit committee will be reviewed and approved by our Board of Directors,
    with any interested director abstaining from such review and approval.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-right: 5.4pt; text-align: justify"><B>Shareholder approval of, or tender offer in connection
    with, initial business combination</B></TD>
    <TD STYLE="padding-top: 8pt; padding-left: 12pt; text-align: justify">In connection with any proposed initial business combination,
    we will either (1) seek shareholder approval of such initial business combination at a meeting called for such purpose at
    which public shareholders may seek to convert their public shares, regardless of whether they vote for or against the proposed
    business combination, into their pro rata share of the aggregate amount then on deposit in the trust account (net of taxes
    payable) or (2) provide our public shareholders with the opportunity to sell their public 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 (net of taxes payable), in each case subject to the limitations described herein. Notwithstanding
    the foregoing, our initial shareholders have agreed, pursuant to written letter agreements with us, not to convert any public
    shares held by them into their pro rata share of the aggregate amount then on deposit in the trust account. If we determine
    to engage in a tender offer, such tender offer will be structured so that each public shareholder may tender any or all of
    his, her or its public shares rather than some pro rata portion of his, her or its shares. If enough shareholders tender their
    shares so that we are unable to satisfy any applicable closing condition set forth in the definitive agreement related to
    our initial business combination, or we are unable to maintain net tangible assets of at least $5,000,001, we will not consummate
    such initial business combination. 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 based on a variety of factors such
    as the timing of the transaction, whether the terms of the transaction would otherwise require us to seek shareholder approval
    or whether we were deemed to be a foreign private issuer (which would require us to conduct a tender offer rather than seeking
    shareholder approval under SEC rules). If we so choose and we are legally permitted to do so, we will have the flexibility
    to avoid a shareholder vote and allow our shareholders to sell their shares pursuant to Rule 13e-4 and Regulation 14E of the
    Securities Exchange Act of 1934, as amended, or Exchange Act, which regulate issuer tender offers. In that case, we will file
    tender offer documents with the SEC which will contain substantially the same financial and other information about the initial
    business combination as is required under the SEC&rsquo;s proxy rules. We will consummate our initial business combination
    only if we have net tangible assets of at least $5,000,001 upon such consummation and, solely if we seek shareholder approval,
    a majority of the issued and outstanding ordinary shares voted are voted in favor of the business combination.</TD></TR>
</TABLE>
</div>
<P STYLE="margin: 0">&nbsp;</P>

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

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

<div STYLE="BORDER:solid BLACK 1px;padding:1%;width:100%"><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="padding-right: 5.4pt; text-align: justify; width: 30%">&nbsp;</TD>
    <TD STYLE="padding-left: 12pt; text-align: justify; width: 70%">We have determined not to consummate any business combination
    unless we have net tangible assets of at least $5,000,001 upon such consummation in order to avoid being subject to Rule 419
    promulgated under the Securities Act. The $5,000,001 net tangible asset value would be determined once a target business is
    located and we can assess all of the assets and liabilities of the combined company.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-right: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-top: 8pt; padding-left: 12pt; text-align: justify">However, if we seek to consummate a business combination
    with a target business that imposes any type of working capital closing condition or requires us to have a minimum amount
    of funds available from the trust account upon consummation of such business combination, the net tangible asset requirement
    may limit our ability to consummate such a business combination and may force us to seek third party financing which may not
    be available on terms acceptable to us or at all. As a result, we may not be able to consummate such business combination
    and we may not be able to locate another suitable target within the applicable time period, if at all.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-right: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-top: 8pt; padding-left: 12pt; text-align: justify"><P STYLE="margin: 0">Our initial shareholders, including our sponsor, have agreed (i) to vote their insider shares, private
shares and any public shares purchased in or after this offering in favor of any proposed business combination and (ii) not to
convert any shares (including the insider shares) in connection with a shareholder vote to approve, or sell their shares to us
in any tender offer in connection with, a proposed initial business combination. As a result, if we sought shareholder approval
of a proposed transaction we could need as little as 768,751 of our public shares (or approximately 4.3% of our public shares)
to be voted in favor of the transaction in order to have such transaction approved (assuming the over-allotment option is not exercised
and the initial shareholders do not purchase any units in this offering or units or shares in the after-market). None of our officers,
directors, initial shareholders or their affiliates has indicated any intention to purchase units in this offering or any units
or ordinary shares in the open market or in private transactions (other than the private units). However, if a significant number
of shareholders vote, or indicate an intention to vote, against a proposed business combination, our officers, directors, initial
shareholders or their affiliates could make such purchases in the open market or in private transactions in order to influence
the vote. There is no limit on the amount of shares that may be purchased by the insiders. Any purchases would be made in compliance
with federal securities laws, including the fact that all material information will be made public prior to such purchase, and
no purchases would be made if such purchases would violate Section 9(a)(2) or Rule 10b-5 of the Exchange Act, which are rules designed
to stop potential manipulation of a company&rsquo;s stock.</P>


</TD></TR>
</TABLE>
</div>
<P STYLE="margin: 0">&nbsp;</P>

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

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<div STYLE="BORDER:solid BLACK 1px;padding:1%;width:100%"><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="padding-right: 5.4pt; text-align: justify; width: 30%"><B>Conversion rights</B></TD>
    <TD STYLE="padding-left: 12pt; text-align: justify; width: 70%">In connection with any shareholder meeting called to approve
    a proposed initial business combination, each public shareholder will have the right, regardless of whether he is voting for
    or against such proposed business combination, to demand that we convert his public shares into a <I>pro rata</I> share of
    the trust account upon consummation of the business combination.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-right: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-top: 8pt; padding-left: 12pt; text-align: justify">We may require public shareholders wishing to exercise
    conversion rights, whether they are a record holder or hold their shares in &ldquo;street name,&rdquo; to either tender the
    certificates they are seeking to convert to our transfer agent or to deliver the shares they are seeking to convert to the
    transfer agent electronically using Depository Trust Company&rsquo;s DWAC (Deposit/Withdrawal At Custodian) System, at the
    holder&rsquo;s option, at any time at or prior to the vote on the business combination. There is a nominal cost associated
    with this 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 and it would be up to the broker whether or not to pass this cost on
    to the converting holder. The foregoing is different from the procedures used by traditional blank check companies. In order
    to perfect conversion rights in connection with their business combinations, many traditional blank check companies would
    distribute proxy materials for the shareholders&rsquo; vote on an 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
    its conversion rights. After the business combination was approved, the company would contact such shareholder to arrange
    for it to deliver its 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 it could monitor the price of the company&rsquo;s stock in
    the market. If the price rose above the conversion price, it could sell its shares in the open market before actually delivering
    his shares to the company for cancellation. As a result, the conversion rights, to which shareholders were aware they needed
    to commit before the shareholder meeting, would become an &ldquo;option&rdquo; right surviving past the consummation of the
    business combination until the converting holder delivered its certificate. The requirement for physical or electronic delivery
    prior to the closing of the shareholder meeting ensures that a holder&rsquo;s election to convert is irrevocable once the
    business combination is completed.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-right: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-top: 8pt; padding-left: 12pt; text-align: justify">Pursuant to our amended and restated memorandum and
    articles of association, we are required to give a minimum of only ten days&rsquo; notice for each general meeting. As a result,
    if we require public shareholders who wish to convert their ordinary shares into the right to receive a <I>pro rata</I> portion
    of the funds in the trust account to comply with the foregoing delivery requirements, holders may not have sufficient time
    to receive the notice and deliver their shares for conversion. Accordingly, investors may not be able to exercise their conversion
    rights and may be forced to retain our securities when they otherwise would not want to.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-right: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-top: 8pt; padding-left: 12pt; text-align: justify">If we require public shareholders who wish to convert
    their ordinary shares to comply with specific delivery requirements for conversion described above and such proposed business
    combination is not consummated, we will promptly return such certificates to the tendering public shareholders.</TD></TR>
</TABLE>
</div>
<P STYLE="margin: 0">&nbsp;</P>

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

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<P STYLE="margin: 0">&nbsp;</P>
<div STYLE="BORDER:solid BLACK 1px;padding:1%;width:100%"><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="padding-right: 5.4pt; text-align: justify; width: 30%">&nbsp;</TD>
    <TD STYLE="padding-left: 12pt; text-align: justify; width: 70%">Please see the risk factors titled &ldquo;In connection with
    any shareholder meeting called to approve a proposed initial business combination, we may require shareholders who wish to
    convert their shares in connection with a proposed business combination to comply with specific requirements for conversion
    that may make it more difficult for them to exercise their conversion rights prior to the deadline for exercising their rights&rdquo;
    and &ldquo;If we require public shareholders who wish to convert their ordinary shares to comply with the delivery requirements
    for conversion, such converting shareholders may be unable to sell their securities when they wish to in the event that the
    proposed business combination is not approved.&rdquo;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-right: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-left: 12pt; text-align: justify"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                                        <P STYLE="margin-top: 0; margin-bottom: 0">Once the shares are converted
                                         by the holder, and effectively redeemed by us under Cayman Islands law, the transfer
                                         agent will then update our Register of Members to reflect all conversions.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-right: 5.4pt; text-align: justify"><B>Automatic liquidation if no business combination</B></TD>
    <TD STYLE="padding-top: 8pt; padding-left: 12pt; text-align: justify"><P STYLE="margin: 0pt 0">As described above, if we fail to consummate a business combination within 15 months from the consummation
of this offering, it will trigger our automatic winding up, dissolution and liquidation pursuant to the terms of our amended and
restated memorandum and articles of association. As a result, this has the same effect as if we had formally gone through a voluntary
liquidation procedure under the Companies Law. Accordingly, no vote would be required from our shareholders to commence such a
voluntary winding up, dissolution and liquidation. However, if we anticipate that we may not be able to consummate our initial
business combination within 15 months, we may, but are not obligated to, extend the period of time to consummate a business combination
by an additional three months (for a total of up to 18 months to complete a business combination). 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, LLC on the date of this prospectus, in order to extend the time available for us to consummate
our initial business combination, our insiders or their affiliates or designees, upon five days advance notice prior to the applicable
deadline, must deposit into the trust account $1,800,000, or $2,070,000 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. The insiders will receive a non-interest
bearing, unsecured promissory note equal to the amount of any such deposit that will not be repaid in the event that we are unable
to close a business combination unless there are funds available outside the trust account to do so. Such notes would either be
paid upon consummation of our initial business combination, or, at the lender&rsquo;s discretion, converted upon consummation of
our business combination into additional private units at a price of $10.00 per unit. Our shareholders have approved the issuance
of the private units upon conversion of such notes, to the extent the holder wishes to so convert such notes at the time of the
consummation of our initial business combination. In the event that we receive notice from our insiders five days prior to the
applicable deadline of their intent to effect an extension, we intend to issue a press release announcing such intention at least
three days prior to the applicable deadline.                                         </P> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-right: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-top: 8pt; padding-left: 12pt; text-align: justify"><P STYLE="margin: 0pt 0">The amount in the trust account (less $1,800.00 representing the aggregate nominal par value of the shares
of our public shareholders) under the Companies Law will be treated as share premium which is distributable under the Companies
Law provided that immediately following the date on which the proposed distribution is to be made, we are able to pay our debts
as they fall due in the ordinary course of business. If we are forced to liquidate, we anticipate that we would distribute to our
public shareholders the amount in the trust account calculated as of the date that is two days prior to the distribution date (including
any accrued interest).</P>


</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-right: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-top: 8pt; padding-left: 12pt; text-align: justify">Prior to such distribution, we would be required to
    assess all claims that may be potentially brought against us by our creditors for amounts they are actually owed and make
    provision for such amounts, as creditors take priority over our public shareholders with respect to amounts that are owed
    to them. We cannot assure you that we will properly assess all claims that may be potentially brought against us. As such,
    our shareholders could potentially be liable for any claims of creditors to the extent of distributions received by them as
    an unlawful payment in the event we enter an insolvent liquidation. Furthermore, while we will seek to have all vendors and
    service providers (which would include any third parties we engaged to assist us in any way in connection with our search
    for a target business) and prospective target businesses execute agreements with us waiving any right, title, interest or
    claim of any kind they may have in or to any monies held in the trust account, there is no guarantee that they will execute
    such agreements. Nor is there any guarantee that, even if such entities execute such agreements with us, they will not seek
    recourse against the trust account or that a court would conclude that such agreements are legally enforceable.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-right: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-top: 8pt; padding-left: 12pt; text-align: justify">The holders of the insider shares and private units
    will not participate in any liquidation distribution with respect to such securities.</TD></TR>
</TABLE>
</div>
<P STYLE="margin: 0">&nbsp;</P>

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

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<P STYLE="margin: 0">&nbsp;</P>
<div STYLE="BORDER:solid BLACK 1px;padding:1%;width:100%"><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="padding-right: 5.4pt; text-align: justify; width: 30%">&nbsp;</TD>
    <TD STYLE="padding-left: 12pt; text-align: justify; width: 70%"><P STYLE="margin: 0pt 0">Bing Lin, our Chairman and Chief Executive Officer, has contractually agreed pursuant to a written agreement
with us that, if we liquidate the trust account prior to the consummation of a business combination, it will be liable to ensure
that the proceeds in the trust account are not reduced by the claims of target businesses or claims of vendors or other entities
that are owed money by us for services rendered or contracted for or products sold to us. Accordingly, if a claim brought by a
target business or vendor did not exceed the amount of funds available to us outside of the trust account, Bing Lin would not have
any obligation to indemnify such claims as they would be paid from such available funds. However, if a claim exceeded such amounts,
the only exceptions to Bing Lin&rsquo;s obligations to pay such claim would be if the party executed an agreement waiving any right,
title, interest or claim of any kind they have in or to any monies held in the trust account. We cannot assure you that Bing Lin
will be able to satisfy these obligations if he is required to do so. Therefore, we cannot assure you that the per-share distribution
from the trust account, if we liquidate the trust account because we have not completed a business combination within the required
time period, and assuming that we do not extend out life beyond 15 months prior to a business combination, will not be less than
$10.00.</P> </TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 8pt; padding-right: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-top: 8pt; padding-left: 12pt; text-align: justify">We will pay the costs of liquidating the trust account
    from our remaining assets outside of the trust account. If such funds are insufficient, Shareholder Value Fund, our sponsor,
    has contractually agreed to advance us the funds necessary to complete such liquidation (currently anticipated to be no more
    than approximately $18,500) and has contractually agreed not to seek repayment for such expenses.</TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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

<P STYLE="font: bold 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">In making your decision on whether to
invest in our securities, you should take into account the special risks we face as a blank check company, as well as the fact
that this offering is not being conducted in compliance with Rule 419 promulgated under the Securities Act and, therefore, you
will not be entitled to protections normally afforded to investors in Rule 419 blank check offerings. For additional information
concerning how Rule 419 blank check offerings differ from this offering, please see &ldquo;Proposed Business &mdash; Comparison
to offerings of blank check companies subject to Rule 419.&rdquo; You should carefully consider these and the other risks set
forth in the section entitled &ldquo;Risk Factors&rdquo; beginning on page 19 of this prospectus.</P>
</div>
<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>

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


<div STYLE="BORDER:solid BLACK 1px;padding:1%;width:100%"><P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a002_v1"></A>SUMMARY
                                         FINANCIAL DATA</P>

<P STYLE="font: bold 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">The following table summarizes the relevant
financial data for our business and should be read with our financial statements, which are included in this prospectus. We have
not had any significant operations to date, so only balance sheet data are presented.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">July 17, 2017</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Actual</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><B>As Adjusted<SUP>(1)</SUP></B></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Balance Sheet Data:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 74%; text-align: left">Working capital (deficiency)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">(87,866</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">180,512,728</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Total assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">325,542</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">180,512,728</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Total liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">312,914</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Value of ordinary shares subject to possible conversion/tender</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">175,512,720</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Shareholders&rsquo; equity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,628</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,000,008</TD><TD STYLE="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>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></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 STYLE="text-align: justify"><P STYLE="margin: 0pt 0">Includes the $4,750,000 we will receive from the sale of the private units.</P>


</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The &ldquo;as adjusted&rdquo; information
gives effect to the sale of the units we are offering, including the application of the related gross proceeds and the payment
of the estimated remaining costs from such sale and the repayment of the accrued and other liabilities required to be repaid.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The &ldquo;as adjusted&rdquo; working
capital and total assets amounts include the $180,000,000 to be held in the trust account, which, except for limited situations
described in this prospectus, will be available to us only upon the consummation of a business combination within the time period
described in this prospectus. If a business combination is not so consummated, the trust account, less amounts we are permitted
to withdraw as described in this prospectus, will be distributed solely to our public shareholders (subject to our obligations
under Cayman Islands law to provide for claims of creditors).</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">We will consummate our initial business
combination only if we have net tangible assets of at least $5,000,001 upon such consummation and, solely if we seek shareholder
approval, a majority of the issued and outstanding ordinary shares voted are voted in favor of the business combination.&nbsp;</P>

</div>


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

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

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


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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a003_v1"></A>RISK FACTORS</P>

<P STYLE="font: bold 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">An investment in our securities involves
a high degree of risk. You should consider carefully the material risks described below, which we believe represent the material
risks related to the offering, together with the other information contained in this prospectus, before making a decision to invest
in our units. This prospectus also contains forward-looking statements that involve risks and uncertainties. Our actual results
could differ materially from those anticipated in the forward-looking statements as a result of specific factors, including the
risks described below.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Risks Associated with Our Business</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have no operating history
and, accordingly, you will not have any basis on which to evaluate our ability to achieve our business objective.</P>

<P STYLE="font: italic bold 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">We have no operating results to date.
Therefore, our ability to commence operations is dependent upon obtaining financing through the public offering of our securities.
Since we do not have an operating history, you will have no basis upon which to evaluate our ability to achieve our business objective,
which is to acquire an operating business. We have not conducted any discussions and we have no plans, arrangements or understandings
with any prospective acquisition candidates. We will not generate any revenues until, at the earliest, after the consummation
of a business combination.</P>

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

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

<P STYLE="font: italic bold 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">The report of our independent registered
public accountants on our financial statements includes an explanatory paragraph stating that our ability to continue as a going
concern is dependent on the consummation of this offering. The financial statements do not include any adjustments that might
result from our inability to consummate this offering or our ability to continue as a going concern. Moreover, there is no assurance
that we will consummate our initial business combination. These factors raise substantial doubt about our ability to continue
as a going concern.</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"><B><I>If we are unable to consummate
a business combination, our public shareholders may be forced to wait more than 15 months (or 18 months if we have extended the
period of time as described in this prospectus) before receiving liquidation distributions.</I></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: justify">We have 15 months from the consummation
of this offering in which to complete a business combination (or 18 months if we have extended the period of time as described
in this prospectus). We have no obligation to return funds to investors prior to such date unless we consummate a business combination
prior thereto and only then in cases where investors have sought to convert their shares. Only after the expiration of this full
time period will public shareholders be entitled to liquidation distributions if we are unable to complete a business combination.
Accordingly, investors&rsquo; funds may be unavailable to them until after such date and to liquidate your investment, you may
be forced to sell your securities potentially at a loss.</P>



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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The requirement that we complete
an initial business combination within a specific period of time may give potential target businesses leverage over us in negotiating
a business transaction.</P>

<P STYLE="font: italic bold 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">We have 15 months from the consummation
of this offering to complete an initial business combination (or 18 months if we have extended the period of time as described
in this prospectus). Any potential target business with which we enter into negotiations concerning a business combination will
be aware of this requirement. Consequently, such target business may obtain leverage over us in negotiating a business combination,
knowing that if we do not complete a business combination with that particular target business, we may be unable to complete a
business combination with any other target business. This risk will increase as we get closer to the time limits referenced above.</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>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">You will not be entitled to
protections normally afforded to investors of blank check companies.</P>

<P STYLE="font: italic bold 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">Since the net proceeds of this offering
are intended to be used to complete a 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 United States securities laws. However, since we will have net tangible assets
in excess of $5,000,000 upon the successful consummation of this offering and will file a Current Report on Form 8-K, including
an audited balance sheet demonstrating this fact, we are exempt from rules promulgated by the SEC to protect investors of blank
check companies such as Rule 419. Accordingly, investors will not be afforded the benefits or protections of those rules which
would, for example, completely restrict the transferability of our securities, restrict the use of interest earned on the funds
held in the trust account and require us to complete a business combination within 18 months from the closing of the offering.
Because we are not subject to Rule 419, our units will be immediately tradable, we will be entitled to withdraw amounts from the
funds held in the trust account prior to the completion of a business combination and we may have more time to complete an initial
business combination.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We may issue ordinary or preferred
shares or debt securities to complete a business combination, which would reduce the equity interest of our shareholders and likely
cause a change in control of our ownership.</P>

<P STYLE="font: italic bold 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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our memorandum and articles of association
currently authorize the issuance of up to 200,000,000 ordinary shares, par value $.0001 per share, and 2,000,000 preferred shares,
par value $.0001 per share. Immediately after this offering and the purchase of the private units (assuming no exercise of the
underwriters&rsquo; over-allotment option), there will be 164,500,000 authorized but unissued ordinary shares available for issuance
(after appropriate reservation for the issuance of the shares underlying the private units and public and private warrants and
rights and the issuance of the securities underlying the underwriters&rsquo; purchase option). Although we have no commitment
as of the date of this offering, we may issue a substantial number of additional ordinary shares or preferred shares, or a combination
of ordinary shares and preferred shares, to complete a business combination. The issuance of additional ordinary shares or preferred
shares:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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">&#9679;</TD><TD STYLE="text-align: justify">may significantly
                                         reduce the equity interest of investors in this offering;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">may subordinate the
                                         rights of holders of ordinary shares if we issue preferred shares with rights senior
                                         to those afforded to our ordinary shares;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">may 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</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">may adversely affect
                                         prevailing market prices for our ordinary shares.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Similarly, if we issue debt securities,
it could result in:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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">&#9679;</TD><TD STYLE="text-align: justify">default and foreclosure
                                         on our assets if our operating revenues after a business combination are insufficient
                                         to repay our debt obligations;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">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;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">our immediate payment
                                         of all principal and accrued interest, if any, if the debt security is payable on demand;
                                         and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">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.</TD></TR></TABLE>

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

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

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We may be unable to obtain
additional financing, if required, to complete a business combination or to fund the operations and growth of the target business,
which could compel us to restructure or abandon a particular business combination.</P>

<P STYLE="font: italic bold 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">Since we have not yet identified any prospective
target business, we cannot ascertain the capital requirements for any particular transaction. If the net proceeds of this offering
prove to be insufficient, either because of the size of the business combination, the depletion of the available net proceeds
in search of a target business, or the obligation to convert into cash (or purchase in any tender offer) a significant number
of shares from dissenting shareholders, we will be required to seek additional financing. Such financing may not be available
on acceptable terms, if at all. To the extent that additional financing proves to be unavailable when needed to consummate a particular
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, if we consummate a business combination, we may require additional
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 a business combination.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If third parties bring claims
against us, the proceeds held in trust could be reduced and the per-share liquidation price received by shareholders may be less
than $10.00.</P>

<P STYLE="font: italic bold 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">Our placing of funds in trust may not
protect those funds from third party claims against us. Although we will seek to have all vendors and service providers we engage
and prospective target businesses we negotiate with 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, they may not execute such agreements.
Furthermore, even if such entities execute such agreements with us, they may seek recourse against the monies held in the trust
account. A court may not uphold the validity of such agreements. Accordingly, the proceeds held in trust could be subject to claims
which could take priority over those of our public shareholders. If we liquidate the trust account before the completion of a
business combination, <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bing Lin, our Chairman and Chief
Executive Officer, has agreed that he will be liable to ensure that the proceeds in the trust account are not reduced by the claims
of target businesses or claims of vendors or other entities that are owed money by us for services rendered or contracted for
or products sold to us and which have not executed a waiver agreement. However, it may not be able to meet such obligation. Therefore,
the per-share distribution from the trust account in such a situation may be less than $10.00, plus interest, due to such claims.</FONT></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">Additionally, if we are forced to file
a bankruptcy case or an involuntary bankruptcy case is filed against us which is not dismissed, or if we otherwise enter compulsory
or court supervised liquidation, 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, we may not be able to return to our public shareholders at least
$10.00 per share.</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>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our shareholders may be held
liable for claims by third parties against us to the extent of distributions received by them.</P>

<P STYLE="font: italic bold 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">Our amended and restated memorandum
and articles of association provide that we will continue in existence only until 15 (or 18) months from the consummation of this
offering if a business combination has not been consummated by such time. If we are unable to complete an initial business combination
during such time period, it will trigger our automatic winding up, dissolution and liquidation. As such, our shareholders could
potentially be liable for any claims to the extent of distributions received by them pursuant to such process and any liability
of our shareholders may extend beyond the date of such distribution. Accordingly, we cannot assure you that third parties, or
us under the control of an official liquidator, will not seek to recover from our shareholders amounts owed to them by us.</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">If we are unable to consummate a transaction
within the required time period, upon notice from us, the trustee of the trust account will distribute the amount in our trust
account to our public shareholders. Concurrently, we shall pay, or reserve for payment, from funds not held in trust, our liabilities
and obligations, although we cannot assure you that there will be sufficient funds for such purpose. If there are insufficient
funds held outside the trust account for such purpose, <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bing
Lin, our Chairman and Chief Executive Officer, has agreed that he will be liable to ensure that the proceeds in the trust account
are not reduced by the claims of target businesses or claims of vendors or other entities that are owed money by us for services
rendered or contracted for or products sold to us and which have not executed a waiver agreement.</FONT></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">If we are forced to enter into an insolvent
liquidation, any distributions received by shareholders could be viewed as an unlawful payment if it was proved that immediately
following the date on which the distribution was made, we were unable to pay our debts as they fall due in the ordinary course
of business. As a result, a liquidator could seek to recover all amounts received by our shareholders. Furthermore, our directors
may be viewed as having breached their fiduciary duties to us or our creditors and/or may have acted in bad faith, thereby exposing
themselves and our company to claims, by paying public shareholders from the trust account prior to addressing the claims of creditors.
We cannot assure you that claims will not be brought against us for these reasons. We and our directors and officers who knowingly
and willfully authorized or permitted any distribution to be paid out of our share premium account while we were unable to pay
our debts as they fall due in the ordinary course of business would be guilty of an offense and may be liable to pay a fine of
US$18,292.68 and subject to imprisonment for five years in the Cayman Islands.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Holders of warrants and
rights will not have redemption rights if we are unable to complete an initial business combination within the required time period.</P>

<P STYLE="font: italic bold 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">If we are unable to complete an initial
business combination within the required time period and we redeem the funds held in the trust account, the warrants and rights
will expire and holders will not receive any of such proceeds with respect to the warrants or rights.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have no obligation to net
cash settle the warrants.</P>

<P STYLE="font: italic bold 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">In no event will we have any obligation
to net cash settle the warrants or rights. Accordingly, the warrants and rights may expire worthless.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If we do not maintain a current
and effective prospectus relating to the ordinary shares issuable upon exercise of the redeemable warrants, public holders will
only be able to exercise such redeemable warrants on a &ldquo;cashless basis&rdquo; which would result in a fewer number of shares
being issued to the holder had such holder exercised the redeemable warrants for cash.</P>

<P STYLE="font: italic bold 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">Except as set forth below, if we do not
maintain a current and effective prospectus relating to the ordinary shares issuable upon exercise of the warrants at the time
that holders wish to exercise such warrants, they will only be able to exercise them on a &ldquo;cashless basis,&rdquo; provided
that an exemption from registration is available. As a result, the number of ordinary shares that a holder will receive upon exercise
of its warrants will be fewer than it would have been had such holder exercised its warrant for cash. Further, if an exemption
from registration is not available, holders would not be able to exercise their warrants on a cashless basis and would only be
able to exercise their warrants for cash if a current and effective prospectus relating to the ordinary shares issuable upon exercise
of the warrants is available. Under the terms of the warrant agreement, we have agreed to use our best efforts to meet these conditions
and to maintain a current and effective prospectus relating to the ordinary shares issuable upon exercise of the warrants until
the expiration of the warrants. However, we cannot assure you that we will be able to do so. If we are unable to do so, the potential
&ldquo;upside&rdquo; of the holder&rsquo;s investment in our company may be reduced or the warrants may expire worthless. Notwithstanding
the foregoing, the private warrants may be exercisable for unregistered ordinary shares for cash even if the prospectus relating
to the ordinary shares issuable upon exercise of the warrants is not current and effective.</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>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An investor will only be able
to exercise a warrant if the issuance of ordinary shares upon such exercise has been registered or qualified or is deemed exempt
under the securities laws of the state of residence of the holder of the warrants.</P>

<P STYLE="font: italic bold 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">No warrants will be exercisable for cash
and we will not be obligated to issue ordinary shares unless the ordinary shares issuable upon such exercise have been registered
or qualified or deemed to be exempt under the securities laws of the state of residence of the holder of the warrants. At the
time that the warrants become exercisable, we expect to continue to be listed on a national securities exchange, which would provide
an exemption from registration in every state. However, we cannot assure you of this fact. If the ordinary shares issuable upon
exercise of the warrants are not qualified or exempt from qualification in the jurisdictions in which the holders of the warrants
reside, the warrants may be deprived of any value, the market for the warrants may be limited and they may expire worthless if
they cannot be sold.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our management&rsquo;s ability
to require holders of our redeemable warrants to exercise such redeemable warrants on a cashless basis will cause holders to receive
fewer ordinary shares upon their exercise of the redeemable warrants than they would have received had they been able to exercise
their redeemable warrants for cash.</P>

<P STYLE="font: italic bold 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">If we call our warrants for redemption
after the redemption criteria described elsewhere in this prospectus have been satisfied, our management will have the option
to require any holder that wishes to exercise his warrants (including any warrants held by our initial shareholders or their permitted
transferees) to do so on a &ldquo;cashless basis.&rdquo; If our management chooses to require holders to exercise their warrants
on a cashless basis, the number of ordinary shares received by a holder upon exercise will be fewer than it would have been had
such holder exercised his warrants for cash. This will have the effect of reducing the potential &ldquo;upside&rdquo; of the holder&rsquo;s
investment in our company.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We may amend the terms of
the warrants in a way that may be adverse to holders with the approval by the holders of a majority of the then outstanding warrants.</P>

<P STYLE="font: italic bold 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">Our warrants will be issued in registered
form under a warrant agreement between Continental Stock Transfer &amp; Trust Company, as warrant agent, and us. The warrant agreement
provides that the terms of the warrants may be amended without the consent of any holder to cure any ambiguity or correct any
defective provision. The warrant agreement requires the approval by the holders of a majority of the then outstanding warrants
(including the private warrants) 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; text-align: justify">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Since we have not yet selected
a particular industry or target business with which to complete a business combination, we are unable to currently ascertain the
merits or risks of the industry or business in which we may ultimately operate.</P>

<P STYLE="font: italic bold 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">While we intend to focus our search for
target businesses on specific locations as described in this prospectus, we are not limited to those locations and may consummate
a business combination with a company in any location or industry we choose. Accordingly, there is no current basis for you to
evaluate the possible merits or risks of the particular industry in which we may ultimately operate or the target business which
we may ultimately acquire. To the extent we complete a business combination with a financially unstable company or an entity in
its development stage, we may be affected by numerous risks inherent in the business operations of those entities. If we complete
a business combination with an entity in an industry characterized by a high level of risk, we may be affected by the currently
unascertainable risks of that industry. Although our management will endeavor to evaluate the risks inherent in a particular industry
or target business, we cannot assure you that we will properly 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 target business.</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>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The requirement that the target
business or businesses that we acquire must collectively have a fair market value equal to at least 80% of the balance of the
funds in the trust account at the time of the execution of a definitive agreement for our initial business combination may limit
the type and number of companies that we may complete such a business combination with.</P>

<P STYLE="font: italic bold 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">Pursuant to the Nasdaq listing rules,
the target business or businesses that we acquire must collectively have a fair market value equal to at least 80% of the balance
of the funds in the trust account at the time of the execution of a definitive agreement for our initial business combination.
This restriction may limit the type and number of companies with which we may complete a business combination. If we are unable
to locate a target business or businesses that satisfy this fair market value test, we may be forced to liquidate and you will
only be entitled to receive your <I>pro rata</I> portion of the funds in the trust account.</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">If Nasdaq delists our securities from
trading on its exchange after this offering, we would not be required to satisfy the fair market value requirement described above
and could complete a business combination with a target business having a fair market value substantially below 80% of the balance
in the trust account.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our ability to successfully
effect a 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 a business combination. While we intend to closely scrutinize any individuals we engage after
a business combination, we cannot assure you that our assessment of these individuals will prove to be correct.</P>

<P STYLE="font: italic bold 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">Our ability to successfully effect a business
combination is dependent upon the efforts of our key personnel. We believe that our success depends on the continued service of
our key personnel, at least until we have consummated our initial business combination. We cannot assure you that any of our key
personnel will remain with us for the immediate or foreseeable future. In addition, none of our officers are required to commit
any specified amount of time to our affairs and, accordingly, they 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 employment agreements with, or key-man insurance on the life of, any of our officers. The unexpected loss of the
services of our key personnel could have a detrimental effect on us.</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">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 a business combination, it is likely that some or all of the management of the
target business will remain in place or be hired after consummation of the business combination. While we intend to closely scrutinize
any individuals we engage after a 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 public company which could cause us to
have to expend time and resources helping them become familiar with such requirements. 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; text-align: justify">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our officers and directors
may not have significant experience or knowledge regarding the jurisdiction or industry of the target business we may seek to
acquire.</P>

<P STYLE="font: italic bold 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">While we intend to focus our search for
target businesses within the locations and industries as described in this prospectus, we may consummate a business combination
with a target business in any geographic location or industry we choose. We cannot assure you that our officers and directors
will have enough experience or have sufficient knowledge relating to the jurisdiction of the target or its industry to make an
informed decision regarding a business combination. If we become aware of a potential business combination outside of the geographic
location or industry where our officers and directors have the most experience, our management may retain consultants and advisors
with experience in such industries to assist in the evaluation of such business combination and in our determination of whether
or not to proceed with such a business combination. However, our management is not required to engage consultants or advisors
in any situation. If they do not engage any consultants or advisors to assist them in the evaluation of a particular target business
or business combination, our management may not properly analyze the risks attendant with such target business or business combination.
Even if our management does engage consultants or advisors to assist in the evaluation of a particular target business or business
combination, we cannot assure you that such consultants or advisors will properly analyze the risks attendant with such target
business or business combination. As a result, we may enter into a business combination that is not in our shareholders&rsquo;
best interests.</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>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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 a 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.</P>

<P STYLE="font: italic bold 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">Our key personnel will be able to remain
with the company after the consummation of a business combination only if they are able to negotiate employment or consulting
agreements or other arrangements 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 the company after the consummation of the business combination.
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">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our officers and directors
will allocate their time to other businesses thereby potentially limiting the amount of time they devote to our affairs. This
conflict of interest could have a negative impact on our ability to consummate our initial business combination.</P>

<P STYLE="font: italic bold 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">Our officers and directors are not required
to commit their full time to our affairs, which could create a conflict of interest when allocating their time between our operations
and their other commitments. We presently expect each of our employees to devote such amount of time as they reasonably believe
is necessary to our business (which could range from only a few hours a week while we are trying to locate a potential target
business to a majority of their time as we move into serious negotiations with a target business for a business combination).
We do not intend to have any full time employees prior to the consummation of our initial business combination. All of our officers
and directors are engaged in several other business endeavors and are not obligated to devote any specific number of hours to
our affairs. If our officers&rsquo; and directors&rsquo; other business affairs require them to devote more substantial amounts
of time to such affairs, it could limit their ability to devote time to our affairs and could have a negative impact on our ability
to consummate our initial business combination. We cannot assure you these conflicts will be resolved in our favor.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our officers and directors
have pre-existing fiduciary and contractual obligations and accordingly, may have conflicts of interest in determining to which
entity a particular business opportunity should be presented.</P>

<P STYLE="font: italic bold 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">Our officers and directors have pre-existing
fiduciary and contractual obligations to other companies, including other companies that are engaged in business activities similar
to those intended to be conducted by us. Accordingly, they may participate in transactions and have obligations that may be in
conflict or competition with our consummation of our initial business combination. As a result, a potential target business may
be presented by our management team to another entity prior to its presentation to us and we may not be afforded the opportunity
to engage in a transaction with such target business. For a more detailed description of the pre-existing fiduciary and contractual
obligations of our management team, and the potential conflicts of interest that such obligations may present, see the section
titled &ldquo;Management &mdash; Conflicts of Interest.&rdquo;</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our officers&rsquo; and directors&rsquo;
personal and financial interests may influence their motivation in determining whether a particular target business is appropriate
for a business combination.</P>

<P STYLE="font: italic bold 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">Our officers and directors have waived
their right to convert (or sell to us in any tender offer) their insider shares or any other ordinary shares acquired in this
offering or thereafter (although none of these insiders have indicated any intention to purchase units in this offering or thereafter),
or to receive distributions with respect to their insider shares upon our liquidation if we are unable to consummate our initial
business combination. Our sponsor, which is affiliated with certain of our officers, has also waived its right to convert (or
sell to us in any tender offer) its private shares or any other ordinary shares acquired in this offering or thereafter (although
it has not indicated any intention to purchase units in this offering or thereafter), or to receive distributions with respect
to their private shares upon our liquidation if we are unable to consummate our initial business combination. Accordingly, these
securities will be worthless if we do not consummate our initial business combination. In addition, our officers and directors
may loan funds to us after this offering and may be owed reimbursement for expenses incurred in connection with certain activities
on our behalf which would only be repaid if we complete an initial business combination. The personal and financial interests
of our directors and officers may influence their motivation in timely identifying and selecting a target business and completing
a business combination. Consequently, our directors&rsquo; and officers&rsquo; discretion in identifying and selecting a suitable
target business may result in a conflict of interest when determining whether the terms, conditions and timing of a particular
business combination are appropriate and in our shareholders&rsquo; best interest. If this were the case, it would be a breach
of their fiduciary duties to us as a matter of Cayman Islands law and we might have a claim against such individuals. However,
we might not ultimately be successful in any claim we may make against them for such reason.</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>

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

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

<P STYLE="font: italic bold 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">We anticipate that our securities will
be listed on the NASDAQ Capital Market, a national securities exchange, upon consummation of this offering. Although, after giving
effect to this offering, we meet on a pro forma basis the minimum initial listing standards of Nasdaq, which generally only requires
that we meet certain requirements relating to shareholders&rsquo; equity, market capitalization, aggregate market value of publicly
held shares and distribution requirements, we cannot assure you that our securities will continue to be listed on Nasdaq in the
future prior to an initial business combination. Additionally, in connection with our initial business combination, it is likely
that Nasdaq will require us to file a new initial listing application and meet its initial listing requirements as opposed to
its more lenient continued listing requirements. 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; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If Nasdaq delists our securities from
trading on its exchange, we could face significant material adverse consequences, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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">&#9679;</TD><TD STYLE="text-align: justify">a limited availability
                                         of market quotations for our securities;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">reduced liquidity
                                         with respect to our securities;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">a determination that
                                         our ordinary shares are &ldquo;penny stock&rdquo; which will require brokers trading
                                         in our ordinary shares to adhere to more stringent rules, possibly resulting in a reduced
                                         level of trading activity in the secondary trading market for our ordinary shares;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">a limited amount of
                                         news and analyst coverage for our company; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">a decreased ability
                                         to issue additional securities or obtain additional financing in the future.</TD></TR></TABLE>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We may only be able to complete
one business combination with the proceeds of this offering, which will cause us to be solely dependent on a single business which
may have a limited number of products or services.</P>

<P STYLE="font: italic bold 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">We may only be able to complete one business
combination with the proceeds of this offering. By consummating a business combination with only a single entity, our lack of
diversification may subject us to numerous economic, competitive and regulatory developments. 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; text-align: justify">&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">&#9679;</TD><TD STYLE="text-align: justify">solely dependent upon
                                         the performance of a single business, or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">dependent upon the
                                         development or market acceptance of a single or limited number of products, processes
                                         or services.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This lack of diversification may subject
us to numerous economic, competitive and regulatory developments, any or all of which may have a substantial adverse impact upon
the particular industry in which we may operate subsequent to a 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"></P>

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<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">Alternatively, if we determine to simultaneously
acquire several businesses and such businesses 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 the 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; text-align: justify">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The ability of our public
shareholders to exercise their conversion rights or sell their public shares to us in a tender offer may not allow us to effectuate
the most desirable business combination or optimize our capital structure.</P>

<P STYLE="font: italic bold 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">If our business combination requires us
to use substantially all of our cash to pay the purchase price, because we will not know how many public shareholders may exercise
conversion rights or seek to sell their public shares to us in a tender offer, we may either need to reserve part of the trust
account for possible payment upon such conversion, or we may need to arrange third party financing to help fund our business transaction.
In the event that the business combination involves the issuance of our shares as consideration, we may be required to issue a
higher percentage of our shares to make up for a shortfall in funds. Raising additional funds to cover any shortfall may involve
dilutive equity financing or incurring indebtedness at higher than desirable levels. This may limit our ability to effectuate
the most attractive business combination available to us.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We may be unable to consummate
a business combination if a target business requires that we have cash in excess of the minimum amount we are required to have
at closing and public shareholders may have to remain shareholders of our company and wait until our liquidation to receive a
pro rata share of the trust account or attempt to sell their shares in the open market.</P>

<P STYLE="font: italic bold 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">A potential target may make it a closing
condition to our business combination that we have a certain amount of cash in excess of the $5,000,001 of net tangible assets
we are required to have pursuant to our organizational documents available at the time of closing. If the number of our shareholders
electing to exercise their conversion rights or sell their shares to us in a tender offer has the effect of reducing the amount
of money available to us to consummate a business combination below such minimum amount required by the target business and we
are not able to locate an alternative source of funding, we will not be able to consummate such business combination and we may
not be able to locate another suitable target within the applicable time period, if at all. In that case, public shareholders
may have to remain shareholders of our company and wait the full 15 (or 18) months in order to be able to receive a <I>pro rata
</I>portion of the trust account, or attempt to sell their shares in the open market prior to such time, in which case they may
receive less than a <I>pro rata</I> share of the trust account for their shares.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our public shareholders may
not be afforded an opportunity to vote on our proposed business combination, which means we may consummate our initial business
combination even though a majority of our public shareholders do not support such a combination.</P>

<P STYLE="font: italic bold 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">We intend to hold a shareholder vote before
we consummate our initial business combination. However, if a shareholder vote is not required, for business or legal reasons,
we may conduct conversions via a tender offer and not offer our shareholders the opportunity to vote on a proposed business combination.
Accordingly, we may consummate our initial business combination even if holders of a majority of our public shares do not approve
of the business combination.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with any meeting
held to approve an initial business combination, we will offer each public shareholder the option to vote in favor of a proposed
business combination and still seek conversion of his, her or its public shares, which may make it more likely that we will consummate
a business combination.</P>

<P STYLE="font: italic bold 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">In connection with any meeting held to
approve an initial business combination, we will offer each public shareholder the right to have his, her or its public shares
converted to cash (subject to the limitations described elsewhere in this prospectus) regardless of whether such shareholder votes
for or against such proposed business combination. Furthermore, we will consummate our initial business combination only if we
have net tangible assets of at least $5,000,001 upon such consummation and a majority of the issued and outstanding shares voted
are voted in favor of the business combination. Accordingly, public shareholders owning shares sold in this offering may exercise
their conversion rights and we could still consummate a proposed business combination so long as a majority of shares voted at
the meeting are voted in favor of the proposed business combination. This is different than other similarly structured blank check
companies where shareholders are offered the right to convert their shares only when they vote against a proposed business combination.
This is also different than other similarly structured blank check companies where there is a specific number of shares sold in
the offering which must not exercise conversion rights for the company to complete a business combination. The lack of such a
threshold and the ability to seek conversion while voting in favor of a proposed business combination may make it more likely
that we will consummate 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"></P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with any shareholder
meeting called to approve a proposed initial business combination, we may require shareholders who wish to convert their public
shares to comply with specific requirements for conversion that may make it more difficult for them to exercise their conversion
rights prior to the deadline for exercising their rights.</P>

<P STYLE="font: italic bold 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">In connection with any shareholder
meeting called to approve a proposed initial business combination, each public shareholder will have the right, regardless of
whether it is voting for or against such proposed business combination, to demand that we convert its public shares into a share
of the trust account. Such conversion will be effectuated under Cayman Islands law and our amended and restated memorandum and
articles of association as a redemption of the shares, with the redemption price to be paid being the applicable <I>pro rata</I>
portion of the monies held in the trust account. We may require public shareholders who wish to convert their public shares in
connection with a proposed business combination to either tender their certificates (if any) to our transfer agent or to deliver
their shares to the transfer agent electronically using the Depository Trust Company&rsquo;s (&ldquo;DTC&rdquo;) DWAC (Deposit/Withdrawal
At Custodian) System, at the holder&rsquo;s option, at any time at or prior to the vote taken at the shareholder meeting relating
to such business combination. In order to obtain a physical share certificate, a shareholder&rsquo;s broker and/or clearing broker,
DTC and our transfer agent will need to act to facilitate this request. It is our understanding that shareholders should generally
allot at least two weeks to obtain physical certificates from the transfer agent. However, because we do not have any control
over this process or over the brokers or DTC, it may take significantly longer than two weeks to obtain a physical share certificate.
It is also our understanding that it takes a short time to deliver shares through the DWAC System. However, this too may not be
the case. Accordingly, if it takes longer than we anticipate for shareholders to deliver their shares, shareholders who wish to
convert may be unable to meet the deadline for exercising their conversion rights and thus may be unable to convert their shares.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Investors may not have sufficient
time to comply with the delivery requirements for conversion.</P>

<P STYLE="font: italic bold 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">Pursuant to our memorandum and articles
of association, we are required to give a minimum of only ten days&rsquo; notice for each general meeting. As a result, if we
require public shareholders who wish to convert their public shares into the right to receive a <I>pro rata</I> portion of the
funds in the trust account to comply with specific delivery requirements for conversion, holders may not have sufficient time
to receive the notice and deliver their shares for conversion. Accordingly, investors may not be able to exercise their conversion
rights and may be forced to retain our securities when they otherwise would not want to.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If we require public shareholders
who wish to convert their public shares to comply with the delivery requirements for conversion, such converting shareholders
may be unable to sell their securities when they wish to in the event that the proposed business combination is not approved.</P>

<P STYLE="font: italic bold 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">If we require public shareholders who
wish to convert their public shares to comply with specific delivery requirements for conversion described above and such proposed
business combination is not consummated, we will promptly return such certificates to the tendering public shareholders. Accordingly,
investors who attempted to convert their shares in such a circumstance will be unable to sell their securities after the failed
acquisition until we have returned their securities to them. The market price for our shares may decline during this time and
you may not be able to sell your securities when you wish to, even while other shareholders that did not seek conversion may be
able to sell their securities.</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>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Because of our limited resources
and structure, other companies may have a competitive advantage and we may not be able to consummate an attractive business combination.</P>

<P STYLE="font: italic bold 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">We expect to encounter intense competition
from entities other than blank check companies having a business objective similar to ours, including venture capital funds, leveraged
buyout funds and operating businesses competing for acquisitions. Many of these entities are well established and have extensive
experience in identifying and effecting business combinations directly or through affiliates. Many of these competitors possess
greater technical, human and other resources than we do and our financial resources will be relatively limited when contrasted
with those of many of these competitors. While we believe that there are numerous potential target businesses that we could acquire
with the net proceeds of this offering, our ability to compete in acquiring certain sizable target businesses will be limited
by our available financial resources. This inherent competitive limitation gives others an advantage in pursuing the acquisition
of certain target businesses. Furthermore, seeking shareholder approval of a business combination may delay or prevent the consummation
of a transaction, a risk a target business may not be willing to accept. Additionally, our outstanding warrants, rights and unit
purchase options, and the future dilution they potentially represent, may not be viewed favorably by certain target businesses.
Any of the foregoing may place us at a competitive disadvantage in successfully negotiating a business combination.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our initial shareholders control
a substantial interest in us and thus may influence certain actions requiring a shareholder vote.</P>

<P STYLE="font: italic bold 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">Upon consummation of our offering, our
initial shareholders will collectively own approximately 21.7% of our issued and outstanding ordinary shares (assuming they do
not purchase any units in this offering). None of our officers, directors, initial shareholders or their affiliates has indicated
any intention to purchase units in this offering or any units or ordinary shares from persons in the open market or in private
transactions (other than the private units). However, our officers, directors, initial shareholders or their affiliates could
determine in the future to make such purchases in the open market or in private transactions, to the extent permitted by law,
in order to assist us in consummating our initial business combination. In connection with any vote for a proposed business combination,
all of our initial shareholders, as well as all of our officers and directors, have agreed to vote the ordinary shares owned by
them immediately before this offering as well as any ordinary shares acquired in this offering or in the aftermarket in favor
of such proposed 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">There is no requirement under the Companies
Law for us to hold annual or general meetings to elect directors. Accordingly, shareholders would not have the right to such a
meeting or election of directors, unless the holders of not less than 10% in par value capital of our company request such a meeting.
As a result, it is unlikely that there will be an annual general meeting to elect new directors prior to the consummation of a
business combination, in which case all of the current directors will continue in office until at least the consummation of the
business combination. Accordingly, you may not be able to exercise your voting rights for up to 18 months. If there is an annual
general meeting, as a consequence of our &ldquo;staggered&rdquo; board of directors, only a minority of the board of directors
will be considered for election and our initial shareholders, because of their ownership position, will have considerable influence
regarding the outcome. Accordingly, our initial shareholders will continue to exert control at least until the consummation of
a 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"><B><I>Our initial shareholders paid
an aggregate of $31,038, or approximately $0.007 per share, for the insider shares and, accordingly, you will experience immediate
and substantial dilution from the purchase of our ordinary shares.</I></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: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The difference between the public offering
price per share and the pro forma net tangible book value per share after this offering constitutes the dilution to the investors
in this offering. Our initial shareholders acquired their insider shares at a nominal price, significantly contributing to this
dilution. Upon consummation of this offering, you and the other new investors will incur an immediate and substantial dilution
of approximately 92.4% or $8.40 per share (the difference between the pro forma net tangible book value per share of $0.71, and
the initial offering price of $10.00 per share). This is because investors in this offering will be contributing approximately
97.41% of the total amount paid to us for our outstanding securities after this offering but will only own approximately 79.77%
of our outstanding securities. Accordingly, the per-share purchase price you will be paying substantially exceeds our per share
net tangible book value.</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>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our outstanding warrants,
rights and unit purchase options may have an adverse effect on the market price of our ordinary shares and make it more difficult
to effect a business combination.</P>

<P STYLE="font: italic bold 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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We will be issuing warrants that
will result in the issuance of up to 9,000,000 ordinary shares as part of the units offered by this prospectus and private
warrants that will result in the issuance of an additional 237,500 ordinary shares. We will also be issuing rights that will
result in the issuance of up to 1,800,000 ordinary shares as part of the units offered by this prospectus and private rights
that will result in the issuance of an additional 47,500 ordinary shares. We will also issue unit purchase options to
purchase 900,000 units to the representative of the underwriters which, if exercised, will result in the issuance of 990,000
ordinary shares (which includes 90,000 shares underlying rights) and warrants to purchase an additional 450,000 ordinary
shares. The potential for the issuance of a substantial number of additional shares upon exercise of the warrants and
conversion of the rights could make us a less attractive acquisition vehicle in the eyes of a target business. Such
securities, when converted, will increase the number of issued and outstanding ordinary shares and reduce the value of the
shares issued to complete the business combination. Accordingly, our warrants, rights and unit purchase options may make it
more difficult to effectuate a business combination or increase the cost of acquiring the target business. Additionally, the
sale, or even the possibility of sale, of the shares underlying the warrants, rights and unit purchase options could have an
adverse effect on the market price for our securities or on our ability to obtain future financing. If and to the extent
these warrants are exercised, you may experience dilution to your holdings.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If our shareholders exercise
their registration rights with respect to their securities, it may have an adverse effect on the market price of our ordinary
shares and the existence of these rights may make it more difficult to effect a business combination.</P>

<P STYLE="font: italic bold 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">Our initial shareholders are entitled
to make a demand that we register the resale of their insider shares at any time commencing three months prior to the date on
which their shares may be released from escrow. Additionally, the purchasers of the private units and our initial shareholders,
officers and directors are entitled to demand that we register the resale of the shares underlying the private units private warrants
and private rights and any securities our initial shareholders, officers, directors or their affiliates may be issued in payment
of working capital loans made to us at any time after we consummate a business combination. The presence of these additional securities
trading in the public market may have an adverse effect on the market price of our securities. In addition, the existence of these
rights may make it more difficult to effectuate a business combination or increase the cost of acquiring the target business,
as the shareholders of the target business may be discouraged from entering into a business combination with us or will request
a higher price for their securities because of the potential effect the exercise of such rights may have on the trading market
for our ordinary shares.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">EarlyBirdCapital may have
a conflict of interest in rendering services to us in connection with our initial business combination.</P>

<P STYLE="font: italic bold 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">We have engaged EarlyBirdCapital to assist
us in connection with our initial business combination. We will pay EarlyBirdCapital a cash fee for such services upon the consummation
of our initial business combination in an amount equal to 3.5% of the total gross proceeds raised in the offering. This financial
interest may result in EarlyBirdCapital having a conflict of interest when providing the services to us in connection with an
initial business combination.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If we are deemed to be an
investment company, we may be required to institute burdensome compliance requirements and our activities may be restricted, which
may make it difficult for us to complete a business combination.</P>

<P STYLE="font: italic bold 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">A company that, among other things, is
or holds itself out as being engaged primarily, or proposes to engage primarily, in the business of investing, reinvesting, owning,
trading or holding certain types of securities would be deemed an investment company under the Investment Company Act of 1940.
Since we will invest the proceeds held in the trust account only in United States government treasury bills, notes or bonds having
a maturity of 180 days or less or in money market funds meeting the applicable conditions under Rule 2a-7 promulgated under the
Investment Company Act of 1940 and that invest solely in United States treasuries, we believe that we will not be considered to
be an investment company pursuant to the exemption provided in Rule 3a-1 promulgated under the Investment Company Act of 1940.</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>

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<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">If we are nevertheless deemed to be an
investment company under the Investment Company Act of 1940, we may be subject to certain restrictions that may make it more difficult
for us to complete a business combination, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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">&#9679;</TD><TD STYLE="text-align: justify">restrictions on the
                                         nature of our investments; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">restrictions on the
                                         issuance of securities.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, we may have imposed upon
us certain burdensome requirements, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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">&#9679;</TD><TD STYLE="text-align: justify">registration as an
                                         investment company;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">adoption of a specific
                                         form of corporate structure; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">reporting, record
                                         keeping, voting, proxy, compliance policies and procedures and disclosure requirements
                                         and other rules and regulations.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Compliance with these additional regulatory
burdens would require additional expense that we have not provided for.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We may not seek an opinion
from an unaffiliated third party as to the fair market value of the target business we acquire.</P>

<P STYLE="font: italic bold 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">We are not required to obtain an opinion
from an unaffiliated third party that the target business we select has a fair market value in excess of at least 80% of the balance
of the trust account unless our board of directors cannot make such determination on its own. We are also not required to obtain
an opinion from an unaffiliated third party indicating that the price we are paying is fair to our shareholders from a financial
point of view unless the target is affiliated with our officers, directors, initial shareholders or their affiliates. If no opinion
is obtained, our shareholders will be relying on the judgment of our board of directors, whose collective experience in business
evaluations for blank check companies like ours is not significant. Furthermore, our directors may have a conflict of interest
in analyzing the transaction due to their personal and financial interests.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We may acquire a target business
that is affiliated with our officers, directors, initial shareholders or their affiliates.</P>

<P STYLE="font: italic bold 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">While we do not currently intend to pursue
an initial business combination with a company that is affiliated with our officers, directors, initial shareholders or their
affiliates, we are not prohibited from pursuing such a transaction, nor are we prohibited from consummating a business combination
where any of our officers, directors, initial shareholders or their affiliates acquire a minority interest in the target business
alongside our acquisition, provided in each case we obtain an opinion from an unaffiliated third party indicating that the price
we are paying is fair to our shareholders from a financial point of view. These affiliations could cause our officers or directors
to have a conflict of interest in analyzing such transactions due to their personal and financial interests.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The determination of the offering
price of our units is more arbitrary than the pricing of securities for an operating company in a particular industry.</P>

<P STYLE="font: italic bold 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">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 warrants and rights were
negotiated between us and the representative of the underwriters. Factors considered in determining the prices and terms of the
units, including the ordinary shares, warrants and rights underlying the units, include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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">&#9679;</TD><TD STYLE="text-align: justify">the history and prospects
                                         of companies whose principal business is the acquisition of other companies;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">prior offerings of
                                         those companies;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">our prospects for
                                         acquiring an operating business at attractive values;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">our capital structure;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">the per share amount
                                         of net proceeds being placed in the trust account;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">an assessment of our
                                         management and their experience in identifying operating companies; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">general conditions
                                         of the securities markets at the time of the offering.</TD></TR></TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">However, although these factors were considered,
the determination of our offering price is more arbitrary than the pricing of securities for an operating company in a particular
industry since we have no historical operations or financial results to compare them to.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Because we are incorporated
under the laws of the Cayman 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.</P>

<P STYLE="font: italic bold 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">We are an exempted company incorporated
under the laws of the Cayman Islands and certain of our officers and directors are residents of jurisdictions outside the United
States. As a result, it may be difficult for investors to effect service of process within the United States upon our directors
or executive 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; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our corporate affairs will be governed
by our amended and restated memorandum and articles of association, the Companies Law (as the same may be supplemented or amended
from time to time) or the common law of the Cayman 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 Cayman Islands law are to a large extent
governed by the common law of the Cayman Islands. The common law of the Cayman Islands is derived in part from comparatively limited
judicial precedent in the Cayman Islands as well as from English common law, the decisions of whose courts are of persuasive authority,
but are not binding on a court in the Cayman Islands. The rights of our shareholders and the fiduciary responsibilities of our
directors under Cayman Islands law are different from statutes or judicial precedent in some jurisdictions in the United States.
In particular, the Cayman Islands has a different body of securities laws as compared to the United States. In addition, Cayman
Islands companies may not have standing to initiate a shareholders derivative action in a Federal court of the United States.</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">We have been advised by our Cayman Islands
legal counsel that the courts of the Cayman Islands are unlikely (i) to recognize or enforce against us judgments of courts of
the United States predicated upon the civil liability provisions of the federal securities laws of the United States or any state;
and (ii) in original actions brought in the Cayman Islands, to impose liabilities against us predicated upon the civil liability
provisions of the federal securities laws of the United States or any state, so far as the liabilities imposed by those provisions
are penal in nature. In those circumstances, although there is no statutory enforcement in the Cayman Islands of judgments obtained
in the United States, the courts of the Cayman Islands will recognize and enforce a foreign money judgment of a foreign court
of competent jurisdiction without retrial on the merits based on the principle that a judgment of a competent foreign court imposes
upon the judgment debtor an obligation to pay the sum for which judgment has been given provided certain conditions are met. For
a foreign judgment to be enforced in the Cayman Islands, such judgment must be final and conclusive and for a liquidated sum,
and must not be in respect of taxes or a fine or penalty, inconsistent with a Cayman Islands judgment in respect of the same matter,
impeachable on the grounds of fraud or obtained in a manner, and or be of a kind the enforcement of which is, contrary to natural
justice or the public policy of the Cayman Islands (awards of punitive or multiple damages may well be held to be contrary to
public policy). A Cayman Islands Court may stay enforcement proceedings if concurrent proceedings are being brought elsewhere.</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">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 United States company.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We intend to effect a business
combination with a company located outside of the United States and if we do, we would be subject to a variety of additional risks
that may negatively impact our business operations and financial results.</P>

<P STYLE="font: italic bold 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">If we consummate a business combination
with a target business located outside of the United States, we would be subject to any special considerations or risks associated
with companies operating in the target business&rsquo; governing jurisdiction, including any of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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">&#9679;</TD><TD STYLE="text-align: justify">rules and regulations
                                         or currency redemption or corporate withholding taxes on individuals;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">tariffs and trade
                                         barriers;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">regulations related
                                         to customs and import/export matters;</TD></TR></TABLE>

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

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

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">longer payment cycles
                                         than in the United States;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">inflation;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">economic policies
                                         and market conditions;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">unexpected changes
                                         in regulatory requirements;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">challenges in managing
                                         and staffing international operations;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">tax issues, such as
                                         tax law changes and variations in tax laws as compared to the United States;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">currency fluctuations;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">challenges in collecting
                                         accounts receivable;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">cultural and language
                                         differences;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">protection of intellectual
                                         property; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">employment regulations.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We cannot assure you that we would be
able to adequately address these additional risks. If we were unable to do so, our operations might suffer.</P>

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

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

<P STYLE="font: italic bold 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">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 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; text-align: justify">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Because we must furnish our
shareholders with financial statements of the target business prepared in accordance with U.S. GAAP or IFRS as issued by the IASB
or reconciled to U.S. GAAP, we may not be able to complete an initial business combination with some prospective target businesses.</P>

<P STYLE="font: italic bold 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">We will be required to provide historical
and pro forma financial statement disclosure relating to our target business to our shareholders. 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 GAAP, or international financial reporting standards, 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 (United States), or PCAOB. The financial statements may also be required to be prepared in accordance with U.S. GAAP for
the Form 8-K announcing the closing of an initial business combination, which would need to be filed within four business days
after closing. These financial statement requirements may limit the pool of potential target businesses we may acquire.</P>

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


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

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

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<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Compliance with the Sarbanes-Oxley
Act of 2002 will require substantial financial and management resources and may increase the time and costs of completing an acquisition.</P>
<P STYLE="font: italic bold 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">Section 404 of the Sarbanes-Oxley Act
of 2002 requires that we evaluate and report on our system of internal controls and may require us to have such system audited
by an independent registered public accounting firm. If we fail to maintain the adequacy of our internal controls, we could be
subject to regulatory scrutiny, civil or criminal penalties and/or shareholder litigation. Any inability to provide reliable financial
reports could harm our business. A target business may also not be in compliance with the provisions of the Sarbanes-Oxley Act
regarding the adequacy of 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. Furthermore, any failure
to implement required new or improved controls, or difficulties encountered in the implementation of adequate controls over our
financial processes and reporting in the future, could harm our operating results or cause us to fail to meet our reporting obligations.
Inferior internal controls could also cause investors to lose confidence in our reported financial information, which could have
a negative effect on the trading price of our securities.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are an &ldquo;emerging
growth company&rdquo; and we cannot be certain if the reduced disclosure requirements applicable to emerging growth companies
will make our securities less attractive to investors.</P>

<P STYLE="font: italic bold 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">We are an &ldquo;emerging growth company,&rdquo;
as defined in the JOBS Act. We will remain an &ldquo;emerging growth company&rdquo; for up to five years. However, if our non-convertible
debt issued within a three-year period or revenues exceeds $1.07 billion, or the market value of our ordinary shares that are held
by non-affiliates exceeds $1.0 billion on the last day of the second fiscal quarter of any given fiscal year, we would cease to
be an emerging growth company as of the following fiscal year. As an emerging growth company, we are not being required to comply
with the auditor attestation requirements of section 404 of the Sarbanes-Oxley Act, we have reduced disclosure obligations regarding
executive compensation in our periodic reports and proxy statements, and we are exempt from the requirements of holding a nonbinding
advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Additionally,
as an emerging growth company, we have elected to delay the adoption of new or revised accounting standards that have different
effective dates for public and private companies until those standards apply to private companies. As such, our financial statements
may not be comparable to companies that comply with public company effective dates. We cannot predict if investors will find our
shares less attractive because we may rely on these provisions. If some investors find our shares less attractive as a result,
there may be a less active trading market for our shares and our share price may be more volatile.</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">Further, Section 102(b)(1) 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, will not adopt the new or revised standard until the time private companies
are required to 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; text-align: justify">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An investment in this offering
may involve adverse U.S. federal income tax consequences.</P>

<P STYLE="font: italic bold 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">An investment in this offering may
involve adverse U.S. federal income tax consequences. For instance, there is a risk that an investor&rsquo;s entitlement to receive
payments in excess of the investor&rsquo;s initial tax basis in our ordinary shares upon exercise of the investor&rsquo;s conversion
right or upon our liquidation of the trust account will result in constructive income to the investor, which could affect the
timing and character of income recognition and result in U.S. federal income tax liability to the investor without the investor&rsquo;s
receipt of cash from us. Furthermore, because there are no authorities that directly address instruments similar to the units
we are issuing in this offering, the allocation an investor makes with respect to the purchase price of the unit between the ordinary
shares, warrants and rights included in the units could be challenged by the IRS or the courts. See the section titled &ldquo;Taxation-United
States Federal Income Taxation&rdquo; for a summary of the material U.S. federal income tax consequences of an investment in our
securities. Prospective investors are urged to consult their own tax advisors with respect to these and other tax consequences
when purchasing, holding or disposing of our securities.</P>



<P STYLE="font: italic bold 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>

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<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">We have also not sought a ruling from
the Internal Revenue Service, or IRS, as to any U.S. federal income tax consequences described in this prospectus. The IRS may
disagree with the descriptions of U.S. federal income tax consequences described herein, and its determination may be upheld by
a court. Any such determination could subject an investor or our company to adverse U.S. federal income tax consequences that
would be different than those described in this prospectus. Accordingly, each prospective investor is urged to consult a tax advisor
with respect to the specific tax consequences of the acquisition, ownership and disposition of our securities, including the applicability
and effect of state, local, or foreign tax laws, as well as U.S. federal tax laws.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We may qualify as a passive
foreign investment company, which could result in adverse U.S. federal income tax consequences to U.S. investors.</P>

<P STYLE="font: italic bold 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">In general, we will be treated as a
passive foreign investment company (&ldquo;PFIC&rdquo;) for any taxable year in which either (1) at least 75% of our gross income
(looking through certain 25% or more-owned corporate subsidiaries) is passive income or (2) at least 50% of the average value
of our assets (looking through certain 25% or more-owned corporate subsidiaries) is attributable to assets that produce, or are
held for the production of, passive income. Passive income generally includes, without limitation, dividends, interest, rents,
royalties, and gains from the disposition of passive assets. 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 units, ordinary shares, warrants or rights, the U.S. holder
may be subject to increased U.S. federal income tax liability and may be subject to additional reporting requirements. Our actual
PFIC status for our current taxable year may depend on whether we qualify for the PFIC start-up exception (see the section of
this prospectus captioned &ldquo;Taxation &mdash; United States Federal Income Taxation &mdash; Passive Foreign Investment Company
Rules&rdquo;). Our actual PFIC status for any taxable year, however, will not be determinable until after the end of such taxable
year (or after the end of the start-up period, if later). Accordingly, there can be no assurance with respect to our status as
a PFIC for our current taxable year or any subsequent taxable year. We urge U.S. investors to consult their own tax advisors regarding
the possible application of the PFIC rules.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If our management following
a 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.</P>

<P STYLE="font: italic bold 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">Following a business combination, our
management will likely 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. We cannot assure you that management of the target business will be familiar
with United States securities laws. If new management is unfamiliar with our 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; text-align: justify">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If restrictions on repatriation
of earnings from the target business&rsquo; home jurisdiction to foreign entities are instituted, our business following a business
combination may be materially negatively affected.</P>

<P STYLE="font: italic bold 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">It is possible that following an initial
business combination, the home jurisdiction of the target business may have restrictions on repatriations of earnings or additional
restrictions may be imposed in the future. If they were, it could have a material adverse effect on our operations.</P>

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


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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a004_v1"></A>CAUTIONARY NOTE
REGARDING FORWARD-LOOKING STATEMENTS</P>

<P STYLE="font: bold 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">The statements contained in this prospectus
that are not purely historical are forward-looking statements. Our forward-looking statements include, but are not limited to,
statements regarding our or our management&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;anticipates,&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;predicts,&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 our:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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">&#9679;</TD><TD STYLE="text-align: justify">ability to identify
                                         or complete an initial business combination;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">limited operating
                                         history;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">success in retaining
                                         or recruiting, or changes required in, our officers, key employees or directors following
                                         our initial business combination;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">potential ability
                                         to obtain additional financing to complete a business combination;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">pool of prospective
                                         target businesses;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">the ability of our
                                         officers and directors to generate potential investment opportunities;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">potential change in
                                         control if we acquire one or more target businesses for shares;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">our public securities&rsquo;
                                         potential liquidity and trading;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">regulatory or operational
                                         risks associated with acquiring a target business;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">use of proceeds not
                                         held in the trust account or available to us from interest income on the trust account
                                         balance;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">financial performance
                                         following this offering; or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">listing or delisting
                                         of our securities from Nasdaq or the ability to have our securities listed on Nasdaq
                                         following our initial business combination.</TD></TR></TABLE>

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

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


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We are a company incorporated under the laws of the
Cayman Islands and administered from outside the United States, and a majority of our assets will be located outside the
United States. Our U.S. agent for service of process is Cogency Global Inc. However, it may be difficult for investors to
effect service of process on us or our officers or directors within the United States in a way that will permit a U.S. court
to have jurisdiction over 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">Our corporate affairs will be governed by our Amended and
Restated Memorandum and Articles of Association, the Cayman Islands Companies Law, and the common law of the Cayman 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 Cayman Islands law are to a large extent governed by the Cayman Islands Companies Law and the common
law of the Cayman Islands. The common law of the Cayman Islands is derived in part from comparatively limited judicial precedent
in the Cayman Islands, as well as from English common law, the decisions of whose courts are considered persuasive authority but
are not binding on a court in the Cayman Islands. The rights of our shareholders and the fiduciary responsibilities of our directors
under Cayman Islands law are not as clearly established as they would be under statutes or judicial precedent in some jurisdictions
in the United States. In particular, the Cayman 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. In addition,
Cayman Islands companies may not have standing to initiate a shareholder derivative action in a federal court 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">The Cayman Islands courts are also unlikely:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; 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>to recognize
                                         or enforce against us judgments of U.S. courts based on certain civil liability provisions
                                         of U.S. securities laws; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; 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>to impose
                                         liabilities against us, in original actions brought in the Cayman Islands, based on certain
                                         civil liability provisions of U.S. securities laws that are penal in nature.</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">We have been advised by Maples &amp; Calder that there is
no statutory recognition in the Cayman Islands of judgments obtained in the United States, although the courts of the Cayman Islands
will in certain circumstances recognize and enforce a non-penal judgment of a foreign court 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: (i)
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; (ii) 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; (iii) 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; (iv) recognition
or enforcement of the judgment would not be contrary to public policy in the Cayman Islands; and (v) the proceedings pursuant
to which judgment was obtained were not contrary to natural justice. In appropriate circumstances, a Cayman Islands Court may
give effect in the Cayman 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">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.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In addition, many of our directors and officers are nationals
or residents of the People&rsquo;s Republic of China and all or a substantial portion of their assets are located in the People&rsquo;s
Republic of China.</P>



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

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

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

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a005_v1"></A>USE OF PROCEEDS</P>

<P STYLE="font: bold 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">We estimate that the net proceeds of this
offering, in addition to the funds we will receive from the sale of the private units (all of which will be deposited into the
trust account), will be as set forth in the following table:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Without Over-Allotment Option</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><SUP>&nbsp;</SUP></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Over-Allotment Option Exercised</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Gross proceeds</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 74%; text-align: left">From offering</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">180,000,000</TD><TD STYLE="width: 1%; text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">207,000,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">From private placement</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4,750,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">5,290,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total gross proceeds</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">184,750,000</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">212,290,000</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Offering expenses<SUP>(1)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Underwriting discount</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,600,000</TD><TD STYLE="text-align: left"><SUB>(2)</SUB></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4,140,000</TD><TD STYLE="text-align: left"><SUB>(2)</SUB></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Legal fees and expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">375,000</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">375,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Nasdaq listing fee</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">75,000</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">75,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Printing and engraving expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">45,000</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">45,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Accounting fees and expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">40,000</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">40,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">FINRA filing fee</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">53,876</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><P STYLE="margin: 0pt 0">53,876</P> </TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">SEC registration fee</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><P STYLE="margin: 0pt 0">42,451</P> </TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><P STYLE="margin: 0pt 0">42,451</P> </TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Miscellaneous expenses</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><P STYLE="margin: 0pt 0">18,673</P> </TD><TD STYLE="padding-bottom: 1pt; text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><P STYLE="margin: 0pt 0">18,673</P> </TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Total offering expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4,250,000</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4,790,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Net proceeds of the offering and private placement</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Held in trust</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">180,000,000</TD><TD STYLE="text-align: left"><SUB>(3)</SUB></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">207,000,000</TD><TD STYLE="text-align: left"><SUB>(3)</SUB></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Not held in trust</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">500,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">500,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total net proceeds</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">180,500,000</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">207,500,000</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Use of net proceeds not held in trust and amounts available
    from interest income earned on the trust account<SUP>(4)(5)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Legal, accounting and other third party expenses attendant
    to the search for target businesses and to the due diligence investigation, structuring and negotiation of a business combination</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">180,000</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">36.0</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Due diligence of prospective target businesses by officers,
    directors and initial shareholders</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">170,000</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">34.0</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Legal and accounting fees relating to SEC reporting
    obligations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50,000</TD><TD STYLE="text-align: left"><SUP>&nbsp;</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10.0</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -9pt; padding-left: 9pt">Working capital to cover miscellaneous
    expenses, D&amp;O insurance, general corporate purposes, liquidation obligations and reserves</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">100,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">20.0</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt; text-indent: -9pt; padding-left: 9pt">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">500,000</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left"><SUP>&nbsp;</SUP></TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100.0</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</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>

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<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"></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 STYLE="text-align: justify">A portion of the offering expenses,
                                         including the SEC registration fee, the FINRA filing fee, the non-refundable portion
                                         of the Nasdaq listing fee and a portion of the legal and audit fees, have been paid from
                                         the funds we borrowed from our sponsor, Shareholder Value Fund described below. These
                                         funds will be repaid out of the proceeds of this offering available to us. If we determine
                                         not to proceed with the offering, such amounts would not be repaid.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></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)</TD><TD STYLE="text-align: justify">No discounts or commissions
                                         will be paid with respect to the purchase of the private units.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></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">(3)</TD><TD STYLE="text-align: justify">The funds held in the trust
                                         account will be used to acquire a target business, to pay holders who wish to convert
                                         or sell their shares for a portion of the funds held in the trust account and potentially
                                         to pay our expenses relating thereto, including a fee payable to the representative of
                                         the underwriters equal to 3.5% of the gross proceeds raised in this offering upon consummation
                                         of our initial business combination for assisting us in connection with our initial business
                                         combination, as described under the section titled &ldquo;Underwriting &mdash; Business
                                         Combination Marketing Agreement.&rdquo; Our expenses relating to the acquisition of a
                                         target business would either come from the funds held in the trust account or additional
                                         funds otherwise available to us outside of the trust account, including cash held by
                                         the target business. Any remaining funds will be disbursed to the combined company and
                                         be used as working capital to finance the operations of the target business.</TD></TR></TABLE>

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

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

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">(4)</TD><TD STYLE="text-align: justify">The amount of proceeds not held
                                         in trust will remain constant at $500,000 even if the over-allotment is exercised.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></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">(5)</TD><TD STYLE="text-align: justify">These 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 our initial business
                                         combination based upon the level of complexity of that business combination. 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 be deducted from
                                         our excess working capital.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">Our sponsor has agreed to purchase an aggregate
of 475,000 private units at a price of $10.00 per private unit ($4,750,000 in the aggregate) in a private placement that will occur
simultaneously with the closing of this offering. It has further agreed that if the over-allotment option is exercised by the underwriters,
it will purchase from us at a price of $10.00 per private unit an additional number of private units (up to a maximum of 54,000
private units) <I>pro rata</I> with the amount of the over-allotment option exercised so that at least $10.00 per share sold to
the public in this offering is held in trust regardless of whether the over-allotment option is exercised in full or part. These
additional private units will be purchased in a private placement that will occur simultaneously with the purchase of units resulting
from the exercise of the over-allotment option. All of the proceeds we receive from these purchases will be placed in the trust
account described below.</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">$180,000,000, or $207,000,000 if the over-allotment
option is exercised in full, of the net proceeds of this offering and the sale of the private units will be placed in an account
at JPMorgan Chase Bank in the United States, maintained by Continental Stock Transfer &amp; Trust Company, New York, New York,
as trustee. Pursuant to the investment management trust agreement that will govern the investment of such funds, the trustee,
upon our written instructions, will direct JPMorgan Chase Bank to invest the funds as set forth in such written instructions and
to custody the funds while invested and until otherwise instructed in accordance with the investment management trust agreement.
The funds held in trust will be invested only in United States government treasury bills, bonds or notes having a maturity of
180 days or less, or in money market funds meeting the applicable conditions under Rule 2a-7 promulgated under the Investment
Company Act of 1940 and that invest solely in United States government treasuries, so that we are not deemed to be an investment
company under the Investment Company Act. Except with respect to interest earned on the funds held in the trust account that may
be released to us to pay our income or other tax obligations, the proceeds will not be released from the trust account until the
earlier of the completion of a business combination or our liquidation. The proceeds held in the trust account may be used as
consideration to pay the sellers of a target business with which we complete a business combination. Any amounts not paid as consideration
to the sellers of the target business may be used to finance operations of the target business.</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">No compensation of any kind (including
finder&rsquo;s, consulting or other similar fees) will be paid to any of our existing officers, directors, shareholders, or any
of their affiliates, prior to, or for any services they render in order to effectuate, the consummation of the business combination
(regardless of the type of transaction that it is). However, such individuals will receive reimbursement for any out-of-pocket
expenses incurred by them in connection with activities on our behalf, such as identifying potential target businesses, performing
business due diligence on suitable target businesses and business combinations as well as traveling to and from the offices, plants
or similar locations of prospective target businesses to examine their operations. Since the role of present management after
a business combination is uncertain, we have no ability to determine what remuneration, if any, will be paid to those persons
after a 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"></P>

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<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">Regardless of whether the over-allotment
option is exercised in full, the net proceeds from this offering available to us out of trust for our working capital requirements
in searching for a business combination will be approximately $500,000. We intend to use the excess working capital available
for miscellaneous expenses such as paying fees to consultants to assist us with our search for a target business and for director
and officer liability insurance premiums, with the balance being held in reserve in the event due diligence, legal, accounting
and other expenses of structuring and negotiating business combinations exceed our estimates, as well as for reimbursement of
any out-of-pocket expenses incurred by our initial shareholders, officers and directors in connection with activities on our behalf
as described above. We will also be entitled to have interest earned on the funds held in the trust account released to us to
pay any tax obligations that we may owe.</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">The allocation of the net proceeds
available to us outside of the trust account represents our best estimate of the intended uses of these funds. In the event that
our assumptions prove to be inaccurate, we may reallocate some of such proceeds within the above described categories. If our
estimate of the costs of undertaking in-depth due diligence and negotiating our initial business combination is less than the
actual amount necessary to do so, or the amount of interest available from the trust account is insufficient as a result of the
current low interest rate environment, we may be required to raise additional capital, the amount, availability and cost of which
is currently unascertainable. In this event, we could seek such additional capital through loans or additional investments from
members of our management team, but such members of our management team 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; text-align: justify">&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">We will likely use a substantial portion
of the net proceeds of this offering, including the funds held in the trust account, to acquire a target business, to pay holders
who wish to convert or sell their shares to us for a portion of the funds held in the trust account and to pay our expenses relating
thereto. If the payment of our liabilities, including the fee payable to EarlyBirdCapital equal to 3.5% of the gross proceeds
raised in this offering (exclusive of any applicable finders&rsquo; fees which might become payable), were to reduce the amount
available to us in trust necessary to pay all holders who wish to convert or sell their shares to us for a portion of the funds
held in the trust account, we would not be able to consummate such transaction. To the extent that our share capital is used in
whole or in part as consideration to effect a business combination, the proceeds held in the trust account which are not used
to consummate a business combination, to pay holders who wish to convert their shares into a portion of the funds held in the
trust account or pay our expenses relating thereto (which could include the up to $7,245,000 payable to EarlyBirdCapital described
above if the over-allotment option is exercised in full) will be disbursed to the combined company and will, along with any other
net proceeds not expended, be used as working capital to finance the operations of the target business. Such working capital funds
could be used in a variety of ways including continuing or expanding the target business&rsquo; operations, for strategic acquisitions
and for marketing, research and development of existing or new products.</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">To the extent we are unable to consummate
a business combination, we will pay the costs of liquidating our trust account from our remaining assets outside of the trust
account. If such funds are insufficient, <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shareholder
Value Fund, our sponsor,  has agreed to advance us the funds necessary to complete such
liquidation (currently anticipated to be no more than $18,500) and has agreed not to seek repayment of such expenses.</FONT></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">As of July 17, 2017, our sponsor had loaned
to us an aggregate of $300,000 to be used to pay formation and a portion of the expenses of this offering. On September 1, 2017,
our sponsor loaned to us an additional $200,000. The loans are payable without interest on the date on which we consummate our
initial public offering. If we determine not to proceed with the offering, such amounts would not be repaid.</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>

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<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">In order to meet our working capital
needs following the consummation of this offering until completion of an initial business combination, our initial shareholders,
officers and directors or their affiliates may, but are not obligated to, loan us funds, from time to time or at any time, in
whatever amount they deem reasonable in their sole discretion. The notes would either be paid upon consummation of our initial
business combination, without interest, or, at the lender&rsquo;s discretion, up to $500,000 of the notes may be converted upon
consummation of our business combination into private units at a price of $10.00 per unit (which, for example, would result in
the holders being issued units to acquire 55,000 ordinary shares (which includes 5,000 shares issuable upon conversion of rights)
and warrants to purchase 25,000 ordinary shares if $500,000 of notes were so converted). If we do not complete our initial business
combination, the loans would not be repaid.</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">A public shareholder will be entitled
to receive funds from the trust account (including interest earned on his, her or its portion of the trust account to the extent
not previously released to us to pay our tax obligations) only in the event of (i) our liquidation if we have not completed a
business combination within the required time period or (ii) if that public shareholder converts such public shares or sells them
to us in a tender offer in each case in connection with a business combination which we consummate or in connection with an amendment
to our memorandum and articles of association prior to the consummation of an initial business combination. 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; text-align: justify">&nbsp;</P>


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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a006_v1"></A>DIVIDEND POLICY</P>

<P STYLE="font: bold 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">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 an 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 a business combination. The payment of any dividends subsequent to a business
combination will be within the discretion of our board of directors at such time. It is the present intention of our board of
directors to retain all earnings, if any, for use in our business operations and, accordingly, our board of directors does not
anticipate declaring any dividends in the foreseeable future. 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
pursuant to Rule 462(b) under the Securities Act, in which case we will effect a share capitalizations immediately prior to the
consummation of the offering in such amount as to maintain our initial shareholders&rsquo; ownership at 20% of our issued and
outstanding ordinary shares upon the consummation of this offering (excluding ownership of the private units). 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; text-align: justify">&nbsp;</P>


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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a007_v1"></A>DILUTION</P>

<P STYLE="font: bold 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">The difference between the public offering
price per share, assuming no value is attributed to the redeemable warrants included in the units we are offering by this prospectus
and included in the private units, and the pro forma net tangible book value per share after this offering constitutes the dilution
to investors in this offering. Such calculation does not reflect any dilution associated with the sale and exercise of warrants,
including the private <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">warrants. Net tangible book value
per share is determined by dividing our net tangible book value, which is our total tangible assets less total liabilities by
the number of issued and outstanding ordinary shares.</FONT></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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At July 17, 2017, our net tangible book
value was a deficit of $87,866 or approximately $(0.02) per share. After giving effect to the sale of 18,000,000 ordinary shares
included in the units we are offering by this prospectus, the deduction of underwriting discounts and estimated expenses of this
offering, the sale of 475,000 ordinary shares included in the private units, our pro forma net tangible book value at July 17,
2017 would have been $5,000,008 or $0.69 per share, representing an immediate increase in net tangible book value of $0.71 per
share to the initial shareholders and an immediate dilution of 92.4% per share or $8.40 to new investors not exercising their
conversion/tender rights. For purposes of presentation, our pro forma net tangible book value after this offering is $5,000,008
less than it otherwise would have been because if we effect a business combination, the ability of public shareholders to exercise
conversion rights or sell their shares to us in any tender offer may result in the conversion or tender of up to 17,551,272 shares
sold in this 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">The following table illustrates the dilution
to the new investors on a per-share basis, assuming no value is attributed to the redeemable warrants, including the private warrants:</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>

<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: 74%"><FONT STYLE="font-size: 10pt">Public offering price</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 10%; text-align: right"><FONT STYLE="font-size: 10pt">9.09</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">Net tangible book value before this offering</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">(0.02</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Increase attributable to new investors and private sales</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-size: 10pt">0.71</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Pro forma net tangible book value after this offering</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</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-size: 10pt">0.69</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">Dilution to new investors</FONT></TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: black 2.25pt double"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"><FONT STYLE="font-size: 10pt">8.40</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD><FONT STYLE="font-size: 10pt">Percentage of dilution to new investors</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">92.4</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</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">The following table sets forth information with respect to
our initial shareholders and the new investors:</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>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; vertical-align: bottom">Shares
    Purchased</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid; vertical-align: bottom">Total
    Consideration</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Average Price</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">Number</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Percentage</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Percentage</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Per Share</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 35%">Initial shareholders<SUP>(1)</SUP></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">4,500,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">18.13</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">31,038</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">0.02</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">0.007</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Shares underlying private unit<SUP>(2)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">522,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.10</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,750,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.57</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9.091</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">New investors<SUP>(3)</SUP></TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">19,800,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">79.77</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">180,000,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">97.41</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">9.09</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">24,822,500</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100.00</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">184,781,038</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">100.00</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; 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 ALIGN="LEFT"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 20%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<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"></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 STYLE="text-align: justify"><P STYLE="margin: 0pt 0">Assumes the over-allotment option has not been exercised and an aggregate of 675,000 ordinary shares held
by our initial shareholders have been forfeited as a result thereof.</P>


</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></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"><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><P STYLE="margin: 0pt 0">Includes the issuance of an additional 47,500 shares underlying the rights contained in the private unit
holders.</P>


</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><P STYLE="margin: 0pt 0">Includes the issuance of an additional 1,800,000 shares underlying the rights contained in the new investors.</P>


</TD></TR>
</TABLE>


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

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


<!-- Field: Page; Sequence: 45; Value: 2 -->
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    <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: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The pro forma net tangible book value
after the offering is calculated as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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: rgb(204,238,255)">
    <TD>Numerator:<SUP>(1)</SUP></TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 87%; text-align: left">Net tangible book value before this offering</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">(87,866</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Net proceeds from this offering and private placement of private units</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">180,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Plus: Offering costs accrued for and paid in advance, excluded from tangible book value</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100,494</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Plus: Proceeds from sale of unit purchase option to underwriters</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Less: Proceeds held in trust subject to conversion/tender</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(175,512,720</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">5,000,008</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Denominator:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Ordinary shares issued and outstanding prior to this offering(1)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Ordinary shares to be sold in this offering</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><P STYLE="margin: 0pt 0">Ordinary shares underlying the rights to be included in the public
                                 units</P>


</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><P STYLE="margin: 0pt 0">1,800,000</P>


</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Ordinary shares included in the private units</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">475,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><P STYLE="margin: 0pt 0">Ordinary shares underlying the rights to be included in the private
                                 units</P>


</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><P STYLE="margin: 0pt 0">47,500</P>


</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Less: Shares subject to conversion/tender</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(17,551,272</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><P STYLE="margin: 0pt 0">7,271,228</P>


</TD><TD STYLE="padding-bottom: 2.5pt; 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>

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<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"></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">(1) Assumes the over-allotment option
has not been exercised and an aggregate of 675,000 ordinary shares held by our initial shareholder have been forfeited by us as
a result thereof.</P>

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


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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a008_v1"></A>CAPITALIZATION</P>

<P STYLE="font: bold 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">The following table sets forth our capitalization
at July 17, 2017 and as adjusted to give effect to the sale of our units and the private units 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; text-align: justify">&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="text-indent: -0.125in; padding-left: 0.125in">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">July 17, 2017</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Actual</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><B>As Adjusted<SUP>(1)</SUP></B></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 74%; text-align: justify; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in">Due to related
    parties<SUP>(2)</SUP></TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">300,000</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; text-indent: -0.125in; padding-left: 0.125in"><P STYLE="margin: 0pt 0">Ordinary shares, $0.0001 par value, -0- and 17,551,272 shares are subject to possible conversion/tender</P>


</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">175,512,720</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; text-indent: -0.125in; padding-left: 0.125in">Preferred shares, $0.0001 par value, 2,000,000
    shares authorized; none issued or outstanding</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; text-indent: -0.125in; padding-left: 0.125in"><P STYLE="margin: 0pt 0">Ordinary shares, $0.0001 par value, 200,000,000 shares authorized, 4,312,500 shares issued and outstanding,
actual; 22<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">,975,000 shares issued and outstanding<SUP>(3)</SUP>
(including 17,551,272 shares subject to possible conversion/tender), as adjusted</FONT></P></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">431</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"><P STYLE="margin: 0pt 0">2,298</P> </TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; text-indent: -0.125in; padding-left: 0.125in">Additional paid-in capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">24,569</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,010,083</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in">Accumulated deficit</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(12,372</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(12,372</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in">Total shareholders&rsquo;
    equity</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">12,628</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">5,000,008</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt; text-indent: -0.125in; padding-left: 0.125in">Total capitalization</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">12,628</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">180,512,728</TD><TD STYLE="padding-bottom: 2.5pt; 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>

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<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">&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">(1)</TD><TD STYLE="text-align: justify"><P STYLE="margin: 0pt 0">Includes the $4,750,000 we will receive from the sale of the private units.</P>


</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">(2)</TD><TD STYLE="text-align: justify"><P STYLE="margin: 0pt 0">As of July 17, 2017, our sponsor had loaned to us an aggregate of $300,000 to be used to pay formation
and a portion of the expenses of this offering. The loan is payable without interest on the date on which we consummate our initial
public offering.</P>


</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">(3)</TD><TD STYLE="text-align: justify"><P STYLE="margin: 0pt 0">Assumes the over-allotment option has not been exercised and an aggregate of 675,000 ordinary shares held
by our initial shareholders have been forfeited as a result thereof. Includes 475,000 shares underlying the private units purchased
by our sponsor concurrent with this offering.</P>


</TD></TR></TABLE>

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


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

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


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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a009_v1"></A>MANAGEMENT&rsquo;S
DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</P>

<P STYLE="font: bold 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">We were incorporated on November 28, 2016
as a Cayman Islands exempted company to serve as a vehicle to effect a merger, share exchange, asset acquisition, share purchase,
recapitalization, reorganization or similar business combination with one or more target businesses. Our efforts to identify a
prospective target business will not be limited to a particular industry or geographic location. We intend to utilize cash derived
from the proceeds of this offering, our securities, debt or a combination of cash, securities and debt, in effecting a business
combination. The issuance of additional ordinary shares or preferred shares:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">may
                                         significantly reduce the equity interest of our shareholders;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">may
                                         subordinate the rights of holders of ordinary shares if we issue preferred shares with
                                         rights senior to those afforded to our ordinary shares;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">will
                                         likely cause a change in 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 most likely will also result in the resignation or removal of our
                                         present officers and directors; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">may
                                         adversely affect prevailing market prices for our securities.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Similarly, if we issue debt securities,
it could result in:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">default
                                         and foreclosure on our assets if our operating revenues after a business combination
                                         are insufficient to pay our debt obligations;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">acceleration
                                         of our obligations to repay the indebtedness even if we have made all principal and interest
                                         payments when due if the debt security contains covenants that required the maintenance
                                         of certain financial ratios or reserves and we breach any such covenant without a waiver
                                         or renegotiation of that covenant;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">our
                                         immediate payment of all principal and accrued interest, if any, if the debt security
                                         is payable on demand; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">our
                                         inability to obtain additional financing, if necessary, if the debt security contains
                                         covenants restricting our ability to obtain additional financing while such security
                                         is outstanding.</TD></TR></TABLE>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Liquidity and Capital Resources</P>

<P STYLE="font: bold 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">As indicated in the accompanying financial
statements, at July 17, 2017, we had $225,048 in cash and a working capital deficiency of $87,866. 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 uncertainty through this offering are discussed above. Our plans to raise capital or to consummate our initial business combination
may not be successful. These factors, among others, raise substantial doubt about our ability to continue as a going concern.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our liquidity needs have been satisfied
to date through receipt of $31,038 from the sale of the insider shares and advances from our sponsor and an affiliate of our sponsor
in an aggregate amount of $584,502 that is more fully described below. We estimate that the net proceeds from (1) the sale of
the units in this offering, after deducting offering expenses of approximately $650,000 and underwriting discounts and commissions
of $3,600,000 (or $4,140,000 if the over-allotment option is exercised in full) and (2) the sale of the private units for a purchase
price of $4,750,000 (or $5,290,000 if the over-allotment option is exercised in full), will be $180,500,000 (or $207,500,000 if
the over-allotment option is exercised in full). Of this amount, $180,000,000 (or $207,000,000 if the over-allotment option is
exercised in full) will be held in the trust account. The remaining $500,000 (whether or not the over-allotment option is exercised
in full) will not be held in the trust account.</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>

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<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">We intend to use substantially all of
the net proceeds of this offering, including the funds held in the trust account, to acquire a target business or businesses and
to pay our expenses relating thereto, including a cash fee equal to 3.5% of the gross proceeds of this offering payable to the
representative of the underwriters upon consummation of our initial business combination for assisting us in connection with such
business combination. To the extent that our share capital is used in whole or in part as consideration to effect our initial
business combination, the remaining proceeds held in the trust account as well as any other net proceeds not expended will be
used as working capital to finance the operations of the target business. Such working capital funds could be used in a variety
of ways including continuing or expanding the target business&rsquo; operations, for strategic acquisitions and for marketing,
research and development of existing or new products. Such funds could also be used to repay any operating expenses or finders&rsquo;
fees which we had incurred prior to the completion of our initial business combination if the funds available to us outside of
the trust account were insufficient to cover such expenses.</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">Over the next 18 months (assuming a
business combination is not consummated prior thereto), we will be using the funds held outside of the trust account for identifying
and evaluating prospective acquisition candidates, performing business due diligence on prospective target businesses, traveling
to and from the offices, plants or similar locations of prospective target businesses, reviewing corporate documents and material
agreements of prospective target businesses, selecting the target business to acquire and structuring, negotiating and consummating
the business combination. Out of the funds available outside the trust account, we anticipate that we will incur approximately:</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">$180,000
                                         of expenses for the search for target businesses and for the legal, accounting and other
                                         third-party expenses attendant to the due diligence investigations, structuring and negotiating
                                         of a business combination;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">$170,000
                                         of expenses for the due diligence and investigation of a target business by our officers,
                                         directors and initial shareholders;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">$50,000
                                         of expenses in legal and accounting fees relating to our SEC reporting obligations; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">$100,000
                                         for general working capital that will be used for miscellaneous expenses, including director
                                         and officer liability insurance premiums.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If our estimates of the costs of undertaking
in-depth due diligence and negotiating our initial business combination is less than the actual amount necessary to do so, or
the amount of interest available to us from the trust account is less than we expect as a result of the current interest rate
environment, 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 consummate our initial business combination or because we become obligated
to redeem a significant number of our public shares upon consummation of our initial business combination, in which case we may
issue additional securities or incur debt in connection with such business combination. Subject to compliance with applicable
securities laws, we would only consummate such financing simultaneously with the consummation of our initial business combination.
Following our initial business combination, if cash on hand is insufficient, we may need to obtain additional financing in order
to meet our obligations.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Related Party Transactions</P>

<P STYLE="font: bold 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">As of July 17, 2017, our sponsor, Shareholder
Value Fund, loaned to us an aggregate of $300,000 on a non-interest bearing basis for payment of offering expenses on our behalf.
On September 1, 2017, our sponsor loaned to us an additional $200,000. The loans will be repaid out of the proceeds of this offering
not being placed in the trust account. For the period from November 28, 2016 through July 17, 2017, an affiliate of our sponsor
advanced to us an aggregate of $84,502 on a non-interest bearing basis for payment of formation and offering expenses on our behalf.
The advances were repaid in full on July 17, 2017 out of the advance from our sponsor.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our sponsor has committed to purchase
from us an aggregate of 475,000 private units at $10.00 per private unit (for a total purchase price of $4,750,000). Our sponsor
has also agreed that if the over-allotment option is exercised by the underwriters, it will purchase from us at a price of $10.00
per private unit an additional number of private units (up to a maximum of 54,000 private units) <I>pro rata</I> with the amount
of the over-allotment option exercised so that at least $10.00 per share sold to the public in this offering is held in trust
regardless of whether the over-allotment option is exercised in full or part. These additional private units will be purchased
in a private placement that will occur simultaneously with the purchase of units resulting from the exercise of the over-allotment
option.</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>

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<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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If needed to finance transaction costs
in connection with searching for a target business or consummating an intended initial business combination, our initial shareholders,
officers, directors or their affiliates may, but are not obligated to, loan us funds as may be required. 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. Such loans would be evidenced by
promissory notes. The notes would either be paid upon consummation of our initial business combination, without interest, or,
at the lender&rsquo;s discretion, up to $500,000 of the notes may be converted upon consummation of our business combination into
private units at a price of $10.00 per unit (which, for example, would result in the holders being issued units to acquire 55,000
ordinary shares (which includes 5,000 shares issuable upon conversion of rights) and warrants to purchase 25,000 ordinary shares
if $500,000 of notes were so converted). We believe the purchase price of these units will approximate the fair value of such
units when issued. However, if it is determined, at the time of issuance, that the fair value of such units exceeds the purchase
price, we would record compensation expense for the excess of the fair value of the units on the day of issuance over the purchase
price in accordance with Accounting Standards Codification (&ldquo;ASC&rdquo;) 718 &mdash; Compensation &mdash; Stock Compensation.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Controls and Procedures</P>

<P STYLE="font: bold 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">We are not currently required to maintain
an effective system of internal controls as defined by Section 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 December 31, 2018. As of the date of this
prospectus, 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. 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; text-align: justify">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">staffing
                                         for financial, accounting and external reporting areas, including segregation of duties;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">reconciliation
                                         of accounts;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">proper
                                         recording of expenses and liabilities in the period to which they relate;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">evidence
                                         of internal review and approval of accounting transactions;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">documentation
                                         of processes, assumptions and conclusions underlying significant estimates; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">documentation
                                         of accounting policies and procedures.</TD></TR></TABLE>

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Quantitative and Qualitative Disclosures
about Market Risk</P>

<P STYLE="font: bold 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">The net proceeds of this offering, including
amounts in the trust account, will be invested in United States government treasury bills, bonds or notes having a maturity of
180 days or less, or in money market funds meeting the applicable conditions under Rule 2a-7 promulgated under the Investment
Company Act of 1940 and that invest solely in U.S. treasuries. 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; text-align: justify">&nbsp;</P>

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

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<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">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Off-Balance Sheet Arrangements; Commitments
and Contractual Obligations; Quarterly Results</P>

<P STYLE="font: bold 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">As of the date of this prospectus, we
did not have any off-balance sheet arrangements as defined in Item 303(a)(4)(ii) 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; text-align: justify">&nbsp;</P>

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

<P STYLE="font: bold 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">On April 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 such, our
financial statements may not be comparable to companies that comply with public company effective dates.</P>

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


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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a010_v1"></A>PROPOSED BUSINESS</P>

<P STYLE="font: bold 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"><B>Introduction</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: justify">We are a newly incorporated blank check
company incorporated in the Cayman Islands as an exempted company with limited liability. Our shareholders have no additional
liability for the company&rsquo;s liabilities over and above the amount paid for their shares. We were formed 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. Our efforts to identify
a prospective target business will not be limited to a particular geographic region or industry.</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">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.</P>

<P STYLE="font: 10pt Times 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>Background and Competitive Advantages</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: justify">We believe that our management team is
well positioned to identify attractive risk-adjusted returns in the marketplace and that our contacts and transaction sources,
ranging from industry executives, private owners, private equity funds, and investment bankers, in addition to the geographical
reach of our affiliates, will enable us to pursue a broad range of opportunities.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt 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-size: 10pt"><B>1.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>Our
                                         Sponsor&rsquo;s Relationship with China Minsheng Investment Group</I></B></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Our sponsor, Shareholder
Value Fund, is a Cayman Islands exempted company structured as a hedge fund controlled by its Board of Directors, which has selected
CM Asset Management (Hongkong) Company Limited (&ldquo;CMAM&rdquo;) to serve as the investment manager for the fund. CMAM is a
wholly owned subsidiary of China Minsheng Financial Holding Corporation Limited, a HKSE listed Company [Ticker: 245 HK] (&ldquo;CMFH&rdquo;).
CMFH is a part of China Minsheng Investment Group Co. Ltd. (&ldquo;CMIG&rdquo;), founded in Shanghai in 2014. CMIG is a well-recognized
financial company in China and has sizeable investments in industries such as new energy, aviation, healthcare and technology.
CMIG aspires to be a wholly private sector competitor of China Investment Corporation, commonly considered to be the sovereign
wealth fund of China.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify">CMIG has engaged in a number
of transactions in recent years including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The
                                         reverse merger of China Minsheng Drawin Technology Group in February 2015. CMIG invested
                                         HKD 1.3 Billion and paid HKD0.20 per share; the shares are trading at HKD0.26 as of September
                                         29, 2017.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The
                                         acquisition of 33% of Luxaviation CMI in March 2015.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The
                                         reverse merger of China Seven Star Holdings Limited in June 2015. CMIG invested HKD5
                                         Billion and paid HKD0.19 per share; the shares are trading at HKD0.47 as of September
                                         29, 2017.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The
                                         reverse merger of SRE Group in October 2015. CMIG invested HKD1.49 Billion and paid HKD0.10
                                         per share; the shares are trading at HKD0.202 as of September 29, 2017.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The
                                         reverse merger of Yida China Holdings in November 2015. CMIG invested HKD3 Billion and
                                         paid HKD2.20 per share; the shares are trading at HKD2.35 as of September 29, 2017.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The
                                         acquisition of 100% of Sirius International Insurance Group in April 2016.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify">CMIG&rsquo;s past successes
do not guarantee that we will successfully consummate an initial business combination.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt 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-size: 10pt"><B>2.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Broad
                                         Network for Access to Various Targets </B></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Since our sponsor is managed
by an investment manager that is an affiliate of CMIG, we believe that we could benefit from the resources of CMIG. CMIG and its
affiliates may present to us potential targets, and assist in the analysis and due-diligence of such targets if needed. Furthermore,
the relationship of our sponsor with CMIG could result in CMIG presenting potential acquisition opportunities to us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt 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-size: 10pt"><B>3.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Strong
                                         and Stable Financial Position with Flexibility</B></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">With the IPO proceeds held
in trust, initially in the amount of $180 million (or $207 million if the over-allotment option is exercised in full) and a
public market for our ordinary shares, we can offer a target business a variety of options to facilitate a business combination
and fund future expansion and growth of its business. Because we are able to consummate a business combination using the cash
proceeds from this offering, our share capital, debt or a combination of the foregoing, we have the flexibility to use an efficient
structure allowing us to tailor the consideration to be paid to the target business to address the needs of the parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt 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-size: 10pt"><B>4.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Significant
                                         Cross Border Business Experience</B></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Our management team has significant
experience in cross-border business in Asia, Europe and the U.S. Our management team understands the cultural, business and economic
differences and opportunities that will allow us to negotiate a transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt 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-size: 10pt"><B>5.</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>Alternative
                                         Path to Becoming Public</B></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">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 process to a public listing rather than the traditional initial public offering process. We believe
that target businesses will favor this alternative, which we believe is less expensive, while offering greater certainty of execution
than the traditional initial public offering. During an initial public offering, there are typically expenses incurred in marketing,
which would be costlier than a business combination with us. Furthermore, once a proposed business combination is approved by
our shareholders and the transaction is consummated, 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
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. With the proper corporate governance and operation as a public company,
the target business would become attractive to the public.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&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; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our acquisition strategy is to identify,
acquire and, after our initial business combination, to build a public company. Our selection process will leverage our team&rsquo;s
network of industry, private equity and lending community relationships as well as relationship with management teams of public
and private companies, investment bankers, attorneys and accountants, which we believe should provide us with a number of business
combination opportunities. We intend to deploy a pro-active, thematic sourcing strategy and to focus on companies where we believe
the combination of our relationships, capital and capital markets expertise and operating experience of executives at CMIG, can
help accelerate the target business&rsquo; growth and performance.</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"><B>Investment Criteria</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: justify">The focus of our management team is to
create shareholder value by leveraging its experience to improve the efficiency of the business while implementing strategies
to grow revenue and profits organically and/or through acquisitions. Consistent with our strategy, we have identified the following
general criteria and guidelines that we believe are important in evaluating prospective target businesses. While we intend to
use these criteria and guidelines in evaluating prospective businesses, we may deviate from these criteria and guidelines should
we see fit to do so:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Large
                                         Companies in Fast Growing Industries</I></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">We intend to primarily seek to
acquire one or more growth businesses with a total equity value of greater than 5 to 10 times the amount of the proceeds of this
offering. 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 for growth to yield significant revenue and earnings growth. We do not intend to acquire
either a start-up company or a company with negative cash flow.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Niche
                                         Leader and Specialized Business with High Growth Potential</I></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">We intend to seek target companies
that have significant underexploited expansion opportunities in a niche sector. One of the key elements of our sponsor&rsquo;s
typical value creation approach is to acquire target companies to accelerate their growth. This can be accomplished through a
combination of accelerating organic growth and finding attractive add-on acquisition targets. Our management team has significant
experience in identifying such targets and helping target management assess the strategic and financial fit. Similarly, our management
has the expertise to assess the likely synergies and a process to help a target integrate acquisitions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Long-term
                                         Revenue Visibility with Defensible Market Position</I></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">We intend to seek target companies
that are at an inflection point, such as those requiring additional management expertise, are able to innovate by developing new
products or services, or where we believe we can drive improved financial performance and where an acquisition may help facilitate
growth.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Benefits
                                         from Being a U.S. Public Company (Value Creation and Marketing Opportunities)</I></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">We intend to seek target companies
that should offer attractive risk-adjusted equity returns for our shareholders. We intend to seek to acquire a target on terms
and in a manner that leverages our experience. We expect to evaluate financial returns based on (i) the potential for organic
growth in cash flows, (ii) the ability to achieve cost savings, (iii) the ability to accelerate growth, including through the
opportunity for follow-on acquisitions and (iv) the prospects for creating value through other value creation initiatives. Potential
upside from growth in the target business&rsquo; earnings and an improved capital structure will be weighed against any identified
downside risks.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 27pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><I>Potential
                                         Benefit from Globalization Trends and Possession of Competitive Advantages</I></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">Target companies exhibit unrecognized
value or other characteristics that we believe have been misevaluated by the marketplace based on our company specific analysis
and due diligence review. For a potential target company, this process will include, among other things, a review and analysis
of the company&rsquo;s capital structure, quality of earnings, potential for operational improvements, corporate governance, customers,
material contracts, and industry background and trends. We intend to leverage the operational experience and disciplined investment
approach of our team to identify opportunities to unlock value that our experience in complex situations allows us to pursue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-align: justify">&nbsp;</P>

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Effecting a Business Combination</P>

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

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

<P STYLE="font: italic bold 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">We are not presently engaged in, and we
will not engage in, any substantive commercial business for an indefinite period of time following this offering. We intend to
utilize cash derived from the proceeds of this offering and the private placement of private units, our share capital, debt or
a combination of these in effecting a business combination. Although substantially all of the net proceeds of this offering and
the private placement of private 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. A 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, while avoiding what it may deem to be
adverse consequences of undertaking a public offering itself. These include time delays, significant expense, loss of voting control
and compliance with various Federal and state securities laws. In the alternative, we may seek to consummate a business combination
with a company that may be financially unstable or in its early stages of development or growth. While we may seek to effect simultaneous
business combinations with more than one target business, we will probably have the ability, as a result of our limited resources,
to effect only a single 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"></P>

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<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">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We Have Not Identified a Target
Business</P>

<P STYLE="font: italic bold 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">To date, we have not selected any target
business on which to concentrate our search for a business combination. None of our officers, directors, initial shareholders
and other affiliates has engaged in discussions on our behalf with representatives of other companies regarding the possibility
of a potential merger, share exchange, asset acquisition or other similar business combination with us, nor have we, nor any of
our agents or affiliates, been approached by any candidates (or representatives of any candidates) with respect to a possible
business combination with our company.</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">Subject to the limitations that a target
business have a fair market value of at least 80% of the balance in the trust account at the time of the execution of a definitive
agreement for our initial business combination, as described below in more detail, we will have virtually unrestricted flexibility
in identifying and selecting a prospective acquisition candidate. We have not established any other specific attributes or criteria
(financial or otherwise) for prospective target businesses. Accordingly, there is no basis for investors in this offering to evaluate
the possible merits or risks of the target business with which we may ultimately complete a business combination. To the extent
we effect a business combination with a financially unstable company or an entity in its early stage of development or growth,
including entities without established records of sales or earnings, we may be affected by numerous risks inherent in the business
and operations of financially unstable and early stage or potential emerging growth companies. Although our management will endeavor
to evaluate the risks inherent in a particular target business, we cannot assure you that we will properly ascertain or assess
all significant risk factors.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Sources of Target Businesses</P>

<P STYLE="font: italic bold 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">We anticipate that target business candidates
will be brought to our attention from various unaffiliated sources, including investment bankers, venture capital funds, private
equity funds, leveraged buyout funds, management buyout funds and other members of the financial community. Target businesses
may be brought to our attention by such unaffiliated sources as a result of being solicited by us through calls or mailings which
will not commence until after the completion of this offering. These sources may also introduce us to target businesses they think
we may be interested in on an unsolicited basis, since many of these sources will have read this prospectus and know what types
of businesses we are targeting. Our officers and directors, as well as their respective affiliates, may also bring to our attention
target business candidates that they become aware of through their business contacts as a result of formal or informal inquiries
or discussions they may have, as well as attending trade shows or conventions. While we do not presently anticipate engaging the
services of professional firms or other individuals that specialize in business acquisitions on any formal basis, we may engage
these firms or other individuals in the future, in which event we may pay a finder&rsquo;s fee, consulting fee or other compensation
to be determined in an arm&rsquo;s length negotiation based on the terms of the transaction. In no event, however, will any of
our existing officers, directors, special advisors or initial shareholders, or any entity with which they are affiliated, be paid
any finder&rsquo;s fee, consulting fee or other compensation prior to, or for any services they render in order to effectuate,
the consummation of a business combination (regardless of the type of transaction). If we decide to enter into a business combination
with a target business that is affiliated with our officers, directors or initial shareholders, we will do so only if we have
obtained an opinion from an independent investment banking firm that the business combination is fair to our unaffiliated shareholders
from a financial point of view. However, as of the date of this prospectus, there is no affiliated entity that we consider a business
combination target.</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>

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<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">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Selection of a Target Business
and Structuring of a Business Combination</P>

<P STYLE="font: italic bold 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">Subject to the limitations that a target
business have a fair market value of at least 80% of the balance in the trust account at the time of the execution of a definitive
agreement for our initial business combination, as described below in more detail, our management will have virtually unrestricted
flexibility in identifying and selecting a prospective target business. We have not established any other specific attributes
or criteria (financial or otherwise) for prospective target businesses. In evaluating a prospective target business, our management
may consider a variety of factors, including one or more of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">financial
                                         condition and results of operation;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">growth
                                         potential;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">experience
                                         and skill of management and availability of additional personnel;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">capital
                                         requirements;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">competitive
                                         position;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">barriers
                                         to entry;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">stage
                                         of development of its products, processes or services;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">degree
                                         of current or potential market acceptance of the products, processes or services;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">proprietary
                                         features and degree of intellectual property or other protection for its products, processes
                                         or services;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">regulatory
                                         environment of the industry; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">costs
                                         associated with effecting the business combination.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We believe such factors will be important
in evaluating prospective target businesses, regardless of the location or industry in which such target business operates. However,
this list is not intended to be exhaustive. Furthermore, we may decide to enter into a 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; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Any evaluation relating to the merits
of a particular business combination will be based, to the extent relevant, on the above factors as well as other considerations
deemed relevant by our management in effecting a business combination consistent with our business objective. 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; text-align: justify">&nbsp;</P>

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

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

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<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">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Fair Market Value of Target
Business</P>

<P STYLE="font: italic bold 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">Pursuant to Nasdaq listing rules, the
target business or businesses that we acquire must collectively have a fair market value equal to at least 80% of the balance
of the funds in the trust account at the time of the execution of a definitive agreement for our initial business combination,
although we may acquire a target business whose fair market value significantly exceeds 80% of the trust account balance. We currently
anticipate structuring a business combination to acquire 100% of the equity interests or assets of the target business or businesses.
We may, however, structure a business combination where we merge directly with the target business or where we acquire 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. 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 of a target. In this case, we could 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 issued and 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, only 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. In order to consummate such an acquisition, we may issue a significant amount of our
debt or equity securities to the sellers of such businesses and/or seek to raise additional funds through a private offering of
debt or equity securities. Since we have no specific business combination under consideration, we have not entered into any such
fund raising arrangement and have no current intention of doing so. The fair market value of the target will be determined by
our board of directors based upon one or more standards generally accepted by the financial community (such as actual and potential
sales, earnings, cash flow and/or book value). If our board is not able to independently determine that the target business has
a sufficient fair market value, we will obtain an opinion from an unaffiliated, independent investment banking firm, or another
independent entity that commonly renders valuation opinions on the type of target business we are seeking to acquire, with respect
to the satisfaction of such criteria. We will not be required to obtain an opinion from an independent investment banking firm,
or another independent entity that commonly renders valuation opinions on the type of target business we are seeking to acquire,
as to the fair market value if our board of directors independently determines that the target business complies with the 80%
threshold.</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">If Nasdaq delists our securities from
trading on its exchange after this offering, we would not be required to satisfy the fair market value requirement described above
and could complete a business combination with a target business having a fair market value substantially below 80% of the balance
in the trust account.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Lack of Business Diversification</P>

<P STYLE="font: italic bold 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">Our business combination must be with
a target business or businesses that collectively satisfy the minimum valuation standard at the time of such acquisition, as discussed
above, although this process may entail the simultaneous acquisitions of several operating businesses at the same time. Therefore,
at least initially, the prospects for our success may be entirely dependent upon the future performance of a single business.
Unlike other entities which may have the resources to complete several business combinations of entities operating in multiple
industries or multiple areas of a single industry, it is probable that we will not have the resources to diversify our operations
or benefit from the possible spreading of risks or offsetting of losses. By consummating a business combination with only a single
entity, our lack of diversification may:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">subject
                                         us to numerous economic, competitive and regulatory developments, any or all of which
                                         may have a substantial adverse impact upon the particular industry in which we may operate
                                         subsequent to a business combination, and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">result
                                         in our dependency upon the performance of a single operating business or the development
                                         or market acceptance of a single or limited number of products, processes or services.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If we determine to simultaneously acquire
several businesses and such businesses 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 acquisitions, which may make it more difficult
for us, and delay our ability, to complete the business combination. With multiple acquisitions, 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.</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>

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<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">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Limited Ability to Evaluate
the Target Business&rsquo; Management</P>

<P STYLE="font: italic bold 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">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; text-align: justify">&nbsp;</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Shareholders May Not Have
the Ability to Approve an Initial Business Combination</P>

<P STYLE="font: italic bold 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">In connection with any proposed business
combination, we will either (1) seek shareholder approval of our initial business combination at a meeting called for such purpose
at which public shareholders may seek to convert their public shares, regardless of whether they vote for or against the proposed
business combination, into their <I>pro rata</I> share of the aggregate amount then on deposit in the trust account (net of taxes
payable) or (2) provide our public shareholders with the opportunity to sell their public shares to us by means of a tender offer
(and thereby avoid the need for a shareholder vote) for an amount equal to their <I>pro rata</I> share of the aggregate amount
then on deposit in the trust account (net of taxes payable), in each case subject to the limitations described herein. Notwithstanding
the foregoing, our initial shareholders have agreed, pursuant to written letter agreements with us, not to convert any public
shares held by them into their <I>pro rata</I> share of the aggregate amount then on deposit in the trust account. If we determine
to engage in a tender offer, such tender offer will be structured so that each shareholder may tender any or all of his, her or
its public shares rather than some <I>pro rata</I> portion of his, her or its shares. 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 based on a variety of factors such as the timing of the transaction, whether the terms of the transaction would
otherwise require us to seek shareholder approval or whether we were deemed to be a foreign private issuer (which would require
us to conduct a tender offer rather than seeking shareholder approval under SEC rules). If we so choose and we are legally permitted
to do so, we have the flexibility to avoid a shareholder vote and allow our shareholders to sell their shares pursuant to Rule
13e-4 and Regulation 14E of the Exchange Act which regulate issuer tender offers. In that case, we will file tender offer documents
with the SEC which will contain substantially the same financial and other information about the initial business combination
as is required under the SEC&rsquo;s proxy rules. We will consummate our initial business combination only if we have net tangible
assets of at least $5,000,001 upon such consummation and, solely if we seek shareholder approval, a majority of the issued and
outstanding ordinary shares voted are voted in favor of the 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">We chose our net tangible asset threshold
of $5,000,001 to ensure that we would avoid being subject to Rule 419 promulgated under the Securities Act. However, if we seek
to consummate an initial business combination with a target business that imposes any type of working capital closing condition
or requires us to have a minimum amount of funds available from the trust account upon consummation of such initial business combination,
our net tangible asset threshold may limit our ability to consummate such initial business combination (as we may be required
to have a lesser number of shares converted or sold to us) and may force us to seek third party financing which may not be available
on terms acceptable to us or at all. As a result, we may not be able to consummate such initial business combination and we may
not be able to locate another suitable target within the applicable time period, if at all. Public shareholders may therefore
have to wait 15 months from the closing of this offering (or 18 months if we have extended the period of time as described in
this prospectus) in order to be able to receive a <I>pro rata</I> share of the trust account.</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>

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<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">&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">Our initial shareholders and our
officers and directors have agreed (1) to vote any ordinary shares owned by them in favor of any proposed business
combination, (2) not to convert any ordinary shares in connection with a shareholder vote to approve a proposed initial
business combination and (3) not sell any ordinary shares in any tender in connection with a proposed initial business
combination. As a result, if we sought shareholder approval of a proposed transaction, we would need only 768,751 of our
public shares (or approximately 4.3% of our public shares) to be voted in favor of the transaction in order to have such
transaction approved (assuming the over-allotment option is not exercised and the initial shareholders do not purchase any
units in this offering or units or shares in the after-market).</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">None of our officers, directors, initial
shareholders or their affiliates has indicated any intention to purchase units or ordinary shares in this offering or from persons
in the open market or in private transactions (other than the private units). However, if we hold a meeting to approve a proposed
business combination and a significant number of shareholders vote, or indicate an intention to vote, against such proposed business
combination, our officers, directors, initial shareholders or their affiliates could make such purchases in the open market or
in private transactions in order to influence the vote. Notwithstanding the foregoing, our officers, directors, initial shareholders
and their affiliates will not make purchases of ordinary shares if the purchases would violate Section 9(a)(2) or Rule 10b-5 of
the Exchange Act, which are rules designed to stop potential manipulation of a company&rsquo;s stock.</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">Ability to Extend Time to Complete
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"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If we anticipate that we may not be able
to consummate our initial business combination within 15 months, we may, but are not obligated to, extend the period of time to
consummate a business combination by an additional three months (for a total of up to 18 months to complete a business combination).
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, LLC on the date of this prospectus, in order to extend the
time available for us to consummate our initial business combination, our insiders or their affiliates or designees, upon five
days advance notice prior to the applicable deadline, must deposit into the trust account $1,800,000, or $2,070,000 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.
The insiders will receive a non-interest bearing, unsecured promissory note equal to the amount of any such deposit that will
not be repaid in the event that we are unable to close a business combination unless there are funds available outside the trust
account to do so. Such notes would either be paid upon consummation of our initial business combination, or, at the lender&rsquo;s
discretion, converted upon consummation of our business combination into additional private units at a price of $10.00 per unit.
Our shareholders have approved the issuance of the private units upon conversion of such notes, to the extent the holder wishes
to so convert such notes at the time of the consummation of our initial business combination. In the event that we receive notice
from our insiders five days prior to the applicable deadline of their intent to effect an extension, we intend to issue a press
release announcing such intention at least three days prior to the applicable deadline. In addition, we intend to issue a press
release the day after the applicable deadline announcing whether or not the funds had been timely deposited. Our insiders and
their affiliates or designees are not obligated to fund the trust account to extend the time for us to complete our initial business
combination. To the extent that some, but not all, of our insiders, decide to extend the period of time to consummate our initial
business combination, such insiders (or their affiliates or designees) may deposit the entire amount required.</P>



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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Conversion/Tender Rights</P>

<P STYLE="font: italic bold 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">At any meeting called to approve an initial
business combination, public shareholders may seek to convert their public shares, regardless of whether they vote for or against
the proposed business combination, into their <I>pro rata</I> share of the aggregate amount then on deposit in the trust account,
less any taxes then due but not yet paid. Notwithstanding the foregoing, our initial shareholders have agreed, pursuant to written
letter agreements with us, not to convert any public shares held by them into their <I>pro rata</I> share of the aggregate amount
then on deposit in the trust account. The conversion rights will be effected under our amended and restated memorandum and articles
of association and Cayman Islands law as redemptions. If we hold a meeting to approve an initial business combination, a holder
will always have the ability to vote against a proposed business combination and not seek conversion of his shares.</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">Alternatively, if we engage in a tender
offer, each public shareholder will be provided the opportunity to sell his public shares to us in such tender offer. The tender
offer rules require us to hold the tender offer open for at least 20 business days. Accordingly, this is the minimum amount of
time we would need to provide holders to determine whether they want to sell their public shares to us in the tender offer or
remain an investor in our company.</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">Our initial shareholders, officers and
directors will not have conversion rights with respect to any ordinary shares owned by them, directly or indirectly, whether acquired
prior to this offering or purchased by them in this offering or in the aftermarket.</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">We may also require public shareholders,
whether they are a record holder or hold their shares in &ldquo;street name,&rdquo; to either tender their certificates (if any)
to our transfer agent or to deliver their shares to the transfer agent electronically using Depository Trust Company&rsquo;s DWAC
(Deposit/Withdrawal At Custodian) System, at the holder&rsquo;s option, at any time at or prior to the vote on the business combination.
Once the shares are converted by the holder, and effectively redeemed by us under Cayman Islands law, the transfer agent will
then update our Register of Members to reflect all conversions. The proxy solicitation materials that we will furnish to shareholders
in connection with the vote for any proposed business combination will indicate whether we are requiring shareholders to satisfy
such delivery requirements. Accordingly, a shareholder would have from the time our proxy statement is mailed through the vote
on the business combination to deliver his shares if he wishes to seek to exercise his conversion rights. Under our amended and
restated memorandum and articles of association, we are required to provide at least 10 days&rsquo; advance notice of any shareholder
meeting, which would be the minimum amount of time a shareholder would have to determine whether to exercise conversion rights.
As a result, if we require public shareholders who wish to convert their ordinary shares into the right to receive a <I>pro rata
</I>portion of the funds in the trust account to comply with the foregoing delivery requirements, holders may not have sufficient
time to receive the notice and deliver their shares for conversion. Accordingly, investors may not be able to exercise their conversion
rights and may be forced to retain our securities when they otherwise would not want to.</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>

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<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"></P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There is a nominal cost associated with
this 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 and it would be up to the broker whether or not to pass this cost on to the converting
holder. However, this fee would be incurred regardless of whether or not we require holders seeking to exercise conversion rights.
The need to deliver shares is a requirement of exercising conversion rights regardless of the timing of when such delivery must
be effectuated. However, in the event we require shareholders seeking to exercise conversion rights to deliver their shares prior
to the consummation of the proposed business combination and the proposed business combination is not consummated, this may result
in an increased cost to shareholders.</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">Any request to convert or tender such
shares once made, may be withdrawn at any time up to the vote on the proposed business combination or expiration of the tender
offer. Furthermore, if a holder of a public share delivered his certificate in connection with an election of their conversion
or tender and subsequently decides prior to the vote on the business combination or the expiration of the tender offer not to
elect to exercise such rights, he may simply request that the transfer agent return the certificate (physically or electronically).</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">If the initial business combination is
not approved or completed for any reason, then our public shareholders who elected to exercise their conversion or tender rights
would not be entitled to convert their shares for the applicable <I>pro rata</I> share of the trust account. In such case, we
will promptly return any shares delivered by public holders.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Automatic Liquidation of Trust
Account if No Business Combination</P>

<P STYLE="font: italic bold 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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If we do not complete a business combination
within 15 months from the consummation of this offering, it will trigger our automatic winding up, dissolution and liquidation
pursuant to the terms of our amended and restated memorandum and articles of association. As a result, this has the same effect
as if we had formally gone through a voluntary liquidation procedure under the Companies Law. Accordingly, no vote would be required
from our shareholders to commence such a voluntary winding up, dissolution and liquidation. However, if we anticipate that we
may not be able to consummate our initial business combination within 15 months, we may, but are not obligated to, extend the
period of time to consummate a business combination by an additional three months (for a total of up to 18 months to complete
a business combination). 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, LLC on the date of this prospectus,
in order to extend the time available for us to consummate our initial business combination, our insiders or their affiliates
or designees, upon five days advance notice prior to the applicable deadline, must deposit into the trust account $1,800,000,
or $2,070,000 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. The insiders will receive a non-interest bearing, unsecured promissory note equal to the
amount of any such deposit that will not be repaid in the event that we are unable to close a business combination unless there
are funds available outside the trust account to do so. Such notes would either be paid upon consummation of our initial business
combination, or, at the lender&rsquo;s discretion, converted upon consummation of our business combination into additional private
units at a price of $10.00 per unit. Our shareholders have approved the issuance of the private units upon conversion of such
notes, to the extent the holder wishes to so convert such notes at the time of the consummation of our initial business combination.
In the event that we receive notice from our insiders five days prior to the applicable deadline of their intent to effect an
extension, we intend to issue a press release announcing such intention at least three days prior to the applicable deadline.
In addition, we intend to issue a press release the day after the applicable deadline announcing whether or not the funds had
been timely deposited. Our insiders and their affiliates or designees are not obligated to fund the trust account to extend the
time for us to complete our initial business combination. To the extent that some, but not all, of our insiders, decide to extend
the period of time to consummate our initial business combination, such insiders (or their affiliates or designees) may deposit
the entire amount required. If we are unable to consummate our initial business combination within such time period, we will,
as promptly as possible but not more than ten business days thereafter, redeem 100% of our outstanding public shares for a pro
rata portion of the funds held in the trust account, including a pro rata portion of any interest earned on the funds held in
the trust account and not necessary to pay our taxes, and then seek to liquidate and dissolve. However, we may not be able to
distribute such amounts as a result of claims of creditors which may take priority over the claims of our public shareholders.
In the event of our dissolution and liquidation, the public rights will expire and will be worthless.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The amount in the trust account (less
approximately $1,800 representing the aggregate nominal par value of the shares of our public shareholders) under the Companies
Law will be treated as share premium which is distributable under the Companies Law provided that immediately following the date
on which the proposed distribution is proposed to be made, we are able to pay our debts as they fall due in the ordinary course
of business. If we are forced to liquidate the trust account, we anticipate that we would distribute to our public shareholders
the amount in the trust account calculated as of the date that is two days prior to the distribution date (including any accrued
interest). Prior to such distribution, we would be required to assess all claims that may be potentially brought against us by
our creditors for amounts they are actually owed and make provision for such amounts, as creditors take priority over our public
shareholders with respect to amounts that are owed to them. We cannot assure you that we will properly assess all claims that
may be potentially brought against us. As such, our shareholders could potentially be liable for any claims of creditors to the
extent of distributions received by them as an unlawful payment in the event we enter an insolvent liquidation. Furthermore, while
we will seek to have all vendors and service providers (which would include any third parties we engaged to assist us in any way
in connection with our search for a target business) and prospective target businesses execute agreements with us waiving any
right, title, interest or claim of any kind they may have in or to any monies held in the trust account, there is no guarantee
that they will execute such agreements. Nor is there any guarantee that, even if such entities execute such agreements with us,
they will not seek recourse against the trust account or that a court would conclude that such agreements are legally enforceable.</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">Each of our initial shareholders and
our sponsor has agreed to waive its rights to participate in any liquidation of our trust account or other assets with respect
to the insider shares and private units and to vote their insider shares, private shares in favor of any dissolution and plan
of distribution which we submit to a vote of shareholders. There will be no distribution from the trust account with respect to
our warrants or rights, which will expire worthless.</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>

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<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">If we are unable to complete an initial
business combination and 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 initial per-share distribution from the trust
account would be $10.00.</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">The proceeds deposited in the trust account
could, however, become subject to the claims of our creditors which would be prior to the claims of our public shareholders. Although
we will seek to have all vendors, including lenders for money borrowed, prospective target businesses or other entities we engage
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 a claim against our assets, including the funds held in the trust account.
If any third party refused to execute an agreement waiving such claims to the monies held in the trust account, we would perform
an analysis of the alternatives available to us if we chose not to engage such third party and evaluate if such engagement would
be in the best interest of our shareholders if such third party refused to waive such claims. Examples of possible instances where
we may engage a third party that refused 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 provider of required services willing to provide the waiver.
In any event, our management would perform an analysis of the alternatives available to it and would only enter into an agreement
with a third party that did not execute a waiver if management believed that such third party&rsquo;s engagement would be significantly
more beneficial to us than any alternative. 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.</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">Bing Lin, our Chairman and Chief Executive
Officer, <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">has agreed that, if we liquidate the trust
account prior to the consummation of a business combination, he will be liable to pay debts and obligations to target businesses
or vendors or other entities that are owed money by us for services rendered or contracted for or products sold to us in excess
of the net proceeds of this offering not held in the trust account, but only to the extent necessary to ensure that such debts
or obligations do not reduce the amounts in the trust account and only if such parties have not executed a waiver agreement. However,
we cannot assure you that he will be able to satisfy those obligations if he is required to do so. Accordingly, the actual per-share
distribution could be less than $10.00 due to claims of creditors. Additionally, if we are forced to file a bankruptcy case or
an involuntary bankruptcy case is filed against us which 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, we cannot assure you we will
be able to return to our public shareholders at least $10.00 per share.</FONT></P>

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

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

<P STYLE="font: bold 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">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 acquire with the net proceeds of this offering, our ability to compete in acquiring
certain sizable target businesses may be limited by our available financial resources.</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">The following also may not be viewed favorably
by certain target businesses:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">our
                                         obligation to seek shareholder approval of a business combination or obtain the necessary
                                         financial information to be sent to shareholders in connection with such business combination
                                         may delay or prevent the completion of a transaction;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">our
                                         obligation to convert public shares held by our public shareholders may reduce the resources
                                         available to us for a business combination;</TD></TR></TABLE>

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

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

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">Nasdaq
                                         may require us to file a new listing application and meet its initial listing requirements
                                         to maintain the listing of our securities following a business combination;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">our
                                         outstanding warrants, rights and unit purchase options and the potential future dilution
                                         they represent;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">our
                                         obligation to pay EarlyBirdCapital a fee of 3.5% of the gross proceeds of this offering
                                         upon consummation of our initial business combination pursuant to the business combination
                                         marketing agreement, as described under the section titled &ldquo;Underwriting &mdash;
                                         Business Combination Marketing Agreement&rdquo;;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">our
                                         obligation to either repay or issue units upon conversion of up to $500,000 of working
                                         capital loans that may be made to us by our initial shareholders, officers, directors
                                         or their affiliates;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">our
                                         obligation to register the resale of the insider shares, as well as the private units
                                         (and underlying securities) and any securities issued to our initial shareholders, officers,
                                         directors or their affiliates upon conversion of working capital loans; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">the
                                         impact on the target business&rsquo; assets as a result of unknown liabilities under
                                         the securities laws or otherwise depending on developments involving us prior to the
                                         consummation of a business combination.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Any of these factors may place us at a
competitive disadvantage in successfully negotiating a business combination. Our management believes, however, that our status
as a public entity and potential access to the United States public equity markets may give us a competitive advantage over privately-held
entities having a similar business objective as ours in acquiring a target business with significant growth potential on favorable
terms. Furthermore, the fact that we will not be required to pay our underwriters any deferred compensation upon consummation
of an initial business combination may give us a competitive advantage over other similarly structured blank check companies.</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">If we succeed in effecting a business
combination, there will be, in all likelihood, intense competition from competitors of the target business. We cannot assure you
that, subsequent to a business combination, we will have the resources or ability to compete effectively.</P>

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

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

<P STYLE="font: bold 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">We maintain our principal executive offices
at Suite 1003-1004, 10/F, ICBC Tower, Three Garden Road, Central, Hong Kong. The investment manager of our sponsor, CM Asset Management
(Hongkong) Company Limited, is providing us this space free of charge. We consider our current office space adequate for our current
operations.</P>

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

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

<P STYLE="font: bold 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">We have five executive officers. These
individuals are not obligated to devote any specific number of hours to our matters and intend to devote only as much time as
they deem necessary to our affairs. The amount of time they will devote in any time period will vary based on whether a target
business has been selected for the business combination and the stage of the business combination process the company is in. Accordingly,
once management locates a suitable target business to acquire, they will spend more time investigating such target business and
negotiating and processing the business combination (and consequently spend more time to our affairs) than they would prior to
locating a suitable target business. We presently expect our executive officers to devote such amount of time as they reasonably
believe is necessary to our business (which could range from only a few hours a week while we are trying to locate a potential
target business to a majority of their time as we move into serious negotiations with a target business for a business combination).
We do not intend to have any full time employees prior to the consummation of a business combination.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Periodic Reporting and Audited Financial
Statements</P>

<P STYLE="font: bold 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">We have registered our units, ordinary
shares, warrants 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 report will contain
financial statements audited and reported on by our independent registered public accountants.</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>

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<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">We will provide shareholders with audited
financial statements of the prospective target business as part of any proxy solicitation sent to shareholders to assist them
in assessing the target business. In all likelihood, the financial information included in the proxy solicitation materials will
need to be prepared in accordance with U.S. GAAP or IFRS, depending on the circumstances, and the historical financial statements
may be required to be audited in accordance with the standards of the PCAOB. The financial statements may also be required to
be prepared in accordance with U.S. GAAP for the Form 8-K announcing the closing of an initial business combination, which would
need to be filed within four business days thereafter. We cannot assure you that any particular target business identified by
us as a potential acquisition candidate will have the necessary financial information. To the extent that this requirement cannot
be met, we may not be able to acquire the proposed target business.</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">We will be required to comply with the
internal control requirements of the Sarbanes-Oxley Act beginning for the fiscal year ending December 31, 2018. 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; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are an emerging growth company as defined
in the JOBS Act and will remain such for up to five years. However, if our non-convertible debt issued within a three-year period
or our total revenues exceed $1.07 billion or the market value of our ordinary shares that are held by non-affiliates exceeds $1.0
billion on the last day of the second fiscal quarter of any given fiscal year, we would cease to be an emerging growth company
as of the following fiscal year. As an emerging growth company, we have elected, under Section 107(b) of the JOBS Act, to take
advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act for complying with new or revised
accounting standards.</P>

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

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

<P STYLE="font: bold 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">There is no material litigation, arbitration
or governmental proceeding currently pending against us or any of our officers or directors in their capacity as such, and we
and our officers and directors have not been subject to any such proceeding in the 12 months preceding the date of this prospectus.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Comparison to Offerings of Blank
Check Companies Subject to Rule 419</P>

<P STYLE="font: bold 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">The following table compares and contrasts
the terms of our offering and the terms of an offering of blank check companies under Rule 419 promulgated by the SEC assuming
that the gross proceeds, underwriting discounts and underwriting expenses for the Rule 419 offering are the same as this offering
and that the underwriters will not exercise their over-allotment option. None of the terms of a Rule 419 offering will apply to
this offering because we will be listed on a national securities exchange, we will have net tangible assets in excess of $5,000,001
upon the successful consummation of this offering and will file a Current Report on Form 8-K, including an audited balance sheet
demonstrating this fact.</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: 28%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 28%; border-bottom: Black 1pt solid"><B>Terms of the Offering</B></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 42%; border-bottom: Black 1pt solid"><B>Terms Under a Rule 419 Offering</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Escrow of offering proceeds</B></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><P STYLE="margin: 0pt 0">$180,000,000 of the net offering proceeds and proceeds from the sale of the private units will be deposited
into a trust account in the United States, maintained by Continental Stock Transfer &amp; Trust Company, acting as trustee.</P>


</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><P STYLE="margin: 0pt 0">$152,505,000 of the offering proceeds 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.</P>


</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><B>Investment of net proceeds</B></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><P STYLE="margin: 0pt 0">The $180,000,000 of the net offering proceeds and proceeds from the sale of the private units held in
trust will only be invested in United States government treasury bills, bonds or notes with a maturity of 180 days or less or in
money market funds meeting the applicable conditions under Rule 2a-7 promulgated under the Investment Company Act of 1940 and that
invest solely in United States government treasuries.</P>


</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Proceeds could be invested only in specified securities such as a money market fund meeting
    conditions of the Investment Company Act of 1940 or in securities that are direct obligations of, or obligations guaranteed
    as to principal or interest by, the United States.</TD></TR>
</TABLE>

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

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

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<P STYLE="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: 28%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 28%"><B>Terms of the Offering</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 42%"><B>Terms Under a Rule 419 Offering</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in"><B>Limitation on fair value or net assets of target business</B></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">The initial target business that we acquire must have a fair market value equal to at least
    80% of the balance in our trust account at the time of the execution of a definitive agreement for our initial business combination.</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">We would be restricted from acquiring a target business unless the fair value of such business
    or net assets to be acquired represent at least 80% of the maximum offering proceeds.</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><B>Trading of securities issued</B></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">The units may commence trading on or promptly after the date of this prospectus. The ordinary
    shares, warrants and rights comprising the units will begin to trade separately on the 90th day after the date of this prospectus
    unless EarlyBirdCapital informs us of its decision to allow earlier separate trading (based upon its assessment of the relative
    strengths of the securities markets and small capitalization and blank check companies in general, and the trading pattern
    of, and demand for, our securities in particular), provided we have filed with the SEC a Current Report on Form 8-K, which
    includes an audited balance sheet reflecting our receipt of the proceeds of this offering.</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">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.</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><B>Exercise of the warrants</B></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">The warrants cannot be exercised until the completion of a business combination and, accordingly,
    will be exercised only after the trust account has been terminated and distributed.</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">The warrants could be exercised prior to the completion of a business combination, but securities
    received and cash paid in connection with the exercise would be deposited in the escrow or trust account.</TD></TR>
</TABLE>

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

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

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<P STYLE="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: 28%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 28%"><B>Terms of the Offering</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 42%"><B>Terms Under a Rule 419 Offering</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><B>Election to remain an investor</B></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">We will either (1) give our shareholders the opportunity to vote on the business combination
    or (2) provide our public shareholders with the opportunity to sell their public shares to us in a tender offer for cash equal
    to their <I>pro rata</I> share of the aggregate amount then on deposit in the trust account, less taxes. If we hold a meeting
    to approve a proposed business combination, we will send each shareholder a proxy statement containing information required
    by the SEC. Under our amended and restated memorandum and articles of association, we must provide at least 10 days advance
    notice of any meeting of shareholders. Accordingly, this is the minimum amount of time we would need to provide holders to
    determine whether to exercise their rights to convert their shares into cash at such a meeting or to remain an investor in
    our company. Alternatively, if we do not hold a meeting and instead conduct a tender offer, we will conduct such tender offer
    in accordance with the tender offer rules 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 as we would have included in a proxy statement.
    The tender offer rules require us to hold the tender offer open for at least 20 business days. Accordingly, this is the minimum
    amount of time we would need to provide holders to determine whether they want to sell their shares to us in the tender offer
    or remain an investor in our company.</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">A prospectus containing information 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 the post-effective amendment, to decide whether he or she elects
    to remain a shareholder of the company or require the return of his or her investment. If the company has not received the
    notification by the end of the 45th business day, funds and interest or dividends, if any, held in the trust or escrow account
    would automatically be returned to the shareholder. Unless a sufficient number of investors elect to remain investors, all
    of the deposited funds in the escrow account must be returned to all investors and none of the securities will be issued.</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><B>Business combination deadline</B></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><P STYLE="margin: 0pt 0">Pursuant to our amended and restated memorandum and articles of
                                    association, if we do not complete an initial business combination within 15 months from the
                                    consummation of this offering (or 18 months as described elsewhere herein), it will trigger
                                    our automatic winding up, dissolution and liquidation.</P> </TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">If an acquisition has not been consummated within 18 months after the effective date of
    the initial registration statement, funds held in the trust or escrow account would be returned to investors.</TD></TR>
</TABLE>

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

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

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<P STYLE="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: 28%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 28%"><B>Terms of the Offering</B></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 42%"><B>Terms Under a Rule 419 Offering</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in"><B>Interest earned on the funds in the trust account</B></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">There can be released to us, from time to time any interest earned on the funds in the
    trust account that we may need to pay our tax obligations. The remaining interest earned on the funds in the trust account
    will not be released until the earlier of the completion of a business combination and our entry into liquidation upon failure
    to effect a business combination within the allotted time.</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">All interest earned on the funds in the trust account will be held in trust for the benefit
    of public shareholders until the earlier of the completion of a business combination and our liquidation upon failure to effect
    a business combination within the allotted time.</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><B>Release of funds</B></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">Except for interest earned on the funds held in the trust account that may be released
    to us to pay our tax obligations, the proceeds held in the trust account will not be released until the earlier of the completion
    of a business combination (in which case, the proceeds released to us will be net of the funds used to pay converting or tendering
    shareholders, as the trustee will directly send the appropriate portion of the amount held in trust to the converting or tendering
    shareholders at the time of the business combination) and the liquidation of our trust account upon failure to effect a business
    combination within the allotted time.</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">The proceeds held in the escrow account would not be released until the earlier of the
    completion of a business combination or the failure to effect a business combination within the allotted time.</TD></TR>
</TABLE>



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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a011_v1"></A>MANAGEMENT</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Directors and Executive Officers</P>

<P STYLE="font: bold 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">Our current directors and executive officers
are as follows:</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: 70%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 39%; border-bottom: Black 1pt solid"><B>Name</B></TD>
    <TD STYLE="width: 3%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 58%; border-bottom: Black 1pt solid; text-align: center"><B>Position</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">Bing Lin</TD>
    <TD STYLE="text-align: center; padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">Chairman and Chief Executive Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">Stephen N. Cannon</TD>
    <TD STYLE="text-align: center; padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">President, Chief Financial Officer and Director</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">Alan Chow</TD>
    <TD STYLE="text-align: center; padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">Chief Operating Officer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">Kathy Li</TD>
    <TD STYLE="text-align: center; padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">Director of Investor Relations</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">Patrick Ho</TD>
    <TD STYLE="text-align: center; padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">Senior Vice President</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">Jiong Shao</TD>
    <TD STYLE="text-align: center; padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">Director</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt">Michele Smith</TD>
    <TD STYLE="text-align: center; padding-bottom: 6pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 6pt">Director</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Maryann Tseng</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>Director</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>Mr. Bing Lin</B>, 45, has been our
Chairman and Chief Executive Officer since July 2017 and director since November 2016. Mr. Lin has served as a Managing Director
of CM Asset Management (Hongkong) Company Limited, the investment manager of our sponsor, since March 2016. From November 2014
to December 2015, Mr. Lin founded and ran Gaohui Fund, a pan-Asia long/short equity fund. From February 2012 to October 2014,
Mr. Lin was an Executive Director and a member of the investment committee of Keywise Capital Management (HK) Limited. From November
2005 to December 2011, Mr. Lin was a Principal and Chief Investment Officer of MICH Investments Limited. From August 2004 to October
2005, Mr. Lin was a Portfolio Manager for SSgA&rsquo;s Emerging Market Equity group. SSgA is one of the largest institutional
asset managers worldwide. From September 2002 to July 2004, Mr. Lin was a research analyst of Joho Capital, LLC in New York. From
January 1998 to August 2000, Mr. Lin was a CPA at Ernst &amp; Young LLP in the United States. Mr. Lin received a B.A. in Accounting
from Franklin University in 1996, an M.S. in accounting from Kent State University in 1997, and an MBA from the Harvard Graduate
School of Business Administration in 2002. He lectures at Peking University as an Adjunct Professor and is a standing committee
member of the Shanghai Finance Federation. Mr. Lin is well-qualified to serve as a director given his significant directorship
experience, in-depth knowledge and experience in the Chinese and global capital markets, and his board experience in the finance
sector for over 18 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 0.05in 0pt 0; text-align: justify"><B>Mr. Stephen N. Cannon</B>,
49, has been our President, Chief Financial Officer and director since July 2017. Since October 2014, Mr. Cannon has been President
of Everest Partners Limited, a privately owned investment firm, focused on Asian private investments. From June 2014 until July
2016, Mr. Cannon was CEO and a director of DT Asia Acquisition Corp, a Nasdaq-listed SPAC, which successfully consummated its
merger with a Chinese company, China Lending Corporation (NASD: CLDC). From April 2010 until October 2014, Mr. Cannon was a Partner
and Head of China for RedBridge Group Ltd, a boutique merchant banking firm focused on Chinese and Arabian Gulf cross-border investments.
From June 2009 until October 2014, Mr. Cannon was a senior advisor at Ackrell &amp; Co, a U.S. broker-dealer. From May 2007 until
April 2010, Mr. Cannon served in various capacities with Hambrecht Asia Acquisition Corp., a Nasdaq-listed SPAC. Mr. Cannon was
a co-founder, initial Chief Financial Officer and a director, and then VP of Acquisitions, for Hambrecht Asia Acquisition Corp.
From July 2005 until October 2008, Mr. Cannon served as a Managing Director of Asian investment banking for WR Hambrecht &amp;
Co. Prior to WR Hambrecht &amp; Co, Mr. Cannon worked at the following investment banking firms: Ackrell &amp; Co (2003-2005);
ABN-Amro Securities (2000-2002); Donaldson Lufkin &amp; Jenrette (1994-2000); Smith Barney (1993-1994); and Salomon Brothers (1991-1993).
Mr. Cannon graduated from the University of Notre Dame with a Bachelor&rsquo;s degree in Mechanical Engineering and a Bachelor&rsquo;s
degree in Economics. Mr. Cannon is currently an advisor to the Royal family of Cambodia. In addition, he serves as a board member
of the Cambodian Hotel Association. We believe Mr. Cannon is well-qualified to serve as a member of the board due to his in depth
knowledge and experience in the U.S. and China capital markets and his prior experience with SPACs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.05in 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.05in 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.05in 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Mr. Alan Kai Yuu Chow</B>, 39, has
been our Chief Operating Officer since July 2017. Since September 2016, Mr. Chow has been the Head of Operations of CM Asset Management
(Hongkong) Company Limited. From February 2014 to September 2016, Mr. Chow was Head of Operations and Risk Management of Neo-Criterion
Capital Limited, a boutique asset manager focused on China A-Shares investment. From August 2012 to January 2014, Mr. Chow was
Vice President of Operations of the Absolute Return Platform under the China Everbright umbrella, where he was responsible for
running operations for this hedge fund platform. From 2005 to 2012, Mr. Chow held various roles in risk management and product
control on both the buy and sell sides, including at Goldman Sachs, Deutsche Bank, HSBC, and Maple Leaf Capital. From 2000 to
2002, Mr. Chow started his career as a software designer at Nortel Networks in Canada. He graduated from Queen&rsquo;s University
of Canada with an MBA degree in 2003 and a Bachelor of Science degree in Electrical Engineering in 2000. Mr. Chow is a CAIA and
FRM Charterholder.</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"><B>Miss Wing Yan Kathy Li</B>, 37,
has been our Director of Investor Relations since July 2017. Since June 2017, Miss Li has been the Head of Business Development
of CM Asset Management (Hongkong) Company Limited, the investment manager of our sponsor. From March 2014 to December 2016, Miss
Li was the Head of Investor Relations and Trader for Neo-Criterion Capital Limited, a boutique asset manager focused on China
A-Shares investment. From December 2006 to September 2012, Miss Li held various roles within the Prime Brokerage/Prime Finance
divisions both in the U.S. and Hong Kong including Goldman Sachs &amp; Co in New York (December 2006 to August 2009), Citigroup
Global Markets Asia Limited (February 2010 to January 2012) and Deutsche Bank AG in Hong Kong (March 2012 to September 2012).
Miss Li began her career as an auditor at Deloitte &amp; Touch&eacute; LLP in New York from November 2003 to December 2006. Miss
Li has held a Series 7 license with FINRA. Miss Li received a Bachelor of Science in CPA Accounting and Finance with cum laude
from New York University Leonard N. Stern School of Business. She is a CAIA, CFA and CPA Charterholder.</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"><B>Mr. Kum Loon Patrick Ho</B>, 44, has
been our Senior Vice President since July 2017. Since January 2017, Mr. Ho has been the Head Trader of CM Asset Management (Hongkong)
Company Limited. From March 2014 to January 2017, Mr. Ho worked with FB Investment Management Limited, a wholly owned subsidiary
of Fubon Bank (Hong Kong) Limited and co-managed a mixed asset retirement fund. Mr. Ho was promoted to Head of FB Investment Management
Limited from November 2015. From September 2010 to October 2013, Mr. Ho was a portfolio manager at HSBC Private Bank. From March
2008 to May 2010, Mr. Ho was the Chief Operating Officer of MICH Investment (Asia) Limited, responsible for the trading and operations
team. From August 2005 to March 2008, Mr. Ho was a Senior Fund Manager with Piper Jaffray Asia Asset Management Limited where
he co-managed a China-focused fund. From September 2000 to August 2005, Mr. Ho worked at Grand Alliance Asset Management Limited,
most recently as Fund Manager, where he helped manage Funds with Asian focus. From January 1998 to August 2000, Mr. Ho worked
in the treasury of Royal Bank of Scotland in Singapore, where he was involved in trading and making markets in money market products
and currency forwards. Mr. Ho obtained a BSc(Econ) degree in Accounting and Finance with First Class Honors from the London School
of Economics and Political Science and a MSc degree in Financial Engineering from City University in Hong Kong. He is a CFA Charterholder.</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"><B>Mr. Jiong Shao</B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">,
49, will serve as a director upon completion of this offering. Mr. Shao has been the Managing Director of CEC Capital, a financial
advisory firm, since August 2017. From November 2015 to May 2017, Mr. Shao was a managing director and head of China TMT investment
banking for Deutsche Bank in Hong Kong. Previously, from August 2010 to November 2015, Mr. Shao was a managing director with Macquarie
Capital in Hong Kong and held multiple senior positions including head of Greater China TMT investment banking, head of Asia TMT
equity research, head of China research and China strategist. Prior to that, Mr. Shao worked in different areas of capital markets
in the financial services industry at Lehman Brothers, Deutsche Bank and Nomura International in both New York and Hong Kong since
2000. Mr. Shao obtained an MBA from the Fuqua School of Business of Duke University in 2000. We believe Mr. Shao is well-qualified
to serve as a member of the board due to his extensive research experience and understanding of the financial markets.</FONT></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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Ms. Michele Ann Smith</B>, 46, will
serve as a director following the completion of this offering. Ms. Smith worked as an attorney at the New Jersey law firm of Hartmann,
Doherty, Rosa, Berman &amp; Bulbulia (HDRBB) from September 2008 to January 2013. She will return to HDRBB in October 2017 after
a period of family leave. After graduating from Harvard Law School with honors, Ms. Smith clerked for the Honorable Susan J. Dlott,
U.S. District Judge for the Southern District of Ohio, from September 1998 to September 1999. Following her clerkship, from October
1999 to June 2000, Ms. Smith worked as an associate at Vorys, Sater, Seymour &amp; Pease LLP, in Cincinnati, Ohio, and then was
the Albert M. Sacks Clinical Fellow at the Criminal Justice Institute at Harvard Law School from August 2000 to June 2002. As
a Sacks Fellow, Michele spent two years representing indigent adults and juveniles in criminal and delinquency proceedings in
the Massachusetts courts, and also assisted the Criminal Justice Institute&rsquo;s efforts to advocate for national and local
reform of the criminal and juvenile justice systems. Ms. Smith worked as an associate at Stroock &amp; Stroock &amp; Lavan LLP
in New York City, from September 2002 to October 2003, and at Bonny Rafel LLC, an ERISA litigation boutique in New Jersey, from
September 2006 to August 2008. She is a member of the New Jersey and New York bars and is on inactive status with the Massachusetts
and Ohio bars. We believe Ms. Smith is well-qualified to serve as a member of the board given her depth and track record successfully
navigating legal issues of varying scope and complexity.</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">&nbsp;</P>

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

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<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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Ms. Tzu Wen Maryann Tseng</B>, 41, will
serve as a director upon completion of this offering. As of October 2017, Ms. Tseng will join CLSA Limited, a brokerage and investment
group, as a Managing Director. Ms. Tseng has been an Executive Director with Morgan Stanley in the Institutional Equity Division
since August 2010, servicing global financial managers, and will leave Morgan Stanley in September 2017. Prior to Morgan Stanley,
from July 2006 to May 2010 Ms. Tseng was a Director at Deutsche Bank and BOCI, specializing in equity markets. Ms. Tsang graduated
from the University of Calgary with a Bachelor of Arts in Economics, and earned a certificate from the Stanford Senior Executive
Leadership Program (including the completion of the Stanford Directors&rsquo; College in June 2017). We believe Ms. Tseng is well-qualified
to serve as a member of the board due to her number of years services in the financial industry, understanding of the fiduciary
duties as a board member, her high standard of ethics as well as her excellent professionalism.</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">&nbsp;</P>

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

<P STYLE="font: bold 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">No executive officer has received any
cash compensation for services rendered to us. No compensation of any kind, including finders, consulting or other similar fees,
will be paid to any of our existing shareholders, including our directors, or any of their respective affiliates, prior to, or
for any services they render in order to effectuate, the consummation of a business combination. However, such individuals 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 limit on the amount of these out-of-pocket
expenses and there will be no review of the reasonableness of the expenses by anyone other than our board of directors and audit
committee, which includes persons who may seek reimbursement, or a court of competent jurisdiction if such reimbursement is challenged.</P>

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

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

<P STYLE="font: bold 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">Currently, Jiong Shao, Michele Smith and
Maryann Tseng would each be considered an &ldquo;independent director&rdquo; under the Nasdaq listing rules, which is defined
generally as a person other than an officer or employee of the company or its subsidiaries or any other individual having a relationship,
which, in the opinion of the company&rsquo;s board of directors would interfere with the director&rsquo;s exercise of independent
judgment in carrying out the responsibilities of a director. 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; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We will only enter into a business combination
if it is approved by a majority of our independent directors. Additionally, we will only enter into transactions with our officers
and directors and their respective affiliates that are on terms no less favorable to us than could be obtained from independent
parties. Any related-party transactions must also be approved by our audit committee and a majority of disinterested independent
directors.</P>

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

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

<P STYLE="font: bold 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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Effective as of the date of this prospectus,
we have established an audit committee of the board of directors, which will consist of Jiong Shao, Michele Smith and Maryann
Tseng, each of whom is an independent director under Nasdaq&rsquo;s listing standards. Jiong Shao is the Chairperson of the audit
committee. The audit committee&rsquo;s duties, which are specified in our Audit Committee Charter, include, but are not limited
to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">reviewing
                                         and discussing with management and the independent auditor the annual audited financial
                                         statements, and recommending to the board whether the audited financial statements should
                                         be included in our Form 10-K;</TD></TR></TABLE>

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

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

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">discussing
                                         with management and the independent auditor significant financial reporting issues and
                                         judgments made in connection with the preparation of our financial statements;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">discussing
                                         with management major risk assessment and risk management policies;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">monitoring
                                         the independence of the independent auditor;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">verifying
                                         the rotation of the lead (or coordinating) audit partner having primary responsibility
                                         for the audit and the audit partner responsible for reviewing the audit as required by
                                         law;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">reviewing
                                         and approving all related-party transactions;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">inquiring
                                         and discussing with management our compliance with applicable laws and regulations;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">pre-approving
                                         all audit services and permitted non-audit services to be performed by our independent
                                         auditor, including the fees and terms of the services to be performed;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">appointing
                                         or replacing the independent auditor;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">determining
                                         the compensation and oversight of the work of the independent auditor (including resolution
                                         of disagreements between management and the independent auditor regarding financial reporting)
                                         for the purpose of preparing or issuing an audit report or related work;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">establishing
                                         procedures for the receipt, retention and treatment of complaints received by us regarding
                                         accounting, internal accounting controls or reports which raise material issues regarding
                                         our financial statements or accounting policies; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">approving
                                         reimbursement of expenses incurred by our management team in identifying potential target
                                         businesses.</TD></TR></TABLE>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial Experts on Audit Committee</P>

<P STYLE="font: bold 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">The audit committee will at all times
be composed exclusively of &ldquo;independent directors&rdquo; who are &ldquo;financially literate&rdquo; as defined under Nasdaq
listing standards. Nasdaq listing standards define &ldquo;financially literate&rdquo; as being able to read and understand fundamental
financial statements, including a company&rsquo;s balance sheet, income statement and cash flow statement.</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">In addition, we must certify to Nasdaq
that the committee has, and will continue to have, at least one member who has past employment experience in finance or accounting,
requisite professional certification in accounting, or other comparable experience or background that results in the individual&rsquo;s
financial sophistication. The board of directors has determined that Maryann Tseng and Jiong Shao each qualify as an &ldquo;audit
committee financial expert,&rdquo; as defined under rules and regulations of the SEC.</P>

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

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

<P STYLE="font: bold 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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Effective as of the date of this prospectus,
we have established a nominating committee of the board of directors, which will consist of Jiong Shao, Michele Smith and Maryann
Tseng, each of whom is an independent director under Nasdaq&rsquo;s listing standards. Jiong Shao is the Chairperson 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; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Guidelines for Selecting Director
Nominees</P>

<P STYLE="font: bold 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">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; text-align: justify">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">should
                                         have demonstrated notable or significant achievements in business, education or public
                                         service;</TD></TR></TABLE>

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

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

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">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</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">should
                                         have the highest ethical standards, a strong sense of professionalism and intense dedication
                                         to serving the interests of the shareholders.</TD></TR></TABLE>

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

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

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

<P STYLE="font: bold 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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Effective as of the date of this prospectus,
we will establish a compensation committee of the board of directors, which will consist of Jiong Shao, Michele Smith and Maryann
Tseng, each of whom is an independent director under Nasdaq&rsquo;s listing standards. Jiong Shao is the Chairperson of the compensation
committee. The compensation committee&rsquo;s duties, which are specified in our Compensation Committee Charter, include, but
are not limited to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">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;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">reviewing
                                         and approving the compensation of all of our other executive officers;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">reviewing
                                         our executive compensation policies and plans;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">implementing
                                         and administering our incentive compensation equity-based remuneration plans;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">assisting
                                         management in complying with our proxy statement and annual report disclosure requirements;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">approving
                                         all special perquisites, special cash payments and other special compensation and benefit
                                         arrangements for our executive officers and employees;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">if
                                         required, producing a report on executive compensation to be included in our annual proxy
                                         statement; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">reviewing,
                                         evaluating and recommending changes, if appropriate, to the remuneration for directors.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notwithstanding the foregoing, as indicated
above, no compensation of any kind, including finders, consulting or other similar fees, will be paid to any of our existing shareholders,
including our directors, or any of their respective affiliates, prior to, or for any services they render in order to effectuate,
the consummation of a business combination. Accordingly, it is likely that prior to the consummation of an initial business combination,
the compensation committee will only be responsible for the review and recommendation of any compensation arrangements to be entered
into in connection with such initial business combination.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Code of Ethics</P>

<P STYLE="font: bold 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">Upon consummation of this offering, we
will adopt a code of ethics that applies to all of our executive officers, directors and employees. The code of ethics codifies
the business and ethical principles that govern all aspects of our business.</P>

<P STYLE="font: bold 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">&nbsp;</P>

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Conflicts of Interest</P>

<P STYLE="font: bold 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">Potential investors should be aware of
the following potential conflicts of interest:</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">None
                                         of our officers and directors is required to commit their full time to our affairs and,
                                         accordingly, they may have conflicts of interest in allocating their time among various
                                         business activities.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">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 our company as well as the other entities with which they are affiliated. Our management
                                         has pre-existing fiduciary duties and contractual obligations and may have conflicts
                                         of interest in determining to which entity a particular business opportunity should be
                                         presented.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">Our
                                         officers and directors may in the future become affiliated with entities, including other
                                         blank check companies, engaged in business activities similar to those intended to be
                                         conducted by our company.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</FONT></TD><TD STYLE="text-align: justify">The
                                         insider shares owned by our officers and directors will be released from escrow only
                                         if a business combination is successfully completed and subject to certain other limitations.
                                         Additionally, our officers and directors will not receive distributions from the trust
                                         account with respect to any of their insider shares if we do not complete a business
                                         combination. Furthermore, our initial shareholders have agreed that the private units
                                         will not be sold or transferred by them until after we have completed our initial business
                                         combination. In addition, our officers and directors may loan funds to us after this
                                         offering and may be owed reimbursement for expenses incurred in connection with certain
                                         activities on our behalf which would only be repaid if we complete an initial business
                                         combination. For the foregoing reasons, the personal and financial interests of our directors
                                         and executive officers may influence their motivation in identifying and selecting a
                                         target business, completing a business combination in a timely manner and securing the
                                         release of their shares.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under Cayman Islands law, directors owe
the following fiduciary duties:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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: 0.5in">(i)</TD><TD>duty to act in good faith in what the director believes
                                         to be in the best interests of the company as a whole;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in">(ii)</TD><TD>duty to exercise powers for the purposes for which
                                         those powers were conferred and not for a collateral purpose;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in">(iii)</TD><TD>directors should not properly fetter the exercise
                                         of future discretion;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in">(iv)</TD><TD>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</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in">(v)</TD><TD>duty to exercise independent judgment.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition to the above, directors also
owe a duty of care which is not fiduciary in nature. This duty has been defined as a requirement to act as a reasonably diligent
person having both the general knowledge, skill and experience that may reasonably be expected of a person 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; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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, in some instances what would otherwise be a breach of this duty can be forgiven and/or
authorized in advance by the shareholders provided that there is full disclosure by the directors. This can be done by way of
permission granted in the memorandum and articles of association or alternatively by shareholder approval at general meetings.</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">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. In addition, conflicts of interest may arise when our board evaluates a particular
business opportunity with respect to the above-listed criteria. We cannot assure you that any of the above mentioned conflicts
will be resolved in our favor. Furthermore, most of our officers and directors have pre-existing fiduciary obligations to other
businesses of which they are officers or directors. To the extent they identify business opportunities which may be suitable for
the entities to which they owe pre-existing fiduciary obligations, our officers and directors will honor those fiduciary obligations.
Accordingly, it is possible they may not present opportunities to us that otherwise may be attractive to us unless the entities
to which they owe pre-existing fiduciary obligations and any successors to such entities have declined to accept such opportunities.</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>

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<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">In order to minimize potential conflicts
of interest which may arise from multiple corporate affiliations, each of our officers and directors has contractually agreed,
pursuant to a written agreement with us, until the earliest of a business combination, our liquidation or such time as he ceases
to be an officer or director, to present to our company for our consideration, prior to presentation to any other entity, any
suitable business opportunity which may reasonably be required to be presented to us, subject to any pre-existing fiduciary or
contractual obligations he might have.</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">The following table summarizes the other
relevant pre-existing fiduciary or contractual obligations of our officers and directors:</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: bottom">
    <TD STYLE="width: 30%; border-bottom: Black 1pt solid"><B>Name of Affiliated Company</B></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 23%; border-bottom: Black 1pt solid"><B>Name of Individual</B></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 43%; border-bottom: Black 1pt solid"><B>Priority/Preference relative to CM Seven </B><BR>
    <B>Star Acquisition Corporation</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>CM Asset Management (Hongkong) Company Limited</TD>
    <TD>&nbsp;</TD>
    <TD>Bing Lin, Alan Chow, Kathy Li and Patrick Ho</TD>
    <TD>&nbsp;</TD>
    <TD>CM Asset Management will have priority over us; however, as CM Asset Management (Hongkong) Company Limited does not generally
    seek investments in excess of $50 million, we anticipate being given the opportunity to review all potential targets of greater
    than that size that our management team becomes aware of.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Shareholder Value Fund (our sponsor)</TD>
    <TD>&nbsp;</TD>
    <TD>Bing Lin, Alan Chow, Kathy Li and Patrick Ho</TD>
    <TD>&nbsp;</TD>
    <TD>Shareholder Value Fund will have priority over us; however, as Shareholder Value Fund does not generally seek investments
    in excess of $50 million, we anticipate being given the opportunity to review all potential targets of greater than that size
    that our management team becomes aware of.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%"><FONT STYLE="font-size: 10pt">CEC Capital</FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 23%"><FONT STYLE="font-size: 10pt">Jiong Shao</FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 43%"><FONT STYLE="font-size: 10pt">CEC Capital will have priority over us</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">CLSA Limited</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Maryann Tseng</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">CLSA Limited will have priority over us</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">In connection with the vote required for
any business combination, all of our existing shareholders, including all of our officers and directors, have agreed to vote their
respective insider shares and private shares in favor of any proposed business combination. In addition, they have agreed to waive
their respective rights to participate in any liquidation distribution with respect to those ordinary shares acquired by them
prior to this offering. If they purchase ordinary shares in this offering or in the open market, however, they would be entitled
to participate in any liquidation distribution in respect of such shares but have agreed not to convert such shares (or sell their
shares in any tender offer) in connection with the consummation of our initial business combination or an amendment to our amended
and restated memorandum and articles of association relating to pre-business combination activity.</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">All ongoing and future transactions between
us and any of our officers and directors or their respective affiliates will be on terms believed by us to be no less favorable
to us than are available from unaffiliated third parties. Such transactions will require prior approval by our audit committee
and a majority of our uninterested &ldquo;independent&rdquo; directors, or the members of our board who do not have an interest
in the transaction, in either case who had access, at our expense, to our attorneys or independent legal counsel. We will not
enter into any such transaction unless our audit committee and a majority of our disinterested &ldquo;independent&rdquo; directors
determine that the terms of such transaction are no less favorable to us than those that would be available to us with respect
to such a transaction from unaffiliated third parties.</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>

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<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">To further minimize conflicts of interest,
we have agreed not to consummate our initial business combination with an entity that is affiliated with any of our officers,
directors or initial shareholders, unless we have obtained (i) an opinion from an independent investment banking firm that the
business combination is fair to our unaffiliated shareholders from a financial point of view and (ii) the approval of a majority
of our disinterested and independent directors (if we have any at that time). Furthermore, in no event will any of our initial
shareholders, officers, directors, special advisors or their respective affiliates be paid any finder&rsquo;s fee, consulting
fee or other similar compensation prior to, or for any services they render in order to effectuate, the consummation 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: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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


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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a012_v1"></A>PRINCIPAL SHAREHOLDERS</P>

<P STYLE="font: bold 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">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 ordinary shares included in the units offered by this prospectus (assuming none of the individuals listed purchase units
in this offering), by:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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">&#9679;</TD><TD STYLE="text-align: justify">each person known
                                         by us to be the beneficial owner of more than 5% of our issued and outstanding ordinary
                                         shares;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">each of our officers
                                         and directors; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">all of our officers
                                         and directors as a group.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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 of beneficial ownership of any ordinary shares issuable upon exercise of
the warrants or conversion of rights as the warrants are not exercisable within 60 days of the date of this prospectus and the
rights are not convertible within sixty days of the date of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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>&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Prior to Offering</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>After Offering<SUP>(2)</SUP></B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="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-size: 10pt"><B>Amount and Nature
    of Beneficial Ownership</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-size: 10pt"><B>Approximate Percentage
    of Outstanding Ordinary Shares</B></FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Amount and Nature
    of Beneficial Ownership</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-size: 10pt"><B>Approximate Percentage
    of Outstanding Ordinary Shares</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="width: 48%"><FONT STYLE="font-size: 10pt">Shareholder Value Fund (3)</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right">4,425,000</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">85.5</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: right">4,225,000</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">18.4</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Bing Lin (4)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">4,525,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">87.4</TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">4,325,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">18.8</TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Stephen N. Cannon</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">200,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">3.7</TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">200,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">*</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Alan Chow</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">100,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1.9</TD>
    <TD><FONT STYLE="font-size: 10pt">%&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">100,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Kathy Li</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">100,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1.9</TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">100,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Patrick Ho</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">100,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">1.9</TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">100,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Jiong Shao</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">50,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">9.7</TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">50,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Michele Smith</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">50,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">9.7</TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">50,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">Maryann Tseng</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">50,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">9.7</TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">50,000</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">*</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 9pt; text-indent: -9pt"><FONT STYLE="font-size: 10pt">All directors and executive officers as a group
    (eight individuals)(4)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">5,175,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">100.00</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">4,975,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">21.7</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">%</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">&nbsp;</P>

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

<!-- Field: Rule-Page --><DIV ALIGN="LEFT"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 20%">&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"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in; text-align: justify">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less
than 1%.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless
otherwise indicated, the business address of each of the individuals is c/o CM Seven Star Acquisition Corporation, Suite 1003-1004,
10/F, ICBC Tower, Three Garden Road, Central, Hong Kong.</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">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assumes
no exercise of the over-allotment option and, therefore, an aggregate of 675,000 ordinary shares held by our initial shareholders
are forfeited.</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">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bing
Lin, a director of Shareholder Value Fund, has voting and dispositive power over the shares owned by Shareholder Value Fund.</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">(4)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amount
of beneficial ownership includes shares beneficially owned by Shareholder Value Fund, over which Bing Lin has voting
and dispositive power.</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">Immediately after this offering, our initial
shareholders will beneficially own approximately 20.0% of the then issued and outstanding ordinary shares (assuming none of them
purchase any units offered by this prospectus). None of our initial shareholders, officers and directors has indicated to us that
he intends to purchase securities in this offering. Because of the ownership block held by our initial shareholders, such individuals
may be able to effectively exercise control over all matters requiring approval by our shareholders, including the election of
directors and approval of significant corporate transactions other than approval 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"></P>

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    <!-- 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; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If the underwriters do not exercise all
or a portion of the over-allotment option, our initial shareholders will have up to an aggregate of 675,000 ordinary shares subject
to forfeiture as required by Cayman Islands law. Our initial shareholders will be required to have redeemed by us only a number
of shares necessary to maintain their collective 20% ownership interest in our ordinary shares (excluding the private units) after
giving effect to the offering and the exercise, if any, of the underwriters&rsquo; over-allotment option.</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">All of the insider shares issued and outstanding
prior to the date of this prospectus will be placed in escrow with Continental Stock Transfer &amp; Trust Company, as escrow agent,
until (1) with respect to 50% of the insider shares, the earlier of one year after the date of the consummation of our initial
business combination and the date on which the closing price of our ordinary shares equals or exceeds $12.50 per share (as adjusted
for share splits, share capitalizations, reorganizations and recapitalizations) for any 20 trading days within any 30-trading
day period commencing after our initial business combination and (2) with respect to the remaining 50% of the insider shares,
one year after the date of the consummation of our initial business combination, or earlier, in either case, if, subsequent to
our initial business combination, we consummate a liquidation, merger, share exchange or other similar transaction which results
in all of our shareholders having the right to exchange their shares for cash, securities or other property. Up to 675,000 of
the insider shares may also be released from escrow earlier than this date for forfeiture and cancellation if the over-allotment
option is not exercised in full as described above.</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">During the escrow period, the holders
of these shares will not be able to sell or transfer their securities except (i) for transfers to our officers, directors or their
respective affiliates (including for transfers to an entity&rsquo;s members upon its liquidation), (ii) to relatives and trusts
for estate planning purposes, (iii) by virtue of the laws of descent and distribution upon death, (iv) pursuant to a qualified
domestic relations order, (v) by certain pledges to secure obligations incurred in connection with purchases of our securities,
(vi) by private sales made at or prior to the consummation of a business combination at prices no greater than the price at which
the shares were originally purchased or (vii) to us for no value for cancellation in connection with the consummation of our initial
business combination, in each case (except for clause (vii)) where the transferee agrees to the terms of the escrow agreement,
but will retain all other rights as our shareholders, including, without limitation, the right to vote their ordinary shares and
the right to receive cash dividends, if declared. If dividends are declared and payable in ordinary shares, such dividends will
also be placed in escrow. If we are unable to effect a business combination and liquidate the trust account, none of our initial
shareholders will receive any portion of the liquidation proceeds with respect to their insider shares.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Shareholder Value Fund, our sponsor, has
committed to purchase from us an aggregate of 475,000 private units at $10.00 per private unit (for a total purchase price of
$4,750,000). These purchases will take place on a private placement basis simultaneously with the consummation of this offering.
All of the proceeds we receive from these purchases will be placed in the trust account described below. Our sponsor has also
agreed that if the over-allotment option is exercised by the underwriters, it will purchase from us at a price of $10.00 per private
unit an additional number of private units (up to a maximum of 54,000 private units) <I>pro rata</I> with the amount of the over-allotment
option exercised so that at least $10.00 per share sold to the public in this offering is held in trust regardless of whether
the over-allotment option is exercised in full or part. These additional private units will be purchased in a private placement
that will occur simultaneously with the purchase of units resulting from the exercise of the over-allotment option. The private
units are identical to the units sold in this offering except the private warrants will be non-redeemable and may be exercised
on a cashless basis, in each case so long as they continue to be held by the initial purchasers or their permitted transferees.
Additionally, because the private units will be issued in a private transaction, the holders of the private warrants and their
transferees will be allowed to exercise such warrants for cash even if a registration statement covering the ordinary shares issuable
upon exercise of such warrants is not effective and receive unregistered ordinary shares. Furthermore, our sponsor has agreed
(A) to vote the ordinary shares underlying the private units, or &ldquo;private shares,&rdquo; in favor of any proposed business
combination, (B) not to propose, or vote in favor of, an amendment to our amended and restated memorandum and articles of association
that would stop our public shareholders from converting or selling their shares to us in connection with a business combination
or affect the substance or timing of our obligation to redeem 100% of our public shares if we do not complete a business combination
within 15 months (or 18 months if we have extended the period of time as described in this prospectus) from the closing of this
offering unless we provide dissenting public shareholders with the opportunity to convert their public shares in connection with
any such vote, (C) not to convert any private shares for cash from the trust account in connection with a shareholder vote to
approve our proposed initial business combination or a vote to amend the provisions of our amended and restated memorandum and
articles of association relating to shareholders&rsquo; rights or pre-business combination activity and (D) that the private shares
shall not participate in any liquidating distribution upon winding up if a business combination is not consummated. The purchasers
of the private units have also agreed not to transfer, assign or sell any of the private units or underlying securities (except
to the same permitted transferees as the insider shares) until the completion 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"></P>

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<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">In order to meet our working capital
needs following the consummation of this offering, our initial shareholders, officers and directors or their affiliates may, but
are not obligated to, loan us funds, from time to time or at any time, in whatever amount they deem reasonable in their sole discretion.
Each loan would be evidenced by a promissory note. The notes would either be paid upon consummation of our initial business combination,
without interest, or, at the lender&rsquo;s discretion, up to $500,000 of the notes may be converted upon consummation of our
business combination into private units at a price of $10.00 per unit (which, for example, would result in the holders being issued
units to acquire 55,000 ordinary shares (which includes 5,000 shares issuable upon conversion of rights) and warrants to purchase
25,000 ordinary shares if $500,000 of notes were so converted). Our shareholders have approved the issuance of the units and underlying
securities upon conversion of such notes, to the extent the holder wishes to so convert them at the time of the consummation of
our initial business combination. If we do not complete a business combination, the loans will not be repaid.</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">Shareholder Value Fund is our &ldquo;promoter,&rdquo;
as that term is defined under the Federal securities laws.</P>

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


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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a013_v1"></A>CERTAIN TRANSACTIONS</P>

<P STYLE="font: bold 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"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In July 2017, we issued an aggregate of
4,312,500 ordinary shares to certain of our initial shareholders for $25,000 in cash, at a purchase price of $0.006 share. On
October 25, 2017, an additional 862,500 shares of the Company were issued to the Initial Shareholders for an aggregate amount
of $6,038 in order to maintain our initial shareholder&rsquo;s ownership percentage at 20% of the share sold in this
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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If the underwriters do not exercise all
or a portion of their over-allotment option, our initial shareholders have agreed that up to an aggregate of 675,000 ordinary
shares in proportion to the portion of the over-allotment option that was not exercised are subject to forfeiture and would be
immediately cancelled.</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">If the underwriters determine the size
of the offering should be increased (including pursuant to Rule 462(b) under the Securities Act) or decreased, a share capitalizations
or a contribution back to capital, as applicable, would be effectuated in order to maintain our initial shareholder&rsquo;s ownership
at a percentage of the number of shares to be sold in this offering. On October 25, 2017, we sold 862,500 shares in conjunction with an increase in the size of this offering to
maintain that percentage.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Shareholder Value Fund, our sponsor, has
committed to purchase from us an aggregate of 475,000 private units at $10.00 per private unit (for a total purchase price of
$4,750,000). These purchases will take place on a private placement basis simultaneously with the consummation of this offering.
All of the proceeds we receive from these purchases will be placed in the trust account described below. Our sponsor has also
agreed that if the over-allotment option is exercised by the underwriters, it will purchase from us at a price of $10.00 per private
unit an additional number of private units (up to a maximum of 54,000 private units) <I>pro rata</I> with the amount of the over-allotment
option exercised so that at least $10.00 per share sold to the public in this offering is held in trust regardless of whether
the over-allotment option is exercised in full or part. These additional private units will be purchased in a private placement
that will occur simultaneously with the purchase of units resulting from the exercise of the over-allotment option. The purchase
price for the private units will be delivered to Loeb &amp; Loeb LLP, our counsel in connection with this offering, who will also
be acting solely as escrow agent in connection with the private sale of such units, at least 24 hours prior to the date of this
prospectus to hold in a non-interest bearing account until we consummate this offering. Loeb &amp; Loeb LLP will deposit the purchase
price into the trust account simultaneously with the consummation of the offering. The private units are identical to the units
sold in this offering except as otherwise described in this prospectus. The purchasers have agreed not to transfer, assign or
sell any of the private units or the underlying securities (except to the same permitted transferees as the insider shares) until
the completion 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">In order to meet our working capital
needs following the consummation of this offering, our initial shareholders, officers and directors and their respective affiliates
may, but are not obligated to, loan us funds, from time to time or at any time, in whatever amount they deem reasonable in their
sole discretion. Each loan would be evidenced by a promissory note. The notes would either be paid upon consummation of our initial
business combination, without interest, or, at the lender&rsquo;s discretion, up to $500,000 of the notes may be converted upon
consummation of our business combination into private units at a price of $10.00 per unit (which, for example, would result in
the holders being issued units to acquire 55,000 ordinary shares <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(which
includes 5,000 shares issuable upon conversion of rights) and warrants to purchase 25,000 ordinary shares if $500,000 of notes
were so converted). Our shareholders have approved the issuance of the units and underlying securities upon conversion of such
notes, to the extent the holder wishes to so convert them at the time of the consummation of our initial business combination.
If we do not complete a business combination, the loans would not be repaid.</FONT></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">The holders of our insider shares issued
and outstanding on the date of this prospectus, as well as the holders of the private units (and all underlying securities) and
any securities our initial shareholders, officers, directors or their affiliates may be issued in payment of working capital loans
made to us, will be entitled to registration rights pursuant to an agreement to be signed prior to or on the effective date of
this offering. The holders of a majority of these securities are entitled to make up to two demands that we register such securities.
The holders of the majority of the insider shares can elect to exercise these registration rights at any time commencing three
months prior to the date on which these ordinary shares are to be released from escrow. The holders of a majority of the private
units or securities issued in payment of working capital loans made to us can elect to exercise these registration rights at any
time after we consummate a business combination. In addition, the holders have certain &ldquo;piggy-back&rdquo; registration rights
with respect to registration statements filed subsequent to our consummation of a business combination. 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; text-align: justify">&nbsp;</P>

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

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<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">As of July 17, 2017, our sponsor had loaned
to us an aggregate of $300,000 to be used to pay formation expenses and a portion of the expenses of this offering. On September
1, 2017, our sponsor loaned to us an additional $200,000. The loans are payable without interest on the date on which we consummate
our initial public offering. We intend to repay this loan from the proceeds of this offering not being placed in the trust account.
If we determine not to proceed with the offering, such amounts would not be repaid.</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">We will reimburse our officers and directors
for any reasonable out-of-pocket business expenses incurred by them in connection with certain activities on our behalf such as
identifying and investigating possible target businesses and business combinations. There is no limit on the amount of out-of-pocket
expenses reimbursable by us; provided, however, that to the extent such expenses exceed the available proceeds not deposited in
the trust account and the interest income earned on the amounts held in the trust account, such expenses would not be reimbursed
by us unless we consummate an initial business combination. Our audit committee will review and approve all reimbursements and
payments made to any initial shareholder or member of our management team, or our or their respective affiliates, and any reimbursements
and payments made to members of our audit committee will be reviewed and approved by our Board of Directors, with any interested
director abstaining from such review and approval.</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">No compensation or fees of any kind, including
finder&rsquo;s fees, consulting fees or other similar compensation, will be paid to any of our initial shareholders, officers
or directors who owned our ordinary shares prior to this offering, or to any of their respective affiliates, prior to or with
respect to the business combination (regardless of the type of transaction that it is).</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">All ongoing and future transactions between
us and any of our officers and directors or their respective affiliates will be on terms believed by us to be no less favorable
to us than are available from unaffiliated third parties. Such transactions, including the payment of any compensation, will require
prior approval by a majority of our uninterested &ldquo;independent&rdquo; directors (to the extent we have any) or the members
of our board who do not have an interest in the transaction, in either case who had access, at our expense, to our attorneys or
independent legal counsel. We will not enter into any such transaction unless our disinterested &ldquo;independent&rdquo; directors
(or, if there are no &ldquo;independent&rdquo; directors, our disinterested directors) determine that the terms of such transaction
are no less favorable to us than those that would be available to us with respect to such a transaction from unaffiliated third
parties.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Related Party Policy</P>

<P STYLE="font: bold 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">Our Code of Ethics, which we will adopt
upon consummation of this offering, will require us to avoid, wherever possible, all related party transactions that could result
in actual or potential conflicts of interests, except under guidelines approved by the board of directors (or the audit committee).
Related-party transactions are defined as transactions in which (1) the aggregate amount involved will or may be expected to exceed
$120,000 in any calendar year, (2) we or any of our subsidiaries is a participant, and (3) any (a) executive officer, director
or nominee for election as a director, (b) greater than 5% beneficial owner of our ordinary shares, or (c) immediate family member,
of the persons referred to in clauses (a) and (b), has or will have a direct or indirect material interest (other than solely
as a result of being a director or a less than 10% beneficial owner of another entity). A conflict of interest situation can arise
when a person takes actions or has interests that may make it difficult to perform his or her work objectively and effectively.
Conflicts of interest may also arise if a person, or a member of his or her family, receives improper personal benefits as a result
of his or her position.</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">We also require each of our directors
and executive officers to annually 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; text-align: justify">&nbsp;</P>

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

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<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">Our audit committee, pursuant to its written
charter, will be responsible for reviewing and approving related-party transactions to the extent we enter into such transactions.
All ongoing and future transactions between us and any of our officers and directors or their respective affiliates will be on
terms believed by us to be no less favorable to us than are available from unaffiliated third parties. Such transactions will
require prior approval by our audit committee and a majority of our uninterested &ldquo;independent&rdquo; directors, or the members
of our board who do not have an interest in the transaction, in either case who had access, at our expense, to our attorneys or
independent legal counsel. We will not enter into any such transaction unless our audit committee and a majority of our disinterested
&ldquo;independent&rdquo; directors determine that the terms of such transaction are no less favorable to us than those that would
be available to us with respect to such a transaction from unaffiliated third parties. Additionally, we 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; text-align: justify">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To further minimize potential conflicts
of interest, we have agreed not to consummate a business combination with an entity which is affiliated with any of our initial
shareholders unless we obtain an opinion from an independent investment banking firm that the business combination is fair to
our unaffiliated shareholders from a financial point of view. Furthermore, in no event will any of our existing officers, directors
or initial shareholders, or any entity with which they are affiliated, be paid any finder&rsquo;s fee, consulting fee or other
compensation prior to, or for any services they render in order to effectuate, the consummation of a business combination.</P>

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


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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a014_v1"></A>DESCRIPTION
OF SECURITIES</P>

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

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

<P STYLE="font: bold 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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are currently authorized to issue 200,000,000
ordinary shares, par value $0.0001, and 2,000,000 preferred shares, par value $0.0001. As of the date of this prospectus, 5,175,000
ordinary shares are issued and outstanding, held by our initial shareholders. No preferred shares are issued or outstanding.</P>

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

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

<P STYLE="font: bold 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 unit consists of one ordinary
share, one-half of a redeemable warrant and one right. Each whole redeemable warrant entitles the holder thereof to purchase one
ordinary share. Pursuant to the warrant agreement, a warrantholder may exercise its warrants only for a whole number of shares.
As a result, you must acquire two units to own a whole warrant exercisable at a price of $11.50 per full share, subject to adjustment
as described in this prospectus. For example, if an investor holds one unit, the investor will not receive a warrant on separation
of the unit. If an investor holds two units, such investor will receive one warrant upon separation of the units. Each right entitles
the holder thereof to receive one-tenth (1/10) of an ordinary share upon consummation of our initial business combination. In
addition, 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 Cayman Islands Law. As
a result, you must hold rights in multiples of 10 in order to receive shares for all of your rights upon closing of a business
combination.</P>



<P STYLE="font: bold 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">The ordinary shares, warrants and rights
will begin to trade separately on the 90<SUP>th</SUP> day after the date of this prospectus unless EarlyBirdCapital determines
that an earlier date is acceptable (based upon, among other things, its assessment of the relative strengths of the securities
markets and small capitalization companies in general, and the trading pattern of, and demand for, our securities in particular).
In no event will EarlyBirdCapital allow separate trading of the ordinary shares, warrants and rights until we file an audited
balance sheet reflecting our receipt of the gross proceeds of this 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">We will file a Current Report on Form
8-K which includes an audited balance sheet promptly upon the consummation of this offering. The audited balance sheet will reflect
proceeds we receive from the exercise of the over-allotment option, if the over-allotment option is exercised on the date of this
prospectus. If the over-allotment option is exercised after the date of this prospectus, we will file an amendment to the Form
8-K, or a new Form 8-K, to provide updated financial information to reflect the exercise of the over-allotment option. We will
also include in this Form 8-K, an amendment thereto, or in a subsequent Form 8-K information indicating when separate trading
of the ordinary shares, warrants and rights has commenced.</P>

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

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

<P STYLE="font: bold 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">Our shareholders of record are entitled
to one vote for each share held on all matters to be voted on by shareholders. In connection with any vote held to approve our
initial business combination, all of our initial shareholders, as well as all of our officers and directors, have agreed to vote
their respective ordinary shares owned by them immediately prior to this offering and any shares purchased in this offering or
following this offering in the open market in favor of the proposed 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">We will proceed with the business combination
only if we have net tangible assets of at least $5,000,001 upon consummation of such business combination and a majority of the
ordinary shares voted are voted in favor of the business combination. At least five days&rsquo; notice must be given for each
general meeting (although we will provide whatever minimum number of days are required under Federal securities laws). Shareholders
may vote at meetings in person or by proxy.</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">The members of our Board of Directors
serve until the next annual general meeting. There is no cumulative voting with respect to the election of directors, with the
result that the holders of more than 50% of the shares eligible to vote for the election of directors can elect all of the directors.</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">Pursuant to our amended and restated
memorandum and articles of association, if we do not consummate a business combination by 15 months from the consummation of this
offering (or 18 months if we have extended the period of time as described in this prospectus), it will trigger our automatic
winding up, dissolution and liquidation. Our initial shareholders have agreed to waive their rights to share in any distribution
from the trust account with respect to their insider shares upon our winding up, dissolution and liquidation.</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>

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<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">Our shareholders have no conversion, preemptive
or other subscription rights and there are no sinking fund or redemption provisions applicable to the ordinary shares, except
that public shareholders have the right to have their public shares converted to cash equal to their <I>pro rata</I> share of
the trust account if they vote on the proposed business combination and the business combination is completed. Public shareholders
who convert their public shares into their portion of the trust account still have the right to exercise the redeemable warrants
that they received as part of the units.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Register of Members</P>

<P STYLE="font: bold 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">Under Cayman Islands law, 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; text-align: justify">&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: 0.5in">(a)</TD><TD STYLE="text-align: justify">the names and addresses
                                         of the members, a statement of the shares held by each member, and of the amount paid
                                         or agreed to be considered as paid, on the shares of each member;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in">(b)</TD><TD STYLE="text-align: justify">the date on which the name
                                         of any person was entered on the register as a member; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in">(c)</TD><TD STYLE="text-align: justify">the date on which any person
                                         ceased to be a member.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under Cayman 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 Cayman 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.</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">However, there are certain limited circumstances
where an application may be made to a Cayman Islands court for a determination on whether the register of members reflects the
correct legal position. Further, the Cayman 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 Cayman Islands court.</P>

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

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

<P STYLE="font: bold 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">Our amended and restated memorandum and
articles of association authorizes the issuance of 2,000,000 preferred shares with such designation, rights and preferences as
may be determined from time to time by our board of directors. No preferred shares are being issued or registered in this offering.
Accordingly, our board of directors is empowered, without shareholder approval, to issue preferred shares with dividend, liquidation,
redemption, voting or other rights which could adversely affect the voting power or other rights of the holders of ordinary shares.
However, the underwriting agreement prohibits us, prior to a business combination, from issuing preferred shares which participate
in any manner in the proceeds of the trust account, or which votes as a class with the ordinary shares on a business combination.
We may issue some or all of the preferred shares to effect a business combination. In addition, the preferred shares could be
utilized as a method of discouraging, delaying or preventing a change in control of us. Although we do not currently intend to
issue any preferred shares, we cannot assure you that we will not do so in the future.</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>

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

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

<P STYLE="font: bold 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">No warrants are currently outstanding.
Each whole redeemable warrant entitles the registered holder to purchase one ordinary share at a price of $11.50 per full share,
subject to adjustment as discussed below, at any time commencing on the later of the completion of an initial business combination
and 12 months from the date of this prospectus. Pursuant to the warrant agreement, a warrantholder may exercise its warrants only
for a whole number of shares. As a result, you must acquire two units to own a whole warrant exercisable at a price of $11.50
per full share, subject to adjustment as described in this prospectus. However, except as set forth below, no warrants will be
exercisable for cash unless we have an effective and current registration statement covering the ordinary shares issuable upon
exercise of the warrants and a current prospectus relating to such ordinary shares. Notwithstanding the foregoing, if a registration
statement covering the ordinary shares issuable upon exercise of the warrants is not effective within 90 days from the consummation
of our initial business combination, warrant holders may, until such time as there is an effective registration statement and
during any period when we shall have failed to maintain an effective registration statement, exercise warrants on a cashless basis
pursuant to the exemption from registration provided by Section 3(a)(9) of the Securities Act provided that such exemption is
available. If an exemption from registration is not available, holders will not be able to exercise their warrants on a cashless
basis. The warrants will expire five years from the consummation of our initial business combination at 5:00 p.m., New York City
time.</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">We may call the warrants for redemption
(excluding the private warrants but including any outstanding warrants issued upon exercise of the unit purchase option issued
to EarlyBirdCapital and its designees), in whole and not in part, at a price of $.01 per warrant:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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">&#9679;</TD><TD STYLE="text-align: justify">at any time while
                                         the warrants are exercisable,</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">upon not less than
                                         30 days&rsquo; prior written notice of redemption to each warrant holder,</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">if, and only if, the
                                         reported last sale price of the ordinary shares equals or exceeds $18.00 per share, for
                                         any 20 trading days within a 30 trading day period ending on the third business day prior
                                         to the notice of redemption to warrant holders, and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">if, and only if, there
                                         is a current registration statement in effect with respect to the ordinary shares underlying
                                         such warrants at the time of redemption and for the entire 30-day trading period referred
                                         to above and continuing each day thereafter until the date of redemption.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The right to exercise will be forfeited
unless the warrants are exercised prior to the date specified in the notice of redemption. On and after the redemption date, a
record holder of a warrant will have no further rights except to receive the redemption price for such holder&rsquo;s warrant
upon surrender of such warrant.</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">The redemption criteria for our warrants
have been established at a price which is intended to provide warrant holders a reasonable premium to the initial exercise price
and provide a sufficient differential between the then-prevailing share price and the warrant exercise price so that if the share
price declines as a result of our redemption call, the redemption will not cause the share price to drop below the exercise price
of the warrants.</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">If we call the warrants for redemption
as described above, our management will have the option to require all holders that wish to exercise warrants to do so on a &ldquo;cashless
basis.&rdquo; In such event, each holder would pay the exercise price by surrendering the whole warrants for that number of ordinary
shares equal to the quotient obtained by dividing (x) the product of the number of ordinary shares underlying the warrants, multiplied
by the difference between the exercise price of the warrants and the &ldquo;fair market value&rdquo; (defined below) by (y) the
fair market value. The &ldquo;fair market value&rdquo; shall mean the volume weighted average price of the ordinary shares for
the 20 trading days ending on the third trading day prior to the date on which the notice of redemption is sent to the holders
of warrants. Whether we will exercise our option to require all holders to exercise their warrants on a &ldquo;cashless basis&rdquo;
will depend on a variety of factors including the price of our ordinary shares at the time the warrants are called for redemption,
our cash needs at such time and concerns regarding dilutive share issuances.</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">The warrants will be issued in registered
form under a warrant agreement between Continental Stock Transfer &amp; Trust Company, as warrant agent, and us. The warrant agreement
provides that the terms of the warrants may be amended without the consent of any holder to cure any ambiguity or correct any
defective provision, but requires the approval, by written consent or vote, of the holders of a majority of the then outstanding
warrants 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; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The exercise price and number of ordinary
shares issuable on exercise of the warrants may be adjusted in certain circumstances including in the event of a share capitalizations,
extraordinary dividend or our recapitalization, reorganization, merger or consolidation. However, the warrants will not be adjusted
for issuances of ordinary shares at a price below their respective exercise prices.</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>

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<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">The warrants may be exercised upon surrender
of the warrant certificate on or prior to the expiration date at the offices of the warrant agent, with the exercise form on the
reverse side of the warrant certificate completed and executed as indicated, accompanied by full payment of the exercise price,
by certified or official bank check payable to us, for the number of warrants being exercised. The warrant holders do not have
the rights or privileges of holders of ordinary shares and any voting rights until they exercise their warrants and receive ordinary
shares. After the issuance of ordinary shares upon exercise of the warrants, each holder will be entitled to one vote for each
share held of record on all matters to be voted on by shareholders.</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">Except as described above, no warrants
will be exercisable and we will not be obligated to issue ordinary shares unless at the time a holder seeks to exercise such warrant,
a prospectus relating to the ordinary shares issuable upon exercise of the warrants is current and the ordinary shares have been
registered or qualified or deemed to be exempt under the securities laws of the state of residence of the holder of the warrants.
Under the terms of the warrant agreement, we have agreed to use our best efforts to meet these conditions and to maintain a current
prospectus relating to the ordinary shares issuable upon exercise of the warrants until the expiration of the warrants. However,
we cannot assure you that we will be able to do so and, if we do not maintain a current prospectus relating to the ordinary shares
issuable upon exercise of the warrants, holders will be unable to exercise their warrants and we will not be required to settle
any such warrant exercise. If the prospectus relating to the ordinary shares issuable upon the exercise of the warrants is not
current or if the ordinary shares is not qualified or exempt from qualification in the jurisdictions in which the holders of the
warrants reside, we will not be required to net cash settle or cash settle the warrant exercise, the warrants may have no value,
the market for the warrants may be limited and the warrants may expire worthless.</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">Warrant holders may elect to be subject
to a restriction on the exercise of their warrants such that an electing warrant holder (and his, her or its affiliates) would
not be able to exercise their warrants to the extent that, after giving effect to such exercise, such holder (and his, her or
its affiliates) would beneficially own in excess of 9.8% of the ordinary shares issued and outstanding. Notwithstanding the foregoing,
any person who acquires a warrant with the purpose or effect of changing or influencing the control of our company, or in connection
with or as a participant in any transaction having such purpose or effect, immediately upon such acquisition will be deemed to
be the beneficial owner of the underlying ordinary shares and not be able to take advantage of this provision.</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">No fractional shares will be issued upon
exercise of the warrants. If, upon exercise of the warrants, a holder would be entitled to receive a fractional interest in a
share (as a result of a subsequent share capitalizations payable in ordinary shares, or by a split up of the ordinary shares or
other similar event), we will, upon exercise, round up or down to the nearest whole number the number of ordinary shares to be
issued to the warrant holder.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Contractual Arrangements with
respect to the Certain Warrants</P>

<P STYLE="font: italic bold 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">We have agreed that so long as the private
warrants are still held by the initial purchasers or their affiliates, we will not redeem such warrants and we will allow the
holders to exercise such warrants on a cashless basis (even if a registration statement covering the ordinary shares issuable
upon exercise of such warrants is not effective). However, once any of the foregoing warrants are transferred from the initial
purchasers or their affiliates, these arrangements will no longer apply. Additionally, the representative of the underwriters
has agreed that it will not be permitted to exercise any warrants underlying the purchase option to be issued to it and/or its
designees upon consummation of this offering after the five year anniversary of the effective date of the registration statement
of which this prospectus forms a part. Furthermore, because the private warrants will be issued in a private transaction, the
holders and their transferees will be allowed to exercise the private warrants for cash even if a registration statement covering
the ordinary shares issuable upon exercise of such warrants is not effective and receive unregistered ordinary shares.</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Rights</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: justify">Except in cases where we are not the
surviving company in a business combination, each holder of a right will automatically receive one-tenth (1/10) of an ordinary
share upon consummation of our initial business combination, even if the holder of a public right converted all ordinary shares
held by him, her or it in connection with the initial business combination or an amendment to our memorandum and articles of association
with respect to our pre-business combination activities. 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-tenth (1/10) of a share underlying each right upon consummation of the business combination. No additional
consideration will be required to be paid by a holder of rights in order to receive his, her or its additional ordinary shares
upon consummation of an initial business combination. The shares issuable upon exchange of the rights will be freely tradable
(except to the extent held by affiliates of ours). 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 ordinary shares will receive in the transaction on an as-converted into ordinary shares basis.</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">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 Cayman Islands Law. As a result, you must hold rights in multiples of
10 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. Additionally,
in no event will we be required to net cash settle the rights. Accordingly, the rights may expire worthless.</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">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Unit Purchase Option</P>

<P STYLE="font: bold 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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have agreed to sell to EarlyBirdCapital
an option for $100 to purchase up to a total of 900,000 units at $10.00 per unit. The units issuable upon exercise of this option
are identical to those offered by this prospectus. For a more complete description of the unit purchase option, see the section
below entitled &ldquo;Underwriting &mdash; Unit Purchase Option.&rdquo;</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>

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

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

<P STYLE="font: bold 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">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 dividends subsequent to a business combination
will be within the discretion of our then board of directors. It is the present intention of our board of directors to retain
all earnings, if any, for use in our business operations and, accordingly, our board does not anticipate declaring any dividends
in the foreseeable future.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our Transfer Agent, Warrant Agent
and Rights Agent</P>

<P STYLE="font: bold 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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The transfer agent for our ordinary
shares, warrant agent for our warrants, and rights agent for our rights is Continental Stock Transfer &amp; Trust Company, 17
Battery Place, New York, New York 10004.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Listing of our Securities</P>

<P STYLE="font: bold 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">There is presently no public market
for our units, ordinary shares, warrants or rights. We have applied to have the units, and the ordinary shares, warrants and rights
once they begin separate trading, listed on Nasdaq under the symbols &ldquo;CMSSU,&rdquo; &ldquo;CMSS,&rdquo; &ldquo;CMSSW,&rdquo;
and &ldquo;CMSSR,&rdquo; respectively. Although, after giving effect to this offering, we meet on a pro forma basis the minimum
initial listing standards of Nasdaq, which generally only requires that we meet certain requirements relating to shareholders&rsquo;
equity, market capitalization, aggregate market value of publicly held shares and distribution requirements, we cannot assure
you that our securities will continue to be listed on Nasdaq as we might not meet certain continued listing standards.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Certain Differences in Corporate
Law</P>

<P STYLE="font: bold 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">Cayman Islands companies are governed
by the Companies Law. The Companies Law is modeled on English Law but does not follow recent English Law statutory enactments,
and differs from laws applicable to United States corporations and their shareholders. Set forth below is a summary of the material
differences between the provisions of the Companies Law 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; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Mergers and Similar Arrangements. In certain
circumstances, the Companies Law allows for mergers or consolidations between two Cayman Islands companies, or between a Cayman
Islands company and a company incorporated in another jurisdiction (provided that is facilitated by the laws of that other jurisdiction).</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">Where the merger or consolidation is between
two Cayman Islands companies, the directors of each company must approve a written plan of merger or consolidation containing
certain prescribed information. That plan or merger or consolidation must then be authorized by either (a) a special resolution
(usually a majority of 66.6% in value) of the shareholders of each company; or (b) such other authorization, if any, as may be
specified in such constituent company&rsquo;s articles of association. No shareholder resolution is required for a merger between
a parent company (i.e., a company that owns at least 90% of the issued shares of each class in a subsidiary company) and its subsidiary
company. The consent of each holder of a fixed or floating security interest of a constituent company must be obtained, unless
the court waives such requirement. If the Cayman Islands Registrar of Companies is satisfied that the requirements of the Companies
Law (which includes certain other formalities) have been complied with, the Registrar of Companies will register the plan of merger
or consolidation.</P>

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

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

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<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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Where the merger or consolidation involves
a foreign company, the procedure is similar, save that with respect to the foreign company, the director of the Cayman Islands
company is required to make a declaration to the effect that, having made due enquiry, he is of the opinion that the requirements
set out below have been met: (i) that the merger or consolidation is permitted or not prohibited by the constitutional documents
of the foreign company and by the laws of the jurisdiction in which the foreign company is incorporated, and that those laws and
any requirements of those constitutional documents have been or will be complied with; (ii) that no petition or other similar
proceeding has been filed and remains outstanding or order made or resolution adopted to wind up or liquidate the foreign company
in any jurisdictions; (iii) that no receiver, trustee, administrator or other similar person has been appointed in any jurisdiction
and is acting in respect of the foreign company, its affairs or its property or any part thereof; (iv) that no scheme, order,
compromise or other similar arrangement has been entered into or made in any jurisdiction whereby the rights of creditors of the
foreign company are and continue to be suspended or restricted.</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">Where the surviving company is the Cayman
Islands company, the director of the Cayman Islands company is further required to make a declaration to the effect that, having
made due enquiry, he is of the opinion that the requirements set out below have been met: (i) that the foreign company is able
to pay its debts as they fall due and that the merger or consolidated is bona fide and not intended to defraud unsecured creditors
of the foreign company; (ii) that in respect of the transfer of any security interest granted by the foreign company to the surviving
or consolidated company (a) consent or approval to the transfer has been obtained, released or waived; (b) the transfer is permitted
by and has been approved in accordance with the constitutional documents of the foreign company; and (c) the laws of the jurisdiction
of the foreign company with respect to the transfer have been or will be complied with; (iii) that the foreign company will, upon
the merger or consolidation becoming effective, cease to be incorporated, registered or exist under the laws of the relevant foreign
jurisdiction; and (iv) that there is no other reason why it would be against the public interest to permit the merger or consolidation.</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">Where the above procedures are adopted,
the Companies Law provides for a right of dissenting shareholders to be paid a payment of the fair value of his shares upon their
dissenting to the merger or consolidation if they follow a prescribed procedure. In essence, that procedure is as follows (a)
the shareholder must give his written objection to the merger or consolidation to the constituent company before the vote on the
merger or consolidation, including a statement that the shareholder proposes to demand payment for his shares if the merger or
consolidation is authorized by the vote; (b) within 20 days following the date on which the merger or consolidation is approved
by the shareholders, the constituent company must give written notice to each shareholder who made a written objection; (c) a
shareholder must within 20 days following receipt of such notice from the constituent company, give the constituent company a
written notice of his intention to dissent including, among other details, a demand for payment of the fair value of his shares;
(d) within seven days following the date of the expiration of the period set out in paragraph (b) above or seven days following
the date on which the plan of merger or consolidation is filed, whichever is later, the constituent company, the surviving company
or the consolidated company must make a written offer to each dissenting shareholder to purchase his shares at a price that the
company determines is the fair value and if the company and the shareholder agree the price within 30 days following the date
on which the offer was made, the company must pay the shareholder such amount; (e) if the company and the shareholder fail to
agree a price within such 30 day period, within 20 days following the date on which such 30 day period expires, the company (and
any dissenting shareholder) must file a petition with the Cayman Islands Grand Court to determine the fair value and such petition
must be accompanied by a list of the names and addresses of the dissenting shareholders with whom agreements as to the fair value
of their shares have not been reached by the company. At the hearing of that petition, the court has the power to determine the
fair value of the shares together with a fair rate of interest, if any, to be paid by the company upon the amount determined to
be the fair value. Any dissenting shareholder whose name appears on the list filed by the company may participate fully in all
proceedings until the determination of fair value is reached. These rights of a dissenting shareholder are not be available in
certain circumstances, for example, to dissenters holding shares of any class in respect of which an open market exists on a recognized
stock exchange or recognized interdealer quotation system at the relevant date or where the consideration for such shares to be
contributed are shares of any company listed on a national securities exchange or shares of the surviving or consolidated company.</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>

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<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">Moreover, Cayman Islands law also has
separate statutory provisions that facilitate the reconstruction or amalgamation of companies in certain circumstances, schemes
of arrangement will generally be more suited for complex mergers or other transactions involving widely held companies, commonly
referred to in the Cayman Islands as a &ldquo;scheme of arrangement&rdquo; which may be tantamount to a merger. In the event that
a merger was sought pursuant to a scheme of arrangement (the procedure of which are more rigorous and take longer to complete
than the procedures typically required to consummate a merger in the United States), the arrangement in question must be approved
by a majority in number of each class of shareholders and creditors with whom the arrangement is to be made and who must in addition
represent three-fourths in value of each such class of shareholders or creditors, as the case may be, that are present and voting
either in person or by proxy at a meeting, or meeting summoned for that purpose. The convening of the meetings and subsequently
the terms of the arrangement must be sanctioned by the Grand Court of the Cayman Islands. While a dissenting shareholder would
have the right to express to the court the view that the transaction should not be approved, the court can be expected to approve
the arrangement if it satisfies itself that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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">&#9679;</TD><TD STYLE="text-align: justify">we are not proposing
                                         to act illegally or beyond the scope of our corporate authority and the statutory provisions
                                         as to majority vote have been complied with;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">the shareholders have
                                         been fairly represented at the meeting in question;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">the arrangement is
                                         such as a businessman would reasonably approve; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">the arrangement is
                                         not one that would more properly be sanctioned under some other provision of the Companies
                                         Law or that would amount to a &ldquo;fraud on the minority.&rdquo;</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If a scheme of arrangement or takeover
offer (as described below) is approved, any dissenting shareholder would have no rights comparable to appraisal rights, which
would otherwise ordinarily be available to dissenting shareholders of United States corporations, providing rights to receive
payment in cash for the judicially determined value of the shares.</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"><I>Squeeze-out Provisions</I>. When a
takeover offer is made and accepted by holders of 90% of the shares to whom the offer relates is made within four months, the
offeror may, within a two-month period, require the holders of the remaining shares to transfer such shares on the terms of the
offer. An objection can be made to the Grand Court of the Cayman Islands but this is unlikely to succeed unless there is evidence
of fraud, bad faith, collusion or inequitable treatment of the shareholders.</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">Further, transactions similar to a merger,
reconstruction and/or an amalgamation may in some circumstances be achieved through other means to these statutory provisions,
such as a share capital 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; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Shareholders&rsquo; Suits</I>. Our
Cayman Islands counsel is not aware of any reported class action having been brought in a Cayman Islands court. Derivative actions
have been brought in the Cayman Islands courts, and the Cayman Islands courts have confirmed the availability for such actions.
In most cases, we will be the proper plaintiff in any claim based on a breach of duty owed to us, and a claim against (for example)
our officers or directors usually may not be brought by a shareholder. However, based both on Cayman Islands authorities and on
English authorities, which would in all likelihood be of persuasive authority and be applied by a court in the Cayman Islands,
exceptions to the foregoing principle apply in circumstances in which:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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">&#9679;</TD><TD STYLE="text-align: justify">a company is acting,
                                         or proposing to act, illegally or beyond the scope of its authority;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">the act complained
                                         of, although not beyond the scope of the authority, could be effected if duly authorized
                                         by more than the number of votes which have actually been obtained; or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">those who control
                                         the company are perpetrating a &ldquo;fraud on the minority.&rdquo;</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A shareholder may have a direct right
of action against us where the individual rights of that shareholder have been infringed or are about to be infringed.</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"><I>Enforcement of civil liabilities</I>.
The Cayman Islands has a different body of securities laws as compared to the United States and may provide less protection to
investors. Additionally, Cayman 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; text-align: justify">&nbsp;</P>

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

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<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">We have been advised by our Cayman Islands
legal counsel that the courts of the Cayman Islands are unlikely (i) to recognize or enforce against us judgments of courts of
the United States predicated upon the civil liability provisions of the federal securities laws of the United States or any state;
and (ii) in original actions brought in the Cayman Islands, to impose liabilities against us predicated upon the civil liability
provisions of the federal securities laws of the United States or any state, so far as the liabilities imposed by those provisions
are penal in nature. In those circumstances, although there is no statutory enforcement in the Cayman Islands of judgments obtained
in the United States, the courts of the Cayman Islands will recognize and enforce a foreign money judgment of a foreign court
of competent jurisdiction without retrial on the merits based on the principle that a judgment of a competent foreign court imposes
upon the judgment debtor an obligation to pay the sum for which judgment has been given provided certain conditions are met. For
a foreign judgment to be enforced in the Cayman Islands, such judgment must be final and conclusive and for a liquidated sum,
and must not be in respect of taxes or a fine or penalty, inconsistent with a Cayman Islands judgment in respect of the same matter,
impeachable on the grounds of fraud or obtained in a manner, and or be of a kind the enforcement of which is, contrary to natural
justice or the public policy of the Cayman Islands (awards of punitive or multiple damages may well be held to be contrary to
public policy). A Cayman Islands Court may stay enforcement proceedings if concurrent proceedings are being brought elsewhere.</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"><I>Special Considerations for Exempted
Companies</I>. We are an exempted company with limited liability under the Companies Law. The Companies Law distinguishes between
ordinary resident companies and exempted companies. Any company that is registered in the Cayman Islands but conducts business
mainly outside of the Cayman Islands may apply to be registered as an exempted company. The requirements for an exempted company
are essentially the same as for an ordinary company except for the exemptions and privileges listed below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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">&#9679;</TD><TD STYLE="text-align: justify">annual reporting requirements
                                         are minimal and consist mainly of a statement that the company has conducted its operations
                                         mainly outside of the Cayman Islands and has complied with the provisions of the Companies
                                         Law;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">an exempted company&rsquo;s
                                         register of members is not open to inspection;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">an exempted company
                                         does not have to hold an annual general meeting;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">an exempted company
                                         may issue negotiable or bearer shares or shares with no par value;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">an exempted company
                                         may obtain an undertaking against the imposition of any future taxation (such undertakings
                                         are usually given for 20 years in the first instance);</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">an exempted company
                                         may register by way of continuation in another jurisdiction and be deregistered in the
                                         Cayman Islands;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">an exempted company
                                         may register as a limited duration company; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">an exempted company
                                         may register as a segregated portfolio company.</TD></TR></TABLE>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Amended and Restated Memorandum and
Articles of Association</P>

<P STYLE="font: bold 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">Our amended and restated memorandum and
articles of association filed under the laws of the Cayman Islands contain provisions designed to provide certain rights and protections
to our shareholders prior to the consummation of a business combination. The following are the material rights and protections
contained in our amended and restated memorandum and articles of association:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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">&#9679;</TD><TD STYLE="text-align: justify">the right of public
                                         shareholders to exercise conversion rights and have their public shares redeemed in lieu
                                         of participating in a proposed business combination;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">a prohibition against
                                         completing a business combination unless we have net tangible assets of at least $5,000,001
                                         upon consummation of such business combination;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">a requirement that
                                         if we seek shareholder approval of any business combination, a majority of the issued
                                         and outstanding ordinary shares voted must be voted in favor of such business combination;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">the separation of
                                         our board of directors into three classes and the establishment of related procedures
                                         regarding the standing and election of such directors;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">a requirement that
                                         directors may call general meetings on their own accord and are required to call an extraordinary
                                         general meeting if holders of not less than 10% in par value of the issued shares request
                                         such a meeting;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">a prohibition, prior
                                         to a business combination, against our issuing (i) any ordinary shares or any securities
                                         convertible into ordinary shares or (ii) any other securities (including preferred shares)
                                         which participate in or are otherwise entitled in any manner to any of the proceeds in
                                         the trust account or which vote as a class with the ordinary shares on a business combination;</TD></TR></TABLE>

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

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

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify"><P STYLE="margin: 0pt 0">a
                                         requirement that our management take all actions necessary to liquidate our trust account
                                         in the event we do not consummate a business combination by 15 months from the consummation
                                         of this offering (or 18 months in certain circumstances described elsewhere herein);</P> </TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">a prohibition, prior
                                         to a business combination, against our issuing (i) any ordinary shares or any securities
                                         convertible into ordinary shares or (ii) any other securities (including preferred shares)
                                         which participate in or are otherwise entitled in any manner to any of the proceeds in
                                         the trust account or which vote as a class with the ordinary shares on a business combination;
                                         and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">the limitation on
                                         shareholders&rsquo; rights to receive a portion of the trust account.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Companies Law permits a company incorporated
in the Cayman Islands to amend its memorandum and articles of association with the approval of the holders of at least two-thirds
of such company&rsquo;s outstanding ordinary shares. A company&rsquo;s articles of association may specify that the approval of
a higher majority is required but, provided the approval of the required majority is obtained, any Cayman Islands company may
amend its memorandum and articles of association regardless of whether its memorandum and articles of association provides otherwise.
Accordingly, although we could amend any of the provisions relating to our proposed offering, structure and business plan which
are contained in our amended and restated memorandum and articles of association, we view all of these provisions as binding obligations
to our shareholders and neither we, nor our officers or directors, will take any action to amend or waive any of these provisions
unless we provide dissenting public shareholders with the opportunity to convert their public shares in connection with any such
vote. The foregoing is set forth in our amended and restated memorandum and articles of association and cannot be amended.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Anti-Money Laundering &mdash; Cayman
Islands</P>

<P STYLE="font: bold 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">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; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We reserve the right to request such information
as is necessary to verify the identity of a subscriber. In some cases the directors may be satisfied that no further information
is required since an exemption applies under the Money Laundering Regulations (2015 Revision) of the Cayman Islands, as amended
and revised from time to time (the &ldquo;Regulations&rdquo;). Depending on the circumstances of each application, a detailed
verification of identity might not be required where:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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: 0.5in">(a)</TD><TD STYLE="text-align: justify">the subscriber makes the
                                         payment for their investment from an account held in the subscriber&rsquo;s name at a
                                         recognized financial institution; or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in">(b)</TD><TD STYLE="text-align: justify">the subscriber is regulated
                                         by a recognized regulatory authority and is based or incorporated in, or formed under
                                         the law of, a recognized jurisdiction; or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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: 0.5in">(c)</TD><TD STYLE="text-align: justify">the application is made
                                         through an intermediary which is regulated by a recognized regulatory authority and is
                                         based in or incorporated in, or formed under the law of a recognized jurisdiction and
                                         an assurance is provided in relation to the procedures undertaken on the underlying investors.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the purposes of these exceptions,
recognition of a financial institution, regulatory authority or jurisdiction will be determined in accordance with the Regulations
by reference to those jurisdictions recognized by the Cayman Islands Monetary Authority as having equivalent anti-money laundering
regulations.</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">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; text-align: justify">&nbsp;</P>

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

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<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">We also reserve the right to refuse to
make any payment to a shareholder if our directors or officers suspect or are advised that the payment to such shareholder might
result in a breach of applicable anti-money laundering or other laws or regulations by any person in any relevant jurisdiction,
or if such refusal is considered necessary or appropriate to ensure our compliance with any such laws or regulations in any applicable
jurisdiction.</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">If any person resident in the Cayman Islands
knows or suspects or has reasonable grounds for knowing or suspecting that another person is engaged in criminal conduct or is
involved with terrorism or terrorist property and the information for that knowledge or suspicion came to their attention in the
course of business in the regulated sector, or other trade, profession, business or employment, the person will be required to
report such knowledge or suspicion to (i) the Financial Reporting Authority of the Cayman Islands, pursuant to the Proceeds of
Crime Law (2017 Revision) of the Cayman Islands if the disclosure relates to criminal conduct or money laundering, or (ii) a police
officer of the rank of constable or higher, or the Financial Reporting Authority, pursuant to the Terrorism Law (2017 Revision)
of the Cayman Islands, if the disclosure relates to involvement with terrorism or terrorist financing and property. 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; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a015_v1"></A>SHARES ELIGIBLE
FOR FUTURE SALE</P>

<P STYLE="font: bold 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"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Immediately after this offering, we will
have 22,975,000 ordinary shares issued and outstanding, or 26,404,000 shares if the over-allotment option is exercised in full.
Of these shares, the 18,000,000 shares sold in this offering, or 20,700,000 shares if the over-allotment option is exercised in
full, 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 144 under the Securities Act. All of the remaining shares are restricted securities
under Rule 144, in that they were issued in private transactions not involving a public offering. All of those shares will not
be transferable except in limited circumstances described elsewhere in this prospectus.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Rule 144</P>

<P STYLE="font: italic bold 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">A person who has beneficially owned restricted
ordinary shares or warrants for at least six months would be entitled to sell their securities provided that (i) 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)
we are subject to the Exchange Act periodic reporting requirements for at least three months before the sale. Persons who have
beneficially owned restricted ordinary shares for at least six months but who are our affiliates at the time of, or 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 a number of shares that does not exceed the greater of either of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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">&#9679;</TD><TD STYLE="text-align: justify"><P STYLE="margin: 0pt 0">1% of the number of ordinary shares then issued and outstanding, which will equal 229,750 shares immediately
after this offering (or 264,040 if the over-allotment option is exercised in full); and</P>


</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">the average weekly
                                         trading volume of the ordinary shares during the four calendar weeks preceding the filing
                                         of a notice on Form 144 with respect to the sale.</TD></TR></TABLE>

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Restrictions on the Use of Rule 144
by Shell Companies or Former Shell Companies</P>

<P STYLE="font: bold 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">Historically, the SEC staff had taken
the position that Rule 144 is not available for the resale of securities initially issued by companies that are, or previously
were, blank check companies, like us. The SEC has codified and expanded this position in the amendments discussed above by prohibiting
the use of Rule 144 for resale of securities issued by any shell companies (other than business combination related shell companies)
or any issuer that has been at any time previously a shell company. The SEC has provided an important exception to this prohibition,
however, if the following conditions are met:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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">&#9679;</TD><TD STYLE="text-align: justify">the issuer of the
                                         securities that was formerly a shell company has ceased to be a shell company;</TD></TR></TABLE>

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

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

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">the issuer of the
                                         securities is subject to the reporting requirements of Section 13 or 15(d) of the Exchange
                                         Act;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">the issuer of the
                                         securities has filed all Exchange Act reports and material required to be filed, as applicable,
                                         during the preceding 12 months (or such shorter period that the issuer was required to
                                         file such reports and materials), other than Form 8-K reports; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">at least one year
                                         has elapsed from the time that the issuer filed current Form 10 type information with
                                         the SEC reflecting its status as an entity that is not a shell company.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As a result, it is likely that pursuant
to Rule 144, our initial shareholders will be able to sell their insider shares freely without registration one year after we
have completed our initial business combination assuming they are not an affiliate of ours at that time.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Registration Rights</P>

<P STYLE="font: italic bold 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">The holders of our insider shares issued
and outstanding on the date of this prospectus, as well as the holders of the private units (and underlying securities) and any
securities issued to our initial shareholders, officers, directors or their affiliates in payment of working capital loans made
to us, will be entitled to registration rights pursuant to an agreement to be signed prior to or on the effective date of this
offering. The holders of a majority of these securities are entitled to make up to two demands that we register such securities.
The holders of the majority of the insider shares can elect to exercise these registration rights at any time commencing three
months prior to the date on which these ordinary shares are to be released from escrow. The holders of a majority of the private
units (and underlying securities) and securities issued in payment of working capital loans (or underlying securities) can elect
to exercise these registration rights at any time after we consummate a business combination. In addition, the holders have certain
&ldquo;piggy-back&rdquo; registration rights with respect to registration statements filed subsequent to our consummation of a
business combination. 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; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a016_v1"></A>TAXATION</P>

<P STYLE="font: bold 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">The following summary of the material
Cayman Islands and U.S. federal income tax consequences of an investment in our units, ordinary shares, rights and warrants to
acquire our ordinary shares, sometimes referred to, individually or collectively, in this summary as our &ldquo;securities,&rdquo;
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 securities, 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; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cayman Islands Taxation</P>

<P STYLE="font: bold 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">The Government of the Cayman Islands will
not, under existing legislation, impose any income, corporate or capital gains tax, estate duty, inheritance tax, gift tax or
withholding tax upon us or our shareholders. The Cayman Islands are not party to a double taxation treaty with any country that
is applicable to any payment made to or by us.</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">We have applied for and received an
undertaking from the Financial Secretory of the Cayman Islands that, in accordance with section 6 of the Tax Concessions Law (2011
Revision) of the Cayman Islands, for a period of 20 years from the date of the undertaking, no law which is enacted in the Cayman
Islands imposing any tax to be levied on profits, income, gains or appreciations shall apply to us or our operations and, in addition,
that no tax to be levied on profits, income, gains or appreciations or which is in the nature of estate duty or inheritance tax
shall be payable (i) on or in respect of shares, debentures or other obligations or (ii) by way of the withholding in whole or
in part of a payment of dividend or other distribution of income or capital by us to our shareholders or a payment of principal
or interest or other sums due under a debenture or other obligation of us.</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>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">United States Federal Income Taxation</P>

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

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

<P STYLE="font: italic bold 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">This section is a general summary of the
material U.S. federal income tax provisions relating to the acquisition, ownership and disposition of our securities issued pursuant
to this offering. This section does not address any aspect of U.S. federal gift or estate tax, or the state, local or non-U.S.
tax consequences of an investment in our securities, nor does it provide any actual representations as to any tax consequences
of the acquisition, ownership or disposition of our securities.</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">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 ordinary share, one-half of a redeemable warrant and right components of the unit, as the case
may be. As a result, the discussion below of the U.S. federal income tax consequences with respect to actual holders of ordinary
shares, warrants and rights should also apply to holders of units (as the deemed owners of the underlying ordinary shares, warrants
and rights that comprise the units).</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">The discussion below of the U.S. federal
income tax consequences to &ldquo;U.S. Holders&rdquo; will apply to a beneficial owner of our securities 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">&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">&#9679;</TD><TD STYLE="text-align: justify">an individual citizen
                                         or resident of the United States;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">a corporation (or
                                         other entity treated as a corporation) 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;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">an estate whose income
                                         is includible in gross income for U.S. federal income tax purposes regardless of its
                                         source; or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">a trust if (i) a U.S.
                                         court can exercise primary supervision over the trust&rsquo;s administration and one
                                         or more U.S. persons are authorized to control all substantial decisions of the trust,
                                         or (ii) it has a valid election in effect under applicable U.S. Treasury regulations
                                         to be treated as a U.S. person.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If a beneficial owner of our securities
is not described as a U.S. Holder and is not an entity treated as a partnership or other pass-through entity for U.S. federal
income tax purposes, such owner will be considered a &ldquo;Non-U.S. Holder.&rdquo; The material U.S. federal income tax consequences
applicable specifically to Non-U.S. Holders are described below under the heading &ldquo;Non-U.S. Holders.&rdquo;</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">This discussion is based on the Internal
Revenue Code of 1986, as amended (the &ldquo;Code&rdquo;), its legislative history, Treasury regulations promulgated thereunder,
published rulings and court decisions, all as currently in effect. These authorities are subject to change or differing interpretations,
possibly on a retroactive basis.</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">This discussion assumes that the ordinary
shares, warrants and rights will trade separately and does not address all aspects of U.S. federal income taxation that may be
relevant to any particular holder based on such holder&rsquo;s individual circumstances. In particular, this discussion considers
only holders purchase units pursuant to this offering and own and hold our securities as capital assets within the meaning of
Section 1221 of the Code, and does not address the potential application of the alternative minimum tax. In addition, this discussion
does not address the U.S. federal income tax consequences to holders that are subject to special rules, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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">&#9679;</TD><TD STYLE="text-align: justify">financial institutions
                                         or financial services entities;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">broker-dealers;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">taxpayers that are
                                         subject to the mark-to-market accounting rules under Section 475 of the Code;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">tax-exempt entities;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">governments or agencies
                                         or instrumentalities thereof;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">insurance companies;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">regulated investment
                                         companies;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">real estate investment
                                         trusts;</TD></TR></TABLE>

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

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

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">expatriates or former
                                         long-term residents of the United States;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">persons that actually
                                         or constructively own 5 percent or more of our voting shares;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">persons that acquired
                                         our securities pursuant to an exercise of employee share options, in connection with
                                         employee share incentive plans or otherwise as compensation;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">persons that hold
                                         our securities as part of a straddle, constructive sale, hedging, conversion or other
                                         integrated transaction;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">persons whose functional
                                         currency is not the U.S. dollar;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">controlled foreign
                                         corporations; or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">passive foreign investment
                                         companies.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This discussion does not address
any aspect of U.S. federal non-income tax laws, such as gift or estate tax laws, state, local or non-U.S. tax laws or, except
as discussed herein, any tax reporting obligations of a holder of our securities. Additionally, this discussion does not
consider the tax treatment of partnerships or other pass-through entities or persons who hold our securities through such
entities. If a partnership (or other entity classified as a partnership for U.S. federal income tax purposes) is the
beneficial owner of our securities, the U.S. 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. This discussion also assumes that any
distributions made (or deemed made) by us on our securities shares and any consideration received (or deemed received) by a
holder in consideration for the sale or other disposition of our securities will be in U.S. dollars. In addition, this
discussion assumes that a holder will own a sufficient number of warrants (in multiples of two) or rights (in multiples of
10) such that upon exercise of the warrants or conversion of the rights, the holder will acquire only a whole number of
ordinary shares and will not forfeit any fractional securities.</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">We have not sought, and will not seek,
a ruling from the IRS as to any U.S. federal income tax consequence described herein. The IRS may disagree with the descriptions
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 adversely affect the accuracy of the statements in this discussion.</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">THIS DISCUSSION IS ONLY A SUMMARY OF THE
MATERIAL U.S. FEDERAL INCOME TAX CONSEQUENCES OF THE ACQUISITION, OWNERSHIP AND DISPOSITION OF OUR SECURITIES. IT DOES NOT PROVIDE
ANY ACTUAL REPRESENTATIONS AS TO ANY TAX CONSEQUENCES OF THE ACQUISITION, OWNERSHIP AND DISPOSITION OF OUR SECURITIES AND WE HAVE
NOT OBTAINED ANY OPINION OF COUNSEL WITH RESPECT TO SUCH TAX CONSEQUENCES. AS A RESULT, 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 STATE, LOCAL, AND NON-U.S. TAX LAWS, AS WELL
AS U.S. FEDERAL TAX LAWS AND ANY APPLICABLE TAX TREATIES.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Allocation of Purchase Price
and Characterization of a Unit</P>

<P STYLE="font: italic bold 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">There is no authority addressing the
treatment, for U.S. federal income tax purposes, of securities with terms substantially the same as the units, and, therefore,
that treatment is not entirely clear. Each unit should be treated for U.S. federal income tax purposes as an investment unit consisting
of one ordinary share, one-half of a redeemable warrant to acquire one ordinary share and one right to acquire one-tenth (1/10)
of one ordinary share. For U.S. federal income tax purposes, each holder of a unit generally must allocate the purchase price
of a unit among the ordinary share, one-half warrant and right that comprise the unit based on the relative fair market value
of each at the time of issuance. The price allocated to each ordinary share, one-half warrant and right generally will be the
holder&rsquo;s tax basis in such share, one-half warrant or right, as the case may be.</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">In addition, although we intend to treat the rights for
U.S. federal income tax purposes in a manner similar to options to acquire our ordinary shares in the future, there is a risk
that alternate characterizations of the rights could result in U.S. federal income tax consequences to the holders of the rights
that differ from those described below.</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>

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<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">The foregoing treatment of our ordinary
shares, warrants 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. Accordingly, each holder is advised to
consult its own tax advisor regarding the risks associated with an investment in a unit (including alternative characterizations
of a unit or the components thereof) and regarding an allocation of the purchase price among the components of a unit. The balance
of this discussion assumes that the characterization of the units (and the components thereof) as described above is respected
for U.S. federal income tax purposes.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">U.S. Holders</P>

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

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

<P STYLE="font: italic bold 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">Certain U.S. Holders may be required to
file an IRS Form 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. 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; text-align: justify">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Taxation
of Distributions Paid on Ordinary Shares</P>

<P STYLE="font: italic bold 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">Subject to the passive foreign investment
company (&ldquo;PFIC&rdquo;) rules discussed below, a U.S. Holder generally will be required to include in gross income as dividends
the amount of any cash distribution paid on our ordinary shares. A cash 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. Distributions in excess of such earnings and profits generally
will be applied against and reduce the U.S. Holder&rsquo;s basis in its 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 ordinary shares. With respect to non-corporate
U.S. Holders, dividends may be subject to the lower applicable long-term capital gains tax rate (see &ldquo;&mdash; Taxation
on the Disposition of Securities&rdquo; below) if our ordinary shares are readily tradeable on an established securities market
in the United States and certain other requirements are met. U.S. Holders should consult their own tax advisors regarding the
availability of the lower rate for dividends paid with respect to our ordinary shares.</P>

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

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

<P STYLE="font: italic bold 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">The terms of each warrant provide for
an adjustment to the number of shares for which the warrant may be exercised or to the exercise price of the warrant in certain
events. An adjustment which has the effect of preventing dilution generally is not taxable. However, the U.S. Holders of the warrants
would be treated as receiving a constructive distribution from us if, for example, the adjustment increases the warrant holders&rsquo;
proportionate interest in our assets or earnings and profits (e.g., through an increase in the number of ordinary shares that
would be obtained upon exercise) as a result of a distribution of cash to the holders of our ordinary shares which is taxable
to the U.S. Holders of such ordinary shares as described under &ldquo;&mdash; Taxation of Distributions Paid on Ordinary Shares&rdquo; above. Such constructive distribution would be subject to tax as described under that section in the same manner as if
the U.S. Holders of the warrants received a cash distribution from us equal to the fair market value of such increased interest.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Taxation
on the Disposition of Securities</P>

<P STYLE="font: italic bold 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">Upon a sale or other taxable disposition
of our securities (which, in general, would include a redemption of ordinary shares, as discussed 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),
and subject to the PFIC rules discussed below, 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 securities.</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>

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<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">The regular U.S. federal income tax
rate on capital gains recognized by U.S. Holders generally is the same as the regular U.S. federal income tax rate on ordinary
income, except that under tax law currently in effect long-term capital gains recognized by non-corporate U.S. Holders are generally
subject to U.S. federal income tax at reduced rates. Capital gain or loss will constitute long-term capital gain or loss if the
U.S. Holder&rsquo;s holding period for the ordinary shares or warrants exceeds one year. The deductibility of capital losses is
subject to various limitations. U.S. Holders who recognize losses with respect to a disposition of our securities should consult
their own tax advisors regarding the tax treatment of such losses.</P>

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

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

<P STYLE="font: italic bold 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">Subject to the PFIC rules described
below, if a U.S. Holder converts ordinary shares into the right to receive cash pursuant to the exercise of a shareholder conversion
right or sells its ordinary shares to us pursuant to a tender offer, for U.S. federal income tax purposes, such conversion or
sale generally will be treated as a redemption and will be subject to the following rules. If the redemption qualifies as a sale
of the ordinary shares under Section 302 of the Code, the tax treatment of such redemption will be as described under &ldquo;&mdash;
Taxation on the Disposition of Securities&rdquo; above. If the redemption does not qualify as a sale of ordinary shares under
Section 302 of the Code, a U.S. Holder will be treated as receiving a distribution with the tax consequences described below.
Whether redemption of our shares qualifies for sale treatment will depend largely on the total number of our ordinary shares treated
as held by such U.S. Holder. The redemption of ordinary shares generally will be treated as a sale or exchange of the ordinary
shares (rather than as a distribution) if the receipt of cash upon the conversion (i) is &ldquo;substantially disproportionate&rdquo;
with respect to a U.S. Holder, (ii) results in a &ldquo;complete termination&rdquo; of such holder&rsquo;s interest in us or (iii)
is &ldquo;not essentially equivalent to a dividend&rdquo; with respect to such holder. These tests are explained more fully below.</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">In determining whether any of the foregoing
tests are satisfied, a U.S. Holder must take into account not only our ordinary shares actually owned by such holder, but also
our ordinary shares that are constructively owned by such holder. A U.S. Holder may constructively own, in addition to our ordinary
shares owned directly, ordinary shares owned by related individuals and entities in which such holder has an interest or that
have an interest in such holder, as well as any ordinary shares such holder has a right to acquire by exercise of an option, which
would generally include ordinary shares which could be acquired pursuant to the exercise of warrants. In order to meet the substantially
disproportionate test, the percentage of our issued and outstanding voting shares actually and constructively owned by a U.S.
Holder immediately following the redemption of our ordinary shares must, among other requirements, be less than 80% of the percentage
of our issued and outstanding voting and ordinary shares actually and constructively owned by such holder immediately before the
redemption. There will be a complete termination of a U.S. Holder&rsquo;s interest if either (i) all of our ordinary shares actually
and constructively owned by such U.S. Holder are redeemed or (ii) all of our ordinary shares actually owned by such U.S. Holder
are redeemed and such holder is eligible to waive, and effectively waives, in accordance with specific rules, the attribution
of shares owned by family members and such holder does not constructively own any other shares. The redemption of the ordinary
shares will not be essentially equivalent to a dividend if such redemption results in a &ldquo;meaningful reduction&rdquo; of
a 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; U.S. Holders should
consult with their own tax advisors as to the tax consequences of any such redemption.</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">If none of the foregoing tests are satisfied,
then the redemption may be treated as a distribution and the tax effects will be as described under &ldquo;&mdash; Taxation of
Distributions Paid on Ordinary Shares,&rdquo; above. After the application of those rules, any remaining tax basis a U.S. Holder
has in the redeemed ordinary shares will be added to the adjusted tax basis in such holder&rsquo;s remaining ordinary shares.
If there are no remaining 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; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Certain U.S. Holders may be subject to
special reporting requirements with respect to a redemption of 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; text-align: justify">&nbsp;</P>

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

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<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: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Exercise
or Lapse of a Warrant</P>

<P STYLE="font: italic bold 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">Subject to the PFIC rules discussed below,
a U.S. Holder generally will not recognize gain or loss upon the acquisition of an ordinary share from the exercise of a warrant
for cash. An ordinary share acquired pursuant to the exercise of a warrant for cash generally will have a tax basis equal to the
U.S. Holder&rsquo;s tax basis in the warrant, increased by the amount paid to exercise the warrant. The holding period of such
ordinary share generally would begin on the day after the date of exercise of the warrant and will not include the period during
which the U.S. Holder held the warrant. If a warrant is allowed to lapse unexercised, a U.S. Holder generally will recognize a
capital loss equal to such holder&rsquo;s tax basis in the warrant.</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">The tax consequences of a cashless
exercise of warrants are not clear under current tax law. A cashless exercise may be tax-free, either because the exercise is
not a realization event (i.e., not a transaction in which gain or loss is realized) or because the exercise is treated as a recapitalization
for U.S. federal income tax purposes. In either tax-free situation, a U.S. Holder&rsquo;s basis in the ordinary shares received
would equal the holder&rsquo;s basis in the warrants. If the cashless exercise were treated as not being a realization event,
a U.S. Holder&rsquo;s holding period in the ordinary shares would be treated as commencing on the date following the date of exercise
of the warrants. If the cashless exercise were treated as a recapitalization, the holding period of the ordinary shares received
would include the holding period of the warrants. It is also possible that a cashless exercise could be treated as a taxable exchange
in which gain or loss would be recognized. In such event, a U.S. Holder could be deemed to have surrendered a number of warrants
with a fair market value equal to the exercise price for the number of warrants deemed exercised. For this purpose, the number
of warrants deemed exercised would be equal to the amount needed to receive on exercise the number of ordinary shares issued pursuant
to the cashless exercise. In this situation, the U.S. Holder would recognize capital gain or loss in an amount equal to the difference
between the fair market value of the warrants deemed surrendered to pay the exercise price and the U.S. Holder&rsquo;s tax basis
in the warrants deemed surrendered. Such gain or loss would be long-term or short-term depending on the U.S. Holder&rsquo;s holding
period in the warrants. In this case, a U.S. Holder&rsquo;s tax basis in the ordinary shares received would equal the sum of the
fair market value of the warrants deemed surrendered and the U.S. Holder&rsquo;s tax basis in the warrants deemed exercised. A
U.S. Holder&rsquo;s holding period for the ordinary shares should commence on the date following the date of exercise of the warrants.
There may also be alternative characterizations of any such taxable exchange that would result in similar tax consequences, except
that a U.S. Holder&rsquo;s gain or loss would be short-term. Due to the absence of authority on the U.S. federal income tax treatment
of a cashless exercise, there can be no assurance which, if any, of the alternative tax consequences described above would be
adopted by the IRS or a court of law. Accordingly, U.S. Holders should consult their tax advisors regarding the tax consequences
of a cashless exercise of the warrants.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Conversion
or Lapse of Rights</I></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: justify">Subject to the PFIC rules discussed
below, a U.S. Holder generally should not recognize gain or loss upon the acquisition of ordinary shares on the conversion of
the rights, such ordinary shares should have a tax basis equal to such holder&rsquo;s tax basis in the rights, and the holding
period of such shares should begin on the day after such conversion. In addition, a U.S. Holder generally should recognize a capital
loss on the lapse of the rights equal to such holder&rsquo;s tax basis in the rights.</P>

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

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

<P STYLE="font: italic bold 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">Under current tax law, U.S. Holders
that are individual, estates or trusts and whose income exceeds certain thresholds generally will be subject to a 3.8% Medicare
contribution tax on unearned income, including, among other things, dividends on, and gains from the sale or other disposition
of, our securities, subject to certain limitations and exceptions. Under current regulations, in the absence of a special election,
such unearned income generally would not include income inclusions under the qualified election fund (&ldquo;QEF&rdquo;) rules
discussed below under &ldquo;&mdash; Passive Foreign Investment Company Rules,&rdquo; but would include distributions of earnings and
profits from a QEF. U.S. Holders should consult their own tax advisors regarding the effect, if any, of such tax on their ownership
and disposition or our securities.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Passive
Foreign Investment Company Rules</P>

<P STYLE="font: italic bold 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">A foreign (i.e., non-U.S.) corporation
will be a PFIC for U.S. tax purposes if at least 75% of its gross income in a taxable year of such foreign corporation, including
its <I>pro rata</I> 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,
ordinarily determined based on fair market value and averaged quarterly over the year, including its <I>pro rata</I> 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 certain
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; text-align: justify">&nbsp;</P>

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

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<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">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. However, pursuant to a start-up exception, a corporation will not be a PFIC for the first taxable year the corporation
has gross income, if (1) no predecessor of the corporation was a PFIC; (2) the corporation satisfies the IRS that it will not
be a PFIC for either of the first two taxable years following the start-up year; and (3) the corporation is not in fact a PFIC
for either of those years. The applicability of the start-up exception to us is uncertain. After the acquisition of a company
or assets in a business combination, we may still meet one of the PFIC tests depending on the timing of the acquisition and the
amount of our passive income and assets as well as the passive income and assets of the acquired business. If the company that
we acquire in a business combination is a PFIC, then we will likely not qualify for the start-up exception and will be a PFIC
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.</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">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 securities and, in the case
of our ordinary shares, the U.S. Holder did not make a timely QEF election for our first taxable year as a PFIC in which the U.S.
Holder held (or was deemed to hold) such ordinary shares, a QEF election along with a deemed sale (or purging) election, or a
&ldquo;mark-to-market&rdquo; election, each as described below, such holder generally will be subject to special rules for regular
U.S. federal income tax purposes with respect to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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">&#9679;</TD><TD STYLE="text-align: justify">any gain recognized
                                         by the U.S. Holder on the sale or other disposition of our securities; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">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 our securities during
                                         the three preceding taxable years of such U.S. Holder or, if shorter, such U.S. Holder&rsquo;s
                                         holding period for our securities).</TD></TR></TABLE>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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">&#9679;</TD><TD STYLE="text-align: justify">the U.S. Holder&rsquo;s
                                         gain or excess distribution will be allocated ratably over the U.S. Holder&rsquo;s holding
                                         period for our securities;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">the amount allocated
                                         to the U.S. Holder&rsquo;s taxable year in which the U.S. Holder recognized the 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;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">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 U.S. Holder; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">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.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In general, if we are determined to be
a PFIC, a U.S. Holder may avoid the PFIC tax consequences described above in respect to our ordinary shares by making a timely
QEF election (or a QEF election along with a purging election). Pursuant to the QEF election, a U.S. Holder generally will be
required to include in income its <I>pro rata</I> 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 if we are treated as a PFIC for that taxable year. 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; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A U.S. Holder may not make a
QEF election with respect to its warrants or rights to acquire our ordinary shares. As a result, if a U.S. Holder sells or
otherwise disposes of such warrants or rights (other than upon exercise of such warrants or conversion of such rights), any
gain recognized generally will be subject to the special tax and interest charge rules treating the gain as an
excess distribution, as described above, if we were a PFIC at any time during the period the U.S. Holder held the warrants
or rights. If a U.S. Holder that exercises such warrants or converts such rights properly makes a QEF election with respect
to the newly acquired ordinary shares (or has previously made a QEF election with respect to our ordinary shares), the
QEF election will apply to the newly acquired ordinary shares, but the adverse tax consequences relating to PFIC shares,
adjusted to take into account the current income inclusions resulting from the QEF election, will continue to apply with
respect to such newly acquired ordinary shares (which generally will be deemed to have a holding period for purposes of the
PFIC rules that includes the period the U.S. Holder held the warrants or rights), unless the U.S. Holder makes a purging
election under the PFIC rules. The purging election creates a deemed sale of such shares at their fair market value. The gain
recognized by the purging election will be subject to the special tax and interest charge rules treating the gain as an
excess distribution, as described above. As a result of the purging election, the U.S. Holder will increase the adjusted tax
basis in its ordinary shares acquired upon the exercise of the warrants or the conversion of the rights by the gain
recognized and will also have a new holding period in such ordinary shares for purposes of the PFIC rules.</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>

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<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">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 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. U.S. Holders should consult their own
tax advisors regarding the availability and tax consequences of a retroactive QEF election under their particular circumstances.</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">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 upon request 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. However, 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; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If a U.S. Holder has made a QEF election
with respect to our ordinary shares, and the special tax and interest charge rules 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 ordinary shares
generally will be taxable as capital gain and no interest charge will be imposed. As discussed above, for regular U.S. federal
income tax purposes, U.S. Holders of a QEF generally are currently taxed on their <I>pro rata</I> 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 adjusted 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. Similar basis adjustments apply to property if by reason of holding such property the U.S. Holder
is treated under the applicable attribution rules as owning shares in a QEF.</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">Although a determination as to our
PFIC status will be made annually, an initial determination we are a PFIC will generally apply for subsequent years to a U.S.
Holder who held our securities 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 ordinary shares, however, will not be subject to the PFIC tax and interest charge rules 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 of our taxable years that end 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 ordinary shares, the PFIC rules discussed above will continue to apply to such shares unless
the holder files on a timely filed U.S. federal income tax return (including extensions) a QEF election and a purging election
to recognize under the rules of Section 1291 of the Code any gain that the U.S. Holder would otherwise recognize if the U.S. Holder
had sold our shares for their fair market value on the &ldquo;qualification date.&rdquo; The qualification date is the first day
of our tax year in which we qualify as a QEF with respect to such U.S. Holder. The purging election can only be made if such U.S.
Holder held our shares on the qualification date. The gain recognized by the purging election will be subject to the special tax
and interest charge rules treating the gain as an excess distribution, as described above. As a result of the purging election,
the U.S. Holder will increase the adjusted tax basis in our shares by the amount of the gain recognized and will also have a new
holding period in the shares for purposes of the PFIC rules.</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>

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<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">Alternatively, if a U.S. Holder, at
the close of its taxable year, owns (or is deemed to own) shares in a PFIC that are treated as marketable shares, 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) our ordinary shares
and for which we are determined to be a PFIC, such holder generally will not be subject to the PFIC rules described above in respect
to its ordinary shares as long as such shares continue to be treated as marketable shares. Instead, in general, the U.S. Holder
will include as ordinary income for each year that we are treated as a PFIC the excess, if any, of the fair market value of its
ordinary shares at the end of its taxable year over the adjusted basis in its 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 ordinary shares over the fair market value
of its 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 adjusted tax basis in its 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 ordinary
shares in a taxable year in which we are treated as a PFIC will be treated as ordinary income. Special tax rules may also apply
if a U.S. Holder makes a mark-to-market election for a taxable year after the first taxable year in which the U.S. Holder holds
(or is deemed to hold) its ordinary shares and for which we are treated as a PFIC. Currently, a mark-to-market election may not
be made with respect to our warrants or rights.</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">The mark-to-market election is available
only for stock that is regularly traded on a national securities exchange that is registered with the Securities and Exchange
Commission, including the Nasdaq Capital Market, or on a foreign exchange or market that the IRS determines has rules sufficient
to ensure that the market price represents a legitimate and sound fair market value. 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 ordinary shares under
their particular circumstances.</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">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. Upon request, 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 with respect 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; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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 8621 (whether or not a QEF or
mark-to-market election is or has been made) with such U.S. Holder&rsquo;s U.S. federal income tax return and provide such other
information as may be required by the U.S. Treasury Department.</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">The rules 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 our securities should consult their own tax advisors concerning the application of the PFIC rules
to our securities under their particular circumstances.</P>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Non-U.S. Holders</P>

<P STYLE="font: italic bold 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">Dividends (including constructive dividends)
paid or deemed paid to a Non-U.S. Holder in respect to our securities 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 United
States (and, if required by an applicable income tax treaty, are attributable to a permanent establishment or fixed base that
such holder maintains or maintained in the United States).</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">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 securities unless
such gain is effectively connected with its conduct of a trade or business in the United States (and, if required by an applicable
income tax treaty, is attributable to a permanent establishment or fixed base that such holder maintains or maintained in the
United States) 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; text-align: justify">&nbsp;</P>

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

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<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">Dividends and gains that are effectively
connected with the Non-U.S. Holder&rsquo;s conduct of a trade or business in the United States (and, if required by an applicable
income tax treaty, are attributable to a permanent establishment or fixed base that such holder maintains or maintained in the
United States) generally will be subject to regular 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, may also be subject to an additional branch profits 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; text-align: justify">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Backup Withholding and Information
Reporting</P>

<P STYLE="font: italic bold 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">In general, information reporting for
U.S. federal income tax purposes should apply to distributions made on our ordinary shares within the United States to a U.S.
Holder (other than an exempt recipient) and to the proceeds from sales and other dispositions of our securities by a U.S. Holder
(other than an exempt recipient) to or through a U.S. office of a broker. Payments made (and sales and other dispositions effected
at an office) outside the United States will be subject to information reporting in limited circumstances. In addition, certain
information concerning a U.S. Holder&rsquo;s adjusted tax basis in its securities and whether any gain or loss with respect to
such securities in long-term or short-term may be required to be reported to the IRS, and certain holders may be required to file
an IRS Form 8938 (Statement of Specified Foreign Financial Assets) to report their interest in our securities.</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">Moreover, backup withholding of U.S. federal
income tax, currently at a rate of 28%, generally will apply to dividends paid on our securities to a U.S. Holder (other than
an exempt recipient) and the proceeds from sales and other dispositions of our securities by a U.S. Holder (other than an exempt
recipient), in each case who:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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">&#9679;</TD><TD STYLE="text-align: justify">fails to provide an
                                         accurate taxpayer identification number;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">is notified by the
                                         IRS that backup withholding is required; or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">fails to comply with
                                         applicable certification requirements.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A Non-U.S. Holder generally may 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 W-8 or by otherwise establishing an exemption.</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">We will withhold all taxes required to
be withheld by law from any amounts otherwise payable to any holder of our securities, including tax withholding required by the
backup withholding rules. Backup withholding is not an additional tax. Rather, the amount of any backup withholding will be allowed
as a credit against a U.S. Holder&rsquo;s or a Non-U.S. Holder&rsquo;s U.S. federal income tax liability and may entitle such
holder to a refund, provided that the requisite information is timely furnished to the IRS. 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">&nbsp;</P>


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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a017_v1"></A>UNDERWRITING</P>

<P STYLE="font: bold 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">We intend to offer our securities described
in this prospectus through the underwriters named below. EarlyBirdCapital, Inc. is the representative for the underwriters. We
have entered into an underwriting agreement with the representative. Subject to the terms and conditions of the underwriting agreement,
each of the underwriters has severally agreed to purchase from us the number of units listed next to its name in the following
table:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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-weight: bold; border-bottom: Black 1pt solid">Underwriter</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">Number of Units</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">EarlyBirdCapital, Inc.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15,900,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Chardan Capital Markets LLC</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,200,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">I-Bankers Securities, Inc.<P STYLE="margin: 0pt 0"></P>


</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">900,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 87%; padding-bottom: 2.5pt">Total</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; border-bottom: Black 2.5pt double; text-align: right">18,000,000</TD><TD STYLE="width: 1%; padding-bottom: 2.5pt; 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">A copy of the underwriting agreement has
been filed as an exhibit to the registration statement of which this prospectus forms a part.</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">The underwriting agreement provides that
the underwriters must purchase all of the units if they purchase any of them. However, the underwriters are not required to take
or pay for the units covered by the over-allotment option described below.</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">Our units are offered subject to a number
of conditions, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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">&#9679;</TD><TD STYLE="text-align: justify">receipt and acceptance
                                         of the units by the underwriters; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">the underwriters&rsquo;
                                         right to reject orders in whole or in part.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with this offering, certain
of the underwriters or securities dealers may distribute prospectuses electronically.</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">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 this offering.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Over-allotment Option</P>

<P STYLE="font: bold 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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have granted the underwriters an option
to buy up to 2,700,000 additional units. The underwriters may exercise this option solely for the purpose of covering over-allotments,
if any, made in connection with this offering. The underwriters have 45 days from the date of this prospectus to exercise this
option. If the underwriters exercise this option, they will each purchase additional units approximately in proportion to the
amounts specified in the table above.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Commissions and Discounts</P>

<P STYLE="font: bold 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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Units sold by the underwriters to the
public will initially be offered at the offering price set forth on the cover of this prospectus. Any units sold by the underwriters
to securities dealers may be sold at a discount of up to $0.12 per unit from the public offering price. Any of these securities
dealers may resell any units purchased from the underwriters to other brokers or dealers at a discount of up to $0.01 per unit
from the public offering price. If all of the units are not sold at the initial public offering price, the representative may
change the offering price and the other selling terms. Upon 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. No offer or invitation to subscribe for units
may be made to the public in the Cayman Islands.</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>

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<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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table shows the per unit
and total underwriting discounts and commissions we will pay to the underwriters assuming both no exercise and full exercise of
the underwriters&rsquo; over-allotment option to purchase up to an additional 2,700,000 units.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Per Unit</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Without Over-allotment</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">With <BR> Over-allotment</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 61%">Public offering price</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">10.00</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">180,000,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">207,000,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Discount</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.20</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,600,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4,140,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Proceeds before expenses<SUP>(1)</SUP></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">9.80</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">176,400,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">202,860,000</TD><TD STYLE="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>

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<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 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><P STYLE="margin: 0pt 0">The offering expenses are estimated at $650,000.</P>


</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">No discounts or commissions will be paid on the sale of the
private units.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Business Combination Marketing Agreement</P>

<P STYLE="font: bold 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">We have engaged EarlyBirdCapital to assist
us in connection with our initial business combination. Pursuant to this arrangement, EarlyBirdCapital will assist us in holding
meetings with our shareholders to discuss the potential business combination and the target business&rsquo;s attributes, introduce
us to potential investors that may be interested in purchasing our securities in connection with our proposed business combination,
assist us in obtaining shareholder approval for the business combination and assist us with our press releases and certain public
filings in connection with the business combination. Pursuant to this arrangement, we will pay EarlyBirdCapital a cash fee equal
to 3.5% of the gross proceeds received in this offering for such services upon the consummation of our initial business combination
(exclusive of any applicable finders&rsquo; fees which might become payable); provided that up to 1.0% of the gross proceeds of
this offering may be allocated at our sole discretion to one or more advisors that assist us in identifying and consummating an
initial business combination. We will also reimburse EarlyBirdCapital for up to $20,000 of its reasonable costs and expenses incurred
by it (including reasonable fees and disbursements of counsel) in connection with the performance of its services pursuant to
the agreement; provided, however, all expenses in excess of $5,000 in the aggregate shall be subject to our prior written approval,
which approval will not be unreasonably withheld.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Unit Purchase Option</P>

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

<P STYLE="font: bold 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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have agreed to sell to the representative,
for $100, an option to purchase up to a total of 900,000 units. The units issuable upon exercise of this option are identical
to those offered by this prospectus. This option is exercisable at $10.00 per unit, and may be exercised on a cashless basis,
in whole or in part, commencing on the later of the consummation of a business combination or the one-year anniversary of the
date of this prospectus. The option expires on the five-year anniversary of the effective date of the registration statement of
which this prospectus forms a part. Notwithstanding anything to the contrary, EarlyBirdCapital has agreed that neither it nor
its designees shall be entitled to exercise the option or the warrants underlying the unit purchase option after the five year
anniversary of the effective date of the registration statement of which this prospectus forms a part. The option and the 900,000
units and the securities underlying the 90,000 units have been deemed compensation by FINRA and are therefore subject to a 180-day
lock-up pursuant to Rule 5110(g)(1) of the FINRA Conduct Rules. Accordingly, the option may not be sold, transferred, assigned,
pledged or hypothecated, or be the subject of any hedging, short sale, derivative, put, or call transaction that would result
in the effective 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 this prospectus forms a part, except to any underwriter and selected dealer participating
in the offering and their bona fide officers or partners and except as otherwise provided in Rule 5110(g)(2) of the FINRA Conduct
Rules. Although the unit purchase option and its underlying securities have been registered under the registration statement of
which this prospectus forms a part, the option grants to holders demand and &ldquo;piggy back&rdquo; rights for periods of five
and seven years, respectively, from the effective date of the registration statement of which this prospectus forms a part with
respect to the registration under the Securities Act of the securities directly and indirectly issuable upon exercise of the option.
We will bear all fees and expenses attendant to registering the securities, other than underwriting commissions which will be
paid for by the holders themselves. We will have no obligation to net cash settle the exercise of the unit purchase option or
the warrants underlying the unit purchase option. The holder of the unit purchase option will not be entitled to exercise the
unit purchase option or the warrants underlying the unit purchase option unless a registration statement covering the securities
underlying the unit purchase option is effective or an exemption from registration is available. If the holder is unable to exercise
the unit purchase option or underlying warrants, the unit purchase option or warrants, as applicable, will expire worthless.</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>

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<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">The exercise price and number of units
issuable upon exercise of the option may be adjusted in certain circumstances including in the event of a share capitalizations,
or our recapitalization, reorganization, merger or consolidation. However, the option will not be adjusted for issuances of ordinary
shares at a price below its exercise price.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Listing of our Securities</P>

<P STYLE="font: bold 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">There is presently no public market
for our units, ordinary shares, warrants or rights. We have applied to have the units, and the ordinary shares, warrants and rights
once they begin separate trading, listed on Nasdaq under the symbols &ldquo;CMSSU,&rdquo; &ldquo;CMSS,&rdquo; &ldquo;CMSSW,&rdquo;
&ldquo;CMSSR,&rdquo; respectively. Although, after giving effect to this offering, we meet on a pro forma basis the minimum initial
listing standards of Nasdaq, which generally only requires that we meet certain requirements relating to shareholders&rsquo; equity,
market capitalization, aggregate market value of publicly held shares and distribution requirements, we cannot assure you that
our securities will continue to be listed on Nasdaq as we might not meet certain continued listing standards.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pricing of Securities</P>

<P STYLE="font: bold 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">We have been advised by the representative
that the underwriters propose to offer the units to the public at the offering price set forth on the cover page of this prospectus.</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">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 warrants and rights were
negotiated between us and the representative. Factors considered in determining the prices and terms of the units, including the
ordinary shares and warrants and rights underlying the units, include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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">&#9679;</TD><TD STYLE="text-align: justify">the history and prospects
                                         of companies whose principal business is the acquisition of other companies;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">prior offerings of
                                         those companies;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">our prospects for
                                         acquiring an operating business at attractive values;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">our capital structure;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">the per share amount
                                         of net proceeds being placed into the trust account;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">an assessment of our
                                         management and their experience in identifying operating companies;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">general conditions
                                         of the securities markets at the time of the offering; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">other factors as were
                                         deemed relevant.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">However, although these factors were considered,
the determination of our offering price is more arbitrary than the pricing of securities for an operating company in a particular
industry since the underwriters are unable to compare our financial results and prospects with those of public companies operating
in the same industry.</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>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Regulatory Restrictions on Purchase
of Securities</P>

<P STYLE="font: bold 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">Rules of the SEC may limit the ability
of the underwriters to bid for or purchase our units before the distribution of the units is completed. However, the underwriters
may engage in the following activities in accordance with the rules:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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">&#9679;</TD><TD STYLE="text-align: justify">Stabilizing Transactions.
                                         The underwriters may make bids or purchases for the purpose of preventing or retarding
                                         a decline in the price of our units, as long as stabilizing bids do not exceed the offering
                                         price of $10.00 and the underwriters comply with all other applicable rules.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">Over-Allotments and
                                         Syndicate Coverage Transactions. The underwriters may create a short position in our
                                         units by selling more of our units than are set forth on the cover page of this prospectus
                                         up to the amount of the over-allotment option. This is known as a covered short position.
                                         The underwriters may also create a short position in our units by selling more of our
                                         units than are set forth on the cover page of this prospectus and the units allowed by
                                         the over-allotment option. This is known as a naked short position. If the underwriters
                                         create a short position during the offering, the representative may engage in syndicate
                                         covering transactions by purchasing our units in the open market. The representative
                                         may also elect to reduce any short position by exercising all or part of the over-allotment
                                         option. Determining what method to use in reducing the short position depends on how
                                         the units trade in the aftermarket following the offering. If the unit price drops following
                                         the offering, the short position is usually covered with shares purchased by the underwriters
                                         in the aftermarket. However, the underwriters may cover a short position by exercising
                                         the over-allotment option even if the unit price drops following the offering. If the
                                         unit price rises after the offering, then the over-allotment option is used to cover
                                         the short position. If the short position is more than the over-allotment option, the
                                         naked short must be covered by purchases in the aftermarket, which could be at prices
                                         above the offering price.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">Penalty Bids. The
                                         representative may reclaim a selling concession from a syndicate member when the units
                                         originally sold by the syndicate member are purchased in a stabilizing or syndicate covering
                                         transaction to cover syndicate short positions.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Stabilization and syndicate covering transactions
may cause the price of our securities to be higher than they would be in the absence of these transactions. The imposition of
a penalty bid might also have an effect on the prices of our securities if it discourages resales of our securities.</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">Neither we nor the underwriters make any
representation or prediction as to the effect that the transactions described above may have on the price of our securities. These
transactions may occur on Nasdaq, in the over-the-counter market or on any trading market. If any of these transactions are commenced,
they may be discontinued without notice at any time.</P>

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

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

<P STYLE="font: bold 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>

<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">We are obligated to reimburse the underwriters for (i) filing
fees, costs and expenses (including fees and disbursements of underwriters&rsquo; counsel not to exceed $15,000) incurred in registering
the offering with FINRA; (ii) preparation of transaction &ldquo;bibles&rdquo; and lucite cube &ldquo;mementos&rdquo; (with expenses
not to exceed $3,000 for such transaction &ldquo;bibles&rdquo; and lucite cube &ldquo;mementos&rdquo;); and (iii) the costs of
an investigative search firm to conduct background checks on our principals, up to a maximum of $ 35,000 in the aggregate. We
have paid EarlyBirdCapital $25,000 as an advance against its actual out-of-pocket expenses. To the extent that the out-of-pocket
expenses are less than this advance, EarlyBirdCapital will refund the excess to us.</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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Except as set forth above, 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, among other things, introduce us to potential target businesses
or assist us in raising additional capital, as needs may arise in the future. If any underwriter provides services to us after
this offering, we may pay the 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 the underwriter and no fees for such services will be paid to
the underwriter prior to the date which is 90 days after the date of this prospectus, unless FINRA determines that such payment
would not be deemed underwriter&rsquo;s compensation in connection with this offering.</P>

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

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

<P STYLE="font: bold 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">We have agreed to indemnify the underwriters
against some liabilities, including civil liabilities under the Securities Act, or to contribute to payments the underwriters
may be required to make in this respect.</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>

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

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

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

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

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

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

<P STYLE="font: italic bold 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">We intend to distribute our securities
in the Province of Ontario, Canada (the &ldquo;Canadian Offering Jurisdiction&rdquo;) by way of a private placement and exempt
from the requirement that we prepare and file a prospectus with the securities regulatory authorities in such Canadian Offering
Jurisdiction. Any resale of our securities in Canada must be made under applicable securities laws that will vary depending on
the relevant jurisdiction, and which may require resales to be made under available statutory exemptions or under a discretionary
exemption granted by the applicable Canadian securities regulatory authority. Canadian resale restrictions in some circumstances
may apply to resales of interests made outside of Canada. Canadian purchasers are advised to seek legal advice prior to any resale
of our securities. We may never be a &ldquo;reporting issuer&rdquo;, as such term is defined under applicable Canadian securities
legislation, in any province or territory of Canada in which our securities will be offered and there currently is no public market
for any of the securities in Canada, and one may never develop. Canadian investors are advised that we have no intention to file
a prospectus or similar document with any securities regulatory authority in Canada qualifying the resale of the securities to
the public in any province or territory in Canada.</P>

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

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

<P STYLE="font: italic bold 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">A Canadian purchaser will be required
to represent to us and the dealer from whom the purchase confirmation is received that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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">&#9679;</TD><TD STYLE="text-align: justify">the purchaser is entitled
                                         under applicable provincial securities laws to purchase our securities without the benefit
                                         of a prospectus qualified under those securities laws;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">where required by
                                         law, that the purchaser is purchasing as principal and not as agent;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">the purchaser has
                                         reviewed the text above under Resale Restrictions; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">the purchaser acknowledges
                                         and consents to the provision of specified information concerning its purchase of our
                                         securities to the regulatory authority that by law is entitled to collect the information.</TD></TR></TABLE>

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

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Rights
of Action &mdash; Ontario Purchasers Only</P>

<P STYLE="font: italic bold 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">Under Ontario securities legislation,
certain purchasers who purchase a security offered by this prospectus during the period of distribution will have a statutory
right of action for damages, or while still the owner of our securities, for rescission against us in the event that this prospectus
contains a misrepresentation without regard to whether the purchaser relied on the misrepresentation. The right of action for
damages is exercisable not later than the earlier of 180 days from the date the purchaser first had knowledge of the facts giving
rise to the cause of action and three years from the date on which payment is made for our securities. The right of action for
rescission is exercisable not later than 180 days from the date on which payment is made for our securities. If a purchaser elects
to exercise the right of action for rescission, the purchaser will have no right of action for damages against us. In no case
will the amount recoverable in any action exceed the price at which our securities were offered to the purchaser and if the purchaser
is shown to have purchased the securities with knowledge of the misrepresentation, we will have no liability. In the case of an
action for damages, we will not be liable for all or any portion of the damages that are proven to not represent the depreciation
in value of our securities as a result of the misrepresentation relied upon. These rights are in addition to, and without derogation
from, any other rights or remedies available at law to an Ontario purchaser. The foregoing is a summary of the rights available
to an Ontario purchaser. Ontario purchasers should refer to the complete text of the relevant statutory provisions.</P>

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

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

<P STYLE="font: italic bold 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">All of our directors and officers as well
as the experts named herein are located outside of Canada and, as a result, it may not be possible for Canadian purchasers to
effect service of process within Canada upon us or those persons. All of our assets and the assets of those persons are located
outside of Canada and, as a result, it may not be possible to satisfy a judgment against us or those persons in Canada or to enforce
a judgment obtained in Canadian courts against us or those persons outside of Canada.</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>

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

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

<P STYLE="font: italic bold 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">If a Canadian purchaser is resident in
or otherwise subject to the securities laws of the Province of Ontario, the Purchaser authorizes the indirect collection of personal
information pertaining to the Canadian purchaser by the Ontario Securities Commission (the &ldquo;OSC&rdquo;) and each Canadian
purchaser will be required to acknowledge and agree that the Canadian purchaser has been notified by us (i) of the delivery to
the OSC of personal information pertaining to the Canadian purchaser, including, without limitation, the full name, residential
address and telephone number of the Canadian purchaser, the number and type of securities purchased and the total purchase price
paid in respect of the securities, (ii) that this information is being collected indirectly by the OSC under the authority granted
to it in securities legislation, (iii) that this information is being collected for the purposes of the administration and enforcement
of the securities legislation of Ontario, and (iv) that the title, business address and business telephone number of the public
official in Ontario who can answer questions about the OSC&rsquo;s indirect collection of the information is the Administrative
Assistant to the Director of Corporate Finance, the Ontario Securities Commission, Suite 1903, Box 5520, Queen Street West, Toronto,
Ontario, M5H 3S8, Telephone: (416) 593-8086, Facsimile: (416) 593-8252.</P>

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

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

<P STYLE="font: italic bold 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">No offer or invitation to subscribe for
shares may be made to the public in the Cayman Islands.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a018_v1"></A>LEGAL MATTERS</P>

<P STYLE="font: bold 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"> </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Loeb &amp; Loeb LLP, is acting as United
States counsel in connection with the registration of our securities under the Securities Act and will pass on the validity of
the warrants and rights offered in the prospectus. Legal matters as to Cayman Islands&rsquo; law, as well as the validity of the
issuance of the ordinary shares offered in this prospectus, will be passed upon for us by Maples and Calder, Cayman Islands. Graubard
Miller is acting as counsel for the underwriters in this offering.</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">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a019_v1"></A>EXPERTS</P>

<P STYLE="font: bold 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">The financial statements of CM Seven Star
Acquisition Corporation as of July 17, 2017 and for the period from November 28, 2016 (inception) through July 17, 2017 appearing
in this prospectus have been audited by UHY LLP, 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 CM Seven Star Acquisition
Corporation 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 on such report given on the authority of such firm as an experts in auditing and accounting.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="a020_v1"></A>WHERE YOU CAN
FIND ADDITIONAL INFORMATION</P>

<P STYLE="font: bold 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">We have filed with the SEC a registration
statement on Form S-1, which includes exhibits, schedules and amendments, under the Securities Act, with respect to this offering
of our securities. Although this prospectus, which forms a part of the registration statement, contains all material information
included in the registration statement, parts of the registration statement have been omitted as permitted by rules and regulations
of the SEC. We refer you to the registration statement and its exhibits for further information about us, our securities and this
offering. The registration statement and its exhibits, as well as our other reports filed with the SEC, can be inspected and copied
at the SEC&rsquo;s public reference room at 100 F Street, N.E., Washington, D.C. 20549. The public may obtain information about
the operation of the public reference room by calling the SEC at 1-800-SEC-0330. In addition, the SEC maintains a web site at
http://www.sec.gov which contains the Form S-1 and other reports, proxy and information statements and information regarding issuers
that file electronically with the SEC.</P>

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


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CM Seven Star Acquisition Corporation</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"><A NAME="a021_v1"></A><B>INDEX TO FINANCIAL
STATEMENTS</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="3" STYLE="border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Page</B>&nbsp;</P>



















</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="font-size: 11pt"><A HREF="#b001_v1"><FONT STYLE="font-size: 10pt">Report of Independent Registered Public Accounting
    Firm</FONT></A></TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="3" STYLE="font-size: 11pt"><A HREF="#b001_v1"><FONT STYLE="font-size: 10pt">F-2</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 95%; font-size: 11pt"><FONT STYLE="font-size: 10pt">Financial Statements: </FONT></TD>
    <TD STYLE="width: 2%; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 11pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="font-size: 11pt"><A HREF="#b002_v1"><FONT STYLE="font-size: 10pt">Balance Sheet</FONT></A></TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="3" STYLE="font-size: 11pt"><A HREF="#b002_v1"><FONT STYLE="font-size: 10pt">F-3</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 11pt"><A HREF="#b003_v1"><FONT STYLE="font-size: 10pt">Statement of Operations </FONT></A></TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="3" STYLE="font-size: 11pt"><A HREF="#b003_v1"><FONT STYLE="font-size: 10pt">F-4</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="font-size: 11pt"><A HREF="#b004_v1"><FONT STYLE="font-size: 10pt">Statement of Changes in Shareholders&rsquo; Equity</FONT></A></TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="3" STYLE="font-size: 11pt"><A HREF="#b004_v1"><FONT STYLE="font-size: 10pt">F-5</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 11pt"><A HREF="#b005_v1"><FONT STYLE="font-size: 10pt">Statement of Cash Flows</FONT></A></TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="3" STYLE="font-size: 11pt"><A HREF="#b005_v1"><FONT STYLE="font-size: 10pt">F-6</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="font-size: 11pt"><A HREF="#b006_v1"><FONT STYLE="font-size: 10pt">Notes to Financial Statements</FONT></A></TD>
    <TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="3" STYLE="font-size: 11pt"><A HREF="#b006_v1"><FONT STYLE="font-size: 10pt">F-7</FONT></A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt 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 NAME="b001_v1"></A><B>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 the Board of Directors and&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Shareholders of CM Seven Star Acquisition Corporation</P>

<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-right: 0; margin-bottom: 0pt; text-align: justify">We
have audited the accompanying balance sheet of CM Seven Star Acquisition Corporation (the &ldquo;Company&rdquo;) as of July 17,
2017, and the related statement of operations, statement of changes in shareholders&rsquo; equity, and cash flows for the period
from November 28, 2016 to July 17, 2017. The Company&rsquo;s management is responsible for these financial statements. Our responsibility
is to express an opinion on these financial statements based on our audits.</P>

<P STYLE="font: 10pt Times 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 Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform
the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The company
is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audit
included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate
in the circumstances, 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. An audit also includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates
made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide 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">In our opinion, the financial statements
referred to above present fairly, in all material respects, the financial position of CM Seven Star Acquisition Corporation as
of July 17, 2017, and the results of its operations and its cash flows for the period from November 28, 2016 to July 17, 2017
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">The accompanying financial statements
have been prepared assuming the Company will continue as a going concern. As discussed in Note 1 to the financial statements,
the Company has no present revenue, its business plan is dependent on the completion of a financing transaction and the Company&rsquo;s
cash and working capital as of July 17, 2017 are not sufficient to complete its planned activities for the upcoming year. These
conditions raise substantial doubt about the Company&rsquo;s ability to continue as a going concern. Management&rsquo;s plans
regarding these matters are also described in Notes 1 and Note 3. 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">/s/ UHY LLP</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">August 11, 2017, except for Note 1, Note 3, Note 5 and Note
7, as to which the date is September 29, 2017</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; text-align: center">&nbsp;</P>

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

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<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>CM SEVEN STAR ACQUISITION CORPORATION</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="b002_v1"></A><B>BALANCE SHEET</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>July 17, 2017</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&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: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">ASSETS</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 87%; text-indent: -6pt; padding-left: 15pt">&nbsp;Cash</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">225,048</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -6pt; padding-left: 15pt">&nbsp;Prepaid expense associated with proposed public
    offering</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">75,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -6pt; padding-left: 15pt">&nbsp;Deferred offering costs</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">25,494</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt; text-indent: -15pt; padding-left: 15pt">TOTAL ASSETS</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">325,542</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; text-indent: -15pt; padding-left: 15pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -15pt; padding-left: 15pt">LIABILITIES AND SHAREHOLDERS&rsquo;&nbsp;EQUITY</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -1.5pt; padding-left: 15pt">Current liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -4.5pt; padding-left: 27pt">Accounts payable and accrued expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">12,914</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -4.5pt; padding-left: 27pt">Advance from sponsor</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">300,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -1.5pt; padding-left: 15pt">Total Liabilities</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">312,914</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -15pt; padding-left: 15pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-indent: -15pt; padding-left: 15pt">Commitments</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -15pt; padding-left: 15pt">Shareholders&rsquo; Equity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 22.5pt">Preferred shares, $0.0001 par value; 2,000,000 shares
    authorized; none issued and outstanding</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -9pt; padding-left: 22.5pt">Ordinary shares, $0.0001 par value, 200,000,000 shares authorized, 4,312,500
    shares issued and outstanding</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">431</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -1.5pt; padding-left: 15pt">Additional paid-in capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">24,569</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -1.5pt; padding-left: 15pt">Accumulated deficit</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(12,372</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -1.5pt; padding-left: 15pt">Total Shareholders&rsquo;
    Equity</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">12,628</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt; text-indent: -15pt; padding-left: 15pt">TOTAL LIABILITIES
    AND SHAREHOLDERS&rsquo;&nbsp;EQUITY</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">325,542</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; 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 financial statements.</P>

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

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

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    <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: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="b003_v1"></A><B>STATEMENT OF OPERATIONS</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 1in"><B>For the period from
November 28, 2016 through July 17, 2017</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 1in">&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: rgb(204,238,255)">
    <TD STYLE="width: 87%; text-align: left; padding-bottom: 1pt; padding-left: 0.125in">Formation and operating costs</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">12,372</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Net Loss</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(12,372</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">Weighted average shares outstanding, basic and diluted</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">97,403</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Basic and diluted net loss per ordinary share</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(0.13</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; 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; 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; text-align: center"></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"></P>

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    <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: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CM SEVEN STAR ACQUISITION CORPORATION</B></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; text-align: center"><A NAME="b004_v1"></A><B>STATEMENT OF CHANGES
IN SHAREHOLDERS&rsquo; EQUITY</B></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; text-align: center"><B>For the period from November 28, 2016
through July 17, 2017</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&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>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Additional</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Total</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Ordinary Shares</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Paid-in</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Accumulated</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Shareholders&rsquo;</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Shares</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Par Value</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Capital</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Deficit</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Equity</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 35%; text-align: left; padding-left: 0.25in; text-indent: -0.125in">Issuance of ordinary shares to director
    upon formation</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">1</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">&mdash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">&mdash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">&mdash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">&mdash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.375in; text-indent: -0.25in">Cancellation of ordinary shares to director</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.25in; text-indent: -0.125in">Issuance of ordinary shares to Initial Shareholders</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,312,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">431</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">24,569</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 0.25in; text-indent: -0.125in">Net loss</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(12,372</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(12,372</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt">Balance as of July 17, 2017</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">4,312,500</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">431</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">24,569</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(12,372</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">12,628</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; 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 financial statements.</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"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<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; text-align: center">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><A NAME="b005_v1"></A><B>STATEMENT OF CASH
FLOWS</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>For the Period from November 28, 2016
through July 17, 2017</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&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: rgb(204,238,255)">
    <TD STYLE="font-weight: bold">Cash Flows from Operating Activities:</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 87%; text-align: left; text-indent: -15pt; padding-left: 15pt">Net loss</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(12,372</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -1.5pt; padding-left: 15pt">Adjustments to reconcile net loss to net cash used in
    operating activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: 3pt; padding-left: 15pt">Formation costs paid by related party</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,502</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: 3pt; padding-left: 15pt">Changes in operating assets and liabilities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: 7.5pt; padding-left: 15pt">Accounts payable</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,420</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: 12pt; padding-left: 15pt">Net cash used in operating activities</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">(450</TD><TD STYLE="font-weight: bold; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -15pt; padding-left: 15pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -15pt; padding-left: 15pt">Cash Flows from Financing Activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -15pt; padding-left: 15pt">Proceeds from sale of ordinary shares to initial shareholders</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -15pt; padding-left: 15pt">Proceeds from sponsor loan</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">300,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -15pt; padding-left: 15pt">Repayment of advances from related party</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(84,502</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -15pt; padding-left: 15pt">Payments of deferred offering costs</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(15,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: 12pt; padding-left: 15pt">Net cash provided by financing activities</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">225,498</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -15pt; padding-left: 15pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -15pt; padding-left: 15pt">Net Change in Cash</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">225,048</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -15pt; padding-left: 15pt">Cash &ndash; Beginning</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt; text-indent: -15pt; padding-left: 15pt">Cash &ndash; Ending</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">225,048</TD><TD STYLE="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -15pt; padding-left: 15pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -15pt; padding-left: 15pt">Supplemental Disclosure of Non-cash
    Financing Activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; text-indent: -15pt; padding-left: 15pt">Payments of prepaid expense associated
    with proposed public offering made by related party</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">75,000</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; text-indent: -15pt; padding-left: 15pt">Increase in accrued expenses for
    deferred offering costs</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">10,494</TD><TD STYLE="padding-bottom: 2.5pt; 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 financial statements.</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; text-align: justify">&nbsp;</P>

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

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<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"><A NAME="b006_v1"></A><B>Note 1 &mdash;
Organization and Business Operations </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: justify">CM Seven Star Acquisition Corporation
(the &ldquo;Company&rdquo;) is a newly incorporated blank check company incorporated on November 28, 2016, under the laws of the
Cayman Islands for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization,
reorganization or other similar business combination with one or more businesses or entities (a &ldquo;Business Combination&rdquo;).
The Company&rsquo;s efforts to identify a prospective target business will not be limited to a particular industry or geographic
location.</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">As of July 17, 2017, the Company had not
yet commenced any operations. All activity through July 17, 2017 relates to the Company&rsquo;s formation and the Proposed Public
Offering (as defined below). The Company has selected December 31 as its fiscal year end.</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">The Company&rsquo;s ability to commence
operations is contingent upon obtaining adequate financial resources through a proposed public offering of 15,000,000 units at
$10.00 per unit (&ldquo;Units&rdquo;) (or 17,250,000 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 412,500 units (or up to 457,500 units
if the underwriters&rsquo; over-allotment option is exercised in full) (the &ldquo;Private Units&rdquo;) at a price of $10.00
per Unit in a private placement to the Company&rsquo;s sponsor, that will close simultaneously with the Proposed Public Offering.
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 Units, although substantially all of the net proceeds are intended to be generally applied toward
consummating a 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">The Company&rsquo;s Business Combination
must be with one or more target businesses that together have a fair market value equal to at least 80% of the balance in the
Trust Account (as defined below) (net of taxes payable) at the time of the signing an agreement to enter into a 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.</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">There is no assurance that the Company
will be able to successfully effect a Business Combination. Upon the closing of the Proposed Public Offering, management has agreed
at least $10.00 per Unit sold in the Proposed Public Offering and the proceeds from the sale of the Private Units will be held
in a trust account (&ldquo;Trust Account&rdquo;) and invested in U.S. government securities, within the meaning set forth in Section
2(a)(16) of the Investment Company Act, with a maturity of 180 days or less or in any open-ended investment company that holds
itself out as a money market fund meeting the conditions of Rule 2a-7 of the Investment Company Act, as determined by the Company,
until the earlier of: (i) the consummation of a Business Combination or (ii) the distribution of the Trust Account as described
below, except that interest earned on the Trust Account can be released to pay the Company&rsquo;s tax obligations.</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">The Company will provide its shareholders
with the opportunity to redeem all or a portion of their shares included in the Units sold in the Proposed Public Offering (the
&ldquo;Public Shares&rdquo;) upon the completion of a Business Combination either (i) in connection with a shareholder meeting
called to approve the Business Combination or (ii) by means of a tender offer. The decision as to whether the Company will seek
shareholder approval of a Business Combination or conduct a tender offer will be made by the Company, solely in its discretion.
The shareholders will be entitled to redeem their shares for a pro rata portion of the amount then on deposit in the Trust Account
(initially approximately $10.00 per share, plus any pro rata interest earned on the funds held in the Trust Account and not previously
released to the Company to pay its tax obligations).</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">&nbsp;</P>

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

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    <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: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Note 1 &mdash; Organization and Business
Operations </B>(cont.)</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">The warrants (excluding the warrants
contained in the Private Units, as defined in Note 7) can be redeemed i) at any time while the warrants are exercisable; ii) upon
a minimum of 30 days prior written notice of redemption; iii) if, and only if, the reported last sale price of the ordinary shares
equals or exceeds $18.00 per share, for any 20 trading days within a 30 trading day period ending on the third business day prior
to the notice of redemption to warrant holders and iv) if, and only if, there is a current registration statement in effect with
respect to the ordinary shares underlying such warrants at the time of redemption and for the entire 30-day trading period referred
to above and continuing each day thereafter until the date of redemption. As long as the Private Warrants are still held by the
initial purchaser or their affiliates, the Company will not redeem such warrants and allow the holders to exercise such warrants
on a cashless basis even if a registration statement covering the ordinary shares issuable upon exercise of such warrants is not
effective.</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">Each holder of a right will
automatically receive one-tenth (1/10) of an ordinary share upon consummation of the initial Business Combination, even if
the holder of a Public Right (as defined in Note 3) converted all ordinary shares held by him, her or it in connection with
the initial Business Combination or an amendment to the Company&rsquo;s certificate of incorporation with respect to its pre-business combination activities. In the event that the Company
will not be the surviving company upon completion of the 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-tenth (1/10) of a share underlying each
right upon consummation of the Business Combination.</P>



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

<P STYLE="margin: 0pt 0">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. Additionally, in no event will the
Company be required to net cash settle the rights. Accordingly, the rights may expire worthless.</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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The ordinary shares subject to
redemption will be recorded at a redemption value and classified as temporary equity upon the completion of the Proposed
Public Offering, in accordance with Accounting Standards Codification (&ldquo;ASC&rdquo;) Topic 480 &ldquo;Distinguishing
Liabilities from Equity.&rdquo; In such case, the Company will proceed with a Business Combination if the Company has net
tangible assets of at least $5,000,001 upon such consummation of a Business Combination and a majority of the issued and
outstanding shares voted are voted in favor of the Business Combination. If a shareholder vote is not required by law and the
Company does not decide to hold a shareholder vote for business or other legal reasons, the Company will, pursuant to its
Amended and Restated Certificate of Incorporation, conduct the redemptions pursuant to
the tender offer rules of the Securities and Exchange Commission (&ldquo;SEC&rdquo;), and file tender offer documents with
the SEC prior to completing a Business Combination. If, however, a shareholder approval of the transaction is required by
law, or the Company decides to obtain shareholder approval for business or other legal reasons, the Company will offer to
redeem shares in conjunction with a proxy solicitation pursuant to the proxy rules and not pursuant to the tender offer
rules. If the Company seeks shareholder approval in connection with a Business Combination, the Initial Shareholders have
agreed to vote their initial shares and private shares, as well as any public shares acquired in or after this offering, in
favor of any proposed business combination. Additionally, each public shareholder may elect to redeem their Public Shares
irrespective of whether they vote for or against the proposed transaction.</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">The Company will have 15 months from
the closing of the Proposed Public Offering to consummate a Business Combination (the &ldquo;Combination Period&rdquo;). If the
Company is unable to complete a Business Combination within the Combination Period, it will trigger the automatic winding up,
dissolution and liquidation pursuant to the terms of the amended and restated memorandum and articles of association. However,
if the Company anticipates that it may not be able to consummate a Business Combination within 15 months, the Company may, but
is not obligated to, extend the period of time to consummate a Business Combination by an additional three months (for a total
of up to 18 months to complete a Business Combination). 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, LLC on
the date of this prospectus, in order to extend the time available for the Company to consummate a Business Combination, the Company&rsquo;s
insiders or their affiliates or designees, upon five days advance notice prior to the applicable deadline, must deposit into the
trust account $1,500,000, or $1,725,000 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. The insiders will receive a non-interest bearing, unsecured
promissory note equal to the amount of any such deposit that will not be repaid in the event that the Company is unable to close
a Business Combination unless there are funds available outside the trust account to do so. Such notes would either be paid upon
consummation of our initial Business Combination, or, at the lender&rsquo;s discretion, converted upon consummation of our Business
Combination into additional private units at a price of $10.00 per unit. The Company&rsquo;s stockholders have approved the issuance
of the private units upon conversion of such notes, to the extent the holder wishes to so convert such notes at the time of the
consummation of a Business Combination. In the event that the Company receives notice from its insiders five days prior to the
applicable deadline of their intent to effect an extension, the Company intends to issue a press release announcing such intention
at least three days prior to the applicable deadline. In addition, the Company intends to issue a press release the day after
the applicable deadline announcing whether or not the funds had been timely deposited. The Company&rsquo;s insiders and their
affiliates or designees are not obligated to fund the trust account to extend the time for the Company to complete its initial
Business Combination. To the extent that some, but not all, of the Company&rsquo;s insiders, decide to extend the period of time
to consummate its initial Business Combinations, such insiders (or their affiliates or designees) may deposit the entire amount
required.</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">The amount in the Trust Account (less the aggregate
nominal par value of the shares of the Company&rsquo;s public shareholders) under the Companies Law will be treated as share premium
which is distributable under the Companies Law provided that immediately following the date on which the proposed distribution
is proposed to be made, the Company is able to pay the debts as they fall due in the ordinary course of business. If the Company
is forced to liquidate the Trust Account, the public shareholders would be distributed the amount in the Trust Account calculated
as of the date that is two days prior to the distribution date (including any accrued interest).</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">The Initial Shareholders have
agreed to (i) waive their conversion rights with respect to their initial share and Public Shares in connection with the
consummation of a Business Combination, (ii) to waive their rights to liquidating distributions from the Trust Account with
respect to their initial shares if the Company fails to consummate a Business Combination within the Combination Period and
(iii) not to propose an amendment to the Company&rsquo;s Amended and Restated Certificate of Incorporation would affect the substance or timing of the Company&rsquo;s obligation to redeem 100% of its
Public Shares if the Company does not complete a Business Combination, unless the Company provides the public shareholders
with the opportunity to redeem their shares in conjunction with any such amendment.</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">However, the holders of the initial shares
will not participate in any liquidation distribution with respect to such securities. In the event of such distribution, it is
possible that the per share value of the residual assets remaining available for distribution (including Trust Account assets)
will be less than the $10.00 per Unit in the Proposed Public Offering. In order to protect the amounts held in the Trust Account,
an affiliate of the sponsor will contractually agree, pursuant to a written agreement to the Company, that if the Company liquidates
the Trust Account prior to the consummation of a business combination, it will be liable to ensure that the proceeds in the Trust
Account are not reduced by the claims of target businesses or claims of vendors or other entities that are owed money by the Company
for services rendered or contracted for or products sold to the Company. This liability will not apply with respect to any claims
by a third party who executed a waiver of any right, title, interest or claim of any kind in or to any monies held in the Trust
Account. Moreover, in the event that an executed waiver is deemed to be unenforceable against a third party, the affiliate of
the sponsor will not be responsible to the extent of any liability for such third party claims. The Company will seek to reduce
the possibility that the affiliate of the sponsor will have to indemnify the Trust Account due to claims of creditors by endeavoring
to have all vendors, service providers (other than the Company&rsquo;s independent auditors), prospective target businesses or
other entities with which the Company does business, execute agreements with the Company 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; text-align: justify">&nbsp;</P>

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

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<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>Note 1 &mdash; Organization and Business
Operations </B>(cont.)</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">The Company will pay the costs of liquidating
the trust account from the remaining assets outside of the trust account. If such funds are insufficient, an affiliate of the
sponsor will contractually agree to advance the Company the funds necessary to complete such liquidation (currently anticipated
to be no more than approximately $18,500) and will contractually agree not to seek repayment for such expenses.</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"><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">At July 17, 2017, the Company had $225,048
in cash and working capital deficit&nbsp;of $87,866. 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 Offering as discussed in Note
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; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Note 2 &mdash; Significant Accounting
Policies</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"><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 States of America (&ldquo;GAAP&rdquo;)
and pursuant to the rules and regulations of the SEC.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Emerging Growth Company Status</P>

<P STYLE="font: bold 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">The Company is an &ldquo;emerging growth
company,&rdquo; as defined in Section 2(a) of the Securities Act of 1933, as amended, (the &ldquo;Securities Act&rdquo;), 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 404 of the Sarbanes-Oxley
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; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Further, Section 102(b)(1) 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 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; text-align: justify">&nbsp;</P>

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

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<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>Note 2 &mdash; Significant Accounting
Policies </B>(cont.)</P>

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


<P STYLE="margin: 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; text-align: justify">&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; text-align: justify">&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; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company considers all short-term investments
with an original maturity of three months or less when purchased to be cash equivalents. The Company did not have any cash equivalents
as of July 17, 2017.</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"><B>Deferred Offering Costs</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: justify">Deferred offering costs consist of underwriting,
legal, accounting and other expenses incurred through the balance sheet date that are directly related to the Proposed Public
Offering and that will be charged to shareholders&rsquo; equity upon the completion of the Proposed Public Offering. 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.</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"><B>Net Loss Per Common Share</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: justify">The Company complies with accounting and
disclosure requirements ASC Topic 260, &ldquo;Earnings Per Share.&rdquo; Net loss per common share is computed by dividing net
loss by the weighted average number of common shares issued and outstanding for the period, excluding ordinary shares subject
to forfeiture. Weighted average shares were reduced for the effect of an aggregate of 562,500 ordinary shares that are subject
to forfeiture by the Company if the over-allotment option is not exercised by the underwriters (see Note 7). At July 17, 2017,
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 (loss) of the Company. As a result, diluted loss per common share is the same as basic loss
per common share for the periods.</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="text-indent: -0.125in; padding-left: 0.125in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center"></TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"><B>&nbsp;</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><B>For the period from November 28, 2016 (Date
    of Inception) to July 17, 2017</B></TD><TD STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; background-color: White">&nbsp;</TD><TD STYLE="background-color: White">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="background-color: White">&nbsp;</TD><TD STYLE="background-color: White">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 85%; font-weight: bold; text-indent: -0.125in; padding-left: 0.125in">Numerator:</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">(12,372</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.25in">Net loss</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="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">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-indent: -0.125in; padding-left: 0.125in">Denominator:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.25in">Denominator for basic earnings per share &ndash; Weighted-average
    ordinary shares issued and outstanding during the period</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">97,403</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.25in">Denominator for diluted earnings
    per share</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">97,403</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in">Basic loss per share</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(0.13</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; text-indent: -0.125in; padding-left: 0.125in">Diluted loss per share</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(0.13</TD><TD STYLE="padding-bottom: 2.5pt; 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>

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<P STYLE="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 2 &mdash; Significant Accounting
Policies </B>(cont.)</P>

<P STYLE="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>Concentration of Credit 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">Financial instruments that potentially
subject the Company to concentration of credit risk consist of cash accounts in a financial institution. <FONT STYLE="background-color: white">To
limit exposure to credit risk relating to deposits, the Company primarily places cash deposits only with large financial institutions
with acceptable credit ratings in Hong Kong, People&rsquo;s Republic of China</FONT>. At July 17, 2017, the Company had not experienced
losses on this account and management believes the Company is not exposed to significant risks on such account.</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"><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 ASC Topic 820, &ldquo;Fair Value Measurements and Disclosures,&rdquo;
approximates the carrying amounts represented in the accompanying balance sheet, primarily due to their 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"><B>Income Taxes</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: justify">The Company accounts for income taxes
under ASC 740 Income Taxes (&ldquo;ASC 740&rdquo;). ASC 740 requires the recognition of deferred tax assets and liabilities for
both the expected impact of differences between the financial statement and tax basis of assets and liabilities and for the expected
future tax benefit to be derived from tax loss and tax credit carry forwards. ASC 740 additionally requires a valuation allowance
to be established when it is more likely than not that all or a portion of deferred tax assets will not be realized.</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">ASC 740 also clarifies the accounting
for uncertainty in income taxes recognized in an enterprise&rsquo;s financial statements and prescribes a recognition threshold
and measurement process for financial statement recognition and measurement of a tax position 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. ASC 740 also provides guidance on derecognition, classification, interest and penalties, accounting in
interim period, disclosure and transition. The Company has identified the Cayman Islands as its only &ldquo;major&rdquo; tax jurisdiction,
as defined. Based on the Company&rsquo;s evaluation, it has been concluded that there are no significant uncertain tax positions
requiring recognition in the Company&rsquo;s financial statements. Since the Company was incorporated on November 28, 2016, the
evaluation was performed for upcoming 2017 tax year which will be the only period subject to examination. The Company believes
that its income tax positions and deductions would be sustained on audit and does not anticipate any adjustments that would result
in a material changes to its financial position. The Company&rsquo;s policy for recording interest and penalties associated with
audits is to record such items as a component of income tax expense.</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">The provision for income taxes was deemed
to be immaterial for the period from formation through July 17, 2017.</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"><B>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 August 11, 2017, the date that the financial statements were
available to be issued. Based upon this review, the Company did not identify any subsequent events that would have required adjustment
or disclosure in the financial statements.</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"><B>Recent Accounting Pronouncements</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: justify">Management does not believe that any recently
issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company&rsquo;s financial
statements.</P>

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


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    <!-- 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; text-align: justify"><B>Note 3 &mdash; Proposed Public Offering</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: justify"></P>

<P STYLE="margin: 0pt 0">In the Proposed Public Offering, the Company will offer for sale 15,000,000 Units, (or 17,250,000
Units if the underwriters&rsquo; over-allotment option is exercised in full) at a purchase price of $10.00 per Unit. Each Unit
will consist of one ordinary share<FONT STYLE="font: 10pt Times New Roman, Times, Serif">, one-half of one
redeemable warrant (&ldquo;Public Warrant&rdquo;), and one right (&ldquo;Public Right&rdquo;). Every 10 Public Rights
will convert automatically into one share of ordinary shares upon consummation of a Business Combination (see Note 7). Each whole
redeemable warrant entitles the holder to purchase one ordinary share at an exercise price of $11.50 (see Note 7).</FONT></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"></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"><B>Note 4 &mdash; Private Placement </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: justify">The Company&rsquo;s sponsor has committed
to purchase an aggregate of 412,500 Private Units at $10.00 per unit (for a total purchase price of $4,125,000). These purchases
will take place on a private placement basis simultaneously with the consummation of the offering. All of the proceeds the Company
receives will be placed in the Trust Account. The sponsor has also agreed that if the over-allotment option is exercised in full
by the underwriters, it will purchase from the Company at a price of $10.00 per unit, an additional number of units (up to a maximum
of 45,000 units) pro rata with the amount of the over-allotment option exercised so that at least $10.00 per share sold to the
public in this offering is held in trust regardless of whether the over-allotment option is exercised in full or part. These additional
Private Units will be purchased in a private placement that will occur simultaneously with the purchase of units resulting from
the exercise of the over-allotment option. The Private Units are identical to the units sold in the Proposed Public Offering except
the Private Units will be non-redeemable. The purchasers of the Private Units have agreed not to transfer, assign or sell any
of the Private Units or underlying securities (except to the same permitted transferees as the insider shares) until the completion
of the 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">If the Company does not complete a Business
Combination within the Combination Period, the proceeds of the sale of the Private Units will be used to fund the redemption of
the Public Shares (subject to the requirements of applicable law).</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"><B>Note 5 &mdash; Related Party Transactions</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: justify"><B>Insider Shares</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: justify">On July 17, 2017, 4,312,500 shares of
the Company were issued to the shareholders prior to the date of the prospectus (&ldquo;Initial Shareholders&rdquo;) for an aggregate
amount of $25,000. The 4,312,500 Insider Shares include an aggregate of up to 562,500 shares subject to forfeiture to the extent
that the underwriters&rsquo; over-allotment is not exercised in full or in part, so that the Initial Shareholders will own 20%
of the Company&rsquo;s issued and outstanding shares after 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">The Initial Shareholders have agreed not
to transfer, assign or sell any of the Insider Shares (except to certain permitted transferees) until (1) with respect to 50%
of the Insider Shares, the earlier of one year after the date of the consummation of the Business Combination and the date on
which the closing price of the common shares equals or exceeds $12.50 per share (as adjusted for share splits, share capitalizations,
reorganizations and recapitalizations) for any 20 trading days within any 30-trading day period commencing after the Business
Combination and (2) with respect to the remaining 50% of the Insider Shares, one year after the date of the consummation of the
Business Combination, or earlier, in either case, if, subsequent to the Business Combination, the Company consummates a liquidation,
merger, stock exchange or other similar transaction which results in all of the shareholders having the right to exchange their
common shares for cash, securities or other property.</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"><B>Related Party Advances</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: justify">As of July 17, 2017, the sponsor loaned
us aggregate of $300,000 for costs associated with the Proposed Public Offering. On September 1, 2017, our sponsor loaned us an
additional $200,000. The loans are non-interest bearing, unsecured and due on demand. The Company intends to repay the loans from
the proceeds of the Proposed Public Offering not being placed in the Trust Account.</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">For the period from November 28, 2016
through July 17, 2017, an affiliate of the sponsor has advanced to the Company an aggregate of $84,502 in regards to the formation
costs and costs associated with the Proposed Public Offering. Such advances were non-interest bearing. These advances were repaid
by the Company on July 17 2017.</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>

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<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>Note 5 &mdash; Related Party Transactions
</B>(cont.)</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"><B>Related Party 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 order to finance transaction costs
in connection with a Business Combination, the sponsor, the Company&rsquo;s officers and directors, or their respective affiliates
may, but are not obligated to, loan the Company funds from time to time or at any time (&ldquo;Working Capital Loans&rdquo;).
Each Working Capital Loan would be evidenced by a promissory note. The Working Capital Loans would either be paid upon consummation
of a Business Combination, without interest, or, at the holder&rsquo;s discretion, up to $500,000 of the Working Capital Loans
may be converted into Private Units at a price of $10.00 per unit (which, for example, would result in the holders being issued
units to acquire 55,000 ordinary shares and warrants to purchase 25,000 ordinary shares if $500,000 of notes were so converted).
If the Company does not complete the Business Combination, the loans would not be repaid.</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"><B>Note 6 &mdash; Commitments &amp; Contingencies</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"><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 Insider Shares, Private
Units (and their underlying securities), and any Units that may be issued upon conversion of the Working Capital Loans (and their
underlying securities) 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. The holders of a majority of these securities will be entitled to
make up to two demands, excluding short form demands, that the Company register such securities. In addition, the holders will
have certain &ldquo;piggy-back&rdquo; registration rights with respect to registration statements filed subsequent to the completion
of a Business Combination and rights to require the Company to register for resale such securities pursuant to Rule 415 under
the Securities Act. However, the registration rights agreement will provide 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. 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; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Underwriters 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 Company has agreed to grant the underwriters
a 45-day option to purchase up to 2,250,000 additional Units to cover over-allotments at the Proposed Public Offering price, less
the underwriting discounts and commissions.</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">The underwriters will be entitled to a
cash underwriting discount of two percent (2.0%) of the gross proceeds of the Proposed Public Offering, or $3,000,000 (or up to
$3,450,000 if the underwriters&rsquo; over-allotment is exercised in full).</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"><B>Business Combination Marketing 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 Company has engaged EarlyBirdCapital,
Inc. (&ldquo;EBC&rdquo;) as an advisor in connection with a Business Combination to assist the Company in holding meetings with
its shareholders to discuss a potential Business Combination and the target business&rsquo; attributes, introduce the Company
to potential investors that are interested in purchasing securities, assist the Company in obtaining shareholder approval for
the Business Combination and assist the Company with its press releases and public filings in connection with an Business Combination.
The Company will pay EBC a cash fee equal to 3.5% of the gross proceeds raised in the offering for such services upon the consummation
of the Business Combination (exclusive of any applicable finders&rsquo; fees which might become payable), provided that up to
1.0% of the gross proceeds raised in the offering payable to EBC may be allocated at the Company&rsquo;s sole discretion to one
or more advisors that assist in identifying and consummating an Business Combination. The Company will also reimburse EBC for
up to $20,000 of its reasonable costs and expenses incurred by it (including reasonable fees and disbursements of counsel) in
connection with the performance of its services.</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>

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<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>Note 6 &ndash; Commitments &amp; Contingencies
</B>(cont.)</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"><B>Unit Purchase Option</B></P>

<P STYLE="font: 10pt Times 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 sell the underwriter
(and/or its designees), for $100, an option to purchase up to 750,000 Units exercisable at $10.00 per Unit (or an aggregate exercise
price of $7,500,000) commencing on the later of the first anniversary of the effective date of the registration statement related
to the Proposed Public Offering and the consummation of a Business Combination. The unit purchase option may be exercised for
cash or on a cashless basis, at the holder&rsquo;s option, and expires five years from the effective date of the registration
statement related to 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"><B>Note 7 &mdash; Shareholder&rsquo;s
Equity</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: justify"><B><I>Preferred Shares</I></B>&nbsp;-
The Company is authorized to issue a total of 2,000,000 preferred shares of a par value of $0.0001 each. At July 17, 2017, there
were no shares of preferred shares issued or outstanding.</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"><B><I>Ordinary Shares</I></B> - The Company
is authorized to issue a total of 200,000,000 ordinary shares of a par value of US $0.0001 each. As of July 17, 2017, 4,312,500
shares were issued and outstanding, of which 562,500 shares held by the Initial Shareholders are subject to forfeiture to the extent that the underwriters&rsquo;
over-allotment option is not exercised in full or in part, so that the Company&rsquo;s Initial Shareholders will own 20% of the
issued and outstanding shares after 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"><B><I>Warrants</I></B> - Each whole Public
Warrant is at $11.50 per whole share and exercisable for one ordinary share. Because the warrants may only be exercised for whole
numbers of shares, only a whole number of warrants may be exercised at any given time. The warrants will become exercisable on
the later of the completion of a Business Combination and 12 months from the date of the prospectus. If a registration statement
covering the ordinary shares issuable upon exercise of the public warrants is not effective within 90 days following the consummation
of the Business Combination, public warrant holders may, until such time as there is an effective registration statement and during
any period when we shall have failed to maintain an effective registration statement, exercise warrants on a cashless basis pursuant
to an available exemption from registration under the Securities Act. In such event, each holder would pay the exercise price
by surrendering the warrants for that number of ordinary shares equal to the quotient obtained by dividing (x) the product of
the number of ordinary shares underlying the warrants, multiplied by the difference between the exercise price of the warrants
and the &ldquo;fair market value&rdquo; (defined below) by (y) the fair market value. The &ldquo;fair market value&rdquo; shall
mean the average reported last sale price of the ordinary shares for the 10 trading days ending on the day prior to the date of
exercise.</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">The warrants issued in the Private Units
(&ldquo;Private Warrants&rdquo;) are identical to the Public Warrants sold in this offering except the Private Warrants will be
non-redeemable and may be exercised on a cashless basis, in each case so long as they continue to be held by the initial purchasers
or their permitted transferees.</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">The Company may redeem the outstanding
warrants (excluding the Private Warrants), in whole and not in part, at a price of $0.01 per warrant:</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>

<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">&#9679;</TD><TD STYLE="text-align: justify">at any time while
                                         the warrants are exercisable,</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">upon a minimum of
                                         30 days&#8217; prior written notice of redemption,</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">if, and only if, the
                                         last sales price of the ordinary shares equals or exceeds $18.00 per share for any 20
                                         trading days within a 30 trading day period ending three business days before we send
                                         the notice of redemption, and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&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">&#9679;</TD><TD STYLE="text-align: justify">if, and only if, there
                                         is a current registration statement in effect with respect to the ordinary shares underlying
                                         such warrants at the time of redemption and for the entire 30-day trading period referred
                                         to above and continuing each day thereafter until the date of redemption.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></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">If the Company calls the warrants for
redemption as described above, the management will have the option to require all holders that wish to exercise warrants to do
so on a &ldquo;cashless basis.&rdquo;</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>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Except in cases where the Company
is not the surviving company in a Business Combination, each holder of a right will automatically receive one-tenth (1/10) of
an ordinary share upon consummation of the initial Business Combination, even if the holder of a Public Right converted all
ordinary shares held by him, her or it in connection with the initial Business Combination or an amendment to the
Company&rsquo;s certificate of incorporation  with respect to its
pre-business combination activities. In the event that the Company will not be the surviving company upon completion of the
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-tenth (1/10) of a share underlying each right upon consummation of the Business Combination. No
additional consideration will be required to be paid by a holder of rights in order to receive his, her or its additional
ordinary shares upon consummation of an initial Business Combination. The shares issuable upon exchange of the rights will be
freely tradable (except to the extent held by affiliates of the Company). 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 ordinary shares will receive in the
transaction on an as-converted into ordinary shares basis.</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">The Company 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 the Cayman Islands law. As a result, the holders of the rights must
hold rights in multiples of 10 in order to receive shares for all of the holders&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. Additionally, in no event will the Company be required to
net cash settle the rights. Accordingly, the rights may expire worthless.</P>



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


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<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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Until November 19, 2017, all dealers that
effect transactions in these securities, whether or not participating in this offering, may be required to deliver a prospectus.
This is in addition to the dealers&rsquo; obligation to deliver a prospectus when acting as underwriters and with respect to their
unsold allotments or subscriptions.</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">No dealer, salesperson or any other person
is authorized to give any information or make any representations in connection with this offering other than those contained
in this prospectus and, if given or made, the information or representations must not be relied upon as having been authorized
by us. This prospectus does not constitute an offer to sell or a solicitation of an offer to buy any security other than the securities
offered by this prospectus, or an offer to sell or a solicitation of an offer to buy any securities by anyone in any jurisdiction
in which the offer or solicitation is not authorized or is unlawful.</P>

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

<P STYLE="font: bold 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">$180,000,000</P>

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

<P STYLE="font: bold 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CM Seven Star Acquisition Corporation</P>

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

<P STYLE="font: bold 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">18,000,000 Units</P>

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

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

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

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

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

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

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

<P STYLE="font: bold 16pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">EarlyBirdCapital, Inc.</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>October 25, 2017</B></P>

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