| SPAC Sponsor and Affiliates Information, Restrictions on Sale of SPAC Securities [Table Text Block] |
Pursuant to a letter agreement to be entered with
us, each of our sponsor, directors and officers has agreed to restrictions on its ability to transfer, assign, or sell the founder shares
and private placement units, as summarized in the table below.
| Subject Securities |
|
Expiration Date |
|
Natural Persons and Entities
Subject to Restrictions |
|
Exceptions
to Transfer
Restrictions |
| Founder Shares |
|
The
earlier of (A) one year after the completion of our initial business combination or earlier if, subsequent to our initial business
combination, the closing price of the Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share sub-divisions,
share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day
period commencing at least 150 days after our initial business combination and (B) the date following the completion of
our initial business combination on which we complete a liquidation, merger, share exchange or other similar transaction that results
in all of our shareholders having the right to exchange their Class A ordinary shares for cash, securities or other property. |
|
Atlas
Sponsor LLC
Eric
D. Henrickson
Rafay
Khalid
Jason C. Hsu
Ralph B. Coomber, III
Alexander E. Sibuma
Cesar Sanchez
John Salemi
|
|
Transfers
permitted (a) to our officers, directors or consultants, any affiliate or family member of any of our officers, directors or
consultants, any members or partners of the sponsor or their affiliates and funds and accounts advised by such members or partners,
any affiliates of the sponsor, or any employees of such affiliates, (b) in the case of an individual, as a gift to such person’s
immediate family or to a trust, the beneficiary of which is a member of such person’s immediate family, an affiliate of such
person or to a charitable organization; (c) in the case of an individual, by virtue of laws of descent and distribution upon
death of such person; (d) in the case of an individual, pursuant to a qualified domestic relations order; (e) by private
sales or transfers made in connection with any forward purchase agreement or similar arrangement, in connection with an extension
of the completion window or in connection with the consummation of a business combination at prices no greater than the price at
which the shares or warrants were originally purchased; (f) pro rata distributions from our sponsor to its respective members,
partners or shareholders pursuant to our sponsor’s limited liability company agreement or other charter documents; (g) by
virtue of the laws of the Cayman Islands or our sponsor’s limited liability company agreement upon dissolution of
our sponsor, (h) in the event of our liquidation prior to our consummation of our initial business combination; (i) in
the event that, subsequent to our consummation of an initial business combination, we complete a liquidation, merger, share exchange
or other similar transaction which results in all of our shareholders having the right to exchange their Class A ordinary shares
for cash, securities or other property or (j) to a nominee or custodian of a person or entity to whom a transfer would be permissible
under clauses (a) through (g); provided, however, that in the case of clauses (a) through (g) and clause (j) these
permitted transferees must enter into a written agreement agreeing to be bound by these transfer restrictions and the other restrictions
contained in the letter agreements. |
| Subject Securities |
|
Expiration Date |
|
Natural Persons and Entities
Subject to Restrictions |
|
Exceptions to Transfer
Restrictions |
| Private Placement Units (including underlying securities) |
|
30 days after the completion of our initial business combination |
|
Atlas Sponsor LLC
Eric D. Henrickson
Rafay Khalid
Jason C. Hsu
Ralph B. Coomber, III
Alexander E. Sibuma
Cesar Sanchez
John Salemi
|
|
Same as above, except CCM shall also be permitted to make the same type of transfers to their affiliates as the sponsor can make to its affiliates as described above. |
| Any units, warrants, ordinary shares or any other securities convertible into, or exercisable or exchangeable for, any units, ordinary shares, founder shares or warrants |
|
180 days |
|
Atlas Sponsor LLC
Eric D. Henrickson
Rafay Khalid
Jason C. Hsu
Ralph B. Coomber, III
Alexander E. Sibuma
Cesar Sanchez
John Salemi
|
|
The representative in its sole discretion may release any of the securities subject to these lock-up agreements at any time. Our sponsor, officers and directors are also subject to separate transfer restrictions on their founder shares and private placement units pursuant to the letter agreement described herein. |
|