NOTE 4 — PRIVATE PLACEMENT

Simultaneously with the closing of the Initial Public Offering, Art Technology Sponsor, LLC and Clear Street purchased an aggregate of 825,000 Private Placement Units, at a price of $10.00 per Private Placement Unit, or $8,250,000 in the aggregate, in a private placement, of which 530,000 Private Placement Units were purchased by Art Technology Sponsor, LLC and 295,000 Private Placement Units were purchased by Clear Street. Each Private Placement Unit consists of one Placement Share and one-fourth of one Placement Warrant. Each whole Placement Warrant is exercisable to purchase one Placement Share at a price of $11.50 per share, subject to adjustment (see Note 7). A portion of the proceeds from the sale of the Private Placement Units was added to the proceeds from the Initial Public Offering held in the Trust Account. If the Company does not complete a Business Combination within the Combination Period, the proceeds from the sale of the Private Placement Units will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law), and the Private Placement Units and all underlying securities will expire worthless. In connection with the consummation of the private placement, Art Technology Sponsor, LLC forfeited 100,000 Class B ordinary shares and Clear Street purchased 100,000 Class B ordinary shares from the Company.