NOTE 4. PRIVATE PLACEMENT

Simultaneously with the closing of the Initial Public Offering, the Company consummated the sale of an aggregate of 5,375,000 Private Placement Warrants at a price of $1.00 per Private Placement Warrant, generating gross proceeds of $5,375,000. Of those 5,375,000 Private Placement Warrants, the Sponsor purchased 3,500,000 Private Placement Warrants, and the Underwriters purchased 1,875,000 Private Placement Warrants.