Note 4 — Private Placement

Simultaneously with the closing of the Initial Public Offering, the Sponsor purchased 5,837,500 Private Placement Warrants, at a price of $0.80 per Private Placement Warrant, generating gross proceeds of $4,670,000. Each whole Private Placement Warrant entitles the registered holder to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment.

The Private Placement Warrants are identical to the Public Warrants underlying the Units sold in the Initial Public Offering except that, so long as they are held by the Sponsor or its permitted transferees, the Private Placement Warrants (i) may not, subject to certain limited exceptions, be transferred, assigned or sold by the holders until 30 days after the completion of the initial Business Combination and (ii) will be entitled to registration rights.