Note 4 — Private Placement

Simultaneously with the closing of the Initial Public Offering, the Company consummated the Private Placement of 3,500,000 Private Placement Warrants to the Sponsor at a purchase price of $1.00 per Private Placement Warrant, generating gross proceeds to the Company of $3.5 million.

Each Private Placement Warrant is exercisable for one ordinary share at a price of $11.50 per share. Each Private Placement Warrant is substantially identical to the Public Warrant and will become exercisable 30 days after the completion of the initial business combination and will expire after five years after completion of the initial business combination or earlier upon redemption or liquidation. If the initial business combination is not completed within the Completion Window, the proceeds from the sale of the Private Placement Warrants held in the Trust Account will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law).